CHICAGO PUBLIC MEDIA INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1989

Legal Domicile

Principal Officer

MELISSA BELL

Phone

3129484600

Tax Period

2023-07-01 to 2024-06-30

CHICAGO PUBLIC MEDIA INC, founded in 1989, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $33.8M in total revenue in fiscal year 2023. Revenue decreased 13% compared to the prior year. Expenses of $30.1M left a modest 11% surplus.

Mission

CHICAGO PUBLIC MEDIA'S MISSION IS TO STRENGTHEN THE WELL-BEING OF OUR LOCAL COMMUNITIES AND OUR DEMOCRACY THROUGH INDEPENDENT LOCAL JOURNALISM. CHICAGO PUBLIC MEDIA PRODUCES ACCESSIBLE, TRUSTED NEWS, INFORMATION AND PROGRAMMING THAT HELPS ALL CHICAGO AREA RESIDENTS MAKE INFORMED DECISIONS EVERY DAY, PARTICIPATE IN OUR DIVERSE COMMUNITIES AND MAKE THE MOST OF OUR REGION.

Program Service Accomplishments

Program 1

Expenses: $19,119,984 Revenue: $1,355,548

CHICAGO PUBLIC MEDIA, INC. IS A 501(C)(3) CHARITABLE ORGANIZATION THAT SERVES THE PUBLIC INTEREST BY PRODUCING AND DELIVERING DIVERSE, COMPELLING CONTENT OF MULTIPLE VIEWPOINTS AND EXPRESSION...

CHICAGO PUBLIC MEDIA, INC. IS A 501(C)(3) CHARITABLE ORGANIZATION THAT SERVES THE PUBLIC INTEREST BY PRODUCING AND DELIVERING DIVERSE, COMPELLING CONTENT OF MULTIPLE VIEWPOINTS AND EXPRESSION. CHICAGO PUBLIC MEDIA BROADCASTS ITS SERVICE ON FOUR NON-COMMERCIAL FM RADIO STATIONS: WBEZ 91.5 FM IN CHICAGO, WBEQ 90.7 FM IN MORRIS, 91.7 FM (W219CD) IN ELGIN, ILLINOIS, AND WBEK 91.1 FM IN KANKAKEE, ILLINOIS; DIGITALLY VIA WBEZ.ORG, SMART SPEAKERS, MOBILE APPS, PODCASTS AND IN LIVE EVENTS THAT GENERATE CONVERSATIONS ACROSS COMMUNITIES.

Program 2

Expenses: $543,768

CHICAGO PUBLIC MEDIA OPERATES VOCALO, A PUBLIC MEDIA ON-LINE/ON-AIR SERVICE, ON 91.1 FM WHICH IS BROADCAST ON WBEW 89.5 FM IN CHESTERTON, INDIANA, AND ON 91.1 FM (W216CL) IN CHICAGO, ILLINOIS, ONLINE AT VOCALO.ORG, AND SYNDICATED ON MULTIPLE STATIONS AROUND CHICAGOLAND. VOCALO WAS ESTABLISHED AS AN INSPIRATIONAL BRAND THAT CELEBRATES OUR CITY'S CULTURAL DIVERSITY AND BRINGS THE COMMUNITY TOGETHER AROUND MUSIC - SPECIFICALLY, THE URBAN ALTERNATIVE FORMAT. IN MAY 2024, VOCALO CEASED ITS LIVE BROADCAST BUT CONTINUES TO HAVE PRE-PROGRAMMED CONTENT ON ITS BROADCAST AND STREAM WHILE CHICAGO PUBLIC MEDIA CONSIDERS THE NEXT STEPS FOR THE LICENSE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $28,166,867

Program Service Revenue $1,879,483

Investment Income $3,330,054

Other Revenue $376,082

TOTAL REVENUE $33,752,486

Expense Breakdown

Grants Paid $0

Salaries & Benefits $17,927,241

Fundraising Expenses $6,450,856

Program Expenses $19,663,752

Other Expenses $12,168,222

TOTAL EXPENSES $30,095,463

Year-over-Year Comparison

	2023	2022	Change
Revenue	$33,752,486	$38,697,858	-0.1%
Expenses	$30,095,463	$29,952,071	+0.0%
Net Income	$3,657,023	$8,745,787	-0.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

