Sequim Community Broadcasting EIN 20-2816387 Form 990 (PDF) Claim this org

Sequim Community Broadcasting

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Operates a public radio station, broadcasting local news and music. For fiscal year 2024 it reported $229K in revenue, $221K in expenses, and $287K in net assets.Pt I

Type
Public charity (501(c)(3)) · Arts & Culture
Location
Sequim, WA
Website
kqsmfm.com
Filings
5 on file (2020–2024)
Revenue
$229KFY2024
Expenses
$221K
Net assets
$287K
People
7
Filings
5
Updates
0
More identity details & actions ⌄
EIN  20-2816387 Public charity (501(c)(3)) Sequim, WA
Form 990 (PDF)
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Size
$100K–1M
What they do
Operates a public radio station, broadcasting local news and music.
Leadership
Derek Brown · Board Member
Money in and out
$229K revenue, $221K expenses
Bottom line
20% program efficiency
Where the money goes · FY2024
Total revenue
$229K
Pt VIII · Ln 12
Total expenses
$221K
Pt IX · Ln 25
Net assets
$287K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $8K
Where spending went · Part IX cols B–D
Program services $0.20 Management & general $0.68 Fundraising $0.12
Program efficiency
20%
of spending reaches programs▼ -66% vs prior filing year
Operating runway
12.4mo
months of highly liquid reserves at operating expense rate▲ +15% vs prior filing year
Surplus margin
+3%
revenue over expenses, this year▲ +136% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$229K
FY2024▲ +10%
Expenses
$221K
FY2024▼ -3%
Total assets
$485K
FY2024▼ -1%
Total liabilities
$198K
FY2024▼ -5%
Total revenue
$229K
Pt VIII · Ln 12
Total expenses
$221K
Pt IX · Ln 25
Net assets
$287K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$8K
Total assetsPt X · Ln 16$485K
Program-expense ratioPt IX · col B20%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

1 program service account for $44K of program spending, described in the organization's own filed words · FY2024.
01

Sequim community broadcasting is committed to creating an educational and cultural hub using all available forms of media and venues for the benefit of the local region and populations well beyond the licensed terrestrial radio signal boundaries.

$44Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CSequim Community Broadcasting
EINHdr · item D20-2816387
Principal addressHdr · item CSequim, WA
WebsiteHdr · item Jkqsmfm.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MWA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A34)
Ruling yearIRS BMFApr 2008

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
See Sequim Community Broadcasting executive salaries →

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Statement of Revenue

Part VIII
Contributions & grants$182K · 79%
Program service revenue$44K · 19%
Investment income$3K · 1%
Contributions & grants79%$182K
Program service revenue19%$44K
Investment income1%$3K
Total revenueLn 12$229K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.20 Management & general $0.68 Fundraising $0.12
Program services20%$44K
Management & general68%$151K
Fundraising12%$26K
Total functional expensesLn 25$221K

Balance Sheet

Part X · end of year
CashLn 1$200K
Total assetsLn 16$485K
Total liabilitiesLn 26$198K
Total net assetsLn 32$287K
Months of cash on handcomputed10.9

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $214K · Operating expenses (Pt IX) $221K · Less non-cash grants $14K · Cash operating expenses/yr $207K
12.4 months
Where the money goes
Program services
Program services $44K · Total expenses $221K
20%
Management & General
Management & general $151K · Total expenses $221K
68%
Fundraising
Fundraising $26K · Total expenses $221K
12%
Cost to raise $1
Fundraising expense (3-yr avg) $9K · Solicited contributions (3-yr avg) $162K
$0.05 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $182K · Total revenue $229K
79%
Government reliance
Government grants — · Total revenue $229K
Earned-income share
Program service revenue $44K · Total revenue $229K
19%
Investment reliance
Investment income $3K · Total revenue $229K
+1%
Program self-sufficiency
Program service revenue $44K · Total expenses $221K
20%
Growth & trend
Revenue growth (YoY)
This year $229K · Prior year $207K
+10%
Revenue CAGR
FY2020 $147K · FY2024 $229K
+12%
Net-asset trend (YoY)
End of year $287K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $229K · Expenses $221K
+3%
Liabilities-to-Assets
Total liabilities — · Total assets $485K
Net-asset ratio
Net assets $287K · Total assets $485K
59%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) $13K · Total assets (Pt X, ln 16) $485K
3%
People & payroll
Highest Reported Total Compensation
Individual Derek Brown · Reported title BOARD MEMBER · Highest reported compensation $0 · Total expenses $221K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $67K · Total expenses $221K
30%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 20%
Overhead ratio 68%
Fundraising cost ratio 14%
Revenue growth 10%
Legal fee ratio 0.08%
Accounting fee ratio 7%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 3 funders$22K
See all 3 funders →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$229K revenue · viewing · ⤓ 990 PDF
FY2023$207K revenue · ⤓ 990 PDF
FY2022$196K revenue · ⤓ 990 PDF
FY2021$202K revenue · ⤓ 990 PDF
FY2020$147K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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