2022-11-15T12:57:03-06:00 2021-12-31 560574444 CHERRY BEKAERT LLP 1111 METROPOLITAN AVE STE 900 CHARLOTTE NC 28204 990 2021-01-01 560173610 CHARLOTTE REGIONAL BUSINESS ALLIANCE CHAR 7043781324 PO BOX 20103 CHARLOTTE NC 282020027 JANET M LABAR CEO 7043781324 2022-10-07 1 JANET LABAR 999009999 AMANDA ADAMS P00748038 7043771678 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z JANET M LABAR PO BOX 20103 CHARLOTTE NC 282020027 7941534 0 X WWW.CHARLOTTEREGION.COM X 1915 NC ADVANCE THE CHARLOTTE REGION TO CREATE OPPORTUNITY, ECONOMIC GROWTH AND PROSPERITY FOR ALL. 112 112 42 133 8744 4967 473226 1585730 6742648 6347465 6706 2385 60976 5954 7283556 7941534 0 0 0 0 4650637 4238722 0 0 0 2752355 3239116 7402992 7477838 -119436 463696 5648367 7391454 3117825 4397216 2530542 2994238 WE ENTHUSIASTICALLY COLLABORATE TO PROMOTE AND ADVANCE THE CHARLOTTE REGION, CREATING OPPORTUNITY, ECONOMIC GROWTH 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. THERE WERE 930 MEMBERS IN 2021. 0 0 0 1 0 0 0 0 0 1 0 0 0 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 33 0 1 42 1 1 1 0 0 0 0 0 0 0 X 112 112 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 MALCOMB COLEY BOARD CHAIR 1.00 0.00 X X 0 0 0 KIETH COCKRELL VICE CHAIR 1.00 1.00 X X 0 0 0 CAROL LOVIN IMMEDIATE PAST CHAIR 1.00 0.00 X X 0 0 0 LUIS LLUBERAS BOARD SECRETARY 1.00 1.00 X X 0 0 0 JOE PARADISE TREASURER 1.00 0.00 X X 0 0 0 CLARENCE ARMBRISTER TRUSTEE 1.00 0.00 X 0 0 0 HEATH CAMPBELL TRUSTEE 1.00 0.00 X 0 0 0 DERICK CLOSE TRUSTEE 1.00 0.00 X 0 0 0 ROD CRIDER TRUSTEE 1.00 0.00 X 0 0 0 JESSE CURETON TRUSTEE 1.00 0.00 X 0 0 0 KANDI DEITEMEYER TRUSTEE 1.00 1.00 X 0 0 0 DENA DIORIO TRUSTEE 1.00 0.00 X 0 0 0 KATHLEEN EVANS TRUSTEE 1.00 0.00 X 0 0 0 DANIELLE FRAZIER TRUSTEE 1.00 0.00 X 0 0 0 TOM GLICK TRUSTEE 1.00 0.00 X 0 0 0 GEOFF GRAY TRUSTEE 1.00 0.00 X 0 0 0 MARCELA HAWN TRUSTEE 1.00 0.00 X 0 0 0 DAVID HEAD TRUSTEE 1.00 4.00 X 0 0 0 REGINALD HENDERSON TRUSTEE 1.00 1.00 X 0 0 0 DONNY HICKS TRUSTEE 1.00 0.00 X 0 0 0 JULIE JANSON TRUSTEE 1.00 0.00 X 0 0 0 PAT JONES TRUSTEE 1.00 0.00 X 0 0 0 MARCUS JONES TRUSTEE 1.00 0.00 X 0 0 0 DAVE KATZ TRUSTEE 1.00 0.00 X 0 0 0 DAVID LONGO TRUSTEE 1.00 0.00 X 0 0 0 DANIEL LUGO TRUSTEE 1.00 0.00 X 0 0 0 KAREN MATTIMORE TRUSTEE 1.00 0.00 X 0 0 0 SCOTT MILLAR TRUSTEE 1.00 0.00 X 0 0 0 TRACY MONTROSS TRUSTEE 1.00 0.00 X 0 0 0 CHRISTOPHER MOXLEY TRUSTEE 1.00 0.00 X 0 0 0 ALAN SAUBER TRUSTEE 1.00 