Organization Profiles
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
Center for Investigative Reporting TYPE NATIONAL
LAUNCH 1977
TARGET MARKET NATIONAL
FULL-TIME EMPLOYEES 74
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013 Earned Revenue
4% 30%
$10.11
REVENUE
$10.53
EXPENSES
4%
Individual Donations /Membership
69% 7% 6%
2013
27%
32
87% 95%
2012 $12.13
REVENUE
66%
Foundation Funding & Other Grants
2010 2011 2012 2013
EXPENSES
$8.75
2011 REVENUE
$4.64
EXPENSES
$4.60
2010 $4.62
REVENUE
$3.45
EXPENSES
$ millions
6
3
9
12
15
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 21%
Social Media
2011 2013
IT/Tech 22%
Search 33%
Third-Party
2011 2013
General/Admin
Partnership 0%
2011 2013
29%
24%
Direct Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
1
2
3
4
5
6
7
8
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
Center for Public Integrity TYPE NATIONAL
LAUNCH 1989
TARGET MARKET NATIONAL
FULL-TIME EMPLOYEES 45
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013 7%
$7.84
REVENUE
26%
Earned Revenue
6% 5%
$5.31
EXPENSES
2012 9%
16%
89%
6% 4%
75% 90%
$9.11
REVENUE
67%
Foundation Funding & Other Grants
2010 2011 2012 2013
EXPENSES
$7.63
2011 REVENUE
$5.29 $10.08
EXPENSES
2010
Individual Donations
$9.39
REVENUE
$7.61
EXPENSES
$ millions
4
2
8
6
10
$12
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 6% 27%
Social Media
2011
Search
2013
IT/Tech 2011
35%
Third-Party
2013
General/Admin
Partnership 0%
2011 2013
29%
32%
Direct Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
1
2
3
4
5
6
7
8
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
Chalkbeat TYPE NATIONAL
LAUNCH 2013*
TARGET MARKET NATIONAL
April 2015
FULL-TIME EMPLOYEES 16
Revenue and Expenses 2013
Revenue Composition 2010–2013
2013 10%
Earned Revenue
9%
6%
$2.46
REVENUE
$1.83
EXPENSES
2012 7%
23% 28%
14%
68%
2%
REVENUE*
84%
65% 84%
Foundation Funding & Other Grants
2010 2011 2012 2013
EXPENSES*
2011 REVENUE* EXPENSES*
Individual Donations /Membership
2010 REVENUE* EXPENSES*
$ millions
1.0
0.5
2.5
2.0
1.5
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 27%
Social Media Search
32%
2011* 2013
IT/Tech 2011* 2013
17%
Third-Party Partnership 0%
29%
24%
Direct
General/Admin 2011* 2013
Marketing/Development 2011* 2013
K N I G H T F O U N D AT I O N.ORG *Note: There was incomplete data for Chalkbeat’s predecessors, GothamSchools and EdNews Colorado.
$ millions
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
Charlottesville Tomorrow TYPE LOCAL
LAUNCH 2005
TARGET MARKET CHARLOTTESVILLE, VA
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013 Earned Revenue
13% 2%
Foundation Funding & Other Grants
15% 2%
17%
6% 4%
FULL-TIME EMPLOYEES 4
2013 $.24
REVENUE
$.30
EXPENSES
2012 $.42
REVENUE
48%
EXPENSES
90%
$.35
2011
2010 2011 2012 2013
REVENUE
$.33 $.28
EXPENSES
2010 81% 50%
72%
Individual Donations /Membership
REVENUE
$0
EXPENSES
$0
$ millions
0.1
0.2
0.3
0.4
0.5
0.15
0.20
0.25
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 13% 29% 13%
Social Media
2011
Search
2013
Third-Party
IT/Tech 2011 2013
13%
29%
32%
Partnership
Direct
General/Admin 2011 2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.05
0.10
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
City Limits TYPE LOCAL
LAUNCH 1976
April 2015
TARGET MARKET NEW YORK CITY, NY
FULL-TIME EMPLOYEES 3
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013 28%
Earned Revenue
25%
REVENUE
$.47
EXPENSES
$.47
2012 24%
83% 74%
17%
76% 83%
Foundation Funding & Other Grants
2010 2011 2012 2013
1%
4%
Individual Donations /Membership
REVENUE
$.56
EXPENSES
$.56
2011 REVENUE
$.70
EXPENSES
$.70
2010 $.77
REVENUE
$.78
EXPENSES
$ millions
0.2
0.3
0.4
0.5
0.6
0.7
0.8
Expenditures 2011 vs. 2013
Website Referral Sources 2013 3%
0.1
Search
Editorial 2011
17%
Social Media Referral
2013
IT/Tech 2011
10%
Third-Party
2013
General/Admin 8%
29%
62%
Partnership Direct
2011 2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.05
0.10
0.15
0.20
0.25
0.30
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
Florida Center for Investigative Reporting TYPE STATE/REGIONAL
LAUNCH 2010
TARGET MARKET FLORIDA
FULL-TIME EMPLOYEES 2
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013 Earned Revenue
20%
$.15
REVENUE
$.14
EXPENSES
24% 2
2013
2012 5% 76% 71% 93%
Foundation Funding & Other Grants
100%
4%
$.14
REVENUE EXPENSES
$.12
2011
2010 2011 2012 2013 5%
REVENUE
Individual Donations /Membership
$.11 $.06
EXPENSES
2010 $.10
REVENUE EXPENSES
$0 0.03
$ millions
0.06
0.09
0.12
0.15
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 2011
54%
Search
7%
Social
2013
IT/Tech 2011 2013
11%
Third-Party
General/Admin 2011
3% 29%
25%
Partnership Direct
2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.02
0.04
0.06
0.08
0.10
0.12
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
inewsource TYPE LOCAL
LAUNCH 2008
