SHENANDOAH VALLEY EDUCATIONAL TELEVISION CORP

EIN: 540785147 501(c)(3)

HARRISONBURG, VA

Total Revenue
$1,215,258
Total Expenses
$1,436,300
Total Assets
N/A
Net Assets
N/A
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1968
Legal Domicile
VA
Principal Officer
JAYME SWAIN
Phone
8003459878
Tax Period
2017-07-01 to 2018-06-30

SHENANDOAH VALLEY EDUCATIONAL TELEVISION CORP, founded in 1968, is a community nonprofit that reported $1.2M in total revenue in fiscal year 2017. Revenue fell 88% from the prior year — a significant decline worth monitoring. Expenses of $1.4M exceeded revenue, resulting in a 18% operating deficit.

Mission

WVPT IS THE PUBLIC MEDIA INFORMATION PORTAL THAT CONNECTS ALL PARTS OF THE COMMUNITY AND PROMOTES OUR WELL-BEING BY TELLING OUR STORIES, CAPTURING OUR IMAGINATION, AND BY WORKING TO STRENGTHEN OUR CONNECTIONS.

Program Service Accomplishments

Program 1
Expenses: $222,549 Revenue: $150,932

PROGRAMMING AND PRODUCTION: WVPT FIRST AIRED ON SEPTEMBER 9, 1968. INITIAL BROADCAST WAS FROM 9:30 AM TO 3:30 PM WEEKDAYS WITH INSTRUCTIONAL PROGRAMS GEARED TO CHILDREN FROM KINDERGARTEN THROUGH...

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PROGRAMMING AND PRODUCTION: WVPT FIRST AIRED ON SEPTEMBER 9, 1968. INITIAL BROADCAST WAS FROM 9:30 AM TO 3:30 PM WEEKDAYS WITH INSTRUCTIONAL PROGRAMS GEARED TO CHILDREN FROM KINDERGARTEN THROUGH SENIOR HIGH. THROUGH NEARLY 50 YEARS, WVPT HAS GROWN TO BECOME THE VIBRANT AND TECHNOLOGICALLY ADVANCED ORGANIZATION IT IS TODAY.WVPT'S ANNUAL BROADCASTING BUDGET IS OVER A MILLION DOLLARS, THIS REPRESENTS HALF OF THE TOTAL OPERATING BUDGET WITH COSTS OVER $400,000 TO PBS FOR DUES AND PROGRAMMING. LOCAL PRODUCTION IS ALSO EXPENSIVE BUT TELLS THE STORY OF THIS COMMUNITY.IN 2012 THE COMMONWEALTH OF VIRGINIA STOPPED ALLOCATIONS FOR PUBLIC MEDIA FUNDING; THUS, THE STATION WAS DELIVERED AND ANNUAL SHORTFALL OF 75 PERCENT OF ITS OPERATIONAL FUNDS. WVPT NOW DEPENDS EVEN MORE ON COMMUNITY DONATIONS TO SUSTAIN ITS OPERATING BUDGET. THIS SUPPORT IS IMPERATIVE FOR UNINTERRUPTED OPERATIONS. DUE TO THE LOSS OF STATE FUNDING AND THE UNKNOWN STATUS OF THE FUTURE OF NATIONAL GOVERNMENTAL FUNDING, WVPT MUST RELY ON THE COMMUNITY IT SERVES FOR A MINIMUM OF 75 PERCENT OF ITS OPERATINAL FUNDS.WVPT IS A 501(C)(3) NOT-FOR-PROFIT, FINANCIALLY TRANSPARENT ORGANIZATION, AND A HISTORICALLY GOOD FINANCIAL STEWARD OF ITS RESOURCES. FINANCIAL AND AUDIT REPORTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST AND WVPT'S ANNUAL COMMUNITY IMPACT REPORT IS AVAILABLE FOR VIEWING AT WWW.WVPT.NET.AS WVPT NEARS ITS 50TH ANNIVERSARY OF SERVICE TO THE COMMUNITY, PLANS FOR THE FUTURE INCLUDE EXPANSION OF LOCAL CONTENT USING ON-LINE DISTRIBUTION WHILE STRENGTHENING ITS CORE ENTERPRISE AS THE REGION'S ESSENTIAL BROADCAST STORYTELLER. INVESTING IN YOUR COMMUNITY AND FUTURE GENERATIONS THROUGH WVPT WILL HELP TO SERVE YOUR COMMUNITY, TO TELL YOUR STORY, AND TO BE YOUR STATION.

