2024-02-07T14:22:11-06:00 2023-06-30 030225774 GALLAGHER FLYNN & COMPANY LLP 725 COMMUNITY DRIVE SUITE 401 SOUTH BURLINGTON VT 05403 990 2022-07-01 852913577 VERMONT PUBLIC CO VERM 8026559451 365 TROY AVENUE COLCHESTER VT 05446 BRENDAN LEONARD CFO 8026559451 2024-01-18 1 BRENDAN LEONARD 999009999 1 STEVEN M AUSTIN CPA P02385259 8028631331 2024-01-18 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z BRENDAN LEONARD 365 TROY AVENUE COLCHESTER VT 05446 19412667 0 X VERMONTPUBLIC.ORG X 2020 VT TO BROADEN AND DIVERSIFY OUR AUDIENCE THROUGH RELEVANT, TRUSTED INFORMATION AND STORIES THAT BRING PEOPLE AND COMMUNITIES TOGETHER. 16 16 132 150 297786 296786 11180136 10955395 3579705 3307608 2486027 1770948 1205373 1343342 18451241 17377293 0 57345 0 0 10850751 11246534 75583 0 2052229 10205397 10073383 21131731 21377262 -2680490 -3999969 84218029 89126649 2843681 7963434 81374348 81163215 TO BROADEN AND DIVERSIFY OUR AUDIENCE THROUGH RELEVANT, TRUSTED INFORMATION AND STORIES THAT BRING PEOPLE AND COMMUNITIES TOGETHER. 0 0 5153820 3845194 PROGRAMMING:VERMONT PUBLIC IS VERMONT'S UNIFIED PUBLIC MEDIA ORGANIZATION, SERVING THE COMMUNITY WITH TRUSTED JOURNALISM, QUALITY MUSIC AND ENTERTAINMENT, AND EDUCATIONAL PROGRAMMING. VERMONT PUBLIC'S STATEWIDE RADIO AND TV NETWORKS PROVIDE FREE AND UNIVERSAL ACCESS TO ITS BROADCAST PROGRAMMING THROUGHOUT VERMONT, AS WELL AS IN PARTS OF NEW HAMPSHIRE, NEW YORK, MASSACHUSETTS AND QUEBEC, CANADA. PROGRAMS AND CONTENT ARE AVAILABLE ANYWHERE AT VERMONTPUBLIC.ORG AND WITH THE VERMONT PUBLIC APP. 4777235 57345 CONTENT:VERMONT PUBLIC PRODUCES LOCAL, AWARD-WINNING NEWS, MUSIC, ARTS AND ENTERTAINMENT CONTENT, AND PROVIDES LOCAL ACCESS TO ACCLAIMED NATIONAL PROGRAMMING FROM NPR AND PBS. IT IS HOME TO VERMONT'S ONLY CLASSICAL MUSIC NETWORK, AND A KEY SOURCE FOR EDUCATIONAL AND AGE-APPROPRIATE CHILDREN'S PROGRAMS, PLUS RESOURCES FOR PARENTS AND EDUCATORS. VERMONT PUBLIC ALSO FACILITATES CONNECTION AND RICH CONTENT EXPERIENCES THROUGH LIVE EVENTS AT THE STATION, THROUGHOUT THE REGION AND ONLINE. 5326462 ENGINEERING:VERMONT PUBLICE IS COMMITTED TO BRIDGING DIVIDES, PROVIDING SPACE TO BRING PEOPLE TOGETHER ACROSS DIFFERENCES - IN PERSON AND ONLINE, AS WELL AS ON TV AND RADIO. 15257517 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 0 0 0 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 47 0 1 132 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 X 16 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 NH NY MA X X BRENDAN LEONARD 8026543688 365 TROY AVENUE COLCHESTER VT 05446 BILL STETSON DIRECTOR 2.00 X 0 0 0 BRAD ROBERTSON DIRECTOR 2.00 X 0 0 0 DENNISE CASEY DIRECTOR 2.00 X 0 0 0 ELIZABETH RATTIGAN DIRECTOR 2.00 X 0 0 0 HB LOZITO DIRECTOR 2.00 X 0 0 0 JIM CLUBB DIRECTOR 2.00 X 0 0 0 LANE PIKE FURY DIRECTOR 2.00 X 0 0 0 MARGUERITE DIBBLE CHAIRPERSON 4.00 X 0 0 0 MOLLY LAMBERT DIRECTOR/OFFICER 2.00 X X 0 0 0 NICOLE JUNAS RAVLIN DIRECTOR 2.00 X 0 0 0 PEGGY WILLIAMS DIRECTOR 2.00 X 0 0 0 PETER GRAHAM DIRECTOR 2.00 X 0 0 0 ROBERT ALLEN DIRECTOR/OFFICER 2.00 X X 0 0 0 STEVE SWAYNE DIRECTOR 2.00 X 0 0 0 TOM EVSLIN DIRECTOR 2.00 X 0 0 0 WEIWEI WANG DIRECTOR 2.00 X 0 0 0 WILLEMIEN DINGEMANS MILLER DIRECTOR 2.00 X 0 0 0 WILLIAM STETSON DIRECTOR 2.00 X 0 0 0 SCOTT FINN PRESIDENT & CEO 42.00 X 199615 0 34208 BRENDAN LEONARD CHIEF FINANCIAL OFFICER 42.00 X 168046 0 32629 SARAH ASHWORTH SVP OF CONTENT 42.00 X 156866 0 32070 BRENDEN KINNEY SVP OF DEVELOPMENT 42.00 X 155519 