Vermont Journalism Trust
- Assets
- $2.7m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 52
- Location
- Montpelier, VT
- Founding
- 02/2011
- Data as of
- 12/2022
- EIN
- 27-1553931
Organization Overview
Vermont Journalism Trust is located in Montpelier, VT. The organization was established in 2011. According to its NTEE Classification (A30) the organization is classified as: Media & Communications, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Vermont Journalism Trust employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vermont Journalism Trust is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Vermont Journalism Trust generated $2.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.3% each year . All expenses for the organization totaled $3.8m during the year ending 12/2022. While expenses have increased by 21.6% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
INFORMATION IS POWER. THE MISSION OF THE VERMONT JOURNALISM TRUST AND VTDIGGER.ORG, IS TO GIVE THAT POWER TO VERMONTERS BY MAKING COMPLEX PUBLIC POLICY ISSUES READILY ACCESSIBLE, BY HOLDING GOVERNMENT ACCOUNTABLE AND BY GIVING READERS OPPORTUNITIES TO BECOME ACTIVE PARTICIPANTS IN DEMOCRACY.
Describe the Organization's Program Activity:
VTDIGGER IS AN ONLINE NEWS DAILY DEDICATED TO PUBLIC SERVICE JOURNALISM. WE COVER VERMONT POLITICS, BUSINESS, HEALTHCARE, EDUCATION, ENERGY, CRIMINAL JUSTICE AND THE ENVIRONMENT. OUR MISSION IS TO PRODUCE RIGOROUS JOURNALISM THAT EXPLAINS COMPLEX ISSUES, HOLDS THE GOVERNMENT ACCOUNTABLE TO THE PUBLIC, AND ENGAGES VERMONTERS IN THE DEMOCRATIC PROCESS. OUR NEWS REACHES OVER 600,000 UNIQUE READERS MONTHLY. OUR AWARD-WINNING REPORTING IS AVAILABLE FREE OF CHARGE AT VTDIGGER.ORG, A PROJECT OF THE VERMONT JOURNALISM TRUST,LTD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anne Galloway Until May 2022 Executive Di | Officer | 40 | $159,552 |
Jim Lehnhoff Chief Rev. O | 40 | $110,000 | |
Jim Welch As Of May 2022 Executive Di | Officer | 40 | $90,308 |
John Reilly President | OfficerTrustee | 1 | $0 |
Rob Woolmington Vice Preside | OfficerTrustee | 1 | $0 |
Kathryn Stearns VP & Secreta | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,198,843 |
| Noncash contributions included in lines 1a–1f | $36,546 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,198,843 |
| Total Program Service Revenue | $567,469 |
| Investment income | $6,182 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,772,494 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $18,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $264,330 |
| Compensation of current officers, directors, key employees. | $105,732 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,090,720 |
| Pension plan accruals and contributions | $51,883 |
| Other employee benefits | $157,911 |
| Payroll taxes | $184,556 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,206 |
| Fees for services: Accounting | $54,538 |
| Fees for services: Lobbying | $15,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $206,635 |
| Advertising and promotion | $7,250 |
| Office expenses | $208,101 |
| Information technology | $270,071 |
| Royalties | $0 |
| Occupancy | $82,891 |
| Travel | $22,728 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $51,873 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,861 |
| Insurance | $18,170 |
| All other expenses | $0 |
| Total functional expenses | $3,783,579 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $418,397 |
| Savings and temporary cash investments | $1,748,742 |
| Pledges and grants receivable | $402,117 |
| Accounts receivable, net | $46,381 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $14,932 |
| Net Land, buildings, and equipment | $7,964 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $61,666 |
| Total assets | $2,700,199 |
| Accounts payable and accrued expenses | $203,201 |
| Grants payable | $0 |
| Deferred revenue | $20,216 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $57,399 |
| Total liabilities | $280,816 |
| Net assets without donor restrictions | $1,887,460 |
| Net assets with donor restrictions | $531,923 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,700,199 |
Grants Awarded
Over the last fiscal year, Vermont Journalism Trust has awarded $18,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CHILDREN'S LITERACY FOUNDATION PURPOSE: BOOKS FOR CHILDREN | $6,000 |
VERMONT FOOD BANK PURPOSE: FEED THE HUNGRY | $12,000 |