EMF CEO resigns

[101tm]

EMF CEO Todd Woods Resigns; Tom Stultz To Serve As Interim CEO

Todd Woods After a little more than a year as CEO of Educational Media Foundation, Todd Woods announced his resignation

radioinsight.com

After just over a year.

 

[davideduardo]

EMF CEO Todd Woods Resigns; Tom Stultz To Serve As Interim CEO

Todd Woods After a little more than a year as CEO of Educational Media Foundation, Todd Woods announced his resignation

radioinsight.com

After just over a year.

Worth discussion: The move to Nashville. The construction of a lot of non-radio Internet facilities. A slow-down in radio station purchases, and now a major staff change.

Coincidences, or are we seeing EMF affected in contributions just like the public radio and some other religious stations are?

 

[TheBigA]

Coincidences, or are we seeing EMF affected in contributions just like the public radio and some other religious stations are?

My thoughts exactly. Reeves had the vision and Woods had to pay for it. He realized he was in way over his head.

 

[lanceventa]

Worth discussion: The move to Nashville. The construction of a lot of non-radio Internet facilities. A slow-down in radio station purchases, and now a major staff change.

Coincidences, or are we seeing EMF affected in contributions just like the public radio and some other religious stations are?

I was told that EMF had its most profitable year last year, but Woods was supposedly a little too frugal to the point where all expenditures over an already low number had to be personally approved by him. There was also the issue of his plan to fire all employees who refused to relocate to Franklin TN this summer despite having no ability to replace them and many of them in leadership roles had been working remotely for years that apparently did him in.

 

[davideduardo]

I was told that EMF had its most profitable year last year, but Woods was supposedly a little too frugal to the point where all expenditures over an already low number had to be personally approved by him. There was also the issue of his plan to fire all employees who refused to relocate to Franklin TN this summer despite having no ability to replace them and many of them in leadership roles had been working remotely for years that apparently did him in.

I heard that the cash balance increase has more to do with the slowdown in station purchases than a huge increse in donations coming in.

 

[gr8oldies]

It's not like housing is easy to find in Franklin, TN, especially if you aren't making 6 figures.

 

[Kelly A]

I heard that the cash balance increase has more to do with the slowdown in station purchases than a huge increse in donations coming in.

That's an interesting twist on the spin about 'profitability' isn't it? EMF's roll of buying up FM's has definitely slowed down this year. One has to imagine eventually they need to determine what markets are bringing in the bacon or forecasted to do so, and which just aren't worth the effort.
I heard the same thing; that Woods became universally disliked by everyone he dealt with. Probably a carryover from his days as a VP at Nissan, which had a very similar management culture that was finally purged a couple of years ago.

 

[tbolt909]

That's an interesting twist on the spin about 'profitability' isn't it? EMF's roll of buying up FM's has definitely slowed down this year. One has to imagine eventually they need to determine what markets are bringing in the bacon or forecasted to do so, and which just aren't worth the effort.
I heard the same thing; that Woods became universally disliked by everyone he dealt with. Probably a carryover from his days as a VP at Nissan, which had a very similar management culture that was finally purged a couple of years ago.

Profitability? I thought this organization is Not For Profit.
The business model doesn't work if listener donations aren't sufficient to fund all their projects. You can't buy more stations without money or Divine Intervention...

 

[Kelly A]

Profitability? I thought this organization is Not For Profit.
The business model doesn't work if listener donations aren't sufficient to fund all their projects. You can't buy more stations without money...

You'll note that I put the word 'profitability' in partial quotes because Lance made the comment upstream that last year was a banner year for income, or I assume cash reserves, at EMF. I didn't intend to state that EMF was operating outside of its charter as a non-profit, but income is income and cash on hand is still liquidity whether a for-profit or non.

 

[crainbebo]

It's ironic, given that Air 1 is begging for money and giving out donated $3000 gift cards and gas cards. Last night the DJ kept talking about how they need "one hero" to give $1,000 in the next stopset. Maybe the next set of donations should be set aside for finding new management.

 

[davideduardo]

It's not like housing is easy to find in Franklin, TN, especially if you aren't making 6 figures.

it's sure easier than in any urban area of California.

 

[Kelly A]

It's ironic, given that Air 1 is begging for money and giving out donated $3000 gift cards and gas cards. Last night the DJ kept talking about how they need "one hero" to give $1,000 in the next stopset. Maybe the next set of donations should be set aside for finding new management.

The link above said they're already working on a search.

 

[davideduardo]

Profitability? I thought this organization is Not For Profit.

Yet, as Kelly clarified, any excess of income over expenses is truly a "profit". In the case of for-profit organizations, it can be kept in reserve, used for acquisitions, or distributed to shareholders as dividends. In the case of a non-profit, it can be used under certain conditions for reserves or for expanded operations / acquisitions.

For example, were there any, a non-profit hospital that has excess money at the end of its fiscal year can use that to build a new wing, buy new high-cost equipment, as incentive for staff recruitment or they can reserve some for future needs or emergencies.

The business model doesn't work if listener donations aren't sufficient to fund all their projects. You can't buy more stations without money or Divine Intervention...

Obviously. However, if in one year they "overspend" to take advantage of opportunities, they can likely get a loan while donations increase due to those acquisitions to repay the loan. The main difference between a non-profit (charity, etc.) and a for-profit is that there are no shareholders who participate in the distribution of any excess revenue after expenses are paid.

