Civic Intelligence

Central Texas Angel Network

990 • Fiscal year 2015 • EIN 30-0358356

Jan 01, 2015 to Dec 31, 2015 • Filed on Aug 12, 2016

Organization Profilecentraltexasangelnetwork.com
PO Box 5435Austin, TX 78763

(512) 518-6054

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

59th percentile

0.02x

Higher debt load relative to assets than 59% of similar nonprofits.

2015 filings • 501(c)6 • <$500k nonprofits • Source year 2015

Liabilities / Revenue

54th percentile

0.01x

Higher debt load relative to revenue than 54% of similar nonprofits.

2015 filings • 501(c)6 • <$500k nonprofits • Source year 2015

Net Margin

14th percentile

-18%

Higher net margin than 14% of similar nonprofits.

2015 filings • 501(c)6 • <$500k nonprofits • Source year 2015

Top Officer Pay

95th percentile

$87,500

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 34.3% of source-year revenue.

2015 filings • 501(c)6 • <$500k nonprofits • Source year 2015

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Balance Sheet
Liabilities / Assets59th percentile

Assets

$85,426

No earlier filing loaded for comparison.

Net Assets

$83,576

No earlier filing loaded for comparison.

Liabilities

$1,850

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue54th percentileNet Margin14th percentile

Revenue

$254,820

No earlier filing loaded for comparison.

Expenses

$300,794

No earlier filing loaded for comparison.

Net Income

-$45,974

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400K$300K$200K$100K$0Assets 2015: $85,426Liabilities 2015: $1,850Net Assets 2015: $83,5762015Assets 2016: $106,778Liabilities 2016: $7,200Net Assets 2016: $99,5782016Assets 2017: $154,261Liabilities 2017: $36,000Net Assets 2017: $118,2612017Assets 2021: $341,117Liabilities 2021: $1,912Net Assets 2021: $339,2052021Assets 2022: $315,291Net Assets 2022: $315,2912022

Highlighted filing

2015

Assets$85,426
Liabilities$1,850
Net Assets$83,576
Open 2015 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400K$300K$200K$100K$0-$100KRevenue 2015: $254,820Expenses 2015: $300,794Net Income 2015: -$45,9742015Revenue 2016: $345,628Expenses 2016: $329,626Net Income 2016: $16,0022016Revenue 2017: $344,152Expenses 2017: $325,469Net Income 2017: $18,6832017Revenue 2021: $147,330Expenses 2021: $86,704Net Income 2021: $60,6262021Revenue 2022: $120,403Expenses 2022: $135,750Net Income 2022: -$15,3472022

Highlighted filing

2015

Revenue$254,820
Expenses$300,794
Net Income-$45,974
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Aug 12, 2016
Return Version
2015v2.0
Gross Receipts
$254,820
Mission and Program Overview

Mission

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.

Central Texas Angel Network exempt purpose is to promote and stimulate the common business interests of its members and the Central Texas area. This is accomplished by working with early-stage companies to assist them in their efforts to start, fund, and grow new companies.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$129,550$85,426▼ $44,124
Rtn Earn Endowment Incm Other Fnds$129,550$83,576▼ $45,974
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$129,550$85,426▼ $44,124
Other Assets Total-$0-
Liabilities
Deferred Revenue-$1,850-
Total Liabilities$0$1,850▲ $1,850
Net Assets / Fund Balance
Total Net Assets Fund Balance$129,550$83,576▼ $45,974
Total Liabilities and Net Assets / Fund Balance$129,550$85,426▼ $44,124
Compensation and Service Providers
Top Officer Pay95th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Claire EnglandExecutive DirectorFT$87,500$87,500
Mark ThorsenDue Diligence AssociateFT$82,417$82,417

Board Members and Trustees

NameTitle
Rick Timmins - Chairman of theBoard
Bril FlintBoard Member
Gene BettsBoard Member
John LynnBoard Member
John PaulosBoard Member
Rosa McCormickBoard Member
Lance Adams - Board Member andTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$254,820
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-45,974
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$188,245
Other Expenses$112,549
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$152,183$16,909-$169,092
Payroll Taxes$17,238$1,915-$19,153
All Other Expenses$1,250$10,771-$12,021
Fees for Services Accounting-$8,948-$8,948
Other Expenses$11,888$6,017-$6,017
Travel-$4,759-$4,759
Occupancy$3,780$420-$4,200
Insurance-$4,056-$4,056
Office Expenses-$2,413-$2,413
Advertising-$883-$883
Total Functional Expenses$243,703$57,091$0$300,794
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
In-house lobbying only
Yes
Subject to proxy tax
Yes
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
No
Audit committee
No
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“The form 990 was prepared by a CPA firm. The completed Form 990 was circulated to all Board members to permit their review and comment, should they choose to do so, before filing.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The compensation of employees is determined by the Board of Directors, all of whom are independent and receive no compensation. In making those determinations, the Directors sought to reference market based compensation data for similar positions to the extent that it was available.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“The compensation of employees is determined by the Board of Directors, all of whom are independent and receive no compensation. In making those determinations, the Directors sought to reference market based compensation data for similar positions to the extent that it was available.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The organization does not make financial statements or governing documents available to the public, other than those required to be made available pursuant to IRC Section 501(a) and Regulation 301.6104(d), or other applicable Federal or State statutes.”

