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As it prepares to mark its 40th anniversary this week, the National Association of Black Journalists is in trouble.
After running a deficit of $227,000 last year, the NABJ — the country’s oldest and largest minority-journalism group — told its members in November that it expects to end 2015 even deeper in the red.
With an estimated shortfall of $380,000 in a budget of roughly $2.5 million, NABJ has slashed operating expenses, eliminated three staff positions — including that of Darryl Matthews, its executive director — and sold off $400,000 worth of its investments. In addition to adopting “zero-based budgeting,” which requires managers to justify all of its expenses, it is considering closing its office in College Park, Maryland, and operating in a virtual capacity. It has hired a consultant to help it weather its funding crisis.
“It is not a pretty picture for NABJ,” states an assessment from the group’s finance committee, presented to the board in October. “If NABJ does not increase revenues in 2016, the organization’s financially [sic] viability will threaten the organization’s ability to operate and keep its doors open.”
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