My mother spent 60 years in the administration of non-profit health care organizations and from when I was about 7 she'd explain to me what was in the stacks of paper she brought home from her Board of Directors meetings. Often I'd sort papers, put them in folders and the like for her and I got a good handle on finance from her and my dad who was also in charge of a non-profit as a CEO (It worked: I built my own major market radio station at age 18 and it was immediately profitable!).

 

[lanceventa]

I heard that the cash balance increase has more to do with the slowdown in station purchases than a huge increse in donations coming in.

They apparently just came off their biggest pledge drive ever.

Profitability? I thought this organization is Not For Profit.
The business model doesn't work if listener donations aren't sufficient to fund all their projects. You can't buy more stations without money or Divine Intervention...

May I direct you to this article I wrote in 2017 (and revised in 2018)? It explains why an organization such as EMF needs to keep growing. That's why they made their failed movie studio and publishing aquisition which is why they were going to move to Tennessee in the first place.

EMF: Don’t Hate The Player, Hate The Game

I originally wrote this last September after the purchase of KSWD Los Angeles, but after today's purchase of 97.9 WLUP

radioinsight.com

 

[davideduardo]

They apparently just came off their biggest pledge drive ever.

And, not being argumentative, that would account for the large superávit of funds... lower immediate past station purchase expenditures and greater fundraising results.

The question I have is how fund raising tracks as a number based on people covered by all signals vs. revenue from donations. Do they maintain a comparable revenue-to-population ratio, or does it increase or decrease.

May I direct you to this article I wrote in 2017 (and revised in 2018)? It explains why an organization such as EMF needs to keep growing. That's why they made their failed movie studio and publishing aquisition which is why they were going to move to Tennessee in the first place.

I can't believe that the studio and publishing initiative was the only reason. Life for conservative Christians in California is nowhere near as positive and pleasant as it would appear to be in Tennessee or almost anywhere else.

Beyond that issue, I'd think being nearer to the source of their music and closer to their culture group would be a positive. And the cost of living is so very much lower.

 

[tbolt909]

I can't believe that the studio and publishing initiative was the only reason. Life for conservative Christians in California is nowhere near as positive and pleasant as it would appear to be in Tennessee or almost anywhere else.

Beyond that issue, I'd think being nearer to the source of their music and closer to their culture group would be a positive. And the cost of living is so very much lower.

What evidence do you have to support the claim that life is "Unpleasant for Christians in California"? The kicker for the Kansas City Chiefs just made ignorant comments about LGBT people and suggested that "Women should not pursue careers, but rather be breeding vessels". The evidence suggests that Christians are the ones that are intolerant of other lifestyles.

EMF may not be as blatant as someone like Joel Osteen. Money is the God he worships. However, EMF is still in the making money business...

 

[davideduardo]

What evidence do you have to support the claim that life is "Unpleasant for Christians in California"?

Personal experience and that of many, many friends.

The kicker for the Kansas City Chiefs just made ignorant comments about LGBT people and suggested that "Women should not pursue careers, but rather be breeding vessels". The evidence suggests that Christians are the ones that are intolerant of other lifestyles.

That is a personal belief, and he has a right to it. And what he said is not what you put in quotation marks; he spoke of the formation of the family as a worthy career. Again, his belief and he is entitled to it.

Of course, topics like this are the fuel of conservative talk radio, so the subject will be amplified well beyond is narrow impact at the commencement and graduation ceremony at a relatively small college.

EMF may not be as blatant as someone like Joel Osteen. Money is the God he worships.

Actually, Osteen's rather odd tenets say that God favors in life those who are believers and that faith and prosperity can join under his ministry.

I watched a service and sermon of his one time, and found it to be borderline drivel with a lot of pomp and circumstance to emphasize his prosperity so that others might join his ranks.

However, EMF is still in the making money business...

No, EMF is in the "money enables our ministry" business. Same as a non-profit hospital or the Red Cross.

 

[JeremyAndrews]

I can't believe that the studio and publishing initiative was the only reason. Life for conservative Christians in California is nowhere near as positive and pleasant as it would appear to be in Tennessee or almost anywhere else.

Most of their stations to this day are still in California. From what I remember, they said being in the Nashville metro puts them in the same region as the artists and record labels that they play. Almost all of them are based in that area. A few others are still based in California. The temporary facility they are in already existed in 2018 if I remember right. It also puts them in a time zone where they don't have to be on the air doing a morning show at 3AM. That was a problem they dealt with.

 

[landtuna]

That is a personal belief, and he has a right to it. And what he said is not what you put in quotation marks; he spoke of the formation of the family as a worthy career. Again, his belief and he is entitled to it.

As soon as I listened to his speech I anticipated the adverse reaction. Although I would have used different words I didn't think he crossed the line with regard to a woman's role in life. Most women I've ever met take much greater pride in their families than in their careers (although I'm sure there are many exceptions as well).

Of course, topics like this are the fuel of conservative talk radio, so the subject will be amplified well beyond is narrow impact at the commencement and graduation ceremony at a relatively small college.

I'm still wondering why the NFL felt it had to chime in. This was a statement by a player and AFAIK he never said or implicated it represented anyone but himself. OTOH I'm wondering what the college' intent was asking someone like him to speak at a commencement - unless they were aware of what he would say or perhaps he has a relationship to the college.

No, EMF is in the "money enables our ministry" business. Same as a non-profit hospital or the Red Cross.

Some serve investors and others serve the "faithful". The means to which they do it isn't all that different.

 

[TheBigA]

It also puts them in a time zone where they don't have to be on the air doing a morning show at 3AM. That was a problem they dealt with.

They've been doing the morning show from that temporary facility since it opened.