Financials Building for the Future

GBH depends on its audiences, and we were moved and motivated to see how much our audiences depend on us, especially in times of disruption and uncertainty. We felt acutely our accountability to our community, and we were determined to engage, even as we were physically disconnected. With unflagging donor support and the ever-amazing tools of technology, we were able to do just that.

The five-year Campaign for GBH: Leadership in the Digital Century closed at the end of 2020, raising $215 million, exceeding our goal of $175 million. The donors and foundations who contributed to this ambitious and extremely successful campaign have allowed us to shape the future of public media and advance our mission in journalism, science, children's media and education and history, arts and culture. This support positions us for a very strong future.

Throughout the year, we reinvented the ways we connect, support and engage:

  • GBH Education stepped up to provide students and families with online learning resources and helped teachers adjust to the new realities and to connect with each other.
  • In our science programming and journalism — NOVA, GBH News and FRONTLINE — we provided accurate and timely information about the evolving COVID-19 crisis.
  • With our expansion across online platforms, engagement grew, with digital accounting for more than half our audience impressions.
  • In a contentious election year, we offered voters a variety of resources and events to understand the issues.
  • NOVA delivered essential programming that explored our changing climate and solutions to counteract Earth’s rising temperature.
  • The inclusive series Molly of Denali, with a podcast and games, drew in millions of children and families.
  • Music, drama and art continued to fill our homes, even during a lockdown — with COVID — safe performances by Yo-Yo Ma and of Handel’s “Messiah,” new AMERICAN EXPERIENCE programs and delights from MASTERPIECE.

As GBH reflected on the critical issues of racism and inequity, we made a commitment to demonstrate diversity, equity and inclusion not just in the work we create, but in how we do the work.

GBH will continue to learn, evolve and create as we strengthen and expand our reinvented community.

Consolidated Statements of Operating Activities
(UNRESTRICTED FUND)
(Year Ended June 30, 2020)

Revenue

Revenue FY20 Actual
Program support from corporations, foundations, campaign gifts and others 137,539,000
General support from members, patrons and other individuals 43,486,000
Affiliation and distribution services 11,338,000
Community Service Grants (CSGs) from the Corporation for Public Broadcasting 10,446,000
Captioning and ancillary services 21,426,000
Royalties, video, and foreign distribution 3,110,000
Investment earnings and accrued interest 7,419,000
Other Income 6,910,000
Total revenue 241,674,000

Operating Expenses

Operating Expenses FY20 Actual
Program Services
Programming and production 176,581,000
Broadcasting 44,978,000
Public information, guides and educational material 12,414,000
Total Program services 233,973,000
Supporting services
Fundraising 16,843,000
Underwriting 8,295,000
General and administrative 25,527,000
Total supporting services 50,665,000
Total operating expenses 284,638,000
Nonoperating income (including gains on investments) 41,366,000
Excess of revenue over expenses (1,598,000)
Programs by Categories

Assets & Liabilities

Assets FY20 Actual
Cash 48,303,000
Receivables 150,644,000
Film, licenses and intangible assets 50,326,000
Endowment investments 427,671,000
Equity Investments 23,036,000
Property, facilities and equipment, net 155,340,000
Other assets 17,086,000
Total assets 872,406,000
Liabilities FY20 ACTUAL
Current liabilities 62,120,000
Long-term deferred revenue and other liabilities 73,040,000
Long-term debt, net 171,472,000
Accrued bond interest expense 26,480,000
Total liabilities 333,112,000
Net Assets FY20 ACTUAL
Without donor restrictions 423,731,000
With donor restrictions 115,563,000
Total net assets 539,294,000
Total liabilities and net assets 872,406,000