VPM MEDIA CORPORATION

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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

1964

Legal Domicile

Principal Officer

JAYME SWAIN

Phone

8043201301

Tax Period

2024-07-01 to 2025-06-30

VPM MEDIA CORPORATION, founded in 1964, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $19.8M in total revenue in fiscal year 2024. Revenue decreased 12% compared to the prior year. Expenses of $22.5M exceeded revenue, resulting in a 14% operating deficit.

Mission

TO USE THE POWER OF MEDIA TO EDUCATE, ENTERTAIN AND INSPIRE, USING PUBLIC TELEVISION AND PUBLIC RADIO TO MAKE A POSITIVE IMPACT ON THE COMMUNITIES THROUGHOUT CENTRAL VIRGINIA, CHARLOTTESVILLE, THE SHENANDOAH VALLEY, THE NORTHERN NECK AND MECKLENBURG COUNTY REGIONS.

Program Service Accomplishments

Program 1

Expenses: $335,616

EDUCATIONAL ENGAGEMENT: VPM EARLY CHILDHOOD CARE & EDUCATION PROGRAM WORKS WITH MORE THAN 50 COMMUNITY PARTNERS IN THE GREATER RICHMOND, CHARLOTTESVILLE, AND HARRISONBURG COMMUNITIES TO HELP FAMILIES AND CAREGIVERS PREPARE YOUNG CHILDREN AGES 0-8 FOR SUCCESS IN SCHOOL. FOCUSING ON FAMILIES WHO ARE THE FURTHEST FROM OPPORTUNITY. SCIENCE MATTERS WORKS WITH OVER 50 COMMUNITY PARTNERS IN THE GREATER RICHMOND, CHARLOTTESVILLE, AND HARRISONBURG COMMUNITIES TO ENCOURAGE K-12 STUDENTS, TEACHER, PARENTS AND THE GENERAL PUBLIC TO VALUE SCIENCE AND UNDERSTAND ITS IMPORTANCE TO OUR FUTURE.

Program 2

Expenses: $11,014,173 Revenue: $13,359,804

PUBLIC TELEVISION: VPM CONNECTS NEARLY 2 MILLION PEOPLE ACROSS CENTRAL VIRGINIA AND THE SHENANDOAH VALLEY TO INSIGHTFUL PROGRAMMING IN ARTS AND CULTURE, HISTORY, SCIENCE, NEWS AND EDUCATION. IN...

PUBLIC TELEVISION: VPM CONNECTS NEARLY 2 MILLION PEOPLE ACROSS CENTRAL VIRGINIA AND THE SHENANDOAH VALLEY TO INSIGHTFUL PROGRAMMING IN ARTS AND CULTURE, HISTORY, SCIENCE, NEWS AND EDUCATION. IN RICHMOND, CHARLOTTESVILLE AND THE HARRISONBURG AREA, VPM OPERATES PUBLIC TELEVISION STATIONS VPM PBS, VPM PLUS, VPM PBS KIDS, LIFESTYLE CHANNEL VPM CREATE AND INTERNATIONAL PROGRAM CHANNEL VPM WORLD.

Program 3

Expenses: $3,474,720 Revenue: $3,095,308

PUBLIC RADIO: VPM OPERATES RICHMOND PUBLIC RADIO STATIONS VPM NEWS (WCVE 88.9 FM) AND VPM MUSIC (WWBT 107.3 FM, WWLB 93.1 FM AND 88.9-HD2), AS WELL AS MIXED FORMAT STATIONS IN THE NORTHERN NECK (WCNV 89.1 FM) AND SOUTHSIDE VIRGINIA (WMVE 90.1 FM). FROM ITS RICHMOND-AREA NEWSROOM, VPM NEWS DELIVERS COVERAGE OF STATEWIDE POLITICS, LOCAL GOVERNMENT, EDUCATION AND LEGAL ISSUES, AS WELL AS THE NEWS OF THE DAY FROM NPR. VPM MUSIC IS HOME TO A 24/7 BLEND OF CLASSICAL, JAZZ AND WORLD MUSIC.