Program 2
Expenses: $460,319 Revenue: $73,500

BROADCASTING: WVPT IS THE THIRD-OLDEST AND SMALLEST PBS STATION LICENSED TO VIRGINIA, BUT SERVES ONE OF THE LARGEST COVERAGE AREAS OF ANY PBS MEMBER STATION. IT PROVIDES MORE THAN 60 WEEKLY HOURS OF...

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BROADCASTING: WVPT IS THE THIRD-OLDEST AND SMALLEST PBS STATION LICENSED TO VIRGINIA, BUT SERVES ONE OF THE LARGEST COVERAGE AREAS OF ANY PBS MEMBER STATION. IT PROVIDES MORE THAN 60 WEEKLY HOURS OF HIGH-QUALITY EDUCATIONAL AND INFORMATIONAL CONTENT VIA CABLE, SATELLITE, ANTENNA, OR RABBIT EARS; ON DEMAND THROUGH MEMBERSHIP, ON YOUTUBE, THROUGH SMART-PHONE APPLICATIONS, AND VIA COMPUTER OR TABLET TO A REGION SPANNING OVER 40 COUNTIES ACROSS TWO STATES, VIRGINIA AND WEST VIRGINIA.BECAUSE THE BROADCAST FOOTPRINT IS SO VAST, WVPT MUST DISTRIBUTE THE SIGNAL OVER SEVEN TRANSMITTERS AT AN OPERATIONAL COST OF $600,000. THESE EXPENSES DO NOT INCLUDE OVERHEAD COSTS ASSOCIATED WITH STATION OPERATIONS SUCH AS BUILDING OPERATION COSTS, INSURANCE, SALARIES, ETC.

Program 3
Expenses: $222,464

PROGRAM INFORMATION: PROGRAM INFORMATION COSTS INCLUDE THE COSTS OF PERSONNEL WORKING TO BUILD CONNECTIONS IN THE COMMUNITY AND THE COST OF ADVERTISING.

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

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Financial Overview (2017)

Revenue Breakdown

Contributions & Grants $733,459
Program Service Revenue $224,432
Investment Income $193,225
Other Revenue $64,142
TOTAL REVENUE $1,215,258

Expense Breakdown

Grants Paid $0
Salaries & Benefits $550,018
Fundraising Expenses $230,756
Program Expenses $905,332
Other Expenses $886,282
TOTAL EXPENSES $1,436,300

Year-over-Year Comparison

2017 2016 Change
Revenue $1,215,258 $10,107,100 -0.9%
Expenses $1,436,300 $2,878,864 -0.5%
Net Income $-221,042 $7,228,236 -1.0%
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
8
Independent Members
8
Employees
19
Volunteers
20

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
5
$130,317
Total Directors
8
$130,317
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
STEPHEN DAVIS CHAIR 1.00
Officer Director
$0 $0 $0
TASSIE PIPPERT VICE CHAIR 1.00
Officer Director
$0 $0 $0
RICHARD PARKER SECRETARY 1.00
Officer Director
$0 $0 $0
JON SAYRE TREASURER 1.00
Officer Director
$0 $0 $0
TONY MANCARI PRESIDENT/GENERAL MANAGER 40.00
Officer Director
$117,909 $12,408 $130,317
JIM KRAUSS DIRECTOR 1.00
Director
$0 $0 $0
NEAL MENEFEE DIRECTOR 1.00
Director
$0 $0 $0
DAVE URSO DIRECTOR 1.00
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
2018 $1,215,258 $1,436,300 No data $-221,042
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