The Venetoulis Institute For Local Journalism

Organization Overview

The Venetoulis Institute For Local Journalism, operating under the name The Baltimore Banner, is located in Baltimore, MD. 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, Baltimore Banner employed 108 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Baltimore Banner 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, Baltimore Banner generated $17.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (15.1%) each year. All expenses for the organization totaled $17.3m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

OUR MISSION IS TO BE AN INDISPENSABLE RESOURCE THAT STRENGTHENS, UNITES, AND INSPIRES OUR BALTIMORE COMMUNITY. WE WILL ACCOMPLISH THIS THROUGH TRUSTWORTHY, QUALITY JOURNALISM THAT TELLS THE VARIED STORIES OF OUR PEOPLE, HOLDS OUR LEADERS ACCOUNTABLE, AND DELIVERS LOCAL NEWS THAT READERS ARE WILLING TO SUPPORT.

Describe the Organization's Program Activity:

Part 3 - Line 4a

IN 2022, THE VENETOULIS INSTITUTE LAUNCHED THE BALTIMORE BANNER, OUR FLAGSHIP DIGITAL NEWS PRODUCT. IN PREPARATION FOR THIS LAUNCH, EXPENSES CENTERED ON GROWING HEADCOUNT IN OUR NEWSROOM, PRODUCT, AND BUSINESS FUNCTIONS TO ENSURE APPROPRIATE SCALE AND INFRASTRUCTURE TO SUPPORT OUR ORGANIZATION. THIS INCLUDED THE ADDITIONS OF REPORTERS AND EDITORS TO OUR NEWSROOM, AND DATA, FINANCE, PRODUCT, AND MARKETING STAFF TO OUR NON-NEWSROOM FUNCTIONS, RESULTING IN A 2022 YEAR-END HEADCOUNT OF 89. ADDITIONALLY, VLIJ INVESTED $622K IN CAPEX TO SUPPORT TECHNOLOGY INFRASTRUCTURE, GIVING US THE OPPORTUNITY TO IMPROVE USER EXPERIENCE AND INCREASE DATA-DRIVEN DECISION MAKING WITHIN THE ORGANIZATION. INVESTMENTS IN THE BALTIMORE BANNER APP AND WEBSITE INFRASTRUCTURE ENSURE THAT OUR NEWS COVERAGE CAN BE EASILY ACCESSED BY OUR AUDIENCES AND PROVIDE A POSITIVE USER EXPERIENCE THAT BUILDS THE FOUNDATION FOR SUBSCRIBER GROWTH. ADDITIONALLY, ENHANCED DATA INFRASTRUCTURE ENABLES US TO UNDERSTAND THE PREFERENCES AND BEHAVIORS OF OUR READERS, ENABLING US TO MAKE DATA-DRIVEN DECISIONS REGARDING CONTENT AND PRIORITIZE INVESTMENTS WITHIN OUR ORGANIZATION.IN ADDITION TO THE GROWTH OF VILJ STAFF, INVESTMENTS IN FREELANCE, CONTRACT, AND CONSULTING SUPPORT ENABLED US TO LAUNCH AND BUILD OUR ORGANIZATION. BY ENGAGING FREELANCE JOURNALISTS, WE EXPANDED WRITTEN AND PHOTO COVERAGE IN THE COMMUNITIES WE SERVE AS WE WORKED TO GROW OUR PERMANENT NEWSROOM PRESENCE. ADDITIONALLY, WE UTILIZED CONTRACTORS AND CONSULTANTS TO PROVIDE EXPERTISE AND SUPPORT FOR OUR IT, PRODUCT, FINANCE, ANALYTICS AND ENGINEERING FUNCTIONS. SINCE THE 2022 LAUNCH OF THE THE BALTIMORE BANNER AS A NONPROFIT, INDEPENDENT LOCAL NEWS SITE, WE CONTINUE TO STRIVE TO BECOME AN INTEGRAL AND VITAL PART OF THE COMMUNITIES THAT WE SERVE ACROSS BALTIMORE AND MARYLAND. AS ONE OF THE LARGEST AND MOST DIVERSE NEWSROOMS IN THE STATE, OUR TEAM OF JOURNALISTS WORKS TIRELESSLY TO COVER THE IMPORTANT ISSUES THAT MOST DIRECTLY IMPACT NEIGHBORHOODS ACROSS OUR CITY AND STATE TO HELP STRENGTHEN, UNITE AND INSPIRE OUR COMMUNITIES; INVESTMENTS IN OUR STAFF, INFRASTRUCTURE, AND FREELANCE AND CONTRACTORS HAVE HELPED TO ENABLE THESE EFFORTS.


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Board, Officers & Key Employees

Name (title)Compensation
Brian Mcgrory
Director
$0
Christine A Shreve
Corporate Treasurer
$0
Imtiaz Patel
President
$625,000
Janet Currie
Director
$0
Jedd Gould
Director
$0
Josh Tyrangiel
Director
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
National Tr For Local News Inc
Business Consulting
$195,000
Iq Workforce
Executive Search Services
$278,350
West Monroe Partners Llc
Business Consulting
$128,125
Realty Investment Co
Accounting/tax Services
$145,391
Russell Reynolds Assoc Inc
Executive Search Services
$114,000
View All Vendors

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$16,526,520
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$16,526,520
Total Program Service Revenue$764,319
Investment income $140,186
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 $17,431,025

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$17,431,025
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Committee For A Constructive Tomorrow
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American Evaluation Association
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National Press Foundation Inc
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