Civic Intelligence

Central Texas Angel Network

990 • Fiscal year 2017 • EIN 30-0358356

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 12, 2018

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

83rd percentile

0.23x

Higher debt load relative to assets than 83% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

78th percentile

0.10x

Higher debt load relative to revenue than 78% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Source year 2017

Net Margin

58th percentile

5.4%

Higher net margin than 58% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Source year 2017

Top Officer Pay

97th percentile

$103,000

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 29.9% of source-year revenue.

2017 filings • 501(c)6 • <$500k nonprofits • Source year 2017

Asset Growth

89th percentile

44%

Faster asset growth than 89% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

47th percentile

-0.4%

Faster revenue growth than 47% of similar nonprofits.

2017 filings • 501(c)6 • <$500k nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Up

$154,261

Up $47,483 (+44%) from 2016

Net Assets

Up

$118,261

Up $18,683 (+19%) from 2016

Liabilities

Up

$36,000

Up $28,800 (+400%) from 2016

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin58th percentile

Revenue

Down

$344,152

Down $1,476 (-0.4%) from 2016

Expenses

Down

$325,469

Down $4,157 (-1.3%) from 2016

Net Income

Up

$18,683

Up $2,681 (+17%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth89th 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

2017

Assets$154,261
Liabilities$36,000
Net Assets$118,261
Open 2017 Filing

Operations Trend

Revenue Growth47th 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

2017

Revenue$344,152
Expenses$325,469
Net Income$18,683
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 12, 2018
Return Version
2017v2.2
Gross Receipts
$344,152
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$106,778$154,261▲ $47,483
Rtn Earn Endowment Incm Other Fnds$99,578$118,261▲ $18,683
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$106,778$154,261▲ $47,483
Other Assets Total-$0-
Liabilities
Deferred Revenue$7,200$36,000▲ $28,800
Total Liabilities$7,200$36,000▲ $28,800
Net Assets / Fund Balance
Total Net Assets Fund Balance$99,578$118,261▲ $18,683
Total Liabilities and Net Assets / Fund Balance$106,778$154,261▲ $47,483
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Claire EnglandExecutive DirectorFT$103,000$103,000
Mark ThorsenInvestment ManagerFT$80,625$80,625

Board Members and Trustees

NameTitle
Rick TimminsPresident
John LynnBoard Member
John ShawBoard Member
Kelsey AugustBoard Member
Michael MisikoffBoard Member
Tom RogersBoard Member
Gene BettsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$344,152
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$18,683
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$209,073
Other Expenses$116,396
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$165,262$18,362-$183,624
Other Employee Benefits$11,601$1,289-$12,890
Payroll Taxes$11,303$1,256-$12,559
Other Expenses$16,475$9,971-$9,971
All Other Expenses$7,659$1,357-$9,016
Insurance-$4,684-$4,684
Travel-$3,495-$3,495
Fees for Services Other-$1,729-$1,729
Advertising-$1,235-$1,235
Office Expenses-$253-$253
Total Functional Expenses$254,044$71,425$0$325,469
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
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
Michael Misikoff
Title
Board Member
Signed
2018-11-12
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
185

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 100 events and meetings, all focused on helping accredited investors and entrepreneurs build successful early-stage companies. 2. Mentored and educated entrepreneurs via 5 Investor Mentor Hours, 5 Funding Forum entrepreneur workshops, dozens of community education panels, and dozens of Staff Office Hours.3. Led 5 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 45 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 more than $11 million into 50 companies in 2017; 19 of those companies were new to our members' porfolios. Members increased support to their existing portfolios with follow-on investments in 31 companies. This represents the highest number of companies with member investments in organization history.7. CTAN members volunteered more than 6,000 hours in the business community, mentoring and advising early-stage companies.8. For the fifth year in a row, CTAN was named a top 5 most active angel group in the nation in 2017 by Angel Resource Institute.9. Hosted our first-annual Portfolio Summit, with a full day of content and networking for portfolio companies, members, and business leaders.
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IRS990/PYProgramServiceRevenueAmt0338526
IRS990/PYRevenuesLessExpensesAmt016002
IRS990/PYSalariesCompEmpBnftPaidAmt0204273
IRS990/PYTotalExpensesAmt0329626
IRS990/PYTotalRevenueAmt0345628
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt018683
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0344152
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt099578
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0118261
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/TotalAssetsBOYAmt0106778
IRS990/TotalAssetsEOYAmt0154261
IRS990/TotalAssetsGrp/BOYAmt0106778
IRS990/TotalAssetsGrp/EOYAmt0154261
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt071425
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0254044
IRS990/TotalFunctionalExpensesGrp/TotalAmt0325469
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt07200
IRS990/TotalLiabilitiesEOYAmt036000
IRS990/TotalLiabilitiesGrp/BOYAmt07200
IRS990/TotalLiabilitiesGrp/EOYAmt036000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt099578
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0118261
IRS990/TotalProgramServiceExpensesAmt0254044
IRS990/TotalProgramServiceRevenueAmt0344152
IRS990/TotalReportableCompFromOrgAmt0183625
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0344152
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0344152
IRS990/TotalVolunteersCnt0185
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0106778
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0154261
IRS990/TravelGrp/ManagementAndGeneralAmt03495
IRS990/TravelGrp/TotalAmt03495
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0http://centraltexasangelnetwork.com/
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Michael Misikoff
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Board Member
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-12
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/PreparerFirmEIN0475675853
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/ReturnTs02018-11-12T07:51:41-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$154,261
Liabilities
$36,000
Net assets
$118,261
Revenue
$344,152
Expenses
$325,469
Net income
$18,683
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
2017Detailed filing. Detailed filing data is available for this year.$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