2020-11-05T12:31:12-06:00 2019-12-31 560574444 CHERRY BEKAERT LLP 1111 METROPOLITAN AVE STE 900 CHARLOTTE NC 28204 990 2019-01-01 560173610 CHARLOTTE REGIONAL BUSINESS ALLIANCE CHAR 7043781324 PO BOX 20103 CHARLOTTE NC 282020027 JANET LABAR CEO 7043781324 2020-10-28 1 AMANDA ADAMS P00748038 7043771678 40.137.115.169 2020-10-28 15:03:18 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 D540CFC6B4C0005F0B59529FD802F0C3F429425A 2019 2021-04-22 16:20:28Z JANET LABAR PO BOX 20103 CHARLOTTE NC 282020027 11206231 0 X WWW.CHARLOTTEREGION.COM X 1915 NC ADVANCE THE CHARLOTTE REGION TO CREATE OPPORTUNITY, ECONOMIC GROWTH AND PROSPERITY FOR ALL. 86 86 53 1432 12941 8653 0 0 8326392 11128565 38163 51165 22312 26501 8386867 11206231 0 0 0 0 5000719 6026809 0 0 0 3645093 5637044 8645812 11663853 -258945 -457622 7704035 7349294 4596435 4699316 3107600 2649978 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 1,827 MEMBERS IN 2019. 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 1 0 0 0 0 0 1 0 0 1 43 0 1 53 1 1 1 0 0 0 0 0 0 0 X 86 86 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NC X JOAQUIN SORIA 7043781324 330 SOUTH TRYON STREET CHARLOTTE NC 28202 JENNIFER WEBER CHAIR 4.00 X X 0 0 0 CAROL LOVIN 1ST VICE CHAIR 1.00 X X 0 0 0 MALCOMB COLEY 2ND VICE CHAIR 1.00 X X 0 0 0 JESSE CURETON PAST CHAIR 1.00 X X 0 0 0 JOE PARADISE TREASURER 1.00 X X 0 0 0 LUIS LLUBERAS GENERAL COUNSEL 1.00 X X 0 0 0 KENDALL ALLEY TRUSTEE 1.00 X 0 0 0 CLAY ARMBRISTER TRUSTEE 1.00 X 0 0 0 BRAD BROGDON TRUSTEE 1.00 X 0 0 0 DERICK CLOSE TRUSTEE 1.00 X 0 0 0 KIETH COCKRELL TRUSTEE 1.00 X 0 0 0 MELISSA CRONIN TRUSTEE 1.00 X 0 0 0 DENA DIORIO TRUSTEE 1.00 X 0 0 0 DANIELLE FRAZIER TRUSTEE 1.00 X 0 0 0 TOM GLICK TRUSTEE 1.00 X 0 0 0 GEOFF GRAY TRUSTEE 1.00 X 0 0 0 DAVID HEAD TRUSTEE 1.00 X 0 0 0 DONNY HICKS TRUSTEE 1.00 X 0 0 0 JULIE JANSON TRUSTEE 1.00 X 0 0 0 MARCUS JONES TRUSTEE 1.00 X 0 0 0 PAT JONES TRUSTEE 1.00 X 0 0 0 DAVID LONGO 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 ALAN SAUBER TRUSTEE 1.00 X 0 0 0 ELAINE SPAULDING TRUSTEE 1.00 X 0 0 0 DAVID SWENSON TRUSTEE 1.00 X 0 0 0 RICK TANKERSLEY TRUSTEE 1.00 X 0 0 0 JOYCE TOMPKINS TRUSTEE 1.00 X 0 0 0 FRED WHITFIELD TRUSTEE 1.00 X 0 0 0 LAURA ULLRICH TRUSTEE 1.00 X 0 0 0 BANKS WILSON TRUSTEE 1.00 X 0 0 0 TEROSS YOUNG TRUSTEE 1.00 X 0 0 0 JENNIFER APPLEBY TRUSTEE 1.00 X 0 0 0 NED CURRAN TRUSTEE 1.00 X 0 0 0 HOWARD BISSELL TRUSTEE 1.00 X 0 0 0 PHILIP DUBOIS TRUSTEE 1.00 X 0 0 0 CLIFF BRUMFIELD TRUSTEE 1.00 X 0 0 0 CHARLES BOWMAN TRUSTEE 1.00 X 0 0 0 CHARLIS BROCK TRUSTEE 1.00 X 0 0 0 HEATH CAMPBELL TRUSTEE 1.00 X 0 0 0 BETTY DOSTER TRUSTEE 1.00 X 0 0 0 DR WILLIAM DOWNS TRUSTEE 1.00 X 0 0 0 NATALIE FATH TRUSTEE 1.00 X 0 0 0 LEE FITE TRUSTEE 1.00 X 0 0 0 KENNETH GILL TRUSTEE 1.00 X 0 0 0 GARY GREER TRUSTEE 1.00 X 0 