Red Ink, a Center project developed by Ryan O’Toole to help consumers make better collective financial decisions, was named a notable entry in this week’s 2010 Knight-Batten Awards for Innovations in Journalism.

Said O’Toole, “It’s cool, whether talking to advisers or people I’m collaborating with, to get this kind of recognition, not only from outside MIT but from such an established journalism institution.”

O’Toole says he’s humbled to be in the company the other winning projects. “When you look at that list, it’s striking.”

His joins other notable entries such as Community Centered Advertising, created by Knight News Challenge winner Spot.Us, a collaborative local journalism project from the New York Times, and the Wall Street Journal for iPad.

The $10,000 Knight-Battan Award grand prize went to the Sunlight Foundation, for their work on Sunlight Live, which successfully reached more than 43,000 viewers during last February’s health care debate by providing policy context with live video, social media, and blogging.