Civic Intelligence

Central Texas Angel Network

990 • Fiscal year 2016 • EIN 30-0358356

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 15, 2017

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

69th percentile

0.07x

Higher debt load relative to assets than 69% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

63rd percentile

0.02x

Higher debt load relative to revenue than 63% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Net Margin

56th percentile

4.6%

Higher net margin than 56% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Top Officer Pay

96th percentile

$100,000

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 28.9% of source-year revenue.

2016 filings • 501(c)6 • <$500k nonprofits • Source year 2016

Asset Growth

81st percentile

25%

Faster asset growth than 81% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

88th percentile

36%

Faster revenue growth than 88% of similar nonprofits.

2016 filings • 501(c)6 • <$500k nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets69th percentile

Assets

Up

$106,778

Up $21,352 (+25%) from 2015

Net Assets

Up

$99,578

Up $16,002 (+19%) from 2015

Liabilities

Up

$7,200

Up $5,350 (+289%) from 2015

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin56th percentile

Revenue

Up

$345,628

Up $90,808 (+36%) from 2015

Expenses

Up

$329,626

Up $28,832 (+9.6%) from 2015

Net Income

Up

$16,002

Up $61,976 (+135%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth81st percentile

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

2016

Assets$106,778
Liabilities$7,200
Net Assets$99,578
Open 2016 Filing

Operations Trend

Revenue Growth88th percentile

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

2016

Revenue$345,628
Expenses$329,626
Net Income$16,002
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 15, 2017
Return Version
2016v3.0
Gross Receipts
$345,628
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$85,426$106,778▲ $21,352
Rtn Earn Endowment Incm Other Fnds$83,576$99,578▲ $16,002
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$85,426$106,778▲ $21,352
Other Assets Total-$0-
Liabilities
Deferred Revenue$1,850$7,200▲ $5,350
Total Liabilities$1,850$7,200▲ $5,350
Net Assets / Fund Balance
Total Net Assets Fund Balance$83,576$99,578▲ $16,002
Total Liabilities and Net Assets / Fund Balance$85,426$106,778▲ $21,352
Compensation and Service Providers
Top Officer Pay96th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Claire EnglandExecutive DirectorFT$100,000$100,000
Mark ThorsenInvestment ManagerFT$75,000$75,000

Board Members and Trustees

NameTitle
Rick TimminsBoard Chairman
Bril FlintBoard Member
John LynnBoard Member
Michael MisikoffBoard Member
Rosa McCormickBoard Member
Tom RogersBoard Member
Gene BettsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$338,526
Investment Income
$0
Other Revenue
$7,102
Change in Net Assets
$16,002
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$204,273
Other Expenses$125,353
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$157,500$17,500-$175,000
Payroll Taxes$11,971$1,330-$13,301
Other Employee Benefits$11,675$1,297-$12,972
Other Expenses$17,228$11,222-$11,222
All Other Expenses$7,693$880-$8,573
Travel-$4,531-$4,531
Insurance-$4,316-$4,316
Other Salaries and Wages$2,700$300-$3,000
Fees for Services Other-$2,752-$2,752
Advertising-$1,282-$1,282
Office Expenses-$756-$756
Total Functional Expenses$254,782$74,844$0$329,626
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
2017-11-15
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
160

Preparer

Firm
Rathmann & Bach LLP
Address
54 Rainey St Suite 503, Austin, TX 78701
Preparer
Sergio Salinas CPA
Phone
5125932999
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IRS990/Desc01. Hosted more than 80+ events, all focused on helping accredited investors and entrepreneurs build successful early-stage companies. 2. Mentored and educated entrepreneurs via 10 Investor Office Hours, 6 Entrepreneur Workshops, and more than a dozen Staff Office Hours.3. Led 7 investor education events, introducing new members to investing principles and teaching members topics relevant to early-stage investing.4. Grew our membership with more than 30 new members.5. Increased our outreach to support our business community work through new and expanded community partnerships with entrepreneur support organizations.6. CTAN members invested more than $14.2 million in 43 companies in 2016; 15 of those companies were new to our members' portfolios. Members increased support to their existing portfolios with follow-on investments in 28 companies.7. CTAN members volunteered more than 5,400 hours in the business community, mentoring and advising early-stage companies.8. CTAN was named the #1 most active single-chapter angel group in the nation in 2015 and 2016 by Angel Resource Institute.
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1233026
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt24750
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt315000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt085750
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1233026
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt24750
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt315000
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0112549
IRS990/PYProgramServiceRevenueAmt0254820
IRS990/PYRevenuesLessExpensesAmt0-45974
IRS990/PYSalariesCompEmpBnftPaidAmt0188245
IRS990/PYTotalExpensesAmt0300794
IRS990/PYTotalRevenueAmt0254820
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt016002
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0338526
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt083576
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt099578
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/TotalAssetsBOYAmt085426
IRS990/TotalAssetsEOYAmt0106778
IRS990/TotalAssetsGrp/BOYAmt085426
IRS990/TotalAssetsGrp/EOYAmt0106778
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt074844
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0254782
IRS990/TotalFunctionalExpensesGrp/TotalAmt0329626
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01850
IRS990/TotalLiabilitiesEOYAmt07200
IRS990/TotalLiabilitiesGrp/BOYAmt01850
IRS990/TotalLiabilitiesGrp/EOYAmt07200
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt083576
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt099578
IRS990/TotalProgramServiceExpensesAmt0254783
IRS990/TotalProgramServiceRevenueAmt0338526
IRS990/TotalReportableCompFromOrgAmt0175000
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0345628
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0345628
IRS990/TotalVolunteersCnt0160
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt085426
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0106778
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/ManagementAndGeneralAmt04531
IRS990/TravelGrp/TotalAmt04531
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0http://centraltexasangelnetwork.com/
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Gene Betts
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-11-15
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/PreparerPersonNm0Sergio Salinas CPA
ReturnHeader/ReturnTs02017-11-08T14:07:57-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$106,778
Liabilities
$7,200
Net assets
$99,578
Revenue
$345,628
Expenses
$329,626
Net income
$16,002
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
2016Detailed filing. Detailed filing data is available for this year.$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