0 31970 JOSEPH TYMECKI SVP OF ENGINEERING & TECHNOLOGY 42.00 X 152464 0 23894 FRANCES TOBIN SVP OF PEOPLE & CULTURE 42.00 X 147270 0 23635 979780 0 178406 6 0 1 0 NATIONAL PUBLIC RADIO PO BOX 79540 BALTIMORE MD 212790540 PROGRAMMING 926347 PUBLIC BROADCASTING SERVICE 14400 COLLECTIONS CENTER DR CHICAGO IL 60693 PROGRAMMING 653586 CLEARBEARING INC 1 TOWNE MARKETPLACE ESSEX JUNCTION VT 05452 IT SERVICES 234518 ROI SOLUTIONS INCORPORATED 200 RIVERS EDGE DR MEDFORD MA 02155 CRM DATABASE SERVICES 193744 MEDIA MANAGEMENT LLC PO BOX 845359 BOSTON MA 022845359 BROADCAST SERVICES 180000 8 10955395 10955395 PROGRAM UNDERWRITING 516100 3307608 3307608 3307608 1285478 1285478 993440 993440 413191 115405 297786 297786 297786 2405439 1919969 485470 485470 485470 OTHER 531190 52116 52116 52116 17377293 3845194 297786 2278918 10000 10000 47345 47345 1158186 365294 605403 187489 7207649 5455381 1052684 699584 2253936 1556223 440022 257691 626763 442759 118255 65749 57730 57730 161675 161675 255672 255672 1102519 678798 214375 209346 815845 411411 376307 28127 2324657 1892190 279470 152997 1580963 1474580 35503 70880 295744 217845 32201 45698 PROGRAM ACQUISTIONS 2078525 2078525 SUBSCRIPTION/ DUES/ PRO 659326 389647 187719 81960 MISC 491320 237519 188018 65783 BANK FEES 249407 62482 186925 21377262 15257517 4067516 2052229 1552743 1059329 1428910 48183 744652 925551 95061 142791 293924 402649 33803919 17254824 17713545 16549095 57673121 59684388 4716073 10314663 84218029 89126649 1400621 1121219 223501 193844 1219559 6648371 2843681 7963434 X 68484798 67890647 12889550 13272568 81374348 81163215 84218029 89126649 -3999969 3788836 0 X 0 1 X 1 0 X 15237398 15713599 30950997 15237398 15713599 30950997 30950997 1684956 1377856 3062812 266553 257230 523783 34537592 0.89620 0.90040 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 57653892 5549616 3348127 255672 59599709 70769566 -10876563 1908832 330279 57653892 1.00000 0 0 15499995 5657157 9842838 18201606 11597667 6603939 102318 102318 16549095 MUTUAL FUNDS 42804260 F INVESTED CASH 1119392 F CORPORATE BONDS 7887187 F US GOVERNMENT SECURITIES 6609655 F OTHER 1263894 F 59684388 BENEFICIAL INTERESTS IN TRUSTS 1452543 INTANGIBLE ASSETS - FCC LICENSES 3364603 LEASE ROU ASSETS 5497517 10314663 DEFERRED REVENUE LONG TERM 61250 LONG TERM ACCRUED EXPENSES 563284 LEASE LIABILITIES - LONG TERM 5697595 LEASE LIABILITIES - CURRENT 326242 6648371 X 21017711 3788836 107254 3896090 17121621 255672 255672 17377293 21228844 107254 107254 21121590 255672 255672 21377262 PART V, LINE 4: THE CORPORATION'S ENDOWMENT FUNDS ARE FOR THE PURPOSE OF SUPPORTING PRODUCTIONS AND PROGRAMMING THAT SUPPORTS LOCAL CULTURAL AND NATURAL PROGRAMMING AND CROSS BORDER PROGRAMMING. PART X, LINE 2: THE COMPANY QUALIFIES AS A TAX-EXEMPT, NOT-FOR-PROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE COMPANY IS, HOWEVER, SUBJECT TO FEDERAL AND STATE INCOME TAX ON NET UNRELATED BUSINESS INCOME FROM CERTAIN LEASING ACTIVITIES AS DEFINED IN THE APPLICABLE PROVISIONS OF THE INTERNAL REVENUE CODE. THE COMPANY'S PROVISION FOR UNRELATED BUSINESS INCOME TAXES IS NOT MATERIAL IN 2023. THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE COMPANY MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE-LIKELY-THAN-NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE COMPANY HAS RECOGNIZED A LIABILITY FOR POTENTIAL ADDITIONAL INCOME TAXES PAYABLE AND ASSOCIATED PENALTIES AND INTEREST, WHICH ARE INCLUDED