TARGET MARKET SAN DIEGO, CA
April 2015
FULL-TIME EMPLOYEES 4
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013
Individual Donations /Membership
31% 43%
3%
Earned Revenue
$7.84
REVENUE
$5.31
EXPENSES
2012 52%
1 69% 54% 47%
Foundation Funding & Other Grants
100%
$9.11
REVENUE EXPENSES
$7.63
2011
2010 2011 2012 2013
REVENUE
$5.29 $10.08
EXPENSES
2010 $9.39
REVENUE
$7.61
EXPENSES
$ millions
0.1
0.2
0.3
0.4
0.5
0.6
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 21% 7%
Social Media
2011
Third-Party
2013
Search
2011
IT/Tech 28%
2013
20%
Partnership General/Admin 2011
29%
24%
Direct
2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions 0.05
0.10
0.15
0.20
0.25
0.30
0.35
0.40
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
IowaWatch TYPE STATE/REGIONAL
LAUNCH 2010
TARGET MARKET IOWA
April 2015
FULL-TIME EMPLOYEES 2
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013 21%
$.13
REVENUE
Earned Revenue
29%
$.16
EXPENSES
2012 1 5%
75% 66%
6% 4%
94%
Foundation Funding & Other Grants
90%
$.03
REVENUE EXPENSES
$.07
2011
4%
2010 2011 2012 2013
REVENUE EXPENSES
5%
Individual Donations /Membership
$.11 $.005
2010 REVENUE
$0
EXPENSES
$0
$ millions
0.05
0.10
0.15
0.20
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 2011
5%
Search
2013
IT/Tech 2011
14%
Social Media
2013
General/Admin 5% 29%
75%
Third-Party 1% Partnership Direct
2011 2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.01
0.02
0.03
0.04
0.05
0.06
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
The Lens TYPE LOCAL
LAUNCH 2009
April 2015
TARGET MARKET NEW ORLEANS, LA
FULL-TIME EMPLOYEES 9
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013 16%
9%
2013
1
$.86
REVENUE
4%
Individual Donations /Membership
4%
Earned Revenue
1 99%
87%
96%
83%
Foundation Funding & Other Grants
$.84
EXPENSES
2012 $.70
REVENUE EXPENSES
$.49
2011
2010 2011 2012 2013
REVENUE
$.20 $.48
EXPENSES
2010 $.71
REVENUE
$.20
EXPENSES
$ millions
0.2
0.4
0.6
0.8
1.0
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 2011
18% 38%
Social Media Search
2013
IT/Tech 2011
11%
Third-Party
2013
General/Admin 7%
Partnership
2011 2013
29%
26%
Direct Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
Midwest Center for Investigative Reporting TYPE STATE/REGIONAL
LAUNCH 2009
TARGET MARKET MIDWEST
FULL-TIME EMPLOYEES 1
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013 $.14
REVENUE
Earned Revenue 0%
$.10
EXPENSES
2012 9% 100%
16%
100%
6% 4%
75%
Foundation Funding & Other Grants
90%
$.15
REVENUE EXPENSES
$.003
2011
2010 2011 2012 2013
REVENUE
$0
EXPENSES
$0
2010
Individual Donations /Membership 0%
REVENUE
$0
EXPENSES
$0
$ millions
0.03
0.06
0.09
0.12
0.15
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 6%
Third-Party
6%
Social Media Referral
2011 2013
IT/Tech 2011
35%
Partnership
2013
General/Admin 27% 29%
Search 32%
Direct
2011 2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.01
0.02
0.03
0.04
0.05
0.06
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
MinnPost TYPE STATE/REGIONAL
LAUNCH 2007
April 2015
TARGET MARKET MINNESOTA
FULL-TIME EMPLOYEES 17
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013
Earned Revenue
40%
$1.62
REVENUE
$1.50
EXPENSES
38% 16% 35%
20%
Foundation Funding & Other Grants
21%
34%
2012 $1.51
REVENUE EXPENSES
36%
$1.49
2011
2010 2011 2012 2013
REVENUE
$1.52 $1.50
EXPENSES 30%
2010 44%
$1.28
REVENUE 42%
$1.26
EXPENSES 44%
Individual Donations /Membership
0.5
$ millions
1.5
1.0
2.0
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 47%
Search
2011 2013
IT/Tech 17%
Social Media Partnership 0%
2011 2013
General/Admin 8%
29%
28%
Third-Party Direct
2011 2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.2
0.4
0.6
0.8
1.0
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
New England CIR TYPE STATE/REGIONAL
LAUNCH 2009
TARGET MARKET NEW ENGLAND
FULL-TIME EMPLOYEES 3
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013 $.62
REVENUE
50%
Earned Revenue
35%
$.45
EXPENSES
2012 31%
44% 60%
34%
62%
Foundation Funding & Other Grants
58%
$.69
REVENUE EXPENSES
$.49
2011
2010 2011 2012 2013
REVENUE
$.58 $.44
EXPENSES 7%
8%
2010
Individual Donations /Membership
5%
$.39
REVENUE
$.41
EXPENSES
$ millions
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
6%
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 2011 2013
65%
Third-Party
IT/Tech 2011 2013
Social Media 6%
5% 29%
20% 8%
General/Admin 2011
Partnership Search Direct
2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.05
0.10
0.15
0.20
0.25
0.30
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
New Haven Independent TYPE LOCAL
LAUNCH 2005
TARGET MARKET NEW HAVEN, CT
FULL-TIME EMPLOYEES 6
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013 46%
$.53
REVENUE
Earned Revenue
10%
$.46
EXPENSES
2012 8%
30%
25% 60%
5%
27% 18%
65%
Foundation Funding & Other Grants
77%
$.55
REVENUE EXPENSES
$.44
2011
2010 2011 2012 2013
