This annual report for the Corporation for Public Broadcasting (CPB) for fiscal year 1986 also summarizes the CPB's activities over the last 20 years. The front inside cover folds out to three pages and provides a chronology of the important events in CPB history from its inception in 1967 to 1987. A narrative report on the CPB's 20 years of operation highlights its beginnings, milestones, programming, and audiences; the broadcasting system; and funding. Comments in support of public television by a wide variety of public figures concludes this portion of the report. The 1986 annual report provides information on television programming, radio programming, community outreach, adult learning, program support activities, and system support activities for that fiscal year. The CPB Board of Directors and officers are also listed, and a financial accounting by the firm of Peat, Marwick, Mitchell & Co. is provided. The text is supplemented by a number of graphs, figures, and photographs. (EW)