Wellesley Media Corporation
- Assets
- $3.1m
- Revenue
- $612.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Wellesley, MA
- Founding
- 03/2003
- Data as of
- 06/2023
- EIN
- 11-3658144
Organization Overview
Wellesley Media Corporation is located in Wellesley, MA. The organization was established in 2003. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wellesley Media Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Wellesley Media Corporation generated $612.8k in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $485.8k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (1.4%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE WELLESLEY MEDIA CORPORATION IS AN INDEPENDENT NON-PROFIT CORPORATION THAT SUPPORTS THE INFORMING OF WELLESLEY CITIZENS WITH REGARDS TO TOWN CIVIC, CULTURAL, AND COMMUNITY MATTERS ON TWO LOCAL CABLE CHANNELS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WELLESLEY MEDIA COPORATION OPERATES AND OVERSEES THE PUBLIC ACCESS CHANNELS ON THE LOCAL CABLE TELEVISION SYSTEM IN WELLESLEY, MASSACHUSETTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Marx President/director | OfficerTrustee | 1 | $0 |
Kenneth Baer Treasurer/director | OfficerTrustee | 3 | $0 |
Owen Dugan Director | Trustee | 1 | $0 |
Diane Campbell Clerk/director | OfficerTrustee | 1 | $0 |
James Joyce Executive Director | Officer | 40 | $108,414 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $559,774 |
| Investment income | $53,017 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $612,791 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $228,540 |
| Pension plan accruals and contributions | $3,514 |
| Other employee benefits | $64,733 |
| Payroll taxes | $16,704 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5 |
| Office expenses | $11,564 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $37,475 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $77,076 |
| Insurance | $4,965 |
| All other expenses | $0 |
| Total functional expenses | $485,817 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,693,121 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $134,917 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $11,752 |
| Net Land, buildings, and equipment | $230,905 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,070,695 |
| Accounts payable and accrued expenses | $12,935 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $12,935 |
| Net assets without donor restrictions | $3,057,760 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,070,695 |