The Venetoulis Institute for Local Journalism

Analysis

The Venetoulis Institute for Local Journalism is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in August 2021, 5 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Venetoulis Institute for Local Journalism reported income of $29.8m and spending of $29.7m, spending 99% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $24.2m to $29.8m (+23%), an average of +11% a year. The sharpest change came in the year to December 2023, when income rose by 71%. Over the whole period it spent 72% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Venetoulis Institute for Local Journalism sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within MD. Charities of a similar size with the same main cause include Florida Institute for Human and Machine Cognition ($29.8m), Perot Museum of Nature and Science ($29.9m) and Washington Drama Society Inc ($29.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 53% and program service revenue 47% of the total. Compensation of current officers, directors and key employees was $4.0m (13% of expenses). Other salaries and wages came to $8.4m. At year end it held assets of $25.5m against liabilities of $5.8m, net assets of $19.8m. It reported 115 employees.