0.00 X 0 0 0 HUNTER SHULL TRUSTEE 1.00 0.00 X 0 0 0 KRISTERPHER J SMITH TRUSTEE 1.00 0.00 X 0 0 0 ALI SUMMERVILLE TRUSTEE 1.00 0.00 X 0 0 0 MIKE TANKSLEY TRUSTEE 1.00 0.00 X 0 0 0 JENNIFER TROYER TRUSTEE 1.00 0.00 X 0 0 0 LAURA ULLRICH TRUSTEE 1.00 0.00 X 0 0 0 FRED WHITFIELD TRUSTEE 1.00 0.00 X 0 0 0 TEROSS YOUNG TRUSTEE 1.00 0.00 X 0 0 0 MELISSA CRONIN TRUSTEE 1.00 0.00 X 0 0 0 RON PAYNE TRUSTEE 1.00 0.00 X 0 0 0 JENNIFER WEBER TRUSTEE 1.00 0.00 X 0 0 0 BANKS WILSON TRUSTEE 1.00 0.00 X 0 0 0 SETH BENNETT TRUSTEE 1.00 0.00 X 0 0 0 KRISTEN BLANCHARD TRUSTEE 1.00 0.00 X 0 0 0 GREG BOULANGER TRUSTEE 1.00 0.00 X 0 0 0 CHARLES BOWMAN TRUSTEE 1.00 0.00 X 0 0 0 ROBERT BROWNE TRUSTEE 1.00 0.00 X 0 0 0 VANCE DALTON JR TRUSTEE 1.00 0.00 X 0 0 0 BETTY DOSTER TRUSTEE 1.00 0.00 X 0 0 0 LEE FITE TRUSTEE 1.00 0.00 X 0 0 0 DENISE HALLETT TRUSTEE 1.00 0.00 X 0 0 0 JOEL HAMILTON TRUSTEE 1.00 0.00 X 0 0 0 KEN HAYNES TRUSTEE 1.00 0.00 X 0 0 0 THOMAS HERTLEIN TRUSTEE 1.00 0.00 X 0 0 0 DOUG IRMSCHER TRUSTEE 1.00 0.00 X 0 0 0 FRED KLEIN TRUSTEE 1.00 0.00 X 0 0 0 JEFF LEDFORD TRUSTEE 1.00 0.00 X 0 0 0 ERIC LLOYD TRUSTEE 1.00 0.00 X 0 0 0 RALPH LOPEZ TRUSTEE 1.00 0.00 X 0 0 0 MARINA LVOVICH TRUSTEE 1.00 0.00 X 0 0 0 ERIC MAUNTEL TRUSTEE 1.00 0.00 X 0 0 0 ROBERT MCCUTCHEON TRUSTEE 1.00 0.00 X 0 0 0 ROBERT MILLER TRUSTEE 1.00 0.00 X 0 0 0 LAURA MOORE TRUSTEE 1.00 0.00 X 0 0 0 TOM MURRAY TRUSTEE 1.00 0.00 X 0 0 0 DIANNE NEURAUTER TRUSTEE 1.00 0.00 X 0 0 0 DEWEY NORWOOD JR TRUSTEE 1.00 0.00 X 0 0 0 KIM PHILLIPS TRUSTEE 1.00 0.00 X 0 0 0 DREW PORCELLO TRUSTEE 1.00 0.00 X 0 0 0 CRAWFORD POUNDS TRUSTEE 1.00 0.00 X 0 0 0 LINDSAY POWERS TRUSTEE 1.00 0.00 X 0 0 0 WALTER PRICE TRUSTEE 1.00 0.00 X 0 0 0 KERR PUTNEY TRUSTEE 1.00 0.00 X 0 0 0 JOHN REID TRUSTEE 1.00 0.00 X 0 0 0 MIKE RIZER TRUSTEE 1.00 0.00 X 0 0 0 PATRICIA RODGERS TRUSTEE 1.00 0.00 X 0 0 0 JOHN SELL TRUSTEE 1.00 0.00 X 0 0 0 BROOKE SENTER TRUSTEE 1.00 0.00 X 0 0 0 DONNY SIMMONS TRUSTEE 1.00 0.00 X 0 0 0 BRANDON SINK TRUSTEE 1.00 0.00 X 0 0 0 DAVID SMITH TRUSTEE 1.00 0.00 X 0 0 0 BRENT TOLLISON TRUSTEE 1.00 0.00 X 0 0 0 GREG WALTER TRUSTEE 1.00 0.00 X 0 0 0 MARTHA WEGNER TRUSTEE 1.00 0.00 X 0 0 0 SASHA WEINTRAUB TRUSTEE 1.00 0.00 X 0 0 0 TAMMY WHALEY TRUSTEE 1.00 0.00 X 0 0 0 JUDY WISHNEK TRUSTEE 1.00 0.00 X 0 0 0 ANGELA YOCHEM TRUSTEE 1.00 0.00 X 0 0 0 BRYAN DELANEY TRUSTEE 1.00 0.00 X 0 0 0 STEVEN FISHER TRUSTEE 1.00 0.00 X 0 0 0 NANCY MCNELIS