New York’s once-corporate-fueled Pride parade is scrambling for funds as major sponsors back out ahead of the June 29 event. With corporate America increasingly aligning with President Trump’s pro-family agenda, organizers are now turning to individual donors to keep the parade afloat.

Corporate Sponsors Retreat from Pride Events

NYC Pride is facing a significant financial shortfall as approximately 25% of previous corporate donors have either canceled or reduced their support for the upcoming June 29 parade. This retreat from corporate sponsorship is part of a nationwide trend affecting pride celebrations across the country, with organizations in San Francisco, Kansas City, and St. Louis all reporting substantial budget gaps.

Kevin Kilbride, a spokesperson for NYC Pride, cited “the evolving external landscape” as a factor in the changing sponsorship environment. Major companies including PepsiCo, Nissan, Comcast, and Anheuser-Busch have withdrawn their support from various Pride events, with Anheuser-Busch ending a 30-year sponsorship of PrideFest in St. Louis that resulted in a $150,000 shortfall.

NYC Pride says they’ve lost $750,000 in corporate funding this year due to President Trump’s DEI policies.

The real question is, why do they need THREE QUARTERS OF A MILLION DOLLARS to hold a parade? pic.twitter.com/I6QlfSQpyQ

— Breaking911 (@Breaking911) June 3, 2025

Community Fundraising to Fill the Gap

In response to the $750,000 budget gap, NYC Pride launched a peer-to-peer fundraising campaign in mid-May. “That gap we’re trying to fill with a community fundraising campaign. So in the middle of May, we launched a peer-to-peer campaign so folks can start their own fundraiser online, share it with their friends, and then have folks donate to that,” Kilbride explained.

The organization is pivoting its strategy to focus more on grassroots support rather than corporate backing. “The group was wanting to lean a little bit more into individual giving and support from the community,” Kilbride stated, indicating a strategic shift in how Pride events secure their financial footing.

VIDEO: Fundraising shift at NY pride as Trump scares off corporate donors

New York’s pride parade, the highest-profile US LGBTQ gathering, is ramping up efforts to raise funds from individual community members as corporate donations have been squeezed as Washington demonizes… pic.twitter.com/dLuYeunwcL

— AFP News Agency (@AFP) June 19, 2025

Changing Political and Corporate Landscape

Organizers attribute the decline in corporate support partly to President Trump’s rejection of diversity, equity, and inclusion policies. This political shift has coincided with Republican-led states passing legislation curtailing DEI initiatives and LGBTQ+ rights, creating a challenging environment for pride events.

Target, which initially reduced its public involvement with the NYC parade, has since reinstated its float after facing boycotts and a dip in share price. Some companies have reportedly resumed donations anonymously after media coverage of their withdrawal, reflecting the complex position many corporations find themselves in as they navigate between different consumer expectations.

Individual and local business donations have increased in some regions to help fill the funding gaps. Successful crowdfunding campaigns in places like Minneapolis demonstrate that community support remains strong despite the corporate pullback, with Suzanne Ford of San Francisco Pride noting, “If you come to Pride this year, that’s a revolutionary act.”

Sources:

• NY Pride Pleads for Cash Donations as Corporate Donors Flee

• Funding for Pride events falls as corporations like Target shift priorities