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KPFA/Pacifica: YTD Financial Summary
Just to make this easy for people to find: I know people feel like it's hard to find this stuff on KPFA or Pacifica's websites.
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It's a year-to-date summary (just one page) for the period 9-30-2012 to 7-31-2013. Our local station KPFA has an operating deficit of ($110,000) for the year so far, which is not great, but smaller than it was for the period 2009-2010. The Pacifica Foundation as a whole is in rocky shape with none of the five stations posting a surplus. KPFA is in the 3rd position of the 5 stations. Shared network expenses were not paid by the two East Coast stations, WBAI (which posted a 500K deficit for the 10th straight year, helped along mightily by Hurricane Sandy and the flooding of the studio and office) and recently laid off 75% of their workforce to try to stem the long bleed, and WPFW in DC, which has been having trouble meeting its revenue targets.
The need to pay some expenses for those 2 stations to keep them going while not receiving their contributions for the shared network expenses, has caused a big financial strain for the national organization.
It's to be hoped the East Coast stations will start to stabilize soon and the West Coast stations will move from their deficit positions to posting positive results and building back cash reserves of 2-3 months of operating expenses. Neither has that now, so the deficits are worrisome.
Just posted for transparency purposes.