FLORIDA WEST COAST PUBLIC BROADCAS… - Form 990 Financial Data

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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

1956

Legal Domicile

Principal Officer

PAUL GROVE

Phone

8132549338

Tax Period

2022-10-01 to 2023-09-30

FLORIDA WEST COAST PUBLIC BROADCASTING INC, founded in 1956, is a mid-sized nonprofit in the Arts, Culture & Humanities sector that reported $16.4M in total revenue in fiscal year 2022. Revenue grew 11% year-over-year, indicating healthy expansion. The organization ran a surplus of $3.8M, a strong 23% operating margin.

Mission

THE MISSION OF WEDU IS TO EDUCATE, EXPLORE, AND ENGAGE TO INSPIRE A LIFETIME OF LEARNING AND DISCOVERY. WE AIM TO SERVE THE PUBLIC GOOD BY DELIVERING MULTIMEDIA CONTENT AND COMMUNITY OUTREACH THAT ENABLES OUR COMMUNITIES TO CONNECT, GROW, AND ACTIVELY (SEE SCHEDULE O) PARTICIPATE IN SHAPING THE FUTURE.

Program Service Accomplishments

Program 1

Expenses: $9,150,068 Revenue: $913,410

WEDU STANDS AS THE LARGEST PBS STATION IN FLORIDA, BROADCASTING 52,560 HOURS OF COMMERCIAL-FREE TELEVISION EACH YEAR ACROSS SIX CHANNELS, REACHING 6.4 MILLION FLORIDIANS. ADDITIONALLY, WEDU ENGAGES AUDIENCES DIGITALLY THROUGH VIDEO STREAMING, DIGITAL AND SOCIAL MEDIA PLATFORMS, AND OFFERS EXTENSIVE EDUCATIONAL RESOURCES. THOUGHTFUL IN ITS STORYTELLING, WEDU AMPLIFIES LOCAL VOICES AND DELVES INTO TOPICS IMPACTING OUR COMMUNITY, COUNTRY, AND THE WORLD. BY BRINGING TOGETHER DIVERSE VOICES, WE FACILITATE CONVERSATIONS THROUGH EVENTS AND OUTREACH, ADDRESSING IMPORTANT ISSUES AND SPARKING DIALOGUE (SEE SCHEDULE O).WEDU'S DEDICATED FOCUS ON THE LOCAL COMMUNITY HAS EARNED THE STATION A REPUTATION AS A BEACON OF TRUST FOR INDIVIDUALS FROM ALL LEVELS OF SOCIETY, REGARDLESS OF AGE, ETHNICITY, OR SOCIO-ECONOMIC STATUS. WEDU IS A CHERISHED COMMUNITY RESOURCE, SERVING AS A WINDOW TO THE WORLD FOR THE HOMEBOUND AND A VITAL EDUCATIONAL SOURCE FOR THE YOUNGEST MEMBERS OF SOCIETY. IN 2023, OUR EFFORTS GARNERED CRITICAL ACCLAIM, WITH TEN SUNCOAST REGIONAL EMMY NOMINATIONS AND FOUR WINS, ALONG WITH THREE PRESTIGIOUS NETA PUBLIC MEDIA NOMINATIONS, INCLUDING A VICTORY FOR "LAST TO ASK. NOTABLY, WEDU PRODUCED COMPELLING PROGRAMS SUCH AS A HISTORICAL EXPLORATION OF SARASOTA IN "THE SARASOTA EXPERIENCE," A RIVETING ACCOUNT OF THE TAMPA BAY RAYS IN "RISE OF THE RAYS, AND DIGITAL CONTENT FROM OUR ENVIRONMENTALLY FOCUSED SUSTAIN INITIATIVE.WEDU'S EDUCATION PROGRAMMING AND OUTREACH INITIATIVES FOR PK-12 STUDENTS CONTINUE TO STAND AS A TRUSTED RESOURCE FOR PARENTS AND EDUCATORS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $13,169,673

Program Service Revenue $1,109,233

Investment Income $902,486

Other Revenue $1,227,234

TOTAL REVENUE $16,408,626

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,875,186

Fundraising Expenses $2,071,998

Program Expenses $9,150,068

Other Expenses $7,750,244

TOTAL EXPENSES $12,625,430

Year-over-Year Comparison

	2022	2021	Change
Revenue	$16,408,626	$14,745,768	+0.1%
Expenses	$12,625,430	$10,882,609	+0.2%
Net Income	$3,783,196	$3,863,159	0.0%

