2009 Annual Report - Dow Jones & Company

2009 Annual Report

On the Cover:

Paul Kandell, 2009 National High School Journalism Teacher of the Year RaShawn Mitchner, multimedia intern at Western Kentucky University Left to right, Marcia Parker of , John Dillon and Dr. Marie Hardin of Pennsylvania State University and Associate Dean Brian Brooks of the University of Missouri, Columbia

2009 Annual Report

Table of Contents

From the President

2

From the Executive Director

3

Programs At-A-Glance

4

2009 Financial Report

5

Programs

College Programs

Multimedia Internships

6

News Editing Internships

7

Sports Editing Internships

8

Business Reporting Internships

8

College Educators

9

High School Programs

Summer High School Journalism Workshops

10

Teacher Programs

National High School Journalism

Teacher of the Year

13

Publications

16

Board of Directors

17

Guidelines

18

The Dow Jones Newspaper Fund is a nonprofit foundation established in 1958 and supported by the Dow Jones Foundation and media companies. Its purpose is to promote careers in print and online journalism.

The Dow Jones Newspaper Fund, Inc. P.O. Box 300 Princeton, New Jersey 08543-0300 Phone: (609) 452-2820 FAX: (609) 520-5804 Web: Email: djnf@

? 2010 Copyright Dow Jones News Fund, Inc.

From the President/Richard J. Levine

Embracing Change

As expected, 2009 was an extremely challenging year for the Dow Jones Newspaper Fund, renamed the Dow Jones News Fund in February 2010 to reflect our growing work with the multimedia newsrooms of the digital age.

The Great Recession, triggered by the collapse of the financial markets in 2008, and the increasing popularity of the Internet as a news distributor combined to take a fearsome toll on the nation's newsrooms. With advertising and circulation revenue plummeting, executives at newspapers, which still provide most of the Fund's prestigious reporting and editing internships for college students, ordered sharp and painful cuts in news budgets. Not surprisingly, many editors were forced to reduce the number of interns they hired, and for the first time in many years the number of the Fund's summer internships slipped below 100, to 78.

Yet against this grim backdrop, we remain optimistic about the future of the Fund, which is strong, focused and well positioned to recruit and train the young journalists needed to staff today's rapidly changing news organizations. One reason for our optimism is the belief that most newspapers will be transformed but not destroyed by the Internet. It is heartening that, at long last, more and more papers are moving aggressively to embrace the new digital distribution technologies and overhaul their print and online publications.

The Fund certainly embraced change in a year in which we published COPY!, a book about our first half century. The programs we offered high school newspaper advisers, journalism professors and high school and college students put increasing emphasis on multimedia skills without neglecting the fundamentals of quality journalism ? objective, fact-based reporting; clear, engaging writing, and careful editing. One example: a training program in multimedia journalism aimed at faculty at Historically Black College and Universities. We also reached out to an ever-broader array of newsrooms, including those at business-to-business magazines and online-only publications.

And the pace of change is accelerating. In the summer of 2010, we will offer two multimedia training programs for college teachers, adding a workshop for professors at institutions with large numbers of Hispanic students. In addition, web news providers, including ESPN, the Center for Investigative Reporting and will hire Fund interns for the first time, joining the ranks of such long-time employers as The Wall Street Journal, the New York Times, the Washington Post and the Denver Post. As a result, we remain hopeful that we will be able to provide more internships this year than last ? a very positive development in a still-difficult environment.

In our second-half century, the vital work of the Dow Jones News Fund continues apace, aided by the generous support of Dow Jones & Company and its new parent, News Corporation, as well as by scores of traditional and emerging news organizations.

2 Dow Jones Newspaper Fund

Executive Director's Report/Richard S. Holden

Into the Future

This is the last annual report from the Dow Jones Newspaper Fund.

No, we certainly aren't going out of business. But we are now operating under a new name-- the Dow Jones News Fund. Discussions among our board of directors were ongoing for several months, and the official change took effect on Feb. 2, 2010.

First, a bit of history. Bernard Kilgore, then chairman and chief executive of Dow Jones, and four other executives created the Newspaper Fund Inc. in December 1958. Kilgore wanted the Fund to encompass and serve the entire newspaper industry, not a single entity, and feared that adding "Dow Jones" to the name would work against that goal.

The original name stayed with us until 1982, when "Dow Jones" was added. By that time, Dow Jones had contributed $5 million to the Fund and also was paying all of the Fund's administrative costs, including salaries, travel and related expenses and providing office space. It continues to do so today.

Ours is not the first organization to make the change from "newspaper" to "news." Others that have switched include the American Society of News Editors, the Online News Association and the Society for News Design.

Several factors went into the name change. First, it allows us to brand more closely with our parent company, News Corporation. Second, we still retain our well known "DJNF" logo. And, third, it reflects the growing number of nonnewspaper participants in our programs.

While our work with college students, college professors and the professional media remains the largest target of our funding, we continue to provide much-needed support to high school journalism and to the great teachers who advise scholastic publications--many of which are devoting more and more energy to web-based publications.

In 2009, we provided more than $125,000 in support to 26 workshops for high school students at colleges around the country. Students are trained for up to two weeks in the latest technologies and taught the value in using--correctly and professionally--the social networks that have emerged over the past few years.

This funding is even more important today because many news organizations, faced with ongoing economic difficulties, have reduced their support. Fortunately, news organizations have continued to provide professional journalists to work with the students.

One of the strongest proponents of journalism in the digital age is our 2009 High School Journalism Teacher of the Year, Paul Kandell of Palo Alto High School. Paul's students have won many awards for their online work. But as he has said, technology isn't at the core of good journalism. "That is just the latest vehicle. It's about values."

That's a sentiment we shared as the Dow Jones Newspaper Fund and will continue to share as the Dow Jones News Fund.

2009 Annual Report 3

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