Chicago Public Media (CPM)

Chicago Public Media (CPM) is a left-of-center media nonprofit that operates the WBEZ FM radio station, a National Public Radio affiliate, in the Chicago area. In 2022 it acquired the Chicago Sun-Times and became the largest nonprofit news organization in the U.S. 1

At-A-Glance

Formation:

1990

CEO:

Matt Moog

Location: Chicago, IL View on map
Tax ID: 36-3687394
Most Recent Filing: 2025
Budget (2025): Assets: $123,120,928 Revenue: $35,621,838 Expenses: $27,099,771

Contents

    The organization has a strong emphasis on diversity, equity, and inclusion (DEI), and states that such concerns are at the heart of its news reporting and human resources practices, going so far as to report the racial breakdown of its staff. 1 2 3

    Founding and History

    Chicago Public Media originated in 1943 with the establishment of the WBEZ FM radio station as part of the Chicago Board of Education. In 1970, it became a charter member of the National Public Radio. 2 In 1990, the Chicago Board of Education sold the station to the newly established non-profit WBEZ Alliance Inc., which would later change its name to Chicago Public Media. 4 2

    In 2022, CPM acquired the Chicago Sun-Times and became the largest non-profit news organization in the U.S. 1

    Financials

    In the fiscal year ending June 30, 2023, Chicago Public Media reported $38,697,858 in revenue, of which $30,954,140 was derived from contributions and grants, $2,223,748 from program service revenue, and $5,283,557 from investment income. CPM had $29,952,071 in expenses, of which $17,825,335 was allocated to salaries and benefits, and $6,657,362 to fundraising expenses. It ended the year with a surplus of $8,745,787 and net assets of $67,074,464. 5

    The MacArthur Foundation has been a major funder of Chicago Public Media since 1982 when WBEZ was owned by the Chicago Board of Education. Since its first grant in 1982, the foundation has awarded $5,797,500 to CPM. 6

    Organization Philosophy

    Chicago Public Media has a left-of-center perspective and fully embraces the race-centered intersectional approach of diversity, equity, and inclusion (DEI). CPM states that it seeks to hire racially diverse staff. To that end, it employs a DEI manager and publishes a breakdown of the races of its employees. Additionally, CPM maintains “The Sounding Board,” as a community group that reviews programming and decisions from a DEI perspective. 3

    The Chicago Sun-Times, a subsidiary of CPM, is rated as being left leaning by the AllSides media bias rating system. 7

    Leadership

    Matt Moog is the chief executive officer of Chicago Public Media, a position he has held since 2020. He was previously on the board of directors for 11 years before becoming CEO. Moog founded several tech companies and emphasizes that he has built DEI-compliant workplaces. 8

    Since June 2022, Jennifer Kho is the executive editor of the Chicago Sun-Times, which CPM acquired in 2022. She previously worked as the managing editor of HuffPost and the U.S. managing editor of The Guardian. 9 Kho’s hiring is listed as among the “results” of CPM’s DEI policy. She states that DEI is essential to the newspaper’s mission and that, among other policies, led to the deindexing of past crime stories under a new “right to be forgotten” principle. 3

    Financial Statistics

    Total Assets

    Total Revenue

    Total Expenses

    YearTotal AssetsTotal RevenueTotal ExpensesFiling
    2025 $123,120,928 $35,621,838 $27,099,771 View
    2024 $115,918,688 $33,752,486 $30,095,463 View
    2023 $105,531,134 $38,697,858 $29,952,071 View
    2022 $91,335,229 $32,290,439 $28,483,479 View
    2021 $93,763,608 $37,246,182 $27,245,996 View

    Prior year filings: 2020, 2019, 2018, 2017, 2016, 2015, 2014, 2013, 2012, 2011

    Revenue Detail

    Expenses Detail

    Employee Compensation

    • Number of Employees: 180

    Highest Earning Employees

    EmployeeTitleTotal Compensation
    Matthew MoogCEO – THRU 09/2024$904,910
    Rina DedhiaCFO$402,877
    Tracy BrownCHIEF PARTNERSHIPS OFFICER$367,728
    Cynthia Photos AbbottCHIEF LEGAL OFFICER$349,975
    Lori MalatestaCHIEF PEOPLE OFFICER$323,322
    Stephen WrightVP OF TECHNOLOGY AND OPERATIONS$256,640
    Gilbert BailonEXECUTIVE EDITOR$236,817
    Lucy KimCHIEF ADVANCEMENT OFFICER$228,084
    Debra ChamraSVP, FINANCE AND ACCOUNTING$225,296
    Melissa BellCEO – BEG. 09/2024$184,922
    Kate VerrantASSISTANT GENERAL COUNSEL$180,357
    Heidi GoldfeinVP OF PROGRAMMING$170,888
    Frank SharpeDIRECTOR OF PRODUCT ENGINEERING$156,602

