Florida West Coast Public Broadcasting Inc
- Assets
- $43.4m
- Revenue
- $16.4m
- Investments
- $4.1m
- Employees
- 55
- Location
- Tampa, FL
- Founding
- 05/1959
- Data as of
- 09/2023
- EIN
- 59-0840626
Organization Overview
Florida West Coast Public Broadcasting Inc, operating under the name Wedu, is located in Tampa, FL. The organization was established in 1959. According to its NTEE Classification (A32) the organization is classified as: Television, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 09/2023, Wedu employed 55 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wedu 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 09/2023, Wedu generated $16.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.7% each year. All expenses for the organization totaled $12.6m during the year ending 09/2023. While expenses have increased by 5.2% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
WEDU IS A PUBLIC MEDIA RESOURCE THAT USES STORYTELLING AND COMMUNITY (SEE SCHEDULE O, PAGE 40)ENGAGEMENT TO CREATE A MORE INFORMED PUBLIC.
Describe the Organization's Program Activity:
WEDU STANDS AS THE LARGEST PBS STATION IN FLORIDA, BROADCASTING 52,560 HOURS OF COMMERCIAL-FREE TELEVISION EACH YEAR ACROSS SIX CHANNELS, REACHING 6.4 MILLION FLORIDIANS. ADDITIONALLY, WEDU ENGAGES AUDIENCES DIGITALLY THROUGH VIDEO STREAMING, DIGITAL AND SOCIAL MEDIA PLATFORMS, AND OFFERS EXTENSIVE EDUCATIONAL RESOURCES. THOUGHTFUL IN ITS STORYTELLING, WEDU AMPLIFIES LOCAL VOICES AND DELVES INTO TOPICS IMPACTING OUR COMMUNITY, COUNTRY, AND THE WORLD. BY BRINGING TOGETHER DIVERSE VOICES, WE FACILITATE CONVERSATIONS THROUGH EVENTS AND OUTREACH, ADDRESSING IMPORTANT ISSUES AND SPARKING DIALOGUE (SEE SCHEDULE O).WEDU'S DEDICATED FOCUS ON THE LOCAL COMMUNITY HAS EARNED THE STATION A REPUTATION AS A BEACON OF TRUST FOR INDIVIDUALS FROM ALL LEVELS OF SOCIETY, REGARDLESS OF AGE, ETHNICITY, OR SOCIO-ECONOMIC STATUS. WEDU IS A CHERISHED COMMUNITY RESOURCE, SERVING AS A WINDOW TO THE WORLD FOR THE HOMEBOUND AND A VITAL EDUCATIONAL SOURCE FOR THE YOUNGEST MEMBERS OF SOCIETY. IN 2023, OUR EFFORTS GARNERED CRITICAL ACCLAIM, WITH TEN SUNCOAST REGIONAL EMMY NOMINATIONS AND FOUR WINS, ALONG WITH THREE PRESTIGIOUS NETA PUBLIC MEDIA NOMINATIONS, INCLUDING A VICTORY FOR "LAST TO ASK. NOTABLY, WEDU PRODUCED COMPELLING PROGRAMS SUCH AS A HISTORICAL EXPLORATION OF SARASOTA IN "THE SARASOTA EXPERIENCE," A RIVETING ACCOUNT OF THE TAMPA BAY RAYS IN "RISE OF THE RAYS, AND DIGITAL CONTENT FROM OUR ENVIRONMENTALLY FOCUSED SUSTAIN INITIATIVE.WEDU'S EDUCATION PROGRAMMING AND OUTREACH INITIATIVES FOR PK-12 STUDENTS CONTINUE TO STAND AS A TRUSTED RESOURCE FOR PARENTS AND EDUCATORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan C Bomstein Board Chair | OfficerTrustee | 2 | $0 |
Garrett Shinn Board Treasurer | OfficerTrustee | 2 | $0 |
Jeff Sparling Board Vice Chair | OfficerTrustee | 2 | $0 |
Jennifer Williams Board Secretary | OfficerTrustee | 2 | $0 |
Suzanne Oaks Brownstein Immediate Past Chair | OfficerTrustee | 2 | $0 |
Jean Martin Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Donor Development Strategies Llc Canvassing Services | 9/29/15 | $322,721 |
Dmw Worldwide Llc Donor Mailings | 9/29/15 | $105,163 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,624,782 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,544,891 |
| Noncash contributions included in lines 1a–1f | $196,257 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,169,673 |
| Total Program Service Revenue | $1,109,233 |
| Investment income | $805,527 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,227,234 |
| Net Gain/Loss on Asset Sales | $96,959 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,408,626 |
| 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. | $840,708 |
| Compensation of current officers, directors, key employees. | $118,745 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,226,043 |
| Pension plan accruals and contributions | $119,041 |
| Other employee benefits | $291,733 |
| Payroll taxes | $397,661 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,116 |
| Fees for services: Accounting | $63,425 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $156,509 |
| Fees for services: Other | $0 |
| Advertising and promotion | $618,402 |
| Office expenses | $697,641 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $480,857 |
| Travel | $142,262 |
| 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 | $606,965 |
| Insurance | $179,674 |
| All other expenses | $0 |
| Total functional expenses | $12,625,430 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $185 |
| Savings and temporary cash investments | $754,892 |
| Pledges and grants receivable | $87,929 |
| Accounts receivable, net | $167,431 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $11,096 |
| Prepaid expenses and deferred charges | $230,298 |
| Net Land, buildings, and equipment | $4,929,244 |
| Investments—publicly traded securities | $33,005,766 |
| Investments—other securities | $4,135,899 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $51,289 |
| Total assets | $43,374,029 |
| Accounts payable and accrued expenses | $1,736,557 |
| Grants payable | $0 |
| Deferred revenue | $122,500 |
| 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 | $7,117 |
| Total liabilities | $1,866,174 |
| Net assets without donor restrictions | $35,436,359 |
| Net assets with donor restrictions | $6,071,496 |
| 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 | $43,374,029 |