2023-11-15T16:28:14-06:00 2022-12-31 202153727 SB & COMPANY LLC 10200 GRAND CENTRAL AVE SUITE 250 OWINGS MILLS MD 21117 990 2022-01-01 861715499 THE VENETOULIS INSTITUTE FOR LOCAL JOURNALISM VENE 4102468000 621 EAST PRATT STREET 401 BALTIMORE MD 21202 MICHAEL KATZ TREASURER 4102468000 2023-11-15 1 MICHAEL KATZ 999009999 1 MONIQUE BOOKER P00644231 4105840060 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z THE BALTIMORE BANNER MICHAEL KATZ 621 EAST PRATT STREET 401 BALTIMORE MD 21202 17431025 0 X THEBALTIMOREBANNER.COM X 2021 DE OUR MISSION IS TO BE AN INDISPENSABLE RESOURCE THAT STRENGTHENS, UNITES, AND INSPIRES OUR BALTIMORE COMMUNITY. WE WILL ACCOMPLISH THIS THROUGH TRUSTWORTHY, QUALITY JOURNALISM THAT TELLS THE VARIED STORIES OF OUR PEOPLE, HOLDS OUR LEADERS ACCOUNTABLE, AND DELIVERS LOCAL NEWS THAT READERS ARE WILLING TO SUPPORT. 10 8 108 0 216334 0 24186214 16526520 0 764319 9078 140186 0 0 24195292 17431025 0 0 0 0 1176672 9752556 0 0 737127 3280732 7555029 4457404 17307585 19737888 123440 20573717 23964840 835829 4536524 19737888 19428316 X OUR MISSION IS TO BE AN INDISPENSABLE RESOURCE THAT STRENGTHENS, UNITES, AND INSPIRES OUR BALTIMORE COMMUNITY. WE WILL ACCOMPLISH THIS THROUGH TRUSTWORTHY, QUALITY JOURNALISM THAT TELLS THE VARIED STORIES OF OUR PEOPLE, HOLDS OUR LEADERS ACCOUNTABLE, AND DELIVERS LOCAL NEWS THAT READERS ARE WILLING TO SUPPORT. 0 0 12505945 741890 IN 2022, THE VENETOULIS INSTITUTE LAUNCHED THE BALTIMORE BANNER, OUR FLAGSHIP DIGITAL NEWS PRODUCT. IN PREPARATION FOR THIS LAUNCH, EXPENSES CENTERED ON GROWING HEADCOUNT IN OUR NEWSROOM, PRODUCT, AND BUSINESS FUNCTIONS TO ENSURE APPROPRIATE SCALE AND INFRASTRUCTURE TO SUPPORT OUR ORGANIZATION. THIS INCLUDED THE ADDITIONS OF REPORTERS AND EDITORS TO OUR NEWSROOM, AND DATA, FINANCE, PRODUCT, AND MARKETING STAFF TO OUR NON-NEWSROOM FUNCTIONS, RESULTING IN A 2022 YEAR-END HEADCOUNT OF 89. ADDITIONALLY, VLIJ INVESTED $622K IN CAPEX TO SUPPORT TECHNOLOGY INFRASTRUCTURE, GIVING US THE OPPORTUNITY TO IMPROVE USER EXPERIENCE AND INCREASE DATA-DRIVEN DECISION MAKING WITHIN THE ORGANIZATION. INVESTMENTS IN THE BALTIMORE BANNER APP AND WEBSITE INFRASTRUCTURE ENSURE THAT OUR NEWS COVERAGE CAN BE EASILY ACCESSED BY OUR AUDIENCES AND PROVIDE A POSITIVE USER EXPERIENCE THAT BUILDS THE FOUNDATION FOR SUBSCRIBER GROWTH. ADDITIONALLY, ENHANCED DATA INFRASTRUCTURE ENABLES US TO UNDERSTAND THE PREFERENCES AND BEHAVIORS OF OUR READERS, ENABLING US TO MAKE DATA-DRIVEN DECISIONS REGARDING CONTENT AND PRIORITIZE INVESTMENTS WITHIN OUR ORGANIZATION.IN ADDITION TO THE GROWTH OF VILJ STAFF, INVESTMENTS IN FREELANCE, CONTRACT, AND CONSULTING SUPPORT ENABLED US TO LAUNCH AND BUILD OUR ORGANIZATION. BY ENGAGING FREELANCE JOURNALISTS, WE EXPANDED WRITTEN AND PHOTO COVERAGE IN THE COMMUNITIES WE SERVE AS WE WORKED TO GROW OUR PERMANENT NEWSROOM PRESENCE. ADDITIONALLY, WE UTILIZED CONTRACTORS AND CONSULTANTS TO PROVIDE EXPERTISE AND SUPPORT FOR OUR IT, PRODUCT, FINANCE, ANALYTICS AND ENGINEERING FUNCTIONS. SINCE THE 2022 LAUNCH OF THE THE BALTIMORE BANNER AS A NONPROFIT, INDEPENDENT LOCAL NEWS SITE, WE CONTINUE TO STRIVE TO BECOME AN INTEGRAL AND VITAL PART OF THE COMMUNITIES THAT WE SERVE ACROSS BALTIMORE AND MARYLAND. AS ONE OF THE LARGEST AND MOST DIVERSE NEWSROOMS IN THE STATE, OUR TEAM OF JOURNALISTS WORKS TIRELESSLY TO COVER THE IMPORTANT ISSUES THAT MOST DIRECTLY IMPACT NEIGHBORHOODS ACROSS OUR CITY AND STATE TO HELP STRENGTHEN, UNITE AND INSPIRE OUR COMMUNITIES; INVESTMENTS IN OUR STAFF, INFRASTRUCTURE, AND FREELANCE AND CONTRACTORS HAVE HELPED TO ENABLE THESE EFFORTS. 