REVENUE
$.56 $.42
EXPENSES
2010 $.57
REVENUE
$.48
EXPENSES 29%
Individual Donations /Membership
$ millions
0.1
0.2
0.3
0.4
0.5
0.6
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial
Search
26%
2011 2013
11%
Social Media
IT/Tech 2011 2013
12%
Third-Party
General/Admin 2011
29%
50%
Partnership 1% Direct
2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions 0.05
0.10
0.15
0.20
0.25
0.30
0.35
0.40
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
NJ Spotlight TYPE STATE/REGIONAL
LAUNCH 2010
April 2015
TARGET MARKET NEW JERSEY
FULL-TIME EMPLOYEES 9
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013 26%
$.91
REVENUE
Earned Revenue
29%
$.97
EXPENSES
2012
35% 73% 71%
4% 6%
65%
Foundation Funding & Other Grants
90%
REVENUE
$.82
EXPENSES
$.82
2011
2010 2011 2012 2013
REVENUE
Individual Donations /Membership
1%
$.64 $.62
EXPENSES
2010 $.37
REVENUE
$.38
EXPENSES
$ millions
0.4
0.6
0.8
1.0
Expenditures 2011 vs. 2013
Website Referral Sources 2013 Social Media Referral
10%
0.2
Editorial 2011
Search
30%
2013
14%
Third-Party
IT/Tech 2011 2013
15%
Partnership
General/Admin 2011
29%
31%
Direct
2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.1
0.2
0.3
0.4
0.5
0.6
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
Oakland Local TYPE LOCAL
LAUNCH 2009
TARGET MARKET OAKLAND, CA
FULL-TIME EMPLOYEES 2
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013 17%
$.26
REVENUE
Earned Revenue
29%
$.11
EXPENSES
2012 37% 80%
3%
68%
1 5%
54%
Foundation Funding & Other Grants
94%
$.16
REVENUE EXPENSES
$.12
2011
2010 2011 2012 2013
REVENUE EXPENSES
3%
$.04 $.04
2010
Individual Donations /Membership
9%
$.09
REVENUE
$.06
EXPENSES
$ millions
0.05
0.10
0.15
0.20
0.25
0.30
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial
Social Media
45%
2011 2013
20%
Third-Party
IT/Tech 2011 2013
General/Admin 10% 15% 29%
10%
Partnership Search Direct
2011 2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions 0.005
0.010
0.015
0.020
0.025
0.030
0.035
0.040
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
PHL Public School Notebook TYPE LOCAL
LAUNCH 1994
TARGET MARKET PHILADELPHIA, PA
FULL-TIME EMPLOYEES 7
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013 23%
$.85
REVENUE
Earned Revenue
19%
$.73
EXPENSES
2012 25% 68% 74%
6% 4%
67%
Foundation Funding & Other Grants
90%
EXPENSES
$.78
2011
7%
2010 2011 2012 2013 9%
$.84
REVENUE
8%
REVENUE
$.65
EXPENSES
$.65
2010
Individual Donations /Membership
REVENUE
$0
EXPENSES
$0
$ millions
0.2
0.4
0.6
0.8
1.0
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 51%
Search
2011 2013
8%
Social Media
IT/Tech 2011
13%
Third-Party
2013
General/Admin 4% 29%
24%
2011
Partnership
2013
Direct Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions 0.05
0.10
0.15
0.20
0.25
0.30
0.35
0.40
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
ProPublica TYPE NATIONAL
LAUNCH 2008
TARGET MARKET NATIONAL
April 2015
FULL-TIME EMPLOYEES 47
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013 Earned Revenue
1
22%
Foundation Funding & Other Grants
23%
2013 $11.93
REVENUE
$10.33
EXPENSES
2012 $10.16
REVENUE
18%
EXPENSES
18%
$9.89
2011 2010 2011 2012 2013
REVENUE
82%
EXPENSES 82%
$10.04 $9.65
2010
77% 77%
Individual Donations /Membership
$9.84
REVENUE
$9.14
EXPENSES
$ millions
2
4
6
8
12
10
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 15%
Social Media Search
28%
2011 2013
IT/Tech 2011
27%
Third-Party
2013
General/Admin
Partnership 0% 29%
30%
Direct
2011 2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
1
2
3
4
5
6
7
8
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
The Rapidian TYPE LOCAL
LAUNCH 2009
April 2015
TARGET MARKET GRAND RAPIDS, MI
FULL-TIME EMPLOYEES 1
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013 Earned Revenue
75% 53%
13%
2013 $.03
REVENUE
$.15
EXPENSES
5%
Foundation Funding & Other Grants
87%
2012 REVENUE
100%
42%
25%
Individual Donations /Membership
2010 2011 2012 2013
$.02
EXPENSES
$.14
2011 REVENUE
$.14 $.10
EXPENSES
2010 $.04
REVENUE
$.07
EXPENSES
$ millions
0.03
0.06
0.09
0.12
0.15
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 2011
Social Media Referral
23%
2013
IT/Tech 2011
50%
Third-Party
2013
General/Admin
17% 29%
10%
Partnership 0%
2011
Search
2013
Direct
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.03
0.06
0.09
0.12
0.15
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
St. Louis Public Radio TYPE NATIONAL
LAUNCH 1972
TARGET MARKET ST. LOUIS, MO
FULL-TIME EMPLOYEES 39
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013
24%
$7.06
REVENUE
Earned Revenue
23%
$6.96
EXPENSES
2012 27% 43%
3 2 41%
$7.32
REVENUE
39%
Foundation Funding & Other Grants
2010 2011 2012 2013
EXPENSES
$6.35
2011 REVENUE
$7.40 $5.26
EXPENSES 95%
2010
Individual Donations /Membership
32%
$4.48
REVENUE
$1.30
EXPENSES
34%
$ millions
37%
2
1
3
4
5
6
7
8
2.5
3.0
3.5
4.0
