Organizers for the Dallas Holiday Parade are still trying to come up with the necessary funding for the $374,000 event.
Monday was a deadline to raise the money, in order to secure the proper insurance, but Jeffrey Giles, executive producer of the parade says the insurance company has been helpful and is working with him.
So far, $224,000 of donations came in over the past 5 days.
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Giles told NBC 5 Wednesday night that he's planning a press conference at the Statler Hotel at 4 p.m. on Friday to announce if the parade will go on.
Giles said his HTE Dance Academy has already put down $100,000 toward the costs, but it isn't enough.
That $100,000 is covering things like costumes, inflatables and staffing, Giles said. They still have to pay out-of-pocket for things like off-duty police officers to patrol and secure the event or hire a private security company.
Downtown Dallas, Inc. quadrupled their donation Monday, to help keep the parade going.
The parade is special to Shalissa Perry, their chief marketing officer.
She has attended the last five years, and this year, will bring her 7-month-old to start a new family tradition.
"I come every year, even before children. To see all the kids and parents waiting at 6 a.m. to see all the characters come by, it's very special. It's got a long history with downtown," said Perry.
In the past, Children's Health in Dallas has covered the entire cost of the event, however, in May of this year, the hospital put out the below statement saying they were parting ways:
"We have decided to move forward with other new and meaningful ways to bring cheer to families in our community this holiday season," Scott Summerall, Children's Health spokesman, said in a written statement. "We are considering ways to celebrate and honor the parade's history in its 30th year, but still ironing out details of a potential event."
Even with the money raised, Giles still needs a major sponsorship. He held two meetings Monday, and is optimistic .
"I still believe that we can do it. I still believe Christmas is alive and well in everybody's heart and soul," said Giles. "And while the holidays cover a myriad of events, I think Christmas is that one block we build everything on. The idea of giving to each other. Regardless of how you celebrate, it is giving."
A GoFundMe account has been established for folks to contribute to the parade. If you're interested in sponsoring the event, you can contact Giles on the Dallas Holiday Parade website, or reach out to them on Facebook.