Press Forward, the nonprofit founded in 2023 to bolster local journalism, reported Tuesday that it has completed investing almost $600 million in news organizations—about two years ahead of its original timeline. Executive Director Dale Anglin emphasized that while the milestone is significant, the work to secure sustainable funding for local news continues.
Expanding funding tools
Anglin told the Associated Press the news industry is undergoing an “incredible transformation” that will take time to resolve. To address this, Press Forward is broadening its approach beyond traditional donations. The group has helped launch a $21 million impact‑investing fund with Social Finance and the Knight and MacArthur foundations, offering small loans to outlets that might otherwise be denied credit.
Press Forward now counts 144 funders, including major foundations such as the John S. and James L. Knight Foundation, the John D. and Catherine T. MacArthur Foundation, and the Democracy Fund. The organization likens long‑term journalism support to the way communities fund arts and education.
Local chapters drive results
Fifty Press Forward chapters across the United States have collectively invested $87 million in their communities, with $53 million contributed in the past year alone. Chapter leaders say solutions to news‑room challenges are often rooted in local action.
In Chicago, executive director Tracy Baim described a pooled‑fund model that aggregates donations from multiple foundations to reduce risk and encourage participation. The first pooled fund, which gathered nearly $1 million from 12 donors, supported expanded immigration reporting by outlets ranging from ProPublica to local Latino and Chinese language publications. A second fund focused on education, helping outlets cover Chicago Board of Education elections.
Philanthropy’s role and limits
Knight Foundation President and CEO Maribel Perez Wadsworth noted that while a half‑billion‑dollar national commitment signals urgency, the deeper goal is to raise public awareness of reliable news as a public good. She warned that philanthropy alone cannot sustain journalism forever, urging the development of viable business models.
Other major funders, including the Ford Foundation, are also shifting resources toward journalism as a cornerstone of democratic health. Smaller nonprofits such as Public Media Co. are focusing on trustworthy local information to keep public radio viable amid ongoing federal funding cuts.
Looking ahead
Press Forward plans to promote policy changes that encourage cooperation among news outlets, provide infrastructure grants, and support training for new reporters in regions like Minnesota and Kentucky. Anglin stressed that there is no “silver bullet” for the industry’s financial woes, but coordinated philanthropy can buy time for outlets to innovate and become self‑sustaining.
Original reporting: Capitol City Now (WTAX 1240 Springfield) — read the source article.
