Cenic California Middle Mile Broadband Initiative LLC

Analysis

Cenic California Middle Mile Broadband Initiative LLC is a registered charity in United States, based in San Francisco, CA. It received its IRS tax-exemption ruling in October 2022, 4 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Cenic California Middle Mile Broadband Initiative LLC reported income of $14.3m and spending of $13.8m, spending 97% of its income. Across the 2 years on record, from June 2022 to June 2023, income grew from $10.3m to $14.3m (+39%), an average of +39% a year. The sharpest change came in the year to June 2023, when income rose by 39%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cenic California Middle Mile Broadband Initiative LLC sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within CA. Charities of a similar size with the same main cause include Luther Park Health Center Inc ($14.3m), St Anns Nursing Home Company Inc ($14.3m) and Northern Valley Catholic Social Service Inc ($14.3m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $626k (4.5% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $8.6m against liabilities of $6.7m, net assets of $1.9m. It reported 6 employees.