Quantcast
Channel: Digiwatchdog » foundations
Viewing all articles
Browse latest Browse all 2

Don’t Lean on Me: Foundations set to drop support of news sites

0
0

A new study confirms what we’ve been hearing in our discussions with development experts and news organizations themselves: Foundation coffers — and interest — in funding news non-profits are running dry.

The headline from a San Francisco State Renaissance Journalism Center survey is that many nonprofit sites are in need of new revenue sources. Two-thirds of the survey’s 32 respondents said they faced a funding “crossroads” and would need new funders to achieve sustainability; seventy percent “wanted information” about innovative revenue streams.

Among the anecdotal quotes the study provides on this issue:

“We believe that the window for foundations’ intense interest in funding journalism is probably limited, so we are intensely focused on how to be sustainable through earned income.”

“We have been 85-90 percent dependent on foundation support, and that support is declining.”

Tolstoy’s dictum applies to the news nonprofit universe: No two websites facing sustainability issues are alike. As we demonstrate in our forthcoming whitepaper, some sites are constrained by distribution partnerships; others have experienced lower-than-expected readership. And a few probably left the gate too early, before they had enough money to really get going. The conventional wisdom now is that foundations are unwilling to serve as backstop sources of funding, so poor revenue performance from other sources creates a cascading effect on base donors.

Diversifying revenue is the cornerstone of our business plan for The Chicago Reporter. The magazine is in the fortunate position of having a permanent (we assume) back in the Community Renewal Society. If you need money to make money, we believe we enjoy a solid platform from which to launch appeals to new donors and sponsors.


Viewing all articles
Browse latest Browse all 2

Latest Images

Trending Articles





Latest Images