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial
Search
3%
2011 2013
29%
Social Media
IT/Tech 2011
Partnership 0%
2013
General/Admin 10%
Third-Party
2011 2013
29%
58%
Direct Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.5
1.0
1.5
2.0
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
The Texas Tribune TYPE STATE/REGIONAL
LAUNCH 2009
TARGET MARKET TEXAS
FULL-TIME EMPLOYEES 42
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013 38%
42%
52% 49%
30%
Foundation Funding & Other Grants
13%
Earned Revenue 14%
$7.05
REVENUE
$5.22
EXPENSES
2012 $4.27
REVENUE EXPENSES
23%
$4.50
2011 2010 2011 2012 2013
REVENUE
$4.20 $4.60
EXPENSES 47% 37% 35%
Individual Donations /Membership
2010 $2.25
REVENUE
$2.99
EXPENSES
$ millions
1
2
3
4
5
6
7
8
20%
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial
Search
44%
2011 2013
16%
Social Media
IT/Tech 2011 2013
17%
Third-Party
General/Admin 2011
29%
22%
Partnership 1% Direct
2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.5
1.0
1.5
2.0
2.5
3.0
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
Voice of Orange County TYPE LOCAL
LAUNCH 2009
TARGET MARKET ORANGE COUNTY, CA
FULL-TIME EMPLOYEES 5
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013
Individual Donations /Membership
12% 16%
Earned Revenue 0%
20% 88% 84%
6% 4%
80%
Foundation Funding & Other Grants
90%
$.57
REVENUE
$.54
EXPENSES
2012 $.54
REVENUE EXPENSES
$.46
2011
2010 2011 2012 2013
REVENUE
$.39 $.38
EXPENSES
2010 REVENUE
$0
EXPENSES
$0
$ millions
0.1
0.2
0.3
0.4
0.5
0.6
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 2011
33%
Search 5%
Social Media Referral
2013
IT/Tech 2011 2013
18%
Third-Party Partnership 0%
29%
44%
Direct
General/Admin 2011 2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.05
0.10
0.15
0.20
0.25
0.30
0.35
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
Voice of San Diego TYPE LOCAL
LAUNCH 2005
TARGET MARKET SAN DIEGO, CA
FULL-TIME EMPLOYEES 11
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013 $1.32
REVENUE
16%
Earned Revenue
13%
$1.11
EXPENSES
2012 14%
28% 38% 30%
15%
Foundation Funding & Other Grants
42%
$1.39
REVENUE EXPENSES
$1.13
2011
2010 2011 2012 2013
REVENUE
$1.04 $1.23
EXPENSES 43%
2010 $1.17
REVENUE
56%
$1.02
EXPENSES 49%
Individual Donations /Membership
56%
$ millions
0.3
0.6
0.9
1.2
1.5
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 35% 8%
Search
2011
Social Media Referral
2013
IT/Tech 2011 2013
18%
Third-Party Partnership 0%
29%
39%
Direct
General/Admin 2011 2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions 0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
VTDigger TYPE STATE/REGIONAL
LAUNCH 2009
April 2015
TARGET MARKET VERMONT
FULL-TIME EMPLOYEES 7
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013 42%
$.51
REVENUE
Earned Revenue
42%
$.46
EXPENSES
2012 22% 37% 34%
8%
51%
Foundation Funding & Other Grants
59%
$.34
REVENUE EXPENSES
$.36
2011
2010 2011 2012 2013
REVENUE
$.17 $.19
EXPENSES
33%
2010 REVENUE
27%
$.06
EXPENSES
$.03
24%
Individual Donations /Membership
21%
$ millions
0.1
0.2
0.3
0.4
0.5
0.6
0.20
0.25
0.30
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 2011
40%
2013
Search IT/Tech
8%
12%
Social Media Referral
2011
Partnership 0%
2013
Third-Party
General/Admin 2011
29%
40%
Direct
2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.05
0.10
0.15
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
WisconsinWatch TYPE STATE/REGIONAL
LAUNCH 2009
TARGET MARKET WISCONSIN
FULL-TIME EMPLOYEES 4
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013 5%
5% 8%
2% 24% 90% 90%
6% 4%
4%
72%
Individual Donations /Membership
REVENUE
Earned Revenue
2012
Foundation Funding & Other Grants
REVENUE
90%
$.39 $.36
EXPENSES
$.42
EXPENSES
$.34
2011
2010 2011 2012 2013
REVENUE
$.24 $.28
EXPENSES
2010 $.16
REVENUE EXPENSES
$0
$ millions
0.1
0.2
0.3
0.4
0.5
0.15
0.20
0.25
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 2011
52%
Search
2013
IT/Tech 2011
17%
Social Media
2013
General/Admin 4% 29%
26%
2011
Third-Party 1% Partnership Direct
2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.05
0.10
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
WyoFile TYPE STATE/REGIONAL
LAUNCH 2008
TARGET MARKET WYOMING
FULL-TIME EMPLOYEES 3
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013 Earned Revenue
3%
21%
$.24
REVENUE
$.26
EXPENSES
1
7%
2013
Individual Donations /Membership
22% 35% 65%
78%
92%
76%
Foundation Funding & Other Grants
2010 2011 2012 2013
2012 $.16
REVENUE EXPENSES
$.27
2011 REVENUE
$.27 $.21
EXPENSES
2010 $.24
REVENUE
$.16
EXPENSES
$ millions
0.05
0.10
0.15
0.20
0.25
0.30
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial
Search
37%
2011 2013
20%
Social Media
IT/Tech 2011 2013
General/Admin 11% 4% 29%
32%
Third-Party Partnership 0% Direct
2011 2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.05
0.10
0.15
0.20
