Money For Nonprofit News

Another nonprofit news site is making headlines today: the St. Louis Beacon, a nonprofit online publication for St. Louis, Miss., just got a $1.25 million gift from local group The Danforth Foundation.

“Our mission continues to focus on news that matters to St. Louisans. This gift will enable us to strengthen all facets of our work –journalism, technology, live events and partnerships” Beacon editor Margaret Wolf Freivogel said in a statement.

The Beacon, which launched in April 2008, employs 21 people, of which 15 are journalists; more than 100 freelancers contribute to the site as well.

Full release after the jump:

ST LOUIS, Mo. – (January 3, 2011) – The St. Louis Beacon has received a gift of $1.25 million from the St. Louis based Danforth Foundation. The gift is a cornerstone in the Beacon’s initiative to balance philanthropic support with other sources of revenue. The St. Louis Beacon is a nonprofit news organization covering the St. Louis region and publishing primarily online.

“We thank the Danforth Foundation for its very generous gift,” said Nicole Hollway, St Louis Beacon’s general manager. “Our goal over the next four years is to become less dependent on philanthropic funding while sustaining a robust and profitable news organization. By developing additional revenue sources, we can assure that the Beacon and our reporting will thrive without undue dependence on a few donors or foundations.”

The Danforth Foundation gift was made public on Saturday, January 1 at the Beacon’s second annual gala, a one-night concert production of Gilbert and Sullivan’s H.M.S. Pinafore, performed by an all-star cast of regional musical celebrities, followed by a sold out fundraising dinner.

“Our mission continues to focus on news that matters to St. Louisans. This gift will enable us to strengthen all facets of our work –journalism, technology, live events and partnerships” says Beacon editor, Margaret Wolf Freivogel. “In the process, we’ll build a sustainable business model that is essential for reinventing journalism as a vital civic resource.”