CHARLOTTE HORNETS FOUNDATION INC: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- CHARLOTTE HORNETS FOUNDATION INC (EIN 20-0946449)
- Tax period
- 2023-10-01 to 2024-09-30
- Filed
- 2025-08-13
- IRS object ID
- 202522259349300142
- Schema version
- 2023v6.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule G
- Schedule I
- Schedule J
- Schedule M
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-08-13T10:17:25-05:00 | ReturnTs |
| Tax Period End | 2024-09-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 991856619 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GRANT THORNTON ADVISORS LLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1415 VANTAGE PARK DRIVE SUITE 500 | AddressLine1Txt |
| City | CHARLOTTE | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28203 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-10-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 200946449 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CHARLOTTE HORNETS FOUNDATION INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | CHAR | BusinessNameControlTxt |
| Phone | 7046889000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 333 EAST TRADE STREET | AddressLine1Txt |
| City | CHARLOTTE | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28202 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JAMES H DUNLEVY | PersonNm |
| Person Title | TREASURER | PersonTitleTxt |
| Phone | 7046889000 | PhoneNum |
| Signature | 2025-08-12 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | MICHELE N MELCHIOR | PreparerPersonNm |
| PTIN | P00488037 | PTIN |
| Phone | 7046323500 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | JAMES H DUNLEVY CPA | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 333 EAST TRADE STREET | AddressLine1Txt |
| City | CHARLOTTE | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28202 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $1,115,654 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.NBA.COM/HORNETS/FOUNDATION | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2004 | FormationYr |
| Legal Domicile State | NC | LegalDomicileStateCd |
| Activity Or Mission | THE FOUNDATION SUPPORTS THE ENRICHMENT OF THOSE IN NEED, ESPECIALLY (CONTINUED IN SCH O) CHILDREN, IN THE CHARLOTTE AREA THROUGH COMMUNITY OUTREACH AND SUPPORTING OTHER ORGS WITH SIMILAR GOALS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 6 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 0 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 40 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $1,551,076 | PYContributionsGrantsAmt |
| CY Contributions Grants | $857,309 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $37,596 | PYInvestmentIncomeAmt |
| CY Investment Income | $75,561 | CYInvestmentIncomeAmt |
| PY Other Revenue | -$242,487 | PYOtherRevenueAmt |
| CY Other Revenue | -$277,621 | CYOtherRevenueAmt |
| PY Total Revenue | $1,346,185 | PYTotalRevenueAmt |
| CY Total Revenue | $655,249 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $387,625 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $1,256,187 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $0 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $0 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $3,010 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $11,669 | PYOtherExpensesAmt |
| CY Other Expenses | $10,471 | CYOtherExpensesAmt |
| PY Total Expenses | $399,294 | PYTotalExpensesAmt |
| CY Total Expenses | $1,266,658 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $946,891 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$611,409 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $1,909,998 | TotalAssetsBOYAmt |
