Annual 2017 Report Palo Alto Mayor Greg Scharff presents Annie Folger with a proclamation for her service to the community Let Midpen Media Center A Year of Leadership Transitions Help Tell Your Story and Renewed Purpose Thank you for reading this Annual Report and being a 2017 was a year of three Executive Directors. The year supporter of community media! If you have been to the Midpen began with founding Board Member and longtime Execu- Media Center you know that on almost any evening our HD tive Director, Annie Folger’s retirement. Her 30 plus years in studio is charged with creative energy and folks all working community media were celebrated by the cities and residents together to share their ideas. Midpen Media Center is THE place in our area to learn to write, act, direct, manage sound and light, and even operate a professional studio camera. Using these skills, our staff and volunteers produce stories, interviews, call-in shows, classes, lively discussions, record government meetings and much more. During the day, our center records product demonstrations for local startup companies, promotional pieces for organizations like the San Francisco 49ers, theatrical performances for Standford University Humanities professors, as well as public service announcements, meeting and conference coverage for local municipalities and non-profit organizations, and just about anything else you can imagine. In the summer, our building and parking lot are full of kids learning to operate field equipment, and to provide coverage and color commentary for sports and other live events. They learn many of the same skills adult producers do so they can Palo Alto Mayor Greg Scharff presents Annie Folger with a create their own shows too. proclamation for her service to the community The Midpen Media Center Board of Directors is so grateful that all of this happens thanks to our talented and experienced served by the Midpen Media Center. The City of Palo Alto staff, our creative and dedicated volunteers, and our invested presented Annie with a proclamation expressing apprecia- professional partners. Our donors and in-kind contributors tion for her outstanding public service, highlighting her many understand that the Midpen Media Center is an award-winning, accomplishments. These included compiling an accessible innovative and exciting place to be! We are very appreciative online archive of City Council meetings, producing informa- of their hard work and contributions. Have you considered tive voter engagement resources, building a state-of-the-art including us as part of your planned giving? HD studio, and establishing programming initiatives including If you haven’t been to our center in a while, come on back! Youth Sports Broadcasting and the Local Heroes awards. Bring a friend or a colleague and use the studio in 2018 to share your story. - Sue Purdy Pelosi, Board President continued on page 5 Financial Report OPERATIONS Operating Revenues Non-Operating Revenue/Expenses The Total Operating Revenues for 2017 was $839.9K, down $72.6K Total non-operating revenue was $583.8K, including Investment (8.0%) from 2016. This was driven by decreases in temporarily income, realized/unrealized gains and depreciation. restricted PEG fees of $34.0K (-11.1%), In-kind contributions of $30.8K (-28.5%), Class and facility use fees of $21.9K (-24.2%), Professional/ Summary media services of $13.3K (-12.6%), and Contracted meeting Overall, Total Operating Revenues less Total expenses resulted in a coverage of $10.3K (-4.8%). This was partially offset by an increase in net difference of -$401.7K. Contributions and grants of $16.5K (28.7%). Note: Includes $273.4K of PEG Fees temporarily restricted for capital CAPITAL EXPENDITURES purchases. In 2017, we had capital expenditures of $54.3K. Operating Expenses NET ASSETS UPDATE Operating expenses were $1,241.7K, a $15.7K (1.3%) increase Net assets increased by $182.0K as compared with 2016. That that was due to increases in Professional/media services of $74.9K increase included $635.0K in disbursements for operations from the (54.8%), Facility expenses of $7.2K (12.5%), and General operating investment account, and $178.6K in depreciation. The Board continues expenses of $4.0K (4.9%). This was partially offset by a decrease in to invest the capital fund conservatively with the advice of professional In-kind legal services of $30.8K (-28.5%) and Salaries and benefits of investment managers. OPERATING EXPENSES $30.6K (-3.8%) OPERATING REVENUES Revenues Expenses Class & facility use fees Tape sales & other 12% income In-kind legal Facility 1% services 5% Extraordinary 6% PEG fees released from Professional Services In-kind contributions restriction 3% 14% 8% General operating 7% Contracted meeting coverage