2025-11-11T09:02:54-06:00 2024-12-31 570381582 ELLIOTT DAVIS PLLC 500 EAST MOREHEAD STREET SUITE 700 CHARLOTTE NC 28202 990 2024-01-01 560173610 CHARLOTTE REGIONAL BUSINESS ALLIANCE CHAR 7043781324 PO BOX 20103 CHARLOTTE NC 28202 JOAQUIN SORIA CFO 7043781324 2025-06-30 1 1 JANICE A RATICA P00358837 7043338881 2025-06-27 2024 2025-03-06 01:10:19Z JOAQUIN SORIA PO BOX 20103 CHARLOTTE NC 28202 8355020 0 X WWW.CHARLOTTEREGION.COM X 1915 NC ADVANCE THE CHARLOTTE REGION TO CREATE OPPORTUNITY, ECONOMIC GROWTH, AND PROSPERITY FOR ALL. 90 90 37 380 0 0 0 0 8554330 8215625 135593 139063 0 332 8689923 8355020 0 0 0 0 4902745 3811606 0 0 0 4130642 3669871 9033387 7481477 -343464 873543 7844148 7572529 6572517 5427355 1271631 2145174 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. 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 1 0 1 0 0 0 0 0 1 0 0 1 31 0 1 37 1 0 0 0 0 0 0 0 0 X 90 90 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 THRU MAY 2024 40.00 1.00 X 541877 0 23225 KARI HACKETT CHIEF DEVELOPMENT & INVEST 40.00 X 251827 0 34937 ROBERT J HORTON CHIEF MARKETING OFFICER 40.00 X 242181 0 20229 JOAQUIN SORIA CFO 40.00 2.00 X 228262 0 39869 JOSEPH BOST CHIEF ADVOCACY OFFICER 40.00 1.00 X 224449 0 51561 NATHANIEL HOGAN PRESIDENT, CLT ALLIANCE FO 1.00 40.00 X 221947 0 30508 TYWANDA BOLTON DIRECTOR OF SMALL BUSINESS AND ENTREPRENEURSHIP 40.00 1.00 X 158597 0 24195 RANDY ALEXANDER DIRECTOR 1.00 X 0 0 0 OLIVER BADGIO DIRECTOR 1.00 X 0 0 0 SHANNON BAGATO DIRECTOR 1.00 X 0 0 0 STEVE BAGWELL DIRECTOR 1.00 X 0 0 0 TIM BAIER DIRECTOR 1.00 X 0 0 0 SETH BENNETT DIRECTOR 1.00 X 0 0 0 TARIQ BOKHARI DIRECTOR 1.00 X 0 0 0 JENN BOSSER DIRECTOR 1.00 X 0 0 0 CHARLIS BROCK DIRECTOR 1.00 X 0 0 0 JAKE BURNS DIRECTOR 1.00 X 0 0 0 JOSH CHARLESWORTH DIRECTOR 1.00 X 0 0 0 BILL CHRISTENSEN DIRECTOR 1.00 X 0 0 0 DERICK CLOSE DIRECTOR 1.00 X 0 0 0 KEITH COCKRELL DIRECTOR 1.00 X 0 0 0 KRISTI COLEMAN DIRECTOR 1.00 X 0 0 0 MALCOMB COLEY DIRECTOR 1.00 X 0 0 0 KINNEIL COLTMAN DIRECTOR 1.00 X 0 0 0 ROD CRIDER DIRECTOR 1.00 X 0 0 0 BOJAN CUKIC DIRECTOR 1.00 X 0 0 0 KANDI DEITEMEYER DIRECTOR 1.00 X 0 0 0 DENA DIORIO DIRECTOR 1.00 X 0 0 0 BETTY DOSTER DIRECTOR 1.00 X 0 0 0 GEORGE DUNLAP DIRECTOR 1.00 X 0 0 0 SAAD EHTISHAM DIRECTOR 1.00 X 0 0 0 STEVEN ENGLEHART DIRECTOR 1.00 X 0 0 0 KATHLEEN EVANS DIRECTOR 1.00 X 0 0 0 TONI FARMER-THOMPSON DIRECTOR 1.00 X 0 0 0 JOE FOSTER DIRECTOR 1.00 X 0 0 0 CARLA FRENCH DIRECTOR 1.00 X 0 0 0 GERALDINE GARDNER DIRECTOR 1.00 X 0 0 0 KEN GILL DIRECTOR 1.00 X 0 0 0 ALBERTO GONZALEZ DIRECTOR 1.00 X 0 0 0 BRETT GRAY DIRECTOR 1.00 X 0 0 0 GEOFF GRAY DIRECTOR 1.00 X 0 0 0 CHRIS GREENE DIRECTOR 1.00 X 0 0 0 DENISE HALLETT