Magazine article Editor & Publisher

Inter Press Cuts Support for N. American Outlet

Magazine article Editor & Publisher

Inter Press Cuts Support for N. American Outlet

Article excerpt

FINANCIAL PROBLEMS AT Inter Press Service are threatening the future of its Global Information Network distribution wing.

The difficulty bodes ill for GIN'S subscribers: 28 English-language and 15 Spanish-language publications or broadcasting outlets, and databases such as Nexis, Comtex and Information Access.

The papers range from the black-oriented City Sun of New York to Illyria (the Balkans) and the Turkish Times, as well as El Mundo, El Tiempo and La Voz Hispana, which take the Spanish-language service.

Global Information Network is subsidized by Inter Press Service, but financial belt tightening by IPS has cut support from $59,000 in 1993, or 42% of the GIN budget, to $34,000 in 1994.

The funding cut, executive director Lisa Vives said, is "the most serious problem facing Global today, and one that threatens the future of the agency.

In 1993, GIN'S revenues were $138,346, and its expenses were $124,572, for a surplus of $13,744. Accounts payable and accrued expenses brought the net assets at the end of the year to $8,735.

Vives hopes that revenue from additional clients and grants from funding organizations will enable GIN, which was founded 25 years ago as InterLink Service, to improve services to its mostly minority and ethnic-interest clients in the United States and Canada. She is looking for expert, "preferably cheap" assistance in raising funds.

The nonprofit corporation has reorganized recently and named a new board directors. …

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