Non-profit

California Emerging Technology Fund

Website:

www.cetfund.org/

Location:

Concord, CA

Tax ID:

20-5184429

Tax-Exempt Status:

501(c)(3)

Budget (2021):

Revenue: $253,401
Expenses: $7,893,942
Assets: $44,150,511

Founded:

2005

President:

Sunne Wright McPeak

President's Salary (2021):

$375,500

The California Emerging Technology Fund is a nonprofit organization working to increase access to high-speed internet for users in California with the goal of adopting high-speed internet in at least 80 percent of homes in the state. 1

History

Following the merger of Southwestern Bell Corp. into AT&T and MCI into Verizon, California Emerging Technology Fund was created in 2005 pursuant to orders from the California Public Utilities Commission (CPUC) that conditionally approved the merger. Both companies were ordered to contribute a total of $60 million over five years to support increased access to high-speed internet in California. Verizon contributed $3 million per year, AT&T contributed $9 million per year, and at least $5 million of the contributions were to be used for telemedicine projects. 2

Activities

California Emerging Technology Fund claims to manage more than $149 million in programs. 3 Projects in which CEFT is involved include encouraging community organizations with a history of adopting high-speed internet in low-income households to apply for an Access Broadband Connect (ABC) Grant in partnership with Charter Communications 4 and working with the city of San Jose to manage a grantmaking program aimed at bringing universal connectivity speeds to 50,000 households. 5

Finances

From 2017 through 2022, California Emerging Technology Fund claims that its source of funds included $2.3 million in legacy earnings from seed capital, over $30 million from a Charter Communications Memorandum of Understanding (MOU) and a T-Mobile MOU, as well as $1.3 million from grants and other revenue. 6

In 2021, the organization reported awarding more than $2 million in contributions and grants, including a $380,000 grant to the California State University Fresno Foundation, a $250,000 grant to the Southern California Association of Governments, and $150,00 to Valley Vision, 7 a Sacramento organization focusing on high-speed internet access, environmentalism, and civic leadership. 8

In 2020, CETF reported awarding just over $888,000 in grants, including $25,000 to California Forward, a left-of-center think tank. 9 In 2019, CETF awarded various grants to “support programs that increase broadband adoption,” including $100,000 to the United Way of Greater Los Angeles, $70,000 to the Foundation for the Los Angeles Community Colleges, and $425,000 to the World Institute on Disability, 10 an organization promoting accessible products for people with disabilities. 11

Leadership

The president of California Emerging Technology Fund is Sunne Wright McPeak. McPeak was the Secretary of the California Business, Transportation and Housing Agency from 2003 to 2006 and, previously, was the president and CEO of the Bay Area Council. 12

Barbara O’Connor is the chair of the CETF board of directors. She is a professor emerita of California State University and a former member of the AARP national board of directors. The vice chair, Renee Martinez, is the president emeritus of Los Angeles City College. Other board members include Jeff Campbell, an executive at Cisco Systems, Inc.; Martha Escutia, a former California state senator; Lenny Mendonca, former advisor for Governor Gavin Newsom (D); Rich Motta, retired vice president of AT&T; and Jim Kirkland, senior vice president of Trimble, Inc. 13