0 0 KEN HAYNES TRUSTEE 1.00 X 0 0 0 REGINA HEYWARD TRUSTEE 1.00 X 0 0 0 REGINALD HENDERSON TRUSTEE 1.00 X 0 0 0 FRED KLEIN TRUSTEE 1.00 X 0 0 0 DEC LEE TRUSTEE 1.00 X 0 0 0 ROBERT MILLER TRUSTEE 1.00 X 0 0 0 TOM MURRAY TRUSTEE 1.00 X 0 0 0 DIANNE NEURATER TRUSTEE 1.00 X 0 0 0 CRAWFORD POUNDS TRUSTEE 1.00 X 0 0 0 KELLI PRICE TRUSTEE 1.00 X 0 0 0 WALTER PRICE TRUSTEE 1.00 X 0 0 0 ANN SHERIDAN TRUSTEE 1.00 X 0 0 0 ALISON SUMMERVILLE TRUSTEE 1.00 X 0 0 0 MARTHA WEGNER TRUSTEE 1.00 X 0 0 0 JUDY WISHNEK TRUSTEE 1.00 X 0 0 0 ANGELA YOCHEM TRUSTEE 1.00 X 0 0 0 MICHAELINA ANTHADES TRUSTEE 1.00 X 0 0 0 COMMISSIONER KITTY BARNES TRUSTEE 1.00 X 0 0 0 GREG BOULANGER TRUSTEE 1.00 X 0 0 0 JOHNELLE CAUSWELL TRUSTEE 1.00 X 0 0 0 COREY CREECH TRUSTEE 1.00 X 0 0 0 CAROL HARDISON TRUSTEE 1.00 X 0 0 0 SUSIE JERNIGAN TRUSTEE 1.00 X 0 0 0 GAIL MCHUGH TRUSTEE 1.00 X 0 0 0 ROBBY CARNEY TRUSTEE 1.00 X 0 0 0 GARY YOUNG TRUSTEE 1.00 X 0 0 0 BOBBY CHESNEY TRUSTEE 1.00 X 0 0 0 JEANNINE DODSON TRUSTEE 1.00 X 0 0 0 MATT DORAN TRUSTEE 1.00 X 0 0 0 DEEPAL ELIATAMBY TRUSTEE 1.00 X 0 0 0 RUSS FERGUSON TRUSTEE 1.00 X 0 0 0 GERALDINE IDE GARDNER TRUSTEE 1.00 X 0 0 0 HEATH JENKINS TRUSTEE 1.00 X 0 0 0 CHRISTINA THIGPEN TRUSTEE 1.00 X 0 0 0 JEFF ATKINSON TRUSTEE 1.00 X 0 0 0 CORD BAILEY TRUSTEE 1.00 X 0 0 0 SETH BENNET TRUSTEE 1.00 X 0 0 0 HOLLY CHRISTIAN TRUSTEE 1.00 X 0 0 0 BRYAN DELANEY TRUSTEE 1.00 X 0 0 0 STEVE FISHER TRUSTEE 1.00 X 0 0 0 NANCY MCNELIS TRUSTEE 1.00 X 0 0 0 AMANDA PICKENS NITTO TRUSTEE 1.00 X 0 0 0 KATHY WHOLLEY TRUSTEE 1.00 X 0 0 0 WES BECKNER TRUSTEE 1.00 X 0 0 0 JOHN H HARRIS III TRUSTEE 1.00 X 0 0 0 SCOTT HURD TRUSTEE 1.00 X 0 0 0 TOM JOSEPH TRUSTEE 1.00 X 0 0 0 JOHN REID TRUSTEE 1.00 X 0 0 0 TREY SUTTEN TRUSTEE 1.00 X 0 0 0 NATE VIEBROCK TRUSTEE 1.00 X 0 0 0 FRANK YOHO TRUSTEE 1.00 X 0 0 0 ERIC BOLIN TRUSTEE 1.00 X 0 0 0 CARRIE COOK TRUSTEE 1.00 X 0 0 0 DAN FOGEL TRUSTEE 1.00 X 0 0 0 AMY KOCHAN TRUSTEE 1.00 X 0 0 0 DANA LUMSDEN TRUSTEE 1.00 X 0 0 0 ELAINE LYERLY TRUSTEE 1.00 X 0 0 0 MARIA OCHOA TRUSTEE 1.00 X 0 0 0 JACK SANTANIELLO TRUSTEE 1.00 X 0 0 0 CHRIS PEEK TRUSTEE 1.00 X 0 0 0 ROBERT SCHWANDT TRUSTEE 1.00 X 0 0 0 MAYOR VI LYLES TRUSTEE 1.00 X 0 0 0 JANET LABAR CURRENT PRESIDENT & CEO 40.00 X 289829 0 37841 ROBERT G MORGAN FORMER PRESIDENT/CEO 40.00 X 257125 0 22999 JOAQUIN SORIA CFO 40.00 2.00 X 212864 0 34206 BLAIR M STANFORD COO 40.00 X 309976 0 51156 KEVA L WALTON CGO 40.00 X 269972 0 43344 KRISTIAN K KELLOGG CRO 40.00 X 249076 0 43329 KATI HYNES VP ECONOMIC GROWTH 40.00 X 150703 0 24563 LAUREN LAYNE VP INVESTOR RELATIONS 40.00 X 133487 0 20373 MARVIN PRICE VP ECONOMIC RECRUITMENT 40.00 X 132651 0 20527 2005683 0 298338 18 0 1 0 0 PROJECT REVENUE 900099 5125903 5125903 MEMBERSHIP DUES 900099 3578413 3578413 SPONSORSHIP REVENUE 900099 2424249 2411308 