|
Saturday, January 28, 2006
Sinulog festivities net P1.7M
By Linette C. Ramos
Sun.Star Staff Reporter
Sinulog organizers raised P20.5 million in donations and sponsorships that helped make this month’s event a success, but also spent some P18.8 million, making this year’s grand parade one of the most expensive ever held.
The profit of some P1.7 million that they will get, which will also be used for other programs, shows that the Sinulog Foundation Inc. is not a moneymaking organization, its officials said yesterday.
Sinulog Foundation Executive Director Ricky Ballesteros said the P1.7 million in estimated profits will drop since other suppliers have yet to collect from them.
While the bulk of the income came from the Cebu City Government, good marketing and promotion of the event and income-generating projects of the foundation also helped increase their funds, he added.
“Everything that the City and the donors gave us is accounted for. We had a big income but the expenses we incurred were also big, so the profit is not so much. Dili gyud ta money-making na foundation, we raise just enough to sustain our operations because we also have other projects throughout the year,” he told Sun.Star.
Ballesteros added that this year’s income and expenses are more or less the same as last year’s.
The City’s financial assistance of P8 million was used to partly cover the prizes and financial assistance to the participating contingents.
The prizes for the winning contingents alone amounted to P6.23 million, while P2.44 million was given as financial aid to five out-of-town contingents and other local contingents.
A total of P9.65 million was raised from the donors, P5.39 million from sponsors, P2.65 million from trade and street fairs and P1.8 million from ticket sales.
At least P1.26 million was spent for the grand finale production number at the closing of the grand parade, P1.5 million for NBN’s live TV coverage and P915,000 for the flowers and the construction of the stage.
All expenses amounted to P18,783,050, including expenses for the trade fairs, nightly entertainment and operating expenses of the secretariat.
Although they operate as a foundation, Ballesteros said they also need to earn from the Sinulog festivities so they will have enough seed money to sustain the foundation’s projects.
“We have to set aside a certain amount so that if in the future sponsorships and donations are not enough, we will still be able to hold a Sinulog and continue with our programs,” he said.
After they have fully accounted for all expenses, the foundation officials will be busy holding dance and production workshops, as well as festival management seminars. (LCR)
For Bisaya stories from Cebu. Click here. (January 28, 2006 issue)
Write letter to the editor.Click here.
Join the Sun.Star message board.Click here. |
|
[return to top]
[home]
[network page]
|
LOCAL NEWS
BUSINESS
OPINION
SPORTS
LIFESTYLE
FEATURE
SUPERBALITA
WEEKEND
|
