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KQED-FM
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KQED-FM (88.5 MHz) is a listener-supported public radio station in San Francisco, California. It is simulcast on KQEI-FM (89.3 MHz) in the Sacramento metropolitan area. The parent organization is KQED Inc., which also owns two PBS member television stations: KQED (channel 9) and KQEH (channel 54). The station's studios are on Mariposa Street in the Mission District of San Francisco.
Key Information
KQED-FM is grandfathered at an unusually high effective radiated power (ERP) of 110,000 watts. Its transmitter is along Radio Road, atop San Bruno Mountain, in Brisbane. KQEI-FM has an ERP of 3,300 watts, with its tower on Sorento Road in Elverta.
Programming
[edit]KQED-FM is one of the most-listened-to public radio stations in the United States.[1] It often ranks first in the San Francisco radio market in the Nielsen ratings.[2] In addition to local programming, KQED-FM carries content from major public radio distributors such as National Public Radio, the Public Radio Exchange and American Public Media, with the BBC World Service heard late nights. Popular NPR shows carried by KQED-FM and KQEI-FM include Morning Edition, All Things Considered, Fresh Air, Here and Now and Marketplace. Weekend shows include Wait, Wait...Don't Tell Me, Radiolab, On The Media, Code Switch, Latino USA, Hidden Brain, Freakonomics Radio, This American Life, The Moth Radio Hour, The New Yorker Radio Hour and The Splendid Table.
Among the locally produced shows are Forum with Mina Kim and Alexis Madrigal, The California Report and Tech Nation. The KQED-FM newsroom prepares frequent local and California news updates which air between programs, in addition to hourly newscasts from NPR.
In addition to over-the-air broadcasts, KQED-FM audio is carried on Comcast digital cable channel 960 with live streaming audio from its website and from the iHeartRadio platform. Forum is carried live, nationwide, on Sirius Satellite Radio. KQED also offers an extensive audio archive and podcasts of previous shows for download.
One of the most famous programs to have been broadcast on KQED was An Hour with Pink Floyd, a 60-minute performance by Pink Floyd recorded in 1970 without an audience at the station's studio. The program was broadcast only twice—once in 1970, and once again in 1981.[3] The setlist included "Atom Heart Mother", "Cymbaline", "Grantchester Meadows", "Green Is the Colour", "Careful with That Axe, Eugene", and "Set the Controls for the Heart of the Sun".
History
[edit]Prior KXKX-FM 97.3 MHz (1952–1956) is unrelated.
KXKX
[edit]The San Francisco Theological Seminary, a Presbyterian group, began broadcasting with station KXKX in April 1963.[4] The new 110,000-watt station signed on two years after the seminary received a construction permit from the FCC in August 1961.[5] In addition to Christian radio programming, the station's subcarrier broadcast theology courses to receivers at 44 Bay Area churches.[6]
When agencies of the Presbyterian Church (USA) could no longer support the station, KXKX signed off at midnight on the evening of June 29, 1967.[7]
KQED-FM
[edit]In July 1968, the San Francisco Theological Seminary filed to sell KXKX to the Bay Area Educational Television Association, owner of public television station KQED (channel 9).[5] The station returned to the air as KQED-FM in mid-1969, originally using the studios at 286 Divisadero Street inherited from the seminary.[5] The founding manager was Bernard Mayes, who later went on to be executive vice president of KQED television and also co-founder and chairman of NPR.
The first programming of KQED-FM included news, 'street radio' broadcast live from local street corners, drama and music. In its third year on the air, KQED-FM became one of the first 80 network affiliates of National Public Radio, one of five in California. It aired the first edition of All Things Considered. Later, due to reduced funding, Mayes opened the air to 'Tribal Radio' - productions by local non-profit groups, some in their own languages.
Expansion into Sacramento
[edit]In 2003, KQED Radio expanded to the Sacramento metropolitan area by purchasing KEBR-FM on 89.3 MHz. The station is licensed to the suburban community of North Highlands. It signed on the air on February 21, 1992.[8]
KEBR-FM 89.3 was originally owned by Family Radio, a Christian broadcaster based in Oakland at the time.[9][10] The KEBR-FM call letters and format moved to a more powerful FM station on 88.1 MHz in Sacramento. KQED Radio changed the call sign on 89.3 FM to KQEI-FM. It became a full-time simulcast of KQED-FM in San Francisco.
