2020-07-10T14:37:04-07:00 2019-06-30 042104397 WGBH EDUCATIONAL FOUNDATION 1 GUEST ST BOSTON MA 021352016 990 2018-07-01 042104397 WGBH Educational Foundation WGBH 6173002000 One Guest Street Boston MA 02135 Irvin A Alexander III CFO 2020-07-10 true WGBH Educational Foundation 6173002000 2018 2020-09-23 17:36:50Z Jonathan C Abbott One Guest Street Boston MA 02135 396060476 false false X www.wgbh.org X 1951 MA WGBH enriches people's lives through programs and services that educate, inspire, and entertain, fostering citizenship and culture, the joy of learning, and the power of diverse perspectives. 29 27 1588 1500 5292687 202434281 123418771 16981335 73615958 6811052 7572510 5615221 115914 231841889 204723153 4601661 5387233 0 92946822 95246766 750052 733370 28183836 116598240 119248895 214896775 220616264 16945114 -15893111 914594427 849469719 310672730 326730563 603921697 522739156 WGBH enriches people's lives through programs and services that educate, inspire, and entertain, fostering citizenship and culture, the joy of learning, and the power of diverse perspectives. false false 176619409 5387233 73615958 The WGBH Educational Foundation, based in Boston, provides a wide range of programs, events and services that position it as one of America's preeminent public media institutions. From its roots as a local public radio and TV station, WGBH has continually enhanced its service to its community and the nation and has become PBS's single largest producer of national content for TV and the Web. WGBH also is a major source of digital content and programs for NPR and affiliated with PRX.At WGBH, we are deepening our commitment to delivering programs that foster opportunity and equityensuring that our content is inclusive and representative, broadening the reach of our news operations, and reaching our audiences where they are. We share our stories across formats, on our website, social media and email newsletters; through apps and podcasts and in person at our studios in Brighton and at the Boston Public Library, where we have expanded our offerings to include news panels, music events and educational activities.WGBHs storytelling educates, inspires, entertains and connects people with ideas and with one another, creating a bridge across cultures to the world around us. For 65 years, that mission has remained constant, from such local productions as Basic Black and High School Quiz Show to national series like MASTERPIECE and Antiques Roadshow. With the newly launched Emerging Platforms Initiative, WGBH is reaching the next generation of public media fans with a strategic blend of digital programs on multiple platforms.WGBH has long been a trusted partner to educators, parents and children, creating high quality educational programs and services that give kids opportunities for success. We continually enhance the offerings of PBS LearningMedia, the free, online digital media service developed by WGBH and PBS. With more than 100,000 educational resources for teachers that are aligned with curriculum standards and used by educators in every state. We provide direct learning services to Boston Public Schools, with a focus on new immigrant families. Our award-winning science series NOVA is the most-used science resource in America's high schools. NOVA shared the film Addiction with local and state policymakers and educators via almost 100 community screenings across the country. Molly of Denali, WGBHs newest childrens program, is the first to feature an Alaska Native as the lead, showcasing Native culture and using informational texts to teach how to gather information.WGBH News is one of the fastest growing local news providers in Greater Boston and operates a vibrant and expanding local radio newsroom with original productions. WGBH News garnered five regional Edward R. Murrow Awards in 2019.Through history, music, art, drama and cooking, WGBH programs allow us to explore more deeply cultures across the globe. American Experience explored the Apollo missions with a multiplatform initiative Chasing the Moon, including a behind-the-scenes look at mans first steps on the moon. ANTIQUES ROADSHOW prepared to mark its 500th episode. WGBH is a pioneer in media access services for 35 million Americans with hearing or vision loss. 176619409 true true false true false false false false false true true true false true false true false true false false true true false true true false false true false true true false false false false false false false false false false true true false false true true true true false false true 851 0 true 1588 true true true false false false false true true false 0 false false false true false false false false false false false false X 29 27 true false false false false false false