200

Volunteers

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

$1,466,206

Total Directors

Key Employees

$1,245,924

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PIYUSH CHAUDHARI TO 923	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
ROBERT PASIN BEG 923	BOARD CHAIR	1.00	Officer Director	$0	$0	$0
ADRIENNE KING BEG 923	VICE CHAIR	1.25	Officer Director	$0	$0	$0
DILNAZ A WARAICH TO 1123	SECRETARY	1.00	Officer Director	$0	$0	$0
RAYMOND E CROSSMANPHD	SECRETARY (BEG. 9/23)	1.00	Officer Director	$0	$0	$0
NIVINE MEGAHED PHD	TREASURER	1.00	Officer Director	$0	$0	$0
ROBERT AGUILAR BEG 623	DIRECTOR	1.00	Director	$0	$0	$0
MARCY CARLIN TO 823	DIRECTOR	1.00	Director	$0	$0	$0
HOWARD CONANT JR	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS FISHER JR MD	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM A GEE IV	DIRECTOR	1.00	Director	$0	$0	$0
KIMBERLEY GOODE	DIRECTOR	1.00	Director	$0	$0	$0
BRUCE HEYMAN	DIRECTOR	1.00	Director	$0	$0	$0
ROGER HOCHSCHILD	DIRECTOR	1.00	Director	$0	$0	$0
LERRY J KNOX JR	DIRECTOR	1.25	Director	$0	$0	$0
CHARLES LEWIS	DIRECTOR	1.00	Director	$0	$0	$0
LISA MORRISON BUTLER	DIRECTOR	1.00	Director	$0	$0	$0
SYLVIA NEIL TO 623	DIRECTOR	1.00	Director	$0	$0	$0
KEDRA NEWSOM	DIRECTOR	1.00	Director	$0	$0	$0
JULIAN POSADA	DIRECTOR	1.00	Director	$0	$0	$0
PAUL RAND	DIRECTOR	1.00	Director	$0	$0	$0
MATT RICHARDSON BEG 623	DIRECTOR	1.00	Director	$0	$0	$0
BILL RUDNICK	DIRECTOR	1.00	Director	$0	$0	$0
BERNARDO SICHEL	DIRECTOR	1.00	Director	$0	$0	$0
JESSICA SIEJA	DIRECTOR	1.00	Director	$0	$0	$0
DAVID SINSKI BEG 923	DIRECTOR	1.00	Director	$0	$0	$0
ELIZABETH THOMPSON	DIRECTOR	1.00	Director	$0	$0	$0
LAURA VAN PEENAN	DIRECTOR	1.00	Director	$0	$0	$0
ANDREA WISHOM BEG 623	DIRECTOR	1.00	Director	$0	$0	$0
MATTHEW MOOG	CEO	21.00	Officer	$685,767	$37,094	$722,861
RINA DEDHIA	CFO	24.00	Officer	$372,453	$38,335	$410,788
CYNTHIA PHOTOS ABBOTT	VP, GENERAL COUNSEL	20.00	Officer	$303,260	$29,297	$332,557
LUCY KIM	CHIEF ADVANCEMENT OFFICER	32.00	Key Emp	$351,046	$33,441	$384,487
TRACY BROWN	CHIEF CONTENT OFFICER	28.00	Key Emp	$320,058	$19,986	$340,044
CELESTE LECOMPTE	CHIEF AUDIENCE OFFICER	20.00	Key Emp	$265,740	$26,723	$292,463
ELIZABETH BERGER	VP OF COMMUNICATIONS	22.00	Key Emp	$197,025	$31,905	$228,930
STEPHEN WRIGHT	VP OF TECHNOLOGY AND OPERATIONS	33.00	Highest	$248,293	$17,739	$266,032
DEBRA CHAMRA	VP OF ACCOUNTING	32.00	Highest	$218,845	$25,114	$243,959
AMY WIELUNSKI	VP OF MEMBERSHIP	30.00	Highest	$182,268	$15,191	$197,459
HEIDI GOLDFEIN	VP OF PROGRAMMING	40.00	Highest	$170,724	$30,803	$201,527
ARIEL VAN CLEAVE	MANAGING EDITOR, AUDIO NEWS	40.00	Highest	$145,089	$13,458	$158,547
VALERIE TONEY PARKER TO 1122	CHIEF PEOPLE OFFICER	0.00		$112,500	$4,290	$116,790

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	No data	No data	No data	No data
2024	$33,752,486	$30,095,463	$115,918,688	$3,657,023
2023	$38,697,858	$29,952,071	$105,531,134	$8,745,787
2022	$32,290,439	$28,483,479	$91,335,229	$3,806,960
2021	$37,246,182	$27,245,996	$93,763,608	$10,000,186
2020	$28,816,283	$29,795,613	$86,332,987	$-979,330
2019	$33,719,809	$29,158,839	$77,712,320	$4,560,970