Locally-produced shows
[edit]In 2023, KQED acquired Snap Judgment and Spooked podcasts.[11]
Additional frequencies
[edit]In addition to the main station, KQED-FM is relayed by these stations and translators to widen its broadcast area.
| Call sign | Frequency | City of license | ERP W |
Class | FCC info |
|---|---|---|---|---|---|
| KQEI-FM | 89.3 FM (HD) | North Highlands, California | 3,300 | A | FCC (KQEI-FM) |
| Call sign | Frequency | City of license | ERP W |
Class | FCC info |
|---|---|---|---|---|---|
| K201BV | 88.1 FM | Benicia-Martinez, California | 4 | D | |
| K202CT | 88.3 FM | Santa Rosa, California | 10 | D | FCC (K202CT) |
KQED and KQEI also broadcast using HD Radio technology.[12][13][14]
References
[edit]- ^ "About KQED: KQED Public Radio". KQED. Retrieved May 19, 2020.
- ^ "Nielsen Audio Ratings". Retrieved August 21, 2018.
- ^ Povey, Glenn (2006). "The Sound of Music in My Ears 1970–1971". Echoes : The Complete History of Pink Floyd (New ed.). Mind Head Publishing. p. 131. ISBN 978-0-9554624-0-5. Retrieved September 5, 2012.
- ^ "New Radio Station Opens". The Daily Republic. Fairfield, California. April 5, 1963. p. 9. Retrieved April 17, 2025 – via Newspapers.com.
- ^ a b c "History Cards for KQED-FM". Federal Communications Commission. (Guide to reading History Cards)
- ^ "Seminary Plans Theology By TV". Independent-Journal. February 26, 1965. p. 20. Retrieved February 23, 2021.
- ^ "Final Sign-Off Tonight for Station KXKX". San Francisco Examiner. June 29, 1967. p. 21. Retrieved February 23, 2021.
- ^ North Highlands: KEBR-FM, Broadcasting & Cable Yearbook 2000 page D-53. Retrieved September 23, 2023.
- ^ Kearns, Jeff (March 6, 2003). "Radio clash". NewsReview.com. Retrieved September 20, 2014.
- ^ Larson, Mark (February 7, 2003). "NPR outlets face off as KQED buys local station". Sacramento Business Journal. Retrieved September 20, 2014.
- ^ Khalid, Amrita (August 8, 2023). "KQED acquires studio behind Glynn Washington's Snap Judgment". The Verge. Retrieved July 22, 2024.
- ^ "HD Radio station guide for San Francisco, CA". Archived from the original on September 16, 2016. Retrieved September 4, 2016. HD Radio Guide for San Francisco
- ^ "USA: California: Radio Station Market List -- RadioStationWorld.com". radiostationworld.com.
- ^ "Stations".
KQED-FM
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Station Profile and Mission
KQED-FM (88.5 MHz) is the flagship public radio station of KQED Public Media, licensed to San Francisco, California, and serving Northern California, including the nine-county Bay Area and Monterey region. Operated by the nonprofit KQED Inc., the station broadcasts from studios in San Francisco and additional locations such as San Jose, Sacramento, Fresno, and Los Angeles. It reaches listeners across multiple frequencies, including 88.3 MHz in Santa Rosa and 89.3 MHz in Sacramento via simulcast on KQEI-FM.[7][8] As a community-supported alternative to commercial broadcasting, KQED-FM relies primarily on listener donations and grants rather than advertising, emphasizing non-commercial, public-service oriented content. The station is a key affiliate of National Public Radio (NPR), airing syndicated programs such as All Things Considered and Fresh Air alongside locally produced shows like Forum. This model supports its role in providing news, talk, and cultural programming to foster informed public discourse.[9][8] KQED's stated mission is to empower individuals and communities through trusted media: "KQED is for everyone who wants to be more. Our television, radio, digital media and educational services change lives for the better and help individuals and communities achieve their full potential." The organization upholds core values including integrity, independence, inclusion, innovation, lifelong learning, and public service, though as a public broadcaster, its content has faced scrutiny for perceived left-leaning biases common in similar institutions.[7][8]Affiliation and Broadcast Role
KQED-FM serves as the primary public radio outlet for Northern California, operating as a member station of National Public Radio (NPR), which distributes syndicated news, talk, and cultural programs to affiliates nationwide.[9] Owned and operated by the nonprofit KQED Inc., the station integrates NPR content with locally produced programming to address regional issues, emphasizing independent journalism and community engagement.[1] This affiliation enables KQED-FM to broadcast high-profile NPR series such as Morning Edition and All Things Considered, alongside contributions from partners like American Public Media.[10] In its broadcast role, KQED-FM functions as a non-commercial, listener-supported service transmitting on 88.5 MHz from San Francisco, with coverage extending across the Bay Area and simulcast on KQEI-FM at 89.3 MHz in Sacramento to broaden accessibility.