Mid-South Public Communications Foundation
- Assets
- $12.7m
- Revenue
- $6.9m
- Investments
- $0.0
- Employees
- 42
- Location
- Cordova, TN
- Founding
- 09/1959
- Data as of
- 06/2021
- EIN
- 62-0525567
Organization Overview
Mid-South Public Communications Foundation, operating under the name Wkno Tv Fm, is located in Cordova, TN. The organization was established in 1959. According to its NTEE Classification (A30) the organization is classified as: Media & Communications, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Wkno Tv FM employed 42 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wkno Tv FM 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 06/2021, Wkno Tv FM generated $6.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $5.1m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
MID-SOUTH PUBLIC COMMUNICATIONS FOUNDATION IS A NON-PROFIT CORPORATION CREATED FOR THE PURPOSE OF ENHANCING THE EDUCATIONAL AND CULTURAL OPPORTUNITIES OF THE COMMUNITY THROUGH THE DEVELOPMENT, OWNERSHIP, AND OPERATION OF NON-COMMERCIAL RADIO AND TELEVISION STATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FM RADIO - PRODUCED AND ACQUIRED PROGRAMS FOR RADIO BROADCAST FOR THE PURPOSE OF PROVIDING NON-COMMERCIAL CLASSICAL MUSIC, LOCAL NEWS PROGRAMS, AND NATIONAL NEWS SERVICES. WE ALSO PROVIDE AIR-TIME FOR LOCAL COMMUNITY AND CULTURAL ORGANIZATIONS TO DISCUSS AND PROMOTE THEIR COMMUNITY PROGRAMS AND SERVICES.
TELEVISION BROADCASTING - PRODUCED AND ACQUIRED PROGRAMS FOR NON-COMMERCIAL, EDUCATIONAL PUBLIC TELEVISION BROADCASTING, COORDINATED INSTRUCTIONAL LITERACY PROGRAMS, AND PROVIDED COMMUNITY INFORMATION FOR THE PURPOSES OF ENHANCING EDUCATIONAL AND CULTURAL OPPORTUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Mclarty President & CEO | OfficerTrustee | 40 | $106,781 |
Dr Craig Esrael Board Vice-Chair | Officer | 1 | $0 |
Paul Mattews Board Secretary | Officer | 1 | $0 |
Molly Wexler Trustee | Trustee | 1 | $0 |
Dr Tyrone Burroughs Trustee | Trustee | 1 | $0 |
Ward Mayer Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,095,813 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,889,717 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,985,530 |
| Total Program Service Revenue | $82,232 |
| Investment income | $35,629 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $188,339 |
| Net Rental Income | $379,745 |
| Net Gain/Loss on Asset Sales | $82,951 |
| Net Income from Fundraising Events | $7,734 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,880,659 |
| 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. | $215,400 |
| Compensation of current officers, directors, key employees. | $107,700 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,552,904 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $227,800 |
| Payroll taxes | $131,052 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,408 |
| Fees for services: Accounting | $27,807 |
| Fees for services: Lobbying | $29,914 |
| Fees for services: Fundraising | $66,639 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $62,776 |
| Advertising and promotion | $9,000 |
| Office expenses | $235,459 |
| Information technology | $52,932 |
| Royalties | $0 |
| Occupancy | $181,104 |
| Travel | $6,848 |
| 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 | $272,016 |
| Insurance | $14,859 |
| All other expenses | $0 |
| Total functional expenses | $5,111,622 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,250,377 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $549,204 |
| Accounts receivable, net | $79,038 |
| 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 | $17,353 |
| Net Land, buildings, and equipment | $7,681,454 |
| Investments—publicly traded securities | $2,095,644 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,673,070 |
| Accounts payable and accrued expenses | $117,569 |
| Grants payable | $0 |
| Deferred revenue | $4,532 |
| 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 | $0 |
| Total liabilities | $122,101 |
| Net assets without donor restrictions | $10,456,359 |
| Net assets with donor restrictions | $2,094,610 |
| 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 | $12,673,070 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Mid-South Public Communications Foundation has recieved totaling $154,377.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Greater Memphis Inc Memphis, TN PURPOSE: GENERAL OPERATIONAL SUPPORT | $114,387 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $13,840 |
Greater Washington Educational Telecommunications Association Inc Arlington, VA PURPOSE: STATION GRANT | $10,000 |
Gilliland Family Fund Inc Memphis, TN PURPOSE: GENERAL OPERATIONAL SUPPORT | $10,000 |
Community Foundation Of Northwest Mississippi Inc Hernando, MS PURPOSE: EDUCATION | $5,250 |
Pfizer Foundation Inc New York, NY PURPOSE: MATCHING GIFTS | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Atlanta Educational Telecommunications Collaborative Atlanta, GA | $9,527,387 | $16,413,589 |
States Newsroom Chapel Hill, NC | $13,800,464 | $21,635,211 |
Wireless Infrastructure Association Arlington, VA | $5,735,220 | $13,503,985 |
The Landmark Foundation Norfolk, VA | $109,541,807 | $6,787,493 |
Memphis Fourth Estate Inc Memphis, TN | $2,591,759 | $5,585,999 |
Mid-South Public Communications Foundation Cordova, TN | $12,673,070 | $6,880,659 |
The Center For Documentary Studies Durham, NC | $43,603,036 | $4,787,381 |
Journalism For Change Inc Arlington, VA | $491,394 | $3,913,277 |
Mennomedia Inc Harrisonburg, VA | $1,388,799 | $3,143,696 |
Partners For Christian Media Inc Chattanooga, TN | $2,733,948 | $3,141,174 |
Community Television Inc Norcross, GA | $3,699,160 | $2,176,174 |
Mississippi News And Information Corp Ridgeland, MS | $2,531,175 | $2,545,161 |