Presence Radio Network Inc
- Assets
- $63.4k
- Revenue
- $787.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Portland, ME
- Founding
- 03/1946
- Data as of
- 12/2018
- EIN
- 27-1921814
Organization Overview
Presence Radio Network Inc is located in Portland, ME. The organization was established in 1946. According to its NTEE Classification (A34) the organization is classified as: Radio, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Presence Radio Network Inc 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 12/2018, Presence Radio Network Inc generated $787.9k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $1.1m during the year ending 12/2018. 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
2018
Describe the Organization's Mission:
Part 3 - Line 1
THE PRESENCE RADIO NETWORK IS A VOICE FOR OUR CHURCH, FOR THE TRUTH AND FOR OUR FAITH. CATHOLIC RADIO WILL REACH CATHOLICS, NON-CATHOLIC CHRISTIANS, AND NON-BELIEVERS. CATHOLIC RADIO PROGRAM PROVIDERS OFFER THE TEACHINGS OF THE CATHOLIC CHURCH AND THE DOCTRINE AS INTENDED BY ITS FOUNDER, JESUS CHRIST. JESUS PROMISED TO GUIDE THE CHURCH IN ALL TRUTH BY SENDING US HIS HOLY SPIRIT. MAINE CATHOLIC RADIO STATIONS WILL PROVIDE THE VOICE OF THE SPIRIT OF TRUTH ON THE AIR WAVES AND THE INTERNET THROUGHOUT THE STATE OF MAINE.THROUGH AN UNTIRING DESIRE TO SERVE CHRIST AND HIS CHURCH, AND BY THE GRACE OF GOD, THESE EFFORTS ALLOW FOR A STATEWIDE CATHOLIC RADIO NETWORK CAPABLE OF BROADCASTING FROM THE SOUTHERN BEACHES OF YORK COUNTY TO WHERE THE GENTLY ROLLING HILLS OF THE ST. JOHN VALLEY MEET THE CANADIAN BORDER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WXTP CHRIST THE PRESENCE 106.7 FM, LICENSED IN NORTH WINDHAM AND SERVING GREATER PORTLAND, BURST ONTO THE AIRWAVES ON JULY 7, 2010 CREATING A POWERFUL NEW VOICE IN MAINE THE FIRST CATHOLIC RADIO VOICE BROADCASTING THE TRUTHS OF OUR FAITH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Craig Foster Chairman | OfficerTrustee | 5 | $0 |
Denis Boutin Treasurer | OfficerTrustee | 1 | $0 |
FR Nathan March Director | Trustee | 1 | $0 |
Msgr Paul Stefanko Director | Trustee | 1 | $0 |
Cynthia Nickless Executive Director | Trustee | 40 | $0 |
Wayne Moody Secretary | OfficerTrustee | 1 | $0 |
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 | $302,518 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $302,518 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $485,425 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $787,943 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $750,000 |
| 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. | $18,730 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $53,926 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $23,462 |
| Payroll taxes | $5,837 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,093 |
| Fees for services: Accounting | $8,825 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $4,683 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $38,467 |
| Advertising and promotion | $2,535 |
| Office expenses | $2,979 |
| Information technology | $9,661 |
| Royalties | $0 |
| Occupancy | $9,200 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $350 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,685 |
| Insurance | $2,398 |
| All other expenses | $3,893 |
| Total functional expenses | $1,064,239 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,285 |
| Savings and temporary cash investments | $35,100 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $63,385 |
| Accounts payable and accrued expenses | $640 |
| 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 | $200,000 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,115 |
| Total liabilities | $204,755 |
| Unrestricted restricted net Assets | -$141,370 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | -$141,370 |