Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2003.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
93 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
21 people listed on the 990.
Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2Yes
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Reinvents business models for local news publishers to ensure the sustainability of local journalism and support a strong democracy.
Questions for Local Media Foundation
Your first name shows with your question. Local Media Foundation answers here, for everyone.
Word in black is a collaboration with 10 of the nation's leading black publishers. Industry collaboration is one of LMF'S core pillars; wib focuses on content sharing, research, and publisher sustainability.
Local News Fund
Supports journalism projects in communities accross the country focused on important issues such as education, poverty, health, and more. Several dozen local and national media companies are clients.
Knight X Lma Bloomlab
One of several labs focused on driving sustainability for local news publishers.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $4.1M | $5.7M |
| InvestmentsLn 11–13 | $2K | $6K |
| Land, buildings, equipmentLn 10c | $3K | $0 |
| Total assetsLn 16 | $4.3M | $6.3M |
| LiabilitiesLn 26 | $2.1M | $1.3M |
| Net assetsLn 32 | $2.2M | $5.0M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $3.6M | $3.6M | ||
| Pay of current officers, directors and key staffLn 5 | $250K | $250K | ||
| Other salaries and wagesLn 7 | $885K | $767K | $118K | |
| Pension plan contributionsLn 8 | $44K | $28K | $16K | |
| Other employee benefitsLn 9 | $97K | $65K | $32K | |
| Payroll taxesLn 10 | $89K | $63K | $26K | |
| Legal feesLn 11b | $589 | $589 | ||
| Accounting feesLn 11c | $16K | $16K | ||
| Other fees for servicesLn 11g | $65K | $54K | $11K | |
| Advertising and promotionLn 12 | $20K | $20K | ||
| Office expensesLn 13 | $15K | $8K | $7K | |
| Information technologyLn 14 | $9K | $6K | $4K | |
| OccupancyLn 16 | $3K | $3K | ||
| TravelLn 17 | $159K | $156K | $3K | |
| Conferences, conventions and meetingsLn 19 | $8K | $8K | ||
| Depreciation, depletion and amortizationLn 22 | $3K | $3K | $398 | |
| Other expenses (24a–d)Ln 24 | $1.3M | $1.3M | $3K | |
| All other expensesLn 24e | $9K | $5K | $4K | |
| Total functional expensesLn 25 | $6.6M | $6.1M | $491K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest ViewingFiled with the IRS Nov 14, 2025 | $9.4M | $6.6M | $2.8M | $5.0M | 990 PDF |
| FY2023Filed with the IRS Nov 14, 2024 | $6.6M | $6.0M | $597K | $2.2M | 990 PDF |
| FY2022Filed with the IRS Nov 10, 2023 | $5.8M | $4.6M | $1.2M | $1.6M | 990 PDF |
| FY2021Filed with the IRS Nov 15, 2022 | $2.0M | $2.4M | −$369K | $457K | 990 PDF |
| FY2020Filed with the IRS Oct 20, 2021 | $5.5M | $4.9M | $579K | $828K | 990 PDF |
Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $9,394,019 revenue, 12 lines filed
Part VI · Governance 12 of 12 board members independent, 1 to look at
Part VIII · Statement of revenue $9,394,019 across 5 lines filed
Part IX · Statement of functional expenses $6,606,965 across 18 lines filed
Part X · Balance sheet $6,345,849 assets, 15 lines filed
Part XI · Reconciliation of net assets $5,034,804 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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