StreetWise staff and the papers' vendors will be able to stay in business a while longer, thanks to the generosity of James and Kay Mabie of Chicago who have pledged a $25,000 donation.
"Twenty five thousand right now and $5,000 later as a challenge to encourage others to help with the financial support," said James Mabie, StreetWise donor.Three to one or four to one challenge.
The newspaper was created in 1992 is sold by about 200 vendors for $2. Most of them are homeless and for many this is their only source of income.
Nathaniel Davis has been selling streetwise for over seven years. He says it has been his lifeline.
"I hope somebody continues donating money so we can continue," said Davis.
Roark Moody, a former editor, lost his job in 2000. StreetWise has been his savior.
"Twenty five thousand is going to go far and will keep the vendors on the street," said Moody.
StreetWise staff members says in these difficult economic times the paper has lost major support from foundations and has been facing closure.
"This money will make so it will not happen and tide us over for a few months," said Bruce Crane, executive director, StreetWise.
On Tuesday after hearing testimony from StreetWise vendors, Chicago aldermen promised to save the publication.
"I would like to thank everyone for supporting streetwise," said Patricia Tillman, StreetWise vendor.
The organization says they need $50,000 to $75,000 to continue and the Mabie's donation has encouraged others to give.
The couple will be meeting with Streetwise officials on Friday.