Charlotte Regional Business Alliance
- Assets
- $8.8m
- Revenue
- $7.9m
- Investments
- $0.0
- Employees
- 43
- Location
- Charlotte, NC
- Founding
- 04/1953
- Data as of
- 12/2022
- EIN
- 56-0173610
Organization Overview
Charlotte Regional Business Alliance is located in Charlotte, NC. The organization was established in 1953. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Charlotte Regional Business Alliance employed 43 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Charlotte Regional Business Alliance is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Charlotte Regional Business Alliance generated $7.9m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $9.3m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ADVANCE THE CHARLOTTE REGION TO CREATE OPPORTUNITY, ECONOMIC GROWTH, AND PROSPERITY FOR ALL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randy Alexander Trustee | Trustee | 1 | $0 |
Clarence Armbrister Trustee | Trustee | 1 | $0 |
Oliver Badgio Trustee | Trustee | 1 | $0 |
Tim Baier Trustee | Trustee | 1 | $0 |
Seth Bennett Trustee | Trustee | 1 | $0 |
Tariq Bokhari Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
330 Tryon De Llc Rent | 12/30/22 | $543,477 |
Wrayward Advertising | 12/30/22 | $778,355 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $7,886,875 |
| Investment income | $24,721 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $150 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,911,848 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $456,875 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,644,743 |
| Pension plan accruals and contributions | $284,121 |
| Other employee benefits | $564,974 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $26,203 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $733,583 |
| Advertising and promotion | $824,178 |
| Office expenses | $153,124 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $682,611 |
| Travel | $706,403 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $660 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $231,987 |
| Insurance | $0 |
| All other expenses | $23,231 |
| Total functional expenses | $9,290,991 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,838,392 |
| Savings and temporary cash investments | $1,830,509 |
| Pledges and grants receivable | $959,190 |
| Accounts receivable, net | $21,025 |
| 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 | $119,377 |
| Net Land, buildings, and equipment | $1,381,597 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,621,783 |
| Total assets | $8,771,873 |
| Accounts payable and accrued expenses | $628,160 |
| Grants payable | $0 |
| Deferred revenue | $2,973,424 |
| 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 | $3,555,194 |
| Total liabilities | $7,156,778 |
| Net assets without donor restrictions | $1,615,095 |
| Net assets with donor restrictions | $0 |
| 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 | $8,771,873 |