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A penny (or pound) for Pride London's thoughts

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• Pride London

Money, money, money

Thursday, 1 May 2008

Pride London is spilling the money beans this week as it reveals just how much it costs to keep Pride London free to attend. Pride in London has had a chequered history at times and over the years it has often had an entry charge preventing many people from attending. Pride London is proud to have returned it to being a free event.

But the bill is huge. To create Pride London 07 cost the charity approximately £392,000. Pride London's income comes from a variety of sources but two thirds come from sponsorship with the further third being made up of grants from bodies such as the Mayor of London, donations-in-kind and individual giving.

Pride London's Finance Director, Laurie Powell, commented: "It costs the charity an enormous amount of money every year to put on our event. We are almost entirely run by volunteers with a small amount of specialist consultant help. We rely on our sponsors and donors for the majority of our income”. Pride London will be addressing the financial issue again this year by launching a online donation scheme which will allow them recover the tax via the Gift Aid Scheme. However Pride London will still rely heavily on the bucket with Powell commenting, “If everyone attending the event gave just £1 it would make an enormous difference!"