12941 11128565 49424 49424 1741 0 1741 1741 1741 REFUNDS AND OTHER 900099 26501 26501 26501 11206231 11115624 12941 77666 X 1215996 3641933 364521 477927 326432 71228 2323442 5345 703143 658009 4343 1331720 387380 41876 110558 11663853 440338 391515 4477307 3189001 49307 1383687 141517 137034 3861267 1660782 2583566 2200485 12000 47572 7704035 7349294 848484 1113495 2748362 2505411 999589 1080410 4596435 4699316 X 2991172 1313745 116428 1336233 3107600 2649978 7704035 7349294 -457622 0 X 0 1 X 1 0 0 0 0 3578413 6293 6293 6293 2890780 922052 1968728 578375 481269 97106 392112 257461 134651 2200485 ACCRUED OFFICE RENT 401981 DEFERRED LEASE INCENTIVES 129676 ACCRUED POST-RETIREMENT BENEFIT COSTS 548753 1080410 X 11492520 301567 301567 11190953 15278 15278 11206231 11770964 107111 107111 11663853 0 11663853 PART X, LINE 2: UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE (THE "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, 2019 OR 2018. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUE OF AFFILIATE 301,567. PART XI, LINE 4B - OTHER ADJUSTMENTS: REFUNDS 15,278. PART XII, LINE 2D - OTHER ADJUSTMENTS: REFUNDS -15,278. EXPENSES OF AFFILIATE 122,389. X X 0 1 X X X X 1 0 0 JANET LABAR CURRENT PRESIDENT & CEO 241561 0 0 0 48268 0 17500 0 20341 0 327670 0 0 0 ROBERT G MORGAN FORMER PRESIDENT/CEO 39350 0 126499 0 91276 0 13380 0 9619 0 280124 0 0 0 JOAQUIN SORIA CFO 186264 0 25000 0 1600 0 17200 0 17006 0 247070 0 0 0 BLAIR M STANFORD COO 212464 0 88984 0 8528 0 22400 0 28756 0 361132 0 0 0 KEVA L WALTON CGO 207823 0 56066 0 6083 0 21629 0 21715 0 313316 0 0 0 KRISTIAN K KELLOGG CRO 175776 0 68500 0 4800 0 14791 0 28538 0 292405 0 0 0 KATI HYNES VP ECONOMIC GROWTH 139796 0 7000 0 3907 0 11931 0 12632 0 175266 0 0 0 LAUREN LAYNE VP INVESTOR RELATIONS 102287 0 30000 0 1200 0 10640 0 9733 0 153860 0 0 0 MARVIN PRICE VP ECONOMIC RECRUITMENT 124151 0 8500 0 0 0 10859 0 9668 0 153178 0 0 0 PART I, LINE 1A THE ALLIANCE PROVIDED A TAXABLE MOVING EXPENSE AND TEMPORARY HOUSING REIMBURSEMENT TO ITS NEW CEO, JANET LABAR, WHICH WAS GROSSED UP FOR THE RELATED PAYROLL TAXES. PART I, LINE 1B DONE AT REQUEST OF HIRING COMMITTEE AS PART OF NEW CEO'S EMPLOYMENT TERMS. PART I, LINE 4A ROBERT MORGAN RECEIVED SEVERANCE PAY OF $90,096 IN 2019. WRAY WARD OWNED >35% BY DIR 179544 DESIGN SVCS 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. GRANT THORNTON ALSO PROVIDED SERVICES IN AN OCTOBER 2019 COMPENSATION STUDY THAT COVERED ALL POSITIONS. 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. FORM 990, PART IX, LINE 11G OTHER FEES 1,189,582. TEMPORARY HELP 44,943. INTEGRATION/TRANSITION 1,088,917. CHARLOTTE REGIONAL BUSINESS ALLIANCE FOUNDATION PO BOX 20103 CHARLOTTE NC 28202 562227354 EDUCATION, HEALTH, 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