Salt Lake Tribune becomes a nonprofit

The Salt Lake Tribune has become a nonprofit, the paper has announced.

The IRS approved the nonprofit status in a late October letter, declaring The Tribune a 501(c)(3) public charity. The publication can now accept tax-deductible donations.

The push to become a nonprofit was driven by Tribune owner Paul Huntsman, the paper says. Huntsman, who also serves as publisher, is relinquishing his sole ownership in the move.

“The current business model for local newspapers is broken and beyond repair,” Huntsman told the paper. “We needed to find a way to sustain this vital community institution well beyond my ownership, and nonprofit status will help us do that. This is truly excellent news for all Utah residents and for local news organizations across the country.”

The Tribune will pair donations with revenue from advertising and the Utah Journalism Foundation, which is establishing an endowment to fund independent journalism in Utah.

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