Knight Foundation to Back Huffpo Investivative Fund

money-9.jpeg The John S. and James L. Knight Foundation today announces a grant of $200,000 to The Huffington Post Investigative Fund.

The Huffington Post Investigative Fund is experimenting with a new way of providing important journalism, functioning as a non-profit that draws audience from a popular for-profit,” said Eric Newton, vice president of Knight Foundation’s journalism program. “It’s a worthy test of a new idea, and since we really donÂ’t know how investigative reporting is best supported in the future, an interesting experiment.”

Based in Washington, D.C., The Huffington Post Investigative Fund has a full-time staff of 11 and a budget of $2 million. It is headed by executive director Nick Penniman, former publisher of the Washington Monthly, and executive editor Lawrence Roberts, former investigations editor of The Washington Post. Arianna Huffington, co-founder and editor-in-chief of The Huffington Post, chairs the nonprofit’s board.

The Huffington Post launched The Huffington Post Invesigative Fund earlier this year in March. The idea was to a create a platform for seasoned journalists downsized by major media outlets as well as involving students at Columbia University in investigative projects.

Arianna Huffington on why she felt it so important to back the Fund: “Everyone who recognizes the role good journalism plays in our democracy is looking for ways to preserve it…” she said.

Pieces range from long-form investigations to short breaking news stories and will be presented in a variety of media — including text, audio and video — and will be free for any media outlet to publish simultaneously.

States the fund’s mission: “As a philanthropic venture, and in the open-source spirit of the Web, everything we publish on our Web site is free for the taking, to publish online or in print.”