Black journalist group shores up financial house

The group, the largest of its kind in the U.S., establishes an advisory board to curb the losses and bring in fresh money.

By TIM GRANT

© St. Petersburg Times,
published August 25, 2001

ORLANDO -- Facing bankruptcy, members of the nation's largest association of black journalists voted Friday to establish a "shadow board" to look after its finances.

It was a critical decision for the National Association of Black Journalists. At the rate it has been spending money, the organization could exhaust its $1.7-million reserve in a year.

The shadow board would consist of two independent financial advisers, a media CEO and two NABJ members.

Members were conflicted about creating the new board, but they compromised by deciding it would only advise the elected board and not have the power to veto its financial decisions.

"We believe it is a good first step," said Washington Post reporter Jackie Jones. "We believe it is a critical step."

Attendance at this year's convention at Walt Disney World is about 2,700, less than the 3,000 NABJ needed for the convention to be profitable.

As a way to raise money, future conventions will be held in cities where they've been most successful in the past.

Those cities include Washington, Chicago, Atlanta and Baltimore.

NABJ also will raise convention and membership fees and require its 19-member board to raise money.

"Either we give, get or get off the board," NABJ president Will Sutton said. "If you are not able to raise the money, you need to give up your seat."

Considerable blame has been placed on Sutton, a deputy managing editor at the Raleigh News & Observer. Sutton said he inherited some problems but conceded there was mismanagement during his term.

"In hindsight, I wish I had asked even more questions of our executive director and treasurer," said Sutton, adding that he learned of the grave financial problems in December although he has served as president for two years. "For that I apologize."

Last year, the NABJ's expenses were $2.5-million, while its revenues totaled $1.6-million.

Compounding the problem, the group lost $436,000 in the stock market.

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