Civic Intelligence

Wasatch Public Media

990 • Fiscal year 2017 • EIN 80-0166208

Jul 01, 2016 to Jun 30, 2017 • Filed on May 14, 2018

210 East 400 South Suite Suite 7Salt Lake City, UT 84111

(801) 359-5279

Siviq Scores

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

Liabilities / Assets

99th percentile

3.39x

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

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Liabilities / Revenue

97th percentile

4.77x

Higher debt load relative to revenue than 97% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Net Margin

24th percentile

-6.9%

Higher net margin than 24% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Top Officer Pay

65th percentile

$48,500

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 7.5% of source-year revenue.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2017

Asset Growth

16th percentile

-9.1%

Faster asset growth than 16% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Revenue Growth

62nd percentile

11%

Faster revenue growth than 62% of similar nonprofits.

2017 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2016 to 2017

Assets

Down

$910,991

Down $91,468 (-9.1%) from 2016

Net Assets

Down

-$2,180,288

Down $44,937 (-2.1%) from 2016

Liabilities

Down

$3,091,279

Down $46,531 (-1.5%) from 2016

Revenue

Up

$648,160

Up $66,712 (+11%) from 2016

Expenses

Down

$693,097

Down $1,675,161 (-71%) from 2016

Net Income

Up

-$44,937

Up $1,741,873 (+97%) from 2016

Historical Trend

Balance Sheet Trend

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

$4.0M$2.0M$0-$2.0M-$4.0MAssets 2011: $3,129,873Liabilities 2011: $2,931,241Net Assets 2011: $198,6322011Assets 2012: $2,848,786Liabilities 2012: $2,673,545Net Assets 2012: $175,2412012Assets 2013: $2,643,561Liabilities 2013: $2,799,188Net Assets 2013: -$155,6272013Assets 2014: $2,624,173Liabilities 2014: $2,927,208Net Assets 2014: -$303,0352014Assets 2015: $2,680,707Liabilities 2015: $3,029,248Net Assets 2015: -$348,5412015Assets 2016: $1,002,459Liabilities 2016: $3,137,810Net Assets 2016: -$2,135,3512016Assets 2017: $910,991Liabilities 2017: $3,091,279Net Assets 2017: -$2,180,2882017

Highlighted filing

2017

Assets$910,991
Liabilities$3,091,279
Net Assets-$2,180,288

Operations Trend

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

$4.0M$2.0M$0-$2.0MRevenue 2011: $1,176,598Expenses 2011: $1,150,003Net Income 2011: $26,5952011Revenue 2012: $1,259,226Expenses 2012: $1,282,621Net Income 2012: -$23,3952012Expenses 2013: $1,006,7142013Revenue 2014: $673,965Expenses 2014: $821,373Net Income 2014: -$147,4082014Revenue 2015: $619,001Expenses 2015: $664,507Net Income 2015: -$45,5062015Revenue 2016: $581,448Expenses 2016: $2,368,258Net Income 2016: -$1,786,8102016Revenue 2017: $648,160Expenses 2017: $693,097Net Income 2017: -$44,9372017

Highlighted filing

2017

Revenue$648,160
Expenses$693,097
Net Income-$44,937
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 14, 2018
Return Version
2016v3.1
Gross Receipts
$648,160
Mission and Program Overview

Mission

Operate kcpw 88.3 fm public radio station on air and through internet streaming.

Balance Sheet Detail
LineBeginningEndChange
Assets
Intangible Assets$750,000$667,718▼ $82,282
Cash and Non-Interest-Bearing Accounts$163,406$128,861▼ $34,545
Land, Buildings, and Equipment, Net$57,108$58,783▲ $1,675
Pledges and Grants Receivable$15,085$25,995▲ $10,910
Accounts Receivable$14,096$23,800▲ $9,704
Prepaid Expenses and Deferred Charges$2,764$5,834▲ $3,070
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$1,002,459$910,991▼ $91,468
Other Assets Total$0$0→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,373,181$2,333,181▼ $40,000
Accounts Payable and Accrued Expenses$451,910$396,792▼ $55,118
Other Liabilities$312,719$361,306▲ $48,587
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$3,137,810$3,091,279▼ $46,531
Net Assets / Fund Balance
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Unrestricted Net Assets$-2,135,351$-2,180,288▼ $44,937
Total Net Assets Fund Balance$-2,135,351$-2,180,288▼ $44,937
Total Liabilities and Net Assets / Fund Balance$1,002,459$910,991▼ $91,468

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$55,878$118,999$174,877
Other Land Buildings$2,905$51,248$54,153
Leasehold Improvements-$8,975$8,975
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Lauren ColucciGeneral ManagerFT$48,500$48,500
Jesse EllisProgramming and OperationsFT$48,000$48,000

Board Members and Trustees

NameTitle
Paul BrunoBoard Chair
Shundana YusafBoard Member
Glen FergusonSecretary
Tim ChamblessTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$606,348
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$41,812
All Other Contributions
$392,674
Change in Net Assets
$-44,937

Audited Revenue Reconciliation

Revenue per Audited Statements
$648,160
Total Revenue per Audited Statements
$648,160
Total Revenue per Form 990
$648,160
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$435,853
Salaries, Compensation, and Employee Benefits$257,244
Total Fundraising Expense$168,108
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$19,260$25,724$115,760$160,744
Interest-$115,566-$115,566
Fees for Services Management$10,090$69,383$22,793$102,266
Current Officers, Directors, Trustees, and Key Employees$96,500--$96,500
Office Expenses$2,722$25,023$6,088$33,833
Other Expenses$32,282-$7,108$32,282
Depreciation Depletion$18,215--$18,215
All Other Expenses$614-$12,202$12,816
Insurance-$7,465-$7,465
Payments to Affiliates-$4,780-$4,780
Total Functional Expenses$277,048$247,941$168,108$693,097

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$693,097
Total Expenses per Audited Statements$693,097
Total Expenses per Form 990$693,097
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Interest Payable$361,306
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 - ORGANIZATION'S PROCESS TO REVIEW

The board receives an e-mail draft of the form 990 and has the opportunity to ask clarifying questions. The board votes to approve form 990 before the return is filed.

