WisconsinEye Board of Directors Chair Mark O’Connell called WisconsinEye “a worthy, appropriate use of state funds” for people to know how their elected officials are “controlling and charting the course of our future.” (Screenshot via WisconsinEye)

An Assembly committee voted Tuesday to advance a bill to provide long-term support to WisconsinEye, the state’s nonprofit news organization that livestreams and archives government meetings and legislative sessions.

WisconsinEye resumed its coverage in February — after more than  a month offline — with the help of a $50,000 cash infusion approved by the Joint Committee on Legislative Organization Monday.

Mark O’Connell, chair of the WisconsinEye Board of Directors, explained the organization’s financial difficulties to lawmakers during the Assembly State Affairs committee hearing. 

After going off air, O’Connell told lawmakers on the committee that WisconsinEye had reduced some salaries and cut back on expenses as much as possible. It also turned to state lawmakers, who had already set aside $10 million to be used for an endowment for the organization, but with match requirements that WisconsinEye could not meet. The organization also started to boost its fundraising efforts among small-dollar donors. A GoFundMe has raised over $56,000 as of Tuesday.

“While you allocated $10 million to WisconsinEye and said, ‘If you can raise $10 million, we’ll give you matching dollars up to $10 million,’ — that was incredibly gracious of you — but that was hard, hard to the point where it couldn’t be done in a very difficult fundraising environment,” O’Connell said. “That has resulted in where we are today.” 

O’Connell called WisconsinEye “a worthy, appropriate use of state funds” for people to know how their elected officials are “controlling and charting the course of our future.”

Under the Assembly proposal, which was first announced by Assembly Minority Leader Greta Neubauer (D-Racine) and Assembly Speaker Robin Vos (R-Rochester) last month, the match requirements for the $10 million would be eliminated and the money would go to establishing an endowment fund for WisconsinEye.

“WisconsinEye will still have to put in quite a bit of work and raise the remainder of their operating budget each year,” Neubauer told lawmakers Tuesday. “If we assume a rate of return of about 4 to 7% on the endowment, WisconsinEye will still have to raise hundreds of thousands of dollars each year to be able to maintain something close to their current budget, which is $950,000 annually.” 

Neubauer said the organization has said that maintaining that budget is necessary to operate at its current level and to meet its contractually obligated services. She added that she hopes that one day WisconsinEye would be able to cover every committee meeting and hearing in the state Capitol, though that would “require strong private fundraising from them.”

“If we… bring in about $600,000 from the endowment each year, they would need to raise about $350,000. They have communicated that they think that that’s possible,” Neubauer said. “They would live off the interest. The endowment stays with the state of Wisconsin.”

O’Connell told lawmakers that approving the bill would help secure additional funding from donors. 

“We are going to continue to raise funds as best we can. We currently have seven entities that contribute $25,000 per year. We have one entity that contributes $50,000 per year. We have a handful of folks that, to the tune of about $175,000, that are waiting to see if this commitment from the state is solid, and if it is, then we’re going to see those funds come in,” O’Connell said. “I am very optimistic that if we can come to a resolution on this piece of legislation, that we are going to be in a relatively strong position to have a solid base with the partnership with the state as we continue to do fundraising in the private sector.” 

The proposal would require WisconsinEye to add four additional members to its board of directors who would be appointed by each legislative caucus leader, focus its coverage primarily on official state government meetings and business, provide free online public access to its live broadcasts and digital archives as well as submit an annual financial report to the Legislature and the Joint Finance Committee. The board appointees would not be allowed to be current legislators.

The bill also states that if WisconsinEye ceases operations and divests its assets, then it must pay back the grants and transfer its archives to the Wisconsin Historical Society.

O’Connell said there are some other details that need to be worked out with the bill. He said WisconsinEye will need “bridge financing” to help the organization function until interest from the trust fund begins to come in. 

“We’ve got to operate between now and whenever that return comes in, so we’ll need some kind of bridge. We’ll work with the Legislature on that,” O’Connell said. “We will need to work on the trust fund language. We would like the state of Wisconsin investment board to be aggressive… There are some issues we’ll have to address, but we are incredibly appreciative of the state of Wisconsin… saying [to] the citizens of Wisconsin, it is important for us in the Legislature for you to know what we are doing.”

The committee approved the bill unanimously immediately following the public hearing, setting it up for a vote in the full Assembly in the near future.