The $5-10 million loan to KQED approved through the Paycheck Protection Program (PPP)

The $5-10 million loan to KQED approved through the Paycheck Protection Program (PPP)

By Lynda Carson - July 14, 2020

According to the data base and PPP tracking search engine created by ProPublica, an investigative news organization, the records reveal that through the Paycheck Protection Program (PPP), a $5-10 million loan was approved for KQED INC., on April 9, 2020.

The KQED radio and TV station is located in San Francisco, and the entity that later became known as the Northern California Public Broadcasting INC., and KQED, INC., was originally incorporated in California during June 1952.

KQED TV airs a lot of great shows including the News Hour, Antiques Roadshow, and often they have great classic films airing on Saturday nights. Additionally, KQED has some great shows airing on the radio that people love to tune into.

KQED is part of the Public Broadcasting System (PBS), which according to many is by far superior in contrast to the corporate major media news and radio networks dumbing down America. Especially the Fox News propaganda network promoting the hateful activities of the fascist right-wing extremist Trump regime.

Coronavirus Covid-19 Pandemic and the Paycheck Protection Program (PPP).

During the past 5 months or so, what is now known as the coronavirus Covid-19 pandemic, it has wreaked havoc on us locally, and all across the nation leaving tens of thousands of people dead and sick in its wake, with no end in sight.

Meanwhile, it has created an economic disaster throughout many parts of our country, including the madness of the face mask wars pitting neighbor against neighbor in the struggle to avoid the deadly virus, and saving lives.

As a result, many corporations and nonprofit organizations have sought financial assistance through various programs including the Paycheck Protection Program (PPP), as part of the CARES Act.

Indeed, according to the fantastic data base and PPP tracking search engine created by ProPublica, the records reveal that through the Paycheck Protection Program (PPP), a $5-10 million loan was approved for KQED INC., on April 9, 2020.

Additionally, according to ProPublica on its website, in part it reads, “As part of the Paycheck Protection Program, the federal government provided up to $659 billion in financial support to banks to make low-interest loans to companies and nonprofit organizations in response to the economic devastation caused by the coronavirus pandemic. Search the loans approved by lenders and disclosed by the Small Business Administration (SBA).

Companies and nonprofit organizations that receive PPP loans may have the loans forgiven if they meet certain criteria, including not laying off employees during an 8-week period covered by the loan. Applicants must attest in their application that the loans are necessary for their continuing operation.

Note: This data includes loan applications approved by banks and submitted to the SBA. It may not reflect money distributed to, or credit used by, a given company.”

KQED INC:

According to the KQED INC., 990 tax filing for the period ending September 2018, after subtracting their liabilities from their assets KQED INC., had net assets or fund balances of $228,060,289 ending September 2018, with gross receipts of $95,914,468 in that same period.

Additionally, during that same time period in 2018 at KQED, the following people listed below were paid over $200,000 in wages and compensation:

John Boland, President & CEO, at the time made $495,234, plus $96,321 in other compensation from the organization and related organizations. A total of $591,555.

Sarah Sawyer, Local Marketing Director, was paid $402,958, plus $15,002 in other compensation from the organization and related organizations.

Michael Black, Director of Sales, was paid $300,740, plus $16,799 in other compensation from the organization and related organizations.

Michael Isip, Executive VP & COO, was paid $290,123, plus $15,773 in other compensation from the organization and related organizations.

Daniel Mansergh, Chief Technology Officer, was paid $225,412, plus $31,009 in other compensation from the organization and related organizations.

William Lowery, General Counsel & Corporation Secretary, was paid $224,059, plus $24,428 in other compensation from the organization and related organizations.

Mitzie Kelly, Chief Financial Officer, was paid $232,446, plus $32,373 in other compensation from the organization and related organizations.

Elizabeth Seirmaro, another Local Marketing Director, was paid $218,657, plus $38,120 in other compensation from the organization and related organizations.

Jo Anne Wallace, GM KQED Radio, VP TV & Radio, was paid $298,567, plus $22,448 in other compensation from the organization and related organizations.

Holly Kernan, VP News, was paid $202,575, plus $27,216 in other compensation from the organization and related organizations.

Melinda Mrowka, was paid $200,726, plus $12,732 in other compensation from the organization and related organizations.

In contrast to the mainstream TV and radio counterparts across the nation, the above figures for wages and compensation at KQED are small compared to what the people are raking in while working with the major networks.

In a KQED INC., recent 06/04/2020 filing (Corporation - Statement of Information) with the California Secretary of State, it lists attorney Hank Barry as CEO of KQED, and Nancy Serrurier as Secretary.

The original vintage articles of incorporation were filed with the California Secretary of State on June 19, 1952, for what later would be known as Northern California Public Broadcasting INC., and KQED, INC.

It would be a great loss if KQED, or the fantastic local KPFA radio station (94.1 FM) went down the tubes because of the economic disaster that has arisen since the coronavirus Covid-19 pandemic has spread across the nation, with no end in sight.

Especially because of the reckless irrational juvenile nature of the impeached President Donald J. Trump who has been more interested in providing clemency and commuting the sentence of the convicted criminal felon Roger Jason Stone Jr., than to provide protection against the coronavirus Covid-19 pandemic killing tens of thousands of loved ones all across the nation.

Lynda Carson may be reached at tenantsrule [at] yahoo.com

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