Chicago Public Media Inc
- Assets
- $115.9m
- Revenue
- $33.8m
- Investments
- $0.0
- Employees
- 200
- Location
- Chicago, IL
- Founding
- 03/1994
- Data as of
- 06/2024
- EIN
- 36-3687394
Organization Overview
Chicago Public Media Inc is located in Chicago, IL. The organization was established in 1994. 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 06/2024, Chicago Public Media Inc employed 200 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chicago Public Media 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 06/2024, Chicago Public Media Inc generated $33.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $30.1m during the year ending 06/2024. While expenses have increased by 3.6% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
CHICAGO PUBLIC MEDIA'S MISSION IS TO STRENGTHEN THE WELL-BEING OF OUR LOCAL COMMUNITIES AND OUR DEMOCRACY THROUGH INDEPENDENT LOCAL JOURNALISM. CHICAGO PUBLIC MEDIA PRODUCES ACCESSIBLE, TRUSTED NEWS, INFORMATION AND PROGRAMMING THAT HELPS ALL CHICAGO AREA RESIDENTS MAKE INFORMED DECISIONS EVERY DAY, PARTICIPATE IN OUR DIVERSE COMMUNITIES AND MAKE THE MOST OF OUR REGION.
Describe the Organization's Program Activity:
CHICAGO PUBLIC MEDIA, INC. IS A 501(C)(3) CHARITABLE ORGANIZATION THAT SERVES THE PUBLIC INTEREST BY PRODUCING AND DELIVERING DIVERSE, COMPELLING CONTENT OF MULTIPLE VIEWPOINTS AND EXPRESSION. CHICAGO PUBLIC MEDIA BROADCASTS ITS SERVICE ON FOUR NON-COMMERCIAL FM RADIO STATIONS: WBEZ 91.5 FM IN CHICAGO, WBEQ 90.7 FM IN MORRIS, 91.7 FM (W219CD) IN ELGIN, ILLINOIS, AND WBEK 91.1 FM IN KANKAKEE, ILLINOIS; DIGITALLY VIA WBEZ.ORG, SMART SPEAKERS, MOBILE APPS, PODCASTS AND IN LIVE EVENTS THAT GENERATE CONVERSATIONS ACROSS COMMUNITIES.
CHICAGO PUBLIC MEDIA OPERATES VOCALO, A PUBLIC MEDIA ON-LINE/ON-AIR SERVICE, ON 91.1 FM WHICH IS BROADCAST ON WBEW 89.5 FM IN CHESTERTON, INDIANA, AND ON 91.1 FM (W216CL) IN CHICAGO, ILLINOIS, ONLINE AT VOCALO.ORG, AND SYNDICATED ON MULTIPLE STATIONS AROUND CHICAGOLAND. VOCALO WAS ESTABLISHED AS AN INSPIRATIONAL BRAND THAT CELEBRATES OUR CITY'S CULTURAL DIVERSITY AND BRINGS THE COMMUNITY TOGETHER AROUND MUSIC - SPECIFICALLY, THE URBAN ALTERNATIVE FORMAT. IN MAY 2024, VOCALO CEASED ITS LIVE BROADCAST BUT CONTINUES TO HAVE PRE-PROGRAMMED CONTENT ON ITS BROADCAST AND STREAM WHILE CHICAGO PUBLIC MEDIA CONSIDERS THE NEXT STEPS FOR THE LICENSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Piyush Chaudhari To 923 Board Chair | OfficerTrustee | 1 | $0 |
Robert Pasin Beg 923 Board Chair | OfficerTrustee | 1 | $0 |
Adrienne King Beg 923 Vice Chair | OfficerTrustee | 1.25 | $0 |
Dilnaz A Waraich To 1123 Secretary | OfficerTrustee | 1 | $0 |
Raymond E Crossmanphd Secretary (beg. 9/23) | OfficerTrustee | 1 | $0 |
Nivine Megahed PHD Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Skender Construction Llc General Contractor | 6/29/24 | $2,589,251 |
Market Enginuity Underwriting Account Executives | 6/29/24 | $1,242,768 |
V Three Studios Llc Architectural Services | 6/29/24 | $260,847 |
Jones Day Legal Services | 6/29/24 | $221,333 |
Vsa Partners Llc Consulting Services | 6/29/24 | $106,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $12,957,133 |
| Fundraising events | $1,409,689 |
| Related organizations | $0 |
| Government grants | $1,699,116 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,100,929 |
| Noncash contributions included in lines 1a–1f | $1,180,473 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $28,166,867 |
| Total Program Service Revenue | $1,879,483 |
| Investment income | $2,526,366 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $344,800 |
| Net Rental Income | $168,497 |
| Net Gain/Loss on Asset Sales | $803,688 |
| Net Income from Fundraising Events | -$137,215 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $33,752,486 |
| 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. | $1,786,707 |
| Compensation of current officers, directors, key employees. | $906,477 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,256,666 |
| Pension plan accruals and contributions | $343,726 |
| Other employee benefits | $1,394,447 |
| Payroll taxes | $1,145,695 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $225,347 |
| Fees for services: Accounting | $80,169 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $130,549 |
| Fees for services: Other | $3,214,513 |
| Advertising and promotion | $913,072 |
| Office expenses | $852,386 |
| Information technology | $948,892 |
| Royalties | $0 |
| Occupancy | $566,936 |
| Travel | $170,362 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $64,571 |
| Interest | $672,361 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,712,431 |
| Insurance | $206,256 |
| All other expenses | -$418,622 |
| Total functional expenses | $30,095,463 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,836,991 |
| Savings and temporary cash investments | $817 |
| Pledges and grants receivable | $6,154,614 |
| Accounts receivable, net | $861,089 |
| 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 | $500,599 |
| Net Land, buildings, and equipment | $21,532,823 |
| Investments—publicly traded securities | $77,048,579 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,360,513 |
| Other assets | $3,622,663 |
| Total assets | $115,918,688 |
| Accounts payable and accrued expenses | $3,484,579 |
| Grants payable | $0 |
| Deferred revenue | $76,091 |
| Tax-exempt bond liabilities | $21,858,853 |
| 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 | $2,472,222 |
| Other liabilities | $13,047,863 |
| Total liabilities | $40,939,608 |
| Net assets without donor restrictions | $49,570,026 |
| Net assets with donor restrictions | $25,409,054 |
| 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 | $115,918,688 |