The Friends of The Daily Texan, Inc., a non-profit group created by Texan alumni to help build a strong future for The Daily Texan, has created an Innovation Fund to support a sustainable future, quality journalism and innovative work at the student newspaper at the University of Texas at Austin.

Friends of The Daily Texan is a non-profit organization formed in the spring of 2013 by a group of concerned alumni. The Daily Texan is known as one of the best student-run newspapers in the country, producing notable alumni like Walter Cronkite, and fulfilling an important watchdog role at the University of Texas.

But in recent times, the newspaper has struggled for survival, with its revenue and circulation dropping in half over five years.

As with the industry overall, it faces challenges transitioning to a profitable business model in a digital world, and the Friends group has that as a key part of its efforts to assist.

Through mentorship, fundraising, networking and public education, Friends of The Daily Texan works alongside current Texan staffers to continue the publication’s rich tradition of journalistic excellence into the future.

Projects funded by the Innovation Fund may be in print or in new technologies; they may be one-­shots or they may be as permanent, long-term efforts. Supporting the editorial quality, all platforms and financial stability are key items.

They shall reflect the creativity of “a University of the first class,” and they shall contribute to a secure financial future for the organization.

The Friends of The Daily Texan intends to raise a minimum of $50,000 for the Innovation Fund by Dec. 31, 2015. The first effort to this end is the Griff Singer Luncheon during the UT School of Journalism’s Centennial, honoring the beloved mentor of three generations of Texan staffers.

The Friends will work with Daily Texan staff, Texas Student Media leadership and officials of the Moody College of Communication to develop written procedures for the use of the fund with one underlying goal – the preservation and sustenance of The Daily Texan as a robust, independent voice of the students of the University of Texas.

The Friends of The Daily Texan, Inc. has applied to the Internal Revenue Service for nonprofit status under Section 501(c)(3) as an educational organization and fully expects that contributions to the entity will be tax-­‐deductible.

For more information about Friends of The Daily Texan and the Innovation Fund, visit www.texanfriends.org, or contact Cliff Avery ([email protected]) or John Reetz ([email protected]).