Charlotte Regional Business Alliance Foundation
- Assets
- $1.2m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 06/2001
- Data as of
- 12/2023
- EIN
- 56-2227354
Organization Overview
Charlotte Regional Business Alliance Foundation, operating under the name Alliance Foundation, is located in Charlotte, NC. The organization was established in 2001. According to its NTEE Classification (S12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alliance 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 12/2023, Alliance Foundation generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 42.1% each year . All expenses for the organization totaled $1.4m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO CATALYZE TRANSFORMATIVE GROWTH IN THE CHARLOTTE REGION WHERE DYNAMIC (CONT'D ON PAGE 2)
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHARLOTTE SMALL BUSINESS GROWTH FUND IS AN INNOVATIVE FUND FOCUSED ON GIVING SMALL BUSINESSES-INCLUDING THOSE THAT MAY NOT QUALIFY FOR FUNDING ELSEWHERE-ACCESS TO CAPITAL AT COMPETITIVE RATES. FUNDING FLOWS THROUGH MISSION BASED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS THAT STAY ENGAGED THROUGHOUT THE LIFE OF THE LOAN, PROVIDING COACHING, MENTORING, ACCELERATORS AND OTHER SUPPORTIVE SERVICES.
RISE (REGIONAL INNOVATION AND SUPPORT FOR ENTREPRENEURS) IS AN INNOVATIVE, ARTIFICIAL INTELLIGENCE POWERED TECHNOLOGY PLATFORM THAT HELPS ENTREPRENEURS NAVIGATE RESOURCES AVAILABLE TO START, RUN AND GROW BUSINESSES. HIGHLIGHTING THE ABUNDANCE OF RESOURCES AVAILABLE TO ENTREPRENEURS, IN A SINGLE PLATFORM, WHILE KEEPING THOSE RESOURCES PERPETUALLY UP TO DATE, SAVES ENTREPRENEURS PRECIOUS TIME, ALLOWING THEM TO FOCUS ON THE FUNDAMENTALS OF GROWING THEIR BUSINESSES. THE PLATFORM ALSO PROVIDES USEFUL DATA AND INSIGHT INTO THE MOST SOUGHT AFTER AND LEVERAGED RESOURCES IN THE SMALL BUSINESS ECOSYSTEM.
SCALE UP CLT IS A BUSINESS ACCELERATOR FOCUSED ON HELPING ENTREPRENEURS WITH BUSINESSES BETWEEN $250,000 AND $999,999 IN REVENUE, EXCEED $1,000,000. ENTERING OUR SIXTH COHORT, OVER 26% OF SCALE UP CLT PARTICIPANTS HAVE GROWN THEIR BUSINESSES BEYOND $1,000,000, AS COMPARED TO UNDER 4% OF ALL BUSINESSES NATIONALLY. ADDITIONALLY, PARTICIPANTS HAVE SEEN AN AVERAGE YEAR OVER YEAR REVENUE GROWTH OF 33%.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristerpher Smith Director | Trustee | 1 | $0 |
Bryan Delaney Director | Trustee | 1 | $0 |
David Head Director | Trustee | 1 | $0 |
Reginald Henderson Director | Trustee | 1 | $0 |
Alice Davis Director | Trustee | 1 | $0 |
Cheryl Richards Director | Trustee | 1 | $0 |
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 | $1,735,664 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,735,664 |
| Total Program Service Revenue | $0 |
| Investment income | $10,013 |
| 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 | $1,745,677 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $596,617 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $647,676 |
| Advertising and promotion | $0 |
| Office expenses | $18,792 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $62,372 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $950 |
| Total functional expenses | $1,394,129 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,158,593 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,500 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,176,093 |
| Accounts payable and accrued expenses | $161,529 |
| Grants payable | $0 |
| Deferred revenue | $5,000 |
| 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 | $166,529 |
| Net assets without donor restrictions | $723,857 |
| Net assets with donor restrictions | $285,707 |
| 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 | $1,176,093 |