Civic Intelligence

Classical 98 1

990 • Fiscal year 2025 • EIN 27-3067797

Jul 01, 2024 to Jun 30, 2025

363 Mercer St Suite 200Seattle, WA 98109

(206) 691-2981

Siviq Scores

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

Liabilities / Assets

53rd percentile

0.18x

Higher debt load relative to assets than 53% of similar nonprofits.

2025 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2025

Liabilities / Revenue

60th percentile

0.30x

Higher debt load relative to revenue than 60% of similar nonprofits.

2025 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2025

Net Margin

76th percentile

21%

Higher net margin than 76% of similar nonprofits.

2025 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2025

Top Officer Pay

60th percentile

$207,345

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 2.8% of source-year revenue.

2025 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2025

Asset Growth

85th percentile

20%

Faster asset growth than 85% of similar nonprofits.

2025 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2024 to 2025

Revenue Growth

97th percentile

199%

Faster revenue growth than 97% of similar nonprofits.

2025 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2024 to 2025

Assets

Up

$12,664,966

Up $2,086,221 (+20%) from 2024

Net Assets

Up

$10,431,888

Up $1,838,030 (+21%) from 2024

Liabilities

Up

$2,233,078

Up $248,191 (+13%) from 2024

Revenue

Up

$7,413,578

Up $4,936,199 (+199%) from 2024

Expenses

Up

$5,865,089

Up $3,484,700 (+146%) from 2024

Net Income

Up

$1,548,489

Up $1,451,499 (+1497%) from 2024

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2015: $1,070,778Liabilities 2015: $137,627Net Assets 2015: $933,1512015Assets 2016: $916,291Liabilities 2016: $182,001Net Assets 2016: $734,2902016Assets 2017: $752,201Liabilities 2017: $165,022Net Assets 2017: $587,1792017Assets 2018: $1,701,763Liabilities 2018: $166,253Net Assets 2018: $1,535,5102018Assets 2019: $5,759,494Liabilities 2019: $113,396Net Assets 2019: $5,646,0982019Assets 2020: $6,921,707Liabilities 2020: $184,998Net Assets 2020: $6,736,7092020Assets 2021: $7,691,634Liabilities 2021: $281,436Net Assets 2021: $7,410,1982021Assets 2022: $10,577,171Liabilities 2022: $2,355,547Net Assets 2022: $8,221,6242022Assets 2023: $10,611,950Liabilities 2023: $2,246,477Net Assets 2023: $8,365,4732023Assets 2024: $10,578,745Liabilities 2024: $1,984,887Net Assets 2024: $8,593,8582024Assets 2025: $12,664,966Liabilities 2025: $2,233,078Net Assets 2025: $10,431,8882025

Highlighted filing

2025

Assets$12,664,966
Liabilities$2,233,078
Net Assets$10,431,888

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2015: $4,075,723Expenses 2015: $3,796,445Net Income 2015: $279,2782015Revenue 2016: $3,636,599Expenses 2016: $3,853,451Net Income 2016: -$216,8522016Revenue 2017: $3,788,940Expenses 2017: $3,939,071Net Income 2017: -$150,1312017Revenue 2018: $4,822,792Expenses 2018: $3,895,604Net Income 2018: $927,1882018Revenue 2019: $7,991,072Expenses 2019: $3,901,458Net Income 2019: $4,089,6142019Revenue 2020: $5,222,890Expenses 2020: $4,129,251Net Income 2020: $1,093,6392020Revenue 2021: $5,192,189Expenses 2021: $4,599,563Net Income 2021: $592,6262021Revenue 2022: $6,059,353Expenses 2022: $4,868,425Net Income 2022: $1,190,9282022Revenue 2023: $5,149,809Expenses 2023: $5,329,631Net Income 2023: -$179,8222023Revenue 2024: $2,477,379Expenses 2024: $2,380,389Net Income 2024: $96,9902024Revenue 2025: $7,413,578Expenses 2025: $5,865,089Net Income 2025: $1,548,4892025

Highlighted filing

2025

Revenue$7,413,578
Expenses$5,865,089
Net Income$1,548,489
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Apr 6, 2026
Return Version
2024v5.0
Gross Receipts
$7,413,578
Mission and Program Overview

Mission

To actively grow, diversify, and enrich the love of classical music in our community by providing a voice for classical music and the arts.

