Free Press

What it reported doing in 2025

Future of the internet and media: continued efforts to ensure the federal communications commission protects people from internet service providers' privacy invasions, promote broadband competition and deployment, and ensure consumer protections. Continued to document and oppose media consolidation and efforts to limit media-ownership opportunities for women and people of color. Filed comments in the fcc's quadrennial regulatory review that called on the agency to reject local media consolidation and debunked broadcasters' claims that consolidation is in the public interest, showing that communities have always suffered whenever the fcc has loosened local ownership limits. Underscored how mergers of massive media companies lead to higher prices, job losses, fewer choices, less opportunity and diversity in major sectors of the economy. Issued a report evaluating the independence of the 35 largest media conglomerates in the united states and documenting a pervasive trend of capitulating to political pressure that involves nearly all major commercial media, including cable and telecommunications firms and online platforms. Teamed up with a coalition of media-justice groups and labor unions to file a formal fcc petition to deny the nexstar-tegna merger noting that the combined company would reach over 80 percent of u.s. Households, far exceeding the legal limit congress set. Provided support to the committee for the first amendment at a gathering of actors, producers, directors and writers to show how corporate mega-mergers and media consolidation harm the entertainment industry and society at large. Protested attacks on government funding of public media and promoted the idea that a vibrant, independent public-media system is essential to a healthy democracy.

Financial Efficiency

• Mission deployment rate: 86.9%; rating input score 87
• Program expense ratio: 86.8%; rating input score 87
• Fundraising efficiency: $11.55 raised per $1 spent on fundraising; rating input score 39; 39th percentile among comparable filings

Transparency & Controls

• Consistency checks: 93.8%; rating input score 94; 21st percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 72.6%; rating input score 73; 30th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 83.3%; rating input score 83; 20th percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 0.5%; rating input score 27; 27th percentile among comparable filings
• Total-asset coverage ratio: 1.29; rating input score 42; 42nd percentile among comparable filings
• Liabilities to assets ratio: 0.06; rating input score 55; 55th percentile among comparable filings
• Officer compensation ratio: 16.2%; rating input score 21; 21st percentile among comparable filings

Growth

• Program expense growth: 12.1% per year; rating input score 100; 67th percentile among comparable filings
• Revenue growth: 11% per year; rating input score 100; 69th percentile among comparable filings
• Asset growth: 13.6% per year; rating input score 100; 71st percentile among comparable filings