Form 990, Part VI, Line 12C - Enforcement of Conflicts Policy

Management and board members disclose any conflicts and signs a conflict of interest form annually.

Form 990, Part VI, Line 15A - Compensation Process for Top Official

The board of directors reviews and approves the compensation package for the president and ceo of kcpw. The compensation package is based upon a number of factors including non-profit mangaement experience, major gift and capital campaign experience, knowledge of the utah philanthropic community and experience with the financing and acquisition of a business like kcpw.

Form 990, Part VI, Line 15B - Compensation Process for Officers

The compensation of other key employees of kcpw is based upon comparable pay in the industry and additional job duties attached to each position. For some positions, this is then reduced as needed due to current station resources.

Form 990, Part VI, Line 19 - Governing Documents Disclosure Explanation

All items are available by request at their offices and some are available on the website.

Filing and Contact Details

Filer

Filer Name
Wasatch Public Media
EIN
80-0166208
In Care Of
% ORGANIZATION
Phone
8013595279
Address
210 East 400 South Suite Suite 7, Salt Lake City, UT 84111

Signing Officer

Name
Lauren Colucci
Title
General Manager
Phone
8013595279
Signed
2018-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lauren Colucci
Formed
2007
Legal Domicile
Ut
Voting Board Members
4
Independent Board Members
4
Employees
7
Volunteers
44

Preparer

Firm
Philip H Cooper & Company LLC
Address
136 S MAIN ST STE A300, SALT LAKE CITY, UT 84101
Preparer
Jason J Howell
Phone
8014332140
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

KCPW's mission is to (1) create informed and engaged citizens by providing in-depth local, national, and international news (2) connect and involve our audience by presenting news, lectures, local events, and special broadcasts related to politics, the environment, education, and business (3) foster and stregthen our communitiy by partnering with local business and organizations and (4) act as a lifelong educational resource. KCPW strives to accomplish this mission by creating locally-produced, quality radio content. We do this both on our own and in conjunction with various local partners - including other news organizations, the nonprofit community, and with other local agencies and institutions. Along with legislative coverage, local news reports, and special broadcasts of local debates, panel discussions, and lectures, KCPW produces and broadcasts six weekly local programs: Behind the Headlines, Both Sides of the Aisle, The Bottom Line, The Hinckley Institute Radio Hour, In the Hive, and Jazz Time with Steve Williams and one weekly feature: The Beehive Archive.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0KCPW's mission is to (1) create informed and engaged citizens by providing in-depth local, national, and international news (2) connect and involve our audience by presenting news, lectures, local events, and special broadcasts related to politics, the environment, education, and business (3) foster and stregthen our communitiy by partnering with local business and organizations and (4) act as a lifelong educational resource. KCPW strives to accomplish this mission by creating locally-produced, quality radio content. We do this both on our own and in conjunction with various local partners - including other news organizations, the nonprofit community, and with other local agencies and institutions. Along with legislative coverage, local news reports, and special broadcasts of local debates, panel discussions, and lectures, KCPW produces and broadcasts six weekly local programs: Behind the Headlines, Both Sides of the Aisle, The Bottom Line, The Hinckley Institute Radio Hour, In the Hive, and Jazz Time with Steve Williams and one weekly feature: The Beehive Archive.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD RECEIVES AN E-MAIL DRAFT OF THE FORM 990 AND HAS THE OPPORTUNITY TO ASK CLARIFYING QUESTIONS. THE BOARD VOTES TO APPROVE FORM 990 BEFORE THE RETURN IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MANAGEMENT AND BOARD MEMBERS DISCLOSE ANY CONFLICTS AND SIGNS A CONFLICT OF INTEREST FORM ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE COMPENSATION PACKAGE FOR THE PRESIDENT AND CEO OF KCPW. THE COMPENSATION PACKAGE IS BASED UPON A NUMBER OF FACTORS INCLUDING NON-PROFIT MANGAEMENT EXPERIENCE, MAJOR GIFT AND CAPITAL CAMPAIGN EXPERIENCE, KNOWLEDGE OF THE UTAH PHILANTHROPIC COMMUNITY AND EXPERIENCE WITH THE FINANCING AND ACQUISITION OF A BUSINESS LIKE KCPW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE COMPENSATION OF OTHER KEY EMPLOYEES OF KCPW IS BASED UPON COMPARABLE PAY IN THE INDUSTRY AND ADDITIONAL JOB DUTIES ATTACHED TO EACH POSITION. FOR SOME POSITIONS, THIS IS THEN REDUCED AS NEEDED DUE TO CURRENT STATION RESOURCES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ALL ITEMS ARE AVAILABLE BY REQUEST AT THEIR OFFICES AND SOME ARE AVAILABLE ON THE WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, LINE 11B - ORGANIZATION'S PROCESS TO REVIEW
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, LINE 12C - ENFORCEMENT OF CONFLICTS POLICY
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, LINE 15A - COMPENSATION PROCESS FOR TOP OFFICIAL

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