As Toronto prepares for the annual Santa Claus parade, that festive jingling sound isn’t coming from sleigh bells, but a collection cup.

Facing rising costs amid Canada’s ongoing affordability crisis, the 120th edition of the parade is in financial hot water, prompting organizers to issue a GoFundMe campaign to help keep the annual tradition on the street.

“In the spirit of togetherness for our 120th anniversary, we’re asking anyone who holds a heartfelt memory of the Parade to consider donating $2$12$120 or any amount they’re inspired to give,” Original Santa Claus Parade CEO Clay Charters said in a press release, adding that if even a quarter of those who attend the parade donated a toonie, they’d surpass their fundraising goal of $250,000.

While corporate sponsors make up the bulk of the parade’s annual funding, fewer sponsorship dollars and growing costs have put the parade — which endured two World Wars and the Great Depression — in dire straits.

The additional $250,000 would ensure the parade returns next year, Charters said.

Cost-cutting has also spelled the end of the parade’s annual television broadcast on CTV, leaving a YouTube livestream the only way to catch the parade without bundling up and heading street-side.

As of Thursday afternoon, a little under $40,000 of the campaign’s $250,000 goal was raised — including a $25,000 gift from an anonymous donor.

Spadina-Fort York MP Kevin Vuong, whose riding lies along the parade’s traditional route, told the Toronto Sun he met with parade organizers to discuss their problems, and lamented that this year may be the 120-year-old parade’s swansong.

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“The business case is there for government support, but it’s also about the joy and warmth of the season at a time where that need is more than ever,” he said.

“It’s become far too common for our sacred traditions to be left in the dustbin of history, be it out of neglect, ignorance or affordability. That must stop. Let’s start with ensuring the Santa Claus Parade has everything it needs to not only survive but also thrive.”

The parade returns to Toronto’s streets on Sunday, Nov. 24.

Starting at Christie Pits at 12:30 p.m., this year’s route will take the floats across Bloor St. to Queen’s Park Circle, south on University Ave. to Wellington, ending at St. Lawrence Market.

Among the special guests will be Emma Memma, formerly of the Australian children’s entertainment group The Wiggles.

As the annual television broadcast was cancelled this year, those not attending can watch it live on YouTube.

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