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Nonprofit Texas Tribune Exceeds Fund-Raising Target

January 26, 2010, 5:06 pm

The Texas Tribune, a nonprofit news organization, raised nearly $4-million last year, exceeding its goal by almost a half-million dollars, Editor & Publisher reports.

In a note to readers Monday, John Thornton, the venture capitalist who founded the Tribune last year, said the online news service started with 68 corporate sponsors, most of whom committed $2,500 each, and 1,500 individual donors. It is also earning income from selling content to other publications and has “ambitious goals” to expand paid subscriptions, he wrote.

Also on Monday, a nonprofit journalism site in Connecticut debuted with $1.8-million in foundation money, according to Poynter Online. Jim Cutie, the former New York Times executive who serves as the Connecticut Mirror’s chief operating officer, said the news and politics site has sufficient start-up money to operate for three years while seeking a sustainable business model.

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