Form 990" Return of Organization Exempt From Income Tax OMB No 1545-0047 Under section 501 (c), 527, or 4947(a)(1) of the Internal Revenue Code (except black lung 2010 benefit trust or private foundation) Department of the Treasury Internal Revenue Service ► The or anization may have to use a copy of this return to satisfy state reportin g req uirements • ' • A For the 2010 calendar year, or tax year beginning Jan 1 , 2010, and ending Dec 31 .20 10 B Check if applicable C Name of organization Lake Area Educational Broadcasting Foundation D Employer identification number q Address change Doing Business As Spirit FM Radio 43- 1358481 q Name change Number and street (or P.O. box if mail is not delivered to street address) Room/swte E Telephone number q Initial return PO Box 800 573-346-3200 q Terminated City or town, state or country, and ZIP + 4 q Amended return Camdenton, MO 65020-0800 G Gross receipts $ 751050 q Application pending F Name and address of principal officer James J. McDermott H(a) Is this a group return for affiliates? q Yes q No Save as C above I H (b) Are all affiliates included" q Yes q No I Tax-exem pt status 501(c)(3) q 501(c) ( ) 1 (insert no) q 4947(a)(1) or q 527 If "No," attach a list (see instructions) www.spiritfm .org J Website: ► H (c) Group exemption number ► K Form organization q q q q of Corporation Trust Association Other ► L Year of formation 1984 M State of legal domicile MO 1 Briefly describe the organization's mission or most significant activities: This organization exists to operate and program a ---- network of non-commercial broadcast radio stations, which also includes programming several Internet streams related to our --- ------- --- -------------------------------------------------------------------------- ------------------------------------- on-air content. We also consult like organizations C in the better use of modern media. c - --------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------------------------------------------- 2 Check this box ► rl if the orcanlzatlon discontinued Its operations or disposed of more than 250A of its net assets- 0 3 Number of voting Ca members of the governing body (Part VI, line 1 a) . 3 4 4 Number of independent voting members of the governing body (Part VI, line 1 b) . 4 2 5 Total number of individuals employed in calendar year 2010 (Part V, line 2a) . 5 12 ' 6 Total number of volunteers (estimate if necessa ) . _ . 6 65 7a Total unrelated business revenue from P VIII, . 7a 0 b Net unrelated business taxable income fr m U I 7b 0 Prior Year Current Year e 8 Contrib uti ons and grants (Part VIII , l ine 1h.^^, . MMAYAY . 1 8 . 20, 9 . 'JJ® 703772 748761 C 9 Program service revenue (Part VIII, line 2g . 0 0 10 Investment Income (Part VIII, column (A), litnes 3 I 8 6476 1043 11 Other revenue (Part VIII, column (A), lines 1 210 1246 12 Total revenue-add lines 8 through 11 (must equal Part VIII, column (A), line 12) 711458 751050 13 Grants and similar amounts paid (Part IX, column (A), lines 1-3) . 31946 51474 14 Benefits paid to or for members (Part IX, column (A), line 4) . 0 0 e 15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5-10) 252436 294401 12 16a Professional fundraising fees (Part IX, column (A), line 11 e) . 2918 3039 C b Total fundraising expenses (Part IX, column (D), line 25) ► 36303 b 17 Other expenses (Part IX, column (A), lines 11a-11d, 11f-24f) . 289760 278387 18 Total expenses. Add lines 13-17 (must equal Part IX, column (A), line 25) 577060 627301 19 Revenue less expenses Subtract line 18 from line 12 134398 123749 Beginning of Current Year End of Year do 20 Total assets (Part X, line ILLO 16) . 1890991 1962287 M acoo 21 Total liabilities (Part X, line 26) . 277478 225025 zLL 22 Net assets or fund balances. Subtract line 21 from line 20 1613513 1737262 ---sIgnaiure MOCK Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete Declaration of preparer (other tl)mpfficer) is based on all information of which preparer has any knowledge Sign , Signature of officer Here k ,4 /; p o . I L III V Type or print name and title Print/Type preparer's name Preparer's signature Paid Preparer Use Only Firm's name ► Firm's address ► May the IRS discuss this return with the preparer shown above? For Paperwork Reduction Act Notice, see the separate instructions. Form 990 (2010) Page 2 LiEM Statement of Program Service Accomplishments Check if Schedule 0 contains a response to any question in this Part III . q 1 Briefly describe the organization's mission: This organization exists to operate and program a network of non-commercial broadcast radio stations, which also includes --------------------------------------------------------------------------------------------------------------------------------------------------------------------- programming several Internet streams related to our on -air content, and consulting like organizations in the better use of modern --------------------------------------------------------------------------------------------------------------------------------------------------------------------- media. 2 Did the organization undertake any significant program services during the year which were not listed on the prior Form 990 or 990-EZ? . q Yes q No If "Yes," describe these new services on Schedule O. 3 Did the organization cease conducting, or make significant changes in how it conducts, any program services? . q Yes No If "Yes," describe these changes on Schedule 0 4 Describe the exempt purpose achievements for each of the organization's three largest program services by expenses. Section 501(c)(3) and 501(c)(4) organizations and section 4947(a)(1) trusts are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported. 4a (Code:---------------) (Expenses $____________475951 including grants of $________________ 6532 ) (Revenue $ ____________________A0 ) Operating 9 full power non-commercial FM broadcast stations -- KCVO, KCVQ, KCVJ, KCVK, KCVX, KCVZ, KCVY, KVSR KCKV, and -------------------------------------------------------------------------------------------------------------------------------------------------------------------- per week 2600 supporters in 2010, and monthly mailings to 7000 4 translator stations _. We have a listening audience of 40.50,000 , families. 4b (Code:_______________) (Expenses $_______________1738 including grants of $_____________________00 )(Revenue $ ---------------------00 ) Operation of Internet streaming stations providing similar non-commercial programming as is aired on our broadcast stations. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------ These streaming stations are uploading around 25,000 aggregate tuning hours per month. --------------------------------------------------------------------------------------------------------------------------------------------------------------------------- 4c (Code ) (Expenses $_______________ 255 including grants of $---------------- 44942 ) (Revenue $ ---------------------00 ) Providing consultation, programming and grants to other non -profit organizations m order to help them use electronic media - - - - - ---------- in the most effective means to promote their own non-profit purposes. ----------------------------------------------------------------------------------------------------------------------------------------------------------------------- 4d Other program services. (Describe in Schedule 0.) (Expenses $ including grants of $ ) (Revenue $ 4e Total program service expenses ► 477944 Form 990 (2010) Form 990 (2010) . Page 3 Checklist of Required Schedules Yes No 1 Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If "Yes," complete Schedule A . 1 2 Is the organization required to complete Schedule B, Schedule of Contributors? (see instructions) . 2 3 3 Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If "Yes," complete Schedule C, Part I . 3 4 Section 501 (c)(3) organizations . Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year? If "Yes," complete Schedule C, Part 11 . 4 5 Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19? If "Yes," complete Schedule C, 3 Part lll. 5 6 Did the organization maintain any donor advised funds or any similar funds or accounts where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If "Yes," complete Schedule D, Part I . 6 3 7 Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures? If "Yes," complete Schedule D, Part 11 7 8 Did the organization maintain collections of works of art, historical treasures, or other similar assets? If "Yes," complete Schedule D, Part Ill . 8 9 Did