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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 (2024)

Revenue Breakdown

Contributions & Grants $17,084,936

Program Service Revenue $1,128,957

Investment Income $983,637

Other Revenue $572,787

TOTAL REVENUE $19,770,317

Expense Breakdown

Grants Paid $1,494,472

Salaries & Benefits $10,401,743

Fundraising Expenses $2,089,205

Program Expenses $14,824,509

Other Expenses $10,557,226

TOTAL EXPENSES $22,453,441

Year-over-Year Comparison

	2024	2023	Change
Revenue	$19,770,317	$22,494,669	-0.1%
Expenses	$22,453,441	$21,786,149	+0.0%
Net Income	$-2,683,124	$708,520	-4.8%

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

118

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

$1,779,128

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
NUPA AGARWAL	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD DIEMER	DIRECTOR	2.00	Director	$0	$0	$0
PHILIP GOODPASTURE	DIRECTOR	1.00	Director	$0	$0	$0
VANN GRAVES	DIRECTOR	1.00	Director	$0	$0	$0
DENNIS A MCGAUGH	DIRECTOR	1.00	Director	$0	$0	$0
ENJOLI MOON	DIRECTOR	1.00	Director	$0	$0	$0
PATRICIA BRADBY MOORE	DIRECTOR	1.00	Director	$0	$0	$0
DAVE PAULSON	DIRECTOR	1.00	Director	$0	$0	$0
TASSIE PIPPERT	DIRECTOR	2.00	Director	$0	$0	$0
KAREN SKIDMORE	DIRECTOR	2.00	Director	$0	$0	$0
LINDA TISSIERE	DIRECTOR	1.00	Director	$0	$0	$0
J R SNOW	DIRECTOR	1.00	Director	$0	$0	$0
EBONY WALDEN	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL WILLIAMS	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL WOODFOLK	DIRECTOR	1.00	Director	$0	$0	$0
IRENE CARNEY	CHAIR OF THE BOARD	2.00	Officer Director	$0	$0	$0
PATTY MERRILL	VICE-CHAIR OF THE BOARD	2.00	Officer Director	$0	$0	$0
JAYME SWAIN	PRESIDENT AND CEO	40.00	Officer	$434,888	$29,077	$463,965
DANIEL SMYTHE	CHIEF INVESTMENT OFFICER	40.00	Officer	$295,203	$29,440	$324,643
STEVE HUMBLE	CHIEF CONTENT OFFICER	40.00	Officer	$426,355	$37,500	$463,855
GARY OMETER	CFO	40.00	Officer	$269,343	$24,369	$293,712
MEG GARNER	CHIEF OPERATING OFFICER	40.00	Officer	$224,038	$8,915	$232,953
ANGELA KING	NEWS ANCHOR	40.00	Highest	$149,555	$5,585	$155,140
LAUREN BELL	DIRECTOR, BUSINESS SPONSOR	40.00	Highest	$143,060	$20,684	$163,744
ELLEN S TAIT	VP DEVELOPMENT & MARKETING	40.00	Highest	$147,833	$25,040	$172,873
HARRY ORELL	VP, TECHNOLOGY	40.00	Highest	$139,457	$14,949	$154,406

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	$19,770,317	$22,453,441	$27,540,374	$-2,683,124
2024	No data	No data	No data	No data
2023	$24,810,752	$26,086,743	$28,943,020	$-1,275,991
2022	$24,921,113	$30,659,508	$30,263,750	$-5,738,395
2021	$23,558,151	$20,764,016	$41,400,162	$2,794,135
2020	$20,374,683	$22,966,827	$38,422,377	$-2,592,144
2018	$13,685,858	$13,713,423	$42,277,898	$-27,565
2018	$13,685,858	$13,713,423	$42,277,898	$-27,565