12505945 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 83 0 108 1 1 1 0 0 0 0 0 0 0 0 0 X 10 8 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 1 0 MD X MICHAEL KATZ 4102468000 621 EAST PRATT STREET 401 BALTIMORE MD 21202 BRIAN MCGRORY DIRECTOR 1.00 X 0 0 0 CHRISTINE A SHREVE CORPORATE TREASURER 7.00 X X 0 0 0 IMTIAZ PATEL PRESIDENT 40.00 X X 625000 0 12200 JANET CURRIE DIRECTOR 1.00 X 0 0 0 JEDD GOULD DIRECTOR 1.00 X 0 0 0 JOSH TYRANGIEL DIRECTOR 1.00 X 0 0 0 SANDY BAINUM DIRECTOR 1.00 X 0 0 0 SHANAYSHA SAULS DIRECTOR 1.00 X 0 0 0 STEWART BAINUM JR CHAIRMAN 1.00 X X 0 0 0 SUZI WATFORD DIRECTOR 1.00 X 0 0 0 WILLIAM JEWS CORPORATE SECRETARY 1.00 X X 0 0 0 KIMI YOSHINO EDITIOR IN CHIEF 40.00 X 375800 0 9692 ANDRE JONES HEAD OF PEOPLE, CULTURE AND DIVERSITY 40.00 X 180000 0 3323 KLAS UDEN CHIEF MARKETING OFFICER 40.00 X 325889 0 12200 MICHAEL KATZ HEAD OF FINANCE 40.00 X 233138 0 8041 WILLIAM WARREN CHIEF PHILANTHROPY OFFICER 40.00 X 221154 0 288 ANDREA MCDANIELS MANAGING DIRECTOR 40.00 X 209615 0 5754 LAWRENCE BURNEY ARTS & CULTURE EDITOR 40.00 X 120577 0 0 MICHAEL SCHMITT DIRECTOR CUSTOMER ENGAGEMENT 40.00 X 141923 0 4092 RICHARED MARTIN DEPUTY MANAGING DIRECTOR 40.00 X 160558 0 4747 SARAH FEATHERSTONE PROGRAM DIRECTOR 40.00 X 126923 0 2665 EARL COKLEY CHIEF TECHNOLOGY OFFICER 40.00 X 205123 0 1354 HYUK LEE CHIEF INSIGHTS OFFICER 40.00 X 184790 0 0 SHAMEEL ARAFIN CHIEF PRODUCT OFFICER 40.00 X 333572 0 6852 3444062 0 71208 14 1 1 0 0 16526520 16526520 SUBSCRIPTIONS 513110 525452 525452 ADVERTISING 513110 216334 216334 PROGRAM 513110 22429 22429 OTHER FEES AND CHARGES 513110 104 104 764319 140186 140186 17431025 547985 216334 140186 X 3443702 2767015 476264 200423 5732875 4475421 933042 324412 575979 462799 79658 33522 162880 130874 22526 9480 104160 83693 14405 6062 177525 142641 24552 10332 3630751 1359345 2241053 30353 935755 758905 122838 54012 142541 114532 19712 8297 161583 129831 22344 9408 19723 15847 2728 1148 405516 325831 56080 23605 22098 17755 3056 1287 MARKETING AND PUBLIC RE 1607808 1577465 15992 14351 TRAINING AND DEVELOPMEN 93513 75137 12931 5445 TAXES, LICENSES, AND FE 55056 44237 7613 3206 DUES AND SUBSCRIPTIONS 24589 19757 3400 1432 11531 4860 6319 352 17307585 12505945 4064513 737127 131251 1573109 84566 131428 3789 229375 3665819 394431 170566 3271388 20258996 18599974 9115 75000 20573717 23964840 835829 2155925 0 682941 0 1697658 835829 4536524 X 19737888 19048750 0 379566 19737888 19428316 20573717 23964840 123440 -417986 -15026 0 X 0 1 X 1 0 X 5843 2418214 2424057 5843 2418214 2424057 0 0 0 2424057 9078 -5948 3130 9078 -5948 3130 14921 2412266 2427187 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 44562 1175 43387 438333 92847 345486 3182924 300409 2882515 3271388 LEASE LIABILITY 1697658 1697658 X 17013039 -417986 -417986 17431025 0 17431025 17307585 0 17307585 0 17307585 PART X, LINE 2: VILJ IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. VILJ HAS ALSO BEEN CLASSIFIED AS AN ENTITY THAT IS NOT A PRIVATE FOUNDATION WITHIN THE MEANING OF SECTION 