Telecommunications Development Fund
- Assets
- $115.5m
- Revenue
- $18.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 10/1998
- Data as of
- 12/2020
- EIN
- 52-2077863
Organization Overview
Telecommunications Development Fund is located in Washington, DC. The organization was established in 1998. According to its NTEE Classification (A30) the organization is classified as: Media & Communications, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Telecommunications Development Fund is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2020, Telecommunications Development Fund generated $18.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (11.7%) each year. All expenses for the organization totaled $2.5m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
SEE ATTACHMENT 1
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE ATTACHMENT 1
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Bodman Director | Trustee | 5 | $47,671 |
Brian Bailey Director | Trustee | 5 | $40,000 |
Marvin Bush Director | Trustee | 5 | $37,500 |
Michael Meece Director | Trustee | 0 | $35,000 |
Brooke Coburn Director | Trustee | 5 | $32,500 |
James Pastoriza CEO | Officer | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pricewaterhousecoopers Llp Consulting | 12/30/20 | $34,396 |
Twenty-first Century Group Consulting | 12/30/20 | $5,150 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $172,354 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $18,178,764 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,354,243 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $192,671 |
| Compensation of current officers, directors, key employees. | $192,671 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $585,105 |
| Fees for services: Legal | $7,783 |
| Fees for services: Accounting | $34,396 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,150 |
| Fees for services: Other | $35,549 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,985 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $12,275 |
| All other expenses | $0 |
| Total functional expenses | $2,499,327 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $27,378,611 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,630 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,721,518 |
| Investments—other securities | $0 |
| Investments—program-related | $84,289,333 |
| Intangible assets | $0 |
| Other assets | $125,284 |
| Total assets | $115,521,376 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $115,521,376 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $115,521,376 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Journalism Project Inc Washington, DC | $31,017,201 | $25,103,494 |
Wireless Infrastructure Association Arlington, VA | $5,735,220 | $13,503,985 |
Computer And Communications Industry Association Washington, DC | $22,913,762 | $13,219,537 |
National Propane Gas Association Inc Washington, DC | $13,626,002 | $7,831,791 |
The Landmark Foundation Norfolk, VA | $109,541,807 | $6,787,493 |
National Center On Sexual Exploitation Inc Washington, DC | $5,068,594 | $5,085,859 |
Journalism For Change Inc Arlington, VA | $491,394 | $3,913,277 |
Mennomedia Inc Harrisonburg, VA | $1,388,799 | $3,143,696 |
Telecommunications Development Fund Washington, DC | $115,521,376 | $18,354,243 |
Local 602 Communications And Productivity Fund Capitol Heights, MD | $3,860,655 | $2,390,696 |
Power And Communication Contractors Association Churchton, MD | $1,247,958 | $1,806,728 |
International Communication Assn Washington, DC | $8,656,925 | $2,429,645 |