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The Venetoulis Institute for Local Journalism
Also known as The Baltimore Banner
The Venetoulis Institute for Local Journalism reported $27.3 million in revenue and $28.8 million in expenses for calendar year 2024. Of every $100 it spent, $87.99 went to program services, $7.96 to management and general costs and $4.05 to fundraising. Its largest source of revenue was contributions and grants: 54.3% of the total. The highest compensation it reported for one person was $515,470 (EDITOR IN CHIEF). 47 people received more than $100,000 in reportable compensation. Revenue rose 13% between 2021 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $29MFor context, the median across 876 covered arts, culture & humanities charities: $79.98 programs, $13.89 management, $6.13 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $27MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 88.0% | 78.5% |
| Management & general Part IX 25(C) ÷ 25(A) | 8.0% | 13.6% |
| Fundraising Part IX 25(D) ÷ 25(A) | 4.0% | 6.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.08 | $0.10 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 54.3% | 57.5% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.7% |
| Program service revenue share Part VIII 2g ÷ 12 | 27.5% | 20.8% |
| Highest reported compensation Part VII-A, columns D–F | $515,470 | $385,706 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 1.79% | 2.03% |
| People paid over $100,000 Part VII, line 2 | 47 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 7.6 | 36.6 |
| Independent voting board members Part VI 1a–1b | 8 of 10 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseThe Venetoulis Institute is a nonprofit organization founded to bring high-quality local journalism to baltimore and maryland. In june 2022, we launched the baltimore banner to fulfill our mission. The banner is a multi-platform news operation covering a broad range of topics, from local and state government to business, sports, education, culture, and the arts. We seek to create a vibrant, trustworthy, and sustainable news organization that reinvents what local journalism can be
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| EDITOR IN CHIEF Officer, 40.00 hrs/week | $481,160 | $0 | $34,310 | $515,470 |
| CHIEF REVENUE OFFICER Key employee, 40.00 hrs/week | $434,461 | $0 | $38,575 | $473,036 |
| PRESIDENT, & CEO Director/trustee, officer, 40.00 hrs/week | $415,852 | $0 | $35,144 | $450,996 |
| CHIEF MARKETING OFFICER Key employee, 40.00 hrs/week | $398,986 | $0 | $44,752 | $443,738 |
| CHIEF TECHNOLOGY OFFICER Key employee, 40.00 hrs/week | $285,498 | $0 | $41,593 | $327,091 |
| TREASURER, SVP OF FINANCE & ANALYTICS Officer, 40.00 hrs/week | $281,330 | $0 | $22,000 | $303,330 |
| SVP OF PEOPLE, CULTURE, DIVERSITY Key employee, 40.00 hrs/week | $261,330 | $0 | $18,900 | $280,230 |
| MANAGING EDITOR Highest compensated employee, 40.00 hrs/week | $262,255 | $0 | $17,147 | $279,402 |
47 people received more than $100,000 in reportable compensation from The Venetoulis Institute for Local Journalism (Part VII, line 2). Compensation of current officers, directors and key employees totaled $4.3M (Part IX, line 5).
4 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b10 · 8 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13No
- Document retention policy Part VI 14No
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2Yes
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 5158
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| NTOOITIVE DIGITAL LLC Media | $2,328,274 |
| BOYLE SOFTWARE INC Technology | $487,808 |
| VENABLE LLP Legal services | $349,437 |
| FIRSTSOURCE GROUP USA INC Outsourced staffing | $345,552 |
| AGILE ENGINE LLC Technology | $326,640 |
Individuals listed as contractors are left out. 12 contractors were paid more than $100,000 in all.
Private foundation grants it received
6 private foundations reported grants to The Venetoulis Institute for Local Journalism totaling $299K on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from The Venetoulis Institute for Local Journalism's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for The Venetoulis Institute for Local Journalism, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 The Venetoulis Institute for Local Journalism spent in 2024, $87.99 went to programs. The full breakdown, from its IRS Form 990:
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- Charlotte Symphony Orchestra SocietyCharlotte, NC · revenue $27M · programs 80.7% · FY2025
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All arts, culture & humanities charities · Largest charities in Maryland
Questions people ask
How much of The Venetoulis Institute for Local Journalism's spending goes to programs?
In calendar year 2024, The Venetoulis Institute for Local Journalism reported that 88.0% of its $28.8 million in expenses went to program services, 8.0% to management and general and 4.0% to fundraising (Form 990, Part IX).
How much does The Venetoulis Institute for Local Journalism pay its top executive?
The largest total compensation The Venetoulis Institute for Local Journalism reported for one person in calendar year 2024 was $515,470, for the role of EDITOR IN CHIEF (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does The Venetoulis Institute for Local Journalism get its money?
Of $27.3 million in revenue in calendar year 2024, 54.3% came from contributions and grants and 27.5% from program service revenue (Form 990, Part VIII).
Is The Venetoulis Institute for Local Journalism a registered charity?
The IRS lists EIN 86-1715499 as a 501(c)(3) organization (publicly supported organization (509(a)(2))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202532939349301003 · read the filing · XML
- 2023: Form 990 for calendar year 2023 (amended), object 202530719349300913 · read the filing
- 2022: Form 990 for calendar year 2022, object 202323199349324287 · read the filing
- 2021: Form 990 for calendar year 2021, object 202243189349308734 · read the filing
All filings for EIN 86-1715499: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.