The folks at MinnPost.com, the non-profit news site based in Minneapolis, write of how they are celebrating what they call “a remarkable year.” According to a blog entry by site CEO Joel Kramer (a former editor and publisher of Star Tribune), the site saw extensive growth in revenue and page views:
Revenue from advertising and sponsorship grew 35% compared with 2008, our first full year of operation. Revenue from members and our annual benefit event, MinnRoast, rose 29%. Our total donor list grew 44%. Traffic to the site grew more than 60%…After running a deficit of $605,000 in 2008, our first full year, we reduced the deficit to $125,000 in 2009… Revenue from advertising and sponsorship rose from $160,000 in 2008 to $217,000 in 2009.
Meantime, the site saw revenue from individual donors rise from $356,000 to $458,000. Not all of the cost reduction was done through revenue addition. The site cut back on freelance payments. Still, based upon these results, Kramer says he expects the site to be self-sustainable by 2012. If he pulls that off, it will be one of the great success stories of web-only local journalism. The site started up in ’08, with grants adding up to $1.1 million, including money from the Knight Foundation. It originally offered a short print version before quickly discontinuing it.
Plus: The Austin-based nonprofit Texas Tribune says they raised $4 million in 2009 from 68 corporate sponsors and 1,500 member donations.
And: How two non-profits saw the path to sustainability in 2009 (Nieman)