Pro Publica Inc

What it reported doing in 2025

In 2025, propublica produced deep-dive investigative reporting in the public interest across critical beats, including democracy and government oversight, voting and elections, healthcare, climate change and the environment, immigration, education, housing, racial justice, children and families and criminal justice. Our investigations uncovered abuses of power and systemic failures and led to meaningful impact - including the passage of new laws, reversals of harmful policies and practices, and accountability for leaders and institutions. [see continuation on schedule o]propublica was awarded the 2025 pulitzer prize for public service for the series "life of the mother," a landmark investigation into the unexamined, irreversible consequences of state abortion bans. The reporting made clear, for the first time, that in the wake of these bans, women are losing their lives in ways that experts have deemed preventable. The series brought national attention to women denied care, leading to real change: Texas passed a bipartisan law to clarify when doctors can legally terminate a pregnancy to protect the life of the patient.we continued to make progress on our five-year strategic plan, which focuses on expanding our national reporting; bolstering the local news ecosystem; and continuing to innovate our storytelling and engage broad and diverse audiences to double our readership and increase the likelihood of impact.through our network of regional hubs staffed with local journalists and our local reporting network that supports local newsrooms, we continue to strengthen local accountability reporting and news ecosystems nationwide by publishing investigative reporting that communities can use to hold their local leaders and institutions to account. From our newly launched Washington, d.c. Bureau, we documented the federal policies and practices being changed, agencies and protections being dismantled, and the key people in positions of power driving these decisions.we hired additional reporters to cover immigration, climate and environment, voting and elections, federal agencies, education, business and corporate accountability and more. Along with specialized data, research and engagement staff, propublica reporters published rigorously reported exposes, investigative profiles, and more timely stories that break news to help readers understand this pivotal moment in our nation's history.

Financial Efficiency

• Mission deployment rate: 56.6%; rating input score 57
• Program expense ratio: 79.8%; rating input score 80
• Fundraising efficiency: $17.96 raised per $1 spent on fundraising; rating input score 41; 41st percentile among comparable filings

Transparency & Controls

• Consistency checks: 94.1%; rating input score 94; 25th percentile among comparable filings
• Pay-setting controls: 5 of 6 controls in place; rating input score 83
  • Compensation committee: Pass
  • Independent consultant: Pass
  • 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: 99.1%; rating input score 99; 45th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 65th percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 31.4%; rating input score 89; 89th percentile among comparable filings
• Total-asset coverage ratio: 2.64; rating input score 62; 62nd percentile among comparable filings
• Liabilities to assets ratio: 0.07; rating input score 79; 79th percentile among comparable filings
• Officer compensation ratio: 8%; rating input score 8; 8th percentile among comparable filings

Growth

• Program expense growth: 12.4% per year; rating input score 100; 77th percentile among comparable filings
• Revenue growth: 13.2% per year; rating input score 100; 83rd percentile among comparable filings
• Asset growth: 18.6% per year; rating input score 100; 92nd percentile among comparable filings