The party won’t stop for Pride Toronto this year, but money problems could put future events in jeopardy, organizers warn.As the festival gears up for its 45th anniversary, its executive director, Kojo Modeste, says the organization is once again facing a funding shortfall of $700,000 to 800,000, which could cause serious issues for next year’s festivities.“Unfortunately, we’re finding ourselves in a very similar situation this year,” Modeste told CityNews. “We have had almost all of our sponsors returning, however we have had many sponsors as a result of tariffs and other reasons, had to reduce the amount that they’re given to us.”In March, representatives of pride festivals across Canada came together to request an additional $9 million cash injection from the Federal government to cover performing artists fees, logistics costs and rising budget items over the next three years.That request is separate from the $1.5 million the federal government has already allocated for security costs, which groups have previously said is not enough to deal with an onslaught of violent threats they tie to far-right extremism.Leaders from across the country argue Pride parades and other programming at festivals celebrating LGBTQ+ people help to promote inclusion and boost tourism revenues.Organizers for Toronto, Montreal and Vancouver festivals say together they generate $1.3 billion in economic activity each year, and they estimate smaller festivals create $700 million in GDP.“There are some things that we cannot compromise,” Modeste added. “And the cost of these things are going up. The cost of security, the cost of insurance, the cost of, you know, stage rentals and all of these things have significantly increased after the pandemic.”Last year, Pride Toronto faced a similar $900,000 funding shortfall after major sponsors like Google and Home Depot pulled their support amid a wider backlash against diversity, equity and inclusion initiatives.With files from The Canadian Press.