The Knight Foundation finds progress in the nonprofit news sector in its latest report, released today, with average revenues up 73 percent in two years at 20 outlets it has been tracking.
“But the issues are not going away,” Jon Sotsky, Knight’s director for strategy and assessment, said in a phone interview. “They’re still over dependent on foundation grants,” with many potentially in trouble if key grants are not renewed or replaced.
Today’s report, third in a series, includes a bonus — a comprehensive study of Texas Tribune, a leader among regional sites in developing diverse revenue streams which built to a $7 million annual budget in five years.
On the positive side of the ledger, the report finds:
- Earned income increased from 18 to 23 percent of revenues over the two years.