Civic Intelligence

Twin Cities Public Media Commons

990 • Fiscal year 2017 • EIN 47-2050252

Sep 01, 2016 to Aug 31, 2017 • Filed on Feb 21, 2018

172 East 4th StreetSaint Paul, MN 55101

(651) 222-1717

Siviq Scores

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

Liabilities / Assets

75th percentile

0.55x

Higher debt load relative to assets than 75% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

99th percentile

36.10x

Higher debt load relative to revenue than 99% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Net Margin

1st percentile

-360%

Higher net margin than 1% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

87th percentile

$405,169

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 162.1% of source-year revenue.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Asset Growth

11th percentile

-6.3%

Faster asset growth than 11% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

53rd percentile

5.8%

Faster revenue growth than 53% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Assets

Down

$16,545,824

Down $1,111,612 (-6.3%) from 2016

Net Assets

Down

$7,520,824

Down $900,738 (-11%) from 2016

Liabilities

Down

$9,025,000

Down $210,874 (-2.3%) from 2016

Revenue

Up

$250,000

Up $13,750 (+5.8%) from 2016

Expenses

Up

$1,150,738

Up $392,765 (+52%) from 2016

Net Income

Down

-$900,738

Down $379,015 (-73%) from 2016

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2015: $20,310,903Liabilities 2015: $11,829,460Net Assets 2015: $8,481,4432015Assets 2016: $17,657,436Liabilities 2016: $9,235,874Net Assets 2016: $8,421,5622016Assets 2017: $16,545,824Liabilities 2017: $9,025,000Net Assets 2017: $7,520,8242017Assets 2018: $15,645,086Liabilities 2018: $9,025,000Net Assets 2018: $6,620,0862018Assets 2019: $14,304,589Liabilities 2019: $9,025,000Net Assets 2019: $5,279,5892019Assets 2020: $13,569,694Liabilities 2020: $9,271,487Net Assets 2020: $4,298,2072020Assets 2021: $12,555,396Liabilities 2021: $9,025,000Net Assets 2021: $3,530,3962021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2017

Assets$16,545,824
Liabilities$9,025,000
Net Assets$7,520,824

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2015: $9,141,667Expenses 2015: $969,724Net Income 2015: $8,171,9432015Revenue 2016: $236,250Expenses 2016: $757,973Net Income 2016: -$521,7232016Revenue 2017: $250,000Expenses 2017: $1,150,738Net Income 2017: -$900,7382017Revenue 2018: $250,000Expenses 2018: $1,150,738Net Income 2018: -$900,7382018Revenue 2019: $150,000Expenses 2019: $1,117,837Net Income 2019: -$967,8372019Revenue 2020: $350,000Expenses 2020: $1,084,895Net Income 2020: -$734,8952020Revenue 2021: $250,000Expenses 2021: $1,017,811Net Income 2021: -$767,8112021Revenue 2022: $9,087,500Expenses 2022: $12,617,896Net Income 2022: -$3,530,3962022

Highlighted filing

2017

Revenue$250,000
Expenses$1,150,738
Net Income-$900,738
Jump To
Filing Snapshot
Filing Period
Sep 1, 2016 to Aug 31, 2017
Signed
Feb 21, 2018
Return Version
2016v3.0
Gross Receipts
$250,000
Mission and Program Overview

Mission

The mission of twin cities public media commons (tcpmc) is to operate exclusively for charitable and educational purposes for the benefit of, to support the functions of, and to assist in carrying out the purposes of twin cities public television, inc., a minnesota nonprofit corporation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$16,840,536$15,892,621▼ $947,915
Cash and Non-Interest-Bearing Accounts$370,543$293,238▼ $77,305
Accounts Receivable$0$0→ $0
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Total Assets$17,657,436$16,545,824▼ $1,111,612
Other Assets Total$446,357$359,965▼ $86,392
Liabilities
Mortgage Notes Payable Secured by Investment Property$9,025,000$9,025,000→ $0
Deferred Revenue$166,250$0▼ $166,250
Accounts Payable and Accrued Expenses$44,624$0▼ $44,624
Other Liabilities$0$0→ $0
Total Liabilities$9,235,874$9,025,000▼ $210,874
Net Assets / Fund Balance
Unrestricted Net Assets$8,421,562$7,520,824▼ $900,738
Total Net Assets Fund Balance$8,421,562$7,520,824▼ $900,738
Total Liabilities and Net Assets / Fund Balance$17,657,436$16,545,824▼ $1,111,612

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$14,145,529$913,799$15,059,328
Equipment$1,747,092$508,073$2,255,165
Compensation and Service Providers

Employees

NameTitleOtherTotal
-Tcpmc Secretary$129,531$129,531

Board Members and Trustees

NameTitle
-Tcpmc Board Chair
-Tcpmc President
-Tcpmc Vice President
-Tcpmc Board Member
-Tcpmc Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$250,000
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-900,738
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,150,738
Total Fundraising Expense$126,802
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$716,447$117,796$113,671$947,914
Interest$116,432--$116,432
Other Expenses$59,653$13,608$13,131$86,392
Total Functional Expenses$892,532$131,404$126,802$1,150,738
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
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$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6 Classes of members or stockholders

The member of this corporation is Twin Cities Public Television, Inc.

Form 990, Part VI, Line 7A Members or stockholders electing members of governing body

The member has the right to assign Board Members and propose amendments to the Articles of Incorporation or Bylaws as well as any other rights pursuant to Chapter 317A of the Minnesota Statues.

Form 990, Part VI, Line 7B Decisions requiring approval by members or stockholders

Any changes in governance will be approved by the member in writing in order to take effect.

