How to Become a Member
• New Members are recommended and sponsored by an existing member or eCoast Angels (eCoast) partner
• Members must be accredited investors, defined as “Accredited Investor” as defined in the Securities Act of 1933, including its “August 2020 Modernized amendments”. for individuals means a natural person who has individual net worth or joint net worth with the person’s spouse that exceeds $1 million excluding the value of the primary residence of such person(s) at the time of the purchase,” OR “a natural person with income exceeding $200,000 in each of the two most recent years or joint income with a spouse exceeding $300,000 for those years and a reasonable expectation of the same income level in the current year.”
• Members are expected to be involved in eCoast efforts by participating in one or more of the following*:
• Sourcing potential investments for review by the screening committee
• Being an active part of the screening and/or investment process
• Assisting in due diligence efforts
• Serving on committees as formed by the Executive Committee
• Recommending new members to the group
• Members agree to abide by the terms and conditions of the eCoast’s Membership Agreement, including: o Paying an annual membership fee as determined by the Executive Committee of Directors. o Investing at least 2 deals totaling a minimum of $40,000 during the first two years of membership. o Regularly attending membership meetings*. Membership
• Membership is at the discretion of eCoast’s Executive Committee and is subject to annual renewal, non-renewal, revocation or termination by the Executive Committee.
• Interested parties must complete the Membership Agreement, the Rules of Membership and Conduct, and, if applicable, the Membership Survey. These items should be submitted as directed in the Membership Agreement.
• The Executive Committee will review all applications for membership and endeavor to provide applicants with a response within thirty (30) days of receiving the completed application.
• Membership may be terminated or revoked, at the discretion and determination of the Executive Committee.