Will $5M donation for new media institute be enough? Will $5M donation for new media institute be enough?

David Haas and the Wyncote Foundation will give a combined $5 million to an endowment that seeks to secure the future of quality journalism in the Philadelphia region – and help the Inquirer, the Daily News, and Philly.com in particular.

“Gerry” Lenfest shook the media landscape when he announced that he had donated the Inquirer, Daily News, and Philly.com to the newly created Institute for Journalism in New Media.

The move opens philanthropic avenues to fund the company’s journalism, allowing charities, corporations, and other benefactors to give to the institute to support reporting projects and new ways of disseminating news.