Telecommunications Development Fund

The Telecommunications act of 1996 (the act), enacted on february 8, 1996, created a body corporate to be known as the telecommuncations Development fund, TDF. The conference report which accompanied the act provided that TDF will be administered as a not for profit organization. On march 30, 1998, TDF was incorporated in the District Of Columbia as a civic organization within the meaning of section 501 (c)(4) of the internal revenue code of 1986, as amended. The purpose of the fund is: (a) to promote access to capital for small businesses in order to enhance competition in the Telecommunications industry; (b) to stimulate new technology Development, and to promote employment and training; (c) to support universal service and promote delivery of Telecommunications services to underserved rural and urban areas; and (d) to receive contributions or donations to the fund and to reinvest any repayment of, or other payment with respect to, loan, equity, or other extensions of credit made fro