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Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2022.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
82 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
6 people listed on the 990; $166K paid to officers and key staff.
Benzamin Choi’s $166K as Executive Officer is at the 93rd percentile of top reported officer pay among 1709 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 1 named individual · Part VII
| Name | FY2024 | FY2023 |
|---|---|---|
| Benzamin Choi | $165,584 | $114,000 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Helps Alabama startups and entrepreneurs access education, capital, and technical help.
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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 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.
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.
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Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $148K | $219K |
| Total assetsLn 16 | $149K | $219K |
| LiabilitiesLn 26 | $4K | $14K |
| Net assetsLn 32 | $144K | $206K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $166K | $124K | $41K | |
| Other salaries and wagesLn 7 | $88K | $79K | $9K | |
| Other employee benefitsLn 9 | $12K | $10K | $2K | |
| Payroll taxesLn 10 | $19K | $16K | $3K | |
| Accounting feesLn 11c | $20K | $18K | $2K | |
| Advertising and promotionLn 12 | $11K | $10K | $1K | |
| Office expensesLn 13 | $2K | $2K | $179 | |
| OccupancyLn 16 | $10K | $9K | $959 | |
| TravelLn 17 | $2K | $2K | $237 | |
| InsuranceLn 23 | $1K | $1K | $118 | |
| Other expenses (24a–d)Ln 24 | $17K | $15K | $1K | |
| All other expensesLn 24e | $3K | $3K | $460 | |
| Total functional expensesLn 25 | $350K | $288K | $62K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest Viewing | $375K | $350K | $25K | $206K | 990 PDF |
| FY2023 | $430K | $345K | $85K | $144K | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $374,507 across 6 lines filed
Part IX · Statement of functional expenses $349,999 across 12 lines filed
Part X · Balance sheet $219,158 assets, 9 lines filed
Part XI · Reconciliation of net assets $205,583 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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