Oxford American Magazine Saved by Anonymous Donation

-- February 22, 2009: Folio magazine reported that the Oxford American has been saved by an anonymous $100,000 donation. The literary magazine faced a hefty IRS fee following alleged embezzlement:

"After months of negotiations with the Internal Revenue Service over thousands of dollars owed in unpaid taxes, non-profit literary magazine the Oxford American Friday received a much-needed surprise: a donation of $100,000.

“It was an extraordinarily generous gesture,” publisher Warwick Sabin told FOLIO:. “Without it, we might have gone out of business.”

Sabin said the donor, who wished to remain anonymous, is a graduate of the University of Central Arkansas, where the magazine is published. “The donor indicated that they had been reading the magazine since its inception and was glad that it is located on campus,” he said. “The donor saw this as an opportunity to support both the university and the magazine.”"

Go to the Oxford American magazine profile for more information about the magazine.

Or see the latest Mondo Times media news & reviews.