April 26, 2019
April 25, 2019 – The City, a website covering local news in America’s biggest metropolis, debuted this month with a bank account some of its nonprofit peers could only dream of. Backed by almost $10 million from philanthropies and individuals, the New York-based news organization has more than double the cash that nonprofit-pioneer the Texas Tribune had when it started 10 years ago. Still, the City’s publisher is taking nothing for granted. A former investment banker, John Wotowicz is constantly looking for additional sources of funding. He’s planning to spend about $4 million this year, much of it on his 18 reporters. If the donations stop flowing, the City will run out of money by 2022.
