2024-11-07T15:47:26-06:00 2023-12-31 570381582 ELLIOTT DAVIS LLCPLLC 500 EAST MOREHEAD STREET SUITE 700 CHARLOTTE NC 28202 990 2023-01-01 560173610 CHARLOTTE REGIONAL BUSINESS ALLIANCE CHAR 7043781324 PO BOX 20103 CHARLOTTE NC 28202 JOAQUIN SORIA CFO 7043781324 2024-11-06 1 1 JANICE A RATICA P00358837 7043338881 2024-11-06 2023 2024-10-15 13:58:12Z JOAQUIN SORIA PO BOX 20103 CHARLOTTE NC 28202 8689923 0 X WWW.CHARLOTTEREGION.COM X 1915 NC ADVANCE THE CHARLOTTE REGION TO CREATE OPPORTUNITY, ECONOMIC GROWTH, AND PROSPERITY FOR ALL. 75 75 39 164 0 0 0 0 7886875 8554330 24871 135593 102 0 7911848 8689923 0 0 0 0 4950713 4902745 0 0 0 4340278 4130642 9290991 9033387 -1379143 -343464 8771873 7844148 7156778 6572517 1615095 1271631 COLLABORATE TO PROMOTE AND ADVANCE THE CHARLOTTE REGION, CREATING OPPORTUNITY, ECONOMIC GROWN AND PROSPERITY FOR ALL. 0 0 THE ALLIANCE'S GUIDING PRINCIPLES ARE:(1) SERVING AS THE VOICE FOR THE BUSINESS COMMUNITY;(2) GROWING ECONOMIC DIVERSITY AND SUSTAINABILITY THROUGH DIRECT RECRUITMENT, RETENTION AND RE-DEVELOPMENT;(3) CREATING FERTILE GROUND AND COMMUNICATING A BUSINESS FRIENDLY ENVIRONMENT THAT ATTRACTS AND RETAINS NEW AND EMERGING BUSINESSES;(4) PROVIDING EDUCATIONAL, NETWORKING AND BUSINESS GROWTH OPPORTUNITIES FOR ALL MEMBERS; AND, (5) COLLABORATING OPENLY AND CLOSELY WITH INVESTORS AND BOARD LEADERSHIP, BUSINESS, COMMUNITY PARTNERS AND GOVERNMENT LEADERS. 0 0 0 1 0 0 0 0 0 1 0 0 1 1 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 1 0 0 1 35 0 1 39 1 0 0 0 0 0 0 0 0 X 75 75 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X JOAQUIN A SORIA 7043781324 330 SOUTH TRYON STREET CHARLOTTE NC 28202 JANET LABAR PRESIDENT & CEO 40.00 1.00 X 483810 0 30459 DANNY CHAVEZ CHIEF BUSINESS RECRUITMENT OFFICER 40.00 1.00 X 276914 0 29519 JOAQUIN SORIA CFO 40.00 2.00 X 250018 0 40698 KARI HACKETT CHIEF DEVELOPMENT & INVESTOR RELATIONS 40.00 0.00 X 246674 0 36740 ROBERT J HORTON CHIEF MARKETING OFFICER 40.00 0.00 X 251744 0 20970 JOSEPH BOST CHIEF ADVOCACY OFFICER 40.00 1.00 X 194079 0 47889 NATHANIEL HOGAN PRESIDENT, CLT ALLIANCE FOUNDATION 1.00 40.00 X 189711 0 14863 RANDY ALEXANDER TRUSTEE 1.00 X 0 0 0 OLIVER BADGIO TRUSTEE 1.00 X 0 0 0 STEVE BAGWELL TRUSTEE 1.00 X 0 0 0 TIM BAIER TRUSTEE 1.00 X 0 0 0 SETH BENNETT TRUSTEE 1.00 X 0 0 0 TARIQ BOKHARI TRUSTEE 1.00 X 0 0 0 JENN BOSSER TRUSTEE 1.00 X 0 0 0 GREG BOULANGER TRUSTEE 1.00 X 0 0 0 CHARLIS BROCK TRUSTEE 1.00 X 0 0 0 JAKE BURNS TRUSTEE 1.00 X 0 0 0 JOSH CHARLESWORTH TRUSTEE 1.00 X 0 0 0 DERICK CLOSE TRUSTEE 1.00 X 0 0 0 KRISTI COLEMAN TRUSTEE 1.00 X 0 0 0 MALCOMB COLEY TRUSTEE 1.00 X 0 0 0 KINNEIL COLTMAN TRUSTEE 1.00 X 0 0 0 ROD CRIDER TRUSTEE 1.00 X 0 0 0 BOJAN CUKIC TRUSTEE 1.00 