- “KPFK owes about $300,000 to the Pacifica National Office which imperils the entire Network. (According to the KPFK Business Manager in the KPFK Finance Committee meeting of Jan. 13, 2021 the exact amount is $294,632.) Pacifica owes its accounting firm over $200,000. If this firm stops work for us it could jeopardize our nonprofit status, delay our audits and violate the terms of our $3.2 million loan.
The Pacifica National Office no longer has reserves to cover KPFK shortfalls. According to Anita Sims, Pacifica interim Chief Financial Officer, funds will have to be taken from KPFA to cover them.
KPFK has a narrow window of time to maintain its independence. All efforts to improve KPFK income have either failed completely or been inadequate to make up for revenue declines. If action is not taken to reduce expenses immediately drastic measures very damaging to KPFK may take place. If KPFK can’t raise enough money to pay its expenses it may have to be shut down or its building sold.
Sharon Adams, KPFA Treasurer, has stated several times that any station that can’t pay its bills should have all of its staff laid off and be converted to a ‘repeater’ station. You can hear her saying this in the National Finance Committee meeting of Oct. 27, 2020.”