| Total Assets EOY | $1,592,532 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $316,561 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $610,504 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $1,593,437 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $982,028 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | THROUGH THE INVESTMENT OF TIME, TALENTS, AND TREASURE, THE CHARLOTTE HORNETS FOUNDATION WILL SUPPORT, PROMOTE, AND ENHANCE IMPORTANT COMMUNITY EFFORTS THAT ENRICH THE QUALITY OF LIFE FOR THOSE IN NEED, ESPECIALLY CHILDREN AND YOUTH (CONTINUED IN SCH O)IN THE CHARLOTTE AREA. THE FOUNDATION WILL SUPPORT ELIGIBLE 501(C)(3) ORGANIZATIONS THAT DELIVER PROGRAMS THAT IMPACT LITERACY AND EDUCATION, THE MILITARY, FITNESS AND WELLNESS, AND HUNGER, AND RUN PROGRAMS THAT HAVE THE SAME AIM. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $1,256,187 | ExpenseAmt |
| Grant | $1,256,187 | GrantAmt |
| Revenue | $0 | RevenueAmt |
| Desc | GENERALLY, THE FOUNDATION USED ITS RELATIONSHIP WITH THE PLAYERS, COACHES, AND MANAGEMENT OF THE CHARLOTTE HORNETS NBA TEAM AS A PLATFORM TO RAISE FUNDS AND DRIVE AWARENESS ABOUT THE IMPORTANCE OF EDUCATION, HEALTH AND FITNESS, MILITARY CARE AND HUNGER. GRANT MAKINGGRANT MAKING WAS THE FOUNDATION'S WAY OF DEMONSTRATING AND DISPLAYING THE FOUNDATION'S COMMITMENT TO THE PRIORITIES OF THE ORGANIZATION AND COMMUNITY IT SERVES. THE FOUNDATION USES ITS COMMUNITY CONTACTS TO IDENTIFY PROGRAMS THAT HAVE THE LARGEST IMPACT TO THE FOUNDATION'S MISSION. GRANTS TO THE FOUNDATION FOR THE CAROLINAS, THE MILITARY'S INDEPENDENCE FUND, THE ANGELS AND SPARROWS' (CONTINUED IN SCH O)FOOD ASSISTANCE PROGRAM, THE NEST ACADEMY, AND THE YMCA. | Desc |
| Total Program Service Expenses | $1,256,187 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | 0 | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | Yes (1) | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | Yes (1) | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 0 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | Yes (1) | QuidProQuoContributionsInd |
| Quid Pro Quo Contri Discl | Yes (1) | QuidProQuoContriDisclInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 6 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 0 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (1) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | 0 | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | NC | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | JAMES H DUNLEVY CPA | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 7046888933 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 333 EAST TRADE STREET | AddressLine1Txt |
| City | CHARLOTTE | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28202 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (11 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|---|
| MICHAEL JORDAN | |||||||
| DIRECTOR, CHAIRMAN (THRU 10/23) | 1.00 | 18.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| FRED WHITFIELD | |||||||
| DIR., VICE CHAIRMAN (THRU 10/23) | 1.00 | 39.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| RICK SCHNALL | |||||||
| DIR., CO-CHAIRPERSON (AS OF 10/23) | 1.00 | 0.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| GABE PLOTKIN | |||||||
| DIR., CO-CHAIRPERSON (AS OF 10/23) | 1.00 | 0.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| JAMES JORDAN | |||||||
| DIRECTOR, PRESIDENT | 1.00 | 39.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| JAMES H DUNLEVY | |||||||
| DIRECTOR, TREASURER | 2.00 | 38.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| AMY DAWSON | |||||||
| DIRECTOR (AS OF 10/23) | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| DAMIAN MILLS | |||||||
| DIRECTOR (AS OF 10/23) | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| MC BELK PILON | |||||||
| DIRECTOR | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| BETSY MACK | |||||||
| EXECUTIVE DIRECTOR | 40.00 | 0.00 | Yes (X) | $0 | $192,227 | $11,528 | |
| SHANNON GILLIGAN | |||||||
