Charlotte Regional Business Alliance
- Assets
- $7.4m
- Revenue
- $7.9m
- Investments
- $0.0
- Employees
- 42
- Location
- Charlotte, NC
- Founding
- 04/1953
- Data as of
- 12/2021
- 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 12/2021, Charlotte Regional Business Alliance employed 42 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 12/2021, Charlotte Regional Business Alliance generated $7.9m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $7.5m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.1%) per year over the past 7 years. 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
2021
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. THERE WERE 930 MEMBERS IN 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Janet M Labar President & CEO | Officer | 40 | $336,428 |
Joaquin A Soria CFO | Officer | 40 | $199,282 |
Kari G Hackett Chief Dev & Inve Rel Officer | 40 | $194,873 | |
Kelly A O'brien Chief Advocacy & Strat Officer | 40 | $182,397 | |
Robert J Horton Chief Marketing Officer | 40 | $175,847 | |
Kati Hynes VP Business Recruitment | 40 | $142,210 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,585,730 |
| 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 | $1,585,730 |
| Total Program Service Revenue | $6,347,465 |
| Investment income | $2,385 |
| 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 | $7,941,534 |
| 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. | $597,043 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,933,543 |
| Pension plan accruals and contributions | $186,293 |
| Other employee benefits | $301,924 |
| Payroll taxes | $219,919 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $52,068 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $554,117 |
| Advertising and promotion | $962,375 |
| Office expenses | $594,795 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $539,499 |
| Travel | $206,637 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $11,778 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $266,598 |
| Insurance | $0 |
| All other expenses | $38,545 |
| Total functional expenses | $7,477,838 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,980,212 |
| Savings and temporary cash investments | $3,073,682 |
| Pledges and grants receivable | $489,533 |
| Accounts receivable, net | $10,702 |
| 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 | $211,741 |
| Net Land, buildings, and equipment | $1,613,584 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,000 |
| Total assets | $7,391,454 |
| Accounts payable and accrued expenses | $549,697 |
| Grants payable | $0 |
| Deferred revenue | $2,613,787 |
| 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 | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,083,732 |
| Total liabilities | $4,397,216 |
| Net assets without donor restrictions | $2,971,989 |
| Net assets with donor restrictions | $22,249 |
| 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 | $7,391,454 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Charlotte Regional Business Alliance has recieved totaling $288,800.
| Awarding Organization | Amount |
|---|---|
Presbyterian Hospital Winston Salem, NC PURPOSE: COMMUNITY OUTREACH | $238,800 |
Novant Health Inc Winston Salem, NC PURPOSE: COMMUNITY OUTREACH | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Amt-The Association For Manufacturing Technology Mclean, VA | $46,538,427 | $7,983,774 |
Nashville Convention & Visitors Bureau Nashville, TN | $15,667,602 | $21,623,147 |
Responsible Business Alliance Inc Alexandria, VA | $17,217,182 | $20,384,843 |
Asis International Inc Alexandria, VA | $27,323,586 | $13,144,142 |
National Institute For Automotive Service Exellence Leesburg, VA | $25,163,895 | $18,755,834 |
Portland Cement Association Alexandria, VA | $21,852,055 | $18,216,465 |
American College Of Radiology Association Reston, VA | $28,168,186 | $16,951,008 |
Aerospace Industries Association Of America Inc Arlington, VA | $34,239,387 | $18,520,879 |
Motor & Equipment Manufacturers Association Research Triangle Park, NC | $37,966,318 | $17,239,678 |
Gwinnett Convention And Visitors Bureau Inc Duluth, GA | $29,610,598 | $21,705,089 |
Pharmaceutical Industry Labor Management Association Alexandria, VA | $483,613 | $14,704,562 |
Asian American Hotel Owners Association Atlanta, GA | $22,232,306 | $14,292,123 |