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
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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