Technology Network
- Assets
- $15.7m
- Revenue
- $13.7m
- Investments
- $0.0
- Employees
- 33
- Location
- Santa Clara, CA
- Founding
- 09/1998
- Data as of
- 12/2023
- EIN
- 77-0456865
Organization Overview
Technology Network, operating under the name Technet, is located in Santa Clara, CA. The organization was established in 1998. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Technet employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Technet is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Technet generated $13.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 13.9% each year . All expenses for the organization totaled $12.4m during the year ending 12/2023. While expenses have increased by 14.4% per year over the past 8 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
TECHNET IS THE NATIONAL, BIPARTISAN NETWORK OF TECHNOLOGY CEOS AND SENIOR (CONT. ON SCH. O) EXECUTIVES THAT PROMOTES THE GROWTH OF THE INNOVATION ECONOMY. TECHNET IS COMMITTED TO ADVANCING PUBLIC POLICIES AND PRIVATE SECTOR INITIATIVES THAT MAKE THE U.S. THE MOST INNOVATIVE NATION IN THE WORLD. TECHNET CHAMPIONS POLICIES THAT FOSTER A CLIMATE FOR INNOVATION, ALLOWING TECHNOLOGY COMPANIES TO CREATE, THRIVE, AND COMPETE. TECHNET MEMBERS WORK TOGETHER TO IDENTIFY KEY POLICY PRIORITIES AND EXECUTE SUCCESSFUL LEGISLATIVE STRATEGIES AT THE FEDERAL, STATE, AND LOCAL LEVELS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TECHNET HAS HOSTED DOZENS OF PUBLIC POLICY EVENTS FOR ITS MEMBERS. THESE EVENTS ALLOW MEMBERS TO MEET WITH POLICYMAKERS AT BOTH THE STATE AND FEDERAL LEVEL. THE PURPOSE OF THE EVENTS IS TO BUILD RELATIONSHIPS BETWEEN THE MEMBERS OF THE HIGH-TECH COMMUNITY AND POLICYMAKERS. THE DISCUSSION OF THESE IMPORTANT PUBLIC POLICY TOPICS BETWEEN THE TWO GROUPS STRENGTHEN THE INNOVATION ECONOMY AND THE HIGH-TECH COMMUNITY, WHICH TECHNET SERVES.
TECHNET HAS A SOPHISTICATED WEBSITE AND E-MAIL COMMUNICATIONS SYSTEM FOR ITS MEMBERS. TECHNET STAFF, IN CONSULTATION WITH ITS MEMBERS, IS INVOLVED IN SHAPING PUBLIC PERCEPTIONS ABOUT THE HIGH-TECH INDUSTRY AND INFLUENCING PUBLIC POLICY ON INNOVATION ECONOMY ISSUES. TECHNET DEVELOPS POLICY POSITIONS IN COLLABORATION WITH ITS MEMBERS, WHICH ARE MADE PUBLIC ON ITS WEBSITE AND COMMUNICATED TO STATE AND FEDERAL POLICYMAKERS AS PART OF A LEGISLATIVE EFFORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda L Moore President & CEO | Officer | 40 | $983,464 |
Carl K Holshouser Evp & Corporate Secretary | Officer | 40 | $518,379 |
Peter H Chandler Svp, Federal Policy & Gov Relations | Officer | 40 | $328,244 |
David S Edmonson Svp, State Policy & Gov Relations | Officer | 40 | $301,318 |
Stephen A Kidera Director, Communications | 40 | $226,289 | |
Patricia S Albertson Svp, CFO & Treasurer | Officer | 40 | $207,033 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Firehouse Strategies Llc Advocacy, Pr & Communication Services | 12/30/23 | $580,000 |
Pier 91 Media Pr & Communication Services | 12/30/23 | $535,000 |
American Future Fund Pr & Communication Services | 12/30/23 | $301,563 |
Crossroads Strategies Advocacy Services | 12/30/23 | $240,000 |
Precision Strategies Llc Pr & Communication Services | 12/30/23 | $870,000 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $13,380,742 |
| Investment income | $287,340 |
| Tax Exempt Bond Proceeds | $0 |
| 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 | $13,678,213 |
| 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. | $2,486,875 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,724,610 |
| Pension plan accruals and contributions | $164,005 |
| Other employee benefits | $267,148 |
| Payroll taxes | $294,484 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $204,900 |
| Fees for services: Accounting | $67,753 |
| Fees for services: Lobbying | $1,805,141 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $851,410 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $252,869 |
| Travel | $96,043 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $50,589 |
| Interest | $17,023 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $72,528 |
| Insurance | $9,007 |
| All other expenses | $152,353 |
| Total functional expenses | $12,430,453 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,164,278 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $44,217 |
| Accounts receivable, net | $0 |
| 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 | $127,166 |
| Net Land, buildings, and equipment | $369,653 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $965,019 |
| Total assets | $15,670,333 |
| Accounts payable and accrued expenses | $320,137 |
| Grants payable | $0 |
| Deferred revenue | $10,335,129 |
| 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 | $997,632 |
| Total liabilities | $11,652,898 |
| Net assets without donor restrictions | $4,017,435 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| 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 | $15,670,333 |