Corporate Donors Pull Back Support for New York Pride

SOURCE www.nytimes.com
Corporate donors to New York Pride have canceled or scaled back their support due to economic uncertainty and fear of retribution from the Trump administration, leading to a significant financial loss for the organization.

Key Points

  • Corporate sponsors, including Mastercard, Nissan, and Garnier, have canceled or reduced their support.
  • Heritage of Pride is facing a shortfall of $750,000, impacting its ability to host events and fund initiatives.
  • The organization has experienced financial losses since 2019, exacerbated by the pandemic.
  • Concerns about blowback from the Trump administration are influencing corporate sponsorship decisions.

Pros

  • Companies may be more cautious with their spending in the current economic climate.

Cons

  • Reduction in support could negatively impact the financial stability of Pride events and initiatives.
  • Fear of retribution from the Trump administration may be influencing corporate decisions.