2024-11-15T16:34:18-06:00 2023-12-31 941254756 HOOD & STRONG LLP 2580 N 1ST ST STE 460 SAN JOSE CA 95131 990 2023-01-01 862022385 NATIONAL TRUST FOR LOCAL NEWS NATI 4089988400 750 W HAMPDEN AVE ENGLEWOOD CO 80110 ELIZABETH HANSEN SHAPIRO CEO 4089988400 2024-11-15 1 0 MAGA E KISRIEV P01008919 4089988400 2023 2024-10-15 13:58:12Z X ELIZABETH HANSEN SHAPIRO 750 W HAMPDEN AVE ENGLEWOOD CO 80110 46104002 0 X HTTPS://WWW.NATIONALTRUSTFORLOCALNEWS.ORG/ X 2021 CO THE NATIONAL TRUST FOR LOCAL NEWS IS DEDICATED TO REVITALIZING COMMUNITY NEWSPAPERS. 3 3 521 4 9359328 0 4138839 25596806 59243 20287233 93999 31301 0 188662 4292081 46104002 0 75000 0 0 862349 12606155 0 0 202342 963808 11751882 1826157 24433037 2465924 21670965 4772238 40664722 1545229 15791461 3227009 24873261 X THE NATIONAL TRUST FOR LOCAL NEWS IS A NON-PROFIT DEDICATED TO CONSERVING, TRANSFORMING, AND SUSTAINING COMMUNITY NEWS ORGANIZATIONS. 1 0 23587911 75000 20475895 THE NATIONAL TRUST FOR LOCAL NEWS (NTLN) OWNS AND OPERATES COMMUNITY NEWS ORGANIZATIONS IN SERVICE OF THEIR PUBLIC SERVICE MISSION. IN 2023, NTLN ESTABLISHED TWO STATE SUBSIDIARIES IN GEORGIA AND MAINE. OUR 215 JOURNALISTS REACH OVER TWO MILLION MONTHLY READERS IN DOZENS OF SMALL COMMUNITIES ACROSS COLORADO, MAINE, AND GEORGIA. NTLN'S MODEL IS RESPONSIVE TO THE NEEDS OF LOCAL COMMUNITIES, SCALABLE TO EVERY STATE, AND A UNIQUELY SUSTAINABLE WAY TO PROVIDE HIGH-QUALITY LOCAL JOURNALISM WHERE IT IS MOST AT RISK OF DISAPPEARING ALTOGETHER. 23587911 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 334 0 1 521 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 3 3 0 0 0 0 0 1 0 1 1 0 0 0 1 1 1 1 1 1 0 0 CO X KUTAK ROCK 3032972400 2001 16TH STREET SUITE 1800 DENVER CO 80202 MARC HAND BOARD CHAIR 10.00 X X 0 0 0 JOHN WOTOWICZ BOARD DIRECTOR 1.00 X 0 0 0 JU-DON MARSHALL BOARD DIRECTOR 1.00 X 0 0 0 LILLIAN RUIZ COO & CO-FOUNDER 40.00 X 0 0 0 ELIZABETH HANSEN SHAPIRO CEO 40.00 X 370540 0 0 PHILLIP R MCDUFFIE CHIEF PORTFOLIO OFFICER 40.00 X 155650 0 0 WILLIAM NELLIGAN CHIEF GROWTH OFFICER 40.00 X 162135 0 0 JENIFER F NELSON STRATEGIC PARTNERSHIP (THRU 8/7/23) 40.00 X 108712 0 0 CAROLINE PORTER DIR STRATEGIC P'SHIP & IMPACT 40.00 X 109808 0 0 CAROLINE ROSS CHIEF OF STAFF 40.00 X 188008 0 0 1094853 0 0 6 0 1 0 0 25596806 249203 25596806 PUBLICATION REVENUE 513110 18594209 9234881 9359328 PRINTING REVENUE 513110 1693024 1693024 20287233 31301 31301 OTHER REVENUE 900099 188662 188662 188662 46104002 11116567 9359328 31301 75000 75000 370540 355516 10213 4811 9494096 9109150 261680 123266 1910076 1832631 52646 24799 831443 797731 22917 10795 355847 274515 73620 7712 219318 169191 45374 4753 449970 347125 93093 9752 855751 855751 1179748 1096884 68891 13973 542748 542748 872657 872657 191101 183353 5267 2481 41557 40712 845 918430 917130 1300 107491 107491 DELIVERY 2532402 2532402 PRINTING 1694609 1694609 CONSERVATORY STARTUP 1417237 1417237 DUES & SUBSCRIPTIONS 31739 31739 341277 334339 6938 24433037 23587911 642784 202342 1773998 6065464 150279 832121 968250 6819877 1845000 1548493 0 610342 0 1314821 3338789 279985 0 