The Poynter Institute – the Florida-based journalism institution “dedicated to teaching and inspiring journalists and media leaders” – is suffering from a lack of cash, the Tampa Tribune reported on Saturday.
Poynter’s finances have been hit by a double whammy, the article suggests. Up until now, the Institute has been partially funded by dividends from the Tampa Bay Times, a for-profit paper that it owns. Now, however, due to sinking revenues in the news industry, Poynter says this model of funding is “no longer viable by itself.”
Secondly, the Tampa Tribune writes that, due to the same financial problems, Poynter has been making less money from its training programs. “Fewer news organizations can afford to send staff to Poynter for classes — eroding the tuition base,” states the article.
To counter these losses, Poynter is looking to massively boost the amount money that it receives from philanthropy. The Institute posted an advert last April for a new President of the Poynter Foundation, an entity created by the Poynter Institite in March to “identify and develop new resources.” The future president is expected to “create, design and implement a comprehensive development plan that will increase, diversify and sustain philanthropic giving.”