X 0 0 0 KANDI DEITEMEYER TRUSTEE 1.00 X 0 0 0 DENA DIORIO TRUSTEE 1.00 X 0 0 0 BETTY DOSTER TRUSTEE 1.00 X 0 0 0 GEORGE DUNLAP TRUSTEE 1.00 X 0 0 0 SAAD EHTISHAM TRUSTEE 1.00 X 0 0 0 KATHLEEN EVANS TRUSTEE 1.00 X 0 0 0 TONI FARMER-THOMPSON TRUSTEE 1.00 X 0 0 0 LEE FITE TRUSTEE 1.00 X 0 0 0 JOE FOSTER TRUSTEE 1.00 X 0 0 0 CARLA FRENCH TRUSTEE 1.00 X 0 0 0 GERALDINE GARDNER TRUSTEE 1.00 X 0 0 0 ALBERTO GONZALEZ TRUSTEE 1.00 X 0 0 0 GEOFF GRAY TRUSTEE 1.00 X 0 0 0 BRETT GRAY TRUSTEE 1.00 X 0 0 0 CHRIS GREENE TRUSTEE 1.00 X 0 0 0 DENISE HALLETT TRUSTEE 1.00 X 0 0 0 KEVIN HART TRUSTEE 1.00 X 0 0 0 KEN HAYNES TRUSTEE 1.00 X 0 0 0 DAVID HEAD TRUSTEE 1.00 X 0 0 0 REGINALD HENDERSON TRUSTEE 1.00 X 0 0 0 THOMAS HERTLEIN TRUSTEE 1.00 X 0 0 0 DONNY HICKS TRUSTEE 1.00 X 0 0 0 MELISSA HLAVAC TRUSTEE 1.00 X 0 0 0 WATTS HUCKABEE TRUSTEE 1.00 X 0 0 0 JULIE JANSON TRUSTEE 1.00 X 0 0 0 PAT JONES TRUSTEE 1.00 X 0 0 0 MARCUS JONES TRUSTEE 1.00 X 0 0 0 JENNA KELLY TRUSTEE 1.00 X 0 0 0 DANA KILLIAN TRUSTEE 1.00 X 0 0 0 VALERIE KINLOCH TRUSTEE 1.00 X 0 0 0 JEFF LEDFORD TRUSTEE 1.00 X 0 0 0 DAVID LEE TRUSTEE 1.00 X 0 0 0 CYNTHIA LIMA TRUSTEE 1.00 X 0 0 0 CAROL LOVIN TRUSTEE 1.00 X 0 0 0 DANIEL LUGO TRUSTEE 1.00 X 0 0 0 MARINA LVOVICH TRUSTEE 1.00 X 0 0 0 KAREN MATTIMORE TRUSTEE 1.00 X 0 0 0 ERIC MAUNTEL TRUSTEE 1.00 X 0 0 0 MARISSA MICHAELS TRUSTEE 1.00 X 0 0 0 TRACY MONTROSS TRUSTEE 1.00 X 0 0 0 CHRISTOPHER MOXLEY TRUSTEE 1.00 X 0 0 0 AMY MURPHY CURLIS TRUSTEE 1.00 X 0 0 0 DIANNE NEURAUTER TRUSTEE 1.00 X 0 0 0 DEWEY NORWOOD JR TRUSTEE 1.00 X 0 0 0 ZACH PANNIER TRUSTEE 1.00 X 0 0 0 CHRIS PATERSON TRUSTEE 1.00 X 0 0 0 BEN PICKETT TRUSTEE 1.00 X 0 0 0 EMILY PILLARS TRUSTEE 1.00 X 0 0 0 WALTER PRICE TRUSTEE 1.00 X 0 0 0 KERR PUTNEY TRUSTEE 1.00 X 0 0 0 ABBEY RAMPY TRUSTEE 1.00 X 0 0 0 MIKE RIZER TRUSTEE 1.00 X 0 0 0 PATRICIA RODGERS TRUSTEE 1.00 X 0 0 0 JULIE ROPER TRUSTEE 1.00 X 0 0 0 CARRIE RUDDY TRUSTEE 1.00 X 0 0 0 JUSTIN RUTLEDGE TRUSTEE 1.00 X 0 0 0 ALAN SAUBER TRUSTEE 1.00 X 0 0 0 BROOKE SENTER TRUSTEE 1.00 X 0 0 0 HUNTER SHULL TRUSTEE 1.00 X 0 0 0 ADAM SHUMATE TRUSTEE 1.00 X 0 0 0 KRISTERPHER SMITH TRUSTEE 1.00 X 0 0 0 DAVID SMITH TRUSTEE 1.00 X 0 0 0 MICHAEL SMITH TRUSTEE 1.00 X 0 0 0 BRANDON SPEARS TRUSTEE 1.00 X 0 0 0 MIKE TANKSLEY TRUSTEE 1.00 X 0 0 0 BEN TARIO TRUSTEE 1.00 X 0 0 0 BRENT TOLLISON TRUSTEE 1.00 X 0 0 0 SOLANGE TRICANOWICZ TRUSTEE 1.00 X 0 0 0 JENNIFER TROYER TRUSTEE 1.00 X 0 0 0 LAURA ULLRICH TRUSTEE 1.00 X 0 0 0 GREG WALTER TRUSTEE 1.00 X 0 0 0 MARTHA WEGNER TRUSTEE 1.00 X 0 0 0 SASHA WEINTRAUB TRUSTEE 1.00 X 0 0 0 FRED WHITFIELD TRUSTEE 1.00 X 0 0 0 LAURA YATES CLARK TRUSTEE 1.00 X 0 0 0 TEROSS YOUNG TRUSTEE 1.00 X 0 0 0 ALISON SUMMERVILLE CHAIR 5.00 1.00 