Bankrupt
The source for this statement is WBAI's audits, which are performed by independent auditor Ross Wisdom. Audits from FY 2005 and before are available at pacifica.org. The FY 2006 audit is available at kpfa.org.
Here are the "net assets" - assets less liabilities - for WBAI for each of the past five years, from the audit statements:
| FY | WBAI net assets EOY |
| 2006 | $(7,333) |
| 2005 | $101,616 |
| 2004 | $222,738 |
| 2003 | $313,354 |
| 2002 | $77,345 |
For the period 10/03 to 9/06 we have fallen behind at a rate of a little over $100,000 per year. That amounts to about 3% of our annual budget. As of October 1, 2006, our liabilities exceeded our assets, making us functionally bankrupt. And it's clear that the imbalance will be worse as of October 1, 2007.