Hong Kong Free Press Transparency Report 2017

We are proud to be Hong Kong’s most transparent news outlet and, as a non-profit company, HKFP is externally audited every year. Download a copy of the latest Hong Kong Free Press Annual Report.

Our income for the period between 1/1/2017 and 31/12/2017 was as follows:

Income 2016 2017
All donations HK$1,063,125 HK$1,769,760
Ad/content sales HK$92,276 HK$328,759
Events HK$8,352 HK$0
Bank interest HK$12 HK$1
Total: HK$1,163,765 HK$2,098,520

transparency hkfp report 2017

Our 2017 revenue streams:

  • All donations: includes one-off and monthly Patron contributions by cheque, cash, transfer, PayPal and debit/credit card, as well as profit from merch sales.
  • Ad/content sales: includes income from Google/YouTube display ads [HK$3-9k/month]; directly purchased rate card ads; and content sales [from media outlets, institutions and Dow Jones Factiva re-syndication].

transparency hkfp report 2017

HKFP Patrons: HKFP is shifting towards a membership model. A monthly income from Patrons helps support our team and operations sustainably. As of the end of 2018:

  • 72 credit/debit card donors donate HK$14,858 per month, before fees (average HK$206/month).
  • 52 PayPal donors donate HK$11,690 per month, before fees (average HK$225/month).
  • We receive at least HK$6,000 per month from donors who contribute regularly via cheque/transfer.
  • In total, we have a membership income of at least HK$32,562/month from at least 124 Patrons – up from 99 contributing HK$19,767/month in 2017. Donors are overwhelmingly from Hong Kong, though we also have backers in the US, UK, Australia and China.
  • Patrons are given priority and/or free entry to HKFP events, merchandise and a hard copy of our Annual Report. We aim to reach 500 patrons between 2019-2020.

Our expenditure for our latest audited year – 1/1/2017 to 31/12/2017 – was as follows:

Expenditure 2016 2017
Staff payroll HK$1,035,523 HK$1,340,230
Mandatory Provident Fund (pensions) HK$50,942 HK$66,180
Website, newswire text/photo, software HK$33,083 HK$58,693
Office, sundry & recruitment/training HK$25,801 HK$57,565
Meals/drinks for volunteers & staff HK$25,531 HK$17,106
Legal, professional, registration, audit fees HK$10,845 HK$45,231
Travel & Insurance HK$8,267 HK$8,169
Stationery/merch, printing HK$17,124 HK$686
Bank charges HK$2,218 HK$1,170
Freelancer payments & gear HK$0 HK$34,090
Tax HK$0 HK$13,343
Advertising HK$0 HK$10,261
Total: HK$1,209,334 HK$1,652,724
  • HKFP is run as efficiently and prudently as possible, in order to maximise the impact of our donors’ generosity. We make savings by partnering with other media outlets, using free software wherever possible and making full use of teamwork and automation to save on labour costs.
  • During 2017, we employed 4-6 full-time staff members, including a summer intern.

transparency hkfp report 2017

Our balance as of the end of the 2017:

2015 total surplus: HK$91,654
2016 total deficit: -HK$45,569
2017 total surplus: HK$445,796

As a non-profit, with no shareholders or investors, HKFP’s surplus was recycled back into the company in 2018.

81% of all spending goes directly towards supporting our hard-working 24/7 news team.

New revenue streams for 2018 include Book Depository shopping link referrals and coin donation via Coin Dragon machines. We also accept Bitcoin and Flattr microdonations.

The Hong Kong Free Press 2019 Funding Drive seeks to raise HK$1.2m to support our non-profit newsroom and dedicated team of multi-media, multi-lingual reporters. 

hong kong free press 2019 press for freedom funding drive (1)

You can donate now:

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