Tampa Bay Times owner, Poynter lost $3.8 million in 2011
TAMPA - The nonprofit foundation that owns the Tampa Bay Times lost $3.8 million in 2011, a dramatic change from the year before when the organization lost a little more than $100,000. The financial results were posted online this week as part of the 2011 tax filings by The Poynter Institute for Media Studies Inc., which owns the Times and runs a journalism education and research facility in St. Petersburg. Such tax forms from nonprofit organizations often have a lag time between preparation and availability to the public. The most dramatic reversal in Poynter's finances is reflected in the financial support the Times had provided Poynter for years. In the tax filing, the entry reflecting that support fell from $4.5 million in 2010 to $989,828 in 2011."That did not come as a surprise to us, and we are adjusting," Poynter President Karen Dunlap said Thursday. "It actually felt like a good year because we have a lot of good things we're working on." Poynter recently recruited a new fundraising chief to help raise donations on its own as officials last year said support from the newspaper was no longer "viable." To help raise cash, Poynter put several empty land plots up for sale around its campus, but Dunlap said there are no contracts in place for sales. She declined to say what the 2012 tax filing might show.
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