We’re doing things “Buy the Book” this week with a look at Glad Day Bookshop.

June 3, 2024

Glad Day Bookshop, the world’s oldest 2SLGBTQ+ bookstore, is facing a financial crisis. With deep roots in Toronto and a rich history in the fight for sexual liberation, free speech, and creativity, Glad Day is much more than a bookstore – it’s a vital cultural hub.

It has been a cornerstone of the 2SLGBTQ+ community since 1970 but moved to a larger space on Church Street in 2016.

Glad Day says it hosts more than 500 2SLGBTQ+ events a year. Those events include more than 1,600 artist performances annually, and the bookstore says it directly pays over $45,000 to 2SLGBTQ+ artists and authors each year.

Beyond performances and literary events, Glad Day funds, supports, and organizes several activities, events, and services, including community meetings, workshops, tourist support, research, education, and more.

The Cost of Survival

According to Glad Day, it says it was very close to being financially stable before 2020, but the pandemic, intense inflation, rising costs, and declining revenues have squeezed its finances.

It also says its rent, insurance, hydro, and gas total $24,000 a month. Factor in things like wages, books and even coffee beans, and you can see that expenses can quickly get overwhelming.

As those costs added up, Glad Day made some cuts. It says it cut daytime hours, its book collection and even its social media presence.

To avoid eviction and stabilize for the future, Glad Day says it needs money, and lots of it. They’re looking to raise $300,000 to stay afloat for another year. Here’s how they broke it down:

• $100,000: Rent arrears to avoid eviction
• $30,000: Hire a part-time fundraiser for 10 months
• $30,000: Subsidize insurance for 1 year ($2,500 a month)
• $30,000: Pay performers and artists for events
• $30,000: Improve sound system, lighting, and build a stage for events
• $25,000: Refresh book stock with a focus on Canadian authors
• $15,000: Expand merch and art from local artists and crafters
• $10,000: Repair and improve accessibility of the front door and main washroom
• $10,000: Consultations with communities to plan for the future
• $20,000: Funding for future initiatives of Glad Day
  

Looking Forward

1. Glad Day is preparing itself for three potential outcomes:
   Staying at 499 Church Street by securing new funding, sharing the space with another organization, or finding an angel investor.
2. Moving to a location with lower rent, which could be just a bookstore, a bookstore with a small bar, or a shared space.
3. Entering “hibernation mode” to be revived later or, as they put it, giving up and “surrendering to the ongoing gentrification and soulless capitalism of Toronto.”

To learn more about Glad Day’s financial needs and potential future incarnations, visit their website.

This story originally appeared in Vital Signs.

For more on how we use AI, check out our Pulse Bot page.