You've missed my point. Determining what would be offensive would employ criteria that are rather subjective.
Isn't this the job of a forum Admin? To determine what is offensive? I have been an Admin for a messageboard before. There is no strict criteria that you go by, and generally you can enforce your own rules if you like (not saying you do) it's pretty much all subjective on a messageboard. Heck I had a topic killed in Adult/Heated because it was sexually themed.
As for the whole money issue, I was on a board that garnered close to as much traffic and we managed to keep it up for 3 years all on Donations. If this board couldn't garner the money, then well that is just extremely sad. How much money are we looking at for unlimited bandwidth on a messageboard? 2,000 or 3,000 at the most. People gave Trevor and others probably just as much and they really had no attachment to these people. I know it is up to debate as to if people would give or not, but I just can't see the nice people on here letting this board close down.