Vpm Media Corporation

Nonprofit profile at a glance

EIN
540735782
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Richmond, VA, USA
Phone
8043201301
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Media, Communications Organizations

Official website

Reported finances

Revenue
$19,770,317
Expenses
$22,453,441
Assets
$27,540,374
Liabilities
$1,918,634

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

26 people listed

Executive titles in this filing

  • JAYME SWAIN (PRESIDENT AND CEO)

Highest reported compensation

  • JAYME SWAIN (PRESIDENT AND CEO): $463,965 total reported compensation
  • STEVE HUMBLE (CHIEF CONTENT OFFICER): $463,855 total reported compensation
  • DANIEL SMYTHE (CHIEF INVESTMENT OFFICER): $324,643 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To use the power of media to educate, entertain and inspire, using public television and public radio to make a positive impact on the communities throughout central Virginia, charlottesville, the shenandoah valley, the northern neck and mecklenburg county regions.

What it reported doing in 2024

Educational engagement: vpm early childhood care & education program works with more than 50 community partners in the greater richmond, charlottesville, and harrisonburg communities to help families and caregivers prepare young children ages 0-8 for success in school. Focusing on families who are the furthest from opportunity. Science matters works with over 50 community partners in the greater richmond, charlottesville, and harrisonburg communities to encourage k-12 students, teacher, parents and the general public to value science and understand its importance to our future.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 90% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 73
  • Accountability: 100
  • Sustainability: 28
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.9%; rating input score 78
  • Program expense ratio: 66%; rating input score 66
  • Fundraising efficiency: $8.18 raised per $1 spent on fundraising; rating input score 33; 33rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -13.6%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 1.23; rating input score 44; 44th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 79; 79th percentile among comparable filings
  • Officer compensation ratio: 10.8%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: 9% per year; rating input score 100; 66th percentile among comparable filings
  • Revenue growth: 4.2% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: 3.2% per year; rating input score 100; 24th percentile among comparable filings

Details

  • Where the money goes: 77.9% of revenue deployed · 66% of spending went to programs
  • Governance: 17 of 17 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $14.8M in reported program spending
  • Leadership: top reported pay $464K · 26 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $227K reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 8 filed schedules · includes grants and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 33/100.
  • High — Sustainability: Operating margin scored 7/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 44/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.