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KZYX Financial Update: We Are In The Black.

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on Wednesday, 20 November 2013 in Station Business

We have received our fall grants from the CPB and we have banked most of the fall pledge drive.  Our line of credit was fully paid off before we got the CPB money.  As it sits right now, we have enough money in the bank to pay every one of our bills and every penny of our past debts ($28K as of today) and still have more than $40K left over.

That's right - KZYX has never been in better financial shape than it is right now. 

So, in case you have read certain claims to the contrary in various local papers, we are not failing.  Far from it. 

And nobody has mislead you, or anyone else, about our financial condition.  It was claimed that I overstated how well we did last year and that this year would be worse because I didn't disclose that we wouldn't be receiving as much grant money this year.  That claim was simply false.

We finished last fiscal year (June 30) at about even because we paid $116K in back debts.  This summer we had very difficult cash flow issues.  But we got through well enough to the fall pledge drive, which went very well.  When all was said and done we reached about $105K in that drive, of which we have already collected more than $70K.  We paid off the line of credit.  Now we will pay off a ton of lingering bills.  We could even pay our old debts, but since that has been amortized into a no-interest loan, it doesn't make much sense to do it and risk not having enough money later this winter.

But this does not mean that we have nothing to worry about.  We will have to have a strong fundraiser later in the winter and a very good spring pledge drive, in order to not fall back.

And next year the CPB is going to give us a lot smaller grant - more than $30K less - because they have changed their formula for qualifying for what they call a "minority service" designation.  

So, things are going well now.  Thanks to you who support us, we are not going straight into rock-bottom survival mode.  But the fact remains that in order to do all of the things everyone wants - new studio in Ukiah, much fuller news offering, the return of beloved old programs and more, we are going to have to have these good years be the norm, rather than the exception.

So, if you listen and don't contribute...despite this good news, please do your part.  And if you do, thanks again.

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MCPB Board of Directors

Welcome our new board members, Jonathan Middlebrook (1st District); John Azzaro (At-Large); and Stuart Cambell (Programmer-Elect.

Upcoming summer meetings will be posted here shortly.



Get The KZYX App For Your iPhone

Go to the Apple App Store on your iPhone or iPad and search for KZYX.  The app is free of charge.  It's a great way to get the live stream, the KZYX Jukebox, this website and to make a donation.  Follow this link for a preview and easy access to the download.  Or if you want to type it out here is the URL: https://itunes.apple.com/us/app/kzyx/id998145015?mt=8

KZYX Phone Numbers

Business office 707-895-2324

Philo studio 707-895-2448

Willits studio 707-456-9991

Mendocino studio 707-937-5103

KZYX Underwriting

KZYX doesn’t play commercials but we do have underwriting, which is very different from advertising. It is a great way to support KZYX and in exchange we will let our listeners know what goods and services your organization offers.

For questions about underwriting on KZYX, call (707) 895-2324 or email uw [at] kzyx [dot] org

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