Mardi Gras Delivers A Surprise Surplus After Last Years Deficit

The Sydney Gay and Lesbian Mardi Gras have released some very promising financial information for the organisation this week.

Following a significant deficit in the previous financial year, the organisation have this year delivered a profit.

The news comes amid a significant public focus on the organisation as differing factions attempt to redirect the future of the organisation.

Mardi Gras delivers a surprising surplus

There has been much talk about the future of The Sydney Gay and Lesbian Mardi Gras following last years financials and several tumultuous years for the community organisation.

In the previous financial year the organisation reported a shocking deficit of $1,242,774, which had many concerned for its future.

However in what can only be seen as good news, the board have this week released news of a $401,750 profit for the latest financial year.

Released on Friday the annual financial statements indicate significant changes in expenses and income for the organisation that have changed their financial trajectory.

Despite changes in income for the organisation it appears one of their biggest shifts was a reduction in cost of sales expenses which dipped from $11,036,356 to $8,118,202.

It is unclear if this positive trend will continue into the future with the news that American Express have withdrawn as the key sponsor for the organisation.

The annual report for the The Sydney Gay and Lesbian Mardi Gras is yet to be released, which will provide more in depth details about the income and expenses from the previous financial year.

It comes as they announce their 2026 season theme, Ecstatica, a focus on community, connection, and unapologetic queer joy, as well as their 2026 program. 

“It’s a time of transformation [and] asking, ‘what do we actually want Mardi Gras to be for the community moving forward?’”  interim CEO Jesse Matheson told The Star Observer. “The focus has been reconnecting with community, opening up conversations again, and finding new ways to collaborate. We’ve had to learn, adapt, and start fresh.”