[1] The station airs programming focused on news analysis, public affairs discussions, and arts coverage, including flagship local shows like Forum and The California Report, which provide daily insights into California-specific policy, culture, and events.[11] Funded largely through member donations, corporate underwriting, and grants from entities like the Corporation for Public Broadcasting, KQED-FM maintains a commitment to ad-free content while streaming live and offering podcasts for digital audiences.[2] This model supports its mission of informing and connecting diverse Northern California communities through rigorous, fact-based reporting.[12]History
Origins as KXKX
The station operating on 88.5 MHz in San Francisco, later known as KQED-FM, began as KXKX, established by the San Francisco Theological Seminary, a Presbyterian institution.[13][14] The seminary launched KXKX in April 1963 as a noncommercial FM outlet focused on religious programming, including sermons, discussions on theology, and educational content aligned with Presbyterian doctrine.[15] Operating from a modest facility in a Victorian cottage on Divisadero Street, initially a former church building, KXKX served the Bay Area with low-power broadcasts emphasizing faith-based outreach and community engagement.[16] During its tenure as KXKX, the station featured announcers such as Bernard Mayes, who contributed to programming that blended religious instruction with broader public affairs discussions, such as episodes moderated by figures like Methodist minister John D. Moore.[13] The seminary's operation reflected the era's expansion of educational and religious noncommercial broadcasting, supported by FCC allocations for such entities, though KXKX maintained a limited schedule and audience compared to commercial rivals.[17] Financial constraints led to intermittent operations, including a sign-off in 1967, before resuming ahead of its transition.[18] In July 1968, the seminary filed with the FCC to transfer KXKX's license to the Bay Area Educational Television Association, the nonprofit entity behind public television station KQED-TV, marking the end of its independent religious phase.[16] The sale, finalized in 1969, enabled the station's repurposing for public radio, with the seminary donating assets to support educational broadcasting expansion in the region.[15][13] This shift preserved the frequency's noncommercial status while pivoting from denominational content to broader public service.Establishment and Early Development of KQED-FM
In 1969, the nonprofit Bay Area Educational Television Association, which operated public television station KQED-TV, acquired the FM radio station previously known as KXKX from the San Francisco Theological Seminary, marking the establishment of KQED Public Radio.[16] The acquisition enabled the expansion of the organization's educational broadcasting efforts into radio, with the station relaunching as KQED-FM later that year using the seminary's existing facilities at 286 Divisadero Street in San Francisco.[3] Bernard Mayes was appointed as the station's first general manager, overseeing the transition to a listener-supported public radio model patterned after Berkeley's KPFA.[13][19] KQED-FM began broadcasting in mid-1969 with a skeletal staff of paid professionals and volunteers, emphasizing noncommercial, community-oriented content to serve the San Francisco Bay Area.[3] As one of the approximately 90 charter members of National Public Radio (NPR) upon its formation in 1971, the station quickly integrated syndicated national programming while developing local offerings focused on education, culture, and public affairs.[19] This early phase involved resource constraints typical of nascent public radio ventures, relying heavily on memberships and grants to sustain operations amid competition from established commercial broadcasters.[3] During its initial years in the late 1960s and 1970s, KQED-FM prioritized building listener loyalty through innovative formats, including experimental "street radio" segments and news coverage that complemented its television counterpart's journalistic ethos.[20] The station's growth was supported by its alignment with the broader public media movement, which emphasized ad-free, substantive programming over entertainment-driven content, though it faced challenges in audience development and funding in a market dominated by music-oriented FM outlets.[19] By the mid-1970s, KQED-FM had solidified its role as a key voice for informed discourse in Northern California, laying the groundwork for future expansions in news and talk programming.[20]Expansion and Key Milestones
