Many journals have come and gone, and I believe that it is very important to convince authors and funding agencies that the journal will last, especially if the site will serve as a data depository. One option would be for an existing society to develop the journal. My personal preference would be a joint effort among various societies, organizations, and NGOs. I am willing to dedicate much of my time to this effort, but the guidance and support for fundraising from different groups will be invaluable.
I strongly believe that the journal should be open access, but this eliminates one source of income. Another source of income could be page charges. The e-journals PLOS Biology and Ecology and Society are charging each article $US 2500 and $US 500, respectively. I think the journal should establish page charges, but if they are too high this will create another barrier for publishing. Furthermore, I can imagine that the page charges for many articles will be waived. So, where will the funds come from? The options that come to mind are: grants from foundations and government agencies and advertising. Personally, I do not find Google Ads offensive, but I do not have any idea of how much money they can generate. This is a topic I will investigate during the next week.