April 2015
Center for Investigative Reporting TYPE NATIONAL
LAUNCH 1977
TARGET MARKET NATIONAL
FULL-TIME EMPLOYEES 74
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013 Earned Revenue
4% 30%
$10.11
REVENUE
$10.53
EXPENSES
4%
Individual Donations /Membership
69% 7% 6%
2013
27%
32
87% 95%
2012 $12.13
REVENUE
66%
Foundation Funding & Other Grants
2010 2011 2012 2013
EXPENSES
$8.75
2011 REVENUE
$4.64
EXPENSES
$4.60
2010 $4.62
REVENUE
$3.45
EXPENSES
$ millions
6
3
9
12
15
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 21%
Social Media
2011 2013
IT/Tech 22%
Search 33%
Third-Party
2011 2013
General/Admin
Partnership 0%
2011 2013
29%
24%
Direct Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
1
2
3
4
5
6
7
8
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
Center for Public Integrity TYPE NATIONAL
LAUNCH 1989
TARGET MARKET NATIONAL
FULL-TIME EMPLOYEES 45
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013 7%
$7.84
REVENUE
26%
Earned Revenue
6% 5%
$5.31
EXPENSES
2012 9%
16%
89%
6% 4%
75% 90%
$9.11
REVENUE
67%
Foundation Funding & Other Grants
2010 2011 2012 2013
EXPENSES
$7.63
2011 REVENUE
$5.29 $10.08
EXPENSES
2010
Individual Donations
$9.39
REVENUE
$7.61
EXPENSES
$ millions
4
2
8
6
10
$12
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 6% 27%
Social Media
2011
Search
2013
IT/Tech 2011
35%
Third-Party
2013
General/Admin
Partnership 0%
2011 2013
29%
32%
Direct Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
1
2
3
4
5
6
7
8
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
Chalkbeat TYPE NATIONAL
LAUNCH 2013*
TARGET MARKET NATIONAL
April 2015
FULL-TIME EMPLOYEES 16
Revenue and Expenses 2013
Revenue Composition 2010–2013
2013 10%
Earned Revenue
9%
6%
$2.46
REVENUE
$1.83
EXPENSES
2012 7%
23% 28%
14%
68%
2%
REVENUE*
84%
65% 84%
Foundation Funding & Other Grants
2010 2011 2012 2013
EXPENSES*
2011 REVENUE* EXPENSES*
Individual Donations /Membership
2010 REVENUE* EXPENSES*
$ millions
1.0
0.5
2.5
2.0
1.5
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 27%
Social Media Search
32%
2011* 2013
IT/Tech 2011* 2013
17%
Third-Party Partnership 0%
29%
24%
Direct
General/Admin 2011* 2013
Marketing/Development 2011* 2013
K N I G H T F O U N D AT I O N.ORG *Note: There was incomplete data for Chalkbeat’s predecessors, GothamSchools and EdNews Colorado.
$ millions
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
Charlottesville Tomorrow TYPE LOCAL
LAUNCH 2005
TARGET MARKET CHARLOTTESVILLE, VA
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013 Earned Revenue
13% 2%
Foundation Funding & Other Grants
15% 2%
17%
6% 4%
FULL-TIME EMPLOYEES 4
2013 $.24
REVENUE
$.30
EXPENSES
2012 $.42
REVENUE
48%
EXPENSES
90%
$.35
2011
2010 2011 2012 2013
REVENUE
$.33 $.28
EXPENSES
2010 81% 50%
72%
Individual Donations /Membership
REVENUE
$0
EXPENSES
$0
$ millions
0.1
0.2
0.3
0.4
0.5
0.15
0.20
0.25
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 13% 29% 13%
Social Media
2011
Search
2013
Third-Party
IT/Tech 2011 2013
13%
29%
32%
Partnership
Direct
General/Admin 2011 2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.05
0.10
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
City Limits TYPE LOCAL
LAUNCH 1976
April 2015
TARGET MARKET NEW YORK CITY, NY
FULL-TIME EMPLOYEES 3
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013 28%
Earned Revenue
25%
REVENUE
$.47
EXPENSES
$.47
2012 24%
83% 74%
17%
76% 83%
Foundation Funding & Other Grants
2010 2011 2012 2013
1%
4%
Individual Donations /Membership
REVENUE
$.56
EXPENSES
$.56
2011 REVENUE
$.70
EXPENSES
$.70
2010 $.77
REVENUE
$.78
EXPENSES
$ millions
0.2
0.3
0.4
0.5
0.6
0.7
0.8
Expenditures 2011 vs. 2013
Website Referral Sources 2013 3%
0.1
Search
Editorial 2011
17%
Social Media Referral
2013
IT/Tech 2011
10%
Third-Party
2013
General/Admin 8%
29%
62%
Partnership Direct
2011 2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.05
0.10
0.15
0.20
0.25
0.30
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
Florida Center for Investigative Reporting TYPE STATE/REGIONAL
LAUNCH 2010
TARGET MARKET FLORIDA
FULL-TIME EMPLOYEES 2
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013 Earned Revenue
20%
$.15
REVENUE
$.14
EXPENSES
24% 2
2013
2012 5% 76% 71% 93%
Foundation Funding & Other Grants
100%
4%
$.14
REVENUE EXPENSES
$.12
2011
2010 2011 2012 2013 5%
REVENUE
Individual Donations /Membership
$.11 $.06
EXPENSES
2010 $.10
REVENUE EXPENSES
$0 0.03
$ millions
0.06
0.09
0.12
0.15
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 2011
54%
Search
7%
Social
2013
IT/Tech 2011 2013
11%
Third-Party
General/Admin 2011
3% 29%
25%
Partnership Direct
2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.02
0.04
0.06
0.08
0.10
0.12
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
inewsource TYPE LOCAL
LAUNCH 2008
TARGET MARKET SAN DIEGO, CA
April 2015
FULL-TIME EMPLOYEES 4
