Black Tie Dinner announced Friday that ticket prices for 2014 will increase from $300 to $400 for general admission.
The organization, which begins its 33rd year, wrote in a press release that the price change will be implemented to ensure Black Tie beneficiaries receive as large a distribution as possible and to maintain low cost of fundraising.
“Undertaking new ticket pricing is always approached with careful consideration because we want to keep prices affordable while returning the most money possible to our beneficiaries,” said Black Tie Dinner co-chair Ken Morris.
According to the press release, the price of a general ticket to Black Tie hasn’t changed in 10 years.
“During that time, rather than change the ticket price to reflect rising unavoidable expenses, Black Tie Dinner has worked hard to reduce or eliminate negotiable expenses and sought additional sponsorships and underwriting to maintain consistent beneficiary distribution,” the press release states.
Black Tie officials also said the ticket price increased because fixed costs have risen 36 percent since 2004.
“After 10 years of avoiding changing the price, we undertook the change this year before increasing expenses adversely affected beneficiary distribution or the cost of fundraising,” Morris said. “We work in partnership with the North Texas LGBT community and its corporate and straight allies, and enjoy their generous support because they know we are careful guardians of their investments and interests.”
Black Tie Dinner supports a number of North Texas LGBT community organizations and its national beneficiary, Human Rights Campaign Fund. Officials say the new ticket price will address the past 10 years of increased expenses and allow for a number of years to pass before having to change ticket prices again.