WTMD receives funding from our listeners, corporate sponsors, Towson University, the Corporation for Public Broadcasting and other foundations and grant making organizations. Members of the public are encouraged to contact the General Manager to review these reports, have them explained and to provide time for members of the public to ask questions about our finances. As owners of WTMD, Towson University provides all occupancy and leaseholder costs to the station while Towson University Public Media, Inc. manages the day-to-day fundraising and operational expenses of the station under a management agreement and USM policy on affiliated foundations.
Each year, WTMD is audited by Stoy Malone, a Certified Public Accounting firm. This audit tests our financial systems and provides reports to the Corporation for Public Broadcasting on which our annual Community Service Grant is calculated. Our fiscal year ends on June 30th and latest audit is generally available the following January. Copies of our audits:
Full Year 2014 *TUPM began operations in June of 2014 and separate audit for that month was created. The full year 2014 audit includes all twelve months combining TUPM’s operations and WTMD’s financials handled by the Towson University Foundation.
WTMD has no employees whose compensation meet the IRS 990 definition of significant compensation.