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013
Individual Donations /Membership
31% 43%
3%
Earned Revenue
$7.84
REVENUE
$5.31
EXPENSES
2012 52%
1 69% 54% 47%
Foundation Funding & Other Grants
100%
$9.11
REVENUE EXPENSES
$7.63
2011
2010 2011 2012 2013
REVENUE
$5.29 $10.08
EXPENSES
2010 $9.39
REVENUE
$7.61
EXPENSES
$ millions
0.1
0.2
0.3
0.4
0.5
0.6
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 21% 7%
Social Media
2011
Third-Party
2013
Search
2011
IT/Tech 28%
2013
20%
Partnership General/Admin 2011
29%
24%
Direct
2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions 0.05
0.10
0.15
0.20
0.25
0.30
0.35
0.40
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
IowaWatch TYPE STATE/REGIONAL
LAUNCH 2010
TARGET MARKET IOWA
April 2015
FULL-TIME EMPLOYEES 2
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013 21%
$.13
REVENUE
Earned Revenue
29%
$.16
EXPENSES
2012 1 5%
75% 66%
6% 4%
94%
Foundation Funding & Other Grants
90%
$.03
REVENUE EXPENSES
$.07
2011
4%
2010 2011 2012 2013
REVENUE EXPENSES
5%
Individual Donations /Membership
$.11 $.005
2010 REVENUE
$0
EXPENSES
$0
$ millions
0.05
0.10
0.15
0.20
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 2011
5%
Search
2013
IT/Tech 2011
14%
Social Media
2013
General/Admin 5% 29%
75%
Third-Party 1% Partnership Direct
2011 2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.01
0.02
0.03
0.04
0.05
0.06
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
The Lens TYPE LOCAL
LAUNCH 2009
April 2015
TARGET MARKET NEW ORLEANS, LA
FULL-TIME EMPLOYEES 9
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013 16%
9%
2013
1
$.86
REVENUE
4%
Individual Donations /Membership
4%
Earned Revenue
1 99%
87%
96%
83%
Foundation Funding & Other Grants
$.84
EXPENSES
2012 $.70
REVENUE EXPENSES
$.49
2011
2010 2011 2012 2013
REVENUE
$.20 $.48
EXPENSES
2010 $.71
REVENUE
$.20
EXPENSES
$ millions
0.2
0.4
0.6
0.8
1.0
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 2011
18% 38%
Social Media Search
2013
IT/Tech 2011
11%
Third-Party
2013
General/Admin 7%
Partnership
2011 2013
29%
26%
Direct Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
Midwest Center for Investigative Reporting TYPE STATE/REGIONAL
LAUNCH 2009
TARGET MARKET MIDWEST
FULL-TIME EMPLOYEES 1
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013 $.14
REVENUE
Earned Revenue 0%
$.10
EXPENSES
2012 9% 100%
16%
100%
6% 4%
75%
Foundation Funding & Other Grants
90%
$.15
REVENUE EXPENSES
$.003
2011
2010 2011 2012 2013
REVENUE
$0
EXPENSES
$0
2010
Individual Donations /Membership 0%
REVENUE
$0
EXPENSES
$0
$ millions
0.03
0.06
0.09
0.12
0.15
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 6%
Third-Party
6%
Social Media Referral
2011 2013
IT/Tech 2011
35%
Partnership
2013
General/Admin 27% 29%
Search 32%
Direct
2011 2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.01
0.02
0.03
0.04
0.05
0.06
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
MinnPost TYPE STATE/REGIONAL
LAUNCH 2007
April 2015
TARGET MARKET MINNESOTA
FULL-TIME EMPLOYEES 17
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013
Earned Revenue
40%
$1.62
REVENUE
$1.50
EXPENSES
38% 16% 35%
20%
Foundation Funding & Other Grants
21%
34%
2012 $1.51
REVENUE EXPENSES
36%
$1.49
2011
2010 2011 2012 2013
REVENUE
$1.52 $1.50
EXPENSES 30%
2010 44%
$1.28
REVENUE 42%
$1.26
EXPENSES 44%
Individual Donations /Membership
0.5
$ millions
1.5
1.0
2.0
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 47%
Search
2011 2013
IT/Tech 17%
Social Media Partnership 0%
2011 2013
General/Admin 8%
29%
28%
Third-Party Direct
2011 2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.2
0.4
0.6
0.8
1.0
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
New England CIR TYPE STATE/REGIONAL
LAUNCH 2009
TARGET MARKET NEW ENGLAND
FULL-TIME EMPLOYEES 3
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013 $.62
REVENUE
50%
Earned Revenue
35%
$.45
EXPENSES
2012 31%
44% 60%
34%
62%
Foundation Funding & Other Grants
58%
$.69
REVENUE EXPENSES
$.49
2011
2010 2011 2012 2013
REVENUE
$.58 $.44
EXPENSES 7%
8%
2010
Individual Donations /Membership
5%
$.39
REVENUE
$.41
EXPENSES
$ millions
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
6%
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 2011 2013
65%
Third-Party
IT/Tech 2011 2013
Social Media 6%
5% 29%
20% 8%
General/Admin 2011
Partnership Search Direct
2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.05
0.10
0.15
0.20
0.25
0.30
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
New Haven Independent TYPE LOCAL
LAUNCH 2005
TARGET MARKET NEW HAVEN, CT
FULL-TIME EMPLOYEES 6
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013 46%
$.53
REVENUE
Earned Revenue
10%
$.46
EXPENSES
2012 8%
30%
25% 60%
5%
27% 18%
65%
Foundation Funding & Other Grants
77%
$.55
REVENUE EXPENSES
$.44
2011
2010 2011 2012 2013
REVENUE
$.56 $.42
EXPENSES
2010 $.57
REVENUE
$.48
EXPENSES 29%