References

  1. “Strategic Action Plans.” California Emerging Technology Fund, September 23, 2020. https://www.cetfund.org/about-us/strategic-action-plans/.
  2. “Mission and History.” California Emerging Technology Fund, September 22, 2020. https://www.cetfund.org/about-us/mission-and-history/.
  3. “California Emerging Technology Fund PROGRESS REPORT IN CLOSING THE DIGITAL DIVIDE 2023.” California Emerging Technology Fund. Page 2. Accessed July 30, 2023. https://s42263.pcdn.co/wp-content/uploads/2023/01/CETF-PROGRESS-REPORT-2023.pdf.
  4. “Connect People with Disabilities.” California Emerging Technology Fund, September 24, 2020. https://www.cetfund.org/resources-and-reports/grant-opportunities/connect-people-with-disabilities/.
  5. “San José Digital Inclusion Partnership Grants.” California Emerging Technology Fund, November 18, 2021. https://www.cetfund.org/resources-and-reports/grant-opportunities/san-jose-digital-inclusion-partnership/.
  6. “California Emerging Technology Fund PROGRESS REPORT IN CLOSING THE DIGITAL DIVIDE 2023.” California Emerging Technology Fund. Page 61. Accessed July 30, 2023. https://s42263.pcdn.co/wp-content/uploads/2023/01/CETF-PROGRESS-REPORT-2023.pdf
  7.  California Emerging Technology Fund, Return of Organization Exempt from Income Tax (Form 990) 2021. https://pdf.guidestar.org/PDF_Images/2022/205/184/2022-205184429-202213189349319401-9.pdf?_gl=1*5bf7cf*_ga*MzU1MjM5MzE5LjE2OTA5MjYzMjQ.*_ga_5W8PXYYGBX*MTY5MDkzMTk3MC4zLjEuMTY5MDkzMTk3NS41NS4wLjA.
  8. “How We’re Making a Difference.” Valley Vision, April 8, 2020. https://www.valleyvision.org/impact-area/.
  9. California Emerging Technology Fund, Return of Organization Exempt from Income Tax (Form 990) 2020. https://pdf.guidestar.org/PDF_Images/2021/205/184/2021-205184429-202123199349327222-9.pdf?_gl=1*1dw67j3*_ga*MzU1MjM5MzE5LjE2OTA5MjYzMjQ.*_ga_5W8PXYYGBX*MTY5MDkzMTk3MC4zLjEuMTY5MDkzMzYxMC40MS4wLjA.
  10. California Emerging Technology Fund, Return of Organization Exempt from Income Tax (Form 990) 2019. https://apps.irs.gov/pub/epostcard/cor/205184429_202006_990_2021040217858978.pdf
  11. “About.” World Institute on Disability, January 18, 2023. https://wid.org/about/.
  12. “Sunne Wright McPeak” California Emerging Technology Fund, March 12, 2021. https://www.cetfund.org/staff/sunne-wright-mcpeak-2/.
  13. “California Emerging Technology Fund PROGRESS REPORT IN CLOSING THE DIGITAL DIVIDE 2023.” California Emerging Technology Fund. Page 56. Accessed July 30, 2023. https://s42263.pcdn.co/wp-content/uploads/2023/01/CETF-PROGRESS-REPORT-2023.pdf.
  See an error? Let us know!

Nonprofit Information

  • Accounting Period: June - May
  • Tax Exemption Received: April 1, 2007

  • Available Filings

    Period Form Type Total revenue Total functional expenses Total assets (EOY) Total liabilities (EOY) Unrelated business income? Total contributions Program service revenue Investment income Comp. of current officers, directors, etc. Form 990
    2021 Jun Form 990 $253,401 $7,893,942 $44,150,511 $3,642,275 N $250,346 $0 $3,055 $1,240,285
    2020 Jun Form 990 $35,210,093 $8,233,358 $50,477,526 $2,328,749 N $35,200,000 $1,266 $8,827 $872,040 PDF
    2019 Jun Form 990 $69,936 $6,543,479 $22,916,250 $1,744,208 N $60,000 $866 $9,070 $944,040 PDF
    2018 Jun Form 990 $56,425 $6,399,794 $28,885,258 $1,239,673 N $50,000 $528 $6,254 $985,915
    2017 Jun Form 990 $32,768,095 $5,479,552 $34,747,833 $758,879 N $32,640,000 $8,632 $119,463 $1,048,850 PDF
    2016 Jun Form 990 $446,847 $4,167,849 $8,277,671 $1,501,066 N $50,000 $20,127 $376,720 $893,120 PDF
    2015 Jun Form 990 $532,483 $4,201,373 $14,352,548 $3,563,603 N $0 $0 $532,483 $546,321 PDF
    2014 Jun Form 990 $408,305 $7,225,815 $20,320,024 $5,425,453 N $2,500 $28,175 $657,578 $817,835 PDF
    2013 Jun Form 990 $2,173,038 $9,157,656 $26,160,556 $4,162,683 N $1,623,594 $0 $530,723 $773,048 PDF
    2012 Jun Form 990 $5,290,923 $6,195,926 $31,835,078 $2,372,263 N $4,571,074 $0 $719,849 $0 PDF

    Additional Filings (PDFs)

    California Emerging Technology Fund

    2151 SALVIO STREET SUITE 252
    Concord, CA 94520-2451