While they are upfront with the details, from a legal / business perspective it is a really bad deal for the artist. They want full copyright ownership to the design without any compensation. I can understand if they don't have any money, but a better deal would allow the artist to keep the rights to the logo, and grant the group an exclusive lifetime license to use it. That way the artist continues to get credit for their work, and the group can use it however they want. But if later on the group were to disband, or merge with another group, the artist can retake control of their art.
"The artwork will be for use in advertisement, all publications and promotional materials (including merchandise) and will be the sole property of the Portland, Maine Dyke March Committee.
There is no cash prize or financial remuneration for the design work. The selected artist/designer will be recognized in the following ways: On the website, on the Facebook and Myspace pages of the Portland Dyke March, and during announcements made during the June 19, 2009 event. Other methods of recognition may be considered as well (i.e. press releases, the artists own media, et cetera)."