Individual Donations /Membership
$ millions
0.1
0.2
0.3
0.4
0.5
0.6
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial
Search
26%
2011 2013
11%
Social Media
IT/Tech 2011 2013
12%
Third-Party
General/Admin 2011
29%
50%
Partnership 1% Direct
2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions 0.05
0.10
0.15
0.20
0.25
0.30
0.35
0.40
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
NJ Spotlight TYPE STATE/REGIONAL
LAUNCH 2010
April 2015
TARGET MARKET NEW JERSEY
FULL-TIME EMPLOYEES 9
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013 26%
$.91
REVENUE
Earned Revenue
29%
$.97
EXPENSES
2012
35% 73% 71%
4% 6%
65%
Foundation Funding & Other Grants
90%
REVENUE
$.82
EXPENSES
$.82
2011
2010 2011 2012 2013
REVENUE
Individual Donations /Membership
1%
$.64 $.62
EXPENSES
2010 $.37
REVENUE
$.38
EXPENSES
$ millions
0.4
0.6
0.8
1.0
Expenditures 2011 vs. 2013
Website Referral Sources 2013 Social Media Referral
10%
0.2
Editorial 2011
Search
30%
2013
14%
Third-Party
IT/Tech 2011 2013
15%
Partnership
General/Admin 2011
29%
31%
Direct
2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.1
0.2
0.3
0.4
0.5
0.6
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
Oakland Local TYPE LOCAL
LAUNCH 2009
TARGET MARKET OAKLAND, CA
FULL-TIME EMPLOYEES 2
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013 17%
$.26
REVENUE
Earned Revenue
29%
$.11
EXPENSES
2012 37% 80%
3%
68%
1 5%
54%
Foundation Funding & Other Grants
94%
$.16
REVENUE EXPENSES
$.12
2011
2010 2011 2012 2013
REVENUE EXPENSES
3%
$.04 $.04
2010
Individual Donations /Membership
9%
$.09
REVENUE
$.06
EXPENSES
$ millions
0.05
0.10
0.15
0.20
0.25
0.30
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial
Social Media
45%
2011 2013
20%
Third-Party
IT/Tech 2011 2013
General/Admin 10% 15% 29%
10%
Partnership Search Direct
2011 2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions 0.005
0.010
0.015
0.020
0.025
0.030
0.035
0.040
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
PHL Public School Notebook TYPE LOCAL
LAUNCH 1994
TARGET MARKET PHILADELPHIA, PA
FULL-TIME EMPLOYEES 7
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013 23%
$.85
REVENUE
Earned Revenue
19%
$.73
EXPENSES
2012 25% 68% 74%
6% 4%
67%
Foundation Funding & Other Grants
90%
EXPENSES
$.78
2011
7%
2010 2011 2012 2013 9%
$.84
REVENUE
8%
REVENUE
$.65
EXPENSES
$.65
2010
Individual Donations /Membership
REVENUE
$0
EXPENSES
$0
$ millions
0.2
0.4
0.6
0.8
1.0
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 51%
Search
2011 2013
8%
Social Media
IT/Tech 2011
13%
Third-Party
2013
General/Admin 4% 29%
24%
2011
Partnership
2013
Direct Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions 0.05
0.10
0.15
0.20
0.25
0.30
0.35
0.40
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
ProPublica TYPE NATIONAL
LAUNCH 2008
TARGET MARKET NATIONAL
April 2015
FULL-TIME EMPLOYEES 47
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013 Earned Revenue
1
22%
Foundation Funding & Other Grants
23%
2013 $11.93
REVENUE
$10.33
EXPENSES
2012 $10.16
REVENUE
18%
EXPENSES
18%
$9.89
2011 2010 2011 2012 2013
REVENUE
82%
EXPENSES 82%
$10.04 $9.65
2010
77% 77%
Individual Donations /Membership
$9.84
REVENUE
$9.14
EXPENSES
$ millions
2
4
6
8
12
10
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 15%
Social Media Search
28%
2011 2013
IT/Tech 2011
27%
Third-Party
2013
General/Admin
Partnership 0% 29%
30%
Direct
2011 2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
1
2
3
4
5
6
7
8
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
The Rapidian TYPE LOCAL
LAUNCH 2009
April 2015
TARGET MARKET GRAND RAPIDS, MI
FULL-TIME EMPLOYEES 1
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013 Earned Revenue
75% 53%
13%
2013 $.03
REVENUE
$.15
EXPENSES
5%
Foundation Funding & Other Grants
87%
2012 REVENUE
100%
42%
25%
Individual Donations /Membership
2010 2011 2012 2013
$.02
EXPENSES
$.14
2011 REVENUE
$.14 $.10
EXPENSES
2010 $.04
REVENUE
$.07
EXPENSES
$ millions
0.03
0.06
0.09
0.12
0.15
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 2011
Social Media Referral
23%
2013
IT/Tech 2011
50%
Third-Party
2013
General/Admin
17% 29%
10%
Partnership 0%
2011
Search
2013
Direct
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.03
0.06
0.09
0.12
0.15
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
St. Louis Public Radio TYPE NATIONAL
LAUNCH 1972
TARGET MARKET ST. LOUIS, MO
FULL-TIME EMPLOYEES 39
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013
24%
$7.06
REVENUE
Earned Revenue
23%
$6.96
EXPENSES
2012 27% 43%
3 2 41%
$7.32
REVENUE
39%
Foundation Funding & Other Grants
2010 2011 2012 2013
EXPENSES
$6.35
2011 REVENUE
$7.40 $5.26
EXPENSES 95%
2010
Individual Donations /Membership
32%
$4.48
REVENUE
$1.30
EXPENSES
34%
$ millions
37%
2
1
3
4
5
6
7
8
2.5
3.0
3.5
4.0
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial
Search
3%
2011 2013
