How to Become a Member

 

Membership Requirements:

 

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.