By Tamara Baluja, Associate Editor
The Canadian University Press (CUP) has launched a fundraising campaign to raise $50,000 to save itself. The newswire in dire financial straits, and if the money cannot be raised by April 13, it will likely shut down.
Video courtesy of CUP
The newswire, which is a non-profit co-operative of Canadian campus newspapers, has a projected deficit of $7,000 for this year. President Erin Hudson told J-Source last month that it has no more savings to draw from to cover its deficit.
“We’ve had to lay off all part-time staff, cut full-time staff salaries and benefits and our overhead dramatically,” Hudson wrote on the Indiegogo crowdfunding website. “If we meet our fundraising goal, we’ll be able to meaningfully rebuild and fortify our capacity to offer valuable opportunities and resources to student journalists.”
If not, CUP will scale back the services it offers to its member newspapers, such as a popular national conference, legal services and editorial content.
CUP has been in a difficult financial situation since some of its largest members left to form an alternative newswire. CUP has lost 35 members—down from 90 members a decade ago.
Related content on J-Source:
- Canadian University Press in financial crisis
- CUP memo on laying off part-time staff
- Student newspapers launch alternative newswire to Canadian University Press