Skip to content
Nonprofiteer
← MAGNOLIA TRIBUNE INSTITUTE

Form 990 for tax year 2022

Filed by MAGNOLIA TRIBUNE INSTITUTE.

Totals

Total revenue
$686,601
Total expenses
$353,482
Contributions and grants received
$686,601
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$333,119
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$333,119
Program services expenses (Part IX)
$258,219
Management and general expenses
$42,373
Fundraising expenses
$52,890
Program service expenses (Part III)
$258,219

Program services were 73.1% 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

    $686,601

  • 1g · Noncash contributions included above

    $130,000

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $178,812 · program services $114,662 · management and general $36,650 · fundraising $27,500

  • 9 · Other employee benefits

    total $14,241 · program services $9,132 · management and general $2,919 · fundraising $2,190

  • 10 · Payroll taxes

    total $13,680 · program services $8,772 · management and general $2,804 · fundraising $2,104

  • 11g · Fees: other

    total $27,463 · program services $27,463

  • 12 · Advertising and promotion

    total $23,037 · program services $23,037

  • 13 · Office expenses

    total $5,781 · program services $5,085 · fundraising $696

  • 17 · Travel

    total $7,005 · fundraising $7,005

  • 22 · Depreciation, depletion and amortization

    total $9,750 · program services $9,750

  • 23 · Insurance

    total $2,374 · program services $2,374

  • 24a · Other expenses: EVENTS - MS TOP 50

    total $46,356 · program services $34,767 · fundraising $11,589

  • 24b · Other expenses: WEBSITE

    total $23,177 · program services $23,177

  • 24c · Other expenses: DEVELOPMENT

    total $1,806 · fundraising $1,806

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $212,869

  • 15 · Other assets

    beginning of year $0 · end of year $120,250

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0 · end of year $333,119

Mission and programs · 2022

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 $258,219

As filed on the 2022 return.

Listed in Part VII

  • Russell Latino

    CEO/SECRETARY

    Total calculated
    $11,000
    From this org
    $11,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Spencer Ritchie

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Lucien Smith

    TREASURER

    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.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
9 May 2024
IRS schema version
2022v5.0
Source object
202441349349300704

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

The source document this was parsed from is served over the API, which is where bulk and document access live.