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Portland community radio station KBOO.FM announced in an email to volunteers Friday, Oct. 11 that five employees will be laid off effective Oct. 28, “in order to maintain its financial health and secure its future.” The announcement does not name which employees are being laid off, but includes a letter from KBOO’s board of directors shedding some light on the station’s finances as of its new fiscal year starting Oct. 1.
The board of directors’ statement, shared with volunteers by station manager Nathan Vandiver, reveals that within the past five years, KBOO “has endured periods of deficit spending and instability in management.” The letter notes the station used pandemic relief funds and significant one-time donations to grow its staff “beyond what would be funded by KBOO’s annual operating revenue,” without continued cash flow to sustain operations as-is.
A 2022 audit of KBOO’s finances, the last year posted on the station’s website, reveals assets of over $1.5 million, including over $600,00 in membership contributions, and over $100,000 in Payroll Protection Program loans. But compared to 2021′s audit, KBOO saw a drop-off of more than $150,000 in grants and contributions. KBOO’s 2022 expenses totalled over $925,000, including nearly $500,000 in staff salaries and over $125,000 in professional fees.
Vandiver confirmed to WW that KBOO will have nine remaining staff employees after the layoffs. The station’s affected positions are the development director, underwriting coordinator, web coordinator, chief engineer and public affairs director. Even with approved budget cuts, the board’s letter says KBOO is still operating at a deficit, with all available cash on hand allocated for the 2025 fiscal year.
“While this will allow us to sustain operations for the year, it is a short-term solution,” the statement reads. “We are committed to restructuring KBOO to make sure the station we all love and rely on is here for the next generation of radio makers and listeners.”