Accredited Investor

As defined by the SEC, an accredited investor is an individual who meets one of the following requirements:

Individuals with annual income over $200K (individually) or $300K (with spouse or spousal equivalent) in each of the last 2 years and an expectation of the same this year

Individuals with net assets over $1 million, excluding the primary residence (unless more is owed on the mortgage than the residence is worth)

An institution with over $5 million in assets, such as a venture fund or a trust

An entity made up entirely of accredited investors

SEC- and state-registered investment advisers

Exempt reporting advisers filing with the SEC

Individuals with certain professional certifications (Series 7, Series 65, and Series 82 license)

"Family Offices” with over $5 million in assets under management and their “family clients,” as each term is defined under the Investment Advisers Act

Any entity with over $5 million in investments and that was not formed for the specific purpose of investing in the securities offered.