Nonprofit organizations hosting public events may face significant financial challenges, including recurring annual losses, which can lead to operational difficulties such as permit compliance issues and the need to refund vendors and sponsors.
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Long Beach Pride weekend wraps up amid financial woesAñadido:
So, Pride weekend has come to an end in Long Beach, but there is still work to be done.
>> The organization is dealing with major financial problems. NBC 4's Lauren Coronado joins us live with the issues leading up to this weekend's celebration. Lauren.
>> Lynette Adrian, the president of Long Beach Pride said she was shocked to receive a cease and desist letter an hour before the festival was set to begin. The city says the nonprofit was missing permits and public safety documentation. It offered Long Beach Pride alternative venue options, but the president of the nonprofit said it wasn't the right fit and the pricing was too high for their budget. The city says Mayor Richardson offered to privately fundraise up to $50,000 to help Long Beach Pride move forward with those alternative options, but Long Beach Pride did not accept. We know the nonprofit has been facing financial issues. Our team pulled public tax records dating back to 2014. Every year but two has seen net losses of hundreds of thousands of dollars. Long Beach Pride says it plans to refund its vendors and sponsors. We're working to find out more about what's the plan for ticket holders. We have a request out for comment to address all of these issues. Lynette.
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