Prx Incorporated
- Assets
- $19.2m
- Revenue
- $40.0m
- Investments
- $0.0
- Employees
- 63
- Location
- Cambridge, MA
- Founding
- 02/2009
- Data as of
- 06/2022
- EIN
- 26-3347402
Organization Overview
Prx Incorporated is located in Cambridge, MA. The organization was established in 2009. According to its NTEE Classification (A34) the organization is classified as: Radio, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Prx Incorporated employed 63 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prx Incorporated 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 06/2022, Prx Incorporated generated $40.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 26.3% each year . All expenses for the organization totaled $39.0m during the year ending 06/2022. While expenses have increased by 26.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO LEAD CHANGES THAT EXPAND PUBLIC MEDIA AS A TRUSTED SOURCE OF KNOWLEDGE, INFORMATION, AND INSPIRATION FOR ALL.
Describe the Organization's Program Activity:
PRX IS A NON-PROFIT PUBLIC MEDIA COMPANY SPECIALIZING IN AUDIO JOURNALISM AND STORYTELLING. SERVING INDEPENDENT PRODUCERS AND ORGANIZATIONS BY HELPING THEM CONNECT TO THEIR MOST ENGAGED, SUPPORTIVE AUDIENCES. ONE OF THE WORLDS LEADING PODCAST PUBLISHERS, PRX WORKS IN PARTNERSHIP WITH TED, PBS, THE SMITHSONIAN, FUTURO MEDIA, GBH, RELIGION OF SPORTS, AND MORE. PRX IS ALSO HOME TO RADIOTOPIA, KNOWN AS ONE OF THE MOST CREATIVE AND SUCCESSFUL PODCAST NETWORKS. IN ADDITION, PRX DISTRIBUTES TRUSTED AND TREASURED PUBLIC RADIO PROGRAMMING TO HUNDREDS OF STATIONS NATIONWIDE, INCLUDING THE WORLD, THE MOTH RADIO HOUR, THIS AMERICAN LIFE, SNAP JUDGMENT, THE TAKEAWAY, AND LATINO USA. PRX PROGRAMS HAVE BEEN RECOGNIZED BY THE PEABODY AWARDS, DUPONT-COLUMBIA AWARDS, THE IDA DOCUMENTARY AWARDS, AND THE PULITZER PRIZES.PRX HAS LONG BEEN AN ENGINE OF INNOVATION IN PUBLIC MEDIA AND IS AMONG THE TOP TEN PODCAST PUBLISHERS. WE ARE COMMITTED TO PRESERVING THE OPEN PODCAST ECOSYSTEM, PROTECTING LISTENER PRIVACY, AND BUILDING TECHNOLOGY ROOTED IN A PURPOSE TO STRENGTHEN A VIBRANT CREATOR COMMUNITY.PRX SUPPORTS MEDIA INNOVATION ACROSS THE U.S. AND WORLDWIDE THROUGH A GLOBAL TRAINING PROGRAM AND THROUGH WORKSHOPS AT THE PRX PODCAST GARAGE, COMMUNITY RECORDING STUDIO, CLASSROOM, AND EVENT SPACE WITH LOCATIONS IN BOSTON AND SAN FRANCISCO. PODCASTS FROM MISSION-ALIGNED PARTNERS ARE CREATED THROUGH AND WITH OUR STUDIO, PRX PRODUCTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonathan C Abbott Dir/ceo-Wgbh | Trustee | 1 | $0 |
Claudia Palmer Dir/coo-Gbh6/22 | Trustee | 1 | $0 |
Kerri Hoffman President & CEO | OfficerTrustee | 40 | $438,202 |
Cory Zanin CFO | Officer | 1 | $0 |
Jason Saldanha Cbusdev & Cco | Officer | 40 | $190,298 |
Donna Hardwick Cmo | Officer | 40 | $207,512 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Market Enginuity Program Services | 6/29/22 | $4,773,271 |
Wgbh Educational Foundation Program Services | 6/29/22 | $3,631,181 |
Ted Conferences Llc Program Services | 6/29/22 | $2,795,149 |
Criminal Productions Program Services | 6/29/22 | $2,736,637 |
The Moth Program Services | 6/29/22 | $2,563,118 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $90,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,540,637 |
| Noncash contributions included in lines 1a–1f | $40,523 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,630,637 |
| Total Program Service Revenue | $32,398,738 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$200 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $40,029,175 |
| 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. | $1,696,196 |
| Compensation of current officers, directors, key employees. | $220,182 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,898,843 |
| Pension plan accruals and contributions | $104,443 |
| Other employee benefits | $351,199 |
| Payroll taxes | $408,022 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $60,993 |
| Fees for services: Accounting | $368,643 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $686,977 |
| Advertising and promotion | $1,336,503 |
| Office expenses | $0 |
| Information technology | $378,855 |
| Royalties | $0 |
| Occupancy | $413,652 |
| Travel | $357,565 |
| 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 | $258,694 |
| Insurance | $50,401 |
| All other expenses | $49,324 |
| Total functional expenses | $39,001,220 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,397,399 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $372,080 |
| Accounts receivable, net | $13,272,728 |
| 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 | $816,714 |
| Net Land, buildings, and equipment | $350,935 |
| Investments—publicly traded securities | $383,128 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $650,288 |
| Total assets | $19,243,272 |
| Accounts payable and accrued expenses | $6,902,729 |
| Grants payable | $0 |
| Deferred revenue | $2,017,612 |
| 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 | $6,338,743 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $857,459 |
| Total liabilities | $16,116,543 |
| Net assets without donor restrictions | $1,308,248 |
| Net assets with donor restrictions | $1,818,481 |
| 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 | $19,243,272 |