| SECRETARY (AS OF 10/23) | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $192,227 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $11,528 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| Fundraising | $564,750 | FundraisingAmt |
| All Other Contributions | $292,559 | AllOtherContributionsAmt |
| Noncash Contributions | $126,534 | NoncashContributionsAmt |
| Total Contributions | $857,309 | TotalContributionsAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $75,561 | TotalRevenueColumnAmt |
| Exclusion | $75,561 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $123,591 | FundraisingGrossIncomeAmt |
| Contri Rpt Fundraising Event | $564,750 | ContriRptFundraisingEventAmt |
| Fundraising Direct Expenses | $401,212 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$277,621 | TotalRevenueColumnAmt |
| Exclusion | -$277,621 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | $59,193 | GrossSalesOfInventoryAmt |
| Cost Of Goods Sold | $59,193 | CostOfGoodsSoldAmt |
Net Income Or Loss NetIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $655,249 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | -$202,060 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,246,187 | TotalAmt |
| Program Services | $1,246,187 | ProgramServicesAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,000 | TotalAmt |
| Program Services | $10,000 | ProgramServicesAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,461 | TotalAmt |
| Management And General | $7,461 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | MISCELLANEOUS EXPENSE | Desc |
| Total | $3,010 | TotalAmt |
| Fundraising | $3,010 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,266,658 | TotalAmt |
| Program Services | $1,256,187 | ProgramServicesAmt |
| Management And General | $7,461 | ManagementAndGeneralAmt |
| Fundraising | $3,010 | FundraisingAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,836,818 | BOYAmt |
| EOY | $1,517,207 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $73,180 | BOYAmt |
| EOY | $75,325 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,909,998 | BOYAmt |
| EOY | $1,592,532 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $50,311 | BOYAmt |
| EOY | $371,904 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $266,250 | BOYAmt |
| EOY | $238,600 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $316,561 | BOYAmt |
| EOY | $610,504 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,593,437 | BOYAmt |
| EOY | $982,028 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,593,437 | BOYAmt |
| EOY | $982,028 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,909,998 | BOYAmt |
| EOY | $1,592,532 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$611,409 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | 0 | FSAuditedInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Organization170 | Yes (X) | PublicOrganization170Ind |
Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $514,232 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $170,906 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $595,625 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $1,551,076 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $857,309 | CurrentTaxYearAmt |
| Total | $3,689,148 | TotalAmt |
Total Calendar Year170 TotalCalendarYear170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $514,232 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $170,906 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $595,625 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $1,551,076 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $857,309 | CurrentTaxYearAmt |
| Total | $3,689,148 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantial Contributors Tot | $413,851 | SubstantialContributorsTotAmt |
| Public Support Total170 | $3,275,297 | PublicSupportTotal170Amt |
