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Annual Report 2014 ANNUAL REPORT 2014 dowjonesnewsfund.org P.O. Box 300 Princeton, NJ 08543 (609) 452-2820 [email protected] dowjonesnewsfund.org COVER: (Clockwise from top left) Ryan Weber, 2014 Trayes Scholar at Temple Residency, photo credit: Sarah Fry; Temple University 2014 interns, photo credit: Sarah Fry; Weslie Swift, at Arizona State University residency in digital media, photo credit: Kaard Bombe; DJNF National Teacher of the Year Chris Waugaman with Prince George High School journalists; DJNF interns at Temple University residency program; College professors at the Dow Jones News Fund Multimedia Training Academy at University of Texas at El Paso. TABLE OF CONTENTS Message from the President 2 Financial Report 4 Programs at a Glance 6 College Programs 7 • News Editing • Digital Media • Sports Editing • Business Reporting • Trayes Scholarship Teacher Programs 16 • Digital Journalism Workshops for Historically Black Colleges and Universities and Hispanic-Serving Institutions • National High School Journalism Teacher Awards • WSJ.com Subscription Essay Contest High School Programs 23 • Summer Journalism Workshops • Summer Workshop Competition Publications 27 • Adviser Update • Digital Journalism Workshop Study Tributes 29 • Richard Holden, Dow Jones News Fund • Griff Singer, University of Texas, Austin Board of Directors and Officers 30 Deadlines for Proposals and Programs 31 THRIVING IN THE DIGITAL AGE This is my tenth annual report on the state of the Dow Jones News Fund. In the past ten years, the digital revolution and the worst recession since the Great Depression altered the media landscape in ways that were unimaginable for many journalists and publishers. The Internet combined with an unending flood of mobile devices from laptops to tablets to increasingly powerful smart phones vastly expanded the audience for news, while eroding the busi- ness models for legacy news media, most especially big city newspapers, still heavily dependent on print advertising. Richard J. Levine Throughout this period, the News Fund has striven to keep its flagship program—prestigious paid summer internships for college students combined with pre-internship residential train- ing—tuned to the growing needs of the news industry for digitally savvy journalists without compromising our commitment to strengthening the basic skills of journalism: insightful and fair reporting, clear and compelling writing, and careful editing that remain critical to a strong and free press. It gives me great satisfaction to be able report that the News Fund continued to do this and other work extremely well in 2014, even as it underwent a change in leadership with the appointment of Linda Shockley as managing director following the departure and retirement of Rich Holden, who so ably led the Fund for 22 years and whose many contributions are described elsewhere in this report. In summer 2014, the Fund trained and sent into newsrooms 86 interns as business reporters, digital journalists, news and sports copy editors. They were hired by 56 employers, a 20% increase in the number of organizations. Those participating for the first time or returning after an absence included the Philadelphia Inquirer, Chicago Tribune, New Haven Register, Central Connecticut Communications, National Endowment for Financial Education, Pacific Coast Business Times, E.W. Scripps Co., Worcester Telegram & Gazette and Orange County Register. Among the repeat participants were The Wall Street Journal, New York Times, Washington Post, Thomson Reuters, Detroit News, Denver Post, Pittsburgh Post-Gazette, AccuWeather and Patch.com. Dow Jones News Fund Annual Report 2014 Another positive development last year was a study of the effectiveness of Fund’s digital training. Financed by the Dow Jones Foundation and conducted at the journalism school at Western Kentucky University, it found that 80% of the respondents had obtained “a job within three months after completing their DJNF internship and most of them were working in digital jobs at major, traditional media operations.” Under Ms. Shockley, the Fund is expanding its capacity to meet the demands of news orga- nizations for interns with technical as well as journalistic skills. Late in 2014 the Fund hired Heather Taylor as manager of digital media and programs, a new position designed to in- crease the visibility and strengthen communications of the Fund in the digital age. As in past years, none of this would have been possible without the support of News Corp, Dow Jones & Company, the Dow Jones Foundation, the Fund’s board of directors, our media partners and our small but dedicated staff of Linda, Heather and Diane Cohn, manager of finance and administration. To all, I offer my deepest thanks. Richard J. Levine President, Dow Jones News Fund 3 THE DOW JONES NEWS FUND, INC. STATEMENTS OF SUPPORT, REVENUE, EXPENSES, AND CHANGES IN NET ASSETS – CASH BASIS FOR THE YEARS ENDED DECEMBER 31, 2014 AND 2013 2014 2013 Support and Other Revenue Contributions $ 400,400 $ 780,900 Intern Training Grants 96,800 106,000 Book Royalties 1,908 