Resolutions

RESOLUTION
BOARD OF DIRECTORS
CORPORATION FOR PUBLIC BROADCASTING
WASHINGTON, D.C.
APRIL 15, 2021

unanimously

WHEREAS,
The American Rescue Plan Act 2021 provides $175 million of stabilization funds to CPB to distribute to public media stations threatened by declines in non-Federal revenues resulting from the economic impacts of the coronavirus; and

WHEREAS,
    Congress directed that these funds, which are not subject to CPB’s statutory funding formula, be used to maintain programming and services, and to preserve the ability of small and rural public media stations to continue to provide essential information, educational content and services to the American people; and 

WHEREAS,
In consultation with the public media system and in accordance with the American Rescue Plan Act, CPB management has developed a plan for the effective and expeditious distribution of these funds to public media stations in this period of extraordinary economic hardship; and 

WHEREAS,
    The Board of Directors has reviewed CPB’s recommendations for the allocation of these funds as outlined in the proposed plan attached to this resolution,

NOW, THEREFORE, BE IT RESOLVED,
    The Board of Directors authorizes CPB management to proceed with implementation of the proposed distribution plan for the American Rescue Plan Act 2021 stabilization funds for public media stations as outlined in the attached.

Of the $175 million, $100 million would be calculated using the CARES Act formula that was developed in April 2020 to distribute stabilization grants that prioritized funding to small, rural and/or minority stations. The remaining $75 million would be calculated according to the respective television and radio Community Service Grant (CSG) formulas, which also considers stations’ service to rural communities, as well as the number of transmitters needed to cover large geographic areas, and the amount raised in non-federal financial support (NFFS). 

Of the $100 million that would be used to calculate the first part of the awards, $50 million each would be allocated to the television and radio pools. Of the remaining $75 million, $37.5 million each would be allocated to the radio and television pools. The two calculations are then added together for a total grant award.

A.    The Distribution Formulas

(1)    Television Formula (CARES Act Formula + CSG Formula = Total Grant Award)

CARES Act Formula 
This portion would be calculated using the formula CPB created to distribute Stabilization Grants funded with CARES Act funds in 2020. Under the American Rescue Act, the available pool of funds ($50 million) would be 33 percent larger than the CARES Act television pool and, accordingly, each award increased by 33 percent. 

•    Each of 158 grantees receives $266,667, including grantees that are in CPB-designated multi-provider markets. Of these, 98 receive an additional amount of $80,272 for a total award of $346,939. These grantees are small[1] and/or rural[2] and one is a Minority Audience Service Station[3].

Community Service Grant Formula (CSG)
Based on the formula CPB uses to calculate television CSG awards, the pool of $37.5 million would be distributed in proportion to the fiscal year (FY) 2021 television CSG awards that CPB made to each grantee. For example, if a station received an FY 2021 television CSG award that was 0.2 percent of the total television CSGs awarded, its “Rescue Act” award would be 0.2 percent of the available $37.5 million.  

(2)    Radio Formula (CARES Act Formula + CSG Formula = Total Grant Award)

CARES Act Formula
This portion would be calculated using the formula CPB created to distribute Stabilization Grants funded with CARES Act funds in 2020. Under the American Rescue Act, the available pool of funds ($50 million) would be 33 percent larger than the CARES Act radio pool and, accordingly, each award would be increased by 33 percent.

•    Each of 395 grantees would receive $100,000. 
•    Of these, 207 small[4], rural[5], and/or minority[6] grantees would receive an additional amount of $49,515 for a total award of $149,515. 

Community Service Grant Formula (CSG)
Based on the formula CPB uses to calculate radio CSG awards, the pool of $37.5 million would be distributed in proportion to the fiscal year (FY) 2021 radio CSG awards that CPB made to each grantee. For example, if a station received an FY 2021 radio CSG award that was 0.2 percent of the total radio CSGs awarded, its “Rescue Act” award would be 0.2 percent of the available $37.5 million.  
 

[1]Small television CSG grantees have a total direct revenue of ≤ $5 million.

[2]Rural television CSG grantees have a coverage area population that is greater than 19 percent rural (U.S. Census national rural average is 19 percent.)

[3]A Minority Audience Service Station is licensed to a designated Historically Black College or University or to a Native American Tribe or related entity. See Part IV, definition V, 2021 television CSG General Provisions and Eligibility Criteria.

[4]Small radio grantees have total direct revenue ≤ $500,000.

[5]Rural radio grantees have a coverage area population density of ≤ 40 people per square kilometer.

[6]Small, rural and minority grantees have total direct revenue ≤ $5 million. A Minority Audience Service Station provides significant service to a minority group through diverse programming and is licensed to a designated Historically Black College or University or to a Native American Tribe or related entity. See Part II, definition HH, 2021 radio CSG General Provisions and Eligibility Criteria.

RESOLUTION
PUBLIC SESSION
BOARD OF DIRECTORS
CORPORATION FOR PUBLIC BROADCASTING
WASHINGTON, D.C.
Tuesday, March 2, 2021

unanimously

RESOLVED,

The Board of Directors adopts the attached CPB Investment Policy.