Investigative Newsource
- Assets
- $1.9m
- Revenue
- $2.1m
- Investments
- $28.9k
- Employees
- 26
- Location
- San Diego, CA
- Founding
- 09/2010
- Data as of
- 06/2022
- EIN
- 27-0732786
Organization Overview
Investigative Newsource, operating under the name Inewsource, is located in San Diego, CA. The organization was established in 2010. According to its NTEE Classification (B94) the organization is classified as: Parent & Teacher Groups, under the broad grouping of Education and related organizations. As of 06/2022, Inewsource employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Inewsource is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Inewsource generated $2.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $2.1m during the year ending 06/2022. While expenses have increased by 13.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE THE PUBLIC, CONDUCT PUBLIC INTEREST RESEARCH, IMPROVE SOCIAL CONDITIONS, BETTER SERVE THE PUBLIC INTEREST BY PROVIDING DATA-DRIVEN INVESTIGATIVE JOURNALISM IN SAN DIEGO AND IMPERIAL COUNTIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INVESTIGATIVE NEWSOURCE SATISFIES A NEED FOR DEEP, THOUGHTFUL, DATA-DRIVEN JOURNALISM THAT ILLUMINATES GOVERNMENT ACTIONS, ACCOUNTS FOR PUBLIC MONIES, PROVOKES A SEARCH FOR SOLUTIONS TO GOVERNMENTAL AND SOCIETAL PROBLEMS, STRENGTHENS DEMOCRACY IN THE REGION, AND TRAINS FUTURE INVESTIGATIVE JOURNALISTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Rochester Managing Editor | 40 | $148,810 | |
Lorie Hearn CEO And Editor | Officer | 40 | $148,299 |
David Fuhriman Treasurer | OfficerTrustee | 2 | $0 |
Sandra Timmons Board Chair | OfficerTrustee | 10 | $0 |
Stacy Rosenberg Secretary | OfficerTrustee | 3 | $0 |
Mel Katz Board Vice Chair | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,098,155 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,098,155 |
| Total Program Service Revenue | $10,429 |
| Investment income | $1,219 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,492 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,112,295 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $148,500 |
| Compensation of current officers, directors, key employees. | $13,365 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,298,816 |
| Pension plan accruals and contributions | $29,226 |
| Other employee benefits | $66,212 |
| Payroll taxes | $131,054 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $33,165 |
| Fees for services: Accounting | $15,131 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $145,284 |
| Advertising and promotion | $0 |
| Office expenses | $25,201 |
| Information technology | $81,756 |
| Royalties | $0 |
| Occupancy | $2,188 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,994 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,848 |
| Insurance | $41,818 |
| All other expenses | $12,741 |
| Total functional expenses | $2,116,384 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,002 |
| Savings and temporary cash investments | $1,545,215 |
| Pledges and grants receivable | $266,164 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $28,249 |
| Net Land, buildings, and equipment | $34,719 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $28,870 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,931,219 |
| Accounts payable and accrued expenses | $82,242 |
| Grants payable | $0 |
| Deferred revenue | $25,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $107,242 |
| Net assets without donor restrictions | $1,247,933 |
| Net assets with donor restrictions | $576,044 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,931,219 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Investigative Newsource has recieved totaling $1,337,500.
| Awarding Organization | Amount |
|---|---|
American Journalism Project Inc Washington, DC PURPOSE: TO GROW AND DIVERSIFY REVENUE AND TO ADVANCE TOWARD A SUSTAINABLE MODEL FOR LOCAL NEWS. | $518,500 |
American Journalism Project Inc Washington, DC PURPOSE: TO GROW AND DIVERSIFY REVENUE AND TO ADVANCE TOWARD A SUSTAINABLE MODEL FOR LOCAL NEWS. | $518,500 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $217,500 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: ARTS AND CULTURE | $60,000 |
The Miami Foundation Inc Miami, FL PURPOSE: PROGRAM SUPPORT | $15,000 |
Institute For Nonprofit News Beverly Hills, CA PURPOSE: INN DIRECT SUPPORT - 2021 COLUMBIA INTERN GRANT | $8,000 |
Endowment Analysis
| Beg. Balance | $32,658 |
| Earnings | -$3,464 |
| Other Expense | $324 |
| Ending Balance | $28,870 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pta California Congress Of Parents Teachers & Students Inc Sacramento, CA | $9,082,198 | $3,438,208 |
Barrio Logan College Institute San Diego, CA | $2,959,151 | $2,373,413 |
Investigative Newsource San Diego, CA | $1,931,219 | $2,112,295 |
Challenge Day Oakley, CA | $817,462 | $746,583 |
Tam High Foundation Mill Valley, CA | $2,235,843 | $891,115 |
Portola Valley Schools Foundation Portola Valley, CA | $6,920,086 | $1,100,055 |
Claremont Parent-Faculty Claremont, CA | $1,059,444 | $1,226,763 |
Friends Of Willow Tree Bonsall, CA | $532,002 | $953,888 |
P R I D E Booster Club Inc Paul Revere Middle School Los Angeles, CA | $1,237,420 | $592,629 |
Canet Foundation Sherman Oaks, CA | $13,099,314 | $949,054 |
The Womens Faculty Club Of The University Of California Inc Berkeley, CA | $1,685,423 | $392,622 |
Parents Educators-Teachers & Students In Action Granada Hills, CA | $9,855 | $727,154 |