Nonprofit · EIN 87-4355000
ALABAMA CAPITAL NETWORK INC
Tax-exempt · BIRMINGHAM, AL 35203
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $374,507 | $349,999 | $24,508 | $219,158 | $13,575 | $205,583 |
| December 31, 2023 | 990 | $430,100 | $345,242 | $84,858 | $148,625 | $4,199 | $144,426 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $401,792
- Membership dues
- $343,792
- Program service revenue
- $0
- Investment income
- $17
- Net income from fundraising events
- -$27,302
- Other revenue
- -$27,302
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $165,584
- Other salaries and wages
- $88,000
- Salaries, compensation and benefits (total)
- $284,832
- Professional fundraising fees
- $0
- Accounting fees
- $19,650
- Occupancy
- $9,589
- Travel
- $2,369
- Program services (functional)
- $287,708
- Management and general (functional)
- $62,291
Balance sheet and other
- Total assets, start of year
- $148,625
- Total assets, end of year
- $219,158
- Total liabilities, end of year
- $13,575
- Net assets, end of year
- $205,583
- Net assets without donor restrictions
- $205,583
- Gross receipts
- $404,680
- Employees
- 4
- Volunteers
- 0
- Year formed
- 2021
- State of legal domicile
- AL
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 |
|---|---|---|---|
| Benzamin Choi | Executive Officer Officer | 40 | $165,584 |
| Charlie Perry | Director Trustee or director | 1 | $0 |
| Sanjay Singh | Chairman Trustee or director, Officer | 1 | $0 |
| William Goodrich | Director Trustee or director | 1 | $0 |
| William Terry | Treasurer Trustee or director, Officer | 1 | $0 |
| Ruffner Page | Director Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Benzamin Choi | Executive Officer Officer | 40 | $114,000 |
| Charlie Perry | Director Trustee or director | 1 | $0 |
| Hayley Van Antwerp | Director Trustee or director | 1 | $0 |
| Sanjay Singh | Chairman Trustee or director, Officer | 1 | $0 |
| William Goodrich | Director Trustee or director | 1 | $0 |
| William Terry | Treasurer Trustee or director, Officer | 1 | $0 |
| Ruffner Page | Director Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 1914 4TH AVE N STE 430, BIRMINGHAM, AL 35203-3517
- In care of
- % JOSHUA JONES
- Mailing address (990-N for 2022)
- PO Box 590081, Birmingham AL 352590081
- Principal officer (990 for 2024)
- Benzamin Choi, PO Box 590081, Birmingham, AL 352590081
- Principal officer (990-N for 2022)
- Benzamin Choi, PO Box 590081, Birmingham AL 352590081
- Signed the 990
- Benzamin Choi, CEO
- Phone
- (205) 239-7152
- Return prepared by
- Kassouf & Co Inc
Mission
Alabama Capital Network, Inc. provides start-up companies and early stage entrepreneurs with access to education, capital and technical assistance to further aid the broader community by supporting local economic development and education.
Program accomplishments
- Alabama Capital Network (ACN) works with business incubators, accelerators, and university tech transfer offices to coordinate resources related to coaching and supporting startup companies. This includes coaching around business plan development, fundraising, finding early customers, tweaking sales & marketing strategies, and more. ACN focuses on helping these companies develop to a position of maturity where they can raise additional funding to support scalable growthExpenses $287,708 · revenue $404,679
- ACN evaluates over 350 startup pitch presentations each year. These come from pitch competitions, university programs, incubator residents, conferences, university programs, and unsolicited pitches being submitted on the ACN website. Wherever possible, ACN provides feedback to each startup relating to how they can best grow their company and improve the likelihood of receiving funding. The best of these companies are then presented in regular Showcase events similar to the TV show Shark Tank, where investors in the audience may opt to invest in the companies presenting. ACN does not make investment recommendations, but instead focuses on making introductions and connections that support the entrepreneurs.
- ACN works with the best startups it identifies to make connections to corporations that may become customers, investors, or supply chain partners. This has already resulted in numerous contracts being achieved by the startups, which furthers their growth as a company. This has been particularly impactful where ACN works with startups in rural areas and connects them to larger corporations in larger cities that might otherwise not be accessible.
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
- 87-4355000
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2022
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S43)
- Assets (IRS master file)
- $219,158
- Income (IRS master file)
- $404,680
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $374,507 | $349,999 | $219,158 | IRS |
| 990 | December 2023 | $430,100 | $345,242 | $148,625 | XML |
| 990-N for 2022 Officer: Benzamin Choi | December 31, 2022 | ≤ $50,000 receipts | – | – | e-Postcard |
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 87-4355000).
Questions about ALABAMA CAPITAL NETWORK INC
- What is the EIN of ALABAMA CAPITAL NETWORK INC?
- The employer identification number (EIN) of ALABAMA CAPITAL NETWORK INC is 87-4355000.
- Is ALABAMA CAPITAL NETWORK INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to ALABAMA CAPITAL NETWORK INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does ALABAMA CAPITAL NETWORK INC 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 ALABAMA CAPITAL NETWORK INC 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 ALABAMA CAPITAL NETWORK INC 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 ALABAMA CAPITAL NETWORK INC?
- The 990 for the year ended December 31, 2024 names Benzamin Choi.
- Who are the officers and directors of ALABAMA CAPITAL NETWORK INC?
- The 990 for the year ended December 31, 2024 lists 6 people; 1 received compensation from the organization, the highest $165,584 (Benzamin Choi, Executive Officer).
- How much revenue does ALABAMA CAPITAL NETWORK INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $374,507, expenses of $349,999 and total assets of $219,158 at year end.
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