In 2017, KEXP combined prudent financial stewardship with deliberate, strategic investments in programming, education, and community engagement. KEXP’s total operating revenues for the year were $10,912,019.
The largest portion of KEXP’s support came from 18,544 individual donors, donor-directed funds, corporate matching programs, and family foundations. The $4,424,581 raised by these combined groups made up 40.5% of the organization’s operating revenue. Business support met projections in 2017, surpassing the prior year with $2,455,280 or 22.5% of total revenue.
KEXP’s programming endeavors—including event ticket sales—accounted for $179,897 or 1.6% of total revenue.
In 2017, KEXP’s operating expenses totaled $10,799,410. Of that figure, 65% was dedicated to programs, while fundraising and administrative costs accounted for 31% and 5%, respectively.
The Corporation for Public Broadcasting funding for KEXP's annual operations in 2017 totaled $634,570, or 5.8% of the total budget. This amount supported KEXP's broadcast service and costs related to KEXP's syndicated live performance program Under the Needle. 4Culture's Sustained Support program, the City of Seattle's Civic Partners program, Washington State Arts Commission, the National Endowment for the Arts, US Bank Foundation, Upstream Music Fest + Summit, and Lucky Seven Foundation also provided support for operations totaling $475,000 or 4.4% of the total budget.
Individuals, organizations, and businesses contributed in-kind support in the form of goods and services totaling $2,274,285 or 20.8% of total budget, a major portion of which came from key partner, University of Washington. Additional major in-kind support was provided by Microsoft, Assembly Media, and Publicis North America.
In 2017, KEXP received $7,500,000 in payments from Suzanne’s bequest, which was dedicated to a quasi-endowment fund. This fund generated $160,196 in investment income, for a total of $7,660,196. Future financial statements will also reflect a planned giving receivable of $2,400,000 for the expected remainder of this bequest.