To help maintain our essential service to the Bay Area, KQED applied for and received a CARES Act Payment Protection Program (PPP) loan. Like so many other businesses, nonprofits and media organizations across the country, KQED has taken a significant financial hit due to the COVID-19 crisis. We have experienced deep cuts to our corporate sponsorship and underwriting revenue and are preparing for decreases in membership due to economic instability, both of which we expect will continue into next year. To address that gap, we cut discretionary spending, delayed new hires and reduced compensation for the executive team. Additionally, we were fortunate to secure emergency PPP funds. This loan enables KQED to cover eight weeks of payroll, utilities and rent. Without it, we would face imminent layoffs and reductions in programming and services. It ensures that we continue to provide the same quality of trusted coverage and critical information at this moment when our service is needed more than ever.

Our primary source of funding has always been and will always be the support we receive from individuals committed to our public service mission. Without their generosity, we simply couldn’t respond to this crisis with the type of reporting, educational resources and programs on radio, television and digital platforms that communities are relying on in this challenging time.