Tuesday, December 8, 2015

KLOVE CEO Mike Novak makes $557,362


For several years I've blogged about KLOVE's finances. KLOVE is classified as a 501(c)(3) non-profit organization and is the dominant Christian radio station in America operating "non-commercial" and listener-supported radio stations across the country.

I make no editorial comment about KLOVE's finances and how the organization spends its money. This information is only in the interest of transparency. We're all familiar with the fall and spring KLOVE pledge drives and here's a brief look at where the money goes. KLOVE is run by the non-profit Educational Media Foundation (EMF) that is based in Rocklin, Calif., according to annual Form 990 records filed with the IRS. Educational Media Foundation operates the KLOVE and Air 1 radio stations broadcast across the country and over the internet.

According to records filed with the IRS here's a comparison of the company's finances
Total revenue
2013--$141 million
2014--$155.3 million

Expenses
2013--$81.6 million
2014--$91.1 million

Net Revenue
2013--$59.5 million
2014--$64.2 million

Net Assets
2013--$290 million
2014--$353.5 million

Grants to tax-exempt organizations for Christian evangelism, edification and values
2013--$156,077
2014-- $208,303

Here's the compensation of the top employees, according to the IRS records:
1) Mike Novak, CEO/President/Director: $557,362 (including bonus of $157,500)
2) David Pierce, chief creative officer: $309,726
3) Alan Mason, COO: $299,378
4) Dan Antonelli, VP International: $295,135
5) Kevin Blair, General Counsel/Secretary: $285,317
6) Joe Miller, VP Signal Development/Asst. Treasurer: $272,941
7) Eric Moser, CFO: $259,749
8) Brian Burger, VP of Human Resources: $245,566
9) Randy Rich, VP of Philanthropy: $240,279
10) Brian Gantman, Govt Affairs Director/In-house counsel: $220,046
11) Sam Wallington, VP of Engineering: $213,362
12) David Atkinson, VP of Finance/Treasurer: $211,890
13) Randall Badaeux, Director of Programming: $207,830
14) William Lyons, Principal Data Scientist: $188,4592
15) Chuck Pryor, KLOVE Programming Director: $187,708
16) Scott Smith, Air Talent: $178,104
17) Ed Lenane, Director of Events: $176,687
18) Frank Maranzino, Director of Studio Technology: $176,375
19) Virginia Walker, VP of Listener Services/Asst. Secretary: $163,501
20) Richard Allison, Business Manager: $155,302
21) Stacie Ford, Assoc. General Counsel/Asst. Secretary: $118,506

Total fundraising expenses for KLOVE were $5.9 million.

ShareMedia Services, of Eden Prairie, Minn., was paid $306,773 by EMF for consulting work, which includes "pledge drive coaching," IRS records show. ShareMedia describes itself as the "experts in broadcast fundraising." Gross receipts from pledge drives involving ShareMedia were tabbed at $32 million, records show.

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