Great news from Kit Rachlis, editor of the American Prospect, a distinguished but cash-strapped journal of liberal ideas:

We made it! 

(As someone once said, woo-freaking-hoo!!) 

At the eleventh and a half hour on Monday, the Prospect received news of two big gifts that put us over the top of that once unreachable-sounding fundraising goal. Since word of our financial situation first became public—just seven weeks ago—the campaign to “Save the Prospect” has raised just under $1.3 million dollars. We are stunned, pleased, and enormously grateful. [TAP]

For several weeks, the fate of the Prospect hung in the balance. Thanks to the generosity of its donors, and the tenacity of its fundraisers, the liberal magazine will continue to produce the high quality reporting and policy analysis that its admirers have come to expect.

The Prospect, co-founded in 1990 by Hillman judge Harold Meyerson, has been an incubator for liberal talent. Pulitzer Prize-winning reporter Nick Confessore got his start there before moving on to the New York Times. Hillman Prize-winners Ezra Klein and Jon Cohn are also Prospect alums. The magazine currently serves as a platform for such talented young writers as Amanda Marcotte, Scott Lemieux, and Monica Potts.

[Photo credit: Lindsay Beyerstein, all rights reserved.]