MID-ATLANTIC BROADBAND COMMUNITIES CORPORATION Charity Report

Public IRS 990 nonprofit record

MID-ATLANTIC BROADBAND COMMUNITIES CORPORATION

EIN 27-0076588 · Rural Economic Development (S32)

What they do

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.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $68.00 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders24 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

61.91%of revenue went to mission work68.0% of expenses · Program services

$91.10spent for every $100 of revenueRevenue covered expenses this year.

29.19%of revenue went to management and office costs32.0% of expenses

$8.21in assets for every $1 spent this yearSome assets cannot be spent right away.

12.5%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $549,298 for THOMAS DERISO (PRESIDENT &). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$24,498,772

Mission workProgram services$15,167,62561.91% of revenue68.0% of expenses

ManagementOffice and general costs$7,150,19029.19% of revenue32.0% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$2,180,9578.90% of revenueShown in gray on the chart

Total expenses$22,317,81591.10% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 68.0% mission · 32.0% management · 0.0% fundraisingTotal expenses: 91.10% of revenue

2023Expense mix: 71.8% mission · 28.2% management · 0.0% fundraisingTotal expenses: 104.79% of revenue

2022Expense mix: 73.5% mission · 26.5% management · 0.0% fundraisingTotal expenses: 103.19% of revenue

2021Expense mix: 69.4% mission · 30.6% management · 0.0% fundraisingTotal expenses: 106.25% of revenue

2020Expense mix: 72.7% mission · 27.3% management · 0.0% fundraisingTotal expenses: 100.50% of revenue

2019Expense mix: 73.1% mission · 26.9% management · 0.0% fundraisingTotal expenses: 112.27% of revenue

2018Expense mix: 69.9% mission · 30.1% management · 0.0% fundraisingTotal expenses: 120.86% of revenue

2017Expense mix: 72.5% mission · 27.5% management · 0.0% fundraisingTotal expenses: 113.35% of revenue

Money in and money out

Revenue$24,498,772

Expenses$22,317,815

Annual surplus $2,180,957 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$15,167,625 · 68.0% of expenses

Management and office costs$7,150,190 · 32.0% of expenses

See all reported dollar amounts

Revenue$24,498,772

Expenses$22,317,815

Assets$183,253,177

Income$24,565,188

Contributions$3,055,661

Mission work (program services)$15,167,625

Grants given$2,552,894

Average grant$29,010

Management and general$7,150,190

Accounting fees$52,450

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

THOMAS DERISOPRESIDENT & · 40 hrs/week $549,298Base $493,801 · Other $55,497

DAVID KELLERKEY EMPLOYEE · 40 hrs/week $348,563Base $312,898 · Other $35,665

MARK PETTYKEY EMPLOYEE · 40 hrs/week $335,299Base $282,763 · Other $52,536

PHILLIP LLOYDSECRETARY/TR · 40 hrs/week $208,171Base $175,900 · Other $32,271

CHASE WEDDLEKEY EMPLOYEE · 40 hrs/week $196,982Base $159,846 · Other $37,136

SARAH MILLERHIGHEST CMP · 40 hrs/week $186,927Base $149,256 · Other $37,671

PATRICIA CONNERKEY EMPLOYEE · 40 hrs/week $186,880Base $172,895 · Other $13,985

BEN BURCHETTEKEY EMPLOYEE · 40 hrs/week $185,318Base $161,902 · Other $23,416

TIMOTHY AGEEHIGHEST CMP · 40 hrs/week $151,837Base $112,276 · Other $39,561

LAUREN MATHENAHIGHEST CMP · 40 hrs/week $134,947Base $107,170 · Other $27,777

CHRISTOPHER FEWOXHIGHEST CMP · 40 hrs/week $125,193Base $113,419 · Other $11,774

CHRISTOPHER COLEMANHIGHEST CMP · 40 hrs/week $114,440Base $104,031 · Other $10,409

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (24)

THOMAS DERISOPRESIDENT &

DAVID KELLERKEY EMPLOYEE

MARK PETTYKEY EMPLOYEE

PHILLIP LLOYDSECRETARY/TR

CHASE WEDDLEKEY EMPLOYEE

SARAH MILLERHIGHEST CMP

PATRICIA CONNERKEY EMPLOYEE

BEN BURCHETTEKEY EMPLOYEE

TIMOTHY AGEEHIGHEST CMP

LAUREN MATHENAHIGHEST CMP

CHRISTOPHER FEWOXHIGHEST CMP

CHRISTOPHER COLEMANHIGHEST CMP

ERNEST R LAILDIRECTOR, CH

EDWARD HODGESDIRECTOR, VI

BOB PICCHIDIRECTOR

BRYAN DAVIDDIRECTOR

DUANE DAHLQUISTDIRECTOR

CHARLES MAJORSDIRECTOR

MARK D HEATHDIRECTOR

TELLY TUCKERDIRECTOR

DAVID HUDGINSDIRECTOR

EARVING L BLYTHEDIRECTOR

RICHARD SHUMAKERDIRECTOR

MAURICE FERRELLDIRECTOR

About this charity

Recognized since: January 2013
Location: 715 WILBORN AVE, SOUTH BOSTON, VA 24592-3123
County: Halifax
In care of: % PHILLIP D LLOYD
Primary officer: PHILLIP LLOYD, SECRETARY/TREASURER

How to reach them

WebsiteVisit the charity’s website Emailnoc@mbc-va.com Phone(434) 973-8314

Filing and classification

Latest tax year: 2024
Tax period began: July 1, 2024
Return type: 990
Tax preparer: ROBINSON FARMER COX ASSOCIATES
NTEE classification: Rural Economic Development (S32)
IRS tax category: Rural Economic Development
Grant-giving organization: Yes