The energy surrounding the growing field of non-profit groups doing in-depth journalism caught my attention last summer. So I was encouraged to read an Associated Press story from this past weekend that notes the success of these groups in in raising cash.

Foundations have poured $134 million into news projects and programs in the past five years, according to an estimate cited in the story. Half of that went to investigative reporting.

While that sounds promising, the story notes, "foundations are unlikely to want or be able to support journalism forever." These groups are destined to face the same business issues as everyone else, principally developing stable sources of revenue.

One of the newest groups on the block, California Watch, is a project of the Center for Investigative Reporting. In addition to its own work, California Watch tracks investigative stories on key beats in newspapers throughout the state. Its Web site is a slate of enterprising, quick-hit stories that should inspire any journalist.

For example, check out yesterday's blog entry by Mark Katches, editorial director of the fledgling group. He surveys investigative journalists throughout the country for a list of more than a dozen top stories from last year.

You may be thinking, "These are great stories, but most came from national or big regional newsrooms." So be sure to note the story by the 29,000-circulation daily in southern Virginia that breaks into Katches' list.