FREEDOM OF THE PRESS FOUNDATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2013

Legal Domicile

Principal Officer

TREVOR TIMM

Phone

5109950780

Tax Period

2023-01-01 to 2023-12-31

FREEDOM OF THE PRESS FOUNDATION, founded in 2013, is a mid-sized nonprofit in the Human Services sector that reported $16.8M in total revenue in fiscal year 2023. Revenue surged 245% from the prior year, signaling strong growth momentum. The organization ran a surplus of $11.0M, a strong 66% operating margin.

Mission

FREEDOM OF THE PRESS FOUNDATION'S MISSION IS TO PROTECT, DEFEND, AND EMPOWER PUBLIC-INTEREST JOURNALISM IN THE 21ST CENTURY. IT DOES THIS THROUGH A VARIETY OF MEANS, INCLUDING:1.) PUBLIC ADVOCACY ON ISSUES AFFECTING PRESS FREEDOM, INCLUDING GOVERNMENT TRANSPARENCY, THE RIGHT TO PUBLISH, REPORTER'S PRIVILEGE, FREEDOM OF INFORMATION ACT REFORM, THE PROSECUTION OF WHISTLEBLOWERS, AND DIGITAL SECURITY.2.) MAINTAINING AND DEVELOPING OPEN-SOURCE DIGITAL SECURITY TOOLS, LIKE SECUREDROP, OUR OPEN-SOURCE WHISTLEBLOWER SUBMISSION SYSTEM.3.) EDUCATION ON DIGITAL SECURITY TOOLS JOURNALISTS CAN USE TO COMMUNICATE WITH SOURCES, AND LEGAL RIGHTS FOR REPORTERS.4.) SYSTEMATICALLY DOCUMENT AND CATALOGUE PRESS FREEDOM VIOLATIONS IN THE UNITED STATES.5.) LEGAL ADVOCACY FOR TRANSPARENCY THROUGH FOIA REQUESTS, AMICUS BRIEFS, AND OTHER AVENUES IN COURT.

Program Service Accomplishments

Program 1

Expenses: $2,561,985

FREEDOM OF THE PRESS FOUNDATION PROTECTS, DEFENDS, AND EMPOWERS PUBLIC-INTEREST JOURNALISM IN THE 21ST CENTURY. ITS LARGEST PROJECT, SECUREDROP, IS AN OPEN-SOURCE WHISTLEBLOWER SUBMISSION SYSTEM...

FREEDOM OF THE PRESS FOUNDATION PROTECTS, DEFENDS, AND EMPOWERS PUBLIC-INTEREST JOURNALISM IN THE 21ST CENTURY. ITS LARGEST PROJECT, SECUREDROP, IS AN OPEN-SOURCE WHISTLEBLOWER SUBMISSION SYSTEM. FREEDOM OF THE PRESS FOUNDATION DEVELOPS, MAINTAINS, AND HELPS NEWS ORGANIZATIONS INSTALL THE SOFTWARE. SECUREDROP COMBINES A VARIETY OF OPEN-SOURCE SECURE COMMUNICATIONS TOOLS AND PRACTICES INTO ONE EASIER-TO-USE PACKAGE THAT ALLOWS JOURNALISTS AND SOURCES TO COMMUNICATE SAFELY AND SECURELY ONLINE. SECUREDROP IS CURRENTLY USED AT OVER 60 MAJOR NEWS ORGANIZATIONS WORLDWIDE, INCLUDING THE NEW YORK TIMES, WASHINGTON POST, CNN, THE GUARDIAN, THE ECONOMIST, AND THE INTERCEPT.

Program 2

Expenses: $1,355,604 Revenue: $83,533

FREEDOM OF THE PRESS FOUNDATION OPERATES THE US PRESS FREEDOM TRACKER, A NEWS SITE AND DATABASE THAT ATTEMPTS TO COMPREHENSIVELY DOCUMENT VIRTUALLY EVERY PRESS FREEDOM VIOLATION IN THE UNITED STATES, INCLUDING THE NUMBER OF JOURNALISTS ARRESTED, STOPPED AT THE BORDER, SUBPOENAED, PHYSICALLY ATTACKED, SURVEILLED, AND MORE. IN ADDITION TO ITS REPORTING AND DOCUMENTATION NETWORK, FPF ADVOCATES FOR ROBUST PRESS FREEDOM RIGHTS ON A VARIETY OF ISSUES INCLUDING REPORTER'S PRIVILEGE, THE RIGHT TO PUBLISH, THE FREEDOM OF INFORMATION ACT, THE PROTECTION OF WHISTLEBLOWERS, AND GOVERNMENT TRANSPARENCY.

