How do you feel about Indiana Public Radio, operated out of Ball State University? Ball State is a public university, and IPR's budget is made up of pledge dollars, underwriting donations, CPB grants, and funding from the university (a mix of tax dollars and tuition dollars). IPR is operated by a mixture of professional staff and Ball State communications students.
http://www.bsu.edu/ipr/Default.htm
http://www.bsu.edu/ipr/Default.htm