The scramble to save StreetWise, the weekly Chicago magazine that employs homeless people as vendors, appears to have succeeded, the Chicago Tribune reports.
Last week, after a City Council hearing brought the struggling publication's financial plight to citywide attention, donations began pouring in. StreetWise said it needed $75,000 in 45 days to continue printing. It got it in less than a week.
StreetWise managers declined to say how much exactly they had raised, but they have scheduled a press conference for Wednesday at their West Side office.
The non-profit relies on foundations for nearly half of its yearly $500,000 budget and its benefactors have been hard-hit by the flailing economy.
Aldermen are working with StreetWise on long-term financial solutions.
As of early Wednesday morning, StreetWise had raised $190,000 -- far more than the $75,000 it said it needed within 45 days to continue printing, the Chicago Tribune reports.