509(A)(1). INCOME WHICH IS NOT RELATED TO EXEMPT PURPOSES, LESS APPLICABLE DEDUCTIONS, IS SUBJECT TO FEDERAL AND STATE CORPORATE INCOME TAXES. VILJ HAD NO NET UNRELATED BUSINESS INCOME FOR THE PERIOD ENDED DECEMBER 31, 2022. THE PROVISIONS INCLUDED IN ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA PROVIDE CONSISTENT GUIDANCE FOR THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS AND PRESCRIBE A THRESHOLD OF "MORE LIKELY THAN NOT" FOR RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. VILJ PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2022, AND DETERMINED THAT THERE WERE NO MATTERS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS OR, WHICH MAY HAVE ANY EFFECT ON ITS TAX-EXEMPT STATUS. AS OF DECEMBER 31, 2022, THE STATUTE OF LIMITATIONS FOR TAX YEAR 2022 REMAINS OPEN WITH THE U.S. FEDERAL JURISDICTION OR THE VARIOUS STATES AND LOCAL JURISDICTIONS IN WHICH VILJ FILES TAX RETURNS. IT IS VILJ'S POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, IN INCOME TAX EXPENSE. X X 1 0 0 0 0 0 0 0 0 IMTIAZ PATEL PRESIDENT 500000 0 125000 0 0 0 0 0 12200 0 637200 0 0 0 KIMI YOSHINO EDITIOR IN CHIEF 350000 0 25800 0 0 0 0 0 9692 0 385492 0 0 0 SHAMEEL ARAFIN CHIEF PRODUCT OFFICER 216369 0 29300 0 87903 0 0 0 6852 0 340424 0 0 0 KLAS UDEN CHIEF MARKETING OFFICER 291154 0 34735 0 0 0 0 0 12200 0 338089 0 0 0 MICHAEL KATZ HEAD OF FINANCE 190000 0 43138 0 0 0 0 0 8041 0 241179 0 0 0 WILLIAM WARREN CHIEF PHILANTHROPY OFFICER 221154 0 0 0 0 0 0 0 288 0 221442 0 0 0 ANDREA MCDANIELS MANAGING DIRECTOR 194615 0 15000 0 0 0 0 0 5754 0 215369 0 0 0 EARL COKLEY CHIEF TECHNOLOGY OFFICER 64615 0 40506 0 100002 0 0 0 1354 0 206477 0 0 0 HYUK LEE CHIEF INSIGHTS OFFICER 138461 0 46329 0 0 0 0 0 0 0 184790 0 0 0 ANDRE JONES HEAD OF PEOPLE, CULTURE AND DIVERSIT 180000 0 0 0 0 0 0 0 3323 0 183323 0 0 0 RICHARED MARTIN DEPUTY MANAGING DIRECTOR 160558 0 0 0 0 0 0 0 4747 0 165305 0 0 0 REALTY INVESTMENT CO 35% OF ENTITY OWNED BY A DIRECTOR AND OFFICER (STEWART BAINUM, JR) 253888 ACCOUNTING / TAX 0 REALTY INVESTMENT CO TREASURER (CHRISTINE SHREVE) IS AN EMPLOYEE OF ENTITY. ACCOUNTING / TAX 0 FORM 990, PART VI, SECTION A, LINE 2 STEWART BAINUM, JR HAS BUSINESS RELATIONSHIPS WITH WILLIAM JEWS AND CHRISTINE SHREVE. FORM 990, PART VI, SECTION B, LINE 11B THE HEAD OF FINANCE, CONTROLLER, AND TREASURER REVIEW THE RETURN WITH THE TAX PREPARER AND THEN A COPY OF THE FORM 990 IS MADE AVAILABLE TO THE FULL GOVERNING BODY PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C VILJ ENACTED A CONFLICT OF INTEREST POLICY AT INCEPTION AND CIRCULATED IT TO ALL DIRECTORS. DIRECTORS ARE ASKED TO DISCLOSE ANNUALLY. DURING 2022, VILJ WILL EXPAND ITS CONFLICT REPORTING TO ALL OFFICERS AND KEY EMPLOYEES. FORM 990, PART VI, SECTION B, LINE 15 VILJ ACCUMULATED COMPENSATION DATA FROM NUMEROUS SOURCES INCLUDING NATIONAL EXECUTIVE SEARCH FIRMS FAMILIAR WITH THE INDUSTRY TO EVALUATE AND DETERMINE THE COMPENSATION OF THE KEY OFFICERS. DATA WAS PRESENTED TO THE BOARD FOR APPROVAL OF OFFICER COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 VILJ MAKES THE ORGANIZATIONAL AND GOVERNING DOCUMENTS AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER: PROGRAM SERVICE EXPENSES 1,359,345. MANAGEMENT AND GENERAL EXPENSES 2,241,053. FUNDRAISING EXPENSES 30,353. TOTAL EXPENSES 3,630,751.