The Cleveland and Akron 2014 Gay Games was the most financially successful edition of the event in its 32-year history.
Gay Games 9, which took place in the Ohio cities between August 9 and 16 last year, generated a profit of $147,000 (£95,000/€129,000) after raising $6.8 million (£4.4 million/€5.9 million) in revenue, it was announced at a wrap up event at the City Club of Cleveland.
The profits will now go to community projects.
"The ability to give back to the community is a testament to the Gay Games 9 board's leadership, which placed importance on operating in a fiscally responsible manner, as well as tremendous corporate and individual donor support," Tom Nobbe, the executive director of Gay Games 9, said.
Of the profits, $120,000 (£78,000/€105,000) to go towards creating a fund at the Cleveland Foundation to further promote inclusion in the northeast Ohio community, and $27,000 (£18,000/€24,000) going to the Akron Community Foundation's existing Gay Community Endowment Fund.
"Not many people realise that the Gay Community Endowment Fund of Akron Community Foundation was one of the first funds of its kind in the nation," said Cindy Christman, President of the Gay Community Endowment Fund advisory board.
"This gift from the Gay Games will bring the fund's endowment to nearly $1 million (£650,000/€878,000), a remarkable milestone that will ensure we continue to support LGBT initiatives forever."
Last year's week-long Gay Games attracted more than 20,000 participants and visitors from more than 50 nations, with more than 35 sports and culture events being held across 40 venues in the United States cities.
Contact the writer of this story at [email protected]
January 2015: Gay Games in Cleveland and Akron injected over $50 million into local economy, claims study
August 2014: Obama makes special video appearance to headline Opening Ceremony of Gay Games 9
August 2014: Major survey on homophobia in sports taking place to coincide with opening of Gay Games 9
April 2013: Ernst & Young to sponsor 2014 Gay Games