Pbs Foundation

“The PBS Foundation board has 17 members, 16 of whom are voting and one of whom is non-voting.”

“Pbs is pbs foundation's sole member (article 2.1 of the pbs foundation bylaws).”

“Per article 3.2 of the pbs foundation bylaws, the chair of the pbs board of directors, the president of pbs, and either a pbs board member or a senior executive of pbs as designated by the pbs board chair and the pbs president, shall serve as ex officio, voting members of the board ("ex officio directors"). Up to seventeen (17) additional voting directors may be elected by the member to serve on the board at any given time ("elected directors").”

“Per article 3.3 of the bylaws, pbs's nominating and corporate governance committee must approve all appointments of pbs foundation board members.”

“The process for reviewing the pbs foundation form 990 prior to filing includes a thorough review by the executive director and certain officers of the pbs foundation, including the president, treasurer, and chief legal and governance officer. These officers of the foundation are also members of the senior management team at pbs. In addition, copies of the form are provided to the full board for review prior to filing.”

“In accordance with pbs's conflict of interest policy, pbs foundation's executive staff, officers and board members are required to complete a conflict of interest form at the beginning of each fiscal year and are required to update the form as necessary throughout the year. These forms are distributed, collected, reviewed, and retained by pbs foundation's corporate secretary.”

“THE FOUNDATION'S PARENT ORGANIZATION, PBS, EXECUTES ON AN ANNUAL BASIS A PROCESS BY WHICH IT DETERMINES THE COMPENSATION FOR THE FOUNDATION'S EXECUTIVE DIRECTOR. THE FOUNDATION'S EXECUTIVE DIRECTOR IS COMPENSATED BY THE FOUNDATION. THE President OF THE FOUNDATION AND ALL OTHER OFFICERS ARE COMPENSATED SOLELY BY THE RELATED ORGANIZATION, PBS.”

“Financial statements and policies governing the pbs foundation are made available upon request in writing.”

“The pbs foundation receives contributions in the form of securities which in practice it liquidates to cash as soon as reasonably possible. These amounts are recorded as contribution revenue at fair market value (fmv) in line 1f of the schedule, and assigned an equivalent cost basis in line 7b, in the period received. These same securities are recorded at the gross sales amount in line 7a of the schedule when sold, resulting in an offsetting gain or loss in fair market value (fmv) at liquidation.”

“To enlist philanthropic support of public broadcasting through establishing special initiatives funds to ensure pbs's continued excellence, and to promote and enhance outstanding public broadcasting programs and services. As the supporting arm of pbs, the foundation solicits funds in support of the various programmatic efforts of pbs. A significant portion of this revenue is recorded on the pbs' consolidated financial statements. The foundation raised $36.1 million and $33.2 million, respectively, for the years ended june 30, 2024 and 2023. These funds include contributions recognized in accordance with asc 958-605, not-for-profit entities - revenue recognition, and exchange transactions that are recognized in accordance with fasb asc topic 606, revenue from contracts with customers. Of these raised funds, $31.6 million and $28.9 million were recorded as revenue on pbs' consolidated financial statements, respectively, for the years ended june 30, 2024 and 2023.”

“The foundation enlists philanthropic support of public broadcasting through establishing special initiatives funds and an endowment fund to ensure pbs's continued excellence, and to promote and enhance outstanding public broadcasting programs and services. Working collaboratively and cooperatively with member stations, the foundation endeavors to secure the extraordinary funding necessary to maintain and enhance pbs's commitment to serving the american public.”

“The foundation is a supporting organization whose efforts and related expenditures sometimes result in benefits not reflected in its own form 990 report, as these benefits are received directly by its supported organization, public broadcasting service.”

“Reconciliation of net assets: supplemental explanation: revenues are greater than expenses reflecting the timing of receipt of grant funds or commitments in one period, and disbursement of those funds in fulfillment of those obligations in subsequent periods.”