NonprofitsAlabama Capital Network Inc

Community Improvement & Capacity Building

Alabama Capital Network Inc

BIRMINGHAM, AL

Total revenue

$375K

Total expenses

$350K

Net assets

$206K

Grants received

$15K

1 grants

EIN

874355000

Tax year

2024

Mission

To assist start-up companies and early stage entrepreneurs within Alabama gain access to education, capital and technical assistance.

Programs

2 programs

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.

Financials

FY 2024

Revenue

Contributions & grants$402K
Program service revenue
Investment income$17
Other revenue
Total revenue$375K

Expenses

Grants paid
Salaries & benefits$285K
Fundraising
Other expenses$65K
Total expenses$350K
Total assets$219K
Net assets$206K

People

6 listed

NameRoleCompensation

Benzamin Choi

Executive Officer

Board

$166K

40 hrs/wk

Charlie Perry

Director

Board

1 hrs/wk

Sanjay Singh

Chairman

Board

1 hrs/wk

William Goodrich

Director

Board

1 hrs/wk

William Terry

Treasurer

Board

1 hrs/wk

Ruffner Page

Director

Board

1 hrs/wk

Grants received

Showing 1 of 1

FromAmountPurposeYear
$15K
TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION
2022

Funded by

$15K from 1 funder · 1 grant · 2022

Altecstyslinger Foundation

$15K · 1 grant · 2022

Details

EIN874355000
NTEE codeS43
Subsection03
Ruling date2022-09
Formed2021
Employees4
Volunteers0
ALABAMA CAPITAL NETWORK INC — Mission, Financials & Grants Received | Grantivo