Hartford Business Journal recently formed a new partnership with the Hartford Foundation for Public Giving to accelerate HBJ’s coverage of the nonprofit sector in 2020.
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Connecticut’s news media and nonprofit sectors are experiencing significant change and challenges. Yet, the services both industries provide are needed now more than ever.
Nonprofits, many of which rely on government funding, have seen their state and federal revenues decline in recent years amid Connecticut’s perpetual budget crises and changing priorities in Washington, D.C. That’s forced many tax-exempt organizations to rethink their business models just as demand has increased for the social and other important services they provide, including community safety and skills-training programs.
Many news media companies have seen a steady decline in advertising revenue as more readers get their news, and more companies shift their marketing budgets, online. Meantime, the need for trusted, independent journalism has never been greater, especially as disinformation spreads like wildfire on the internet and in our national discourse.
It’s amid that backdrop that Hartford Business Journal recently formed a new partnership with the Hartford Foundation for Public Giving. The Foundation will sponsor HBJ’s coverage of the nonprofit sector in 2020.
Starting in this week’s issue you’ll notice a refreshed “Nonprofit Notebook” that will appear in 13 HBJ print editions this year. The Notebooks, which will also appear online, will include news stories spotlighting important issues impacting nonprofits and the role charitable organizations play in tackling societal problems. We’ll also explore the business and economic impact of nonprofits and individuals and companies that fund them.
If you have story ideas you think are relevant to our business audience feel free to email me at gbordonaro@hartfordbusiness.com.
This week’s Nonprofit Notebook highlights the industry’s role in workforce development, which has become a hot-button issue as our population shrinks, high schools graduate fewer pupils and droves of Baby Boomers head toward retirement.
HBJ has always covered the nonprofit sector, but the Hartford Foundation’s sponsorship provides us the resources to do it more regularly. That’s significant because nonprofits have an outsized impact on Connecticut’s economy.
According to Independent Sector — a national coalition of charitable organizations, foundations and corporate-giving programs — nonprofits employ 14 percent of the state’s workforce (or 209,356 people) and generate $37 billion in annual revenues. They also hold $121 billion in assets, while Connecticut residents donate about $3.4 billion annually to charitable organizations.
That is a lot of money floating around Connecticut’s economy.
Our Nonprofit Notebook coverage will be the same type of independent and fair-minded journalism readers have always expected from us. The Hartford Foundation will not be involved in story selection in any way.
In recent years, foundations all over the country have begun to fund important journalism as news media outlets search out new revenue streams. We value our partnership with the Hartford Foundation.
Hartford Foundation President Jay Williams said he’s pleased “to work in partnership with the Hartford Business Journal to highlight stories of Greater Hartford’s robust nonprofit sector.”
“Nonprofits are not just charities; they are employers, economic drivers and advocates for opportunity,” he added. “Now more than ever, we need to support fact-based reporting so that, collectively, we can help address the state’s significant challenges, ensure more equitable opportunities for our residents and build a more prosperous future for Connecticut.”
