Totals
- Total revenue
- $699,365
- Total expenses
- $642,959
- Contributions and grants received
- $696,702
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $2,663
- Other revenue
- $0
- Total assets, end of year
- $594,046
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $594,046
- Program services expenses (Part IX)
- $471,668
- Management and general expenses
- $65,758
- Fundraising expenses
- $105,533
- Program service expenses (Part III)
- $471,668
Program services were 73.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$696,702
-
3 · Investment income
total $2,663 · excluded $2,663
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $301,532 · program services $220,118 · management and general $33,169 · fundraising $48,245
-
9 · Other employee benefits
total $34,646 · program services $25,292 · management and general $3,811 · fundraising $5,543
-
10 · Payroll taxes
total $23,067 · program services $16,839 · management and general $2,537 · fundraising $3,691
-
11g · Fees: other
total $96,805 · program services $90,394 · management and general $5,953 · fundraising $458
-
12 · Advertising and promotion
total $12,722 · program services $11,450 · management and general $636 · fundraising $636
-
13 · Office expenses
total $14,675 · program services $10,273 · management and general $2,201 · fundraising $2,201
-
16 · Occupancy
total $13,202 · program services $9,242 · management and general $1,980 · fundraising $1,980
-
17 · Travel
total $12,524 · program services $6,261 · management and general $5,011 · fundraising $1,252
-
22 · Depreciation, depletion and amortization
total $26,000 · program services $26,000
-
23 · Insurance
total $7,440 · management and general $7,440
-
24a · Other expenses: EVENTS - MS TOP 50
total $63,274 · program services $31,637 · fundraising $31,637
-
24b · Other expenses: TECHNOLOGY
total $30,202 · program services $24,162 · management and general $3,020 · fundraising $3,020
-
24c · Other expenses: DEVELOPMENT
total $6,870 · fundraising $6,870
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $443,390 · end of year $525,796
-
15 · Other assets
beginning of year $94,250 · end of year $68,250
-
27 · Net assets without donor restrictions
beginning of year $537,640 · end of year $594,046
Mission and programs · 2024
Mission
WE ARE DEDICATED TO THE MISSION OF SUPPLYING CITIZENS WITH RELEVANT, TIMELY, AND TRUSTWORTHY INFORMATION ON THE ISSUES THAT IMPACT THEIR LIVES.
Activities or mission (Part I)
THE INSTITUTE IS A NON-PROFIT NEWSROOM DEDICATED TO THE MISSION OF EDUCATING THE PUBLIC ON ISSUES THAT MATTER THE MOST TO THEIR LIVES, CONDUCTING IN-DEPTH INVESTIGATIVE REPORTING, AND TRAINING THE NEXT GENERATION OF JOURNALISTS. AS PART OF THIS MISSION, MAGNOLIA TRIBUNE INSTITUE WILL MAKE ANY CONTENT PRODUCED BY IT FREE TO THE GENERAL PUBLIC AND WILL ALLOW ANY OTHER NEWS OUTLET TO REPRODUCE THE CONTENT WITH ATTRIBUTION AT NO COST.
-
THE INSTITUTE'S PRIMARY PROGRAM SERVICE IS THE OPERATION OF A NON-PROFIT DIGITAL ONLY NEWSROOM THAT PROVIDES DAILY NEWS, A DIVERSITY OF PERSPECTIVES ON IMPORTANT ISSUES, BUSINESS COVERAGE, AND CULTURAL COVERAGE OF ARTS AND ENTERTAINMENT. THE INSTITUTE PUBLISHES NEW ORIGINAL CONTENT 6 DAYS A WEEK AND DISTRIBUTES THAT CONTENT THROUGH ITS OWN NEWS SITE, A DAILY NEWSLETTER, SOCIAL MEDIA, AND THROUGH REPUBLICATION IN OTHER NEWS OUTLETS. TO EXECUTE ON ITS MISSION, THE INSTITUTE EMPLOYS BOTH FULL-TIME REPORTERS, AS WELL AS A STABLE OF INDEPENDENT CONTRACT WRITERS. ALL CONTENT PRODUCED BY THE INSTITUTE IS MADE AVAILABLE TO THE GENERAL PUBLIC AND TO OTHER NEWS PUBLICATIONS WHO WISH TO REPUBLISH FREE OF CHARGE.
Expenses $471,668
As filed on the 2024 return.
Listed in Part VII
-
Russell LatinoRUSSELL LATINO
CEO/SECRETARY
- Total calculated
- $166,957
- From this org
- $166,957
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $166,957
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $166,957
-
Spencer RitchieSPENCER RITCHIE
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 1
-
Lucien SmithLUCIEN SMITH
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Spence FlatgardSPENCE FLATGARD
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 3
- THE BOARD, IN THE ABSENCE OF THE CEO, REVIEWS 990S FROM SIMILIAR ORGANIZATIONS IN THE MEDIA AND THINKTANK SPACE FROM MISSISSIPPI AND SURROUNDING STATES TO DETERMINE THE CEO'S COMPENSATION.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 14 May 2026
- IRS schema version
- 2024v5.5
- Source object
- 202611359349301746
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