Pride Toronto lost $1.3 million last year amid controversy
Pride Toronto has hit a snag after it was revealed that it lost almost $1.3 million during the 2017 festival, landing it the red for the first time since 2010.
Financial documents show that Pride lost $1.3 million, absorbing its $848,124 surplus and bringing the deficit to $458,209.
While never originally intended to generate revenue or include corporate sponsors, the numbers show that sponsorship dropped from $2.3 million in 2016 to $1.5 million this year, and donations by $651,450, which could spell trouble down the road.
http://www.blogto.com/city/2017/11/pride-toronto-lost-13-million-last-year-amid-controversy/Beverage sales and government grants were down as well, with Pride organizers receiving only $19,120 of the $260,000 available through the Ontario Trillium Foundation.
This past year's celebrations were marred with controversy after Pride adhered to a list of demands from Black Lives Matter, one of which asked for the "removal of police floats in the Pride marches and parades."
Some have called the move exclusionary and point to it as the main reason for the financial hit.