MID-ATLANTIC BROADBAND COMMUNITIES CORPORATION (EIN 270076588) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2004

Legal Domicile

Principal Officer

THOMAS DERISO

Tax Period

2024-07-01 to 2025-06-30

MID-ATLANTIC BROADBAND COMMUNITIES CORPORATION, founded in 2004, is a mid-sized nonprofit in the Community Improvement sector that reported $13.4M in total revenue in fiscal year 2018. Expenses of $16.3M exceeded revenue, resulting in a 21% operating deficit.

Mission

THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR SOCIAL WELFARE PURPOSES WITHIN THE MEANING OF SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE, INCLUDING, BUT NOT LIMITED TO PROMOTING ECONOMIC DEVELOPMENT, LESSENING THE BURDENS OF GOVERNMENT, AND REVITALIZING ECONOMICALLY DISTRESSED RURAL AREAS BY CONSTRUCTION AND OPERATING A PUBLICLY FUNDED FIBER-OPTIC NETWORK FOR THE BENEFIT OF THE COMMUNITIES AND CITIZENS OF SOUTHERN VIRGINIA. ADDITIONALLY, THE CORPORATION IS BRIDGING THE DIGITAL DIVIDE IN RURAL AREAS WHERE COMMERCIAL PROVIDERS HAVE NOT FOUND IT TO BE ECONOMICALLY FEASIBLE TO INVEST.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $3,055,661

Program Service Revenue $20,581,288

Investment Income $573,171

Other Revenue $288,652

TOTAL REVENUE $24,498,772

Expense Breakdown

Grants Paid $551,421

Salaries & Benefits $6,204,176

Fundraising Expenses $0

Program Expenses $15,167,625

Other Expenses $15,562,218

TOTAL EXPENSES $22,317,815

Year-over-Year Comparison

	2024	2023	Change
Revenue	$24,498,772	$19,027,098	+0.3%
Expenses	$22,317,815	$19,939,323	+0.1%
Net Income	$2,180,957	$-912,225	-3.4%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$797,879

Total Directors

$156,128

Key Employees

$1,253,042

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ERNEST R LAIL	DIRECTOR, CH	1.00	Officer Director	$22,355	$0	$22,355
DAVID HUDGINS	DIRECTOR	1.00	Director	$11,575	$0	$11,575
BRYAN DAVID	DIRECTOR	1.00	Director	$15,925	$0	$15,925
EARVING L BLYTHE	DIRECTOR	1.00	Director	$10,575	$0	$10,575
DUANE DAHLQUIST	DIRECTOR	1.00	Director	$12,900	$0	$12,900
MARK D HEATH	DIRECTOR	1.00	Director	$12,600	$0	$12,600
EDWARD HODGES	DIRECTOR, VI	1.00	Officer Director	$18,055	$0	$18,055
CHARLES MAJORS	DIRECTOR	1.00	Director	$12,875	$0	$12,875
MAURICE FERRELL	DIRECTOR	1.00	Director	$0	$0	$0
TELLY TUCKER	DIRECTOR	1.00	Director	$12,125	$0	$12,125
RICHARD SHUMAKER	DIRECTOR	1.00	Director	$10,575	$0	$10,575
BOB PICCHI	DIRECTOR	1.00	Director	$16,568	$0	$16,568
THOMAS DERISO	PRESIDENT &	40.00	Officer	$493,801	$55,497	$549,298
DAVID KELLER	KEY EMPLOYEE	40.00	Key Emp	$312,898	$35,665	$348,563
MARK PETTY	KEY EMPLOYEE	40.00	Key Emp	$282,763	$52,536	$335,299
PHILLIP LLOYD	SECRETARY/TR	40.00	Officer	$175,900	$32,271	$208,171
PATRICIA CONNER	KEY EMPLOYEE	40.00	Key Emp	$172,895	$13,985	$186,880
SARAH MILLER	HIGHEST CMP	40.00	Highest	$149,256	$37,671	$186,927
BEN BURCHETTE	KEY EMPLOYEE	40.00	Key Emp	$161,902	$23,416	$185,318
CHASE WEDDLE	KEY EMPLOYEE	40.00	Key Emp	$159,846	$37,136	$196,982
CHRISTOPHER FEWOX	HIGHEST CMP	40.00	Highest	$113,419	$11,774	$125,193
CHRISTOPHER COLEMAN	HIGHEST CMP	40.00	Highest	$104,031	$10,409	$114,440
TIMOTHY AGEE	HIGHEST CMP	40.00	Highest	$112,276	$39,561	$151,837
LAUREN MATHENA	HIGHEST CMP	40.00	Highest	$107,170	$27,777	$134,947

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$24,498,772	$22,317,815	$183,253,177	$2,180,957
2024	$19,027,098	$19,939,323	$143,369,439	$-912,225
2023	$17,476,892	$18,034,342	$103,844,542	$-557,450
2022	$16,699,414	$17,743,792	$87,739,365	$-1,044,378
2021	$16,736,682	$16,820,656	$86,074,221	$-83,974
2020	$13,896,975	$15,602,705	$79,550,883	$-1,705,730
2019	$13,448,533	$16,254,397	$76,737,393	$-2,805,864

MID-ATLANTIC BROADBAND COMMUNITIES CORPORATION