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<body class='hmmessage'><div dir='ltr'>Dear Ms. Courtney,<div><br></div><div><br></div><div>According to MCPB's meeting minutes from July 2009, the annual 'burn</div><div><br></div><div><br></div><div>rate' at KZYX is $374,000:</div><div><br></div><div><br></div><div><a href="http://www.kzyx.org/images/pdf/mtg_minutes/KZYX%20Board%20meeting%20minutes%207-09.pdf" target="_blank">http://www.kzyx.org/images/pdf/mtg_minutes/KZYX%20Board%20meeting%20minutes%207-09.pdf</a></div><div><br></div><div><br></div><div>Looking at MCPB's Form 990s and audited financial statements, I found</div><div><br></div><div><br></div><div>an uncontrolled loss of $1.6 million over an eight-year period.</div><div><br></div><div><br></div><div>Here's how I calculated it. Add the total revenue from MCPB's financial</div><div><br></div><div><br></div><div>statements from 2008 through 2015. You can find them all here:</div><div><br></div><div><br></div><div><a href="http://www.kzyx.org/index.php/about-us/station-business/mcpb-bylaws-and-financial-statements" target="_blank">http://www.kzyx.org/index.php/about-us/station-business/mcpb-bylaws-and-financial-statements</a></div><div><br></div><div><br></div><div>The total revenue amounts to $4,338,549.</div><div><br></div><div><br></div><div>Then multiply a 'burn rate' of $374,000 times eight. The total there is</div><div><br></div><div><br></div><div>$2,992,000. Subtract that from the total revenue and you get $1,346,549.</div><div><br></div><div><br></div><div>The beginning net asset balance for that time period was $346,668. So if</div><div><br></div><div><br></div><div>the if the estimated 'burn rate' was accurate -- or even close -- then ending</div><div><br></div><div><br></div><div>net asset balance should be $1,693,217. But in reality, it's only $78,446.</div><div><br></div><div><br></div><div>Leaving $1,614,771 in uncontrolled loss.</div><div><br></div><div><br></div><div>So instead of a $347,000 annual 'burn rate,' it's more like $547,000. I got</div><div><br></div><div><br></div><div>most of the financial data from the National Center for Charitable Statistics </div><div><br></div><div><br></div><div>here:</div><div><br></div><div><br></div><div><a href="http://nccsweb.urban.org/communityplatform/nccs/organization/profile/id/680050440/popup/1" target="_blank">http://nccsweb.urban.org/communityplatform/nccs/organization/profile/id/680050440/popup/1</a></div><div><br></div><div><br></div><div>and the rest of it from the KZYX website here:</div><div><br></div><div><br></div><div><a href="http://www.kzyx.org/index.php/about-us/station-business/mcpb-bylaws-and-financial-statements" target="_blank">http://www.kzyx.org/index.php/about-us/station-business/mcpb-bylaws-and-financial-statements</a></div><div><br></div><div><br></div><div>The individual who originated the data was MCPB's General Manager, who</div><div><br></div><div><br></div><div>reported to the Board of Directors. During his years of 'dedicated service':</div><div><br></div><div><br></div><div><a href="http://www.ukiahdailyjournal.com/opinion/20160602/kzyx-board-responds" target="_blank">http://www.ukiahdailyjournal.com/opinion/20160602/kzyx-board-responds</a></div><div><br></div><div><br></div><div>Good luck with your current pledge drive.</div><div><br></div><div><br></div><div>Sincerely,</div><div><br></div><div><br></div><div>Scott M. Peterson</div><div><br></div><div><br></div><div>Mendocino</div><div><br></div><div><br></div><div>- - - - - - - - - - - - - - - - - - - - - - - - </div><div><br></div><div><br></div><div><br></div> </div></body>
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