193 Publication Advertising 11,900 8,900 Other - 20 Total Support and Other Revenue 511,008 896,013 Functional Expenses Program Services: High School Teacher Programs 8,134 11,854 High School Student Programs 127,000 133,000 College Student Programs 272,613 352,062 Career Information Program 12,330 14,007 Total Program Services 420,077 510,923 Supporting Services: General and Administrative Expenses 44,967 46,126 Total Functional Expenses 465,044 557,049 Increase in Unrestricted Net Assets 45,964 338,964 Unrestricted Net Assets – Beginning of the Year 373,612 34,648 Unrestricted Net Assets – End of Year $ 419,576 $ 373,612 Dow Jones News Fund Annual Report 2014 THE DOW JONES NEWS FUND, INC. STATEMENTS OF FUNCTIONAL EXPENSES – CASH BASIS FOR THE YEARS ENDING DECEMBER 31, 2014 AND 2013 2014 2013 Program Services High School Teacher Programs: Teacher Awards Student Scholarships $ 2,000 $ 2,000 Teacher Awards Operating Costs 6,134 9,854 Total High School Teacher Programs Expenses 8,134 11,854 High School Student Programs: Journalism Workshops 120,000 125,000 Writing Competition Scholarships 7,000 8,000 Total High School Student Programs Expenses 127,000 133,000 College Student Programs: Editing Intern Scholarships 37,000 45,000 Editing Intern Training and Travel Costs 150,856 217,148 Business Reporting Training Center Costs 17,061 14,963 Faculty Training Programs Costs 47,986 50,516 Intern Programs Operating Costs 19,710 24,435 Total College Student Programs Expenses 272,613 352,062 Career Information Programs: High School Newsletter Costs 12,330 14,007 Supporting Services General and Administrative Expenses: Travel, Meetings, and Conference Expenses 14,104 24,183 Audit Fee 8,373 7,100 Publication and Printing Costs 7,147 2,676 Promotion and Sponsorship 4,069 2,068 Dues and Filing Fees 254 300 Postage 10,153 9,397 Miscellaneous 867 402 Total General and Administrative Expenses 44,967 46,126 Total Functional Expenses $ 465,044 $ 557,049 5 MISSION The Dow Jones News Fund’s mission is to promote careers in journalism in the digital age. Our vision is robust news media staffed by well-trained, innovative journalists who reflect America’s diversity and are dedicated to a free, strong and fair press. PROGRAMS AT A GLANCE College Internship Program The Dow Jones News Fund trains undergraduate and graduate students to work as business reporters, digital journalists, news and sports copy editors in paid internships at some of the nation’s leading news organizations. Each year, one student is selected as the Trayes Scholar for their outstanding work during their residency and internship, and awarded a $1,000 scholar- ship. Ryan Weber, a Temple residency intern placed at The Washington Post, was selected as the Trayes Scholar. High School Summer Journalism Workshops The Fund provided grants to colleges and nonprofits for 22 Summer High School Journalism Workshops, which trained more than 400 high school students. Eight students won $1,000 college scholarships based on their photography, stories and multimedia projects. High School Teacher of the Year Awards The National High School Journalism Teacher of the Year Awards program showcases innova- tion in scholastic journalism and celebrates those teachers who inspire students to go above and beyond to accomplish the extraordinary. Chris Waugaman of Prince George (Va.) High School was named the Teacher of the Year and eight other high school journalism advisers were honored for their excellence in scholastic journalism. The nine award recipients and 16 essay contest winners received digital subscriptions to WSJ.com for one year for use in their classrooms. Multimedia Training for HBCU and HSI Educators Fourteen faculty from Historically Black Colleges and Universities received advanced digital journalism training at Western Kentucky University, Bowling Green, in a program directed by Dr. Pam Johnson. Zita Arocha led the program at the University of Texas at El Paso for 12 professors from Hispanic-Serving Institutions. Adviser Update The Dow Jones News Fund publishes a free quarterly newspaper distributed to more than 6,000 high school journalism educators, media professionals and college professors. Dow Jones News Fund Annual Report 2014 COLLEGE INTERNSHIP PROGRAMS The Dow Jones News Fund trained 86 undergraduate and graduate students to work as business reporters, digital journalists, news and sports copy editors in paid internships at 56 of the nation’s leading news organiza- tions. The number of organizations hiring DJNF interns in 2014 was up nine positions, or 20%, from 2013 as a result of recruiting by program directors and DJNF staff. Among the national and regional news media partici- pating in the internship program were The Wall Street Colin Kennedy prepares for his summer intern- ship at the New Haven Register at Arizona State Journal, The New York Times, The Washington Post, University’s digital media residency program. The Detroit News, Advertising Specialty Institute, Photo Credit: Kaard Bombe Thomson Reuters, the Denver Post, Pittsburgh Post- Gazette and AccuWeather.
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