CLASSICAL 981

EIN: 273067797 501(c)(3) Arts, Culture & Humanities

SEATTLE, WA

Total Revenue
$7,413,578
Total Expenses
$5,865,089
Total Assets
$12,664,966
Net Assets
$10,431,888
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2010
Principal Officer
BRENDA BARNES
Phone
2066912981
Tax Period
2024-07-01 to 2025-06-30

CLASSICAL 981, founded in 2010, is a community nonprofit in the Arts, Culture & Humanities sector that reported $7.4M in total revenue in fiscal year 2024. Revenue surged 199% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.5M, a strong 21% operating margin.

Mission

TO ACTIVELY GROW, DIVERSIFY, AND ENRICH THE LOVE OF CLASSICAL MUSIC IN OUR COMMUNITY BY PROVIDING A VOICE FOR CLASSICAL MUSIC AND THE ARTS.

Program Service Accomplishments

Program 1
Expenses: $2,517,574

CLASSICAL KING 98.1 WAS FOUNDED IN 1948 AND BECAME A PUBLIC RADIO STATION IN 2011. KING FM REACHES MORE THAN 250,000 LISTENERS EACH WEEK, OFFERING COMMERCIAL-FREE CLASSICAL MUSIC 24 HOURS A DAY OVER...

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CLASSICAL KING 98.1 WAS FOUNDED IN 1948 AND BECAME A PUBLIC RADIO STATION IN 2011. KING FM REACHES MORE THAN 250,000 LISTENERS EACH WEEK, OFFERING COMMERCIAL-FREE CLASSICAL MUSIC 24 HOURS A DAY OVER THE AIR THROUGHOUT THE PUGET SOUND REGION AND GLOBALLY VIA ONLINE STREAMS. KING FM OFFERS LOCAL CLASSICAL CONCERT BROADCASTS ANNUALLY, ENGAGES MORE THAN 16,000 DONORS, AND MOVED INTO A NEW STATE-OF-THE-ART FACILITY IN 2020. KING FM ALSO OFFERS VIDEO MUSIC CONTENT FEATURING LOCAL PERFORMERS. KING FM IS ALSO COMMITTED TO GROWING THE NEXT GENERATION OF CLASSICAL MUSIC LISTENERS, OFFERING SEVERAL MUSIC EDUCATION INITIATIVES ON-AIR, ONLINE AND IN THE COMMUNITY. OUR BOARD ADOPTED A NEW STRATEGIC FRAMEWORK IN 2020 THAT CALLS US FOR US TO MAKE SIGNIFICANT STEPS IN DIVERSIFYING OUR PROGRAMMING, OUR STAFF, AND OUR BOARD WITHIN THE NEXT FIVE YEARS. WE ARE IN THE PROCESS OF UPDATING THAT PLAN.

Program 2
Expenses: $292,294

CLASSICAL 98.1 USES A WIDE SPECTRUM OF TECHNOLOGIES TO DELIVER THE HIGHEST QUALITY EXPERIENCE ON AIR AND ONLINE. IN ADDITION TO A FULL-POWERED ANALOG FM BROADCAST SIGNAL, KING FM TRANSMITS ADDITIONAL...

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CLASSICAL 98.1 USES A WIDE SPECTRUM OF TECHNOLOGIES TO DELIVER THE HIGHEST QUALITY EXPERIENCE ON AIR AND ONLINE. IN ADDITION TO A FULL-POWERED ANALOG FM BROADCAST SIGNAL, KING FM TRANSMITS ADDITIONAL CHANNELS OF CLASSICAL MUSIC USING A STATE-OF-THE-ART HD DIGITAL SIGNAL THAT ALLOWS OVER-THE-AIR CD-QUALITY RECEPTION OF THE MAIN KING FM CHANNEL AND THE CALM BY KING CHANNEL. IN SUPPORT OF OUR MISSION, KING FM REACHES OUT TO A WORLD-WIDE AUDIENCE VIA ONLINE AUDIO STREAMS AND OUR SMARTPHONE APPS ALLOWING AUDIENCES FAR BEYOND THE RANGE OF OUR FM SIGNAL TO APPRECIATE AND ENJOY THE NORTHWEST'S GREAT CLASSICAL MUSIC PERFORMANCES. KING FM'S LIVE BROADCAST CAPABILITIES BRING THE MUSIC OF NORTHWEST ARTISTS FROM PERFORMANCE VENUES INTO THE HOMES OF LISTENERS. CLASSICAL 98.1 CARRIES CONCERT PRE-RECORDED BROADCASTS FEATURING SEATTLE OPERA, SEATTLE SYMPHONY, THE SEATTLE CHAMBER MUSIC SOCIETY, AND THE COMPLINE SERVICE AT ST. MARK'S CATHEDRAL AMONG OTHERS.

