Classical 98 1
- Assets
- $10.6m
- Revenue
- $5.1m
- Investments
- $0.0
- Employees
- 27
- Location
- Seattle, WA
- Founding
- 03/2011
- Data as of
- 12/2023
- EIN
- 27-3067797
Organization Overview
Classical 98 1 is located in Seattle, WA. The organization was established in 2011. 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 12/2023, Classical 98 1 employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Classical 98 1 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 12/2023, Classical 98 1 generated $5.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $5.3m during the year ending 12/2023. While expenses have increased by 3.8% per year over the past 9 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
CLASSICAL 98.1 WILL ACTIVELY GROW, DIVERSIFY, AND ENRICH THE LOVE OF CLASSICAL MUSIC IN OUR COMMUNITY BY PROVIDING A VOICE FOR CLASSICAL MUSIC AND THE ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLASSICAL KING 98.1 WAS FOUNDED IN 1948 AND BECAME A PUBLIC RADIO STATION IN 2011. KING FM REACHES MORE THAN 220,000 LISTENERS EACH WEEK, OFFERING COMMERCIAL-FREE CLASSICAL MUSIC 24 HOURS A DAY OVER THE AIR THROUGHOUT THE PUGET SOUND REGION AND GLOBALLY VIA ONLINE STREAMS. KING FM OFFERS LOCAL CLASSICAL CONCERT BROADCASTS ANNUALLY, ENGAGES MORE THAN 15,000 DONORS, AND MOVED INTO A NEW STATE-OF-THE-ART FACILITY IN 2020. KING FM ALSO OFFERS VIDEO MUSIC CONTENT FEATURING LOCAL PERFORMERS. KING FM IS ALSO COMMITTED TO GROWING THE NEXT GENERATION OF CLASSICAL MUSIC LISTENERS, OFFERING SEVERAL MUSIC EDUCATION INITIATIVES ON-AIR, ONLINE AND IN THE COMMUNITY. OUR BOARD ADOPTED A NEW STRATEGIC FRAMEWORK IN 2020 THAT CALLS US FOR US TO MAKE SIGNIFICANT STEPS IN DIVERSIFYING OUR PROGRAMMING, OUR STAFF, AND OUR BOARD WITHIN THE NEXT FIVE YEARS. WE ARE IN THE PROCESS OF UPDATING THAT PLAN.
CLASSICAL 98.1 USES A WIDE SPECTRUM OF TECHNOLOGIES TO DELIVER THE HIGHEST QUALITY EXPERIENCE ON AIR AND ONLINE. IN ADDITION TO A FULL-POWERED ANALOG FM BROADCAST SIGNAL, KING FM TRANSMITS ADDITIONAL CHANNELS OF CLASSICAL MUSIC USING A STATE-OF-THE-ART HD DIGITAL SIGNAL THAT ALLOWS OVER-THE-AIR CD-QUALITY RECEPTION OF THE MAIN KING FM CHANNEL AND THE CALM BY KING CHANNEL. IN SUPPORT OF OUR MISSION, KING FM REACHES OUT TO A WORLD-WIDE AUDIENCE VIA ONLINE AUDIO STREAMS AND OUR SMARTPHONE APPS ALLOWING AUDIENCES FAR BEYOND THE RANGE OF OUR FM SIGNAL TO APPRECIATE AND ENJOY THE NORTHWEST'S GREAT CLASSICAL MUSIC PERFORMANCES. KING FM'S LIVE BROADCAST CAPABILITIES BRING THE MUSIC OF NORTHWEST ARTISTS FROM PERFORMANCE VENUES INTO THE HOMES OF LISTENERS. CLASSICAL 98.1 CARRIES CONCERT PRE-RECORDED BROADCASTS FEATURING SEATTLE OPERA, SEATTLE SYMPHONY, THE SEATTLE CHAMBER MUSIC SOCIETY, AND THE COMPLINE SERVICE AT ST. MARK'S CATHEDRAL AMONG OTHERS.
CLASSICAL 98.1 IS COMMITTED TO SUPPORTING THE ARTS COMMUNITY AND TO MAKING CLASSICAL MUSIC ACCESSIBLE TO ALL THROUGH NEW PARTNERSHIPS. LOCAL CLASSICAL MUSIC PERFORMING ORGANIZATIONS ARE STILL STRUGGLING IN BRINGING AUDIENCES BACK AFTER THE PANDEMIC. THIS IS IMPACTING THEIR FINANCIAL WELL-BEING AS WELL. CLASSICAL KING CONTINUES TO PROVIDE FREE AND LOW COST ANNOUNCEMENTS TO THESE ORGANIZATIONS TO HELP THEM ATTRACT AUDIENCES TO CONCERTS, EVENTS, AND EXHIBITIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brenda Barnes CEO | Officer | 40 | $221,966 |
Barbara Dolby Chief Dev Of | 40 | $131,218 | |
Rina Romero COO | 40 | $149,005 | |
Dave C Beck Announcer | 40 | $112,205 | |
Christopher T Bayley President Em | Trustee | 0.5 | $0 |
Diana Carey Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $4,099,385 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $333,312 |
| All other contributions, gifts, grants, and similar amounts not included above | $220,903 |
| Noncash contributions included in lines 1a–1f | $210,163 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,653,600 |
| Total Program Service Revenue | $314,437 |
| Investment income | $181,913 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$141 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,149,809 |
| 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. | $221,966 |
| Compensation of current officers, directors, key employees. | $16,119 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,073,999 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $230,089 |
| Payroll taxes | $203,594 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $125,875 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $253,419 |
| Advertising and promotion | $40,750 |
| Office expenses | $484,083 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $29,649 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,629 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $286,845 |
| Insurance | $51,043 |
| All other expenses | $102,277 |
| Total functional expenses | $5,329,631 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,291,113 |
| Savings and temporary cash investments | $2,870,433 |
| Pledges and grants receivable | $86,500 |
| Accounts receivable, net | $267,691 |
| 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 | $93,563 |
| Net Land, buildings, and equipment | $1,407,161 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $595,507 |
| Other assets | $1,999,982 |
| Total assets | $10,611,950 |
| Accounts payable and accrued expenses | $77,186 |
| 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 | $2,169,291 |
| Total liabilities | $2,246,477 |
| Net assets without donor restrictions | $7,463,371 |
| Net assets with donor restrictions | $902,102 |
| 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 | $10,611,950 |