Telecommunications Development Fund
- Assets
- $119.7m
- Revenue
- -$3.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 10/1998
- Data as of
- 12/2023
- 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Bodman Director | Trustee | 0 | $50,000 |
Brian Bailey Director | Trustee | 0 | $47,500 |
Marvin Bush Director | Trustee | 0 | $42,500 |
Michael Meece Director | Trustee | 0 | $40,000 |
Brooke Coburn Director | Trustee | 0 | $40,000 |
James Pastoriza CEO | Officer | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Twenty-first Century Group Consulting | 12/30/23 | $0 |
Pricewaterhousecoopers Llp Consulting | 12/30/23 | $0 |
View All Vendors
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 | $121,470 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,369,234 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$3,231,930 |
| 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. | $220,000 |
| Compensation of current officers, directors, key employees. | $220,000 |
| 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 | $637,507 |
| Fees for services: Legal | $25,294 |
| Fees for services: Accounting | $32,891 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $56,548 |
| Fees for services: Other | $113,545 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $14,508 |
| 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 | $15,360 |
| All other expenses | $0 |
| Total functional expenses | $1,167,315 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $127,765 |
| 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 | $202,118 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,356,976 |
| Investments—other securities | $0 |
| Investments—program-related | $116,513,877 |
| Intangible assets | $0 |
| Other assets | $499,068 |
| Total assets | $119,699,804 |
| Accounts payable and accrued expenses | $100,210 |
| 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 | $100,210 |
| Net assets without donor restrictions | $119,599,594 |
| 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 | $119,699,804 |