DIRECTOR 1.00 X 0 0 0 KEN HAYNES 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 THOMAS HERTLEIN DIRECTOR 1.00 X 0 0 0 MELISSA HLAVAC DIRECTOR 1.00 X 0 0 0 JULIE JANSON DIRECTOR 1.00 X 0 0 0 MARCUS JONES DIRECTOR 1.00 X 0 0 0 JENNA KELLY DIRECTOR 1.00 X 0 0 0 DANA KILLIAN DIRECTOR 1.00 X 0 0 0 VALERIE KINLOCH DIRECTOR 1.00 X 0 0 0 JEFF LEDFORD DIRECTOR 1.00 X 0 0 0 DAVID LEE DIRECTOR 1.00 X 0 0 0 CYNTHIA LIMA DIRECTOR 1.00 X 0 0 0 DANIEL LUGO DIRECTOR 1.00 X 0 0 0 MARINA LVOVICH DIRECTOR 1.00 X 0 0 0 KAREN MATTIMORE DIRECTOR 1.00 X 0 0 0 ERIC MAUNTEL DIRECTOR 1.00 X 0 0 0 MARISSA MICHAELS DIRECTOR 1.00 X 0 0 0 TRACY MONTROSS DIRECTOR 1.00 X 0 0 0 CHRISTOPHER MOXLEY DIRECTOR 1.00 X 0 0 0 AMY MURPHY CURLIS DIRECTOR 1.00 X 0 0 0 DIANNE NEURAUTER DIRECTOR 1.00 X 0 0 0 DEWEY NORWOOD JR DIRECTOR 1.00 X 0 0 0 ZACH PANNIER DIRECTOR 1.00 X 0 0 0 CHRIS PATERSON DIRECTOR 1.00 X 0 0 0 BEN PICKETT DIRECTOR 1.00 X 0 0 0 WALTER PRICE DIRECTOR 1.00 X 0 0 0 ABBEY RAMPY DIRECTOR 1.00 X 0 0 0 MIKE RIZER DIRECTOR 1.00 X 0 0 0 PATRICIA RODGERS DIRECTOR 1.00 X 0 0 0 JULIE ROPER DIRECTOR 1.00 X 0 0 0 CARRIE RUDDY DIRECTOR 1.00 X 0 0 0 JUSTIN RUTLEDGE DIRECTOR 1.00 X 0 0 0 ALAN SAUBER DIRECTOR 1.00 X 0 0 0 BROOKE SENTER DIRECTOR 1.00 X 0 0 0 HUNTER SHULL DIRECTOR 1.00 X 0 0 0 ADAM SHUMATE DIRECTOR 1.00 X 0 0 0 MATT SIMMONS DIRECTOR 1.00 X 0 0 0 DAVID SMITH DIRECTOR 1.00 X 0 0 0 MICHAEL SMITH DIRECTOR 1.00 X 0 0 0 KRISTERPHER SMITH DIRECTOR 1.00 X 0 0 0 BRANDON SPEARS DIRECTOR 1.00 X 0 0 0 MIKE TANKSLEY DIRECTOR 1.00 X 0 0 0 BEN TARIO DIRECTOR 1.00 X 0 0 0 BRENT TOLLISON DIRECTOR 1.00 X 0 0 0 LAURA ULLRICH DIRECTOR 1.00 X 0 0 0 GREG WALTER DIRECTOR 1.00 X 0 0 0 MARTHA WEGNER DIRECTOR 1.00 X 0 0 0 SASHA WEINTRAUB DIRECTOR 1.00 X 0 0 0 FRED WHITFIELD DIRECTOR 1.00 X 0 0 0 ANDREA SMITH PRESIDENT, NON-VOTING 40.00 1.00 X X 0 0 0 ALISON SUMMERVILLE IMMEDIATE PAST CHAIR 5.00 1.00 X X 0 0 0 SHALANNA PIRTLE SECRETARY & GENERAL COUNSEL, NON-VOTING 3.00 1.00 X X 0 0 0 EMILY PILLARS TREASURER 2.00 1.00 X X 0 0 0 DAVID LONGO CHAIR 2.00 X X 0 0 0 DAVE KATZ 1ST VICE CHAIR 2.00 X X 0 0 0 1869140 0 224524 14 0 1 0 300 TRYON DE LLC 532 GOVERNOR MORRISON ST STE 201 CHARLOTTE NC 28211 RENT 626921 ANDREA SMITH CONSULTING LLC 1600 QUEENS ROAD WEST CHARLOTTE NC 28207 CONSULTING 210000 MYTHIC 3700 SOUTH BLVD STE 325 CHARLOTTE NC 28209 DEVELOP/CREATE WEBSITE 204625 NEXUS SEARCH PARTNERS 6000 FAIRVIEW ROAD STE 1200 CHARLOTTE NC 28211 SEARCH FIRM 166806 WRAY WARD 2317 THRIFT ROAD CHARLOTTE NC 28208 ADVERTISING 134970 5 MEMBERSHIP DUES 900099 7232939 7232939 PROJECT REVENUE 900099 982686 982686 8215625 139063 139063 OTHER INCOME 900099 332 332 332 8355020 8215957 