Program 3

Expenses: $631,102 Revenue: $88,333

DIGITAL SECURITY - PROTECTING THE COMMUNICATIONS BETWEEN JOURNALISTS AND SOURCES IS ONE OF THE MOST IMPORTANT PRESS FREEDOM ISSUES OF THE 21ST CENTURY. A RECORD NUMBER OF WHISTLEBLOWERS HAVE RECENTLY BEEN PROSECUTED IN LARGE PART BECAUSE THE GOVERNMENT THINKS IT CAN OBTAIN THE EMAIL AND PHONE CALL RECORDS OF ANY INTERACTION, AND AN INCREASING NUMBER OF JOURNALISTS ARE VULNERABLE TO HACKING FROM CRIMINALS AND FOREIGN GOVERNMENTS. TO END THAT, FREEDOM OF THE PRESS FOUNDATION EVALUATES AND PROVIDES GUIDES FOR A VARIETY OF DIGITAL SECURITY TOOLS FOR JOURNALISTS THAT AIM AT PROTECTING THESE DIGITAL COMMUNICATIONS. WE ALSO TRAIN JOURNALISTS AND NEWS ORGANIZATIONS IN HOW TO USE OPEN-SOURCE DIGITAL SECURITY TOOLS, SO THEY CAN KEEP THEIR SOURCES--AND THEMSELVES--SAFER.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $16,431,562

Program Service Revenue $170,629

Investment Income $197,095

Other Revenue $1,237

TOTAL REVENUE $16,800,523

Expense Breakdown

Grants Paid $100,000

Salaries & Benefits $4,013,572

Fundraising Expenses $537,894

Program Expenses $4,548,691

Other Expenses $1,662,816

TOTAL EXPENSES $5,776,388

Year-over-Year Comparison

	2023	2022	Change
Revenue	$16,800,523	$4,871,410	+2.4%
Expenses	$5,776,388	$4,896,292	+0.2%
Net Income	$11,024,135	$-24,882	-444.1%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$406,246

Total Directors

$287,337

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TREVOR TIMM	ED/BOARD MEMBER	50.00	Officer Director	$246,090	$41,247	$287,337
RAINEY REITMAN	PRESIDENT	2.00	Officer Director	$0	$0	$0
EDWARD SNOWDEN	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN CUSACK	BOARD MEMBER	1.00	Director	$0	$0	$0
DANIEL ELLSBERG	BOARD MEMBER (UNTIL 5/2023)	1.00	Director	$0	$0	$0
WESLEY LOWERY	BOARD MEMBER	1.00	Director	$0	$0	$0
LAURA POITRAS	BOARD MEMBER	1.00	Director	$0	$0	$0
AZMAT KHAN	BOARD MEMBER	1.00	Director	$0	$0	$0
KATIE DRUMMOND	BOARD MEMBER (AS OF 12/2023)	1.00	Director	$0	$0	$0
SOPHIE HAGEN	BOARD SECRETARY/RESEARCH REPORTER	40.00	Officer	$92,500	$26,409	$118,909
LOUISE BLACK	VICE PRESIDENT OF DEV. & OPS.	40.00	Highest	$166,346	$44,148	$210,494
ERIK MOELLER	VICE PRESIDENT OF ENGINEERING	40.00	Highest	$173,290	$17,177	$190,467
HARLO HOLMES	CHIEF INFORMATION SECURITY OFFICER	40.00	Highest	$162,110	$28,682	$190,792
KIRSTIN MCCUDDEN	VICE PRESIDENT OF EDITORIAL	40.00	Highest	$162,110	$17,015	$179,125
SETH STERN	DIRECTOR OF ADVOCACY	40.00	Highest	$140,500	$29,493	$169,993

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$16,800,523	$5,776,388	$23,221,014	$11,024,135
2022	$4,871,410	$4,896,292	$11,712,615	$-24,882
2021	$11,573,560	$3,799,281	$12,319,058	$7,774,279
2021	$11,573,560	$3,799,281	$12,319,058	$7,774,279
2020	$4,756,840	$3,535,817	$4,838,557	$1,221,023
2019	$2,705,458	$4,158,131	$2,929,473	$-1,452,673
2018	$3,006,613	$3,213,184	$4,622,452	$-206,571