In 1969, KQED acquired an FM radio station from the San Francisco Theological Seminary, establishing KQED-FM with initial studios in a Victorian cottage at 286 Divisadero Street, marking the organization's entry into full-time radio broadcasting beyond its educational television origins.[16] This acquisition laid the groundwork for expanded radio operations, initially focusing on classical music and public affairs before evolving toward news emphasis. A pivotal shift occurred in 1987 when KQED-FM became the first FM station in the United States to adopt an all-news format, launching with gavel-to-gavel coverage of the Iran-Contra hearings from June to August, which broadened its programming to continuous news and public affairs.[16][21] By July 1, 1989, the station transitioned to 24/7 news and public affairs broadcasting, eliminating previous schedule gaps and solidifying its role as a primary source for in-depth regional coverage.[21] This format change drove audience growth, culminating in 1993 when KQED-FM became the most-listened-to public radio station nationally.[21] Facility expansions supported operational scaling; in 1991, KQED relocated to a new headquarters at 2601 Mariposa Street in San Francisco, initially prioritizing television but accommodating growing radio needs.[22] Signal enhancements included acquisition of a translator in Santa Rosa for broader Northern California reach and, later, KQEI (87.3 FM) in Sacramento from Family Stations, adding approximately 34,000 weekly listeners.[16] By 2011, KQED-FM had become the most-listened-to radio station overall in the Bay Area, reflecting sustained audience expansion to over 260,000 weekly listeners by the early 2000s and nearly 700,000 by the early 2020s during peak periods like elections.[21][23] Recent milestones include a $140 million capital campaign concluded in December 2021, funding a comprehensive headquarters renovation begun in fall 2019 to create modern studios enhancing both radio and multimedia production.[24] In May 2022, programming expanded with an evening extension of the local call-in show Forum to 8 p.m., aiming to capture additional drive-time and post-work audiences amid competitive media landscapes.[25] These developments underscore KQED-FM's adaptation to digital integration and listener demands while maintaining its non-commercial, member-supported model.Recent Developments and Challenges
In 2023, KQED experienced a sharp decline in radio listenership, prompting strategic responses including a rebranding from "Public Radio" to "KQED News" across legal IDs and promotions, alongside signal enhancements, targeted marketing, and introduction of fresh content to revitalize audience engagement.[5][26] These efforts contributed to a rebound, restoring KQED's position as a leading station in the San Francisco market by late 2025.[5] Financial pressures intensified in 2025, with KQED facing a projected $12 million budget deficit amid declining underwriting revenue, reduced foundation grants, and uncertainties in federal support.[27][28] In June, the organization offered voluntary buyouts to staff as an initial measure to stabilize finances.[28] This was followed in July by layoffs affecting 45 employees and acceptance of departures from 12 others who took buyouts, resulting in a 15% workforce reduction and elimination of 10 vacant positions; these cuts marked the third round of significant staff reductions in five years and included program eliminations.[29][30][31] Compounding these issues, congressional action in July 2025 slashed federal funding for public media via the Corporation for Public Broadcasting, imposing an estimated $8 million loss on KQED and exacerbating deficits across NPR and PBS affiliates in California.[32][6] The cuts, part of broader Republican-led efforts to reduce CPB appropriations by over $1 billion nationally, heightened vulnerabilities for stations reliant on such grants, with experts noting risks to local programming and operations.[6][33]Programming and Content
Format and Schedule