true true false false true true true true true true true true true true CT MA NH RI X X Irvin A Alexander III 6173002444 One Guest Street Boston MA 02135 Jonathan C Abbott President & CEO 40.00 1.00 X X 691526 0 42106 Henry Becton Jr Vice Chair 24.00 1.00 X X 79557 0 19473 Richard M Burnes Jr Chair thru 3/19 2.00 0.00 X X 0 0 0 Amy Abrams Trste thru 3/19 1.00 0.00 X 0 0 0 Mohamad Ali Trustee 1.00 0.00 X 0 0 0 Marcia Blenko Vice Chair 2.00 0.00 X X 0 0 0 Lynn B Dayton Vice Chair 2.00 0.00 X X 0 0 0 Pam Eddinger Trustee 1.00 0.00 X 0 0 0 Juan Enriquez Trste thru 3/19 1.00 0.00 X 0 0 0 Grace Fey Trustee 1.00 0.00 X 0 0 0 Ann M Fudge Chairman 2.00 0.00 X X 0 0 0 Benjamin Gomez Trustee 1.00 0.00 X 0 0 0 Susan B Kaplan Trustee 1.00 0.00 X 0 0 0 Marjie B Kargman VChair thru2/19 2.00 0.00 X X 0 0 0 Ann Klee Trustee 1.00 0.00 X 0 0 0 Sara Lawrence-Lightfoot Trste thru 3/19 1.00 0.00 X 0 0 0 Paul W Lee Trustee 1.00 0.00 X 0 0 0 William A Lowell Trustee 1.00 0.00 X 0 0 0 Richard K Lubin Trustee 1.00 0.00 X 0 0 0 Christopher J McKown Trustee 1.00 0.00 X 0 0 0 Cathy E Minehan Trustee 1.00 0.00 X 0 0 0 Martha L Minow Trustee 1.00 0.00 X 0 0 0 Anthony Monaco Trustee 1.00 0.00 X 0 0 0 Liz Morningstar Trustee 1.00 0.00 X 0 0 0 Paul R Murphy Trustee 1.00 0.00 X 0 0 0 Marvin Lee Pelton Trustee 1.00 0.00 X 0 0 0 Melinda A Rabb Trustee 1.00 0.00 X 0 0 0 Jeffrey Rayport Trustee 1.00 0.00 X 0 0 0 L Rafael Reif Trustee 1.00 0.00 X 0 0 0 Carmichael Roberts Trustee 1.00 0.00 X 0 0 0 Cynthia L Strauss Trustee 1.00 0.00 X 0 0 0 William N Thorndike Trustee 1.00 0.00 X 0 0 0 Stephen Wagner Trustee 1.00 0.00 X 0 0 0 Hans P Ziegler Trustee 1.00 0.00 X 0 0 0 Benjamin Godley COO thru 11/18 40.00 0.00 X 497222 0 25664 Claudia Palmer COO 40.00 0.00 X 193032 0 6669 Irvin A Alexander III CFO & Treasurer 40.00 0.00 X 327238 0 23384 Susan L Kantrowitz VP Gen Counsel 40.00 0.00 X 266540 0 32131 Eric Brass CorpConsl Clerk 40.00 0.00 X 144754 0 18654 John Bredar VP National Programming 40.00 0.00 X 416339 0 35082 Raney Aronson Exec Producer 40.00 0.00 X 373311 0 32746 David Bernstein VP - GM Ent & Co-Pres PBSd 20.00 20.00 X 160307 233702 49255 Winifred Lenihan VP Development 40.00 0.00 X 310481 0 32402 Suzanne Zellner VP Corp Sponsorship & Membership 40.00 0.00 X 308736 0 33734 Susanne Simpson Executive Producer 40.00 0.00 X 415881 0 22788 James Braude Host Exec Editor 40.00 0.00 X 406787 0 13720 David Fanning SrAdvisor/Producer 40.00 0.00 X 331643 0 38681 Stacey Decker CTO 40.00 0.00 X 332419 0 30715 Rebecca Eaton Executive Producer 40.00 0.00 X 326476 0 33649 5582249 233702 490853 199 false true false BBC Worldwide 1120 Avenue of the Americas New York NY 10036 Program Production 4767553 Kirk Documentary Group Ltd 99 Codman Road Brookline MA 02445 Program Production 2335090 Rain Media Inc 121 West 27th Street New York NY 10001 Program Production 2130069 Ark Media 325 Gold Street Ste 602 Brooklyn NY 11201 Program Production 1368423 Left Right LLC 39 West 19th Street New York NY 10011 Program Production 1365139 65 29207733 2915262 8004795 83290981 1578994 123418771 Caption Services 515100 5184641 42717 5141924 Design Services 515100 333504 325333 8171 NCAM Services 515100 740320 740320 Production Services 515100 576245 37323 538922 Program Grants & Contract 515100 66582472 66582472 198776 16564 182212 73615958 4874945 74711 4800234 0 2200135 2200135 3780525 5174098 -1393573 -1393573 -1393573 187448443 184750878 2697565 2697565 2697565 721699 1412347 -690648 -690648 0 0 0 204723153 67004409 5292687 9007286 1788661 1788661 0 3598572 3598572 0 3758557 2854268 320612 583677 0 75203452 57109902 6414996 11678554 2402875 1824756 204970 373149 8258967 6271904 704505 1282558 5622915 4270072 479645 873198 0 1775037 908936 692103 173998 672867 337161 274272 61434 196000 196000 733370 733370 3053676 3053676 7563438 3706546 670703 3186189 8251193 4322361 627780 3301052 1671849 1061622 469167 141060 2890391 2372495 60892 457004 1437460 1431772 5688 5488417 3793984 983143 711290 3894591 3452070 107034 335487 0 0 8998755 5925912 1965952 1106891 0 8623296 6121327 1668902 833067 1054984 665295 318172 71517 Production and acquisitions 60676230 59346382 257063 1072785 Miscellaneous Expense 5454631 3203304 1061846 1189481 Digital Services Expense 3567997 1974849 346850 1246298 Bad Debt Expenses 564528 277258 108834 178436 -6586445 -5174098 -1412347 220616264 176619409 15813019 28183836 15577855 11165317 42501340 31377554 143918822 21763309 15576922 30459753 0 0 100949251 100937066 0 1965376 2294000 258963426 102068043 157548611 156895383 239191987 179265887 146593307 227805797 0 40612113 50770956 46893540 914594427 849469719 54251952 55958714 85442630 101627197 170978148 169144652 310672730 326730563 X 397405206 410985777 206516491 111753379 603921697 522739156 914594427 849469719 X -15893111 43448623 -93486909 -15251144 X false true X true true true X 168993910 136089138 176293893 202450181 123418771 807245893 0 0 168993910 136089138 176293893 202450181 123418771 807245893 0 807245893 5272934 4025915 4770299 10701874 7000369 31771391 196389 13302 209691 708094 705961 722325 809815 721699 3667894 842894869 126276736 0.95770 0.96340 X Support Schedule: Other Income Explanation Part II, Line 10, Other IncomeGross receipts from special events related to the organization's charitable purpose. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false true false false false false true 2231 false true 196000 198231 false false Part II-B, Line 1i - Other Activities Description Part II-B Description of Lobbying ActivityThe Foundation paid membership dues to a lobbying organization for public television that provides services on behalf of its members. The amount paid is reported on line 1(i). Working with that organization, WGBH staff members make an annual visit to Washington to meet with members of our Congressional delegation, and through the year is in contact with delegation offices to provide information about our work and acknowledge the value of federal funding to support it. The Foundation participated in an effort to educate the public about potential cuts to federal funding for public broadcasting. The Foundation shared messages with stations to help them raise awareness about the value of public media and how federal funding supports it. The communications encouraged station members and the public to let their elected officials know how they feel about public broadcasting. The direct expenses are reported on line 1(b), (d) & (g). 311813032 3064346 31937041 -15929731 330884688 82247168 224109296 8687116 -1503656 -1726892 311813032 78672085 2997154 9816353 -8452168 -802656 82247168 82676136 2819514 -3061636 -3153783 -608146 78672085 83660734 1851905 357573 -2589303 -604773 82676136 0.82460 0.12530 0.05010 false false false 6716080 6716080 174885896 55337365 119548531 41757408 34211687 7545721 35604042 12518991 23085051 156895383 227805797 Beneficial interest in perpetual trust 1731834 Brewster Radio License 1365000 Capitalized Broker Fees 953014 Deferred Asset - Rental Income 1018128 Deferred Compensation 982220 Funds held under bond agreements 2119898 National Public Media, LLC 378938 Outside Managed Trusts 906823 Public Media Distribution, LLC 21003855 RadioPublic 132117 RoundCorner WCRB Radio License 14441713 WFXZ Television License 1860000 46893540 X 237242139 43448623 788738 -8664699 35572662 201669477 3053676 3053676 204723153 224937771 788738 6586445 7375183 217562588 3053676 3053676 220616264 Part V, Line 4: Intended uses of the endowment fund. Endowment fund is held to support future programs and services to fulfill the organization's mission. Part X : FIN48 Footnote The Foundation is exempt from federal income taxes under Section 501(c)(3) of the United States Internal Revenue Code. US GAAP requires the Foundation to evaluate tax positions taken by the Foundation and recognize a tax liability (or asset) if the Foundation has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Foundation has analyzed the tax positions taken and has concluded that as of June 30, 2019, there are no significant uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the consolidated financial statements. Part XII, Line 2d: Other expenses and losses per audited F/S Rental $5174098 Special Event Direct $1412347 true North America 0 0 Program Services Production Services 4115000 Central America 0 0 Investments 131291000 North America 0 0 Grants 2637000 Europe 0 0 Grants 961000 139004000 139004000 Europe Research Services 961338 WireTransfer N/A FMV North America Animation Services 2637234 WireTransfer N/A FMV 2 true false true true true false X X X X X X X true Donor Development Strateg 899 Logan St Denver CO 80203 Consult Strateg false 743290 590001 153289 InfoCision 325 Springside Drive Akron OH 44333 Consult Strateg false 231612 79689 151923 Next Generation Fundraisi 1235 Westlakes Dr Ste130 Berwyn PA 19312 Consult Strateg false 1634168 63680 1570488 false 2609070 733370 1875700 MA NH CT RI Auction 171037 171037 208193 Christmas Celtic Event 100533 100533 7334 10 450129 450129 1196820 721699 721699 1412347 1412347 -690648 Part I, Line 2b - Fundraiser Additional Information A portion of the amounts shown in Part I for Donor Development Strategies is canvassing expenses for new member development to build the Foundation's membership file. true Ark Media 325 Gold Street Ste 602 Brooklyn NY 11201 133956087 16664 0 FMV Co-production services for programs Education Development Center 43 Foundry Avenue Waltham MA 02453 042241178 501(c)(3) 823942 0 FMV Research services for programs Harvard