Canada's National Observer publishes investigative reporting, in-depth analysis, solutions journalism, multi-media features, opinion and daily news coverage. We vigorously pursue stories that seek to identify and explore problems in society. We pursue stories about success and innovation to ensure that decision makers and members of the public are empowered to make informed choices. We have a special focus on how governments and industry make decisions as well as the factors that influence their policies. We strive to pursue coverage about human rights, democracy and justice, by shining a light on stories that are not always told.
Founded in March 2015, CNO strives to meet a high standard of ethics and to build trust and a loyal, engaged audience through transparency, accountability and evidence-based reporting. We are committed to producing journalism that is accurate, fair and complete, and our journalists strive to act with honesty, transparency and independence, including from conflicts of interest. We correct errors and provide significant clarifications quickly and prominently. You can find our ethics policy here.
We believe knowledge is an asset and that the public depends on journalists to bring them accurate, timely information. This information provides people with the wherewithal to make important decisions and to engage with society's challenges. We believe in the power of investigative reporting to improve the lives of Canadians, and that original reporting and analysis on the subjects we care most about push the conversation forward. We ask hard questions, check facts, reveal and correct mistakes when we make them, and listen to feedback from our audience.
We aspire to make our publication gender-balanced, to give women an equal voice as sources and as subjects of stories, and to have our sources, subjects and images reflect Canada's diversity. We recognize that we do not always live up to our own aspirations and regularly discuss how to make improvements. We are ambitious about our work as journalists. We believe that the readers who subscribe to our publication are the lifeblood, particularly in that they make our investigative journalism possible.
We believe that public feedback is not a one-way street -- that is, simply publishing your comments or letters. We are committed to engaging with you and taking action based on your suggestions, complaints and other feedback. You may help us develop an individual story or line of coverage, answer questions that a story may raise, identify related or under-covered issues, and teach us about new and diverse sources, experts and perspectives.
In line with this, we are committed to providing greater transparency about our journalism and offering regular points of contact and interaction. We believe that news organizations have a responsibility to engage with the public on the values, issues and ideas of the day, and that we have much to gain in return.
We use a variety of programs and techniques toward this end. Our programs include public events in Ottawa, Toronto and Vancouver. We are developing more ways to engage with our readers.
Founded in 2015 by Linda Solomon Wood, Canada's National Observer broke new ground in May 2017 when it became the first digital-only news site ever to win a National Newspaper Award. The award came in the business reporting category. We landed as a finalist for the Michener Awards, which are given by the Governor General at Rideau Hall. This is one of the highest honours in Canadian journalism and National Observer was the first online-only publication ever to have received a Michener citation, as a result of Mike De Souza's reporting on the proposed Energy East pipeline.
CNO was named a finalist by the Canadian Online Publishing Awards in the following categories: 'Best News Website' in Canada, 'Best Column or Blog, 'Best Continuing Coverage of a Story,' and 'Best Photo Journalism.' In November 2016, the COPAs named us 'Independent Publisher of the Year," and gave us top awards in the following categories: 'Best News Coverage', 'Best Digital Solution,' and 'Best Column or Blog,' for associate editor Sandy Garossino's powerful and popular commentary. National Observer ranked second in COPA's all-Canada competition for 'Best News Website,' right behind the Toronto Star, and has previously received two other nominations for investigative journalism awards from the Canadian Association of Journalists.
Ownership structure, funding, collaborations and editorial independence
Canada's National Observer is owned by Observer Media Group (OMG), and became a certified B corporation in April 2018. OMG qualified for B Corp status for its commitments to social and environmental sustainability, joining a global movement of people using business as a force for good. Observer Media Group was incorporated with the launch of Vancouver Observer, a deep local publication founded and edited by Linda Solomon Wood, which grew from a community blog into a news site publishing award-winning reporting and covering issues in communities across British Columbia. In July 2019, National Observer was accepted to participate in The Trust Project, a global consortium of news organizations that implement standards of transparency, called Trust Indicators, to help audiences evaluate the quality, integrity and reliability of journalism.
Observer Media Group is a corporation, registered in British Columbia. We chose this financial structure because we believe that treating journalism as a business makes us more innovative and forces us to strive to create a unique, exceptional publication. Linda Solomon Wood is the majority shareholder. Other shareholders include Director of Operations, Jenny Uechi, and journalist Mike De Souza, formerly the site's Managing Editor and now a reporter for Global News. An additional 9 independent investors also hold shares in the company. We know that our most important relationship is with our readers, however, and that readers will only pay for journalism they consider high value and unique.
In July 2016, the company launched its paywall with a goal to become reader-funded. Our success in charging for our journalism gives us confidence and allows us to continue to improve and expand our journalism capabilities. Subscription sales accounted for fifty percent of our revenue in 2019. These sales come from individuals and universities, The Government of Canada, foundations, NGOs and ENGOs, businesses and associations. The remainder of our revenue comes from fundraising campaigns for special projects.
We have no financial safety net, nor have we ever had one. We typically operate with a 3-6 month financial runway with an imperative to persistently inspire more people to subscribe and support our journalism. It is an enormous, but worthwhile challenge within a tumultuous and competitive environment. Financial realities compel us to go head to head for subscribers and donors with iconic publications like The New York Times, The Washington Post, and The Guardian, as well Canada's established corporate and independent news media. Nonetheless, by the end of 2021, we intend to cover 100% of our operations through subscription sales inspired by excellent journalism.
More about our funding and revenue
Canada's National Observer's seed funding came from two Kickstarter campaigns: 'Reports from the Energy Battlegrounds,' and 'Reports from the Race Against Climate Change' and equity from Canadian social impact investors and convertible loans. We continue in this tradition, returning to our readership to raise money for specific areas of coverage about twice a year. As we are not a charity, we are not able to issue tax receipts for these generous and important gifts. We do report back to donors large and small on the reporting their gifts made possible.
We collaborate with a number of foundations to produce in-depth coverage of journalism that we could not afford to do otherwise. As with all of our journalism, we retain full and complete editorial control of all of our reporting. We publish the names of foundations we work with on the project pages of the stories we produce with them. We've collaborated with the following foundations and companies on journalism projects:
First Nations Forward: BC Real Estate Foundation, Vancity Credit Union, Vancouver Foundation, Victoria Foundation, Catherine Donnelly Foundation, Echo Foundation, Community Foundations of Canada, I-SEA, the Koerner Foundation, the Canadian Centre for Journalism and the Donner Canadian Foundation. Canada's Clean Energy Transition: The Ivey Foundation, Trottier Foundation, and Vancity Credit Union. The Gordon Foundation: reporting on water. United Way of Lower Mainland (for Syrian refugee reporting in 2016); Vancity, Teck Inc. and Tides Canada (for Great Bear Rainforest reporting in 2016); Earthways Foundation (for environmental reporting in 2015) and Tides US (for general reporting in 2015). In a recent round, Observer Media Group attempted to raise one million dollars but fell short of the goal, selling $750,000 in shares at a $5 million valuation, working with the SVX platform housed at MaRS in Toronto. Shortly thereafter, Earthways Foundation made a convertible loan of $100,000 to help National Observer implement its marketing plan.
Observer Media Group was invited by The Canadian Journalism Foundation to participate in The Facebook Journalism Project's 2019 Accelerator on Audience Development and to receive a $100,000 grant to implement learnings from the accelerator. We received support from Heritage Canada's Canadian Periodical Fund in 2018. In 2019, we partnered with the European Union on a panel on climate change.