Form 990, Part VI, Line 8B Documentation of meetings held by committees of governing body

Tcpmc bylaws authorize committees to act on behalf of the governing body. There was not any committee activity, so no documentation to be recorded at this time.

Form 990, Part VI, Line 11B Review of form 990 by governing body

The review of the content of form 990 is conducted by board of directors, prior to the filing of form 990. Copies of form 990 are provided to all board members prior to filing.

Form 990, Part VI, Line 12C Conflict of interest policy

The officers and board members are required annually to read the conflict of interest policy and fill out a questionnaire which discloses any potential conflicts of interest. The questionnaires are reviewed by general counsel to determine follow-up, if needed. Any conflicts of interest result in the person with the conflict being prohibited from participating in the governing body's deliberations and decisions affected by the conflict.

Form 990, Part VI, Line 19 Required documents available to the public

The organizations governing documents and conflict of interest policy are available upon request. The financial statements of the organization are available on the tpt website and upon request.

Filing and Contact Details

Filer

Filer Name
Twin Cities Public Media Commons
EIN
47-2050252
Phone
6512221717
Address
172 East 4th Street, Saint Paul, MN 55101

Signing Officer

Name
Jennifer Schmidt
Title
Treasurer
Signed
2018-02-21
Discuss with paid preparer
Yes

Organization Details

Formed
2014
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
4
Employees
0
Volunteers
4

Preparer

Firm
Baker Tilly Virchow Krause LLP
Address
225 S Sixth Street 2300, Minneapolis, MN 55402
Preparer
Lawrence H Mohr CPA
Phone
6128764500
Supplemental Narrative

Financial Statement Notes

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

The internal revenue service has determined that tpt and tcpmc are exempt from federal income tax under section 501(c)(3) of the internal revenue code. Tpt and tcpmc are also exempt from state income taxes. Tpt does not pay income taxes on business income which is generated by business activities not substantially related to the exempt purpose of tpt and regularly carried on by tpt. Tpt and tcpmc follow accounting standards for contingencies in evaluating uncertain tax positions. This guidance prescribes recognition threshold principals for the financial statement recognition of tax positions taken or expected to be taken in a tax return that are not certain to be realized. No liability has been recognized by tpt and tcpmc for uncertain tax positions as of august 31, 2017 and 2016. Tpt's tax returns are subject to review and examination by federal and state authorities. The tax returns for fiscal year 2013 and thereafter are open to examination by federal and state authorities.

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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0TWIN CITIES PUBLIC TELEVISION
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT TPT AND TCPMC ARE EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. TPT AND TCPMC ARE ALSO EXEMPT FROM STATE INCOME TAXES. TPT DOES NOT PAY INCOME TAXES ON BUSINESS INCOME WHICH IS GENERATED BY BUSINESS ACTIVITIES NOT SUBSTANTIALLY RELATED TO THE EXEMPT PURPOSE OF TPT AND REGULARLY CARRIED ON BY TPT. TPT AND TCPMC FOLLOW ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPALS FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY TPT AND TCPMC FOR UNCERTAIN TAX POSITIONS AS OF AUGUST 31, 2017 AND 2016. TPT'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE TAX RETURNS FOR FISCAL YEAR 2013 AND THEREAFTER ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt125000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BusinessName/BusinessNameLine1Txt0JAMES R PAGLIARINI
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BusinessName/BusinessNameLine1Txt1JENNIFER SCHMIDT
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt15135
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0TCPMC PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1TCPMC TREASURER
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IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0Twin Cities Public Television uses an independent compensation consultant, compensation study and approval by the board to establish the top management official's compensation
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The member of this corporation is Twin Cities Public Television, Inc.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The member has the right to assign Board Members and propose amendments to the Articles of Incorporation or Bylaws as well as any other rights pursuant to Chapter 317A of the Minnesota Statues.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Any changes in governance will be approved by the member in writing in order to take effect.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3TCPMC BYLAWS AUTHORIZE COMMITTEES TO ACT ON BEHALF OF THE GOVERNING BODY. THERE WAS NOT ANY COMMITTEE ACTIVITY, SO NO DOCUMENTATION TO BE RECORDED AT THIS TIME.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE REVIEW OF THE CONTENT OF FORM 990 IS CONDUCTED BY BOARD OF DIRECTORS, PRIOR TO THE FILING OF FORM 990. COPIES OF FORM 990 ARE PROVIDED TO ALL BOARD MEMBERS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE OFFICERS AND BOARD MEMBERS ARE REQUIRED ANNUALLY TO READ THE CONFLICT OF INTEREST POLICY AND FILL OUT A QUESTIONNAIRE WHICH DISCLOSES ANY POTENTIAL CONFLICTS OF INTEREST. THE QUESTIONNAIRES ARE REVIEWED BY GENERAL COUNSEL TO DETERMINE FOLLOW-UP, IF NEEDED. ANY CONFLICTS OF INTEREST RESULT IN THE PERSON WITH THE CONFLICT BEING PROHIBITED FROM PARTICIPATING IN THE GOVERNING BODY'S DELIBERATIONS AND DECISIONS AFFECTED BY THE CONFLICT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATIONS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. THE FINANCIAL STATEMENTS OF THE ORGANIZATION ARE AVAILABLE ON THE TPT WEBSITE AND UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6 Classes of members or stockholders
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 7a Members or stockholders electing members of governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 8b Documentation of meetings held by committees of governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 11b Review of form 990 by governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 12c Conflict of interest policy
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 19 Required documents available to the public
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0TWIN CITIES PUBLIC TELEVISION INC
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0TPT PRODUCES ORIGINAL TELEVISION PRODUCTIONS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt07
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0172 EAST 4TH STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0SAINT PAUL
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