WITH OTHER ACCRUED EXPENSES NONCURRENT PORTION IN THE AMOUNT OF APPROXIMATELY $327,000 AT JUNE 30, 2023. THE COMPANY'S PROVISION FOR UNRELATED BUSINESS INCOME TAXES AMOUNTS, INTEREST AND PENALTIES ASSOCIATED WITH UNRECOGNIZED TAX BENEFITS IS NOT MATERIAL IN 2023. IN CONNECTION WITH THE MERGER, THE ORGANIZATION IS RESPONSIBLE FOR THE TAX FILINGS OF PREDECESSOR ENTITIES. WITH FEW EXCEPTIONS, THE ORGANIZATION'S PREDECESSOR ENTITIES ARE NO LONGER SUBJECT TO U.S. FEDERAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE THE YEARS ENDED JUNE 30, 2020 FOR VERMONT ETV, INC. AND SEPTEMBER 30, 2020 FOR VPR. THE ORGANIZATION IS SUBJECT TO INCOME TAX EXAMINATIONS BY U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR THE MOST RECENT THREE YEARS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE REPORTED ON 990T 107,254. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE REPORTED ON 990T 107,254. CANADA 0 0 FUNDRAISING 26968 0 0 0 0 0 0 26968 0 26968 0 0 0 0 0 0 PART III ACCOUNTING METHOD: 1 TWO DAUGHTERS PRODUCTIONS 887 ORCHARD ST BRATTLEBORO VT 05301 922157853 501 (C) 3 6000 0 LOCAL VIDEO CONTENT CREATION LOCAL VIDEO CONTENT CREATION 8 47345 PART I, LINE 2: BEFORE RECEIVING FUNDS, EACH FUND AWARDEE HAS TO REVIEW AND SIGN AN AGREEMENT THAT CLEARLY STATES THE USE OF FUNDING. THE MADE HERE FUND AWARD IS GIVEN IN TWO INSTALLMENTS WITH HALF AT THE OUTSET OF THE PROJECT AND HALF AT THE HALFWAY POINT OF EACH INDIVIDUAL PROJECT'S TIMELINE. THE FUND MANAGER KEEPS IN REGULAR CONTACT WITH THE AWARDEE, GETTING PROJECT UPDATES. AT THE HALFWAY POINT, THE FUND MANAGER MEETS WITH EACH RECIPIENT, HAS THEM ANSWER A SERIES OF WRITTEN QUESTIONS, AND CHECKS IN ON THE PROJECT STATUS. WHEN EACH PROJECT IS COMPLETED, THE FUND MANAGER MEETS WITH EACH RECIPIENT AND DISCUSSES DISTRIBUTION OF THE FINISHED PROJECT, AS WELL AS REVIEWING THE FINAL PROJECT TO MAKE SURE IT MEETS BROADCAST AND EDITORIAL STANDARDS. 1 X X 0 0 0 0 0 0 0 0 0 SCOTT FINN PRESIDENT & CEO 199615 0 0 0 0 0 0 0 34208 0 233823 0 0 0 BRENDAN LEONARD CHIEF FINANCIAL OFFICER 168046 0 0 0 0 0 0 0 32629 0 200675 0 0 0 SARAH ASHWORTH SVP OF CONTENT 156866 0 0 0 0 0 0 0 32070 0 188936 0 0 0 BRENDEN KINNEY SVP OF DEVELOPMENT 155519 0 0 0 0 0 0 0 31970 0 187489 0 0 0 JOSEPH TYMECKI SVP OF ENGINEERING & TECHNOLOGY 152464 0 0 0 0 0 0 0 23894 0 176358 0 0 0 FRANCES TOBIN SVP OF PEOPLE & CULTURE 147270 0 0 0 0 0 0 0 23635 0 170905 0 0 0 X 27 101767 FAIR MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE COMPLETED FORM 990 IS REVIEWED BY THE BOARD OF DIRECTORS PRIOR TO IT BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C PART IV-SECTION B POLICIES 12C: ANNUALLY BOARD MEMBERS AND SENIOR STAFF COMPLETE A CONFLICT OF INTEREST DISCLOSURE FORM WHICH IS REVIEWED, EVALUATED AND MAINTAINED ON FILE. ANY ISSUES DISCLOSED WHICH ARE CONSIDERED OR MAY BE PERCEIVED AS A CONFLICT ARE HANDLED ON A CASE BY CASE BASIS. FORM 990, PART VI, SECTION B, LINE 15 PART IV- SECTION B POLICIES 15A: ANNUALLY THE CEO IS REVIEWED AND EVALUATED BY THE FULL BOARD OF DIRECTORS. COMPENSATION IS DETERMINED BY THE BOARD. PERIODICALLY, INDEPENDENT CONSULTANTS ARE USED TO DETERMINE MARKET RATE AND COMPARABLE MARKET DATA FOR THE CEO AND OTHER KEY EMPLOYEES. THE BOARD REVIEWS THIS DATA AND ESTABLISHES AN APPROPRIATE COMPENSATION LEVEL FOR THE CEO. THE BOARD HAS ESTABLISHED A COMPENSATION COMMITTEE TO SPECIFICALLY REVIEW CEO COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 UPON REQUEST