Ipswich Local News Inc
- Assets
- $182.2k
- Revenue
- $425.0k
- Investments
- $0.0
- Employees
- 10
- Location
- Ipswich, MA
- Founding
- Data as of
- 12/2021
- EIN
- 84-3780597
Organization Overview
Ipswich Local News Inc is located in Ipswich, MA. According to its NTEE Classification (A33) the organization is classified as: Printing & Publishing, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Ipswich Local News Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ipswich Local News Inc 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 12/2021, Ipswich Local News Inc generated $425.0k in total revenue. All expenses for the organization totaled $299.5k during the year ending 12/2021. While expenses have increased by 289.9% per year over the past 3 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE IPSWICH LOCAL NEWS IS A LOCAL NEWSPAPER PUBLICATION. THE ORGANIZATION'S MISSION IS TO PROVIDE ACCURATE AND FAIR COVERAGE OF THE LOCAL NEWS OF IPSWICH, MA AND SURROUNDING COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE A PRINT AND ONLINE PUBLICATION OF A LOCAL NEWSPAPER TO THE TOWN OF IPSWICH, AS WELL AS REPORT ON NEWS OF INTEREST FROM SURROUNDING COMMUNITIES. THE PAPER IS MAILED FREE TO RESIDENTS, REACHING 6,600 HOUSEHOLDS IN A COMMUNITY OF 14,000 PEOPLE. IN ADDITION TO THE WEEKLY EDITION, AN ONLINE VERSION OF THE PAPER INCLUDES 158,000 PAGE VIEWS PER MONTH, UP 20,000 VIEWS COMPARED TO LAST YEAR.THE PAPER HAS INCREASED ITS LEVEL OF READER ENGAGEMENT BASED ON LETTERS TO THE EDITOR, EMAILS TO NEWSPAPER STAFF, AND DISCUSSION AT NUMEROUS COMMUNITY EVENTS. IT HAS BECOME THE GO-TO SOURCE FOR LOCAL IPSWICH NEWS. THE PAPER HAS SEEN STRONG SUPPORT FROM THE COMMUNITY IN THE SEMI-ANNUAL FUNDRAISING DRIVE, AND THE MANY HANDWRITTEN NOTES OF THANKS ON THE IMPORTANCE OF LOCAL NEWS AND THE SERVICE WE PROVIDE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Muldoon President & Director | OfficerTrustee | 50 | $47,700 |
William Craft Treasurer & Director | OfficerTrustee | 2 | $0 |
Mary Buckley-Harmon Secretary, Clerk & Directo | OfficerTrustee | 2 | $0 |
Tracy Filosa Chairperson & Director | OfficerTrustee | 2 | $0 |
Richard Howard Director | Trustee | 2 | $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 | $181,324 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $181,324 |
| Total Program Service Revenue | $242,447 |
| Investment income | $288 |
| 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 | $424,985 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $45,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $132,579 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $15,541 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,295 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,000 |
| Advertising and promotion | $0 |
| Office expenses | $1,786 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,002 |
| All other expenses | $1,549 |
| Total functional expenses | $299,518 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $114,804 |
| Savings and temporary cash investments | $67,427 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $182,231 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $1,612 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,612 |
| Net assets without donor restrictions | $180,619 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $182,231 |