2015 Financial Report

By KNOM Radio | December 18, 2015 |

Here you’ll find our financial outlook for the 2015 fiscal year (July 1, 2014 to June 30, 2015), compared to FY 2014. The data in these charts and tables match figures sent to the IRS.

We’re happy to report that KNOM Radio Mission, Inc., finished the fiscal year “in the black,” with income exceeding expenses. This is owing, in part, to the humbling generosity of this year’s legacy giving (wills and bequests). Our board of directors has decided to place nearly half of the FY 2015 legacy giving ($329,129, as of June 30) into long-term savings.

It’s worth noting, too, that our increase in staff expenses is due largely to increases in insurance costs; our staff wages have remained stable.

An item which is likely not self-explanatory is the net time of our volunteers. This is, in essence, what KNOM would pay our full-time volunteers if they received full salaries, less stipends for housing, food, and personal expenses. Accounting guidelines require us to count this as both a source of income and an expense; its actual financial impact is zero.

Finally, we’re grateful to report our digital studios fund stood at $833,141 at the end of FY 2015. Now, as always, we’re honored and amazed by the generosity of our supporters. Thank you.

Income, 2015 vs. 2014

	FY 2015	FY 2014
donations	$950,124	$1,043,102
vol. time (net)	$150,899	$147,881
wills/bequests	$615,165	$386,522
program undr.	$51,159	$40,747
other income	$6,254	$8,686
total	$1,773,601	$1,626,938
digital studios designations*	$271,205	$67,833

*These amounts exclude pledges and grants awarded to KNOM but not received.

Expenses, 2015 vs. 2014

	FY 2015	FY 2014
staff	$721,677	$706,251
vol. time (net)	$150,899	$147,881
programming	$341,126	$394,581
fundraising	$379,595	$480,109
administrative	$57,714	$45,124
total	$1,651,011	$1,773,946

Income, FY 2015

Expenses, FY 2015

Posted in The Nome Static, Year-End 2015 and tagged contribution, donor, expense, finance, fiscal year, income, IRS

2 Comments

Gene on December 19, 2015 at 12:24 pm

Am I missing something? Only 21% of your income to programming. Not very efficient, unacceptable I would say
- David Dodman on December 23, 2015 at 7:31 pm
  Hello, Gene,
  
  To respond to your comment, a few points:
  - A large share of our staff efforts directly support KNOM’s programming, even though expenses for staff are a separate line item.
  - In a similar vein: “programming,” as is defined for our financial purposes, is a very specific category of expenditure. All the infrastructure, engineering, talent/staff, and overhead expenses that support KNOM — that, in other words, support the programming we broadcast on our AM and FM frequencies — are defined into other categories and fall outside the 21% that inspired your objection. These other, non-“programming” components are still quite essential; remove any of them, and KNOM would be unsustainable.
  - Operating in bush Alaska requires extraordinary effort, and compared with costs elsewhere, such as the Lower 48, nearly everything is more expensive — sometimes, staggeringly so.
  Within these contexts, we hope the percentages become more acceptable. Thank you for the opportunity to clarify the report.