rejected Target's offer to sponsor

the event, a company spokesperson tells Axios.The big picture: Pride organizers across the U.S. are reevaluating sponsorships as corporate America pulls back from supporting LGBTQ+ events.

Context: Despite boasting more than three dozen sponsors, big corporate backers were missing from Philly's big Pride weekend this year.

Those included Wawa, Target, AARP and Burlington, all of which backed the festival last year.
Driving the news: Target told Axios in a statement that the company offered to be an official sponsor of Philly Pride 365, but was "informed that they were not entering agreements with corporate entities this year."

Philly Pride 365 declined to

comment on the matter. Wawa, AARP and Burlington did not respond to Axios' requests for comment.
The Urban Affairs Coalition, which recently took over managing Philly Pride 365 and is the event's new fiscal sponsor, didn't immediately return requests for comment.
Context: In the past, the budget for Philly's Pride weekend has been paid for through sponsors, vendors, grants and donations, per the Inquirer.

Between the lines: Target has faced

backlash over its rollback of diversity, equity and inclusion initiatives, as well as removing Pride merchandise from its shelves in recent years.

Minneapolis' Twin Cities Pride rejected Target's sponsorship dollars this year, citing the company's DEI rollbacks.