Michigan Capital Network Association
- Assets
- $130.9k
- Revenue
- $536.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- Data as of
- 12/2023
- EIN
- 86-1255672
Organization Overview
Michigan Capital Network Association is located in Grand Rapids, MI. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan Capital Network Association 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, Michigan Capital Network Association generated $536.3k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 23.4% each year . All expenses for the organization totaled $475.3k during the year ending 12/2023. While expenses have increased by 24.3% per year over the past 3 years. They've been increasing with an increasing level of total revenue. 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
ESTABLISH A COMMUNITY OF INDIVIDUALS AND GROUPS ENGAGED IN THE TRADE AND BUSINESS OF EARLY-TRADE INVESTING
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LARGEST SERVICE PROGRAM WE HAVE IS GRAND ANGELS. IT GENERATED 62 MEMBERS OF THE 103 TOTAL MEMBERS IN OUR ORGANIZATION. THIS PROGRAM FOCUSES ON INVESTORS IN THE GREATER GRAND RAPIDS AREA. WE PROVIDE MONTHLY MEETINGS FOR OUR GRAND ANGELS WHERE WE HOST 1-3 CEOS FROM VARIOUS COMPANIES. THIS SUPPORTS OUR MISSION TO EDUCATE, GROW AND DIVERSIFY INVESTORS. WE FOCUS ON EARLY-STAGE INVESTING IN MICHIGAN AND THE SURROUNDING AREAS AS WELL AS A FOCUS ON ATTRACTING MEMBERS IN ADVANCED MANUFACTURING, ALTERNATIVE ENERGY, CONSUMER GOODS, LIFE SCIENCE AND OTHER TECHNOLOGIES.
THE SECOND LARGEST SERVICE PROGRAM WE HAVE IS WOODWARD ANGELS. IT GENERATED 23 MEMBERS OF THE 103 TOTAL MEMBERS IN OUR ORGANIZATION. THIS PROGRAM FOCUSES ON INVESTORS IN THE GREATER DETROIT AREA. SIMILAR TO THE ABOVE, WE HOST MONTHLY MEETINGS WHERE WE INVITE CEOS FROM VARIOUS COMPANIES AND FURTHER OUR MISSION TO EDUCATE, GROW AND DIVERSIFY OUR MEMBERSHIP. IT ALSO FOCUSES ON THE SAME COMPANIES AS GRAND ANGELS.
THE THIRD LARGEST SERVICE PROGRAM WE HAVE IS KZOO ANGELS. IT GENERATED 11 OF 103 TOTAL MEMBERS IN OUR ORGANIZATION. THIS PROGRAM FOCUSES ON INVESTORS IN THE GREATER KALAMAZOO AREA. SIMILAR TO THE ABOVE, WE HOST MONTHLY MEETINGS WHERE WE HOST 1-3 CEOS FROM VARIOUS COMPANIES. SINCE THIS IS AN ADDITIONAL GROUP OF OUR ORGANIZATION, IT ALSO ALLOWS OUR ORGANIZATION'S MISSION AND FOCUSES ON THE SAME COMPANIES AS GRAND ANGELS AND WOODWARD ANGELS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul D'amato Member & CEO | Officer | 1 | $0 |
Diane Durance Vice President | Officer | 40 | $115,540 |
Jody Vanderwel Director | Officer | 1 | $0 |
David Hodge Treasurer | Officer | 1 | $0 |
Joerg Picard Treasurer | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $264,096 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $56,250 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $320,346 |
| Total Program Service Revenue | $0 |
| Investment income | $5,996 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $210,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $536,342 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $223,519 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $17,723 |
| Payroll taxes | $18,334 |
| Fees for services: Management | $99,025 |
| Fees for services: Legal | $12,648 |
| Fees for services: Accounting | $3,862 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $25,445 |
| Office expenses | $9,038 |
| Information technology | $12,893 |
| Royalties | $0 |
| Occupancy | $16,291 |
| Travel | $1,775 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,555 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $85 |
| Total functional expenses | $475,254 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $53,970 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $76,912 |
| 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 | $130,882 |
| Accounts payable and accrued expenses | $12,359 |
| 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 | $17,829 |
| Total liabilities | $30,188 |
| Net assets without donor restrictions | $0 |
| 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 | $100,694 |
| Total liabilities and net assets/fund balances | $130,882 |