Filing and Contact Details

Filer

Filer Name
Central Texas Angel Network
EIN
30-0358356
Phone
5125186054
Address
PO Box 5435, Austin, TX 78763

Signing Officer

Name
Gene Betts
Title
Treasurer
Signed
2016-08-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Claire England - Exec Dir
Formed
2006
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
2
Volunteers
130

Preparer

Firm
Rathmann & Bach LLP
Address
54 Rainey St Suite 503, Austin, TX 78701
Preparer
Andrew Millet CPA
Phone
5125932999
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IRS990/Desc01. Hosted more than 60+ events for entrepreneurs and business leaders, including a full-day conference educating investors and entrepreneurs on exits and acquisitions. 2. Mentored and educated entrepreneurs via 10 Investor Office Hours events and 6 Entrepreneur Workshops.3. Led 6 investor education events, introducing new members to investing principles and teaching them topics relevant to early-stage investing.4. Grew our membership with more than 25 net new members.5. Expanded our sponsor program to support our business community work via several new partnerships.6. CTAN members invested more than $13.3 million in 43 companies in 2015; 20 of those companies were new to our members' portfolio.7. CTAN members volunteered about 5,000 hours in the business community, mentoring and advising early-stage companies.
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IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0254820
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0129550
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt083576
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleC/AgreeCarryoverPriorYearInd0false
IRS990ScheduleC/Form1120POLFiledInd0false
IRS990ScheduleC/OnlyInHouseLobbyingInd0true
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0true
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The form 990 was prepared by a CPA firm. The completed Form 990 was circulated to all Board members to permit their review and comment, should they choose to do so, before filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The compensation of employees is determined by the Board of Directors, all of whom are independent and receive no compensation. In making those determinations, the Directors sought to reference market based compensation data for similar positions to the extent that it was available.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The compensation of employees is determined by the Board of Directors, all of whom are independent and receive no compensation. In making those determinations, the Directors sought to reference market based compensation data for similar positions to the extent that it was available.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The organization does not make financial statements or governing documents available to the public, other than those required to be made available pursuant to IRC Section 501(a) and Regulation 301.6104(d), or other applicable Federal or State statutes.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0129550
IRS990/TotalAssetsEOYAmt085426
IRS990/TotalAssetsGrp/BOYAmt0129550
IRS990/TotalAssetsGrp/EOYAmt085426
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt057091
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0243703
IRS990/TotalFunctionalExpensesGrp/TotalAmt0300794
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt01850
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt01850
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0129550
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt083576
IRS990/TotalProgramServiceExpensesAmt0243703
IRS990/TotalProgramServiceRevenueAmt0254820
IRS990/TotalReportableCompFromOrgAmt0169917
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0254820
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0254820
IRS990/TotalVolunteersCnt0130
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0129550
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt085426
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/ManagementAndGeneralAmt04759
IRS990/TravelGrp/TotalAmt04759
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0http://centraltexasangelnetwork.com/
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Gene Betts
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-08-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Central Texas Angel Network
ReturnHeader/Filer/BusinessNameControlTxt0CENT
ReturnHeader/Filer/EIN0300358356
ReturnHeader/Filer/PhoneNum05125186054
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO Box 5435
ReturnHeader/Filer/USAddress/CityNm0Austin
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd078763
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Rathmann & Bach LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt054 Rainey St Suite 503
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Austin
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd078701
ReturnHeader/PreparerPersonGrp/PhoneNum05125932999
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Andrew Millet CPA
ReturnHeader/ReturnTs02016-08-12T14:33:20-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$85,426
Liabilities
$1,850
Net assets
$83,576
Revenue
$254,820
Expenses
$300,794
Net income
-$45,974
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$3.15$3.15$1.20$1.36$0.15
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.41$0.02$3.39$1.47$0.87$0.61
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.54$0.36$1.18$3.44$3.25$0.19
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.07$0.07$1.00$3.46$3.30$0.16
2015Detailed filing. Detailed filing data is available for this year.$0.85$0.02$0.84$2.55$3.01$0.46