Renewed sense of hope for Toronto Santa Claus Parade’s future: CEO

The Toronto Santa Clause Parade faces financial challenges but, with public and government support, they are working hard to secure its future and keep the magic alive.

As inflation and rising costs threaten to ice one of the city’s most beloved holiday traditions, there is a renewed sense of hope for the future of the Toronto Santa Claus Parade.

With a $250,000 deficit, parade organizers sounded the alarm this fall that the more-than-a-century-old event may not go on without the public’s help.

That call for help has organizers feeling optimistic the parade, which will mark 120 years this Sunday, will live on in the near term, said Clay Charters, president and CEO of the Santa Claus Parade.

“Things are more expensive and we are doing everything we can to control increased operational costs,” Charters told Global News.

“We’re very grateful for the public, sponsors and different levels of government who have stepped in to help us.”

The need for public support has stemmed from financial challenges due to rising operational costs, a decline in corporate sponsorships, leading to the $250,000 deficit, Charters said.

Corporate sponsorships, Charters said, historically have been the largest source of funding. However, they have decreased in recent years, forcing organizers to dip into their surplus funds.

“This is a year-round operation,” Charters said.