1 As of 2024, the criteria for an individual to be considered an accredited investor include:

1. Income Requirement: An individual must have an annual income exceeding $200,000 (or $300,000 together with a spouse or spousal equivalent) in each of the last two years, and a reasonable expectation of the same income level in the current year, or:

2. Net Worth Requirement: An individual must have a net worth exceeding $1 million, either alone or together with a spouse or spousal equivalent, excluding the value of their primary residence.

Additionally, certain entities can qualify as accredited investors, such as:

• Banks, insurance companies, registered investment companies, business development companies, or small business investment companies.

• Employee benefit plans, trusts, charitable organizations, partnerships, corporations, or similar entities with total assets exceeding $5 million.

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

• Individuals with certain professional certifications, designations, or other credentials issued by an accredited educational institution that the SEC has designated as qualifying an individual for accredited investor status.

These criteria are intended to ensure that accredited investors have sufficient financial knowledge and resources to understand and withstand the risks associated with investing in less regulated and potentially riskier securities.