0 139063 X 709321 2370965 250793 480527 91779 1055496 290040 189063 480146 468363 4392 239891 EVENT EXPENSE 343800 DUES & SUBSCRIPTIONS 248078 EQUIPMENT LEASE 74851 TEMPORARY HELP 69900 114072 7481477 1898202 3872677 1664935 409261 173209 147053 144811 175459 147128 4098210 2891556 1177591 1206654 2371647 2028050 7844148 7572529 601858 757688 2722295 2220091 3248364 2449576 6572517 5427355 X 1271631 2070766 74408 1271631 2145174 7844148 7572529 873543 0 X X 0 1 X 1 0 0 0 0 7232939 44666 44666 0 44666 2916006 1925671 990335 778156 573773 204383 404048 392112 11936 1206654 ROU ASSET 2028050 2028050 LEASE LIABILITY 2449576 2449576 X PART X, LINE 2: CLT ALLIANCE AND THE FOUNDATION ARE EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) AND SECTION 501(C)(6), RESPECTIVELY, OF THE INTERNAL REVENUE CODE (THE "CODE"). THEY ARE 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, 2024 AND 2023, 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 THRU MAY 2024 450158 0 80000 0 11719 0 21242 0 1983 0 565102 0 0 0 KARI HACKETT CHIEF DEVELOPMENT & INVEST 222027 0 25000 0 4800 0 20173 0 14764 0 286764 0 0 0 ROBERT J HORTON CHIEF MARKETING OFFICER 222381 0 15000 0 4800 0 18831 0 1398 0 262410 0 0 0 JOAQUIN SORIA CFO 218462 0 5000 0 4800 0 18240 0 21629 0 268131 0 0 0 JOSEPH BOST CHIEF ADVOCACY OFFICER 194649 0 25000 0 4800 0 18533 0 33028 0 276010 0 0 0 NATHANIEL HOGAN PRESIDENT, CLT ALLIANCE FO 202147 0 15000 0 4800 0 16977 0 13531 0 252455 0 0 0 TYWANDA BOLTON DIRECTOR OF SMALL BUSINESS AND ENTRE 152298 0 6299 0 0 0 12864 0 11331 0 182792 0 0 0 PART I, LINE 4A JANET LABAR, CEO/PRESIDENT, WAS PAID SEVERANCE IN THE AMOUNT OF $265,625. ANDREA SMITH CONSULTING LLC ANDREA SMITH, INTERIM PRESIDENT, IS OWNER OF ANDREA SMITH CONSULTING LLC 210000 ANDREA SMITH, INTERIM PRESIDENT, IS OWNER OF ANDREA SMITH CONSULTING LLC. ANDREA SMITH CONSULTING WAS PAID FOR ITS SERVICES. ALL PAYMENTS WERE AT ARM'S LENGTH AND FAIR MARKET VALUE. 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 REVIEWED BY THE VP OF ACCOUNTING, CFO AND CEO, OF THE ORGANIZATION. UPON THEIR APPROVAL, THE 990 IS REVIEWED BY THE FINANCE COMMITTEE AND THEN BY THE BOARD OF DIRECTORS. THE 990 IS FILED AFTER THE BOARD 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 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 DIRECTORS 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 AT THE DISCRETION OF THE CEO. THE PRESIDENT & CEO RECOMMEND 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. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES 1,055,496. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED 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