Pride celebrations across the U.S. this month are seeing a sharp drop in corporate funding. San Francisco Pride lost $200,000 after five major sponsors, including Comcast and Anheuser-Busch, pulled out. In Kansas City and St. Louis, organizers are facing similar six-figure gaps. In New York City, Heritage of Pride is scrambling to close a $750,000 hole, a fifth of its total budget. Some companies have quietly returned with anonymous donations, but many others have cut ties entirely, citing economic pressures or political concerns. Marketing experts say it’s part of a larger retreat from “brand activism,” with more Americans wary of corporations taking sides on social issues. At the same time, LGBTQ+ groups are severing ties with companies like Meta and Target over their rollback of diversity initiatives. Despite the financial setbacks, Pride marches and rallies are still happening, though with fewer parties, stages, and perks for volunteers. In San Francisco, the theme this year is “Queer Joy is Resistance.” Executive Director Suzanne Ford says showing up matters more than ever. In response to the funding gap, local donors and community crowdfunding efforts have stepped up, a sign, organizers say, that Pride will go on, with or without big brand logos.