Gross Investment Income170 GrossInvestmentIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $19,463 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $9 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $0 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $37,596 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $75,561 | CurrentTaxYearAmt |
| Total | $132,629 | TotalAmt |
Other Income170 OtherIncome170Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $72,019 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $3,165 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $131,954 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $216,096 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $182,784 | CurrentTaxYearAmt |
| Total | $606,018 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | $4,427,795 | TotalSupportAmt |
| Public Support CY170 | 0.73970 | PublicSupportCY170Pct |
| Public Support PY170 | 0.74280 | PublicSupportPY170Pct |
| Thirty Thr Pct Suprt Tests CY170 | Yes (X) | ThirtyThrPctSuprtTestsCY170Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: | FormAndLineReferenceDesc |
| Explanation | MISCELLANEOUS REVENUE - 2019 AMOUNT: $ 19. 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 44,590. 2022 AMOUNT: $ 38,106. 2023 AMOUNT: $ 59,193. EVENT REVENUE - 2019 AMOUNT: $ 72,000. 2020 AMOUNT: $ 3,165. 2021 AMOUNT: $ 87,364. 2022 AMOUNT: $ 177,990. 2023 AMOUNT: $ 123,591. | ExplanationTxt |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule G IRS990ScheduleG
Fundraising Event Information FundraisingEventInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Event1 | MY HERO GALA | Event1Nm |
| Gross Receipts Event1 | $688,341 | GrossReceiptsEvent1Amt |
| Charitable Contri Event1 | $564,750 | CharitableContriEvent1Amt |
| Gross Revenue Event1 | $123,591 | GrossRevenueEvent1Amt |
| Food And Beverage Event1 | $102,312 | FoodAndBeverageEvent1Amt |
| Other Direct Expenses Event1 | $298,900 | OtherDirectExpensesEvent1Amt |
| Gross Receipts Total | $688,341 | GrossReceiptsTotalAmt |
| Charitable Contributions Tot | $564,750 | CharitableContributionsTotAmt |
| Gross Revenue Total Events | $123,591 | GrossRevenueTotalEventsAmt |
| Food And Beverage Total Events | $102,312 | FoodAndBeverageTotalEventsAmt |
| Oth Direct Expnss Total Events | $298,900 | OthDirectExpnssTotalEventsAmt |
| Direct Expense Summary Events | $401,212 | DirectExpenseSummaryEventsAmt |
| Net Income Summary | -$277,621 | NetIncomeSummaryAmt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (15 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| CHARLOTTE MECKLENBURG SCHOOLS | ||||||||
| PO BOX 30035 | CHARLOTTE | NC | 28230 | 200258541 | 501(C)(3) | $500,000 | $0 | EDUCATION |
| CHILDREN OF FALLEN PATRIOTS FOUNDATION | ||||||||
| 1818 LIBRARY STREET | RESTON | VA | 20190 | 470902295 | 501(C)(3) | $100,000 | $0 | MILLITARY |
| LOCAL INITIATIVES SUPPORTS CORPORATION | ||||||||
| 28 LIBERTY STREET FLOOR 34 | NEW YORK | NY | 10005 | 133030229 | 501(C)(3) | $100,000 | $0 | HUNGER |
| THE JOHN CROSLAND SCHOOL | ||||||||
| 5146 PARKWAY PLAZA BLVD | CHARLOTTE | NC | 28217 | 561211583 | 501(C)(3) | $100,000 | $0 | EDUCATION |
| CARE RING | ||||||||
| 601 E FIFTH STREET SUITE 140 | CHARLOTTE | NC | 28202 | 560621073 | 501(C)(3) | $100,000 | $0 | WELLNESS |
| ISRAEL RELIEF FRIENDS OF UNITED HATZALAH | ||||||||
| 442 FIFTH AVE 1866 | NEW YORK | NY | 10018 | 113533002 | 501(C)(3) | $100,000 | $0 | DISASTER |
| FOUNDATION FOR THE CAROLINAS | ||||||||
| 2220 NORTH TRYON STREET | CHARLOTTE | NC | 28202 | 566047886 | 501(C)(3) | $50,000 | $0 | COMMUNITY DEVELOPMENT |
| BOYS AND GIRLS CLUB OF CABARRUS COUNTY | ||||||||
| 247 SPRING ST NW | CONCORD | NC | 28025 | 560577630 | 501(C)(3) | $15,247 | $0 | CHILDERN |
| MUGGSY BOGUES FOUNDATION | ||||||||
| PO BOX 1884 | MATTHEWS | NC | 28106 | 462043035 | 501(C)(3) | $15,000 | $0 | COMMUNITY DEVELOPMENT |
| MAKE A WISH FOUNDATION | ||||||||
| 6324 FAIRVIEW RD 500 | CHARLOTTE | NC | 28210 | 561492432 | 501(C)(3) | $10,000 | $0 | CHILDREN |