KQED-FM operates as a public radio station with a news and talk format, emphasizing local, national, and international news coverage, public affairs discussions, and cultural programming. Since August 12, 1987, it has focused on an all-news and information service, shifting from earlier eclectic content to a structured schedule of syndicated NPR shows, BBC World Service segments, and locally produced programs like Forum and The California Report.[21][10] The weekday schedule follows a consistent structure in Pacific Time, beginning with the BBC World Service from midnight to 2:00 a.m., followed by NPR's Morning Edition until 9:00 a.m., which includes local inserts such as The California Report at 5:51 a.m., 6:51 a.m., and 8:51 a.m., and Marketplace Morning Report at 4:51 a.m. and 7:51 a.m. Forum, a live call-in discussion on current issues, airs from 9:00 a.m. to 10:00 a.m., with rebroadcasts in the evening. Midday features Here & Now from 11:00 a.m. to 1:00 p.m. and NPR's All Things Considered in segments from 1:00 p.m. to 2:00 p.m. and 4:30 p.m. to 6:30 p.m., bookended by The World at 2:00 p.m. to 3:00 p.m., an audio edition of PBS NewsHour from 3:00 p.m. to 4:00 p.m., and Marketplace from 4:00 p.m. to 4:30 p.m. Evenings include Fresh Air from 7:00 p.m. to 8:00 p.m. and Climate One from 10:00 p.m. to 11:00 p.m., with additional rebroadcasts and news updates.[11] Weekend schedules deviate to include more specialized content, such as repeats of weekday discussions, extended NPR programming like Wait Wait... Don't Tell Me!, and occasional music or arts-focused segments, though maintaining a core emphasis on news and analysis. Local news briefs, such as KQED News updates, occur hourly or at set intervals across the day, ensuring continuous information flow. The format supports HD Radio broadcasting, allowing multicasting of additional channels, but the primary analog signal prioritizes the news/talk lineup.[11][34]| Time Slot (PT) | Weekday Program Example | Notes |
|---|---|---|
| 12:00 a.m. – 2:00 a.m. | BBC World Service | International news |
| 2:00 a.m. – 9:00 a.m. | Morning Edition (NPR) | With local California Report inserts |
| 9:00 a.m. – 10:00 a.m. | Forum | Local live discussions |
| 1:00 p.m. – 6:30 p.m. | All Things Considered (NPR) | Segmented with global news |
| 7:00 p.m. – 8:00 p.m. | Fresh Air (NPR) | Interviews and culture |
Syndicated and National Programming
KQED-FM serves as a primary affiliate for National Public Radio (NPR), broadcasting key syndicated news and information programs that form the backbone of its daily schedule.[10] Among these, Morning Edition, produced by NPR, airs weekdays from approximately 4:00 a.m. to 9:00 a.m. Pacific Time, delivering national and international news, analysis, weather updates, and human-interest features hosted by rotating anchors including A Martínez and Leila Fadel.[11] This program reaches millions through NPR's distribution network, with KQED-FM integrating local inserts such as traffic reports during its broadcast.[11] Afternoon drive time features NPR's All Things Considered, aired in segments from 1:00 p.m. to 2:00 p.m. and 4:30 p.m. to 6:30 p.m. weekdays, hosted by Ari Shapiro, Juana Summers, and Scott Detrow as of 2025, focusing on investigative reporting, interviews, and cultural segments.[11] Midday slots include WBUR's Here & Now, syndicated via NPR from 11:00 a.m. to 1:00 p.m., which covers current events with live expert discussions.[11] Evenings highlight NPR's Fresh Air from WHYY, airing at 7:00 p.m., featuring in-depth interviews by Terry Gross on topics ranging from politics to arts.[11] Additional national content includes American Public Media's Marketplace business reports embedded in morning and evening blocks.[11] International programming is provided through the BBC World Service, broadcast overnight from 12:00 a.m. to 2:00 a.m. and select evening hours, offering global news bulletins in English.[11] Other syndicated shows like NPR's 1A, a forum for national debates, air late nights from 11:00 p.m. to 12:00 a.m. weekdays, and PRI's The World covers international affairs from 2:00 p.m. to 3:00 p.m.[10] These programs, distributed via satellite and digital feeds, account for a significant portion of KQED-FM's non-local content, ensuring listeners access verified reporting from established public media producers.[11]Locally Produced Shows
KQED Public Radio maintains a roster of in-house produced programs emphasizing Bay Area perspectives, investigative reporting, and interactive formats, complementing its NPR affiliations. These shows, originating from studios in San Francisco, include daily news digests, call-in discussions, and narrative series that address regional concerns such as housing, politics, and culture. As of 2023, KQED produces six regular programs in its San Francisco facilities, alongside co-productions featuring local content.[35] Forum, a flagship live call-in program, airs weekdays from 9:00 a.m. to 11:00 a.m. and 10:00 p.m. to 11:00 p.m., hosted by Alexis Madrigal, who convenes diverse Bay Area voices for in-depth interviews on local, state, national, and global issues.[36][10] The show, which debuted in its current form to foster public discourse, incorporates listener calls and expert analysis, airing on 88.5 FM and streaming platforms.[11] The California Report delivers daily statewide news coverage, focusing on California-specific trends, policies, and events, with reporting tailored to Northern California listeners.