Program 3
Expenses: $977

CLASSICAL 98.1 IS COMMITTED TO SUPPORTING THE ARTS COMMUNITY AND TO MAKING CLASSICAL MUSIC ACCESSIBLE TO ALL THROUGH NEW PARTNERSHIPS. LOCAL CLASSICAL MUSIC PERFORMING ORGANIZATIONS ARE STILL...

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CLASSICAL 98.1 IS COMMITTED TO SUPPORTING THE ARTS COMMUNITY AND TO MAKING CLASSICAL MUSIC ACCESSIBLE TO ALL THROUGH NEW PARTNERSHIPS. LOCAL CLASSICAL MUSIC PERFORMING ORGANIZATIONS ARE STILL STRUGGLING IN BRINGING AUDIENCES BACK AFTER THE PANDEMIC. THIS IS IMPACTING THEIR FINANCIAL WELL-BEING AS WELL. CLASSICAL KING CONTINUES TO PROVIDE FREE AND LOW COST ANNOUNCEMENTS TO THESE ORGANIZATIONS TO HELP THEM ATTRACT AUDIENCES TO CONCERTS, EVENTS, AND EXHIBITIONS.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $6,839,267
Program Service Revenue $324,391
Investment Income $249,920
Other Revenue $0
TOTAL REVENUE $7,413,578

Expense Breakdown

Grants Paid $0
Salaries & Benefits $2,702,165
Fundraising Expenses $2,440,056
Program Expenses $2,810,845
Other Expenses $3,107,857
TOTAL EXPENSES $5,865,089

Year-over-Year Comparison

2024 2023 Change
Revenue $7,413,578 $2,477,379 +2.0%
Expenses $5,865,089 $2,380,389 +1.5%
Net Income $1,548,489 $96,990 +15.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
15
Independent Members
15
Employees
27
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$207,345
Total Directors
16
$0
Key Employees
0
$0
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRENDA BARNES CEO 40.00
Officer
$207,345 $0 $207,345
RINA ROMERO COO N/A
Highest
$161,012 $0 $161,012
MICHELLE M SIMONSEN MANAGER N/A
Highest
$155,694 $0 $155,694
DAVID C BECK ANNOUNCER N/A
Highest
$109,229 $0 $109,229
CHRISTOPHER T BAYLEY PRESIDENT EM N/A
Director
$0 $0 $0
DIANA CAREY DIRECTOR N/A
Director
$0 $0 $0
STEVEN CLIFFORD DIRECTOR N/A
Director
$0 $0 $0
SUSAN COUGHLIN DIRECTOR N/A
Director
$0 $0 $0
CHARLES DICKEY DIRECTOR N/A
Director
$0 $0 $0
JIM DUNCAN PRESIDENT N/A
Officer Director
$0 $0 $0
KEVIN FOX TREASURER N/A
Officer Director
$0 $0 $0
DIANA GAO DIRECTOR N/A
Director
$0 $0 $0
BRIAN GRANT DIRECTOR N/A
Director
$0 $0 $0
SUSAN HARMON VICE PRESIDE N/A
Officer Director
$0 $0 $0
DOUGLAS JACKSON DIRECTOR N/A
Director
$0 $0 $0
NEIL JORDAN DIRECTOR N/A
Director
$0 $0 $0
NAOMI MINEGISHI DIRECTOR N/A
Director
$0 $0 $0
JON ROSEN SECRETARY N/A
Officer Director
$0 $0 $0
MOYA VASQUEZ DIRECTOR N/A
Director
$0 $0 $0
ROB WISEMAN CHIEF ADVANC N/A
Officer Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $7,413,578 $5,865,089 $12,664,966 $1,548,489
2024 $2,477,379 $2,380,389 $10,578,745 $96,990
2023 $5,149,809 $5,329,631 $10,611,950 $-179,822
2022 $6,059,353 $4,868,425 $10,577,171 $1,190,928
2021 $5,192,189 $4,599,563 $7,691,634 $592,626
2020 $5,222,890 $4,129,251 $6,921,707 $1,093,639
2019 $7,991,072 $3,901,458 $5,759,494 $4,089,614
2018 $4,822,792 $3,895,604 $1,701,763 $927,188
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