Central Texas Angel Network
- Assets
- $277.5k
- Revenue
- $211.3k
- Investments
- $0.0
- Employees
- 3
- Location
- Austin, TX
- Founding
- 07/2014
- Data as of
- 12/2023
- EIN
- 30-0358356
Organization Overview
Central Texas Angel Network is located in Austin, TX. The organization was established in 2014. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Central Texas Angel Network employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Central Texas Angel Network 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, Central Texas Angel Network generated $211.3k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.1%) each year. All expenses for the organization totaled $249.1k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.1%) per year over the past 9 years. 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
TO PROMOTE AND STIMULATE THE COMMON BUSINESS INTERESTS OF ITS MEMBERS AND THE CENTRAL TEXAS REGION. THIS PURPOSE IS ACCOMPLISHED BY ASSISTING EARLY-STAGE COMPANIES IN THEIR EFFORTS TO START, FUND, AND GROW NEW BUSINESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOSTED MORE THAN 25 EVENTS AND MEETINGS ALL FOCUSED ON HELPING ACCREDITED INVESTORS AND ENTREPRENEURS BUILD SUCCESSFUL EARLY-STAGE COMPANIES PARTICIPATED IN SEVERAL COMMUNITY EDUCATION PANELS, MENTORING SESSIONS, AND OTHER SPEAKING ENGAGEMENTS IN WHICH WE TAUGHT ENTREPRENEURS ABOUT SEEKING CAPITAL AND WORKING WITH ANGEL INVESTORS.
LED 4 INVESTOR EDUCATION EVENTS, INTRODUCING NEW MEMBERS TO INVESTING PRINCIPLES AND TEACHING MEMBER TOPICS RELEVANT TO EARLY-STAGE INVESTING.
INCREASED OUR OUTREACH TO SUPPORT OUR BUSINESS COMMUNITY WORK THROUGH NEW AND EXPANDED COMMUNITY PARTNERSHIPS WITH ENTREPRENEUR SUPPORT ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laurie Cercone Board Chair Jan - Sept | OfficerTrustee | 5 | $0 |
Gary Forni Board Chair Sept - Dec | OfficerTrustee | 5 | $0 |
Tom Miesner Treasurer Jan - Dec | OfficerTrustee | 5 | $0 |
Jake Hampton Secretary Sept - Dec | OfficerTrustee | 5 | $0 |
Joseph Lui Director Jan - Sept | Trustee | 5 | $0 |
Dave Gino Director Sept - Dec | Trustee | 5 | $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 | $23,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $23,000 |
| Total Program Service Revenue | $185,786 |
| Investment income | $2,516 |
| 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 | $211,329 |
| 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. | $119,724 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $26,875 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $104 |
| Payroll taxes | $8,543 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,957 |
| Fees for services: Accounting | $1,281 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,823 |
| Advertising and promotion | $1,505 |
| Office expenses | $12,950 |
| Information technology | $9,974 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $207 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $51,254 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $916 |
| All other expenses | $0 |
| Total functional expenses | $249,113 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,978 |
| Savings and temporary cash investments | $232,281 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,248 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $277,507 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $277,507 |
| 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 | $277,507 |