Financials Investing in Innovation

As the Campaign for WGBH: Leadership in the Digital Century closes in on completing its record-breaking milestone of $175 million, we are able to advance our mission across all programming areas including journalism; children’s media and education; history, arts and culture; and science. This year was replete with firsts:

Extending our news coverage to connect the Commonwealth, we established a news bureau in Worcester, and our affiliate partners in Western Massachusetts consolidated to form the radio and television platform of New England Public Media.
We debuted the multimedia Molly of Denali, the first nationally distributed children’s series to feature an Alaska Native lead character.
To better reflect the diversity of our society, we created NOVA Science Studio, a pilot program that empowers local students with the skills to tell engaging stories about science through text journalism and short-form video.
American Experience, now in its 30th year, produced Chasing the Moon, which captured the history and times surrounding man’s first steps on the moon. The film was previewed with nearly 400 member stations and community organizations. Those early showings drew in 35,000 guests and were followed by television and online viewing opportunities enjoyed by millions.
Through our Emerging Platforms Initiative, WGBH became the first public media organization to experiment on Twitch, an online platform that draws more than 15 million daily active users.
We optimized our partnership with the podcasting leader PRX with the debut of Molly of Denali and The Creeping Hour podcasts, positioning us to launch groundbreaking and innovative audio and listening experiences for younger audiences.

A trusted name in an increasingly complex media landscape, WGBH will continue to work with our communities, partners and donors to be an innovation leader in this exciting digital media era.

Consolidated Statements of Operating Activities
(UNRESTRICTED FUNDS)
(Year Ended June 30, 2019)

Revenue

Revenue	FY19 Actual
Program support from corporations, foundations, campaign gifts and others	134,139,000
General support from members, patrons and other individuals	41,318,000
Affiliation and distribution services	11,501,000
Community Service Grants (CSGs) from the Corporation for Public Broadcasting	8,952,000
Captioning and ancillary services	12,514,000
Royalties, video, and foreign distribution	2,200,000
Investment earnings and accrued interest	8,859,000
Other Income	11,169,000
Total revenue	230,652,000

Operating Expenses

Operating Expenses	FY19 Actual
Program Services
Programming and production	168,327,000
Broadcasting	34,458,000
Public information, guides and educational material	7,514,000
Total Program services	210,299,000
Supporting services
Fundraising	22,958,000
Underwriting	7,510,000
General and administrative	27,972,000
Total supporting services	58,440,000
Total operating expenses	268,739,000
Nonoperating income (including gains on investments)	53,878,000
Excess of revenue over expenses	15,791,000

Programs by Categories

Assets & Liabilities

Assets	FY19 Actual
Cash	44,606,000
Receivables	160,267,000
Film, licenses and intangible assets	62,235,000
Endowment investments	413,796,000
Equity Investments	21,837,000
Property, facilities and equipment, net	158,714,000
Other assets	11,967,000
Total assets	873,422,000

Liabilities	FY19 ACTUAL
Current liabilities	60,704,000
Long-term deferred revenue and other liabilities	75,307,000
Long-term debt, net	167,360,000
Accrued bond interest expense	24,055,000
Total liabilities	327,426,000

Net Assets	FY19 ACTUAL
Without donor restrictions	424,329,000
With donor restrictions	121,667,000
Total net assets	545,996,000
Total liabilities and net assets	873,422,000