    Grant Activity

    All-time grants received statistics from Candid dataset:

    • Total Grant Value: $81,061,507
    • Number of Grants: 2,874
    • Number of Funders: 541

    Selection of highest value grants received from the last seven years:

    AmountYearFunderSubject
    $5,204,1002023 The Chicago Community TrustGeneral Operating Support, $5,000: support for WBEZ's Annual Fund; $5,000: support for the Sound Impact Campaign, Unrestricted, support for WBEZ 91.5 in Chicago, General Operating Support – Leadership Circle (no tickets or tangible benefits), support for WBEZ – Leadership Circle (no tickets or tangible benefits), to support the transition of the Chicago Sun-Times into the Chicago Public Media's umbrella of local journalism, support for Public Broadcasting, General Operating Support for WBEZ Chicago, support for CPM Gala (no tickets or tangible benefits) and annual unrestricted support
    $2,365,1502022 The Chicago Community TrustGeneral operating support for WBEZ and Vocalo's journalism and public engagement programs.
    $2,210,2332024 The Chicago Community TrustGeneral support for programs, operations and other charitable purposes
    $1,644,0392020 Corporation for Public BroadcastingRCSG
    $1,589,8222021 Corporation for Public BroadcastingRCSG
    $1,383,6162022 Corporation for Public BroadcastingRCSG
    $1,250,0002021 The Joyce FoundationMission Fund
    $1,000,0002024 The Joyce FoundationMISSION FUND
    $1,000,0002023 John S. and James L. Knight FoundationTO SUPPORT THE POST-ACQUISITION TRANSITION OF THE CHICAGO SUN-TIMES INTO CHICAGO PUBLIC MEDIA, IN ORDER TO SUPPORT CHICAGO MEDIA AND LEARN FROM A UNIQUE MODEL THAT COULD POTENTIALLY BE REPLICATED IN OTHER U.S. CITIES.
    $1,000,0002022 John S. and James L. Knight FoundationTO SUPPORT THE POST-ACQUISITION TRANSITION OF THE CHICAGO SUN-TIMES INTO CHICAGO PUBLIC MEDIA, IN ORDER TO SUPPORT CHICAGO MEDIA AND LEARN FROM A UNIQUE MODEL THAT COULD POTENTIALLY BE REPLICATED IN OTHER U.S. CITIES.
    $1,000,0002022 The Joyce FoundationMission Fund
    $1,000,0002022 Pritzker Traubert FoundationGeneral Operating Support
    $1,000,0002022 Pritzker Traubert FoundationGeneral Operating Support
    $865,6762022 Fidelity Investments Charitable Gift FundFor grant recipient's exempt purposes
    $772,1612021 Fidelity Investments Charitable Gift FundFor grant recipient's exempt purposes
    $740,4232021 Corporation for Public BroadcastingRFSG
    $650,0002024 The Andrew W. Mellon Foundationto support the Prisoncast! broadcast
    $500,0002024 The Lenfest Institute for Journalism Special Asset Fund of Tpf(G) = $500,000
    $500,0002024 Arie and Ida Crown MemorialGENERAL OPERATING;CAPITAL
    $500,0002022 Arie and Ida Crown MemorialGENERAL OPERATING;CAPITAL
    $500,0002022 Arie and Ida Crown MemorialGENERAL OPERATING;CAPITAL
    $457,3172020 Fidelity Investments Charitable Gift FundFor grant recipient's exempt purposes
    $425,0002022 The Joyce FoundationJournalism
    $349,0452021 Cars for Charity Inc
    $332,4802024 Donor Advised Charitable Giving, Inc.ARTS, CULTURE & HUMANITIES

    References

    1. “Chicago Public Media.” Chicago Public Media. Accessed March 25, 2024. https://www.chicagopublicmedia.org/#hero.
    2. “About Us — Get to Know Us at WBEZ Chicago.” WBEZ Chicago. Accessed March 25, 2024. https://www.wbez.org/about.
    3. “Diversity, Equity, Inclusion and Belonging.” WBEZ Chicago. Accessed March 25, 2024. https://www.wbez.org/pages/diversity-equity-inclusion-and-belonging.
    5. Chicago Public Media, Return of an organization exempt from taxation (Form 990) Part I, 2022.
    6.  “Chicago Public Media – MacArthur Foundation.” Macfund.org. Accessed March 25, 2024. https://www.macfound.org/grantee/chicago-public-media-433/.
    7. “Chicago Sun-Times Media Bias Rating.” AllSides. Accessed March 25, 2024. https://www.allsides.com/news-source/chicago-sun-times.
    8. “Matt Moog.” WBEZ Chicago. Accessed March 25, 2024. https://www.wbez.org/staff/2879/matt-moog.
    9. “Jennifer Kho.” LinkedIn.com. Accessed March 25, 2024. https://www.linkedin.com/in/jenniferkho/details/experience/.