| JUNIOR ACHIEVEMENT | ||||||||
| 1701 N GRAHAM ST 100 | CHARLOTTE | NC | 28206 | 560672085 | 501(C)(3) | $10,000 | $0 | CHILDREN |
| VETERANS BRIDGE HOME | ||||||||
| 5260 PARKWAY PLAZA SUITE 110 | CHARLOTTE | NC | 28217 | 452350728 | 501(C)(3) | $10,000 | $0 | MILLITARY |
| SPEEDWAY CHILDREN'S CHARITY GALA | ||||||||
| 5555 CONCORD PARKWAY SOUTH 302 | CONCORD | NC | 28027 | 561331429 | 501(C)(3) | $10,000 | $0 | CHILDREN |
| CHARLOTTE MECKLENBURG POLICE FOUNDATION | ||||||||
| PO BOX 32084 | CHARLOTTE | NC | 28232 | 200422513 | 501(C)(3) | $10,000 | $0 | MILITARY |
| YMCA OF GREATER GREENSBORO TEEN ACHIEVERS | ||||||||
| 2630 E FLORIDA ST | GREENSBORO | NC | 27401 | 562543243 | 501(C)(3) | $10,000 | $0 | CHILDERN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 14 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | EDUCATIONAL SCHOLARSHIPS | GrantTypeTxt |
| Recipient | 1 | RecipientCnt |
| Cash Grant | $10,000 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE FOUNDATION HAS VARIOUS PROCEDURES IN PLACE FOR MONITORING THE USE OF GRANT FUNDS IN THE UNITED STATES. THESE PROCEDURES VARY DEPENDING ON THE ORGANIZATIONS. EXAMPLES OF HOW THE FOUNDATION MONITORS GRANTS INCLUDE BUT ARE NOT LIMITED TO: HAVING RECIPIENTS SIGN A LETTER OF UNDERSTANDING WITH RESPECT TO THE USE OF FUNDS, CONDUCTING FOLLOW-UP INTERVIEWS WITH THE PROGRAM DIRECTORS, AND REQUIRING VARIOUS GRANTEES TO PROVIDE THE FOUNDATION WITH REPORTS. THE FOUNDATION IDENTIFIES POTENTIAL SCHOLARSHIP CANDIDATES THROUGH ITS WORK WITH COMMUNITY ORGANIZATIONS. THE FOUNDATION MAINTAINS CONTINUOUS CONTACT WITH STUDENTS TO ENSURE ELIGIBILITY CRITERIA CONTINUE TO BE MET TO QUALIFY FOR FUNDING. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | BETSY MACK | PersonNm |
| Title | EXECUTIVE DIRECTOR | TitleTxt |
| Base Compensation Filing Org | $0 | BaseCompensationFilingOrgAmt |
| Compensation Based On Rltd Orgs | $161,391 | CompensationBasedOnRltdOrgsAmt |
| Bonus Filing Organization | $0 | BonusFilingOrganizationAmount |
| Bonus Related Organizations | $30,000 | BonusRelatedOrganizationsAmt |
| Other Compensation Filing Org | $0 | OtherCompensationFilingOrgAmt |
| Other Compensation Rltd Orgs | $836 | OtherCompensationRltdOrgsAmt |
| Deferred Compensation Flng Org | $0 | DeferredCompensationFlngOrgAmt |
| Deferred Comp Rltd Orgs | $4,533 | DeferredCompRltdOrgsAmt |
| Nontaxable Benefits Filing Org | $0 | NontaxableBenefitsFilingOrgAmt |
| Nontaxable Benefits Rltd Orgs | $6,995 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Filing Org | $0 | TotalCompensationFilingOrgAmt |
| Total Compensation Rltd Orgs | $203,755 | TotalCompensationRltdOrgsAmt |
| Comp Report Prior990 Filing Org | $0 | CompReportPrior990FilingOrgAmt |
| Comp Report Prior990 Rltd Orgs | $0 | CompReportPrior990RltdOrgsAmt |
Schedule M IRS990ScheduleM
Other Non Cash Contri Table OtherNonCashContriTableGrp (2 entries)
| Non Cash CheckboxNonCashCheckboxInd | DescDesc | ContributionContributionCnt | Noncash Contributions Rpt F990NoncashContributionsRptF990Amt | Method Of Determining RevenuesMethodOfDeterminingRevenuesTxt |
|---|---|---|---|---|
| Yes (X) | AUCTION ITEMS | 40 | $67,341 | FMV |
| Yes (X) | SPORTS MEMORABILIA | 40 | $59,193 | FMV |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | 0 | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | 0 | ThirdPartiesUsedInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 2 | THE CO-CHAIRPERSONS, PRESIDENT, EXECUTIVE DIRECTOR, TREASURER AND CHAIRMAN ALL HAVE BUSINESS RELATIONSHIPS. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE TREASURER COMPILES THE INFORMATION FOR THE TAX SERVICE PROVIDER, GRANT THORNTON ADVISORS LLC. GRANT THORNTON ADVISORS LLC, IN TURN, PREPARES THE RETURN AND REVIEWS IT WITH THE TREASURER. THE TREASURER TAKES THE RETURN TO THE FOUNDATION'S EXECUTIVE DIRECTOR AND PROVIDES THE NECESSARY EXPLANATIONS. THE EXECUTIVE DIRECTOR PERFORMS A HIGHLY DETAILED REVIEW AND COMPLETES HIS/HER UNDERSTANDING BY POSING FOLLOW-UP QUESTIONS TO THE TREASURER. ONCE EDITS HAVE BEEN MADE AND THE 990 HAS BEEN FINALIZED, THE EXECUTIVE DIRECTOR PRESENTS THE 990 TO THE BOARD OF DIRECTORS. THE 990 IS SUBMITTED TO THE IRS ONLY AFTER THE BOARD HAS APPROVED THE FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE CHARLOTTE HORNETS FOUNDATION, INC. HAS IMPLEMENTED A WRITTEN CONFLICT OF INTEREST POLICY. THE POLICY APPLIES TO ALL PERSONS IN A POSITION TO INFLUENCE THE AFFAIRS OF THE CORPORATION INCLUDING WITHOUT LIMITATION, OFFICERS, DIRECTORS, ANY PERSON DESCRIBED AS MANAGEMENT PERSONNEL, ANY PERSON WHO MAKES PURCHASING DECISIONS ON BEHALF OF THE CORPORATION AND ANY PERSON WHO HAS PROPRIETARY INFORMATION (EACH INTERESTED PERSON). IMMEDIATE FAMILY MEMBERS OF INTERESTED PERSONS AND ENTITIES IN WHICH ANY INTERESTED PERSON HAS A 30% OWNERSHIP INTEREST ALSO ARE COVERED BY THIS POLICY. AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF HIS OR HER FINANCIAL INTEREST AND MUST BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS, AND MEMBERS OF COMMITTEES WITH BOARD DELEGATED POWERS, CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER AN INTERESTED PERSON DISCLOSES A FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, THE INTERESTED PERSON MUST LEAVE THE BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS DECIDE IF A CONFLICT OF INTEREST EXISTS. A CONFLICT OF INTEREST ALWAYS EXISTS WHEN A VOTING MEMBER RECEIVES COMPENSATION DIRECTLY FROM THE CORPORATION. IF IT IS DECIDED THAT A CONFLICT OF INTEREST EXISTS, THE INTERESTED PERSON MAY MAKE A PRESENTATION AT THE BOARD OR COMMITTEE MEETING. AFTER SUCH PRESENTATION, HE/SHE MUST LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT THAT RESULTS IN THE CONFLICT OF INTEREST. THE CHAIRPERSON OF THE BOARD OR COMMITTEE THEN, IF APPROPRIATE, APPOINTS A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE (AT LEAST 3 COMPARABLE QUOTES, IF APPLICABLE), THE BOARD OR COMMITTEE DETERMINES WHETHER THE CORPORATION CAN OBTAIN A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT WITH REASONABLE EFFORTS FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY ATTAINABLE, THE BOARD OR COMMITTEE DETERMINES BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE CORPORATION'S BEST INTEREST AND FOR ITS OWN BENEFIT AND WHETHER THE TRANSACTION IS FAIR AND REASONABLE TO THE CORPORATION. THE BOARD OR COMMITTEE MAKES ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT IN CONFORMITY WITH SUCH DETERMINATION. |
| FORM 990, PART VI, SECTION B, LINE 15 | COMPENSATION IS PROVIDED BY THE RELATED ORGANIZATION. SEE THE RESPONSE TO FORM 990, PART VII. |
| FORM 990, PART VI, SECTION C, LINE 19 | ALL DOCUMENTS (GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, & FINANCIAL STATEMENTS) ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST |
| FORM 990, PART VII | COMPENSATION THE EXECUTIVE DIRECTOR IS AN EMPLOYEE OF, AND HER COMPENSATION IS PROVIDED ENTIRELY BY, THE RELATED ORGANIZATION FOR SERVICES PROVIDED TO THIS ORGANIZATION. THESE SERVICES WERE DONATED TO THE FOUNDATION. |
Schedule R IRS990ScheduleR
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HORNETS BASKETBALL HOLDINGS LLC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 333 E TRADE STREET | AddressLine1Txt |
| City | CHARLOTTE | CityNm |
| State Abbreviation | NC | StateAbbreviationCd |
| ZIP | 28202 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 770605807 | EIN |
| Primary Activities | SUPPORT STAFF | PrimaryActivitiesTxt |
| Legal Domicile State | DE | LegalDomicileStateCd |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Disproportionate Allocations | 0 | DisproportionateAllocationsInd |
| General Or Managing Partner | 0 | GeneralOrManagingPartnerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | Yes (1) | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (1) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |