Civic Intelligence

Salt Pond Community Broadcasting Company

990 • Fiscal year 2014 • EIN 22-2513428

Jan 01, 2014 to Dec 31, 2014 • Filed on May 15, 2015

PO Box 170East Orland, ME 04431

(207) 469-6600

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

67th percentile

0.17x

Higher debt load relative to assets than 67% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Liabilities / Revenue

68th percentile

0.15x

Higher debt load relative to revenue than 68% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Net Margin

30th percentile

-3.9%

Higher net margin than 30% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Top Officer Pay

65th percentile

$48,904

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 8.4% of source-year revenue.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Asset Growth

23rd percentile

-5.5%

Faster asset growth than 23% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Revenue Growth

34th percentile

-2.4%

Faster revenue growth than 34% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Assets

Down

$511,735

Down $29,716 (-5.5%) from 2013

Net Assets

Down

$423,533

Down $21,712 (-4.9%) from 2013

Liabilities

Down

$88,202

Down $8,004 (-8.3%) from 2013

Revenue

Down

$584,641

Down $14,192 (-2.4%) from 2013

Expenses

Down

$607,261

Down $10,505 (-1.7%) from 2013

Net Income

Down

-$22,620

Down $3,687 (-19%) from 2013

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$800K$600K$400K$200K$0Assets 2010: $475,821Liabilities 2010: $107,920Net Assets 2010: $367,9012010Assets 2011: $535,766Liabilities 2011: $112,755Net Assets 2011: $423,0112011Assets 2012: $560,683Liabilities 2012: $102,387Net Assets 2012: $458,2962012Assets 2013: $541,451Liabilities 2013: $96,206Net Assets 2013: $445,2452013Assets 2014: $511,735Liabilities 2014: $88,202Net Assets 2014: $423,5332014Assets 2015: $496,865Liabilities 2015: $80,775Net Assets 2015: $416,0902015Assets 2016: $438,027Liabilities 2016: $83,553Net Assets 2016: $354,4742016Assets 2017: $425,883Liabilities 2017: $92,215Net Assets 2017: $333,6682017Assets 2018: $371,278Liabilities 2018: $67,061Net Assets 2018: $304,2172018Assets 2019: $330,170Liabilities 2019: $55,575Net Assets 2019: $274,5952019Assets 2020: $476,685Liabilities 2020: $116,491Net Assets 2020: $360,1942020Assets 2021: $732,028Liabilities 2021: $227,778Net Assets 2021: $504,2502021Assets 2022: $657,309Liabilities 2022: $185,226Net Assets 2022: $472,0832022Assets 2023: $599,223Liabilities 2023: $150,355Net Assets 2023: $448,8682023

Highlighted filing

2014

Assets$511,735
Liabilities$88,202
Net Assets$423,533

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KExpenses 2010: $605,9522010Expenses 2011: $615,7182011Expenses 2012: $609,9882012Revenue 2013: $598,833Expenses 2013: $617,766Net Income 2013: -$18,9332013Revenue 2014: $584,641Expenses 2014: $607,261Net Income 2014: -$22,6202014Revenue 2015: $623,075Expenses 2015: $628,578Net Income 2015: -$5,5032015Revenue 2016: $531,958Expenses 2016: $592,069Net Income 2016: -$60,1112016Revenue 2017: $523,088Expenses 2017: $551,584Net Income 2017: -$28,4962017Revenue 2018: $532,784Expenses 2018: $558,497Net Income 2018: -$25,7132018Revenue 2019: $537,378Expenses 2019: $575,278Net Income 2019: -$37,9002019Revenue 2020: $661,345Expenses 2020: $578,845Net Income 2020: $82,5002020Revenue 2021: $749,368Expenses 2021: $615,577Net Income 2021: $133,7912021Revenue 2022: $612,789Expenses 2022: $632,620Net Income 2022: -$19,8312022Revenue 2023: $666,503Expenses 2023: $699,280Net Income 2023: -$32,7772023

Highlighted filing

2014

Revenue$584,641
Expenses$607,261
Net Income-$22,620
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 15, 2015
Return Version
2014v5.0
Gross Receipts
$585,741
Mission and Program Overview

Mission

WERU Community Radio is an independent, noncommercial, educational media organization. WERU engages with the local community to provide diverse music, independent news, public affairs and cultural content that connects, informs, and inspires.

To provide a community-based, non-commercial radio service; To broadcast programs designed to serve the needs of those not fully served by other broadcast media in the areas covered by WERU's signal; (See schedule O)

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$297,481$275,674▼ $21,807
Savings and Temporary Cash Investments$67,501$69,037▲ $1,536
Investments in Publicly Traded Securities$60,371$60,588▲ $217
Pledges and Grants Receivable$41,108$34,289▼ $6,819
Prepaid Expenses and Deferred Charges$29,646$30,596▲ $950
Cash and Non-Interest-Bearing Accounts$28,396$20,437▼ $7,959
Intangible Assets$14,660$16,872▲ $2,212
Accounts Receivable$2,288$4,242▲ $1,954
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Inventories for Sale or Use-$0-
Total Assets$541,451$511,735▼ $29,716
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$34,038$31,529▼ $2,509
Mortgage Notes Payable Secured by Investment Property$37,120$31,188▼ $5,932
Deferred Revenue$25,048$25,485▲ $437
Total Liabilities$96,206$88,202▼ $8,004
Net Assets / Fund Balance
Unrestricted Net Assets$294,384$263,473▼ $30,911
Temporarily Rstr Net Assets$125,861$135,060▲ $9,199
Permanently Rstr Net Assets$25,000$25,000→ $0
Total Net Assets Fund Balance$445,245$423,533▼ $21,712
Total Liabilities and Net Assets / Fund Balance$541,451$511,735▼ $29,716

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$112,581$799,769$912,350
Equipment$83,823$376,304$460,127
Buildings$35,336$85,324$120,660
Leasehold Improvements$32,494$42,877$75,371
Land$11,440-$11,440

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$60,371-▲ $3,235$2,130$60,588
2013$54,736-▲ $8,404$2,070$60,371
2012$50,071-▲ $6,575$1,271$54,736
2011$50,741-▼ $83-$50,071
2010-$50,000▲ $1,004-$50,741
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Matthew MurphyGeneral ManagerFT$45,316$3,588$48,904

Board Members and Trustees

NameTitle
Carl Greg RosselPresident
John GreenmanVice President
Kathleen RybarzDirector
Michael DonahueDirector
Richard PagetDirector
Starr GilmartinDirector
Susan PierceDirector
Sean GambrelSecretary
Jon Van AmringeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$464,545
Program Service Revenue
$101,040
Investment Income
$2,365
Other Revenue
$16,691
All Other Contributions
$119,627
Change in Net Assets
$-22,620

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table4,208$42,080Estimate
Total Noncash Contributions4,208$42,080-

Audited Revenue Reconciliation

Revenue per Audited Statements
$584,641
Revenue Not Reported on Form 990
$27,833
Total Revenue per Audited Statements
$612,474
Total Revenue per Form 990
$584,641
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$305,183
Salaries, Compensation, and Employee Benefits$302,078
Total Fundraising Expense$87,410
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$89,930$57,954$51,960$199,844
Depreciation Depletion$69,141--$69,141
All Other Expenses$25,544$27,494$3,362$56,400
Current Officers, Directors, Trustees, and Key Employees$21,203$13,665$12,251$47,119
Other Employee Benefits$15,778$10,169$9,116$35,063
Payroll Taxes$9,023$5,816$5,213$20,052
Other Expenses$19,403$2,534$2,281$19,403
Fees for Services Other$12,684$341-$13,025
Occupancy$4,481$7,630-$12,111
Fees for Services Accounting-$9,200-$9,200
Insurance$6,747--$6,747
Conferences and Meetings$692$970$1,800$3,462
Fees for Services Legal$2,192$543-$2,735
Interest$1,199$1,198-$2,397
Advertising$105$64$1,137$1,306
Fees for Service Investment Mgmnt Fees-$888-$888
Travel--$290$290
Total Functional Expenses$381,385$138,466$87,410$607,261

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$634,186
Expenses per Audited Statements$607,261
Total Expenses per Form 990$607,261
Expenses Not Reported on Form 990$26,925
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$16,991
Fundraising Direct Expenses$1,100
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Auction$9,240$9,240-$9,240
Other special events$7,751$7,751$1,100$6,651
Total Events$16,991$16,991$1,100$15,891
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

1. The outside auditor will prepare the 990 following the completion of the annual audit.2. The Finance Committee will review the completed 990 and recommend it to the Board for approval (after addressing with the auditor any changes it deems necessary).3. Board Members will have the opportunity to review the completed 990 and will approve it at its next meeting.4. The Board President will sign the 990 and see that it is filed promptly with the IRS.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Each member of the WERU Board of Directors will file a letter at the annual business meeting disclosing whether they have a conflict of interest and may need to recuse themselves from voting on issues relating to that conflict.Per our policy, "All members of the WERU Board of Directors resolve that no director will participate in any discussion or vote on any matter in which she/he or a member of her/his immediate family has potential conflict of interest due to having material economic involvement regarding the matter being discussed. At the annual meeting of the Board of Directors, individual directors will submit a form stating that she/he has no conflict of interest, or citing any potential conflicts of interest she/he currently has or foresees having in the coming year. The Station will maintain a file of potential conflict of interest forms.If a conflict of interest presents itself at another time during the year, the director must announce her/his potential conflict, disqualify herself/himself, and be excused from the meeting until discussion is over on the matter involved. The president of the WERU Board of Directors is expected to make inquiry if such conflict appears to exist and the board member has not made it known."

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

General Manager - The General Manager has a review/evaluation on a yearly basis by the Board of Directors via the personnel committee. The evaluation is documented and placed in the employee's file. Those individuals who provide the evaluation are independent of the General Manager and of his/her authority. Pay of the General Manager is not compared in any fashion and is based on performance and financial constraints of the station. Other Employees- Other employees are first evaluated after their first six months of service and then yearly thereafter by the General Manager. The General Manager will consult with the personnel committee prior to conducting employee evaluations. Regular reports concerning evaluations will be given to the personnel committee and copies placed in the employee's permanent file. Wages are not compared, but are based on individual employee performance and any financial constraints of the station.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

General Manager - The general manager has a review/evaluation on a yearly basis by the Board of Directors via the personnel committee. The evaluation is documented and placed in the employee's file. Those individuals who provide the evaluation are independent of the General Manager and of his/her authority. Pay of the general manager is not compared in any fashion and is based on performance and financial constraints of the station. Other Employees- Other employees are first evaluated after their first six months of service and then yearly thereafter by the General Manager. The General Manager will consult with the personnel committee prior to conducting employee evaluations. Regular reports concerning evaluations will be given to the personnel committee and copies placed in the employee's permanent file. Wages are not compared, but are based on individual employee performance and any financial constraints of the station.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

WERU's general policy of disclosing its governing documents is upon request.

Filing and Contact Details

Filer

Filer Name
Salt Pond Community Broadcasting Co
EIN
22-2513428
Phone
2074696600
Address
PO Box 170, East Orland, ME 04431

Signing Officer

Name
John Greenman
Title
President
Signed
2015-05-15
Discuss with paid preparer
Yes

Organization Details

Formed
1984
Legal Domicile
Me
Voting Board Members
9
Independent Board Members
8
Employees
7
Volunteers
250

Preparer

Firm
Nickerson PA
Address
PO Box 211, Belfast, ME 04915-0211
Preparer
Michael L Nickerson CPA MSFP
Phone
2073382770
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

Donated Personal Services = -$25825

Other Changes In Net Assets Or Fund Balances - Other Increases

Rounding = $2

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

In 2010, Salt Pond Community Broadcasting partnered with the Maine Community Foundation to establish an endowment to help support WERU's operating needs. The agreement calls for each Organization to contribute $25,000. Salt Pond's funding portion is treated as board designated and the Maine Community Foundation's is treated as permanently restricted. Income earned from the endowmwnt can be used at Salt Pond's board discretion.

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

Special Event Expenditures $1100 Rounding $2

Part XII, Line 2D: Other expenses and losses per audited F/S

Special Event Expenses $1100

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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$5.99$1.50$4.49$6.67$6.99$0.33
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.57$1.85$4.72$6.13$6.33$0.20
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.32$2.28$5.04$7.49$6.16$1.34
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.77$1.16$3.60$6.61$5.79$0.83
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.30$0.56$2.75$5.37$5.75$0.38
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.71$0.67$3.04$5.33$5.58$0.26
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.26$0.92$3.34$5.23$5.52$0.28
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.38$0.84$3.54$5.32$5.92$0.60
2015Detailed filing. Detailed filing data is available for this year.$4.97$0.81$4.16$6.23$6.29$0.06
2014Detailed filing. Detailed filing data is available for this year.$5.12$0.88$4.24$5.85$6.07$0.23
2013Detailed filing. Detailed filing data is available for this year.$5.41$0.96$4.45$5.99$6.18$0.19
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.61$1.02$4.58$6.10
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.36$1.13$4.23$6.16
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.76$1.08$3.68$6.06
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2014 filings • 501(c)3 • $500k-$1M nonprofits