Poynter’s current annual budget includes revenue streams from tuition payments from the classes it offers, as well as grants from foundations and local fund-raising drives. A periodic “dividend” from the [Tampa Bay] Times normally helps close the gap.
“[I]t would appear that periodic dividend from the Times did not materialize” in 2011, Schorsch writes.
“That did not come as a surprise to us, and we are adjusting,” Poynter President Karen Dunlap told the Tampa Tribune.
Here’s a copy of Poynter’s 2011 Form 990. It includes a list of people I expect to take me to dinner next time I visit Florida. Poynter had $45,691,691 in net assets at the end of 2011, including $34,007,022 in publicly traded and other securities. Poynter has owned the Tampa Bay Times since 1975, when Nelson Poynter set up the Institute with the goal that the newspaper would remain independent. Poynter died in 1978.
Poynter is trying to lease space in its building and sell land it owns, Mark Holan reports in the Tampa Bay Business Journal. The land is one of the sites the University of South Florida is considering for its business school.
Commercial real estate and media sources have speculated that Poynter eventually could end up relocating to the Times’ headquarters building, 409 First Ave. S., which also has been leasing space, notably to C1 Bank.
“I hear that chatter, too,” Poynter President Karen B. Dunlap said late Wednesday. “But let me say there are no plans to do that.”