TVO’s $2M donation a rare gift for Canada’s struggling news industry
TORONTO — A $2 million donation to TVO is being hailed as a boost for the financially struggling media industry, but experts say it’s unlikely to spur similar investments because the country’s laws discourage philanthropic funding of news.
The endowment, from the Barry and Laurie Green Charitable Trust and Goldie Feldman, is intended to cover the costs of creating four local journalism hubs in Ontario, starting with Thunder Bay. The funding would also go to hiring at least four journalists and create internship opportunities, said John Ferri, TVO’s vice-president of current affairs and documentaries.
Though it receives most of its funding from the provincial government, TVO is also a registered charity, and as such it can issue tax receipts for charitable donations. Most media outlets don’t qualify for registered charity status for a number of reasons — namely because they’re in the business of trying to make money.
Without being able to provide a tax receipt, there’s less incentive for foundations or big-pocketed donors to step in with funding for news organizations that have shed hundreds of jobs amid a steep decline in advertising revenue.