Nonprofit journalism a la Mother Jones

Mother Jones is proving to be a test case for nonprofit journalism, according to the New York Times.

As newspapers and magazines suffer from declining subscriptions and advertising, the corporate, for-profit model is proving untenable (shrinking profits will do that, after all). Without the pressure of EPS, the nonprofit model, which relies on not just traditional revenue streams but also endowments, may be a better-suited model for the journalism industry.

Of course, the nonprofit model is not without its own problems. Sources of funding are shrinking due to the pesky stock market crisis, and there does have to be a firewall between the donors and the editorial board. The same consideration exists in traditional media, but the appearance of influence is even greater with endowments. If one entity is footing a substantial portion of the bill, the question is in the air, whether it's justifiable or not. It is probably one of the most frequently asked questions about the Christian Science Monitor, for example, is it a "real," independent newspaper? They have successfully answered the question, though, and I suppose if other newspapers and magazines go that route they will navigate it as well. And, of course, if it becomes a more widespread model and less of a rarity, it will become more accepted.

In short, it's all about finding a revenue stream to replace advertising and being able to provide quality journalism (well-written and sourced with original reporting--in case you need a definition). And, of course, whether enough people are interested in reading it and supporting it is probably the real bottom line.