Delaware First Media Corporation
- Assets
- $490.1k
- Revenue
- $1.2m
- Investments
- $55.6k
- Employees
- 16
- Location
- Dover, DE
- Founding
- 08/2010
- Data as of
- 06/2023
- EIN
- 27-0552599
Organization Overview
Delaware First Media Corporation is located in Dover, DE. The organization was established in 2010. 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 06/2023, Delaware First Media Corporation employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Delaware First 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, Delaware First Media Corporation generated $1.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 10.0% each year. All expenses for the organization totaled $1.1m during the year ending 06/2023. While expenses have increased by 9.7% per year over the past 8 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO MAKE A SUBSTANTIAL CONTRIBUTION TO DELAWARE'S JOURNALISM COMMUNITY AND TO THE CITIZENS OF DELAWARE BY DELIVERING ORIGINAL, IN-DEPTH, DELAWARE-SPECIFIC NEWS AND COMMENTARY FROM ALL THREE COUNTIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DELAWARE FIRST MEDIA CREATED AND LAUNCHED DFM NEWS, A NONPROFIT PUBLIC MEDIA NEWS ORGANIZATION THAT PROVIDES STATEWIDE COVERAGE OF NEWS AND COMMENTARY, ONLINE AND VIA PUBLIC RADIO DELMARVA, AS WELL AS PUBLIC-SERVICE PROGRAMMING AND EVENTS. DFM NEWS PROGRAMMING IS ACCESSIBLE TO AND DESIGNED TO BENEFIT ALL DELAWAREANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pete Booker General Mana | Officer | 40 | $21,346 |
David Brond Director | Trustee | 4 | $0 |
Charlisa Holloway Edelin Director | Trustee | 4 | $0 |
Randy Farmer Director | Trustee | 4 | $0 |
Drewry Fennell Director | Trustee | 4 | $0 |
James D Griffin Director | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $189,000 |
| Government grants | $341,553 |
| All other contributions, gifts, grants, and similar amounts not included above | $643,579 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,174,132 |
| Total Program Service Revenue | $0 |
| Investment income | $1,145 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,245 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,183,102 |
| 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 | $447,579 |
| Pension plan accruals and contributions | $3,388 |
| Other employee benefits | $34,150 |
| Payroll taxes | $34,229 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $36,528 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $298,346 |
| Advertising and promotion | $62,566 |
| Office expenses | $18,953 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $853 |
| 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 | $6,212 |
| Insurance | $15,674 |
| All other expenses | $0 |
| Total functional expenses | $1,091,676 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $690 |
| Savings and temporary cash investments | $270,931 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $110,776 |
| 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 | $7,736 |
| Net Land, buildings, and equipment | $20,440 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $55,565 |
| Investments—program-related | $0 |
| Intangible assets | $24,000 |
| Other assets | $0 |
| Total assets | $490,138 |
| Accounts payable and accrued expenses | $36,964 |
| Grants payable | $0 |
| Deferred revenue | $32,752 |
| 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 | $69,716 |
| Net assets without donor restrictions | $177,422 |
| Net assets with donor restrictions | $243,000 |
| 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 | $490,138 |