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whyy.org



A Note from the Chief Financial Officer

Fiscal year 2007 (July 1, 2006 to June 30, 2007) marked the third year in a row that WHYY achieved an increase in net assets. In addition, fiscal year 2007 also represented the third year of growth in production and broadcasting expenses versus fundraising and general and administrative expenses ��� in other words, more of our member's dollars are going toward the programs and services that they enjoy.


At June 30, 2007, WHYY had $475,000 of line of credit borrowings. These borrowings were required due to WHYY���s continued investment in capital during fiscal 2007. These borrowings were paid back early in fiscal 2008. WHYY���s endowment funds increased by over 17% during fiscal year 2007.


These results are particularly impressive given the continued changes in the media landscape, especially as WHYY prepares for the long anticipated transition from analog to digital television in February 2009. In addition, WHYY continues to build its online delivery of news and information as more and more people look to the web for sources they can trust. Maintaining the status quo is not an option for success.


We continue to thank our hardworking and dedicated staff who are the mainstay of WHYY���s presence and activity in the community, and our loyal members who return year after year to support our efforts to deliver the quality services they demand.


-Bruce Flamm
Vice President, Chief Operating Officer


Statement of Financial Position

ASSETS

2007

2006

2005

FY07 %

Current assets $7,852,000 $6,334,000 $6,506,000
Contributions receivable, net of current portion 1,880,000 2,184,000 912,000
Investments 8,564,000 7,783,000 7,434,000
Property and equipment

15,799,000

15,637,000

13,803,000

              Total assets

$34,095,000

$31,938,000

$28,655,000

     
LIABILITIES AND NET ASSETS    
Current liabilities $5,843,000 $5,549,000 $4,241,000
Long term liabilities 5,544,000 5,834,000 6,129,000
Net assets

22,708,000

20,555,000

18,285,000

               Total liabilities and net assets

$34,095,000

$31,938,000

$28,655,000



Statement of Activities

Support, Contributions & Revenue



Support, contributions and revenue    
Government Funding $3,955,000 $4,035,000 $3,942,000 12%
Contributions 15,689,000 16,894,000 16,786,000 50%
Program funding and underwriting 8,972,000 7,981,000 8,679,000 28%
Other

3,041,000

1,400,000

1,132,000

10%

             Total support,
   
             contributions and revenue

31,657,000

$30,310,000

$30,539,000



Expenses



Expenses
Production and broadcasting 19,652,000 $17,674,000 $18,891,000 67%
General and administrative 3,030,000 3,525,000 3,592,000 10%
Fund raising

6,821,000

6,841,000

6,849,000

23%

              Total expenses

29,503,000

$28,040,000

$29,332,000

     
              Change in net assets                  

$2,154,000

$2,270,000

$1,207,000