Associated Press Launches $100M Nonprofit to Tackle Local News Crisis

Jun 25, 2024, 01:15 PM

The Associated Press (AP) is launching a new nonprofit organization, The AP Fund for Journalism, aimed at raising at least $100 million to support state and local news. The AP Fund for Journalism will operate as an independent 501(c)3 charitable organization with a separate board. AP President and CEO Daisy Veerasingham emphasized the critical crisis facing local news, which this initiative seeks to address. So far, the AP has raised $61 million in philanthropic funding, with the goal of raising an additional $100 million. The announcement was reported by Axios on June 25, 2024.