Interlochen Public Radio had $1.6 million of total revenue during fiscal year 2018, which ended on May 31, 2018. Support for our public radio services came from the following sources:
$905,000 - Listener Gifts
$278,000 - Business Sponsorships
$270,000 - Corporation for Public Broadcasting (CPB)
$122,000 - Tower Rent
$25,000 - Endowment
Meanwhile, the costs to operate IPR last fiscal year totaled about $1.692 million:
$774,000 - Staff Compensation - Wages and benefits for IPR employees mainly to produce local programming.
$412,000 - Program Fees - Fees paid for national programs to NPR, APM and other networks.
$162,000 - Tower Rentals and Utilities - The cost of FM broadcasting.
$95,000 - Administrative - Various costs like licensing fees, membership dues and travel.
$249,000 - Support Services - Estimated cost of services from other Interlochen departments such as accounting, human resources and information technology.
Because our costs exceeded our revenue by about $92,000, this a financial loss to our parent institution, Interlochen Center for the Arts. We are grateful to Interlochen for temporarily subsidizing public radio in northern Michigan, but our plan is to close that gap by May 31st of 2022 with more listener support for a service that connects northern Michigan and the world. We need your help to thrive and continue informing and inspiring our community.
If you have questions or would like to discuss the financial status of Interlochen Public Radio, please contact Executive Director Peter Payette at email@example.com or 231.276.4446.
For our detailed financial statements, please click here: IPR Audited Financials Years Ending May 31, 2018 and 2017.