Perth’s annual pride parade and fair day organisers, Pride WA, posted a $31,000 loss for 2012 at its AGM on February 26, held at Loton Park Tennis Club.
Despite the substantial loss for the volunteer-based organisation, board members said they had convinced creditors to write down the debts and have only just returned into the black.
Acting treasurer Daniel Smith reported that Pride ended the 2012-year with net assets of -$30,927, after recording a $31,479 loss for the year.
“Pride’s net current assets at the end of 2012 were -$10,646, meaning Pride ended the year in a position of potential insolvency,” Smith said.
“Pride has since worked with its major creditors to write off some of its debts, so that it has returned to a position of solvency, with net assets of $1,110.”
Smith said Pride had had discussions with funding partners and that increased sponsorship was available for this year and in the future as long as it improved its management practices. He thanked the two major creditors, Instant Products and Australian Events Protection, for writing down their debts.
Instant Products, which supplied toilets to the fair day and parade events, wrote off 50 per cent of their outstanding invoice of $9,356, while Australian Events Protection also wiped 50 per cent of their outstanding invoice of $14,518, according to Pride WA.
Strategic planning board member Graham Lovelock said they would be holding a more modest festival this year as the management committee reviewed its overall mission.
Board member Sue Fisher said Pride WA would learn from other organisational models like Adelaide Feast and Sydney Mardi Gras to reduce volunteer burn out and over commitment over the next two years. The Pride WA board members for 2013 were Graham Lovelock, Marcus Remta, Daniel Smith, John Vidovich, Jeff McDonald, Dean Cahill, Michelle Rigg, Sue Fisher, Laura Foster, Aimee Barber, Andrea Findley and Bronny Coombes.
This year’s committee was elected unchallenged after Scott Rawson and the Court Hotel owner Bree Maddox withdrew their nominations.
Pride WA said it looked forward to building on the dialogue it had started with Maddox.
In 2011, Smith moved a motion to publicly condemn the Court Hotel for its ongoing refusal to provide any financial contribution to Pride WA from its Pride Night After Party which competed with the organisation’s major fundraising event. The motion passed.
Pride WA will mark its 25th anniversary in 2014.