Dollars And Cents

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Berkeley – When making decisions about how to go forward, we believe it is always helpful to look at the actual numbers. The adage “follow the money” applies to well, just about everything. Pacifica has released a draft profit and loss statement for the last fiscal year that ended on September 30, 2017. (Finally).

We need to disclose that it is a “draft” financial statement, so the numbers are not finalized, but at 95 days after the end of the fiscal year, most financial transactions should have been recorded in the books by now.

It is important that members have access to the financial statements, so we are making them available to you here.

Please feel free to skip to the areas of most interest to you.

We encourage you to download the source document. Summaries are provided to assist with picking up some highlights (and lowlights).

Station by Station Analysis

 

Revenue: $3.22 Million, Expenses $3.41 Million

Operating Surplus or Loss: Operating Loss of $187K

Comparison to 2016 Fiscal Year

Revenue: In 2017, KPFA revenue declined by $348K. Expenses: In 2017, KPFA expenses increased by $27K

Productivity per staffing dollar in 2017: $1.65

Revenue: $3.25 Million, Expenses $3.20M

Operating Surplus or Loss: Operating Surplus of $52K

Comparison to 2016 Fiscal Year

Revenue: In 2017, KPFK revenue increased by $313K  Expenses: In 2017, KPFK expenses increased by $61K

Productivity per staffing dollar in 2017: $1.85

Revenue: $910K, Expenses: $1.01 Million

Operating Surplus or Loss: Operating Loss of $102K

Comparison to 2016 Fiscal Year

Revenue: In 2017, KPFT revenue declined by $51K. Expenses: In 2017, KPFT expenses declined by $111K

Productivity per staffing dollar in 2017: $2.08

Revenue: $1.60 Million, Expenses (including accrued payments to ESRT of $574K) $2.17 Million

Operating Surplus or Loss: Operating Loss of $569K (excluding ESRT contract – Operating Surplus of $5K)

Comparison to 2016 Fiscal Year

Revenue: In 2017, WBAI revenue increased by $213K. Expenses: In 2017, WBAI expenses increased by $99K

Productivity per staffing dollar in 2017: $2.23

Revenue: $1.16 Million, Expenses $1.31 Million

Operating Surplus or Loss: Operating Loss of $146K

Comparison to 2016 Fiscal Year

Revenue: In 2017, WPFW revenue increased by $246K. Expenses: In 2017, WPFW expenses increased by $64K

Productivity per staffing dollar in 2017: $1.72

Revenue: $424K, Expenses $479K, Central Services Subsidy $208K

Operating Surplus or Loss: Operating Surplus of $153K

Comparison to 2016 Fiscal Year

Revenue: In 2017, PRA revenue increased by $226K. Expenses: In 2017, PRA expenses increased by $61K

Productivity per staffing dollar in 2017:  $1.73

Overall:

Revenue: $11.3 Million, Expenses: $11.5 Million

Operating Surplus or Less: Operating Loss of $217K (Includes $569K accrual on tower contract in 2017)

Comparison to 2016 Fiscal Year

Revenue: In 2017, Pacifica Foundation revenue increased by $752K  Expenses: In 2017, Pacifica Foundation expenses increased by $166K

Productivity per staffing dollar in 2017: $1.74

**

Status Update On ESRT Judgment

The latest information available from the negotiating team is that the Empire Realty Trust was considering a forbearance agreement with Pacifica, which would be a statement that ESRT would forbear from seizing any Pacifica assets to satisfy the judgment, in exchange for an immediate partial payment of $600K with the balance to be paid on the closing of a loan agreement in March.

But Empire State attorneys were concerned by press statements and on-air programs advocating for Chapter 11 bankruptcy filing. They believed those were an indication that Pacifica’s intentions were devious and Pacifica was not negotiating in good faith and intended to make a partial payment, extract a forbearance agreement and then file for Chapter 11 bankruptcy without paying the rest of the balance due. Essentially, that Pacifica was being duplicitous about their intentions.

Therefore we strongly recommend to anyone concerned about Pacifica and KPFA’s future that such activity immediately cease, since it is backfiring and worsening KPFA and Pacifica’s prospects.

**

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Started in 1946 by conscientious objector Lew Hill, Pacifica’s storied history includes impounded program tapes for a 1954 on-air discussion of marijuana, broadcasting the Seymour Hersh revelations of the My Lai massacre, bombings by the Ku Klux Klan, going to jail rather than turning over the Patty Hearst tapes to the FBI, and Supreme Court cases including the 1984 decision that noncommercial broadcasters have the constitutional right to editorialize, and the Seven Dirty Words ruling following George Carlin’s incendiary performances on WBAI. Pacifica Foundation Radio operates noncommercial radio stations in New York, Washington, Houston, Los Angeles, and the San Francisco Bay Area, and syndicates content to over 180 affiliates. It invented listener-sponsored radio.

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