University 6 APian Way 339 Gutman Libra Cambridge MA 02138 042103580 501(c)(3) 12934 0 FMV Research services for programs Kentucky Education Foundation 600 Cooper Drive Lexington KY 40502 610722558 501(c)(3) 31359 0 FMV Research services for programs Lawrence Klein Productions 1211 Light St Apt 114 Baltimore MD 21230 216527809 16713 0 FMV Co-production services for programs Lone Wolf Pictures 10 Cottage Road S Portland ME 04106 043341545 26946 0 FMV Co-production services for programs Moonshot LLC 11 Morton Rd Rhinebeck NY 12572 473258894 534893 0 FMV Co-production services for programs Oregon State University A312 Kerr Admin Corvallis OR 97331 611730890 Govt 241506 0 FMV Evaluation services for project University of California SB 552 University Rd MC 2040 Santa Barbara CA 93106 956006145 Govt 83704 0 FMV Research services for programs 5 4 Grantmaker's Description of How Grants are Used Pre-Award Often, a federal agency funding a project (or other funder), wants to know at the beginning of the project about the planned use of subrecipients. It is crucial that expenditures for subrecipients are classified correctly in budgets and project plans and are approved by the funder before work begins, and that the risk of the subrecipient's noncompliance with federal rules and grant conditions be evaluated. All potential subrecipients must also be verified against the Governments Excluded Parties List (EPL) (www.sam.gov; see also http://exclusions.oig.hhs.gov/Default.aspx). Procurement staff is to compare the names of each subrecipient against the EPL and print out any results of the search. Evidence of the search of the EPL must be maintained in the project files. If the subrecipient shows a record of suspension or debarment in the EPL, Project Staff must not proceed with that subrecipient and must alert the Compliance department. WGBH is prohibited from using any supplier/service provider on the EPL, and any work then in progress with a subrecipient on the EPL must be terminated immediately.Post-Contract Monitoring Once the contract has been signed and work has commenced, WGBH and the project team are responsible for monitoring the performance of the subrecipient. Subrecipient monitoring occurs in two forms:Performance Monitoring This involves the project team ensuring that the subrecipient is meeting the performance requirements of the contract and award, including timeliness, scope and results. This monitoring is generally performed by the project team and can be accomplished through meetings, conversations or other methods. Site visits are another monitoring procedure to evaluate the subrecipients compliance with the terms of the project/award and the appropriateness of the subrecipients administration of the project. All performance monitoring activities should be documented in the project files. If issues are identified, the related follow-up or corrective action taken should also be documented in the project file.Compliance Monitoring WGBH is also responsible for monitoring the subrecipients compliance with applicable laws and regulations. This can be accomplished in multiple ways. Annually, WGBH will send a questionnaire to all known subrecipients requesting a copy of their most recent Single Audit report and other information. Responses will be sent back to WGBHs Compliance department, which will review the results and follow up on any findings identified. All responses will be verified against the U.S. Federal Audit Clearinghouse website. If issues are identified that impact a particular project, that project team will be notified. Compliance department will then work with the subrecipient and the project to resolve the issues noted. A final determination on the issue (including references, if applicable) will be provided to the subrecipient within six months of issue identification and any corrective action required of the subrecipients must be completed as soon as possible. X X X X X false false false false false false false true false false Benjamin Godley COO thru 11/18 388006 90000 19216 5623 20041 522886 Claudia Palmer COO 142417 50000 615 6669 199701 David Bernstein VP - GM Ent & Co-Pres PBSd 124472 130323 35000 95000 835 8379 5265 18500 24674 816 190246 253018 David Fanning SrAdvisor/Producer 331424 219 11000 27681 370324 Eric Brass CorpConsl Clerk 137223 6791 740 5714 12940 163408 Irvin A Alexander III CFO & Treasurer 296542 20000 10696 10668 12716 350622 James Braude Host Exec Editor 396147 7500 3140 11000 2720 420507 John Bredar VP National Programming 349755 50000 16584 10916 24166 451421 Jonathan C Abbott President & CEO 555704 115000 20822 11000 31106 733632 Raney Aronson Exec Producer 316820 56000 491 10878 21868 406057 Rebecca Eaton Executive Producer 309206 15600 1670 10642 23007 360125 