KBOO.FM lays off five employees, citing ‘financial outlook’

Portland community radio station KBOO.FM announced in an email to volunteers on Friday, Oct. 11 that five employees will be laid off beginning Oct. 28 “in order to maintain its financial health and ensure its future”. The announcement does not say which employees are being laid off, but includes a letter from KBOO’s board of directors shedding light on the station’s finances as of its new fiscal year that begins Oct. 1.

The board’s statement, shared with volunteers by station director Nathan Vandiver, reveals that over the past five years, KBOO has “suffered from periods of deficit spending and management instability.” The letter notes that the station used pandemic relief funds and large one-time donations to grow its staff “beyond what would be funded by KBOO’s annual operating income,” without continued cash flow to sustain operations as how are they

A 2022 audit of KBOO’s finances, the most recent year posted on the station’s website, reveals assets of more than $1.5 million, including more than $600,000 in membership contributions and more than $100,000 in loans from the payroll protection program. But compared to the 2021 audit, KBOO saw a drop of more than $150,000 in grants and contributions. KBOO expenses in 2022 totaled more than $925,000, including nearly $500,000 in staff salaries and more than $125,000 in professional fees.

Vandiver confirmed it WW that KBOO will have nine employees remaining after the layoffs. The station’s affected positions are development director, subscription coordinator, web coordinator, chief engineer and director of public affairs. Even with the approved budget cuts, the board’s letter says KBOO continues to operate at a deficit, with all available cash allocated for fiscal year 2025.

“While this will allow us to maintain operations for the year, it is a short-term solution,” the statement said. “We are committed to restructuring KBOO to ensure the station we all love and trust is here for the next generation of radio makers and listeners.”