STATES NEWSROOM (EIN 842113822) - Form 990 Financial Analysis & Trantor Score

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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

2019

Legal Domicile

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 BELIEVES THAT HIGH-QUALITY REPORTING ON THE CRUCIAL ISSUES OF OUR TIME IS ESSENTIAL TO THE HEALTH OF OUR DEMOCRACY. STATES NEWSROOM JOURNALISTS ARE COMMITTED TO CENTERING REAL PEOPLE IN PUBLIC POLICY DEBATES.

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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 $16,987,264

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

Governance

Voting Members

Independent Members

Employees

256

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

$252,302

Total Directors

$252,302

Key Employees

Highest Compensated

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

STATES NEWSROOM