This RI Non-Profit Is Sitting on More Than $119 Million, But Slashing Staff

This RI Non-Profit Is Sitting on More Than $119 Million, But Slashing Staff

 

The CEO of the local public broadcasting company has announced staff buyouts, and if not enough staffers exit, then layoffs will hit.

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At the same time, the company is sitting on a record $119 million in assets, according to the most recent audit of the station.

Rhode Island PBS' bank account exploded when it participated in an FCC auction, and it received $94.4 million for moving its broadcast signal to a lower frequency. The year before the windfall, the company’s net assets were just $1.4 million.

 

Why the slashing?

Despite the overflowing bank account, financial troubles are mounting.

There are a lot of reasons — big losses, loss of federal funds, little community support, and findings of violations of federal labor laws.

RIPBS lost approximately $6.3 million operationally in 2024.  It is a remarkable amount considering the company’s total operational budget was just over $11 million.

And now, RIPBS will lose its federal funds.

CEO Pam Johnston blames federal cuts, wrote in a post to the website, “Since Congress voted to eliminate federal funding for public media, I know many of us have been feeling the weight of uncertainty and concern. We are now facing the reality of what the loss means: $1.1 million a year – or 10% of our annual operating budget – beginning this fall. This is a significant and painful cut, and it’s not unique to us here in Rhode Island - it’s reshaping public media organizations across the country.”

But, the federal cuts are less than 1% of RIPBS' assets.

 

Johnston Has a History as a “Cutter and Chief”

Johnston came to RIPBS in 2024 after four years at GBH in Boston. The end of her tenure in Boston was bumpy as that media company implemented significant layoffs.

"GBH laid off 31 employees on Wednesday and said it would stop production on three television programs immediately, a move that staffers say caught them by surprise," reported Boston.com. "The cuts at GBH are occurring a month after Boston’s other public radio station, WBUR, saw two dozen employees opt for buyouts and two staffers get laid off as the public media organization also works to mitigate revenue declines."

 

Now Buyout or/and Layoffs

Johnston posted to the company’s website, “We want to move forward with transparency and fairness. [NOTE: She refused to respond to questions from GoLocal.] That’s why today we are offering a Voluntary Separation Agreement to most of our staff members. This first step aims to provide eligible employees with agency and choice by allowing you to have a say in what comes next. It may also support colleagues already considering a career or lifestyle change.”

"Our People & Culture team will send eligible employees’ specific details within the next day, including resources for questions. One-on-one conversations are also available if you prefer. The deadline to select this voluntary option is September 5,” added Johnston.

“We are hopeful that this first step will achieve the necessary financial results. If a significant gap remains, we will have to move to staff reductions across the organization. We will not make any programming changes until we understand what our workforce will look like on the other side of this process,” Johnston continued.

And while the buyouts and potential layoffs loom, Johnston's compensation is $300,000 a year — more than 66% higher than her predecessor, David Piccerelli.

In addition, she told GoLocal in January of 2025 that she receives "healthcare benefits, and after one year of service, there is a 403 B matching percentage, which is standard for all employees. There is also the potential for additional compensation tied to performance, which has yet to be finalized."

 

Most Recent Financials Show Little Support From Rhode Islanders

According to RIPBS’ financials, the company raises little in the way of fundraising support from the community and far less in corporate support.

Subscriptions and memberships generated just $719,000, and corporate sponsorship just over $319,000 in 2024, according to the audit.

 

Labor Troubles

In April, a federal arbitrator ruled against Rhode Island PBS for the public television station’s actions against its union workers.

This is the second time in recent years that RIPBS has been cited for labor violations. This latest decision orders RIPBS to reinstate the union members who were terminated in actions by the station.

Johnston has refused to answer questions about the financial implications of the labor ruling.