Local Media Foundation
- Assets
- $4.5m
- Revenue
- $5.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Lake City, MI
- Founding
- 04/2003
- Data as of
- 12/2022
- EIN
- 36-4427750
Organization Overview
Local Media Foundation is located in Lake City, MI. The organization was established in 2003. According to its NTEE Classification (P50) the organization is classified as: Personal Social Services, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Local Media Foundation 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, Local Media Foundation generated $5.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 50.1% each year . All expenses for the organization totaled $4.6m during the year ending 12/2022. While expenses have increased by 44.1% per year over the past 7 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.
Since 2021, Local Media Foundation has awarded 56 individual grants totaling $2,086,249. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THE FOUNDATION IS TO ENSURE A HEALTHY FUTURE FOR LOCAL JOURNALISM, WHICH IS ESSENTIAL TO A STRONG DEMOCRACY, BY REINVENTING BUSINESS MODELS FOR NEWS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WORD IN BLACK - WORD IN BLACK IS A COLLABORATION WITH TEN OF THE NATION'S LEADING BLACK PUBLISHERS, FOCUSED ON SOLUTIONS TO RACIAL INEQUITIES IN AMERICA.
BLACK GIRL MEDIA, CAROLINAS LGBTQ JOURNALISM, CLIMATE COLLABORATIVE, COLUMBIAN, COVID-19 LOCAL NEWS FUND, CROSSTOWN PROJECT, EDUCATION FUND, FUND FOR LOCAL JOURNALISM, INDIAN COUNTRY MEDIA, JOHN FARMER JOURNALISM FUND, KNIGHT NEWSPACK, LAB FOR JOURNALISM, LEB-TOWN, MANCHESTER INK, MCCLATCHEY LOCAL REPORTING PROGRAM, MIND SET, NEWSFUEL, NEWS IS OUT, NEW YORK AMSTERDAM NEWS, NY/MI SOLUTIONS JOURNALISM, OKLAHOMA MEDIA CENTER, PENN LIVE, SOLVING FOR CHICAGO, SOLVING SACREMENTO, SUMNTER, TELETRENDS, THE AFRO, THE DAYS COMMUNITY JOURNALISM
KNIGHT X LMA BLOOMLAB - DRIVING SUSTAINABILITY FOR BLACK-OWNED LOCAL MEDIA THROUGH TECHNOLOGY AND BUSINESS TRANSFORMATION.
LOCAL NEWS FUND - THE LOCAL NEWS FUND SUPPORTS JOURNALISM PROJECTS IN LOCAL COMMUNITIES FOCUSED ON SOLUTIONS TO IMPORTANT PROBLEMS INCLUDING HOMELESSNESS, EDUCATION, HEALTH INEQUITIES, CLIMATE ISSUES AND MORE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erica Smith First Vice Chair | OfficerTrustee | 1 | $0 |
J Tom Shaw Chair | OfficerTrustee | 1 | $0 |
Samantha Johnston Director | Trustee | 1 | $0 |
Shana Black Director | Trustee | 1 | $0 |
Lisa Bishop Director | Trustee | 1 | $0 |
Stephanie Slagle Director | Trustee | 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 | $1,965,928 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,965,928 |
| Total Program Service Revenue | $3,784,558 |
| Investment income | $17,799 |
| 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 | $5,768,285 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,450,203 |
| 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. | $451,277 |
| Compensation of current officers, directors, key employees. | $295,816 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,069,111 |
| Pension plan accruals and contributions | $31,791 |
| Other employee benefits | $146,956 |
| Payroll taxes | $112,988 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $54,890 |
| Fees for services: Accounting | $7,020 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $77,670 |
| Advertising and promotion | $35,226 |
| Office expenses | $22,504 |
| Information technology | $184,553 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $77,354 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $129,840 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,909 |
| Insurance | $0 |
| All other expenses | $6,350 |
| Total functional expenses | $4,554,696 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $158,313 |
| Savings and temporary cash investments | $2,410,906 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $509,650 |
| 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 | $0 |
| Net Land, buildings, and equipment | $8,535 |
| Investments—publicly traded securities | $1,404,854 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,657 |
| Total assets | $4,498,915 |
| Accounts payable and accrued expenses | $299,434 |
| Grants payable | $0 |
| Deferred revenue | $2,490,973 |
| 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 | $70,644 |
| Total liabilities | $2,861,051 |
| Net assets without donor restrictions | $637,864 |
| Net assets with donor restrictions | $1,000,000 |
| 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 | $4,498,915 |
Grants Awarded
Over the last fiscal year, Local Media Foundation has awarded $1,445,489 in support to 27 organizations.
| Grant Recipient | Amount |
|---|---|
PRIDE PUBLISHING & TYPESETTING PURPOSE: SUPPORT FOR JOURNALISM PROJECTS | $31,132 |
THE DAY PUBLISHING COMPANY PURPOSE: SUPPORT FOR JOURNALISM PROJECTS | $46,377 |
AFRO AMERICAN CO BALTIMORE CITY PURPOSE: SUPPORT FOR JOURNALISM PROJECTS | $87,341 |
LEE PUBLISHING COMPANY PURPOSE: SUPPORT FOR JOURNALISM PROJECTS | $70,328 |
VOICE NEWS NETWORK INC PURPOSE: SUPPORT FOR JOURNALISM PROJECTS | $71,283 |
THE WASHINGTON INFORMER PURPOSE: SUPPORT FOR JOURNALISM PROJECTS | $73,438 |