Local Media Association
- Assets
- $3.5m
- Revenue
- $4.2m
- Investments
- $1.0k
- Employees
- 27
- Location
- Lake City, MI
- Founding
- 10/1971
- Data as of
- 12/2022
- EIN
- 52-0914204
Organization Overview
Local Media Association is located in Lake City, MI. The organization was established in 1971. According to its NTEE Classification (A03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Local Media Association employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Local Media Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Local Media Association generated $4.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.4% each year . All expenses for the organization totaled $4.5m during the year ending 12/2022. While expenses have increased by 21.0% 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 Association has awarded 65 individual grants totaling $2,853,330. 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
HELPING LOCAL MEDIA COMPANIES DISCOVER NEW AND SUSTAINABLE BUSINESS MODELS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE READER REVENUE ACCELERATORS TEACH LOCAL MEDIA ORGANIZATIONS HOW TO DEVELOP A STRATEGY AROUND DIGITAL SUBSCRIPTIONS, MEMBERSHIPS OR DONATIONS. UPON SUCCESSFUL COMPLETION OF THE PROGRAM, THEY ARE AWARDED GRANTS TO TEST NEW IDEAS, TECHNOLOGY OR MARKETING STRATEGIES BASED ON WHAT THEY LEARNED IN THE LAB. THEY ARE REQUIRED TO REPORT BACK ON THEIR LEARNINGS AND CASE STUDIES ARE SHARED WITH THE INDUSTRY. THE ACCELERATORS PROGRAM IS FUNDED BY THE META JOURNALISM PROJECT.
ACCELERATE LOCAL, BORRELL MIAMI, DIGITAL CLUB, DIGITAL INNOVATION CONTEST, DIGITAL SUMMIT, LMIA, LOCAL NEWS RESOURCE CENTER, META VIDEO ACCELERATOR, NEWSLETTER/WEBSITE, WORD IN BLACK
THE BRANDED CONTENT PROJECT, A PARTNERSHIP BETWEEN LOCAL MEDIA ASSOCIATION AND THE LOCAL MEDIA CONSORTIUM WAS FUNDED BY MULTIPLE INVESTMENTS FROM THE META JOURNALISM PROJECT AND COMMENCED IN MARCH 2019. IT HAS SINCE LED MULTIPLE COHORTS OF ADVERTISING LEADERS FROM LARGE AND SMALL LOCAL MEDIA OUTLETS TO LEARN TOOLS AND METHODS FOR BRANDED/SPONSORED CONTENT DEVELOPMENT AND REVENUE SUCCESS. THE PROJECT NOW OFFERS PRE-BUILT, TOPIC-BASED BRANDED CONTENT MODULES THAT MEDIA OUTLETS CAN USE AS STARTER KITS FOR LOCAL CLIENTS.
THE TECHNOLOGY RESOURCE CENTER ASSISTS MEDIA ORGANIZATIONS OF ALL TYPES AND SIZES WITH STRATEGIES AND CONSULTING AIMED AT IMPROVING SELECTION, IMPLEMENTATION, OPTIMIZATION AND LONG- TERM SUCCESS OF ENABLING TECHNOLOGIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amber Aldrich Director | Trustee | 1 | $0 |
Catherine Badalamente Chairman | OfficerTrustee | 3 | $0 |
Chris Weatherly Director | Trustee | 1 | $0 |
Deanna Fox Director | Trustee | 1 | $0 |
Eric Barnes Director | Trustee | 1 | $0 |
Janis Ware Second Vice Chairman | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $222,084 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $222,084 |
| Total Program Service Revenue | $3,928,769 |
| Investment income | $43,579 |
| 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 | $4,247,970 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,668,330 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $1,220,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $355,787 |
| Compensation of current officers, directors, key employees. | $355,787 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $534,531 |
| Pension plan accruals and contributions | $29,314 |
| Other employee benefits | $76,381 |
| Payroll taxes | $56,448 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,999 |
| Fees for services: Accounting | $7,980 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $94,280 |
| Advertising and promotion | $677 |
| Office expenses | $22,806 |
| Information technology | $50,368 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $33,233 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $41,739 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,267 |
| Insurance | $15,401 |
| All other expenses | $12,254 |
| Total functional expenses | $4,463,902 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,112,387 |
| Savings and temporary cash investments | $1,558,600 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $663,917 |
| 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 | $12,476 |
| Net Land, buildings, and equipment | $3,032 |
| Investments—publicly traded securities | $103,500 |
| Investments—other securities | $1,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $70,644 |
| Total assets | $3,525,556 |
| Accounts payable and accrued expenses | $60,175 |
| Grants payable | $0 |
| Deferred revenue | $1,465,982 |
| 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 | $6,657 |
| Total liabilities | $1,532,814 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $1,992,742 |
| Total liabilities and net assets/fund balances | $3,525,556 |
Grants Awarded
Over the last fiscal year, Local Media Association has awarded $1,653,330 in support to 41 organizations.
| Grant Recipient | Amount |
|---|---|
AMNEWS CORP PURPOSE: READER REVENUE INITIATIVE | $66,666 |
BLOCK CLUB CHICAGO PURPOSE: READER REVENUE INITIATIVE | $50,000 |
CANOPY ATLANTA PURPOSE: READER REVENUE INITIATIVE | $50,000 |
CAPITAL JOURNAL PURPOSE: READER REVENUE INITIATIVE | $50,000 |
CARDINAL NEWS PURPOSE: READER REVENUE INITIATIVE | $50,000 |
CHARLOTTESVILLE TOMORROW PURPOSE: READER REVENUE INITIATIVE | $50,000 |