Classical 98.1 will actively grow, diversify, and enrich the love of classical music in our community by providing a voice for classical music and the arts.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$3,112,161$4,628,762▲ $1,516,601
Savings and Temporary Cash Investments$3,160,860$3,811,989▲ $651,129
Land, Buildings, and Equipment, Net$1,283,181$1,083,069▼ $200,112
Intangible Assets$734,775--
Accounts Receivable$143,109$654,656▲ $511,547
Pledges and Grants Receivable$80,500$532,648▲ $452,148
Prepaid Expenses and Deferred Charges$100,689$143,405▲ $42,716
Total Assets$10,578,745$12,664,966▲ $2,086,221
Other Assets Total$1,963,470$1,810,437▼ $153,033
Liabilities
Other Liabilities$1,969,154$2,187,952▲ $218,798
Accounts Payable and Accrued Expenses$15,733$45,126▲ $29,393
Total Liabilities$1,984,887$2,233,078▲ $248,191
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$7,697,756$8,603,708▲ $905,952
Net Assets With Donor Restrictions$896,102$1,828,180▲ $932,078
Total Net Assets Fund Balance$8,593,858$10,431,888▲ $1,838,030
Total Liabilities and Net Assets / Fund Balance$10,578,745$12,664,966▲ $2,086,221

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$780$126,670-
Equipment$4,794$990,030-
Leasehold Improvements$1,077,495$571,887-
Other Assets Org$1,810,437--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Brenda BarnesCEOFT$197,345$17,732$207,345
Rina RomeroCOO-$151,012$22,834$161,012
Michelle M SimonsenManager-$145,694$18,954$155,694
David C BeckAnnouncer-$109,229-$109,229

Board Members and Trustees

NameTitle
Jim DuncanPresident
Christopher T BayleyPresident Em
Brian GrantDirector
Charles DickeyDirector
Diana CareyDirector
Diana GaoDirector
Douglas JacksonDirector
Moya VasquezDirector
Naomi MinegishiDirector
Neil JordanDirector
Steven CliffordDirector
Susan CoughlinDirector
Rob WisemanChief Advanc
Jon RosenSecretary
Kevin FoxTreasurer
Susan HarmonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$6,839,267
Program Service Revenue
$324,391
Investment Income
$249,920
Other Revenue
$0
All Other Contributions
$1,113,665
Change in Net Assets
$1,548,489

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded4,048$187,102Fair Market Value (FMV) Stock Valuation
Cars and Other Vehicles108$119,640Selling Price
Total Noncash Contributions4,156$306,742-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,107,857
Salaries, Compensation, and Employee Benefits$2,702,165
Total Fundraising Expense$2,440,056
Professional Fundraising Fees$55,067
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,332,314$263,286$635,637$2,231,237
Depreciation Depletion$190,107$10,006$734,775$934,888
Office Expenses$374,056$105,553$57,928$537,537
Fees for Services Other$199,602$109,032-$308,634
Current Officers, Directors, Trustees, and Key Employees$123,810$24,467$59,069$207,346
Other Employee Benefits$151,412--$151,412
All Other Expenses$76,309$42,472$4,321$123,102
Other Expenses$120,000$17,642$31,989$120,000
Payroll Taxes$112,170--$112,170
Fees for Services Professional Fundraising--$55,067$55,067
Insurance$40,858$11,993$697$53,548
Travel$15,002$21,769$13,816$50,587
Conferences and Meetings$575$6,200$170$6,945
Total Functional Expenses$2,810,845$614,188$2,440,056$5,865,089
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$55,067
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Classic RadioEntity OverlapCash PaidNo-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$1,944,712
Other Liabilities$243,240
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 35% controlled entity
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

Form 990 is circulated to the president, treasurer, ceo, finance committee and chief operating officer for preview before the form is filed with the irs.

Form 990, Page 6, Part VI, Line 12C

Upon appointment, each director and principal officer of the organization signs a statement which affirms he/she has received a copy of the conflicts of interest policy, has read and understands the policy and agrees to comply with the policy. A copy of the conflicts of interest policy is also distributed annually to the directors and officers. In addition, periodic reviews are performed to determine that all transactions conform to the organization's written policies.

Form 990, Page 6, Part VI, Line 15A

In 2021, a compensation study was performed to determine market equity increase including review with board of directors to determine compensation for the ceo. The information from this study was considered to be applicable to 2022 as well.

Form 990, Page 6, Part VI, Line 15B

In 2021, a compensation study was performed to determine market equity increase including review with board of directors to determine compensation for the ceo. The information from this study was considered to be applicable to 2022 as well.

Form 990, Page 6, Part VI, Line 19

The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon written request.

Filing and Contact Details

Filer

Filer Name
Classical 981
EIN
27-3067797
Phone
2066912981
Address
363 MERCER ST SUITE 200, SEATTLE, WA 98109

Signing Officer

Name
Brenda Barnes
Title
CEO
Phone
2066912981
Signed
2026-04-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brenda Barnes
Formed
2010
Voting Board Members
15
Independent Board Members
15
Employees
27

Preparer

Firm
Francis & Company Pllc
Address
200 W MERCER ST STE 208, SEATTLE, WA 98119-3994
Preparer
Horace C Francis CPA
Phone
2062823720
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

Classical king 98.1 was founded in 1948 and became a public radio station in 2011. King fm reaches more than 250,000 listeners each week, offering commercial-free classical music 24 hours a day over the air throughout the puget sound region and globally via online streams. King fm offers local classical concert broadcasts annually, engages more than 16,000 donors, and moved into a new state-of-the-art facility in 2020. King fm also offers video music content featuring local performers. King fm is also committed to growing the next generation of classical music listeners, offering several music education initiatives on-air, online and in the community. Our board adopted a new strategic framework in 2020 that calls us for us to make significant steps in diversifying our programming, our staff, and our board within the next five years. We are in the process of updating that plan.

