CENIC CALIFORNIA MIDDLE MILE BROADBAND INITIATIVE LLC (EIN 872397970) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2021

Legal Domicile

Principal Officer

LOUIS FOX

Phone

7142203400

Tax Period

2023-07-01 to 2024-06-30

CENIC CALIFORNIA MIDDLE MILE BROADBAND INITIATIVE LLC, founded in 2021, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $13.2M in total revenue in fiscal year 2023. Revenue decreased 8% compared to the prior year. The organization ran a surplus of $2.4M, a strong 19% operating margin.

Mission

CENIC FORMED GOLDENSTATENET TO BUILD AFFORDABLE OPEN-ACCESS BROADBAND CONNECTIONS THROUGH MIDDLE-MILE INFRASTRUCTURE ACROSS CALIFORNIA. THE MIDDLE MILE PROVIDES VITAL CONNECTIONS BETWEEN THE GLOBAL INTERNET AND LAST MILE PROVIDERS. THE EFFORT PRIORITIZES AREAS THAT HAVE NO ACCESS TO THE GLOBAL INTERNET OR SLOW AND INEFFECTIVE CONNECTIONS. THIS LEAVES MANY HOUSEHOLDS AND COMMUNITY ANCHOR INSTITUTIONS AT A SEVERE DISADVANTAGE AS THEY ARE UNABLE TO TAKE ADVANTAGE OF BROADBAND-ENABLED SERVICES SUCH AS TELEHEALTH, REMOTE WORK, AND REMOTE EDUCATIONAL ENVIRONMENTS. GOLDENSTATENET INTENDS TO WORK WITH PUBLIC AND PRIVATE SECTOR PARTNERS TO BRIDGE THIS DIGITAL DIVIDE AND TO CREATE DIGITAL EQUITY FOR ALL CALIFORNIANS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $13,157,081

Investment Income $0

Other Revenue $0

TOTAL REVENUE $13,157,081

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,763,714

Fundraising Expenses $0

Program Expenses $9,264,735

Other Expenses $5,951,464

TOTAL EXPENSES $10,715,178

Year-over-Year Comparison

	2023	2022	Change
Revenue	$13,157,081	$14,321,490	-0.1%
Expenses	$10,715,178	$13,827,390	-0.2%
Net Income	$2,441,903	$494,100	+3.9%

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

$1,439,364

Total Directors

$685,824

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ED CLARK	BOARD MEMBER	0.50	Director	$0	$0	$0
JIN CHANG	BOARD MEMBER	0.50	Director	$0	$0	$0
JOE BENGFORT	BOARD MEMBER	0.50	Director	$0	$0	$0
JOHN HETTS	BOARD MEMBER	0.50	Director	$0	$0	$0
JOSH CHISOM	BOARD MEMBER	0.50	Director	$0	$0	$0
KENDRA ARD	BOARD MEMBER	0.50	Director	$0	$0	$0
KRISTINA MATTIS	BOARD MEMBER	0.50	Director	$0	$0	$0
LARRY SMARR	BOARD MEMBER	0.50	Director	$0	$0	$0
LOUIS FOX	CEO	1.50	Officer Director	$0	$49,909	$685,824
MARLA MEEHL	BOARD MEMBER	0.50	Director	$0	$0	$0
MIDHAT ASHGAR	BOARD MEMBER	0.50	Director	$0	$0	$0
NANCY SCHRAM	BOARD MEMBER	0.50	Director	$0	$0	$0
RON JOHNSON	BOARD MEMBER	0.50	Director	$0	$0	$0
RON RAMESH	BOARD MEMBER	0.50	Director	$0	$0	$0
SAM SUDHAKAR	BOARD MEMBER	0.50	Director	$0	$0	$0
SYLVIE COSGROVE	BOARD MEMBER	0.50	Director	$0	$0	$0
TERRY LOFTUS	BOARD MEMBER	0.50	Director	$0	$0	$0
VAN WILLIAMS	BOARD MEMBER	0.50	Director	$0	$0	$0
ANTHONY NAUGHTIN	PRESIDENT & COO	40.00	Officer	$247,500	$12,375	$259,875
ERIK HUNSINGER	PRESIDENT & COO	40.00	Officer	$433,752	$59,913	$493,665
JAMES MORRIS	DIRECTOR OF PRODUCT MGMT	40.00	Highest	$225,000	$0	$225,000
JOHN MEEKS	VP OF SALES AND BUSINESS DEVELOPMENT	40.00	Highest	$433,333	$0	$433,333
KELLY EIDEN	MANAGER ,PMO	40.00	Highest	$138,524	$24,364	$162,888
MATTHEW RANTANEN	SVP TRIBAL RELATIONS	40.00	Highest	$495,000	$0	$495,000
RONALD HUTCHINS	CIO	40.00	Highest	$292,024	$0	$292,024

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	No data	No data	No data	No data
2024	$13,157,081	$10,715,178	$5,996,543	$2,441,903
2023	$14,321,490	$13,827,390	$8,571,347	$494,100
2022	$10,307,156	$8,906,404	$8,028,409	$1,400,752

CENIC CALIFORNIA MIDDLE MILE BROADBAND INITIATIVE LLC