CEO says Toronto Caribbean Carnival needs $2M in emergency funds to cover costs

The Toronto Caribbean Carnival may be cancelled next year if all three levels of government cannot provide $2 million in emergency funding, the CEO of the festival management committee says.

Mischka Crichton said on Wednesdaythe committee facesthe "difficult possibility" of cancelling the festival entirely, or several events separately, if organizers cannot secure more funds. Events at risk include the Junior King and Queen Showcase and the Junior Carnival Parade, she said.

Crichton said cancelling the festival would have a "profound economic and culture impact" on Toronto.

The event costs roughly$3 million a year to produce, butreceives less than $1 million annually from all three levels of government combined, according to a petition on the Toronto Caribbean Carnival's website.

"Securing funding now is essential as we begin preparations for next year's festival, including marketing, vendor and artist agreements, and material sourcing for bands and costumes. Budget allocations must be established well in advance to ensure that we can deliver the high-quality experience visitors expect," Crichton said in an email.

"With inflation and production costs continuing to rise, timely financial support is crucial for sustaining the Carnival's legacy and impact."

Emergency funds would pay forthis year's costs

The petition saysthe $2 million is needed to cover operational costs from the 2024 Carnival. The festival management committee has triedto reduce costs by 10 per cent in 2023 and 2024, but it still faces a financial shortfall.

The petition calls for annual funding of $1.5 million from the federal and provincial governments to keep the event going, in addition to the emergency funding. It also calls forfunding fora cultural centre that would be dedicated to promoting and preserving the city's Caribbean heritage.

Crichton said federal, provincial and municipal governments are currently finalizing budgets for the next fiscal year,sonow is a good time to secure funding needed to plan for the event.

The Toronto Caribbean Carnival brings more than two million visitors to the city, generates an estimated $467 million in economic activity and $182.7 million in tax revenue, supports the federal policy of multiculturalism and promotes diversity and equity in Canada, according to Crichton.

Festival should continue as a non-profit, CEO says

Crichton said it's essential that the Toronto Caribbean Carnival continues to operateas anon-profit organization.

"The Carnival is a community-driven festival offering mostly free events that prioritize making sure our community can afford to attend the events we do charge for, as well as cultural enrichment," Crichton added.

In a statement to CBC Toronto, Ontario's Ministry of Tourism, Culture and Gaming said the provincial government recognizes the significant social and economic benefits that festivals have and will continue to work closely with these organizations.