Form 990 for tax year 2023

Totals

Total revenue

$31,951,841

Total expenses

$21,808,175

Contributions and grants received

$29,834,389

Grants paid

$13,810,448

Program service revenue

$0

Investment income

$2,059,008

Other revenue

$58,444

Total assets, end of year

$124,527,937

Total liabilities, end of year

$3,788,099

Net assets or fund balances, end of year

$120,739,838

Program services expenses (Part IX)

$19,195,824

Management and general expenses

$1,203,413

Fundraising expenses

$1,408,938

Program service expenses (Part III)

$19,195,824

Program services were 88.0% 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.

Mission and programs · 2023

• THE LENFEST INSTITUTE FOR JOURNALISM, LLC (LLC):THE LLC IS A DISREGARDED ENTITY OF THE INSTITUTE THAT SUPPORTS BOTH THE DIGITAL TRANSFORMATION OF HERITAGE NEWS ORGANIZATIONS AND THE ENTREPRENEURIAL EFFORTS OF YOUNG, INNOVATIVE COMPANIES. THE INSTITUTE BELIEVES THAT QUALITY CIVIC JOURNALISM REQUIRES NEW BUSINESS MODELS, POWERFUL INNOVATIONS AND GROWING, DIVERSE AUDIENCES TO ACHIEVE SUSTAINABILITY IN THE DIGITAL AGE. IT FUNDS PROGRAMS THAT PRODUCE HIGH-IMPACT JOURNALISM, INNOVATIVE NEWS TECHNOLOGY, AND THAT HELP LOCAL NEWS ORGANIZATIONS REACH NEW AUDIENCES AND DEVELOP SUSTAINABLE DIGITAL BUSINESS MODELS.(CONTINUED ON SCHEDULE O.)TO ACCOMPLISH THE ORGANIZATION'S EXEMPT PURPOSE, AND CREATE CLARITY OF FOCUS UNDERNEATH THE OVERARCHING PROGRAM OBJECTIVES, THREE CORE CATEGORIES HAVE BEEN DEVELOPED: NATIONAL, PHILADELPHIA, AND THE INQUIRER. THE FOLLOWING SPECIFIC PROGRAMMATIC ACTIVITIES AND ACCOMPLISHMENTS ALL SERVE THE OVERARCHING PROGRAMMATIC OBJECTIVES TO SUPPORT PROGRAMS THAT PRODUCE HIGH-IMPACT JOURNALISM, INNOVATE NEWS TECHNOLOGY, AND LEAD TO HIGHLY ENGAGED, DIVERSE AND GROWING AUDIENCES.THE PHILADELPHIA INQUIRER:THE LENFEST INSTITUTE IS THE NONPROFIT, NON-CONTROLLING OWNER OF THE PHILADELPHIA INQUIRER, WHICH IS NOW THE LARGEST NEWSPAPER IN AMERICA OPERATED AS A PUBLIC-BENEFIT CORPORATION. THE INSTITUTE'S OWNERSHIP OF THE INQUIRER, WHICH COVERS ONE OF THE LARGEST, MOST DIVERSE METRO REGIONS IN THE COUNTRY, IS THE CORNERSTONE OF ITS ENTHUSIASTIC INVESTMENT IN LOCAL NEWS.THE PHILADELPHIA NEWS ECOSYSTEM:IN THE PHILADELPHIA AREA, THE INSTITUTE FACILITATES A COLLABORATIVE NEWS AND INFORMATION ECOSYSTEM THAT BUILDS ON VALUABLE HISTORY WHILE ALSO FOSTERING ENTREPRENEURIAL VISION AND INNOVATION. DIVERSITY AND REPRESENTATION ARE CRITICAL COMPONENTS OF POSITIVE BUSINESS OUTCOMES. THE INSTITUTE IS WORKING TO DEFINE DIFFERENT PATHWAYS TO SUSTAINABILITY FOR PUBLISHERS WHILE ALSO ENSURING A DIVERSITY OF REPRESENTATIVE VOICES AND LEADERSHIP IN BOTH LEGACY AND INDEPENDENT MEDIA REFLECTIVE OF THE COMMUNITIES THEY ARE SERVING. SPOTLIGHT PA:SPOTLIGHT PA, THE HARRISBURG NEWSROOM LAUNCHED BY THE LENFEST INSTITUTE AND THE PHILADELPHIA INQUIRER, CREATES HIGH-QUALITY NONPARTISAN INVESTIGATIVE AND ACCOUNTABILITY REPORTING FOR THE BENEFIT OF ALL PENNSYLVANIANS. IT PROVIDES ITS REPORTING FREE-OF-CHARGE TO MORE THAN 80 OTHER NEWSPAPERS, PUBLIC RADIO STATIONS, AND WEBSITES THROUGHOUT THE COMMONWEALTH. AS THE STEWARD OF BOTH THE INQUIRER AND SPOTLIGHT PA, THE INSTITUTE IS BLAZING A UNIQUE PATH BY SERVING LEGACY PUBLISHERS AND DIGITAL START-UPS AS THEY AIM TO FILL GAPS AND SERVE NEW AND UNDERREPRESENTED AUDIENCES. NATIONAL SOLUTIONS FOR LOCAL NEWS:NATIONALLY, THE INSTITUTE LEVERAGES ITS INSTITUTIONAL EXPERTISE AND RESOURCES TO FACILITATE CAPACITY BUILDING FOR LOCAL NEWS PUBLISHERS THROUGH TRAINING PROGRAMS AND GRANTMAKING TO SUPPORT THE IMPLEMENTATION OF BUSINESS MODEL BEST PRACTICES. KNIGHT-LENFEST TRANSFORMATION FUND:THE KNIGHT-LENFEST TRANSFORMATION FUND IS A FIVE-YEAR EFFORT DESIGNED TO ACCELERATE INNOVATION IN LOCAL NEWS ORGANIZATIONS IN PHILADELPHIA AND ACROSS THE UNITED STATES. THE FUND WAS CREATED BY THE JOHN S. AND JAMES L. KNIGHT FOUNDATION AND THE INSTITUTE TO HELP BUILD A SUSTAINABLE, EQUITABLE FUTURE FOR LOCAL NEWS.OTHER PROGRAM ACTIVITIES:THE INSTITUTE SUPPORTS BOTH THE DIGITAL TRANSFORMATION OF HERITAGE NEWS ORGANIZATIONS AND THE ENTREPRENEURIAL EFFORTS OF YOUNG, INNOVATIVE COMPANIES. OTHER PROGRAM ACTIVITIES INCLUDE CONVENING, ADVISORY WORK, LEARNINGS SEMINARS, RESEARCH AND OTHER OUTREACH IN SUPPORT OF LOCAL JOURNALISM.

