Overview
What is The Lenfest Institute For Journalism Special Asset Fund Of Tpf?
The Lenfest Institute for Journalism Special Asset Fund of TPF is a nonprofit entity that supports both the digital transformation of heritage news organizations and the entrepreneurial efforts of innovative companies. Based in Philadelphia, Pennsylvania, it believes that sustainable journalism in the digital age requires new business models, powerful innovations, and growing, diverse audiences. The institute's primary focus includes the Philadelphia Inquirer, the largest newspaper in America operated as a public-benefit corporation, and fostering a collaborative news ecosystem in the Philadelphia area. It also manages programs like Spotlight PA, which provides non-partisan investigative reporting, and National Solutions for Local News, which facilitates capacity building for local publishers. The Lenfest Institute's mission is to receive, manage, and distribute assets to support the Philadelphia Foundation by enabling quality local journalism.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 97%, Four-Star out of Four Star rating.
The Lenfest Institute For Journalism Special Asset Fund Of Tpf has achieved an impressive rating of 97%, reflecting its strong performance in accountability and finance. This score is a testament to the organization's commitment to transparency and financial health, backed by a fully independent board and robust financial oversight mechanisms. With no noted material diversion of assets and a thorough conflict of interest policy, the institute demonstrates a high level of ethical governance.
The organization excels in its program expenses, with a program expense ratio of 90.55%, indicating that a significant portion of its funding directly supports its mission. Additionally, its fundraising efficiency is commendable, with only $0.05 spent to raise each dollar, highlighting effective resource management. The long working capital ratio of 4.47 years suggests a solid financial foundation, allowing the organization to sustain its operations effectively over time.
While the ratings reflect a strong organizational structure and financial prudence, potential donors and stakeholders should consider the organization's specific impact and outcomes in the journalism field. Overall, the Lenfest Institute For Journalism Special Asset Fund appears to be a well-managed nonprofit with a clear commitment to serving its mission effectively.
This AI summary has been generated from information found on Charity Navigator.
Is The Lenfest Institute For Journalism Special Asset Fund Of Tpf legitimate?
The Lenfest Institute For Journalism Special Asset Fund Of Tpf is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Lenfest Institute For Journalism Special Asset Fund Of Tpf submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,369,833
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,232,467
For more financial information, click here
What is the mission statement of The Lenfest Institute For Journalism Special Asset Fund Of Tpf?
The Lenfest Institute for Journalism Special Asset Fund of TPF aims to support the Philadelphia Foundation by enabling quality journalism that serves communities. The Institute is a non-profit entity that believes in new business models, powerful innovations, and growing, diverse audiences to achieve sustainability in journalism during the digital age. Through its LLC, the Institute supports the digital transformation of heritage news organizations and the entrepreneurial efforts of young, innovative companies. The Institute's mission is to produce high-impact journalism, innovate news technology, and lead to highly engaged, diverse, and growing audiences. The organization's activities include the ownership of the Philadelphia Inquirer, facilitating a collaborative news and information ecosystem, creating nonpartisan investigative reporting, and providing capacity building for local news publishers.
Who is the CEO of The Lenfest Institute For Journalism Special Asset Fund Of Tpf?
Pedro A Ramos is the Chief Executive Officer - Llc of The Lenfest Institute For Journalism Special Asset Fund Of Tpf. The CEO's salary of The Lenfest Institute For Journalism Special Asset Fund Of Tpf is $0 and their total compensation is $473,159.
What is the revenue of The Lenfest Institute For Journalism Special Asset Fund Of Tpf?
The Lenfest Institute For Journalism Special Asset Fund Of Tpf's revenue in 2022 was $41,516,736.
Who are the executives of The Lenfest Institute For Journalism Special Asset Fund Of Tpf and what are their salaries?
The average compensation at The Lenfest Institute For Journalism Special Asset Fund Of Tpf during 2022 was $118,286. There are 22 employees and 32 volunteers at The Lenfest Institute For Journalism Special Asset Fund Of Tpf.
