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Nonprofiteer
← CALIFORNIA EMERGING TECHNOLOGY FUND

Form 990 for tax year 2022

Filed by CALIFORNIA EMERGING TECHNOLOGY FUND.

Totals

Total revenue
$3,574,011
Total expenses
$9,491,888
Contributions and grants received
$1,363,002
Grants paid
$1,218,540
Program service revenue
$1,961,379
Investment income
$241,957
Other revenue
$7,673
Total assets, end of year
$27,147,491
Total liabilities, end of year
$893,130
Net assets or fund balances, end of year
$26,254,361
Program services expenses (Part IX)
$8,880,284
Management and general expenses
$611,604
Fundraising expenses
$0
Program service expenses (Part III)
$8,880,284

Program services were 93.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $123,002

  • 1f · All other contributions, gifts and grants

    $1,240,000

  • 2a · Program service revenue: PUBLIC PARTNERSHIP PROGRAM REVENU

    total $1,961,379 · excluded $1,961,379

  • 3 · Investment income

    total $241,957 · excluded $241,957

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $7,673 · excluded $7,673

  • 11e · Other revenue, total

    $7,673

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,218,540 · program services $1,218,540

  • 5 · Compensation of officers, directors and key employees

    total $1,583,371 · program services $1,345,866 · management and general $237,505

  • 7 · Other salaries and wages

    total $552,707 · program services $469,801 · management and general $82,906

  • 8 · Pension plan contributions

    total $148,545 · program services $126,263 · management and general $22,282

  • 9 · Other employee benefits

    total $110,592 · program services $94,003 · management and general $16,589

  • 10 · Payroll taxes

    total $127,468 · program services $108,348 · management and general $19,120

  • 13 · Office expenses

    total $12,236 · program services $12,236

  • 14 · Information technology

    total $43,618 · program services $37,075 · management and general $6,543

  • 16 · Occupancy

    total $55,547 · program services $47,215 · management and general $8,332

  • 17 · Travel

    total $44,912 · program services $44,912

  • 19 · Conferences, conventions and meetings

    total $26,979 · management and general $26,979

  • 22 · Depreciation, depletion and amortization

    total $5,755 · program services $4,892 · management and general $863

  • 23 · Insurance

    total $47,731 · program services $40,571 · management and general $7,160

  • 24a · Other expenses: SCHOOL 2 HOME

    total $1,727,422 · program services $1,727,422

  • 24b · Other expenses: PROGRAMS - RIVERSIDE CO

    total $799,114 · program services $799,114

  • 24c · Other expenses: PUBLIC PARTNERSHIP EXPE

    total $756,671 · program services $756,671

  • 24d · Other expenses: CONSULTANTS AND OUTSIDE

    total $708,503 · program services $708,503

  • 24e · All other expenses

    total $1,522,177 · program services $1,338,852 · management and general $183,325

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,550,233 · end of year $11,463,335

  • 2 · Savings and temporary cash investments

    beginning of year $16,520,822 · end of year $7,167,059

  • 3 · Pledges and grants receivable

    beginning of year $14,134,406 · end of year $8,419,361

  • 9 · Prepaid expenses and deferred charges

    beginning of year $64,394 · end of year $70,341

  • 10a · Land, buildings and equipment: cost or other basis

    $129,956

  • 10b · Land, buildings and equipment: accumulated depreciation

    $120,704

  • 10c · Land, buildings and equipment, net

    beginning of year $12,173 · end of year $9,252

  • 14 · Intangible assets

    end of year $18,143

  • 17 · Accounts payable and accrued expenses

    beginning of year $105,098 · end of year $116,258

  • 18 · Grants payable

    beginning of year $1,468,316 · end of year $430,000

  • 25 · Other liabilities

    beginning of year $1,536,376 · end of year $346,872

  • 27 · Net assets without donor restrictions

    beginning of year $29,860,857 · end of year $26,246,497

  • 28 · Net assets with donor restrictions

    beginning of year $2,311,381 · end of year $7,864

Mission and programs · 2022

Mission

PROVIDE LEADERSHIP STATEWIDE TO CLOSE THE DIGITAL DIVIDE BY ACCELERATING THE DEPLOYMENT AND ADOPTION OF BROADBAND AND OTHER ADVANCED COMMUNICATION SERVICES TO UNSERVED AND UNDERSERVED COMMUNITIES.

Activities or mission (Part I)

PROVIDE LEADERSHIP STATEWIDE TO MINIMIZE THE DIGITAL DIVIDE BY ACCELERATING THE DEPLOYMENT AND ADOPTION OF BROADBAND AND OTHER ADVANCED COMMUNICATION SERVICES TO UNSERVED AND UNDERSERVED COMMUNITIES.ENSURE THAT CALIFORNIA IS A GLOBAL LEADER IN THE AVAILABILITY AND USE OF BROADBAND TECHNOLOGY.