X X 0 0 0 SHALANNA PIRTLE SECRETARY & GENERAL COUNSEL 3.00 1.00 X X 0 0 0 KIETH COCKRELL IMMEDIATE PAST CHAIR 2.00 X X 0 0 0 JOHN GIANNUZZI TREASURER 2.00 1.00 X X 0 0 0 DAVID LONGO 1ST VICE CHAIR 2.00 X X 0 0 0 DAVE KATZ 2ND VICE CHAIR 2.00 X X 0 0 0 1892950 0 221138 16 0 1 0 WRAY WARD 2317 THRIFT ROAD CHARLOTTE NC 28208 ADVERTISING 686725 330 TRYON DE LLC PO BOX 948896 ATLANTA GA 30394 RENT 613744 2 MEMBERSHIP DUES 900099 7507518 7507518 PROJECT REVENUE 900099 1024545 1024545 SPONSORSHIP REVENUE 900099 22267 22267 8554330 135593 135593 8689923 8554330 0 135593 485340 3502687 301476 613242 107378 683728 792434 184840 554309 598712 3894 217029 EVENT EXPENSE 349055 DUES & SUBSCRIPTIONS 312008 EQUIPMENT LEASE 109473 MISC EXPENSE 57875 159907 9033387 1838392 1898202 1830509 1664935 959190 409261 21025 147053 119377 175459 3861821 2684230 1381597 1177591 2621783 2371647 8771873 7844148 628160 601858 2973424 2722295 3555194 3248364 7156778 6572517 X 1615095 1271631 1615095 1271631 8771873 7844148 -343464 0 X 0 1 X 1 0 0 0 0 7507518 66072 66072 0 66072 2890780 1723140 1167640 578929 568978 9951 392112 392112 0 1177591 ROU ASSET 2371647 2371647 ACCRUED POST-RETIREMENT BENEFIT COSTS 408093 LEASE LIABILITY 2840271 3248364 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. X X X X 1 0 0 JANET LABAR PRESIDENT & CEO 403310 0 75000 0 5500 0 26400 0 4059 0 514269 0 0 0 DANNY CHAVEZ CHIEF BUSINESS RECRUITMENT OFFICER 252114 0 20000 0 4800 0 18320 0 11199 0 306433 0 0 0 JOAQUIN SORIA CFO 219218 0 26000 0 4800 0 19920 0 20778 0 290716 0 0 0 KARI HACKETT CHIEF DEVELOPMENT & INVESTOR RELATIO 215874 0 26000 0 4800 0 18880 0 17860 0 283414 0 0 0 ROBERT J HORTON CHIEF MARKETING OFFICER 219944 0 27000 0 4800 0 19600 0 1370 0 272714 0 0 0 JOSEPH BOST CHIEF ADVOCACY OFFICER 174679 0 15000 0 4400 0 16000 0 31889 0 241968 0 0 0 NATHANIEL HOGAN PRESIDENT, CLT ALLIANCE FOUNDATION 171306 0 14405 0 4000 0 12000 0 2863 0 204574 0 0 0 PART I, LINE 4A DANNY CHAVEZ, CHIEF BUSINESS RECRUITMENT OFFICER WAS PAID SEVERANCE IN THE AMOUNT OF $34,667. FORM 990, PART VI, SECTION A, LINE 6 THE CHARLOTTE ORGANIZATION'S MEMBERS EACH HAVE THE RIGHT TO ELECT THE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER OF THE ORGANIZATION HAS THE RIGHT TO ELECT THE MEMBERS OF THE GOVERNING BODY OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE VP OF ACCOUNTING, CFO AND CEO, OF THE ORGANIZATION. UPON THEIR APPROVAL, THE 990 IS REVIEWED BY THE EXECUTIVE COMMITTEE AND THEN BY THE BOARD OF TRUSTEES. THE 990 IS FILED AFTER THE BOARD COMPLETES ITS REVIEW. FORM 990, PART VI, SECTION B, LINE 12C EACH TRUSTEE, 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 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 