25% of corporate donors pull funding for NYC Pride

Roughly 25 percent of corporate sponsors have scaled back or withdrawn support for New York City’s annual Pride events, citing economic uncertainty and concerns over possible retribution from the Trump administration.

According to a report by The New York Times, Heritage of Pride, the organization that produces NYC Pride, confirmed that nearly all of last year’s major corporate donors have either pulled out or reduced their support. Kevin Killbride, a spokesman for the group, said this drop in funding may force the cancellation of several events held throughout the year.

“The vast majority of what we have heard is that folks are treading carefully from an economic perspective,” said Killbride. 

He added that “some folks have definitely mentioned the fear of potential blowback from the Trump administration if you are a big corporation and you are publicly supporting D.E.I. initiatives.”

Among the companies pulling back are Mastercard, Nissan, and Garnier. Heritage of Pride now faces a $750,000 shortfall and on Wednesday launched a grassroots fundraising campaign to try to raise $25,000 by the end of June to help keep Pride events free to the public.

New York City Pride, held each June in commemoration of the 1969 Stonewall Riots, typically features a week of events ending in a rally and a march that draws around 25,000 participants 

The decline in corporate funding is not limited to Heritage of Pride. Pride celebrations throughout the country have been seeing a drop in corporate support. Renee Colombo, chief development officer at Manhattan’s Lesbian, Gay, Bisexual & Transgender Community Center, said her organization has experienced a 20 to 30 percent reduction in corporate revenue this year. Colombo noted that some companies that still donate have requested anonymity.

She attributed this hesitation to the political climate, saying companies “consider themselves to be federal contractors” and are wary of violating the Trump administration’s guidance on diversity, equity, and inclusion policies.

“There’s just so much confusion right now about what’s permissible and what’s going to really harm business,” said Colombo.

L’Oréal is the only platinum sponsor returning to NYC Pride this year. Other previous top-tier sponsors, including Garnier, Skyy Vodka, Target, and Mastercard, have either scaled back, withdrawn, or asked not to be publicly listed. Lower-tier sponsors such as PepsiCo, Nissan, PricewaterhouseCoopers, and Citi have also reduced or ended support.

Nissan, in a statement, cited economic concerns, saying it was “currently reviewing all marketing and sales spending, including auto shows, sports properties and other entertainment activations, to maximize both efficiency and breakthrough effectiveness.”

Some corporate pullback may also be driven by fear of consumer backlash. The 2023 boycott of Bud Light, triggered by Anheuser-Busch’s marketing partnership with a transgender-identifying influencer, continues to serve as a warning for brands.