Here are 41 key members and their salaries (The Lenfest Institute For Journalism Special Asset Fund Of Tpf's CEO's salary is $0 and their total compensation is $473,159):
- Compensation: $441,864
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- Other: $65,036
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- Compensation: $0
- Related: $203,645
- Other: $52,566
- Compensation: $173,707
- Related: $0
- Other: $23,743
- Compensation: $146,881
- Related: $0
- Other: $25,233
- Compensation: $140,192
- Related: $0
- Other: $14,092
- Compensation: $107,682
- Related: $0
- Other: $29,113
- Compensation: $119,218
- Related: $0
- Other: $11,900
- Compensation: $115,210
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- Other: $8,135
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Where can I find the form 990 for The Lenfest Institute For Journalism Special Asset Fund Of Tpf?
The Lenfest Institute For Journalism Special Asset Fund Of Tpf's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Lenfest Institute For Journalism Special Asset Fund Of Tpf
The Lenfest Institute for Journalism Special Asset Fund of TPF is a mission-driven organization dedicated to strengthening local journalism by supporting The Philadelphia Foundation. By enabling high-quality journalism that serves its communities, the Institute aims to create a clear focus under its program objectives.
To accomplish this, the Institute has established three core categories: National, Philadelphia, and The Inquirer. The Inquirer, the largest newspaper in America operated as a public-benefit corporation, is the Institute's nonprofit, non-controlling owner. This investment in local news is the cornerstone of the Institute's commitment to community journalism.
In the Philadelphia area, the Institute fosters a collaborative news and information ecosystem. By facilitating valuable history, entrepreneurial vision, and innovation, the Institute is working to define different paths to sustainability for publishers. Diversity and representation are critical components of positive business outcomes. The Institute is also committed to ensuring a diversity of representative voices and leadership in both legacy and independent media, reflecting the communities they serve.
Additionally, the Lenfest Institute manages programs such as Spotlight PA, which creates high-quality nonpartisan investigative and accountability reporting for the benefit of all Pennsylvanians. The Institute serves as the steward of both the Inquirer and Spotlight PA, blazing a unique path by supporting legacy publishers and digital start-ups as they aim to fill gaps and serve new and underrepresented audiences. The Knight-Lenfest Transformation Fund is a five-year effort designed to accelerate innovation in local news organizations across the United States. By leveraging its institutional expertise and resources, the Institute facilitates capacity building for local news publishers through training programs and grantmaking to support the implementation of business model best practices. The Institute also engages in convening, advisory work, learning seminars, research, and other outreach in support of local journalism.
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Impact
October, 2024
The Lenfest Institute for Journalism Special Asset Fund of TPF significantly impacts the landscape of local journalism by fostering quality civic journalism and supporting innovative business models that ensure sustainability in the digital age. It serves as a catalyst for enhancing the Philadelphia news ecosystem, allowing diverse and engaging voices to be heard throughout the community.
By owning a stake in the Philadelphia Inquirer, the largest newspaper in the U.S. operated as a public-benefit corporation, the Institute plays an essential role in local media, contributing to its transformation and innovation. This ownership enables a focus on high-impact journalism that aligns with the needs of a richly diverse metropolitan area.
Spotlight PA, another key initiative, highlights the Institute's commitment to accountability journalism, providing free, nonpartisan investigative reporting to numerous newspapers and media outlets across Pennsylvania. This initiative not only amplifies essential information for citizens but also strengthens collaboration among various media organizations.
Furthermore, the Knight-Lenfest Transformation Fund exemplifies the Institute's proactive approach towards building a sustainable future for local news, offering grants and training programs that empower news publishers to adopt best practices and innovative strategies. This holistic engagement with both heritage organizations and emerging digital startups cultivates a collaborative environment aimed at addressing the evolving demands of local audiences.
Through strategic investments and a focus on diversity and representation, The Lenfest Institute for Journalism Special Asset Fund is redefining local journalism, ensuring it remains vibrant, relevant, and capable of serving the communities it encompasses.
This information is meant to be a general summary of The Lenfest Institute For Journalism Special Asset Fund Of Tpf. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,678,832
- Gross Receipts: $58,468,199
Assets and Liabilities:
- Total Assets: $107,280,135
- Total Liabilities: $4,625,558
- Net Assets: $102,654,577
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Organization Details
Founding Year
2002
Phone
(215) 563-6417Principal Officer
Pedro A Ramos
Main Address
1835 MARKET STREET 2410, PHILADELPHIA, PA, 19103
NTEE Category
Code: T12 - Philanthropy
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