Crossposted from Informationneeds.org
Financial stability is a big challenge for many news and information projects. After that initial burst of foundation funding, how do you keep the project going?
MinnPost, a Knight Community Information Challenge'winner in the first round and Knight journalism program grantee, has been an aggressive leader in developing a variety of funding streams - mixing commercial approaches such as advertising and sponsorships with fundraisers and foundation support.
This week, the site announced it ran a surplus in 2010 after several years of deficits.
"A $17,594 surplus on spending of $1.261 million may not sound like much. But this is tremendous vindication for our business model, because it resulted from 18 percent revenue growth, not budget-cutting," the site's founders, Joel and Laurie Kramer said in a letter to users.
Congratulations to MinnPost.'More details here.