Major companies withdraw support from San Francisco Pride, causing financial strain
- San Francisco Pride organizers announced a funding shortfall of approximately $300,000 due to sponsorship withdrawals.
- Five corporations pulled their sponsorships, with SF Pride needing to raise an additional $1.3 million to meet its budget goals.
- The decline in support may indicate a broader trend of corporate withdrawal from diversity and inclusion initiatives.
In the United States, San Francisco Pride is facing significant financial challenges as a result of major companies withdrawing their sponsorship for the event. This has created concerns among the organizers who are struggling to meet their budget goals. The annual event, which takes place on June 28-29, is one of the largest LGBTQ+ celebrations worldwide and draws over a million attendees each year. The organizers reported that five companies, including Benefit Cosmetics, Comcast, Anheuser-Busch, Diageo, and La Crema, decided to pull funding. This withdrawal has resulted in an approximate loss of $300,000, leaving the organization needing to raise an additional $1.3 million to meet its $2.3 million budget goal. Suzanne Ford, the executive director for SF Pride, expressed concern regarding the decline in support, suggesting that it may be part of a broader trend of companies distancing themselves from diversity, equity, and inclusion (DEI) initiatives, particularly following changes in federal government policies under the Trump administration. Ford specifically noted that there is a change in tone across the country, leading businesses to reconsider their commitments to LGBTQ+ events. While some companies like La Crema have stated that they remain committed to the LGBTQ+ community and are seeking to find ways to partner with SF Pride, the overall sentiment indicates a retreat from DEI efforts by other major corporations. This shift has been observed not only in donations to SF Pride but also across various sectors, as names like Facebook, McDonald’s, and Walmart reassess their approaches to DEI programming. The event's theme this year, "Queer Joy is Resistance," highlights a continued push for visibility amidst the financial hardships caused by lack of corporate support. As the event approaches, SF Pride organizers are focused on securing additional funds to ensure its success, hoping for continued community and partner support despite the current challenges.