Our impact
We measure impact by evaluating how effectively our investments support newsrooms as they grow, achieve sustainability, and deepen their community impact.
Healthy communities depend on strong local news — when local newsrooms earn trust and expand access to reliable information, communities are better equipped to participate, problem-solve, and thrive.
$160M
in revenue generated by our grantee portfolio in 2025 beyond our investments
17%
year over year growth in median portfolio organization revenue beyond our investments
843
full-time newsroom staff employed by our grantee portfolio in 2025, a 21% increase over 2024
Across the portfolio
These are just a few real stories from newsrooms across our portfolio, demonstrating the tangible impact of sustained investment in local journalism.
How we think about impact
We measure the impact of our work around three key questions. This framework helps us track progress and identify insights that improve our support across the portfolio.
Can the newsrooms we support raise catalytic funding and grow sustainable revenue?
Can they build strong organizations with the talent, culture, and systems that endure?
Can they meet local information needs and strengthen communities?
2025 Impact Report
To view the report in full screen mode, click on the icon with four arrows below. To view a PDF version of the report, click here.
A year of growth: Advancing local news across America
Through six years of strategic investment, we’ve supported newsrooms that are expanding coverage, building community trust, and creating sustainable business models. The results demonstrate that with the right support, local news organizations can deliver essential journalism that responds to community needs.
Growth endures beyond our three-year investments
The 25 organizations that completed our first three-year investment cycle continue to thrive. Comparing their pre-grant baseline revenues to revenues at the end of 2024, these organizations grew their revenue by $46 million in aggregate, and employed 226 more journalists collectively. This group’s median revenue, net of American Journalism Project support, rose from $1.2 million to $2.7 million. Rather than plateauing after our investment period, these organizations have sustained and accelerated their growth.
Our portfolio revenue continues steady overall growth
From 2023 to 2024, organizations in our portfolio collectively grew their revenue by $19 million or 22 percent. The additional investments we made in 2024 brought our portfolio’s total revenue to $128 million.This broad-based growth wasn’t driven by outliers—86% of organizations increased their revenue year over year. The trajectory validates our investment thesis: through strategic capital and tailored support, we can build organizations that are sustainably larger and stronger, creating a replicable path toward rebuilding local news across the country.
Revenue diversification delivers results
Our push for diversified revenue is building resilience across our portfolio. In 2024, organizations grew revenue across four core categories while reducing their reliance on foundation support from 68% to 64%. For newer organizations (less than 5 years old), institutional philanthropy makes up nearly 80% of revenue as they build their operations. As organizations mature into their second decade, foundation support drops by almost 18 percentage points. Our work accelerates this transition, helping organizations achieve diversified revenue in a shorter time span.