WBAI Treasurer R Paul Martin’s W9Oct2019 report

Apologies for posting this so late. Commentary to follow today.

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https://glib.com/treasurers_report_2019-10-09.pdf (six pages)

Additional documentation from the Treasurer: https://glib.com/wbai_coup_2019.html

Mr Martin appended to his report WBAI’s FY2020 cashflow projection, with FY2018 & 2019 comparatives (year-end is 30Sep). This was taken from ICFO Tamra Swiderski’s undated cashflow report presented to the Th19Sep private PNB meeting. (Why private you may rightly ask – but that’s the default obdurate & deep secrecy culture permeating almost everyone occupying a seat on a Pacifica committee.) That report has individual FY2020 cashflows, with the two comparatives, for each of the five stations, the Radio Archives & National Office, & then an aggregation of the seven (consolidation, in the jargon).

Cashflow statements must be interpreted carefully, not least because they ignore both expenses that have accrued (so not yet billed) & revenues that have been deferred (again, not yet billed). Given Pacifica’s activities, especially how revenues are generated, cashflow statements materially underestimate its accrued financial position, & therefore whether creditors are smiling or frowning, & how intensely.

https://mega.nz/#!mmZUkICB!1c74TQ4oTKyQ6dHNB_h5eLYHspltLDujlGFbEcj-X_c (9 pp.)

Please note that given the ICFO’s assumptions, KPFA’s cumulative cashflow deficit for the three years to 30Sep2020 is $1 091 306, more than 2½ times that of WBAI’s. Lest anyone think this is just about the past, KPFA’s deficit for the year just started is projected to be $658 207. They don’t tell you those three facts in quite a few Pacifica forums. Such is the work of ideology, here that of California station chauvinism, exhibited as separatism, not solidarity.

One thought on “WBAI Treasurer R Paul Martin’s W9Oct2019 report

  1. bernieS 20 December, 2019 / 07:29

    WBAI Treasurer R Paul Martin’s W9Oct2019 report failed to mention what WBAI management has known for most of this year and concealed–that the October 2019 fund drive constituted illegal financial conduct and had to be stopped.

    Pacifica’s iED John Vernile (who was also the CEO and GM of the entire organization) knew about it, too, and had a legal obligation to stop it. And he did that.

    Since early this year, I’ve been telling WBAI management and Pacifica Officers that I discovered–as a WBAI staffer and longtime donor-member–that the Office of the New York State Attorney General, Social Justice Division, Charity Bureau, imposed “Delinquent” status on Pacifica for failing to file the legally required 2017 audited financial statements.

    One automatic penalty for this is a legal prohibition on soliciting financial contributions exceeding a total of $25,000 per year in New Yorke–which WBAI had already exceeded before the October 7th layoff and shutdown of local operations. A $1000 fine PER VIOLATION is another penalty which is levied after a complaint is filed with the NYS AG’s Office.

    Although the NYS AG Office directed me on to how to file a complaint, as a staff whistleblower I instead chose to have this addressed internally by repeatedly bringing this serious legal compliance issue in writing to WBAI management and others. Maxie Jackson acknowledged it but did nothing. John Vernile is the only Pacifica employee who did anything about it.

    Earlier this year, instead of acting on it, WBAI management blew me off, instructed me to stop emailing them about this, and said they’d block further emails from me about this from reaching them. I have all of this in writing. it’s pretty damning to have emails from WBAI management proving a coverup of their knowing and willful illegal financial conduct.

    It’s a red herring R Paul Martin and many others have been circulating that John Vernile thoughtlessly prevented WBAI from raising money in October that it and Pacifica badly needed. Vernile was legally obligated to stop the illegal financial conduct of WBAI management and staff.

    In November, the man who launched expensive litigation against Pacifica, Arthur Schwartz, lied in writing to the PNB and many others about this in an apparent effort to whitewash it. I have documentation from the NYS AG supporting this, and which proves that WBAI management is STILL engaged illegal financial conduct.

    For communicating these facts to WBAI management and staff as a whistleblower, I have been repeatedly attacked and called a liar on the air by WBAI staff, and by Arthur Schwartz. It’s beyond ironic that Pacifica’s Board has since retained legal counsel who cost Pacifica a great deal of money and who has been lying to them, and concealed illegal financial conduct by the management of WBAI which allows him to produce a weekly radio show on that station.

    I am happy to share the New York State Attorney General documentation and other documentation proving what I’m saying is true.

    -bernieS
    WBAI staff whistleblower
    WBAI-Pacifica Donor/Member

    Like

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