Pride Economics Flourish
Record Grants To Community & Healthy
Surplus Underscore “Amazing Year”


In spite of the general economic downturn, this year’s San Francisco Pride Parade and Celebration produced the best ever result for the community. After making grants to community organizations totaling $114,388, up 46% on the prior year, the Pride Committee’s audited financial statements show a surplus of $34,273. For the first time ever in the history of the event, net reserves are over $100,000.

Pride President, Joshua Smith, said:

“This is a remarkable achievement. Not only are the community groups who receive grants able to continue their work but, through fiscal responsibility, we have built a solid and secure base for the future.”

The accounts show that total revenue and support has grown over the past five years from $512k to $2.58m, an increase of over 500%.

Pride Treasurer Ron Wong said:

“We have reached our twin goals of community investment and financial security but must remain vigilant in these uncertain times. ‘Prudence and austerity’ remains our mantra in the months ahead.”

Pride Executive Director, Teddy Witherington, added:

“Our funding prospects are promising. Our budget is leaner and tighter but our goal is to maintain the quality and standards we have set without any noticeable difference to the communities we serve. Our funders have proven both their loyalty and commitment and with the community’s continued support, next year’s Pride will be as magnificent as any we have seen.”

The Pride Committee is proud to publish its financial statements on its website at :

http://www.sfpride.org/financials.htm

SF LGBT Pride 2002 takes place over the weekend of June 29 and 30, 2002. The event theme is Be Yourself, Change The World.

ENDS

For further information please contact Teddy Witherington at : (415) 864 0831