C-Net
- Assets
- $660.9k
- Revenue
- $470.0k
- Investments
- $0.0
- Employees
- 8
- Location
- State College, PA
- Founding
- 11/1988
- Data as of
- 12/2023
- EIN
- 25-1578296
Organization Overview
C-Net is located in State College, PA. The organization was established in 1988. According to its NTEE Classification (A30) the organization is classified as: Media & Communications, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, C-Net employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. C-Net is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, C-Net generated $470.0k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $445.3k during the year ending 12/2023. While expenses have increased by 2.0% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
C-NET'S MISSION IS TO INFORM THE PUBLIC ON SUBJECTS USEFUL AND BENEFICIAL TO THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
C-NET IS CENTRE COUNTY'S GOVERNMENT AND EDUCATION ACCESS NETWORK. IT ADMINISTERS TWO CHANNELS, CGTV (CHANNEL 7) AND CETV (CHANNEL 98), ALONG WITH THE WEBSITE CNET1.ORG. OUR PROGRAMMING RANGES FROM PUBLIC MEETINGS TO HIGH SCHOOL AND PSU SPORTS TO LOCAL FESTIVALS AND CELEBRATIONS. A C-NET MEMBER AGENCY MUST SPONSOR EACH PROGRAM THAT AIRS ON THE CHANNELS. THERE ARE CURRENTLY 16 MEMBERS: BELLEFONTE AREA SCHOOL DISTRICT, BELLEFONTE BOROUGH, CENTRE COUNTY GOVERNMENT, CENTRE REGION COUNCIL OF GOVERNMENTS, COLLEGE TOWNSHIP, FERGUSON TOWNSHIP, HALFMOON TOWNSHIP, HARRIS TOWNSHIP, PARRON TOWNSHIP, PENN STATE UNIVERSITY, SCHLOW CENTRE REGION LIBRARY, STATE COLLEGE AREA SCHOOL DISTRICT, STATE COLLEGE BOROUGH, THE CENTRE REGION PARKS AND RECREATION AUTHORITY, STATE COLLEGE BOROUGH WATER AUTHORITY, AND THE UNIVERSITY AREA JOINT AUTHORITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alex Verseput Director | Trustee | 3 | $0 |
Chris Rosenblum Director | Trustee | 3 | $0 |
Dave Gustine Secretary | OfficerTrustee | 3 | $0 |
Don Holderman Vice President | OfficerTrustee | 3 | $0 |
Ed Fitzgerald Director | Trustee | 3 | $0 |
Eric Norenberg Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $27,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $27,500 |
| Total Program Service Revenue | $429,995 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $12,540 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $470,035 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $87,733 |
| Compensation of current officers, directors, key employees. | $52,640 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $180,095 |
| Pension plan accruals and contributions | $16,368 |
| Other employee benefits | $18,758 |
| Payroll taxes | $19,688 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,097 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,493 |
| Advertising and promotion | $0 |
| Office expenses | $1,942 |
| Information technology | $4,760 |
| Royalties | $0 |
| Occupancy | $4,213 |
| Travel | $2,230 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,450 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $32,846 |
| Insurance | $13,192 |
| All other expenses | $6,477 |
| Total functional expenses | $445,346 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $389,758 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $85,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,508 |
| Net Land, buildings, and equipment | $180,674 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $660,940 |
| Accounts payable and accrued expenses | $20,446 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $158,400 |
| Total liabilities | $178,846 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $482,094 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $660,940 |