Charlotte Sports Foundation
- Assets
- $18.0m
- Revenue
- $18.5m
- Investments
- $459.5k
- Employees
- 8
- Location
- Charlotte, NC
- Founding
- 06/2014
- Data as of
- 03/2023
- EIN
- 46-2059715
Organization Overview
Charlotte Sports Foundation is located in Charlotte, NC. The organization was established in 2014. According to its NTEE Classification (N40) the organization is classified as: Sports Associations & Training Facilities, under the broad grouping of Recreation & Sports and related organizations. As of 03/2023, Charlotte Sports Foundation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Charlotte Sports Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 03/2023, Charlotte Sports Foundation generated $18.5m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $16.1m during the year ending 03/2023. As we would expect to see with falling revenues, expenses have declined by (3.7%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Charlotte Sports Foundation has awarded 49 individual grants totaling $88,151,480. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE CHARLOTTE SPORTS FOUNDATION IS A NON-PROFIT, 501(C)(3) ORGANIZATION CREATED IN 2013 TO PROVIDE LEADERSHIP FOR SPORTS-BASED INITIATIVES THAT ENHANCE THE ECONOMY AND QUALITY OF LIFE IN THE CHARLOTTE REGION. WE PROVIDE UNIQUE EVENTS AND BUSINESS OPPORTUNITIES AROUND PROFESSIONAL, COLLEGIATE AND AMATEUR SPORTING EVENTS. OUR EFFORTS ARE INTENDED TO CREATE A POSITIVE ECONOMIC IMPACT IN THE REGION AS WELL AS TO ENHANCE THE QUALITY OF LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE POST-SEASON COLLEGE FOOTBALL BOWL GAME IS GENERALLY PRESENTED IN DECEMBER OF EACH YEAR AND IS SPONSORED BY A PRIMARY OR TITLE SPONSOR. DUKE'S MAYONNAISE WAS THE TITLE SPONSOR FOR THE 2022 EVENT, AND THE GAME WAS NAMED THE DUKE'S MAYO BOWL AND HELD ON DECEMBER 30, 2022 AT THE BANK OF AMERICA STADIUM IN CHARLOTTE, NORTH CAROLINA. THE PARTICIPATING TEAMS IN THE 2022 EVENT WERE NORTH CAROLINA STATE UNIVERSITY AND THE UNIVERSITY OF MARYLAND.
CHARLOTTE SPORTS FOUNDATION SERVES AS THE LOCAL COMMITTEE FOR THE ATLANTIC COAST CONFERENCE FOOTBALL CHAMPIONSHIP GAME. THE GAME WAS HELD DECEMBER 3, 2022 IN CHARLOTTE, NORTH CAROLINA. THE PARTICIPATING TEAMS IN THE 2022 EVENT WERE CLEMSON UNIVERSITY AND THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL.
CHARLOTTE SPORTS EVENTS OPERATES SPORTS RELATED EVENTS IN CHARLOTTE METRO AREA DESIGNED AS CIVIC PROMOTIONS AND TO RAISE FUNDS FOR VARIOUS CHARITABLE CAUSES.DURING THE FISCAL YEAR, CHARLOTTE SPORTS EVENTS HELD AN OPENING WEEKEND COLLEGE FOOTBALL GAME SPONSORED BY A PRIMARY OR TITLE SPONSOR. DUKE'S MAYONNAISE WAS THE TITLE SPONSOR FOR THE 2022 EVENT. THE GAME WAS NAMED THE DUKE'S MAYO CLASSIC AND HELD ON SEPTEMBER 3: - NORTH CAROLINA CENTRAL AND NORTH CAROLINA A&T STATE UNIVERSITY WERE THE PARTICIPATING TEAMS AT THE BANK OF AMERICA STADIUM IN CHARLOTTE, NORTH CAROLINA ON SEPTEMBER 3, 2022.DURING THE FISCAL YEAR, CHARLOTTE SPORTS EVENTS HELD THE JUMPMAN INVITATIONAL SANCTIONED BY THE NCAA. THE 2022 JUMPMAN EVENT WAS HELD ON DECEMBER 20, 2022 IN CHARLOTTE, NORTH CAROLINA. - UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL, UNIVERSITY OF MICHIGAN, UNIVERSITY OF OKLAHOMA, AND THE UNIVERSITY OF FLORIDA WERE THE PARTICIPATING TEAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Danny Morrison Executive Director | OfficerTrustee | 40 | $381,068 |
Johnny Harris Co-Chair Of The Board | OfficerTrustee | 40 | $0 |
Andrea Smith Co-Chair Of The Board | OfficerTrustee | 2 | $0 |
Steve Luquire Vice President | OfficerTrustee | 2 | $0 |
Steve Young Treasurer/secretary | OfficerTrustee | 2 | $0 |
Kaleah Rodgers Assistant Secretary | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bespoke Sports & Entertainment Llc Advertising And Consulting | 3/30/22 | $270,903 |
Luquire Marketing | 3/30/22 | $213,237 |
Jhe Production Group Event Production | 3/30/22 | $181,882 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,075,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,114,403 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,189,403 |
| Total Program Service Revenue | $10,832,508 |
| Investment income | $143,932 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,481,910 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,363,730 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $678,134 |
| Compensation of current officers, directors, key employees. | $415,339 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $528,705 |
| Pension plan accruals and contributions | $41,126 |
| Other employee benefits | $154,785 |
| Payroll taxes | $122,055 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $47,370 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $406,737 |
| Advertising and promotion | $476,768 |
| Office expenses | $150,270 |
| Information technology | $23,424 |
| Royalties | $0 |
| Occupancy | $1,251,138 |
| Travel | $137,146 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $167,929 |
| Insurance | $236,316 |
| All other expenses | $0 |
| Total functional expenses | $16,064,841 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $968,557 |
| Savings and temporary cash investments | $4,578,121 |
| Pledges and grants receivable | $10,945,416 |
| Accounts receivable, net | $828,301 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $75,925 |
| Net Land, buildings, and equipment | $7,904 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $459,480 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $90,211 |
| Total assets | $17,953,915 |
| Accounts payable and accrued expenses | $320,750 |
| Grants payable | $0 |
| Deferred revenue | $250,829 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $571,579 |
| Net assets without donor restrictions | $6,436,921 |
| Net assets with donor restrictions | $10,945,415 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $17,953,915 |
Grants Awarded
Over the last fiscal year, Charlotte Sports Foundation has awarded $9,849,746 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
NORTH CAROLINA A&T STATE UNIVERSITY PURPOSE: TEAM PARTICIPATION | $493,318 |
100 BLACK MEN OF GREATER CHARLOTTE INC PURPOSE: TEAM PARTICIPATION | $154,162 |
NORTH CAROLINA CENTRAL UNIVERSITY PURPOSE: TEAM PARTICIPATION | $739,978 |
NORTH CAROLINA STATE UNIVERSITY PURPOSE: TEAM PARTICIPATION | $2,600,000 |
MARYLAND UNIVERSITY PURPOSE: TEAM PARTICIPATION | $2,450,000 |
MICHIGAN UNIVERSITY PURPOSE: TEAM PARTICIPATION | $300,000 |