STATES NEWSROOM

EIN: 842113822 501(c)(3) Arts, Culture & Humanities

CHAPEL HILL, NC

Total Revenue
$17,087,945
Total Expenses
$25,370,322
Total Assets
$12,605,033
Net Assets
$10,039,686
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2019
Legal Domicile
DC
Principal Officer
CHRISTOPHER FITZSIMON
Phone
9198697788
Tax Period
2023-01-01 to 2023-12-31

STATES NEWSROOM, founded in 2019, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $17.1M in total revenue in fiscal year 2023. Revenue fell 27% from the prior year — a significant decline worth monitoring. Expenses of $25.4M exceeded revenue, resulting in a 48% operating deficit.

Mission

STATES NEWSROOM IS THE NATION'S LARGEST STATE-FOCUSED NONPROFIT NEWS ORGANIZATION, WITH REPORTING FROM EVERY CAPITAL. EVERY NEWSROOM IS LED BY A VETERAN LOCAL JOURNALIST WITH DEEP KNOWLEDGE OF THE STATE'S POLITICAL HISTORY AND MEDIA LANDSCAPE WHO OVERSEES A STAFF OF EXPERIENCED CAPITAL REPORTERS. THE WASHINGTON DC BUREAU REPORTS ON CONGRESSIONAL DELEGATES AND KEY SUPREME COURT AND ADMINISTRATIVE DECISIONS THAT AFFECT THE STATES. STATES NEWSROOM BELIEVES THAT NO MATTER WHO YOU ARE OR WHERE YOU LIVE, YOU NEED ACCESS TO HIGH-QUALITY, NON-PARTISAN REPORTING ON THE CRUCIAL ISSUES OF OUR TIME. STATES NEWSROOM PROVIDES LEADING REPORTERS AND EDITORS WITH THE RESOURCES THEY NEED TO COVER THEIR COMMUNITIES.

Program Service Accomplishments

Program 1
Expenses: $21,251,234 Revenue: $0

STATES NEWSROOM IS THE NATION'S LARGEST STATE-FOCUSED NONPROFIT NEWS ORGANIZATION, WITH REPORTING FROM EVERY CAPITAL. STATES NEWSROOM JOURNALISTS SHINE A LIGHT ON POLICY AND POLITICS IN STATE...

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STATES NEWSROOM IS THE NATION'S LARGEST STATE-FOCUSED NONPROFIT NEWS ORGANIZATION, WITH REPORTING FROM EVERY CAPITAL. STATES NEWSROOM JOURNALISTS SHINE A LIGHT ON POLICY AND POLITICS IN STATE CAPITALS AROUND THE NATION AND PROVIDE THAT COVERAGE FOR FREE; NO POP-UPS, PAYWALLS OR ADS. STATES NEWSROOM HAS LAUNCHED THIRTY-NINE STATE NEWSROOMS, PLUS A BUREAU IN WASHINGTON, DC, AND PARTNERED WITH ELEVEN NONPROFIT NEWS OUTLETS IN ORDER TO COVER ALL FIFTY STATES. STATES NEWSROOM'S WEBSITES RECEIVE OVER 150 MILLION ANNUAL PAGE VIEWS COMBINED, AND THEIR CONTENT IS FREQUENTLY REPRINTED AND CITED IN MAINSTREAM PUBLICATIONS.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $16,987,264
Program Service Revenue $0
Investment Income $0
Other Revenue $100,681
TOTAL REVENUE $17,087,945

Expense Breakdown

Grants Paid $0
Salaries & Benefits $20,199,734
Fundraising Expenses $58,805
Program Expenses $21,251,234
Other Expenses $5,170,588
TOTAL EXPENSES $25,370,322

Year-over-Year Comparison

2023 2022 Change
Revenue $17,087,945 $23,399,713 -0.3%
Expenses $25,370,322 $18,734,586 +0.4%
Net Income $-8,282,377 $4,665,127 -2.8%
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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Governance

Voting Members
6
Independent Members
5
Employees
256
Volunteers
5

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
2
$252,302
Total Directors
6
$252,302
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHRISTOPHER FITZSIMON PRESIDENT & DIRECTOR 40.00
Officer Director
$231,843 $20,459 $252,302
ADAM SEARING TREASURER & DIRECTOR 1.00
Officer Director
$0 $0 $0
KATHY BEST DIRECTOR 1.00
Director
$0 $0 $0
JARVIS DEBERRY DIRECTOR 1.00
Director
$0 $0 $0
DAVID HUDSON DIRECTOR 1.00
Director
$0 $0 $0
CYNTHIA JANOVY DIRECTOR 1.00
Director
$0 $0 $0
ANDREA VERYKOUKIS NEWSROOM DEPUTY DIRECTOR 40.00
Highest
$132,424 $36,372 $168,796
DARRELL EHRLICK MT EDITOR IN CHIEF 40.00
Highest
$118,581 $30,155 $148,736
SCOTT GREENBERGER STATELINE EXECUTIVE EDITOR 40.00
Highest
$122,390 $25,319 $147,709
BREANNE PORTER OPERATIONS DIRECTOR 40.00
Highest
$119,640 $26,800 $146,440
JANE NORMAN DC BUREAU CHIEF 40.00
Highest
$130,290 $8,707 $138,997
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 $17,087,945 $25,370,322 $12,605,033 $-8,282,377
2022 $23,399,713 $18,734,586 $20,477,632 $4,665,127
2021 $21,635,211 $13,180,253 $13,800,464 $8,454,958
2020 $9,976,227 $9,679,997 $5,387,023 $296,230
2019 $6,982,113 $2,076,364 $5,371,684 $4,905,749
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