A prominent example of nonprofit newsgathering has announced some big boosts to its bottom line. The St. Louis Beacon, an online news service founded in 2009 by former employees of the St. Louis Post-Dispatch, has received $2.6 million in gifts and pledges.
The bulk of the money comes from two donors. Emily Rauh Pulitzer, founder and chair of the Pulitzer Foundation for the Arts, gave the Beacon $1.25 million. Pulitzer is also a former board member of Pulitzer, Inc., former owner of the Post-Dispatch. Another $1.1 million came from Richard K. Weil, a journalist and chair of the Beacon’s board, and his wife Josephine. The additional $250,000 came from other donors.
The Beacon will use the contributions for business and technology infrastructure, according to a press release. “The Beacon has gone beyond just providing news to become a part of the St. Louis region in a way none of us foretold,” Weil said. “The next few years should be exciting as our top flight journalists and talented business staff work to grow this venture and make it self-sustaining.”
Beacon General Manager Nicole Hollway said the Beacon will continue to raise funds in support of a sustainable business model.