Overview
What is California Emerging Technology Fund?
California Emerging Technology Fund (CETF) is a nonprofit organization based in Concord, California, dedicated to minimizing the digital divide by accelerating the deployment and adoption of broadband and advanced communication services in underserved communities. Since its inception, CETF has awarded over $50 million in grants to community organizations and public agencies, supporting initiatives such as establishing the California Telehealth Network and launching School2Home, a program that bridges the digital divide and achievement gap in low-performing middle schools in low-income communities. CETF has also trained nearly a million individuals in digital literacy and assisted approximately 500,000 households in gaining affordable home internet service. Through partnerships with internet service providers like Frontier Communications and Charter Communications, CETF has implemented public benefits and managed charitable funds to boost broadband adoption in low-income households. As of 2019, CETF has entered into an MOU with T-Mobile, receiving funding to continue its core mission and expand digital inclusion programs. With a team of 15 employees, CETF works tirelessly to make California a global leader in broadband technology availability and use.
Official website here: www.cetfund.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 98% (Four-Star out of Four Stars)
The California Emerging Technology Fund has achieved a notable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. With a perfect score in financial oversight, the organization demonstrates high standards in governance, including a fully independent board and efficient financial management practices. The organization is proactive in maintaining transparency, as evidenced by its comprehensive policies on conflicts of interest and whistleblower protections.
In addition to financial integrity, the fund excels in community engagement, receiving high marks for constituent feedback collection and usage. It shows a commitment to understanding and addressing the needs of those it serves, which is crucial for any nonprofit's success. The organization’s program expense ratio is impressive at 94.01%, indicating that a significant portion of its funding is directed towards its programs rather than administrative costs.
However, while the fund has a strong equity strategies score of 81, this suggests room for improvement in ensuring equitable practices across its operations. Overall, the California Emerging Technology Fund is positioned as a reliable and effective nonprofit, focusing on transparency, accountability, and community engagement.
This AI summary has been generated from information found on Charity Navigator.
Is California Emerging Technology Fund legitimate?
California Emerging Technology Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. California Emerging Technology Fund submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,583,371
Professional Fundraising Fees: $0
Other Salaries and Wages: $552,707
For more financial information, click here
Official website here: www.cetfund.org
What is the mission statement of California Emerging Technology Fund?
The California Emerging Technology Fund serves as a leader in minimizing the digital divide by accelerating the deployment and adoption of broadband and advanced communication services in underserved and underprivileged communities. Their primary mission is to ensure that California maintains a global lead in the availability and utilization of broadband technology. Since its inception, the fund has granted over $50 million to community non-profit organizations and public agencies, contributing to initiatives like the California Telehealth Network and School2Home, which aims to close both the digital divide and the achievement gap in low-performance middle schools in low-income communities. Furthermore, they have trained nearly one million individuals in digital literacy and assisted approximately half a million households in accessing affordable home internet service. The fund has also entered into partnerships with internet service providers like Frontier Communications and Charter Communications to implement public benefit obligations, supporting broadband adoption in low-income households.
Official website here: www.cetfund.org
Who is the CEO of California Emerging Technology Fund?
Rich Motta is the Chair of California Emerging Technology Fund. The CEO's salary of California Emerging Technology Fund is $547,400 and their total compensation is $606,764.
Official website here: www.cetfund.org
What is the revenue of California Emerging Technology Fund?
California Emerging Technology Fund's revenue in 2023 was $3,574,011.
Official website here: www.cetfund.org
Who are the executives of California Emerging Technology Fund and what are their salaries?
The average compensation at California Emerging Technology Fund during 2023 was $142,405. There are 15 employees at California Emerging Technology Fund.
Here are 18 key members and their salaries (California Emerging Technology Fund's CEO's salary is $547,400 and their total compensation is $606,764):
- Compensation: $7,000
- Related: $0
- Other: $0
- Compensation: $36,500
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $5,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $10,750
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $9,250
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $4,250
- Related: $0
- Other: $0
- Compensation: $547,400
- Related: $0
- Other: $59,364
- Compensation: $190,360
- Related: $0
- Other: $35,442
- Compensation: $174,960
- Related: $0
- Other: $37,172
- Compensation: $150,500
- Related: $0
- Other: $42,252
Official website here: www.cetfund.org
Where can I find the form 990 for California Emerging Technology Fund?
California Emerging Technology Fund's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.cetfund.org
Learn more at the official website: www.cetfund.org
Mission Statement of California Emerging Technology Fund
California Emerging Technology Fund (CETF) plays a significant role in minimizing the digital divide across the state. Its mission is to provide leadership nationwide by accelerating the deployment and adoption of broadband and advanced communication services in underserved and unserved communities. By doing so, CETF aims to ensure that California maintains its position as a global leader in the availability and utilization of broadband technology.
CETF has been instrumental in achieving this mission since its inception. It has awarded over $50 million in grants to community non-profit organizations and public agencies, including providing seed capital to establish the California Telehealth Network. Furthermore, CETF developed and leads School2Home, a program that closes both the digital divide and the achievement gap in low-performing middle schools in low-income communities. CETF, in partnership with grantees, has trained nearly one million individuals in digital literacy and assisted approximately half a million households in connecting to affordable home internet service.
CETF has also entered into memorandums of understanding (MOUs) with internet service providers (ISPs) such as Frontier Communications, Inc. and Charter Communications, Inc. These agreements have resulted in the implementation of public benefits as a result of corporate consolidations, with CETF managing charitable funds from Frontier to achieve new broadband adoptions by low-income households in their service areas. In 2019, CETF entered into an MOU with T-Mobile, which became effective in April 2020, receiving $35 million from T-Mobile to continue its core mission and support digital inclusion programs in their statewide service area.
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Impact
October, 2024
The California Emerging Technology Fund (CETF) has made a significant impact on bridging the digital divide in California by facilitating the deployment and adoption of broadband and advanced communication services in underserved communities. With over $50 million awarded in grants since its inception, CETF has empowered community organizations and public agencies, directly contributing to initiatives such as the California Telehealth Network and the School2Home program.
Through these efforts, CETF has trained nearly 1 million individuals in digital literacy and has helped approximately 500,000 households access affordable home internet services. By forming partnerships with major Internet Service Providers like Frontier Communications, Charter Communications, and T-Mobile, CETF ensures that public benefit obligations are met and that low-income households gain vital connectivity. The organization is actively involved in enhancing digital inclusion, thereby promoting educational attainment and community improvement in low-income areas throughout the state. In essence, CETF plays a crucial role in making California a leader in broadband availability and usage.
This information is meant to be a general summary of California Emerging Technology Fund. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $241,957
- Program Service Revenue: $1,961,379
- Gross Receipts: $3,574,011
Assets and Liabilities:
- Total Assets: $27,147,491
- Total Liabilities: $893,130
- Net Assets: $26,254,361
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PUBLIC PARTNERSHIP PROGRAM REVENU
Revenue
$1,961,379
Organization Details
Founding Year
2006
Phone
(415) 744-2383Principal Officer
Rich Motta
Main Address
PO BOX 5897, CONCORD, CA, 94524
Website
www.cetfund.orgNTEE Category
Code: S19 - Community improvement
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