2024-09-23T08:01:42-05:00 2023-12-31 570381582 ELLIOTT DAVIS LLCPLLC 500 EAST MOREHEAD STREET SUITE 700 CHARLOTTE NC 28202 990 2023-01-01 562227354 CHARLOTTE REGIONAL BUSINESS ALLIANCE FOUNDATION CHAR 7043781324 PO BOX 20103 CHARLOTTE NC 282020027 NATHANIEL HOGAN PRESIDENT 7043781324 2024-09-19 1 0 JANICE A RATICA P00358837 7043338881 2024-09-19 2023 2024-08-08 14:25:15Z NATHANIEL HOGAN PO BOX 20103 CHARLOTTE NC 282020027 1745677 0 X WWW.CHARLOTTEREGION.COM/FOUNDATION X 2000 NC TO CATALYZE TRANSFORMATIVE GROWTH IN THE CHARLOTTE REGION WHERE DYNAMIC (CONT'D ON PAGE 2) 9 9 0 9 0 0 634369 1735664 0 0 1471 10013 0 0 635840 1745677 0 0 0 0 160964 596617 0 0 72323 254155 797512 415119 1394129 220721 351548 1005207 1176093 347191 166529 658016 1009564 X SMALL BUSINESSES AND BUSINESS LEADERS THRIVE. 0 0 291054 367355 CHARLOTTE SMALL BUSINESS GROWTH FUND IS AN INNOVATIVE FUND FOCUSED ON GIVING SMALL BUSINESSES-INCLUDING THOSE THAT MAY NOT QUALIFY FOR FUNDING ELSEWHERE-ACCESS TO CAPITAL AT COMPETITIVE RATES. FUNDING FLOWS THROUGH MISSION BASED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS THAT STAY ENGAGED THROUGHOUT THE LIFE OF THE LOAN, PROVIDING COACHING, MENTORING, ACCELERATORS AND OTHER SUPPORTIVE SERVICES. 241269 117355 RISE (REGIONAL INNOVATION AND SUPPORT FOR ENTREPRENEURS) IS AN INNOVATIVE, ARTIFICIAL INTELLIGENCE POWERED TECHNOLOGY PLATFORM THAT HELPS ENTREPRENEURS NAVIGATE RESOURCES AVAILABLE TO START, RUN AND GROW BUSINESSES. HIGHLIGHTING THE ABUNDANCE OF RESOURCES AVAILABLE TO ENTREPRENEURS, IN A SINGLE PLATFORM, WHILE KEEPING THOSE RESOURCES PERPETUALLY UP TO DATE, SAVES ENTREPRENEURS PRECIOUS TIME, ALLOWING THEM TO FOCUS ON THE FUNDAMENTALS OF GROWING THEIR BUSINESSES. THE PLATFORM ALSO PROVIDES USEFUL DATA AND INSIGHT INTO THE MOST SOUGHT AFTER AND LEVERAGED RESOURCES IN THE SMALL BUSINESS ECOSYSTEM. 226508 154555 SCALE UP CLT IS A BUSINESS ACCELERATOR FOCUSED ON HELPING ENTREPRENEURS WITH BUSINESSES BETWEEN $250,000 AND $999,999 IN REVENUE, EXCEED $1,000,000. ENTERING OUR SIXTH COHORT, OVER 26% OF SCALE UP CLT PARTICIPANTS HAVE GROWN THEIR BUSINESSES BEYOND $1,000,000, AS COMPARED TO UNDER 4% OF ALL BUSINESSES NATIONALLY. ADDITIONALLY, PARTICIPANTS HAVE SEEN AN AVERAGE YEAR OVER YEAR REVENUE GROWTH OF 33%. 223192 212500 TATE AWARDS NAMED IN HONOR OF THADDEUS TATE, A TRAILBLAZING BUSINESSMAN IN CHARLOTTE IN THE 1900'S, THIS ANNUAL AWARDS CEREMONY RECOGNIZES AND CELEBRATES OUTSTANDING BUSINESS AND BUSINESS LEADERS WHO HAVE MADE SIGNIFICANT CONTRIBUTIONS TO OUR COMMUNITY. 164475 181000 LEADERSHIP ACADEMY OF CHARLOTTE IS A 10 MONTH LEADERSHIP PROGRAM WHICH HAS GIVEN MORE THAN 300 LEADERS ACROSS THE NATION THE OPPORTUNITY TO ADVANCE THEIR CAREERS INTO SENIOR EXECUTIVE AND C-SUITE ROLES. EXECUTIVE LEADERS EXCEL IN THEIR PROFESSIONS AND GROW THEIR CAREERS. GUIDED BY A RESEARCH-BASED CURRICULUM, PARTICIPANTS GO THROUGH EXTENSIVE COACHING AND PERSONAL DEVELOPMENT. 81391 174757 DIGITAL MARKETPLACE FOR PURCHASING AND SUPPLIER ORGANIZATIONS: THE FOUNDATION HELPS INCREASE THE VISIBILITY OF MID-MARKET COMPANIES THAT ARE SEEKING TO OFFER CONTRACTING OPPORTUNITIES TO SMALL BUSINESSES. 51123 110978 ACE: ACCOUNTING FOR CHARLOTTE ENTREPRENEURS SUPPLEMENTS THE ONGOING NEED FOR ACCOUNTING, MARKETING AND LEGAL SERVICES, THE FOUNDATION WORKS IN PARTNERSHIP WITH ORGANIZATIONS WHICH PROVIDES SERVICES TO ENTREPRENEURS AND SMALL BUSINESS OWNERS. 