Stacey Decker CTO 276999 50000 5420 8612 22103 363134 Susan L Kantrowitz VP Gen Counsel 247420 17500 1620 10129 22002 298671 Susanne Simpson Executive Producer 241932 172250 1699 9894 12894 438669 Suzanne Zellner VP Corp Sponsorship & Membership 276879 30000 1857 11000 22734 342470 Winifred Lenihan VP Development 278624 30000 1857 10913 21489 342883 Part I, Line 7: Non-Fixed payments not listed above Compensation determinations are based on performance, considered within the context of independent benchmark data for comparable positions at similar organizations and supported by relevant documentation. A Massachusetts Development 043431814 57583RYA7 2008-05-29 129932510 Refunded 12/10/07,3/30/06,8/11 false false false B Massachusetts Development 043431814 57584XRV5 2016-07-27 49263554 Refunded 05/29/08 false false false C Massachusetts Development 043431814 57584X6N6 2017-12-19 23666901 Refunded 05/29/08 false false false A 6045000 129932510 117195573 8196722 4540215 2008 true false true true B 45885000 49263554 48749002 514552 2018 false true false true C 22515000 23666901 23404386 262515 2018 true false true true A false true true true false 0.27230 0.01460 0.28690 false false true B false true true true false 0.27230 0.01460 0.28690 false false true C false true true true false 0.27230 0.01460 0.28690 false false true A false false false true false false false true B false true false false false true C false true false false false true A true B true C true Part VI Part I, Line A (f)Refunded 12/10/07, 03/30/06, 08/11/05, 04/10/02Rebate Date: 5/29/2018Part II, Line 7 (Bond A) Issuance Costs From ProceedsInformation on Tax Exempt BondsMassachusetts Development Finance AgencyCost of Issuance...........................$ 1,359,014.Underwriter Discount....................... 650,308.Credit enhancement......................... 4,540,215.Swap termination fee....................... 6,187,400. ______________ 12,736,937.Part III, Question 6While our private business use during fiscal year 2019 totaled 28.69%, our analysis with our bond counsel concluded that private business use during the 36 year life of the bonds was in compliance with the tax-exempt bonds financing limits for private business use. Factors included in the analysis were WGBH's initial equity contribution of 13.3%, the 5% private business use allowance for property financed with tax-exempt bonds and WGBH's projected use of its space through 2042. X 66 12972 Selling Price X 2327 Selling Price X 89 1350744 FMV X 25 8811 Selling Price X 364 32345 Selling Price X Gift Certificat 55 4213 Selling Price X Travel 165 79569 Selling Price X Tickets 141 12119 Selling Price X Other 446 75894 Selling Price 1 false true true Part I, Line 32, Hire and Use of Third Parties Automobiles are donated to WGBH through a third party organization which provides disposition services and forwards proceeds and detailed reporting to WGBH. Form 990, Part VI, Line 11b: Form 990 Review Process The Form 990 was prepared by the organization's management and reviewed in detail by tax advisors from a national accounting firm. The Chief Financial Officer reviewed Form 990 prior to it being presented to the audit committee. The audit committee reviewed the form 990 and approved for submission to the Internal Revenue Service. Prior to the final form being electronically submitted to the Internal Revenue Service, a copy was provided to all members of the board of trustees. Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts The organization maintains a written conflict of interest policy which is updated and disseminated to all employees and trustees annually. The Chief Compliance Officer of the organization requires that each key employee, officer and trustee complete a conflict of interest disclosure form annually and reviews them. In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the interest and be given the opportunity to disclose all material facts describing the nature of the affiliation, and indicating whether he or she has or may have a conflict of interest involving any financial transaction of WGBH. In the event there is a change in the information submitted in the disclosure statement, the person submitting it is to promptly submit written notification of the change. At the conclusion of the fiscal year prior to the submission of the Form 990, a governing body member is required to disclose any conflicts of interest that may have existed during the prior fiscal year using the provided questionnaire. All transactions disclosed by trustees or officers as related-party transactions shall be reviewed by the audit committee of the board of trustees, provided that only those members of the committee who have no involvement with any related-party transactions involving the Foundation ("Independent Trustees") shall participate in such review. In the case of a transaction that is covered, the audit committee shall determine whether, all factors considered, the transaction is fair and reasonable to, and is in the best interest of the Foundation. Approval of a related-party transaction shall require a majority vote of the Independent Trustees at a meeting at which there is a quorum determined solely with regard to Independent Trustees. Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management The organization's Compensation Committee of the Board of Trustees is an independent committee, the members of which each year verify that they do not have any conflicts of interest with respect to the compensation paid to the Chief Executive Officer and top management employees. This committee reviewed the confidential feedback from the direct reports that relate to the Chief Executive Officer's annual goals and performance, and determined the Chief Executive Officer's compensation package. The committee also reviewed and approved the compensation package for all executive leaders that was prepared by the CEO and COO. The committee utilized third party data and surveyed the trustees using a questionnaire to benchmark comparable compensation packages for the CEO and other key executive roles in functionally comparable positions and similar sized organizations. The compensation review is an annual process and is documented each year in the compensation committee minutes, in which the deliberation and decisions regarding the compensation arrangements for the CEO and the executive leadership team are recorded. The compensation committee reports on its meetings and actions to the full board of trustees or the executive committee of the board. Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees See explanation for Form 990, Part VI, Line 15a above. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available The Organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request. Other Changes In Net Assets Or Fund Balances - Other Decreases Net Asset Transfer = -$17007969 Other Changes In Net Assets Or Fund Balances - Other Increases Other gains = $1756825 Form 990, Part IV, Line 12 Question: Audited Financial Statements As the organization and its subsidiaries meet the GAAP requirements for consolidation, the organization received consolidated audited financial statements for the year for which it is completing the return. An independent auditing firm conducted the audit of the financial statements. The audited financial statements were prepared in accordance with GAAP. Form 990, Part IX, Line 24e Other Expenses The reclass shown in other expenses in the Statement of Functional Expenses is done to more accurately allocate indirect expenses to the applicable functional expense categories. (A) (B) (C) (D) Program Management Total Services & General Fundraising ---------- ----------- ----------- -------------Event Expense -1,412,347. -1,412,347.Rental Expense -4,805,223. -4,805,223. ---------- ------------ ----------- ------------- Total $-6,217,570. $0. $-4,805,223. $-1,412,347. ========== ============ =========== ============= Form 990, Part VI, Line 16(b) Question: Written policy or procedure on joint venture participationThe organization consults with legal counsel while evaluating its participation in new joint venture agreements to ensure the organization does not engage in activities that could jeopardize its tax-exempt status. Form 990, Part VI, Sec A, Line 2, Public Media Distribution Co. (PBSd) Jonathan C. Abbott and Henry Becton, Jr. are both officers of WGBH Educational Foundation and trustees of Public Media Distribution Company (PBSd). Form 990, Part XI, Line 8 Prior Year Adjustments WGBH adopted ASC 606 for fiscal year 2019 using a modified retrospective application for contracts that were not completed as of the date of the initial application and the practical expedient for contract modifications. This method recognizes the cumulative effect of initially applying ASC 606 as an adjustment to the opening balance of net assets as of July 1, 2018 for contracts not completed at the date of initial application. Under ASC 606, WGBH recognizes licensing and national underwriting revenue upon delivery of the film. Production costs are capitalized as incurred and amortized consistently with the delivery of the film, which occurs on an episodic basis.As a result of ASC 606 adoption, WGBH recorded a total reduction of $93,486,909 to net assets as of July 1, 2018. This adjustment was comprised of a $13,567,651 increase in net assets without donor restrictions, and a $107,054,560 decrease in net assets with donor restrictions. 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