Mastodawn

TJPBoston Mar 28, 2023

I said I'd logged off for the night but I'm logging back on to share the news that in less than 12 hours we hit $100,000 to support the Texas Observer team. Here's an update from @jamescanup (former fundraiser for TXO) on why we are increasing the goal to $200K in the hopes it will convince the board to keep our doors open.

We're so immensely grateful to everyone who has donated or shared already. 🤠https://www.gofundme.com/f/laid-off-texas-observer-journalists-and-staff

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Texas Observer Mar 28, 2023

Our understanding is $200K would allow us to keep the doors open for 1-2 months and give us enough runway to make a very compelling argument to the board that the publication has value. We hope it will also allow us to publish our upcoming issue, largely focused on #ReproductiveHealth, if the board allows it. We continue to seek larger donors, grants & benefactors that will help us sustain the publication long term.

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Texas Observer Mar 28, 2023

(p.s. the letter that is referenced in the update is the same one we posted earlier today here: https://texasobserver.social/@TexasObserver/110097008804619345)

Texas Observer (@[email protected])

Attached: 2 images Below is the letter the editors just sent to our Board of Directors, asking them to please allow us to try and save the Texas Observer, rather than simply shut us down. It's too long for alt text so I will make an Unlisted thread below. #SaveTXO #Journalism #Nonprofit

Texas Observer Social

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Frank D’Elia Mar 30, 2023

@TexasObserver Really sorry to hear this. So many storied authors wrote for you over the years, the late Molly Ivins among them. This is a monumental loss for the people of Texas, whether they know it or not

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Texas Observer Mar 30, 2023

@FrankDelia7 thank you, Frank! Check our pinned post as we've won this round 😎

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Pat Mar 28, 2023

@TexasObserver take the money and go independent.

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TC Won't Give In To Lies Mar 28, 2023

@TexasObserver
GoFund me is great for a one time boost, but are there subscriptions that people could signup to and secure an ongoing revenue stream?

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ScottinSoCal 🇺🇦 🕊 🏳‍🌈Mar 28, 2023

@TexasObserver

I donated, and I subscribed, for what good that does. But if the board sees a spike in subscriptions, showing they can sustain - hopefully they'll change their minds?

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TC Won't Give In To Lies Mar 28, 2023

@TexasObserver @[email protected]

Of you value independent journalism in the voter suppressed state of Texas, consider donating ☝☝☝

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T Y Beaulieu Mar 28, 2023

@TexasObserver @jamescanup who will be the owner(s)?
Is this going to be bought for the employees to own, I'n confused

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Tathar is dragons! ΘΔ Mar 28, 2023

@TYB @TexasObserver @jamescanup

I agree, this is an important distinction.

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Texas Observer Mar 28, 2023

@Tathar @TYB @jamescanup right now we are just raising money to cover payroll as we urge the board to keep us open and reorganize themselves. we are actively talking to benefactors and looking for more sustainable sources of funding. The future of the company is still up in the air but this money gives us time we need. A lot of possible options are unfolding for what we can do next but it's hard to discuss any of them yet, I'm afraid.

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Earthworm 🐌Mar 28, 2023

@TexasObserver @jamescanup

Maybe MDIF could be interesting for you.
https://www.mdif.org/
Mission statement:
"MDIF provides affordable debt and equity financing to independent media in a range of countries where access to free and independent news and information is under threat."

I am not sure whether media in the US can apply (the philantropic landscape in the US is really developed), but besides funding they offer excellent advice for media.

PD: For wealthy folks with the knowledge that their money could do better, the media development fund also offers the possibility of impact investment.

#ImpactInvestor #mdif #independentMedia #impactInvestment #investment #investing #funds