NYC Pride Faces $750K Crisis as Corporate Sponsors Pull Out

By: Paul Goldberg | JRL CHARTS LGBT Politics

NEW YORK, NY — (May 24, 2025) — Heritage of Pride, the nonprofit behind NYC’s official Pride Month celebrations, has revealed a staggering $750,000 budget shortfall for 2025 —an alarming blow linked to a major pullback by high-profile corporate sponsors.

In a statement issued Wednesday, NYC Pride Co-Chairs Kazz Alexander and Michele Irimia confirmed the organization has raised only 75% of its fundraising target. While the number of overall partnerships has increased, the loss in large-scale financial backing threatens not only the scope of this year’s parades and performances, but also critical community support.

“It’s not just floats and performers being affected,” Alexander and Irimia warned. “Our grant programs—which awarded over $100,000 to local LGBTQ+ nonprofits in 2023—are now in jeopardy.”

According to the New York Times, the funding gap coincides with national trends. Pride festivals across the U.S. are grappling with reduced sponsorships as companies navigate inflation pressures, new federal tariffs, and a political climate increasingly hostile to DEI (Diversity, Equity, and Inclusion) initiatives.

A Wall Street Journal report revealed that Mastercard, PepsiCo, Citi, Nissan, and PricewaterhouseCoopers (PwC) are among those that declined to renew sponsorships for NYC Pride 2025. Of last year’s top-tier supporters—Mastercard, Garnier, Skyy Vodka, and Target—only Target remains, and even then, as a “silent partner.”

Target’s quiet sponsorship reflects the broader chilling effect of anti-LGBTQ+ backlash. Following a January executive order targeting DEI programs, the retailer scaled back its diversity efforts and opted out of external benchmarks such as the Human Rights Campaign’s Corporate Equality Index.

L’Oréal’s LGBTQ+ employee group, Out @ L’Oréal, is currently the only Platinum-level corporate sponsor officially listed on NYC Pride’s site.

As NYC Pride races to fill the financial gap, the broader message is clear: The fight for visibility and equality still requires bold, public support—not just rainbow logos during June.

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