Poynter's 2016 Tax Return Shows Second Consecutive Year of Annual Surplus

11/10/17 04:00 PM EST

Poynter's 2016 Tax Return Shows Second Consecutive Year of Annual Surplus

PR Newswire

ST. PETERSBURG, Fla., Nov. 10, 2017 /PRNewswire-USNewswire/ -- The Poynter Institute, a global leader in journalism, reported an annual surplus of $627,000 in 2016, continuing its trend of continuous financial improvement.

The Poynter Institute for Media Studies. (PRNewsFoto/The Poynter Institute)

Cash and publicly traded investments increased by nearly 25 percent due in large part to grants and gifts received for multi-year programs. These significant contributions to Poynter demonstrate growing confidence and commitment by funders in support of the Institute's work.

The multi-year projects include grants from the John S. and James L. Knight Foundation to modernize the Institute's online learning platform, News University, and to accelerate digital transformation in local news through the Local News Innovation project. The Newmark Philanthropies endowed the Newmark Chair for Journalism Ethics at the Institute, and Poynter will host its inaugural Journalism Ethics Summit on Dec. 4 in Washington, D.C. A grant from the Robert R. McCormick Foundation funded specialized reporting institutes aimed at ensuring that citizens benefit from the best reporting on key issues. And Poynter expanded the work of its International Fact-Checking Network through significant support from the Omidyar Network and the National Endowment for Democracy.

Overall, the Institute's finances were bolstered in 2016 by a 58 percent increase in contributions and grants revenue. This includes proceeds from Poynter's annual fundraising gala, the Bowtie Ball. In 2016, Poynter honored NBC News legend Tom Brokaw with the Poynter Medal for Lifetime Achievement in Journalism.

The Institute reduced expenses in 2016 by 18.3 percent, while teaching 100,000 people from more than 100 countries and all 50 states.

Overall, Poynter ran at an operating loss of $520,000 in 2016. This is a 59 percent improvement on the 2015 results.

Poynter is on track for another annual surplus this year. The Institute anticipates that its 2017 tax return will show that the Institute has doubled operating revenues in 10 years.

"I applaud the hard work of the Poynter staff to get us to the point where we have begun to reinvest in the Institute," said Neil Brown, Poynter's newly appointed president. "That's a trend that we plan to continue heading into the new year."

"The media industry is vibrant but the environment is challenging in profound ways, from shifts in audience behavior to issues surrounding trust and credibility," Brown added. "Poynter will continue to respond by offering practical and relevant work to fortify journalism and strengthen democracy. Our brand of training has never been more important than it is now."

About The Poynter Institute
The Poynter Institute for Media Studies is a global leader in journalism education and a strategy center that stands for uncompromising excellence in journalism, media and 21st century public discourse. Poynter faculty teach seminars and workshops at the Institute in St. Petersburg, Florida, and at conferences and organizations around the world. Its e-learning division, News University, offers the world's largest online journalism curriculum in 7 languages, with 300 interactive courses and registered users in more than 200 countries. The Institute's website, www.poynter.org, produces 24-hour coverage of news about media, ethics, technology, the business of news and the trends that currently define and redefine journalism news reporting. The world's top journalists and media innovators come to Poynter to learn and teach new generations of journalists, and to build public awareness about journalism, media, the First Amendment and protected discourse that serves democracy and the public good.

Contact: Tina Dyakon
Director of Advertising and Marketing
The Poynter Institute

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SOURCE The Poynter Institute