IN JANUARY OF EACH YEAR, THE ORGANIZATION'S CHAIR, THE EXECUTIVE COMMITTEE, AND THE BOARD OF TRUSTEES REVIEW THE ORGANIZATION'S PROGRAM OF WORK FOR THE COMING YEAR. THE CEO'S PERFORMANCE IS BASED UPON THE ACHIEVEMENT OF KEY OBJECTIVES WHICH HAVE BEEN ASSIGNED RELATIVE VALUE. THE STATUS OF THESE KEY OBJECTIVES ARE PRESENTED TO THE EXECUTIVE COMMITTEE MONTHLY. AT THE END OF THE YEAR, THE CURRENT CHAIRPERSON AND CEO ASSESS ACHIEVEMENT OF THESE OBJECTIVES ON THE CEO'S PERFORMANCE REVIEW FORM. THE COMPENSATION COMMITTEE CONSISTS OF CURRENT CHAIR, IMMEDIATE PAST CHAIR, CHAIR-ELECT, COUNSEL AND TREASURER. THE COMMITTEE IS SUPPORTED BY THE ORGANIZATION'S CFO. AT THE END OF THE CALENDAR YEAR, THE COMPENSATION COMMITTEE REVIEWS THE FOLLOWING FOR THE CEO PERFORMANCE EVALUATION: CEO PERFORMANCE REVIEW BASED ON OBJECTIVES DISCUSSED ABOVE, A COMPENSATION HISTORY SPREADSHEET, A BENEFITS AND TOTAL COMPENSATION EXPLANATION, CEO COMPENSATION COMPARABLE FROM OTHER LOCAL NON-PROFITS, CEO COMPENSATION COMPARABLE FROM OTHER REGIONAL BUSINESS ALLIANCES AND MINUTES FROM THE MOST RECENT COMPENSATION COMMITTEE MEETINGS. UPON DETERMINING TOTAL CEO COMPENSATION (INCLUDING SALARY, BONUS, AND BENEFIT ADJUSTMENTS), THE COMPENSATION COMMITTEE SUBMITS ITS PROPOSAL TO THE EXECUTIVE COMMITTEE FOR APPROVAL. COMPENSATION FOR OFFICERS AND KEY EMPLOYEES IS DETERMINED ANNUALLY BASED ON PERFORMANCE MARKET INDICATORS. THESE KEY POSITIONS ARE REVIEWED ANNUALLY IN JANUARY, AND THIS IS WHEN OBJECTIVES AND GOALS ARE DETERMINED FOR THE NEXT YEAR. THESE ANNUAL OBJECTIVES AND GOALS ARE FORMALLY REVIEWED AFTER SIX MONTHS, UNLESS THERE IS A SIGNIFICANT CHANGE IN JOB RESPONSIBILITIES OR COMPENSATION REFLECTED BY PERFORMANCE MARKET INDICATORS. COMPENSATION FOR THESE KEY POSITIONS ARE SUBJECT TO THE SAME BUDGETARY GUIDELINES AS THE REST OF THE STAFF. BONUSES AND INCENTIVE COMPENSATION FOR NON-CEO EMPLOYEES IS BASED ON ACHIEVEMENT OF BOTH ORGANIZATIONAL AND INDIVIDUAL OBJECTIVES AND THE DISCRETION OF THE CEO. THE PRESIDENT & CEO RECOMMENDS TOTAL COMPENSATION FOR THE SENIOR LEADERSHIP TEAM TO THE COMMITTEE FOR APPROVAL. THE COMMITTEE REVIEWS RECOMMENDATIONS FOR THE SENIOR LEADERSHIP TEAM INDIVIDUALLY. THE COMPENSATION COMMITTEE APPROVES THE TOTAL ANNUAL BONUS POOL. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AVAILABLE TO THE GENERAL PUBLIC. THE ORGANIZATION'S BYLAWS, PUBLIC POLICY, STRATEGIC PLAN AND THE BOARD OF TRUSTEES LIST ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. CHARLOTTE REGIONAL BUSINESS ALLIANCE FOUNDATION PO BOX 20103 CHARLOTTE NC 28202 562227354 EDUCATION, TALENT, AND COMMUNITY DEVELOPMENT NC 501(C)(3) LINE 7 N/A 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 1