  • SINCE INCEPTION, CETF HAS AWARDED MORE THAN $50M IN GRANTS TO COMMUNITY NON-PROFIT ORGANIZATIONS AND PUBLIC AGENCIES, INCLUDING PROVIDING THE SEED CAPITAL TO ESTABLISH THE CALIFORNIA TELEHEALTH NETWORK. CETF ALSO DEVELOPED AND LEADS SCHOOL2HOME WHICH CLOSES BOTH THE DIGITAL DIVIDE AND ACHIEVEMENT GAP IN LOW-PERFORMING MIDDLE SCHOOLS IN LOW-INCOME COMMUNITIES. CETF IN PARTNERSHIP WITH GRANTEES HAS TRAINED ALMOST 1M INDIVIDUALS IN DIGITAL LITERACY AND ASSISTED APPROXIMATELY 500,000 HOUSEHOLDS GET CONNECTED TO AFFORDABLE HOME INTERNET SERVICE.CETF ENTERED INTO MEMORANDA OF UNDERSTANDING (MOU) WITH INTERNET SERVICE PROVIDERS (ISPS) FRONTIER COMMUNICATIONS, INC. (2015) AND CHARTER COMMUNICATIONS, INC. (2016) TO IMPLEMENT PUBLIC BENEFITS AS A RESULT OF CORPORATE CONSOLIDATIONS. IN ADDITION TO SUPPORTING AND MONITORING FULFILLMENT OF THE MOU PUBLIC BENEFIT OBLIGATIONS BY THESE ISPS, CETF MANAGED CHARITABLE FUNDS FROM FRONTIER TO ACHIEVE NEW BROADBAND ADOPTIONS BY LOW-INCOME HOUSEHOLDS IN THEIR SERVICE AREAS. CETF ALSO IS RECEIVING $32.5 MILLION ($6.5 MILLION PER YEAR) FROM CHARTER THROUGH 2021 TO CONTINUE CORE MISSION ORGANIZATIONAL OPERATIONS AND SUPPORT SCHOOL2HOME AND OTHER DIGITAL INCLUSION PROGRAMS IN THEIR SERVICE AREAS. IN 2019 CETF ENTERED INTO A MOU WITH T-MOBILE IN CONJUNCTION WITH THEIR ACQUISITION OF SPRINT WHICH BECAME EFFECTIVE IN APRIL 2020 WHEN THE TRANSACTION WAS APPROVED BY THE CPUC. CETF IS RECEIVING $35 MILLION FROM T-MOBILE ($7 MILLION PER YEAR) THROUGH 2024 FOR CORE MISSION AND TO IMPLEMENT SCHOOL2HOME AND DIGITAL INCLUSION PROGRAMS IN THEIR STATEWIDE SERVICE AREA.

    Expenses $6,981,112 · Grants $1,094,688

  • PROGRAM MANAGEMENT SERVICES:CETF WAS ENGAGED BY THE CITY OF SAN JOSE THROUGH ACTION BY THE CITY COUNCIL IN FEBRUARY 2019 TO MANAGE APPROXIMATELY $8 MILLION OVER 10 YEARS FOR DIGITAL INCLUSION GRANTS TO NON-PROFIT COMMUNITY-BASED ORGANIZATIONS AND PUBLIC AGENCIES. CETF AGREED DURING FY 22-23 TO CONCLUDE THE SAN JOSE DIGITAL INCLUSION PARTNERSHIP AS OF SEPTEMBER 30, 2023. CETF ALSO SERVES AS FISCAL AGENT FOR LOS ANGELES HOME FOR THE AGING IN MANAGING A GRANT FROM THE FEDERAL COMMUNICATIONS COMMISSION. THE GRANT PROVIDES FUNDING FOR ACTIVITIES AUTHORIZED BY THE COVID-19 TELEHEALTH PROGRAM. THIS FCC TELEHEALTH GRANT WAS COMPLETE DURING FY 22-23.

    Expenses $343,387 · Grants $123,852

  • THE CETF BOARD OF DIRECTORS HAS ADOPTED A 3-YEAR STRATEGIC PLAN FOR FY22-23 THROUGH FY24-25 WHICH EMPHASIZES 3 OVERALL GOALS: UBIQUITOUS DEPLOYMENT; UNIVERSAL ADOPTION; AND DEEP INSTITUTIONALIZATION. THE INCORPORATION OF DIGITAL INCLUSION PRACTICES INTO ALL PUBLIC AGENCIES AND MAJOR ORGANIZATIONS SERVING LOW-INCOME HOUSEHOLDS AND OTHER DISADVANTAGED POPULATIONS IS REFERRED TO AS "INSTITUTIONALIZATION" SO THAT DIGITAL EQUITY IS "ROOTED" INTO ORGANIZATIONAL CULTURE. TO FULFILL THIS GOAL, CETF IS PURSUING PARTNERSHIPS WITH PUBLIC AGENCIES AS A PREFERRED HIGH-PERFORMING VENDOR. IN FY22-23, CETF WAS ENGAGED BY THE COUNTY OF RIVERSIDE, COUNTY OF LOS ANGELES, AND CALIFORNIA DEPARTMENT OF TECHNOLOGY.