3058804 26317 14294185 8394 6120615 4772238 40664722 45229 1436109 0 161695 1500000 3550000 0 10643657 1545229 15791461 X 1070301 19873261 2156708 5000000 3227009 24873261 4772238 40664722 21670965 -24713 0 X X 0 1 X 1 0 X 1406595 4138839 25596806 31142240 1406595 4138839 25596806 31142240 18373966 12768274 64336 93999 31301 189636 0 31331876 11624310 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1633875 67177 1566698 1674164 210266 1463898 30750 2542 28208 3058804 ACCRUED INCOME 4594 RIGHT OF USE LEASE ASSET 6116021 6120615 CIRC SALES TAX PAYABLE 58027 PREPAID SUBSCRIBER LIABILITY 3988441 ADVERTISING TRADE LIABILITY 79671 PREPAID ADVERTISING CUSTOMER LIABILITY 228261 OTHER CURRENT LIABILITIES 106348 ACCRUED INTEREST PAYABLE 30773 CURRENT LEASE LIABILITIES 588450 NON-CURRENT LEASE LIABILITIES 5563686 10643657 X PART X, LINE 2: NATIONAL TRUST FOR LOCAL NEWS (NTLN) IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND TITLE 39 OF THE COLORADO REVISED STATUTES. ACCORDINGLY, NO PROVISION FOR INCOME TAXES OR RELATED CREDITS IS INCLUDED IN THESE CONSOLIDATED FINANCIAL STATEMENTS. COLORADO TRUST FOR LOCAL NEWS, LLC (CTLN) IS TAXED AS A CORPORATION FOR THE YEAR ENDED DECEMBER 31, 2023 AND WILL CONVERT TO A SINGLE MEMBER LLC FOR TAX PURPOSES BEGINNING JANUARY 1, 2024. DEFERRED INCOME TAXES ARE PROVIDED FOR ACCUMULATED TEMPORARY DIFFERENCES DUE TO BASIS DIFFERENCES FOR ASSETS AND LIABILITIES FOR FINANCIAL REPORTING AND INCOME TAX PURPOSES. ALL FEDERAL AND STATE CURRENT AND DEFERRED TAX ITEMS FOR CTLN ARE CONSIDERED BY MANAGEMENT TO BE INSIGNIFICANT TO THE CONSOLIDATED FINANCIAL STATEMENTS AS A WHOLE. MAINE TRUST FOR LOCAL NEWS (METLN) IS A L3C AND GEORGIA TRUST FOR LOCAL NEWS, LLC (GTLN) ARE SINGLE MEMBER LLCS AND ARE DISREGARDED ENTITIES FOR FEDERAL INCOME TAX PURPOSES. UNDER MAINE LAW, METLN IS NOT SUBJECT TO STATE INCOME TAX. UNDER GEORGIA LAW, GTLN IS NOT SUBJECT TO STATE INCOME TAX. NTLN IS SUBJECT TO A TAX ON INCOME EARNED FROM ANY UNRELATED BUSINESS ACTIVITY. THE ORGANIZATION FILES AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990-T) WITH THE IRS AND EQUIVALENT COLORADO RETURN, TO REPORT ITS UNRELATED BUSINESS TAXABLE INCOME. NATIONAL TRUST HAS ADOPTED THE ACCOUNTING STANDARD RELATED TO UNCERTAINTIES IN INCOME TAXES. MANAGEMENT HAS CONSIDERED ITS TAX POSITIONS AND BELIEVES THAT ALL OF THE POSITIONS TAKEN BY NATIONAL TRUST IN ITS FEDERAL AND STATE TAX RETURNS ARE MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION; THEREFORE, NO LIABILITY FOR UNRECOGNIZED INCOME TAX BENEFITS HAS BEEN RECORDED AS OF DECEMBER 31, 2023. NTLN, METLN, CTLN, AND GTLN ARE SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS BACK TO INCEPTION OF EACH RESPECTIVE ENTITY. 1 COLORADO TRUST FOR LOCAL NEWS 750 W HAMPDEN AVE ENGLEWOOD CO 80110 863310521 75000 0 TELLURAY REPORTER, FOR THE ADDITIONAL REPORTING AT THE LITTLETON INDEPENDENT. BEYOND PRINT GRANT - SUPPORT A BILINGUAL NEWSLETTER IN COMMERCE CITY, COLORADO. 