2012 Annual Report For Fiscal Year Ending December 31, 2012 Taishoff Family Foundation Sol Taishoff Lawrence B.Taishoff 1905-1982 1933 - 2006 The Taishoff Family Foundation was established by the late help educate society about the special skills and talents of Lawrence B. Taishoff and his son Rob in honor of their people with Down syndrome, autism and traumatic brain legendary father and grandfather Sol Taishoff, the founder injury, to name a few. Toward this goal, the Taishoff Family and editor-in-chief of Broadcasting magazine. Foundation has established the Lawrence B. Taishoff Center for Inclusive Higher Education at Syracuse University. As journalists and publishers, Sol and Larry Taishoff played a seminal role in the development of the radio and The Taishoffs also provided critical initial funding for the television industry in America. As champions of a free and Library of American Broadcasting, now located at the unfettered broadcasting profession, Broadcasting magazine University of Maryland. Sol Taishoff himself was one of the was created as the instrument and manifestation of their founders of the Broadcast Pioneers organization which, devotion to resemble a “sentinel on the Potomac” to warn as you know, has now become the national charitable against government intrusion into the creative processes endeavor known as the Broadcasters Foundation of and activities of radio and television broadcasters. America which you and so many of our colleagues support. The Taishoffs devoted their entire lives to extending the Today, the Taishoff Family Foundation is administered values and protections of the First Amendment to “The by the third generation of family members who support, Fifth Estate” which was the designation bestowed upon the among their many worthwhile endeavors, the National broadcasting fraternity by Sol Taishoff so many years ago. Press Foundation which annually presents the Sol Taishoff Award for Excellence in Electronic Journalism. The vision and foresight of both Taishoffs often caused them to be allied on many of the great issues of the day Retired Captain Robert Taishoff USN, is the chairman of with the work and example of one of our own founding the Taishoff Family Foundation. chairman Ward L. Quaal. In 2009, the Taishoff family was honored with a Ward L. Quaal Pioneer Award. The Broadcasters Foundation of America extends its deep gratitude to the Taishoff family for carrying on the legacy In addition to their commitment to journalistic causes of their illustrious forebears by underwriting On The Air and a free press, the Taishoff Family Foundation is also magazine, which is distributed widely throughout the active in improving the lives of people with intellectual broadcast industry. disabilities. The Foundation has developed resources to Letter from the Chair we fund the Foundation, and I’m excited about the opportunity to create distinctive new events and fund raising vehicles. We have many people to thank-- high among them the Taishoff family, whose commitment to our organization is unique and remarkable, underwriting our On The Air Phil magazine and this Annual Report. Lombardo This past year we received more requests for assistance than any year in our history. We believe this trend will continue, in part because of our aggressive outreach campaign. Many fine people and corporate entities have shouldered the responsibility for the Foundation’s success in recent years. It is now time for everyone in our In our most recent year of service to the broadcasting industry to step up and become involved in our mission. industry, I’m pleased to report that the Broadcasters Foundation of America was able to give a record sum of With the vital help of many parties you will see identified financial assistance to broadcasters in dire need of our in these pages – Board Members, Corporate Angel support. donors, sponsors, benefactors and Broadcasters Foundation of America event participants – our Our efforts were once again made possible by the organization continued to provide life-saving assistance generous support of industry colleagues whose to a diverse group of industry professionals in critical commitment to helping others contributed to a successful need. Demand for our assistance continues to grow, and year for the Foundation. it is my great hope that even broader industry support will enable us to help a growing population of current or Thanks to numerous Broadcasters Foundation of America former broadcasters who find themselves in need. industry friends old and new, the past year was notable for the success that our organization enjoyed. In 2012, our It continues to be my great privilege and honor to serve Foundation continued to attract major funding support as Chairman of the Broadcasters Foundation of America. from individuals, leading broadcast industry companies, On behalf of the board of directors, our heartfelt thanks associations and others who believe in the work we do for to everyone who has made our work possible and made industry members