What is an Accredited Investor?

FOR INDIVIDUALS

An individual must have a net worth, or joint net worth with their spouse, excluding their primary but including home furnishings and personal automobiles of more than $1,000,000;

or
must have an individual income in excess of $200,000 or joint income with their spouse in excess of $300,000, in each of the two (2) most recent years and have a reasonable expectation of reaching the same income level in this year.

 

FOR CORPORATIONS & TRUSTS

  • any corporation, Massachusetts or similar business trust, partnership, or organization described in Code Section 501(c)(3), not formed for the specific purpose of acquiring Interests, with total assets over $5,000,000;

  • any trust, with total assets over $5,000,000, not formed for the specific purpose of acquiring Interests and whose purchase is directed by a person who has such knowledge and experience in financial and business matters that he or she is capable of evaluating the merits and risks of an investment in the Interests as described in Rule 506(b)(2)(ii) under the Securities Act;

  • any broker-dealer registered under Section 15 of the Securities Exchange Act of 1934, as amended;

  • any investment company registered under the Investment Company Act or a business development company (as defined in Section 2(a)(48) of the Investment Company Act);

  • any small business investment company licensed by the Small Business Administration under Section 301(c) or (d) or the Small Business Investment Act of 1958, as amended;

  • any employee benefit plan within the meaning of ERISA, if the investment decision is made by a plan fiduciary (as defined in Section 3(21) of ERISA), which is either a bank, savings and loan association, insurance company, or registered investment advisor, or if such employee benefit plan has total assets over $5,000,000 or, if a self-directed plan, with investment decisions made solely by persons who are accredited investors;

  • any private business development company (as defined in Section 202(a)(22) of the Investment Advisers Act of 1940, as amended);

  • any bank as defined in Section 3(a)(2) of the Securities Act, any savings and loan association or other institution as defined in Section 3(a)(5)(A) of the Securities Act whether acting in its individual or fiduciary capacity, or any insurance company as defined in Section 2(13) of the Securities Act;

  • any plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees, if such plan has total assets of more than $5,000,000;

  • any executive officer of the Signatory Trustee or, if applicable, its manager; or,

  • any entity in which all of the equity owners are accredited investors.