[11] Its weekend extension, The California Report Magazine, airs Fridays at 4:30 p.m.–5:00 p.m., 6:30 p.m.–7:00 p.m., and 11:00 p.m.–11:30 p.m., offering extended storytelling on unique regional people and places through a road-trip lens.[10] Other notable local productions include Political Breakdown, hosted by Scott Shafer and Marisa Lagos, which airs Thursdays from 6:30 p.m. to 7:00 p.m. and dissects intersections of California and national politics via guest experts.[10] Perspectives, a long-running series of daily listener-submitted commentaries, has aired since 1991, providing concise personal reflections on current events.[10] Snap Judgment, co-produced with PRX and hosted by Glynn Washington, premiered in July 2010 and airs Saturdays from 1:00 p.m. to 2:00 p.m. and 9:00 p.m. to 10:00 p.m., blending real-life stories with musical elements for cinematic effect.[10][37] These programs underscore KQED's commitment to originating content that captures San Francisco's civic and cultural pulse, often extended as podcasts for broader reach.[38]Technical Specifications
Primary Frequency and Coverage
KQED-FM operates on the primary frequency of 88.5 MHz in the FM band, licensed to San Francisco, California.[39][40] The station transmits with an effective radiated power (ERP) of 110,000 watts from an antenna height above average terrain (HAAT) of 387 meters, enabling robust signal propagation across urban and suburban terrains.[41] The primary coverage area encompasses the San Francisco Bay Area, including all nine counties (Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano, and Sonoma), with reception extending into adjacent regions depending on terrain, atmospheric conditions, and receiver quality.[1] Signal strength is strongest within a 50-60 mile radius of the transmitter site, though multipath interference in hilly areas like San Francisco can affect reception in localized pockets.[42] As of 2025, enhancements such as FM boosters in the East Bay have supplemented the primary signal to mitigate coverage gaps without altering the core 88.5 MHz transmission.[43]Additional Frequencies and Translators
KQED-FM's programming is simulcast on the full-power station KQEI-FM at 89.3 MHz, which serves the Sacramento metropolitan area and extends the network's reach beyond the primary San Francisco Bay Area coverage.[40][11] To fill gaps in signal propagation, particularly in peripheral regions, KQED operates low-power FM translators that rebroadcast the main 88.5 MHz signal. These include:- 88.1 MHz covering Martinez and Benicia, enhancing reception in eastern Contra Costa County areas where terrain or distance may weaken the primary signal.[44]
- 88.3 MHz serving Santa Rosa, which relays the signal to Sonoma County north of the Bay Area to improve accessibility in that locale.[44]
Funding, Governance, and Operations
Revenue Sources and Financial Model
KQED Inc., the nonprofit entity operating KQED-FM, maintains a financial model centered on diversified private funding to support its public radio and multimedia operations, emphasizing independence from commercial advertising while incorporating underwriting acknowledgments. The majority of revenue stems from individual donor contributions, solicited primarily through on-air pledge drives, online memberships, major gifts, and planned giving campaigns.[45] Corporate underwriting, structured as non-advertising sponsorships that provide content acknowledgments without influencing editorial decisions, forms a key supplementary stream. Additional support includes grants from private foundations for specific projects, investment returns from endowments, and limited federal appropriations via the Corporation for Public Broadcasting (CPB), which totaled about 7-8% of annual revenue in recent years.[45] This model aligns with broader public media practices, prioritizing community-driven sustainability over market-driven revenues, though it exposes the organization to fluctuations in donor sentiment and economic conditions.[46] For the fiscal year ended September 30, 2024, KQED reported total revenues of $100.6 million, reflecting a recovery from prior years amid ongoing investments in digital expansion and content production.[46] The breakdown highlights the dominance of direct public support:| Revenue Source | Amount (in thousands) | Percentage of Total |
|---|---|---|
| Individual Member Contributions | $55,021 | 54.7% |
| Underwriting | $13,068 | 13.0% |
| General and Project Grants | $9,834 | 9.8% |
| CPB Community Service Grants | $7,623 | 7.6% |
| Investment Income from Endowments | $6,347 | 6.3% |
| Other (including nonfinancial assets and trade) | $8,745 | 8.7% |
