Wednesday, May 15, 2019

Salt Lake Tribune pursues nonprofit status

The Salt Lake Tribune, Utah’s biggest newspaper, is looking to get federal approval to transition to nonprofit status. The paper would then be able to accept tax-deductible donations.
Owner Paul Huntsman said his lawyers are working to move the Tribune from a privately owned business to a community asset, the paper reported. Huntsman purchased the paper in 2016. 
Attorneys have pursued IRS approval to form an endowed nonprofit foundation and the paper will also go after its own nonprofit status as a 501(c)(3), essentially moving its ownership to a public board, the paper said.
In 2018, the paper laid off a third of its staff. The paper now has around 60 newsroom employees, down from 148 in 2011.
The paper says the effort is the first by a legacy U.S. daily to go to nonprofit status.

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