TRUSTEE 1.00 0.00 X 0 0 0 AMANDA PICKENS NITTO TRUSTEE 1.00 0.00 X 0 0 0 KATHY WHOLLEY TRUSTEE 1.00 0.00 X 0 0 0 TARIQ BOKHARI TRUSTEE 1.00 0.00 X 0 0 0 ELYSE DASHEW TRUSTEE 1.00 0.00 X 0 0 0 GEORGE DUNLAP TRUSTEE 1.00 0.00 X 0 0 0 MICHAEL SMITH TRUSTEE 1.00 0.00 X 0 0 0 LAURA YATES CLARK TRUSTEE 1.00 0.00 X 0 0 0 ROBERT CHESNEY TRUSTEE 1.00 0.00 X 0 0 0 JEANNINE DODSON TRUSTEE 1.00 0.00 X 0 0 0 MATTHEW DORAN TRUSTEE 1.00 0.00 X 0 0 0 DEEPAL ELIATAMBY TRUSTEE 1.00 0.00 X 0 0 0 RUSS FERGUSON TRUSTEE 1.00 0.00 X 0 0 0 GERALDINE GARDNER TRUSTEE 1.00 0.00 X 0 0 0 KEITH GIDDENS TRUSTEE 1.00 0.00 X 0 0 0 MITCHELL HOBBS TRUSTEE 1.00 0.00 X 0 0 0 HEATH JENKINS TRUSTEE 1.00 0.00 X 0 0 0 RICK LYKE TRUSTEE 1.00 0.00 X 0 0 0 PAT ORMAN TRUSTEE 1.00 0.00 X 0 0 0 ALISON SUMMERVILLE TRUSTEE 1.00 0.00 X 0 0 0 DAVID SWENSON TRUSTEE 1.00 0.00 X 0 0 0 JANET M LABAR PRESIDENT & CEO 40.00 1.00 X 336428 0 25758 JOAQUIN A SORIA CFO 40.00 2.00 X 199282 0 35576 KARI G HACKETT CHIEF DEV & INVE REL OFFICER 40.00 0.00 X 194873 0 24267 ROBERT J HORTON CHIEF MARKETING OFFICER 40.00 0.00 X 175847 0 45990 KELLY A O'BRIEN CHIEF ADVOCACY & STRAT OFFICER 40.00 1.00 X 182397 0 21295 KATI HYNES VP BUSINESS RECRUITMENT 40.00 0.00 X 142210 0 24808 CHUNFANG CAI VP BUSINESS RECRUITMENT 40.00 0.00 X 115779 0 19506 1346816 0 197200 10 0 1 0 WRAY WARD 2317 THRIFT ROAD CHARLOTTE NC 28208 MARKETING 708061 1 1585730 1585730 MEMBERSHIP DUES 900099 4406339 4406339 PROJECT REVENUE 900099 1911126 1902382 8744 SPONSORSHIP REVENUE 900099 30000 30000 6347465 2385 2385 5954 5954 5954 7941534 6338721 8744 8339 597043 2933543 186293 301924 219919 52068 554117 962375 594795 539499 206637 11778 266598 UBI TAX 12704 38545 7477838 574705 1980212 2319834 3073682 183767 489533 538212 10702 159185 211741 3862081 2248497 1860664 1613584 12000 12000 5648367 7391454 177641 549697 1671173 2613787 150000 150000 1119011 1083732 3117825 4397216 X 2065960 2971989 464582 22249 2530542 2994238 5648367 7391454 463696 0 X 0 1 X 1 0 0 0 0 4406339 57344 57344 0 57344 2890780 1322806 1567974 579189 557255 21934 392112 368436 23676 1613584 ACCRUED OFFICE RENT 421370 DEFERRED LEASE INCENTIVES 103301 ACCRUED POST-RETIREMENT BENEFIT COSTS 559061 1083732 X 8244226 302692 302692 7941534 0 7941534 7591259 113421 113421 7477838 0 7477838 PART X, LINE 2: UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE ("IRC"), THE CLT ALLIANCE IS EXEMPT FROM FEDERAL INCOME