Salaries & benefits 62% 36% Professional services 17% Contributions & grants 13% Professional/media StatementSTATEMENT OFof OPERATIONSOperations services for theFor Year the year Ending ended December December 31, 2017 31, 2017 16% StatementSTATEMENT OFof FinancialFINANCIAL POSITION Position OPERATING REVENUES DecemberDecember 31, 31, 2017 2017 Unrestricted Contracted meeting coverage $ 205,999 Professional/media services 92,238 ASSETS Contributions & grants 74,053 Current assets In-kind contributions 77,192 Cash & cash equivalents $ 766,048 Class & facility use fees 68,308 Investments 5,791,176 PEG fees released from restrictions 45,391 Accounts receivable 119,432 Tape sales & other income 3,384 Prepaid expenses & other current assets 25,759 Total Unrestricted Revenues $ 566,565 Total current assets 6,702,415 Temporarily Restricted Fixed assets, net of accumulated depreciation 2,352,151 PEG subscriber pass-through fees 273,369 Total assets $ 9,054,566 Total Operating Revenues $ 839,934 LIABILITIES AND NET ASSETS EXPENSES Current liabilities: Salaries & benefits $ 769,792 Accounts payable and accrued expenses $ 45,103 Professional/Outside services 211,655 Unearned Revenue 178,594 General operating 87,027 Total current liabilities 223,697 Extraordinary Professional Services 31,055 Net assets: In-kind legal services 77,192 Unrestricted 7,283,973 Facility 64,931 Temporarily restricted 1,546,896 Total expenses $ 1,241,652 Total net assets 8,830,869 NON-OPERATING REVENUES (AND EXPENSES) Total liabilities & net assets $ 9,054,566 Investment dividends, interest, and realized/unrealized gains $ 762,370 Depreciation -178,604 Net assets, beginning of period $ 8,648,821 Total Non-operating Revenues (Expenses) $ 583,766 Change in net assets 182,048 Net assets, end of period $ 8,830,869 Change in Net Assets $ 182,048 2 Who We Are Our Mission Our History Our mission is to inform, inspire, and empower people to speak Midpen Media Center was created by the 2001 merger of and act on behalf of their communities, to use television and Mid-Peninsula Access Corporation (operating since 1990), the internet to create and distribute programs that promote and and Silicon Valley Community Communications, which celebrate individual expression, local achievements, education, was established by the Cable Co-op in order to keep local cultural exchange, arts appreciation and civic engagement. programming alive by providing our facility and equipment in perpetuity. From our earliest day, we have been providing Midpen Media Center is a 501(c)(3) public benefit corporation. government transparency, enabling multicultural inclusivity and building social capital. Midpen Media Center Staff Our Programming Midpen Media Center programming tells the stories that need to be told. Our studio, field production, youth programs, non-profit outreach and Pro Services departments capture the dynamic stories of our community. The inspirational Local Heroes honors outstanding commu- nity members dedicated to positive social change in an inter- view show with live footage, public screening and reception. Walk of DREAMers 2017, shared the stories of immigrants who grew up undocumented in the U.S. as they struggled to attain the American Dream. In the summer, 6th-9th graders come to Midpen Media Center to learn computer animation, special effects, studio and field broadcasting skills. Each class creates a final Digiquest show to display their new accomplishments in media. Midpen Media Center shows won regional and national awards in 2017. Talk Art, Abilities United and Afternoon Snack each won an Alliance for Community Media (ACM) Hometown Video Award. Open to Hope and Veterans Helping Veterans won ACM Western Region WAVE Awards. Board of Directors Staff: Keri Stokstad, Jesse Norfleet, Karen Adams, Dave Sorokach, Elliot Margolies, Nancy Brown, Sara Bennett, David Simon, Elizabeth Kiler, Brian Jones, Lupita Segura, Eva Barrows, Chris Pearce, Louise Pencavel, Becky Sanders, Doug Kreitz. Additional part time staff & contractors (not pictured): Alma Angel, Pedro Arenas, Rick Bacigalupi, Batya Bell, Byron Binns, Lessa Bouchard, Kevin Burnett, Patrick Campisi, Andrew Chen, Audrey Daniel, Francisco Del Rosario, Bill Dimitri, Asia Dubarenka, Ann Eisenberg, Tim Erskin, Nathan Board of Directors: Gardner, Alex Gomez, Daniel Gomez, Twila Harrison, Alex Back row (left to right): Sue Purdy Pelosi, Michael Stern, Andrew Hero, Blair Helu, Cathy Keys, Alex Korolko, Brian Kraker, Jeff Mellows, Mike Di Battista, Lawrence Lee. Front row: Marie McKenzie, McGinnis, Christian Munoz, Stan Ng, Sally Rayn, Doug Smith, Azieb Nicodimos, Barbara Noparstak, Joanne Reed, Less Lincoln. Not Vidur Sood, Greg Weinstein, Kyle Wheeler. pictured: Gayathri Kanth, Nick Szegda. 3 2017 Highlights Accolades