29%
Social Media
IT/Tech 2011
Partnership 0%
2013
General/Admin 10%
Third-Party
2011 2013
29%
58%
Direct Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.5
1.0
1.5
2.0
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
The Texas Tribune TYPE STATE/REGIONAL
LAUNCH 2009
TARGET MARKET TEXAS
FULL-TIME EMPLOYEES 42
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013 38%
42%
52% 49%
30%
Foundation Funding & Other Grants
13%
Earned Revenue 14%
$7.05
REVENUE
$5.22
EXPENSES
2012 $4.27
REVENUE EXPENSES
23%
$4.50
2011 2010 2011 2012 2013
REVENUE
$4.20 $4.60
EXPENSES 47% 37% 35%
Individual Donations /Membership
2010 $2.25
REVENUE
$2.99
EXPENSES
$ millions
1
2
3
4
5
6
7
8
20%
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial
Search
44%
2011 2013
16%
Social Media
IT/Tech 2011 2013
17%
Third-Party
General/Admin 2011
29%
22%
Partnership 1% Direct
2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.5
1.0
1.5
2.0
2.5
3.0
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
Voice of Orange County TYPE LOCAL
LAUNCH 2009
TARGET MARKET ORANGE COUNTY, CA
FULL-TIME EMPLOYEES 5
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013
Individual Donations /Membership
12% 16%
Earned Revenue 0%
20% 88% 84%
6% 4%
80%
Foundation Funding & Other Grants
90%
$.57
REVENUE
$.54
EXPENSES
2012 $.54
REVENUE EXPENSES
$.46
2011
2010 2011 2012 2013
REVENUE
$.39 $.38
EXPENSES
2010 REVENUE
$0
EXPENSES
$0
$ millions
0.1
0.2
0.3
0.4
0.5
0.6
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 2011
33%
Search 5%
Social Media Referral
2013
IT/Tech 2011 2013
18%
Third-Party Partnership 0%
29%
44%
Direct
General/Admin 2011 2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.05
0.10
0.15
0.20
0.25
0.30
0.35
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
Voice of San Diego TYPE LOCAL
LAUNCH 2005
TARGET MARKET SAN DIEGO, CA
FULL-TIME EMPLOYEES 11
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013 $1.32
REVENUE
16%
Earned Revenue
13%
$1.11
EXPENSES
2012 14%
28% 38% 30%
15%
Foundation Funding & Other Grants
42%
$1.39
REVENUE EXPENSES
$1.13
2011
2010 2011 2012 2013
REVENUE
$1.04 $1.23
EXPENSES 43%
2010 $1.17
REVENUE
56%
$1.02
EXPENSES 49%
Individual Donations /Membership
56%
$ millions
0.3
0.6
0.9
1.2
1.5
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 35% 8%
Search
2011
Social Media Referral
2013
IT/Tech 2011 2013
18%
Third-Party Partnership 0%
29%
39%
Direct
General/Admin 2011 2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions 0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
VTDigger TYPE STATE/REGIONAL
LAUNCH 2009
April 2015
TARGET MARKET VERMONT
FULL-TIME EMPLOYEES 7
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013 42%
$.51
REVENUE
Earned Revenue
42%
$.46
EXPENSES
2012 22% 37% 34%
8%
51%
Foundation Funding & Other Grants
59%
$.34
REVENUE EXPENSES
$.36
2011
2010 2011 2012 2013
REVENUE
$.17 $.19
EXPENSES
33%
2010 REVENUE
27%
$.06
EXPENSES
$.03
24%
Individual Donations /Membership
21%
$ millions
0.1
0.2
0.3
0.4
0.5
0.6
0.20
0.25
0.30
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 2011
40%
2013
Search IT/Tech
8%
12%
Social Media Referral
2011
Partnership 0%
2013
Third-Party
General/Admin 2011
29%
40%
Direct
2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.05
0.10
0.15
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
WisconsinWatch TYPE STATE/REGIONAL
LAUNCH 2009
TARGET MARKET WISCONSIN
FULL-TIME EMPLOYEES 4
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013
2013 5%
5% 8%
2% 24% 90% 90%
6% 4%
4%
72%
Individual Donations /Membership
REVENUE
Earned Revenue
2012
Foundation Funding & Other Grants
REVENUE
90%
$.39 $.36
EXPENSES
$.42
EXPENSES
$.34
2011
2010 2011 2012 2013
REVENUE
$.24 $.28
EXPENSES
2010 $.16
REVENUE EXPENSES
$0
$ millions
0.1
0.2
0.3
0.4
0.5
0.15
0.20
0.25
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial 2011
52%
Search
2013
IT/Tech 2011
17%
Social Media
2013
General/Admin 4% 29%
26%
2011
Third-Party 1% Partnership Direct
2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.05
0.10
Gaining Ground: How Nonprofit News Ventures Seek Sustainability
April 2015
WyoFile TYPE STATE/REGIONAL
LAUNCH 2008
TARGET MARKET WYOMING
FULL-TIME EMPLOYEES 3
Revenue and Expenses 2010–2013
Revenue Composition 2010–2013 Earned Revenue
3%
21%
$.24
REVENUE
$.26
EXPENSES
1
7%
2013
Individual Donations /Membership
22% 35% 65%
78%
92%
76%
Foundation Funding & Other Grants
2010 2011 2012 2013
2012 $.16
REVENUE EXPENSES
$.27
2011 REVENUE
$.27 $.21
EXPENSES
2010 $.24
REVENUE
$.16
EXPENSES
$ millions
0.05
0.10
0.15
0.20
0.25
0.30
Expenditures 2011 vs. 2013
Website Referral Sources 2013
Editorial
Search
37%
2011 2013
20%
Social Media
IT/Tech 2011 2013
General/Admin 11% 4% 29%
32%
Third-Party Partnership 0% Direct
2011 2013
Marketing/Development 2011 2013
K N I G H T F O U N D AT I O N.ORG
$ millions
0.05
0.10
0.15
0.20