TAX ON ALL INCOME EXCEPT UNRELATED BUSINESS INCOME AS NOTED UNDER SECTION 511 OF THE IRC. IRC SECTION 513(A) DEFINES AN UNRELATED TRADE OR BUSINESS OF AN EXEMPT ORGANIZATION AS ANY TRADE OR BUSINESS WHICH IS NOT SUBSTANTIALLY RELATED TO THE EXERCISE OR PERFORMANCE OF ITS EXEMPT PURPOSE. THE CLT ALLIANCE ACCOUNTS FOR TAX UNCERTAINTIES BASED ON A MORE LIKELY THAN NOT RECOGNITION THRESHOLD. THE CLT ALLIANCE HAS EVALUATED ALL ITS TAX POSITIONS AND DETERMINED THAT IT HAD NO UNCERTAIN INCOME TAX POSITIONS AS OF DECEMBER 31, 2021 OR 2020. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUE OF AFFILIATE 302,692. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES OF AFFILIATE 113,421. X X X X 0 0 0 JANET M LABAR PRESIDENT & CEO 329540 0 0 0 6888 0 23200 0 2558 0 362186 0 0 0 JOAQUIN A SORIA CFO 194482 0 0 0 4800 0 15959 0 19617 0 234858 0 0 0 ROBERT J HORTON CHIEF MARKETING OFFICER 171047 0 0 0 4800 0 13620 0 32370 0 221837 0 0 0 KARI G HACKETT CHIEF DEV & INVE REL OFFICER 187973 0 2500 0 4400 0 13333 0 10934 0 219140 0 0 0 KELLY A O'BRIEN CHIEF ADVOCACY & STRAT OFFICER 177952 0 445 0 4000 0 12900 0 8395 0 203692 0 0 0 KATI HYNES VP BUSINESS RECRUITMENT 142210 0 0 0 0 0 11599 0 13209 0 167018 0 0 0 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 PREPARED BY THE ORGANIZATION'S INDEPENDENT ACCOUNTANTS AND REVIEWED BY THE VP OF ACCOUNTING, CFO AND CEO OF THE ORGANIZATION. UPON APPROVAL BY THE CEO, CFO AND VP OF ACCOUNTING, THE 990 IS NEXT 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 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 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 ACHIEVEMENT OF THESE 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, GENERAL 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 COMPARABLES FROM OTHER LOCAL NON-PROFITS, CEO COMPENSATION COMPARABLES 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 TOTAL ANNUAL BONUS POOL IS APPROVED BY THE COMPENSATION COMMITTEE. IN APRIL OF 2021, ONE DIGITAL HUMAN RESOURCE CONSULTING WAS ENGAGED BY THE CHARLOTTE REGIONAL BUSINESS ALLIANCE TO PROVIDE COMPENSATION CONSULTING SERVICES TO INCLUDE: 1. MARKET PRICING ANALYSIS; 2. DEI PAY EQUITY ANALYSIS; AND 3. DEVELOPMENT OF SALARY STRUCTURES. THIS STUDY INCLUDED ALL POSITIONS WITHIN THE ORGANIZATION WITH THE EXCEPTION OF THE CEO. 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 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 1