MinnPost, the nonprofit regional news site in Minnesota, ended 2011 in the black for a second year in a row, according to its annual report published today. Its year-end surplus — a bit more than $21,000 — isn’t exactly retire-to-the-Caymans money. But in a sector where so many nonprofit news outlets are struggling to find sustainability, the four-year-old operation is demonstrating that it can support itself.
MinnPost makes money from public radio-style memberships, advertising, grants, and events, including its annual MinnRoast. CEO Joel Kramer told me he is most pleased with the growth of individual and corporate support, which now represents a majority of the revenue pie, about $815,000. Grants made up about a fifth. Altogether, MinnPost raised $1.5 million.