Donors and readers have voiced appreciation for our decision to publicly disclose The Advocate’s finances last month, and so before sinking our teeth into the August financials we just want to again thank the community for all its support. Without the help we’ve received, there is no possible way we could still be here.
We started summer projecting an unsurvivable $16,500 shortfall for the season. Since then, private donors and local businesses have contributed and pledged $12,826 to keep the paper going. We still need $3,674 by the end of October, so please do consider a contribution if you haven’t yet.
While we appreciate the Gazette-Times reporting that The Advocate made over $5,000 progress paying debt over the last twelve months, the daily paper misreported that the donations we have received are being collected for debt repayment. Our budget for repaying debt comes exclusively from our advertisers, while all donations are explicitly directed towards our continued operation, including a deepening of our editorial efforts.
It is this model that we believe has helped ensure the paper’s continued survival, as well as has best served those choosing to give.
OUR AUGUST BUDGET
August is usually challenging at The Advocate, and this year was no exception. Advertising revenue was $8,413, and donor contributions were $690, for a total August income of $9103. The paper’s expenses were $4882 for labor, and $3389 for printing, and $1387 for other overhead, totaling $9,658. The printing expense is elevated relative to other expenses due to a five-Thursday month. Debt service of $257 is included in the above captioned expenses.
Retained income from months prior paid the $555 gap between revenue and expenses. An advertiser also agreed to accelerate their payments to help with summer revenue shortfalls.
Please visit our support page if you would like to contribute to The Advocate. If you would like a more comprehensive catch-up about our finances, please see the story we ran on August 15, 2018.