NPR financial statement 2019, finance snd CPA fags help with interpretation please. I want a petition the WH to defund NPR
Organization and Principles of Consolidation (Continued)
Foundation (Continued)—Furthermore, certain provisions of the Foundation’s Bylaws may only be amended or repealed by an affirmative vote of NPR Inc., provided such action is authorized, in advance, by a two-thirds vote cast at a meeting, duly called, and at which a quorum was present, of the NPR Inc. Board.
NPR Asset Holding Company, Inc. (NPRAHC Inc.)—Incorporated in 2018, NPRAHC Inc. is a wholly owned, taxable corporation, which holds interests in commercial entities on behalf of NPR Inc.
NPRAHC Inc. is governed by a three member Board of Directors which is currently composed of senior staff members from NPR Inc.
National Public Media LLC (NPM)—Formed in 2007, NPM secures public broadcasting and digital sponsorship for public radio and television entities, and other like-minded entities, including NPR Inc. and certain of NPR’s members.
NPM is governed by NPRAHC Inc., WGBH Educational Foundation (WGBH), and Public Broadcasting Service (PBS). Each member elects a manager and the three managers collectively comprise the NPM Board of Managers (NPM Board). Member capital percentages are 72%, 18% and 10%, for NPRAHC Inc., WGBH, and PBS, respectively as of September 30, 2019 and 2018.
NPRAHC Inc. controls NPM’s Board due to its majority ownership. WGBH and PBS hold equal positions on the NPM Board. Depending upon the specific nature of a decision, WGBH and PBS have certain veto rights (e.g., to purchase, lease or sell any property, to borrow or lend money, to change material policy relating to the timing and structure of the distribution of cash, and the determination of employment or certain key executives) as more fully described in the limited liability company formation agreement, as amended
All intercompany balances and transactions were eliminated in consolidation. Unless otherwise noted, NPR Inc. and the above consolidated organizations are hereinafter colle
https://www.npr.org/documents/about/statements/fy2019/NPR_Consolidated_Financial_Statements_2019.pdf