AUSTIN, Texas (AP) — Juneteenth celebrations have been scaled back this year due to funding shortfalls as companies and municipalities across the country reconsider their support for diversity, equity and inclusion initiatives.

Canceled federal grants and businesses moving away from so-called brand activism have hit the bottom line of parades and other events heading into Thursday’s federal holiday, which celebrates the end of slavery in the United States. The shrinking financial support coincides with many companies severing ties with LGBTQ pride celebrations for this year and President Donald Trump’s efforts to squash DEI programs throughout the federal government.

In Denver, for example, more than a dozen companies backed out of supporting the Juneteenth Music Festival, which is one of the city’s biggest celebrations of the holiday, according to Norman Harris, executive director of JMF Corporation, which puts on the event.

After the 2020 murder of George Floyd, many companies pursued efforts to make their branding more inclusive,  but interest has waned in the wake of customer blowback in recent years, and many companies didn’t consider the effort integral to their revenue stream, said Dionne Nickerson, a professor in marketing at Emory University.

Some companies no longer can afford to support Juneteenth celebrations because they just don’t have the money given the economic uncertainty, according to Sonya Grier, a marketing professor at American University.

“It’s a whole confluence of issues,” Grier said.

Many state and local governments hold or help fund celebrations, but some decided not to this year.

The governor’s office in West Virginia stated that the state won’t be hosting any Juneteenth events this year for the first time since 2017 due to a budget deficit. Republican Gov. Patrick Morrisey last month signed a bill to end all diversity programs.

City Council members in Scottsdale, Ariz., dissolved their DEI office in February, which led to the cancellation of the city’s annual Juneteenth festival.

Event organizers in Colorado Springs, Colo., had to move locations due to fewer sponsors and cuts in city funding, said Jennifer Smith, a planner for the Southern Colorado Juneteenth Festival.

Around five companies sponsored the event this year, compared to dozens in years prior, Smith said.

“They have said their budgets have been cut because of DEI,” and that they can no longer afford it, she said.

Some groups also have mentioned safety concerns. Planners in Bend, Ore., cited “an increasingly volatile political climate” in a statement about why they canceled this year’s celebration.

Many local organizations also have had their budgets slashed after the National Endowment for the Arts pulled funding for numerous grants.