Nonprofit · EIN 86-1255672
MICHIGAN CAPITAL NETWORK ASSOCIATION
Tax-exempt · GRAND RAPIDS, MI 49503
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $297,226 | $225,670 | $71,556 | $176,828 | $3,999 | $172,829 |
| December 31, 2023 | 990 | $536,342 | $475,254 | $61,088 | $130,882 | $30,188 | $100,694 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $288,948
- Membership dues
- $243,500
- Program service revenue
- $0
- Investment income
- $7,790
- Other revenue
- $488
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $4,230
- Accounting fees
- $2,329
- Travel
- $1,869
- Program services (functional)
- $209,246
- Management and general (functional)
- $16,424
Balance sheet and other
- Total assets, start of year
- $130,882
- Total assets, end of year
- $176,828
- Total liabilities, end of year
- $3,999
- Net assets, end of year
- $172,829
- Gross receipts
- $297,226
- Employees
- 0
- Year formed
- 2021
- State of legal domicile
- MI
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs |
|---|---|---|---|---|
| Paul D'Amato | CEO & Former Director Former | 0.5 | $0 | $304,369 |
| Meagan Malm | Board Director Officer | 10 | $0 | $120,422 |
| Emily Gilbert | Board Member Officer | 40 | $0 | $56,864 |
| Joerg Picard | Board Director Officer | 1 | $0 | $0 |
| Lee Richards | Board Director Officer | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 5 people
| Name | Title | Hours / week | Compensation | From related orgs |
|---|---|---|---|---|
| Paul D'Amato | Member & CEO Officer | 1 | $0 | $312,236 |
| Diane Durance | Vice President Officer | 40 | $115,540 | $11,221 |
| Jody Vanderwel | Director Officer | 1 | $0 | $13,438 |
| David Hodge | Treasurer Officer | 1 | $0 | $0 |
| Joerg Picard | TREASURER Officer | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 37 OTTAWA AVE NW STE 200, GRAND RAPIDS, MI 49503-2647
- In care of
- % PAUL DAMATO
- Principal officer (990 for 2024)
- MEAGAN MALM, 37 Ottawa Ave NW Suite 200, Grand Rapids, MI 49503
- Signed the 990
- MEAGAN MALM, DIRECTOR
- Phone
- (616) 566-1770
- Return prepared by
- BDO USA
Mission
ESTABLISH A COMMUNITY OF INDIVIDUALS AND GROUPS ENGAGED IN THE TRADE AND BUSINESS OF EARLY-STAGE INVESTING BY CREATING AN ASSOCIATION THAT EMPOWERS ITS MEMBERS WITH THE TOOLS, RESOURCES, AND SUPPORT TO ADVANCE THE BUSINESS CONDITIONS FOR THE ASSOCATION AND ITS MEMBERS.
Program accomplishments
- THE LARGEST SERVICE PROGRAM WE HAVE IS GRAND ANGELS. IT GENERATED 55 MEMBERS OF THE 98 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.Expenses $117,434
- THE SECOND LARGEST SERVICE PROGRAM WE HAVE IS WOODWARD ANGELS. IT GENERATED 22 MEMBERS OF THE 98 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.Expenses $46,974
- THE THIRD LARGEST SERVICE PROGRAM WE HAVE IS BLUEWATER ANGELS. IT GENERATED 11 OF 98 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.Expenses $23,487
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 86-1255672
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 2022
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S41)
- Assets (IRS master file)
- $176,828
- Income (IRS master file)
- $297,226
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $297,226 | $225,670 | $176,828 | XML |
| 990 | December 2023 | $536,342 | $475,254 | $130,882 | XML |
| 990 | December 2022 | $360,123 | $358,753 | $49,462 | IRS |
| 990 | December 2021 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 86-1255672).
Questions about MICHIGAN CAPITAL NETWORK ASSOCIATION
- What is the EIN of MICHIGAN CAPITAL NETWORK ASSOCIATION?
- The employer identification number (EIN) of MICHIGAN CAPITAL NETWORK ASSOCIATION is 86-1255672.
- Is MICHIGAN CAPITAL NETWORK ASSOCIATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 2022.
- Are donations to MICHIGAN CAPITAL NETWORK ASSOCIATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does MICHIGAN CAPITAL NETWORK ASSOCIATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of MICHIGAN CAPITAL NETWORK ASSOCIATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MICHIGAN CAPITAL NETWORK ASSOCIATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of MICHIGAN CAPITAL NETWORK ASSOCIATION?
- The 990 for the year ended December 31, 2024 names MEAGAN MALM.
- Who are the officers and directors of MICHIGAN CAPITAL NETWORK ASSOCIATION?
- The 990 for the year ended December 31, 2024 lists 5 people; 0 received compensation from the organization.
- How much revenue does MICHIGAN CAPITAL NETWORK ASSOCIATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $297,226, expenses of $225,670 and total assets of $176,828 at year end.
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All nonprofits in GRAND RAPIDS · Michigan · Community improvement and capacity building