We are proud to be Hong Kong’s most transparent news outlet and, as a non-profit company, HKFP is externally audited every year. Be assured that, when you donate to HKFP, every cent is put to careful use and goes directly towards frontline journalism and original reporting and any surplus goes back into the company. Download a copy of our latest Annual Report.
HKFP Income
Our income during 2019 – our latest audited year – was as follows:
| Income | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|
| All donations | HK$6,056,859* | HK$2,463,408 | HK$1,769,760 | HK$1,063,125 |
| Ads & content sales | HK$271,066 | HK$136,084 | HK$328,759 | HK$92,276 |
| Events | HK$263,361 | HK$24,390 | HK$0 | HK$8,352 |
| Bank interest | HK$226 | HK$21 | HK$1 | HK$12 |
| Total: | HK$6,591,512 | HK$2,623,903 | HK$2,098,520 | HK$1,163,765 |
Our current revenue streams:
- All donations: includes one-off & monthly Patron contributions by cheque/transfer, cash PayPal & card, as well as merch sales profit & shopping referral links. HKFP also retains 2.51 Bitcoin, as of 2020.
- Ads & content sales: includes ad income from display ads; Apple News & Facebook ads, directly purchased rate card ads & content sales [from media outlets, institutions and syndication partner LexisNexis, Dow Jones Factiva & Nordot.
Surplus carried forward:
| 2015 total surplus: | HK$91,654 |
| 2016 total deficit: | -HK$45,569 |
| 2017 total surplus: | HK$445,796 |
| 2018 total surplus: | HK$574,042 |
| 2019 total surplus: | HK$3,698,358 |
- Surplus recycled: As a non-profit, with no shareholders or investors, HKFP’s surplus was recycled back into the company for use in 2020. As of 2021, HKFP is retaining a HK$1.5m legal defence fund in light of the national security law and new threats to press freedom.
- Efficiency: 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 and making full use of teamwork and automation to save on costs.
- Staffing: During 2019, we employed 4-5 full-time staff members and expanded our pool of freelancers to cover the city-wide protests and unrest. Before tax, we spent 82% of donations on paying our hard-working staff and freelancers.
HKFP Patrons in 2020: HKFP has shifted towards a membership model. Small amounts of income from a large pool of Patrons helps support our team, sustain our operations with more security, and guarantee our independence. Our monthly income as of January 2021:
- The number of HKFP Patrons rose by 10% in 2020, whilst income from Patrons rose 16% to HK$172,966. Most Patrons are from Hong Kong, though we also have backers in the US, UK, Australia and China. Growth has slowed since the 539% increase in Patrons we saw in 2019, but income is steady.
- In addition to the above, we receive at least HK$10,000 per month from donors who contribute via cheque, transfer or by coin donation via CoinDragon.
- Patrons are given priority and/or free entry to HKFP events, merch and our Annual Report.
HKFP Spending
Our expenditure for our latest audited year – 1/1/2019 to 31/12/2019 – was as follows:
| Expenditure | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|
| Full-time staff payroll | HK$1,606,352 | HK$1,499,071 | HK$1,340,230 | HK$1,035,523 |
| Mandatory Provident Fund (pensions) | HK$68,123 | HK$69,234 | HK$66,180 | HK$50,942 |
| Website, newswire text/photo, software | HK$80,038 | HK$129,543 | HK$58,693 | HK$33,083 |
| Office, sundry, recruitment/training, telecom | HK$164,256 | HK$110,414 | HK$57,565 | HK$25,801 |
| Meals/drinks for volunteers & staff | HK$29,686 | HK$14,028 | HK$17,106 | HK$25,531 |
| Legal, professional, registration, audit fees | HK$12,340 | HK$7,385 | HK$45,231 | HK$10,845 |
| Travel & insurance | HK$50,615 | HK$78,067 | HK$8,169 | HK$8,267 |
| Stationery/merch, postage, printing | HK$42,311 | HK$11,827 | HK$686 | HK$17,124 |
| Bank charges & exchange losses | HK$4,240 | HK$1,705 | HK$1,170 | HK$2,218 |
| Freelancer payments & gear | HK$289,387 | HK$64,400 | HK$34,090 | HK$0 |
| Tax | HK$509,211 | HK$29,816 | HK$13,343 | HK$0 |
| Advertising | HK$36,597 | HK$34,371 | HK$10,261 | HK$0 |
| Total: | HK$2,893,154* | HK$2,049,861 | HK$1,652,724 | HK$1,209,334 |
Support HKFP into 2021
Not-for-profit, run by journalists and completely independent, the HKFP team relies on readers to keep us going and to help safeguard press freedom.
Donate by cheque
Our preferred donation method is by cheque or transfer as this saves us on fees. Cheques may be made payable to Hong Kong Free Press Limited and posted – along with your name and address to: HKFP, The Hive Kennedy Town, 6/F, Cheung Hing Industrial Building, 12P Smithfield Road, Kennedy Town, Hong Kong. [Donations are confidential – a paper-trail is required for our internal accountancy records. US$ cheques over US$100 are accepted, though involve higher fees for HKFP.]
Donate online via card or PayPal
One-off or monthly donations can be made with your Visa, Mastercard, or Apple Pay/Google Pay via Stripe on our website: support.hongkongfp.com.
Make a transfer to our HSBC account, directly or via FPS
Faster Payment Service: business@hongkongfp.com or Tel: 9447-3443.
Our HSBC account details: •Account name: Hong Kong Free Press Limited. Account number: 817887532-838. •Bank name: HSBC Hong Kong. Bank address: 1 Queen’s Road Central, Hong Kong. •Bank code: 004. Branch number: 817. SWIFT address: HSBCHKHHHKH
For setting up one-off, or regular, bank transfers, please email a screenshot or phone photo of the receipt/form to donations@hongkongfp.com after you have made arrangements so we may show a paper-trail for our internal accountancy records.
Donate via HSBC PayMe
Scan our QR code to make an HSBC PayMe digital payment.
Donate spare coins
Hoarding a jar of coins? Donate spare change at Coin Dragon machines around the city.
Donate cryptocurrency
Help us eliminate processing fees or make a fully anonymous contribution by donating Bitcoin. Or use the Brave browser to donate Basic Attention Token crypto for free when you visit HKFP. Try the privacy-conscious software: bit.ly/hkfpbrave.
Buy HKFP merchandise
Show your support for press freedom with our range of HKFP merchandise. Made in Hong Kong, designed by artist Badiucao.
Donate gear or sponsor our operations
We welcome donations of new computer or audio-visual equipment. We also welcome sponsorship of our ongoing operational costs – please get in touch if you can support us.
Buy HKFP merchandise
Show your support for press freedom with our range of HKFP merchandise. Made in Hong Kong, designed by artist Badiucao.
Donate gear or sponsor our operations
We welcome donations of new computer or audio-visual equipment. We also welcome sponsorship of our ongoing operational costs – please get in touch if you can support us.
‘Tip’ us with a micro-donation
‘Tip’ HKFP with a micro-donation via Flattr.
Advertise with us
Support us and promote your business or cause at the same time. Request our rate card and consider our affordable range of digital marketing solutions: business@hongkongfp.com
Shop at Book Depository
HKFP receives a 5% commission if you shop at the Book Depository via bit.ly/hkfpbooks.