  Expenses $19,195,824 · Grants $13,810,448

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

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

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

• PHILADELPHIA INQUIRER PBC

  $7,529,895

  THE INSTITUTE IS SUPPORTING THE INQUIRERS TRANSITION FROM A TRADITIONAL PRINTED NEWSPAPER TO AN ECONOMICALLY SUSTAINABLE, PRIMARILY DIGITAL, EQUITABLE NEWS ENTERPRISE. A SERIES OF GRANTS WERE MADE TO THE INQUIRER TO FUND (A) HIGH IMPACT JOURNALISM, INCLUDING WORK BY ITS INVESTIGATIVE TEAM, SPOTLIGHT PA AND HEALTH COVERAGE AND (B) NEWS TECHNOLOGY AND PRODUCT IMPROVEMENTS, INCLUDING A GRANT FOR DIGITAL TRANSFORMATION ACCELERATION, BRAND DEVELOPMENT, TECHNOLOGY FOR AUDIENCE GROWTH, DIGITAL SUBSCRIPTION PROCESS IMPROVEMENTS, AND OTHER TECHNOLOGY SUPPORT.

• SPOTLIGHT PA

  $2,866,862

  (S) = $2,866,861.54

• RESOLVE PHILADELPHIA INC

  $311,500

  (O) = $211,500, (P) = $100,000

• WURD RADIO LLC

  $280,000

  (C) = $150,000, (X) = $105,000, (Y) = $25,000

• FUNTIMES MAGAZINE LLC

  $219,000

  (I) = $119,000, (C) = $100,000

• CIVIC CAPITAL CONSULTING

  $171,650

  (C) = $100,000, (D) = $3,000, (H) = $38,650, (F) = $25,000, (G) = $5,000

• PHILADELPHIA TRIBUNE CO

  $167,000

  (C) = $150,000, (N) = $17,000

• SCHNEPS PHILLY

  $150,000

  (C) = $150,000

• TECHNICALLY MEDIA INC

  $150,000

  (C) = $150,000

• TRACE MEDIA INC

  $150,000

  (C) = $150,000

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

• THE PHILADELPHIA FOUNDATION

  501(C)(3) · GRANTMAKING · PA

• THE HARRY R HALLORAN JR CHARITABLE TRUST

  501(C)(3) · GRANTMAKING · PA

  Directly controlled by THE PHILADELPHIA FOUNDATION

• THE VISIONS FUND OF THE PHILADELPHIA FOUNDATION

  501(C)(3) · SUPPORT THE PHILADELPHIA FOUNDATION · DE

  Directly controlled by THE PHILADELPHIA FOUNDATION

• THE DR RUDOLPH MASCIANTONIO FOUNDATION FOR CLASSICAL STUDIES

  501(C)(3) · SUPPORT THE PHILADELPHIA FOUNDATION · PA

  Directly controlled by THE PHILADELPHIA FOUNDATION

• TPF SPECIAL PROPERTY FUND

  501(C)(3) · SUPPORT THE PHILADELPHIA FOUNDATION · PA

  Directly controlled by THE PHILADELPHIA FOUNDATION

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Provenance

Return type

form_990

Tax year

2023

Filed

12 November 2024

IRS schema version

2023v5.1

Source object

202413189349308136

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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