SAN FRANCISCO – San Francisco Pride announced today that it has made major progress toward financial stability, retiring a three year debt burden, while simultaneously achieving record breaking increases in key sponsorship contributions.
The nonprofit organization, that sponsors and produces the annual SF LGBT Pride Parade, reported that as of May 31 it had completed a two-year strategic plan that allowed it to retire nearly $300,000 of outstanding loan and debt, which included a loan of $65,000 from the Dorian Fund. The plan also involved an organizational restructuring, including a national search and the eventual hiring of Earl Plante as its first CEO in December 2012.
“SF Pride is in the strongest financial health it has ever been in its 43 year history,” stated Lisa Williams, President of SF Pride’s board of directors. “Putting Pride on sound financial footing has been our top priority. As a board, staff, and community partnership we rolled up our sleeves, exerted the required determination, focus and discipline to deliver this key turning point for the organization and the community.”
“SF Pride can now focus on building much needed reserves to sustain fiscal health, as well as on allocating timely grants to vital community-based services and programs, and peer Pride Month events such as the Dyke March, Trans March, and Pink Saturday,” stated David Currie, treasurer of SF Pride’s board of directors. Since 1997, SF Pride has been a significant fundraiser to the local community at large, giving nearly $2.4 million back to organizations working on the frontlines on vital issues including breast cancer, homelessness, and HIV/AIDS.
With more than 250 parade contingents, 300 exhibitors, and 21 stages and venues, the San Francisco LGBT Pride celebration and parade is the largest LGBT annual gathering in the nation; this year’s theme is ‘Embrace, Encourage, Empower.’ It is estimated that it costs more than $4,000,000 to produce the event that takes place annually on the final weekend of June during Pride Month. While cash contributions are requested, at the celebration in the Civic Center as it provides vital proceeds to community based programs, the event remains a free event to the public.
Under newly hired SF Pride CEO, Earl Plante, the organization reported that it experienced the highest sponsorship income in its 43-year history. Sponsorship fundraising broke SF Pride’s 2012 record with a 20 percent increase in total corporate cash donations to $782,199, and $1,615,550 in secured in-kind donations — a 44 percent increase over the previously highest rate secured in 2008.
“I am very proud to lead the team effort of SF Pride’s dedicated volunteer Board of Directors, community advisory board, and staff and contractors since my tenure began to move SF Pride positively forward,” stated Earl Plante, CEO of SF Pride. “We are humbled and honored by the goodwill and good faith that SF Pride’s diverse range of local business and corporate partners has invested in the history and ongoing transformational work of SF Pride. We welcome with great appreciation both returning and new sponsors that help us to produce one of the most celebrated LGBT Pride events in the world.”