in need. such a difference in the lives of so many. This past year we have had great success with our annual events, which are critical to funding the assistance we Sincerely, provide broadcasters and continue to be a major source of Philip J. Lombardo income to the Broadcasters Foundation. The Golden Chair Mike Award Dinner, The Philip J. Lombardo NAB Charity Golf Tournament and The Celebrity Golf Tournament help generate essential revenue and awareness of what we do. Part of our challenge will be to continually renew and revitalize the means by which 3 Letter from the Treasurer I’m also very pleased to report that the Foundation’s investment advisors, as directed by the investment committee of the board of directors, continue to manage our portfolio with a conservative investment philosophy. The investment committee meets with the advisors on a quarterly basis and more frequently as warranted. As you will see in the Auditors Richard A. Report, our financial position has increased Foreman substantially over the prior year. The financial statements and management reports of the Broadcasters Foundation of America are The Broadcasters Foundation of America relies on carefully reviewed by the executive committee on the continuing support of industry members who a monthly basis and by the board of directors at its in turn look to the Foundation’s Board and officers quarterly meetings. to responsibly manage and judiciously expend all sums entrusted to us. Our 2012 Annual Report No doubt 2013 will be challenging for organizations documents the Broadcasters Foundation of such as ours, but I’m confident that the industry America’s continuing, diligent stewardship of the will continue to value our mission and generously assets we manage. It is that essential trust that makes support the cause of helping fellow broadcasters in all of our good work possible. need. The audited financial statements and certification contained within the annual report substantiate our Sincerely, success in raising money and appropriately Richard A. Foreman disbursing funds to help fellow radio and television Treasurer broadcasters who find themselves in acute need. I am pleased to report that our Foundation continues to draw funds from multiple revenue streams, which helps ensure the viability and continuity of our outreach efforts. Our model remains effective for the organization. Our annual Guardian was very close to making our objective and our Corporate Angel Initiative exceeded our objectives in 2012. The Foundation also benefits from the diverse but complementary nature of our signature events: The Golden Mike Award, The Philip J. Lombardo NAB Charity Golf Tournament, The Ward L. Quaal Leadership Breakfast and the Celebrity Golf Tournament. 4 Your Help Literally Saves Lives Indomitable Following a gratifying career in the Carolinas for forty years, this television broadcast engineer was ready to enjoy his retirement. He Spirit got a part-time job in a local supermarket and was doing okay. But he developed spinal stenosis and was unable to work. He sold his home and bought a smaller, one-story house that was simpler to maintain and made it easier to get around. Progressing age brought more debilitating health. He was diagnosed with stage-four chronic kidney disease. Still, he remained active and positive. Even though he was in his late 70s, he went to the senior center with his girlfriend every weekend. As his condition worsened, the medical bills and special-care costs piled up. The Broadcasters Foundation of America began providing a monthly grant to help with the expenses. He is now in his 80s, and his 77-year-old girlfriend, who is fighting lung cancer, visits him every day to help with the household chores. Their indomitable spirit carries on. He recently told us: “As you know by now, I could not make it…or still be alive…without your help. God bless you all.” this message was made possible by the McCormick Foundation journalism program 2012 Broadcasters Foundation of America Contributors 2012 Guardian Fund $50,000 and Over Robert & Marjie Bennett Foundation Broadcasting & Cable Taishoff Foundation $25,000 and $30,000 Cambridge Financial Services Inc. The Mel Karmazin Foundation, Inc. The Glenn Beck foundation Mac Tichenor $20,000 Dan Mason Smulyan Family Foundation, Inc. $10,000 - $15,000 Roger Ailes Kerby Confer Charles Osgood Blackburn & Company, Inc. The Richard Eaton Foundation Robert & Laura Sillerman BMI Joseph & Marie Field George Stephanopoulos Clear Channel Communications The Maxine Goldenson Trust $5,000 - $9,999 David Barrett Stanley S. Hubbard Maurice Povich Richard & Ellen Bodorff Al Kaneb Perry Sook Gary Chapman Thomas Murphy Howard & Beth Stern Alan and Ann Frank Deborah Norville Hearst Television The Winifred & William O’Reilly $2,000 - $4,999 Arbitron Matthew Lauer Dennis Swanson Elizabeth M. Burns The Morey Family Foundation Jordon Wertlieb Peter Diaz N.S. Bienstock K. James Yager Richard A. Foreman Associates Deborah Parenti $1,000 - $1,999 The Ali Mar Organization Ltd.