Media executive and entrepreneur Gerry Lenfest created the Lenfest Institute in 2016 to preserve local news and foster a sustainable model for local journalism. In addition to a financial gift to endow the Institute, he also gifted his ownership of The Philadelphia Inquirer. The Lenfest Institute now operates the newspaper as a public benefit corporation.
Lenfest passed away in 2018, but his legacy endures. As the The Wall Street Journal and New York Times recently noted in two published articles, more and more of the nation’s wealthy philanthropists are turning their attention to preserving local, quality journalism based on the framework that Lenfest created. (Subscriptions may be required to view the New York Times and Wall Street Journal articles.)