While the news industry struggles to find a sustainable revenue model, newsrooms including Reuters and some promising digital startups have announced mass layoffs in recent months. Meanwhile, nonprofit newsrooms are growing in influence and impact, relying on funding from foundations and individual readers, while billionaires are coming to the rescue pumping money into floundering news operations like the LA Times and TIME Magazine, following on the heels of Jeff Bezos' success at he Washington Post.

What are the advantages and pitfalls of journalists soliciting donations from readers, foundations and grant-makers, and knights in shining armor trying to save journalism with infusions of cash? Join Indira Lakshmanan of nonprofit Pulitzer Center; Alan Rusbridger, formerly of the Guardian and now chair of RISJ; Vivian Schiller of the Scott Trust and the Civil Foundation and Craig Newmark, who has donated millions of dollars to support a range of news organizations, to discuss the pros and cons of relying on philanthropy to support news and information.