520181 679235 1279012 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 16 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NC X JOAQUIN SORIA 7043781324 PO BOX 20103 CHARLOTTE NC 28202 KRISTERPHER SMITH DIRECTOR 1.00 X 0 0 0 BRYAN DELANEY DIRECTOR 1.00 X 0 0 0 DAVID HEAD DIRECTOR 1.00 X 0 0 0 REGINALD HENDERSON DIRECTOR 1.00 X 0 0 0 ALICE DAVIS DIRECTOR 1.00 X 0 0 0 CHERYL RICHARDS DIRECTOR 1.00 X 0 0 0 CHRISTOPHER MOXLEY CHAIRMAN 1.00 1.00 X X 0 0 0 NESHA PAI TREASURER 1.00 X X 0 0 0 JACK SANTANIELLO SECRETARY 1.00 X X 0 0 0 JANET LABAR DIRECTOR, EX-OFFICIO, THRU 2.23 1.00 40.00 X 0 483810 30459 NATHANIEL HOGAN PRESIDENT,CLT ALLIANCE FDTN BEG 2.23 40.00 1.00 X 0 189711 14863 TYWANDA BOLTON DIRECTOR OF SMALL BUSINESS & ENTREPRENEURSHIP 40.00 1.00 X 0 101834 11174 0 775355 56496 0 0 1 0 0 1735664 1735664 10013 10013 1745677 0 0 10013 X 596617 532585 18888 45144 647676 623770 23906 18792 15446 3346 62372 56138 6234 SUBSCRIPTIONS 59672 44178 15494 AUTO 4000 4000 TELEPHONE 2775 2775 MISCELLANEOUS 1275 120 1155 950 950 1394129 1279012 42794 72323 1004494 1158593 17500 713 0 1005207 1176093 22191 161529 325000 5000 347191 166529 X 489633 723857 168383 285707 658016 1009564 1005207 1176093 351548 0 X 0 1 X 0 0 X 301567 146022 302692 634369 1735664 3120314 301567 146022 302692 634369 1735664 3120314 899184 2221130 1471 10013 11484 3131798 0.70920 0.58670 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 1394129 1394129 214413 53603 0 0 11759 22221 83024 214413 331417 497126 0 2940 5555 20756 53603 82854 124281 0 X PART X, LINE 2: CLT ALLIANCE IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE (THE "CODE"). THE ORGANIZATION IS LIABLE FOR FEDERAL AND STATE TAXES ON ANY UNRELATED BUSINESS INCOME, AS DEFINED IN THE CODE. U.S. GAAP REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUBSTANTIATED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION, AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2023 AND 2022, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE COMBINED FINANCIAL STATEMENTS. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS IN PROGRESS FOR ANY TAX PERIODS. 0 0 0 0 0 0 0 0 0 JANET LABAR DIRECTOR, EX-OFFICIO, THRU 2.23 0 403310 0 75000 0 5500 0 26400 0 4059 0 514269 0 0 NATHANIEL HOGAN PRESIDENT,CLT ALLIANCE FDTN BEG 2.23 0 171306 0 14405 0 4000 0 12000 0 2863 0 204574 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE ALLIANCE'S CFO AND CEO. THE FORM 990 IS NEXT REVIEWED BY THE FOUNDATION'S BOARD OF DIRECTORS. THE FORM 990 IS FILED AFTER THE BOARD OF DIRECTORS COMPLETES ITS REVIEW. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, PRINCIPAL, OFFICER AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS SUCH PERSON: HAS RECEIVED A COPY OF THE CONFLICTS OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY, HAS AGREED TO COMPLY WITH THE POLICY, AND UNDERSTANDS THE ORGANIZATION IS A NON-PROFIT AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION, IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. WITH RESPECT TO ENFORCEMENT, EACH MEMBER HAS A DUTY TO DISCLOSE THE EXISTENCE OF A POSSIBLE CONFLICT OF INTEREST. ONCE A DISCLOSURE OF THE FACTS HAS BEEN MADE, THE PERSON WITH THE POTENTIAL CONFLICT MUST RECUSE THEMSELVES FROM THE MEETING. AT THIS POINT THE REMAINING MEMBERS SHALL VOTE ON WHETHER OR NOT AN ACTUAL CONFLICT EXISTS. IF IT IS DECIDED THAT A CONFLICT DOES EXIST, APPROPRIATE ACTIONS WILL BE TAKEN. FORM 990, PART VI, SECTION B, LINE 15 KEY PERSONNEL IN SUPPORT OF THE FOUNDATION ARE EMPLOYEES OF THE CHARLOTTE REGIONAL BUSINESS ALLIANCE ("THE ALLIANCE"), THE SUPPORTED ORGANIZATION, AND ARE SUBJECT TO COMPENSATION AND PERSONNEL POLICIES OF THE ALLIANCE. THE ALLIANCE CONSISTENTLY REVIEWS AND DOCUMENTS ITS COMPENSATION STRUCTURE TO ENSURE REASONABLENESS. FORM 990, PART VI, SECTION C, LINE 19 INFORMATION AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 623,770. MANAGEMENT AND GENERAL EXPENSES 23,906. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 647,676. CHARLOTTE REGIONAL BUSINESS ALLIANCE PO BOX 20103 CHARLOTTE NC 28202 560173610 ECONOMIC DEVELOPMENT AND BUSINESS ADVOCACY NC 501(C)(6) N/A N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0