StreetWise

In 1991 a group of Chicago business people joined the Chicago Coalition for the Homeless to address the growing problem of street homelessness. In 1992, Judd Lofchie created StreetWise.^[3] About 200 vendors sell approximately 20,000 magazines weekly. The vendors buy the magazine for 90 cents each^[4] and sell for $2, keeping the profit.^[5] In 2003, it had the largest readership of any street publication in the United States of America.^[6]

Over time, the magazine has fallen victim to a slow economy.^[7] Foundation support had made up nearly half of StreetWise's $500,000 budget but is down 60 percent as of 2012. Ad revenues also are in decline and street sales have dropped 20 percent.^[7]

After publishers and board members announced on April 15, 2009, that declining revenues and foundation support might force a closure with 45 days, donations began pouring in. Before the end of the day, an influx of almost $41,000 helped the ailing publication halfway to its goal.^[7] Within a week, over $190,000 in donations were made, far exceeding the needed $75,000 to keep afloat.^[8]

During a February 2009 meeting, StreetWise's board of directors decided to fire Executive Director Michael Speer and began to discuss potential replacements.^[1] Bruce Crane was promoted to turn the company around. Crane reduced operation costs and increased ad sales. The organization went from $200,000 in debt to posting a net income of $1,168 last year under Crane.^[9]

Jim LoBianco, the former Commissioner for the Office of Homeless Services in Chicago, succeeded Bruce Crane as the magazine's executive director on January 1, 2011.^[1]

In 2008, the format changed from the original tabloid-style newspaper to a magazine publication.^[10]

• International Network of Street Papers
• North American Street Newspaper Association