    Expenses $1,555,785 · Revenue $1,961,379

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Barbara O'Connor

    CHAIR

    Total calculated
    $7,000
    From this org
    $7,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Richard Motta

    TREASURER

    Total calculated
    $36,500
    From this org
    $36,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Jeff Campbell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Martha Escutia

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Barb Johnston Yellowlees

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jim Kirkland

    DIRECTOR

    Total calculated
    $5,000
    From this org
    $5,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Darrell Stewart

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Tim McCallion

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Renee Martinez

    VICE CHAIR

    Total calculated
    $10,750
    From this org
    $10,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Dorian Traube

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Francis Gipson

    DIRECTOR

    Total calculated
    $9,250
    From this org
    $9,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Shireen Santosham

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Lenny Mendonca

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Carlos Ramos

    DIRECTOR

    Total calculated
    $4,250
    From this org
    $4,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Sunne Wright McPeak

    PRESIDENT AND CEO

    Total calculated
    $606,764
    From this org
    $547,400
    From related orgs
    $0
    Other
    $59,364
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $347,400
    Bonus
    $200,000
    Other
    $0
    Deferred
    $37,700
    Nontaxable benefits
    $21,664
    Filer's total
    $606,764

  • Agustin Urgiles

    SCHOOL2HOME EXECUTIVE MANA

    Total calculated
    $225,802
    From this org
    $190,360
    From related orgs
    $0
    Other
    $35,442
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $161,760
    Bonus
    $28,600
    Other
    $0
    Deferred
    $22,673
    Nontaxable benefits
    $12,769
    Filer's total
    $225,802

  • Raquel Cinat

    ASSOCIATE VICE PRESIDENT

    Total calculated
    $212,132
    From this org
    $174,960
    From related orgs
    $0
    Other
    $37,172
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,800
    Bonus
    $26,160
    Other
    $0
    Deferred
    $20,856
    Nontaxable benefits
    $16,316
    Filer's total
    $212,132

  • Alana O'Brien

    VICE PRESIDENT OPERATIONS

    Total calculated
    $192,752
    From this org
    $150,500
    From related orgs
    $0
    Other
    $42,252
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,800
    Bonus
    $25,700
    Other
    $0
    Deferred
    $17,508
    Nontaxable benefits
    $24,744
    Filer's total
    $192,752

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • AGIF EDUCATION FOUNDATION OF SANTA MARIA

    $321,960

    TO SUPPORT PROGRAMS THAT INCREASE BROADBAND AWARENESS AND ADOPTION

  • NEXTGEN CLIMATE AMERICA INC

    $250,000

    TO SUPPORT PROGRAMS THAT INCREASE BROADBAND AWARENESS AND ADOPTION

  • CALIFORNIA STATE ASSOCIATION OF COUNTIES

    $250,000

    TO SUPPORT PROGRAMS THAT INCREASE BROADBAND AWARENESS AND ADOPTION

  • LOS ANGELES COUNTY OFFICE OF EDUCATION

    $100,000

    TO SUPPORT PROGRAMS THAT INCREASE BROADBAND AWARENESS AND ADOPTION

  • COUNTY OF SONOMA

    $100,000

    TO SUPPORT PROGRAMS THAT INCREASE BROADBAND AWARENESS AND ADOPTION

  • SAN DIEGO ASSOCIATION OF GOVERNMENTS

    $50,000

    TO SUPPORT PROGRAMS THAT INCREASE BROADBAND AWARENESS AND ADOPTION

  • SOUTHERN CALIFORNIA ASSOCIATION OF GOVERNMENTS

    $50,000

    TO SUPPORT PROGRAMS THAT INCREASE BROADBAND AWARENESS AND ADOPTION

  • INSURE THE UNINSURED PROJECT

    $25,000

    TO SUPPORT PROGRAMS THAT INCREASE BROADBAND AWARENESS AND ADOPTION

  • CSU FRESNO FOUNDATION

    $19,260

    TO SUPPORT PROGRAMS THAT INCREASE BROADBAND AWARENESS AND ADOPTION

  • SIGMA BETA XI

    $18,360

    TO SUPPORT PROGRAMS THAT INCREASE BROADBAND AWARENESS AND ADOPTION

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2022
Filed
8 November 2023
IRS schema version
2022v5.0
Source object
202333159349301713

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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