0 1 PART I, LINE 2: PROGRAM ACCOUNTING IS RECONCILED MONTHLY AND REVIEWED FOR APPROPRIATE EXPENDITURES. X X 0 0 0 0 0 0 0 0 0 ELIZABETH HANSEN SHAPIRO CEO 293243 0 77297 0 0 0 0 0 0 0 370540 0 0 0 CAROLINE ROSS CHIEF OF STAFF 154458 0 33550 0 0 0 0 0 0 0 188008 0 0 0 WILLIAM NELLIGAN CHIEF GROWTH OFFICER 131798 0 20330 0 10007 0 0 0 0 0 162135 0 0 0 PHILLIP R MCDUFFIE CHIEF PORTFOLIO OFFICER 112087 0 43563 0 0 0 0 0 0 0 155650 0 0 0 X 1 249203 FMV 0 0 1 0 PART I, COLUMN (B): THE COLUMN REPRESENTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART III, LINE 2 THE NATIONAL TRUST FOR LOCAL NEWS (NTLN) ESTABLISHED MAINE TRUST FOR LOCAL NEWS, L3C AND GEORGIA TRUST FOR LOCAL NEWS, LLC TO CONTINUE THE EXPANSION OF ITS COMMUNITY NEWSPAPER NETWORK IN MAINE AND GEORGIA. NTLN ALSO ESTABLISHED COMMUNITY NEWS INFRASTRUCTURE, LLC TO ALLOW FOR THE ACQUISITION OF PRINTING PRESSES AND OTHER INFRASTRUCTURE TO SUPPORT THE NEWSPAPER OPERATIONS IN COLORADO, GEORGIA AND ANY FUTURE LOCATION. FORM 990, PART VI, SECTION A, LINE 7A ONE MEMBER OF THE BOARD SHALL BE NAMED BY THE PUBLIC MEDIA VENTURE GROUP (PMVG) AS A PERMANENT SEAT ON THE BOARD. MARC HAND, A BOARD CHAIR OF THE ORGANIZATION, IS THE CEO AND FOUNDER OF PMVG. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 WAS REVIEWED BY STAFF BEFORE IT WAS SENT TO BOARD CHAIRMAN FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION MAINTAINS A BOARD-ADOPTED CONFLICT OF INTEREST POLICY THAT REQUIRES OFFICERS AND DIRECTORS TO DISCLOSE ANY TRANSACTIONS OR ARRANGEMENTS INVOLVING AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST. OFFICERS OR DIRECTORS WHO HAVE AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST MUST RECUSE THEMSELVES FROM ANY BOARD DISCUSSION OR VOTE ON SUCH PROPOSED ARRANGEMENT OR TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15A THE ORGANIZATION'S BOARD MEMBERS REVIEWED COMPENSATION BENCHMARKS BASED ON THE COMPENSATION INFORMATION FROM FORMS 990 OF ORGANIZATIONS OPERATING IN THE SAME SECTOR, AND OF COMPARABLE SIZE AND COMPLEXITY. PER THOSE BENCHMARKS, THE BOARD MEMBERS (OTHER THAN THE CEO) UNANIMOUSLY AGREED THAT THE COMPENSATION OF THE CURRENT CEO AND COO WAS REASONABLE AND APPROPRIATE FOR THEIR ROLES AND THE SIZE OF THE ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 MADE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: NO CHANGE IN THE PROCESS FROM THE PRIOR YEAR. MAINE TRUST FOR LOCAL NEWS L3C 750 W HAMPDEN AVE SUITE 225 ENGLEWOOD CO 80110 932398532 NEWSPAPER PUBLISHING ME 18822837 25702709 NATIONAL TRUST FOR LOCAL NEWS GEORGIA TRUST FOR LOCAL NEWS LLC 750 W HAMPDEN AVE SUITE 225 ENGLEWOOD CO 80110 934710374 NEWSPAPER PUBLISHING GA 2879737 3633046 NATIONAL TRUST FOR LOCAL NEWS COMMUNITY NEWS INFRASTRUCTURE LLC 750 W HAMPDEN AVE SUITE 225 ENGLEWOOD CO 80110 990556702 NEWSPAPER OPERATIONS SUPPORT CO 0 0 NATIONAL TRUST FOR LOCAL NEWS COLORADO TRUST FOR LOCAL NEWS 750 W HAMPDEN AVE ENGLEWOOD CO 80110 863310521 NEWSPAPER PUBLISHING CO NATIONAL TRUST FOR LOCAL NEWS C 4408767 1213529 1.00000 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 COLORADO TRUST FOR LOCAL NEWS DBA COLORADO COMMUNITY MEDIA D 1568493 FMV COLORADO TRUST FOR LOCAL NEWS DBA COLORADO COMMUNITY MEDIA B 75000 FMV