Form 990, Page 2, Part III, Line 4B

Classical 98.1 uses a wide spectrum of technologies to deliver the highest quality experience on air and online. In addition to a full-powered analog fm broadcast signal, king fm transmits additional channels of classical music using a state-of-the-art hd digital signal that allows over-the-air cd-quality reception of the main king fm channel and the calm by king channel. In support of our mission, king fm reaches out to a world-wide audience via online audio streams and our smartphone apps allowing audiences far beyond the range of our fm signal to appreciate and enjoy the northwest's great classical music performances. King fm's live broadcast capabilities bring the music of northwest artists from performance venues into the homes of listeners. Classical 98.1 carries concert pre-recorded broadcasts featuring seattle opera, seattle symphony, the seattle chamber music society, and the compline service at st. Mark's cathedral among others.

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IRS990/ProgSrvcAccomActy2Grp/Desc0CLASSICAL 98.1 USES A WIDE SPECTRUM OF TECHNOLOGIES TO DELIVER THE HIGHEST QUALITY EXPERIENCE ON AIR AND ONLINE. IN ADDITION TO A FULL-POWERED ANALOG FM BROADCAST SIGNAL, KING FM TRANSMITS ADDITIONAL CHANNELS OF CLASSICAL MUSIC USING A STATE-OF-THE-ART HD DIGITAL SIGNAL THAT ALLOWS OVER-THE-AIR CD-QUALITY RECEPTION OF THE MAIN KING FM CHANNEL AND THE CALM BY KING CHANNEL. IN SUPPORT OF OUR MISSION, KING FM REACHES OUT TO A WORLD-WIDE AUDIENCE VIA ONLINE AUDIO STREAMS AND OUR SMARTPHONE APPS ALLOWING AUDIENCES FAR BEYOND THE RANGE OF OUR FM SIGNAL TO APPRECIATE AND ENJOY THE NORTHWEST'S GREAT CLASSICAL MUSIC PERFORMANCES. KING FM'S LIVE BROADCAST CAPABILITIES BRING THE MUSIC OF NORTHWEST ARTISTS FROM PERFORMANCE VENUES INTO THE HOMES OF LISTENERS. CLASSICAL 98.1 CARRIES CONCERT PRE-RECORDED BROADCASTS FEATURING SEATTLE OPERA, SEATTLE SYMPHONY, THE SEATTLE CHAMBER MUSIC SOCIETY, AND THE COMPLINE SERVICE AT ST. MARK'S CATHEDRAL AMONG OTHERS.
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IRS990/ProgSrvcAccomActy3Grp/Desc0CLASSICAL 98.1 IS COMMITTED TO SUPPORTING THE ARTS COMMUNITY AND TO MAKING CLASSICAL MUSIC ACCESSIBLE TO ALL THROUGH NEW PARTNERSHIPS. LOCAL CLASSICAL MUSIC PERFORMING ORGANIZATIONS ARE STILL STRUGGLING IN BRINGING AUDIENCES BACK AFTER THE PANDEMIC. THIS IS IMPACTING THEIR FINANCIAL WELL-BEING AS WELL. CLASSICAL KING CONTINUES TO PROVIDE FREE AND LOW COST ANNOUNCEMENTS TO THESE ORGANIZATIONS TO HELP THEM ATTRACT AUDIENCES TO CONCERTS, EVENTS, AND EXHIBITIONS.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0CLASSICAL CD COMMISSION REVENUE 873 MUSIC TRAVEL CLUB 60,000 SEATTLE ART COLLABORATION PROJECT 1,200 SHAKESPEARE SEATTLE COLLABORATION PR 2,500 TAX REFUND 7,977 SEATTLE CTR FOUNDATION PPE COVID 1,044 SEATTLE CHILDREN'S THEATRE COLLAB PR 2,000 TALLEY REFUND 1,254
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1SCHEDULE A, PART II, LINE 10: OTHER INCOME DETAIL BY YEAR: CLASSICAL CD COMMISSION REVENUE 2020 707 2021 166 CLASSICAL MUSIC TRAVEL CLUB 2022 60,000 SEATTLE ART COLLABORATION PROJECT 2020 1,200 SHAKESPEARE SEATTLE COLLABORATION PROJECT 2020 2,500 TAX REFUND 2020 3,899 2021 4,078 SEATTLE CENTER FOUNDATION - PPE FOR COVID SUPPLIES 2021 1,044 SEATTLE CHILDREN'S THEATRE COLLABORATION PROJECT FEE 2021 2,000 TALLEY REFUND 2021 1,254
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