LEAK: Proof Financial Crisis Manufactured with Help of IRS, CPB and FEDS!!!

The following prove the vast conspiracy to manufacturer a financial crisis at KBOO include the highest institutions of the US government, including the IRS!  FOIL HAT TIME!!!!

The Big Lie is that there is no financial crisis other than the one created by absorbing the Winter Drive into two other drives.

Here is documentation of the deficits we incurred from 2007 to 2010. A request to the KBOO Finance Director can get the same documentation of the size of the deficit in 2011 and 2012. The 2013 budget was planned to be a deficit budget as well and we can be fairly sure that we will end up with a deficit at the end of our fiscal year. How much longer can this go on? Not much.

Members who resist change say KBOO gets by just fine with just member contributions. They think another fund drive will make us solvent, ignoring a history of deficit spending each year, going back to at least 2007.

How is KBOO surviving with insufficient funding from members? By drawing down its reserves which date back to the days of federal funding. The reserves will not be replenished, at least not by future federal funds. KBOO lacks the number of listeners it needs to qualify. 

Here are the 990 Forms KBOO submits to the IRS, and which the charity watchdog site Guidestar make available on their website.

Documentation of deficit spending. 2007-2010.

Reports attached and source link provided to verify authenticity.

The 2011 and 2012 990's available at KBOO on request. Send an email, and they are obliged to provide the document in a timely manner.  

Background

IRS Form 990.

What is the form 990?

http://www.guidestar.org/rxg/help/faqs/form-990/index.aspx#faq1942

KBOO's reports should be on its web site but its hard to navigate. Guidestar is a reliable source for non-profit organization's 990s

KBOO's 990's found on Guidestar (as received from the IRS).

2010 and prior year. 

Attached document name: 2011-237232987-0876a476-9

See line 19 for statement of deficit.

from http://www.guidestar.org/FinDocuments/2011/237/232/2011-237232987-0876a476-9.pdf

2009 and prior year.

Attached document name: 2010-237232987-07770147-9

See line 19 for statement of deficit.

From: http://www.guidestar.org/FinDocuments/2010/237/232/2010-237232987-07770147-9.pdf

2008 and prior year

Attached document name: 2009-237232987-065b0359-Z

See line 18 for statement of deficit.

From http://www.guidestar.org/FinDocuments/2009/237/232/2009-237232987-065b0359-Z.pdf

2007 and 2006 available with premium account on Guidestar. 

Here is some information from the time KBOO was kicked off the federal gravy train.

"The price of running KBOO the way it has been run for 30 years is its federal funding. Since last fall, CPB has put KBOO and five other stations "on probation," and KBOO lost approximately half of its expected $68,000 in grants. KBOO has appealed that decision, but in the meantime is planning schedules changes so that it will meet the new minimum audience levels set by CPB.

The risk has been clear since 1996, when participants in CPB's grant review released a list of about 80 stations whose CSGs would be endangered--the so-called "Dis List." KBOO was on that list.  

<snip>

Chris Merrick, the program director and sometime g.m.--a tall man with a long, blond ponytail--reviews the situation: The station was expecting $68,000 in CPB grants for fiscal 1998. "Our troubles began around August 1997 when we talked to CPB and found out that this was not the case."

Because KBOO met neither the minimum audience standard nor the minimum fundraising standard (story, page 1), it will receive $33,643 from CPB this fiscal year--about half of what it expected. With the loss, KBOO's revenues dropped 10 percent.

<snip>

Merrick confirms that the federal money has been used for salaries, Pacifica programs, satellite feeds and the Associated Press service. "We've looked at the AP wire. If we can't come up with a news grant, we might have to cut it, which will really devastate our newscasts."

from: http://www.current.org/wp-content/themes/current/archive-site/cpb/cpb805k.html

KBOO continues to pay for staff salaries out of the reserves built up during the days of federal funding. Meanwhile, listenership has fallen to even lower levels, while staffing levels, largely, have not.

The reserves are nearly depleted.

There is no conspiracy to destroy KBOO -- other than the conspiracy to deny the facts of our financial condition, easily verified by legal documents KBOO files with the IRS.

That proves it!  The IRS is the Enemy of the people!!!  More so than usual, that is...
So is the FED!!!!

"The price of running KBOO the way it has been run for 30 years is its federal funding."

No wonder our Foil Hat Cadre has been so committed to Ending The FED!
 Besides, who needs the Feds?  KBOO is community funded radio!   As the diminishing community funds KBOO, loyal cadre will simply INCREASE their donations to compensate!     Many members of the community are ready to contribute! We can get a loan from that nice Russian man we met last week representing a bank in Cyprus!   We're sure he was only joking about the cement shoe default clause!  What could possibility go wrong with Our Glorious Leader at the helm?

Full FUBAR ahead!!!!

-Meresa Titchell