ST. PETERSBURG, Fla. — Financial statements show the Poynter Institute lost $3.5 million last year.

President Timothy A. Franklin said it’s been a challenging few years for all media organizations, including the St. Petersburg-based school and media strategy center that teaches journalists from around the world.

Franklin said in a statement that Poynter is growing new sources of income for the long term.

Franklin revealed a plan this spring that includes more custom teaching and expansion of international programs.

Earlier this week, The Tampa Bay Times reported that the University of South Florida System is exploring the purchase of 3.7 acres of the institute’s vacant land. The property would reportedly be sold for $6.2 million.

The Institute owns Times Publishing Co., which publishes the Tampa Bay Times and Florida Trend magazine.