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

Volunteers

100

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

$464,929

Total Directors

$314,412

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALAN C BOMSTEIN	BOARD CHAIR	2.00	Officer Director	$0	$0	$0
GARRETT SHINN	BOARD TREASURER	2.00	Officer Director	$0	$0	$0
JEFF SPARLING	BOARD VICE CHAIR	2.00	Officer Director	$0	$0	$0
JENNIFER WILLIAMS	BOARD SECRETARY	2.00	Officer Director	$0	$0	$0
SUZANNE OAKS BROWNSTEIN	IMMEDIATE PAST CHAIR	2.00	Officer Director	$0	$0	$0
JEAN MARTIN	DIRECTOR	2.00	Director	$0	$0	$0
DANIELLE DRUMMOND	DIRECTOR	2.00	Director	$0	$0	$0
SCOTT GAULT	DIRECTOR	2.00	Director	$0	$0	$0
BOB CALAFELL	DIRECTOR	2.00	Director	$0	$0	$0
BRIAN A BUTLER	DIRECTOR	2.00	Director	$0	$0	$0
CLAUDE MACARI	DIRECTOR	2.00	Director	$0	$0	$0
ELIZABETH SEMBLER	DIRECTOR	2.00	Director	$0	$0	$0
DEVANAND MANGAR	DIRECTOR	2.00	Director	$0	$0	$0
JON PHILIPSON	DIRECTOR	2.00	Director	$0	$0	$0
HEIDI SHIMBERG	DIRECTOR	2.00	Director	$0	$0	$0
JAMES H BENNETT	DIRECTOR	2.00	Director	$0	$0	$0
BENSON RISEMAN	DIRECTOR	2.00	Director	$0	$0	$0
PATTY SUAREZ	DIRECTOR	2.00	Director	$0	$0	$0
GEORGE MILES JR	DIRECTOR	2.00	Director	$0	$0	$0
KEVIN PLUMMER	DIRECTOR	2.00	Director	$0	$0	$0
PATRICIA DOUGLAS	DIRECTOR	2.00	Director	$0	$0	$0
RICHARD DOBKIN	DIRECTOR	2.00	Director	$0	$0	$0
SAMUEL SAMELSON	DIRECTOR	2.00	Director	$0	$0	$0
SUSAN S CRAIG	DIRECTOR	2.00	Director	$0	$0	$0
THOMAS DUPONT	DIRECTOR	2.00	Director	$0	$0	$0
TONY COLEMAN	DIRECTOR	2.00	Director	$0	$0	$0
WALT ENGLE	DIRECTOR	2.00	Director	$0	$0	$0
RICHARD RIVERA	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT GOUGH	DIRECTOR	2.00	Director	$0	$0	$0
NANCY HALE HOYT	DIRECTOR	2.00	Director	$0	$0	$0
CATHY UNRUH	DIRECTOR	2.00	Director	$0	$0	$0
LORI BAGGETT	DIRECTOR	2.00	Director	$0	$0	$0
PAUL GROVE	PRESIDENT & CEO	50.00	Officer Director	$280,121	$34,291	$314,412
DEBRA FRIEDBERG	CFO	50.00	Officer	$143,463	$7,054	$150,517
JOHN H CONELY JR	SENIOR VP OF OPERATIONS	50.00	Highest	$140,556	$16,805	$157,361
ARDEN ROBBINS	VP OF MARKETING AND COMMUN	50.00	Highest	$132,822	$5,170	$137,992
CLAIRE O'CONNOR SOLOMON	SENIOR VP OF DEVELOPMENT	50.00	Highest	$143,746	$14,455	$158,201

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	No data	No data	No data	No data
2023	$16,408,626	$12,625,430	$43,374,029	$3,783,196
2022	$14,745,768	$10,882,609	$35,681,835	$3,863,159
2021	$15,725,458	$10,378,412	$38,806,388	$5,347,046
2020	$11,394,460	$9,850,213	$30,023,542	$1,544,247
2019	$11,608,812	$9,546,689	$27,280,544	$2,062,123
2018	$9,873,699	$9,455,052	$24,706,220	$418,647

FLORIDA WEST COAST PUBLIC BROADCASTING INC