Three years ago, the publishing board set a strategic goal of financial stability.
As local community newspapers around the country falter, consolidate or suspend operations, the Key Peninsula News continues to prosper, fueled by enthusiastic readers, advertisers and a growing list of financial underwriters.
The most recent grant was awarded by the Gig Harbor Morning Rotary Club to support developing enhanced online community service capabilities with a new website launching this summer.
Support from The Angel Guild has sponsored the newspaper’s popular print and online community calendar for the past five years. For 2020, a generous grant was added to underwrite printing costs for the first quarter.
The newspaper’s annual giving campaign has benefited from readers’ appreciation year after year. In 2019, the campaign set a new record, with readers’ donations spurred by a matching program from the Fund for Nonprofit News at the Miami Foundation. The $22,000 matching funds were made possible by donations from the Democracy Fund, the John S. and James L. Knight Foundation, the Jonathan Logan Family Foundation, the Ethics and Excellence in Journalism Foundation, the Bernard and Anne Spitzer Charitable Trust, the Dirk and Natasha Ziff Foundation, and the Present Progressive Fund at Schwab Charitable, along with supporting partners across the U.S.
Advertising support not only shows community support, it directly funds two-thirds of the newspaper’s budget. The pandemic has not curtailed the support of local businesses; in fact advertisers have increased their reliance on Key Peninsula News to reach their customers.
The newspaper’s financial independence is assured by increased underwriting, advertising and reader donations. While other community papers close, the KP News is adding circulation, new donors and gracious notes of appreciation from readers.