I must be old fashioned. I just don't get the modern way of begging for money that seems to be in fashion these days. Everything from 'influencers' wanting free stuff, to people wanting their followers to pay for their overseas holidays. It doesn't sit right with me.
It doesn't have to sit right with everyone. It is an honor system. Some people pay to enable more of this kind of work. Others get a free ride.
The reason for the new way is that barriers to publishing have crumbled. When we had print, then you couldn't easily give a copy of the information to your friend. With online, you can "hot link" to any graph, copy and paste information, etc. So instead of trying to figure out how to erect a pay wall, we let everyone see the information and hope that others help pay something to defray the costs.
As to the core of your point, I set up a forum without any request for donations. That part I can run on my dime. But then we got into audio testing. I did a few with the AP gear I already had. Again, no request was made for any money because cost was not an issue.
Next phase was people sending me gear to test. I then had to pay to send them back. So defraying that cost through donations so that we could scale was necessary. Otherwise, I would have selected what to test that had value to me personally. Right now I say yes to just about anything people want to send in for testing.
The following phase was testing USB DACs. My AP could not test them that way and the process was manual and tedious. So I decided to buy a new AP at a retail cost of $28,000 plus $1,500 for the AES filter. I didn't ask anyone to help fund it. I made the investment to meet the demand for testing and for my own satisfaction of having better test tools.
We could stop here and all would be well. I am deep in the hole financially but the donations will eventually make me whole.
What got us here was the frequent request to test things that vary a ton from ideal response compared to electronics. Namely speakers and headphones. I was dead set against speakers due to logistical costs, effort, etc. But I accepted that chore and burden because I think collectively we will all advance our knowledge of speaker technology by testing them in detail with advanced methodology.
Put another way, we are collectively getting together to enable something that individually we cannot.
As to where the forum may go in the future, maybe it will become business success. It is quite far though as even in the best case scenario, I will be fund tens of thousands of dollars for the test instrumentation alone. My time and opportunity cost of that will dwarf that. Break-even point is quite far if we go in this direction. I am actually better off not spending more. But my conscious is not clear, optimizing things for me.
The majority of the membership has voted that it wants to see us expand into testing speakers (and headphones). And I am willing to donate my time and significant money toward it. Question is how to make up the shortfall between what I am willing to do and the cost of the gear.
We could do things your way which is me having a business plan for the site. That would immediately call for advertising and sponsorships. Our forum has become highly popular. We have nearly a million visitors a month! With some exceptions, we are the most popular audio website. And growing. I know how to do this and still be objective.
Alas, the membership doesn't like the optics of above. It rather be sure that there is never an influence over something being reviewed. To that extent, then I can't exercise the options you mention. We have to rely on other income and donations is it.
Finally, please don't compare me to random online blogger. I don't ask for free stuff from manufacturers. They sometimes offer them to be me but vast majority of what I test is either something I buy or someone has sent it in.