Carolina Fintech Hub
- Assets
- $103.3k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 56
- Location
- Charlotte, NC
- Founding
- 03/2018
- Data as of
- 12/2022
- EIN
- 82-2880690
Organization Overview
Carolina Fintech Hub is located in Charlotte, NC. The organization was established in 2018. 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, Carolina Fintech Hub employed 56 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carolina Fintech Hub 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, Carolina Fintech Hub generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 13.0% each year . All expenses for the organization totaled $1.8m 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
THE CAROLINA FINTECH HUB IS A NON-PROFIT ORGANIZATION COMPRISED OF FINANCE AND TECHNOLOGY LEADERSHIP IN THE CAROLINAS REGION FOCUSED ON FOSTERING THE ADVANCEMENT OF FINANCIAL TECHNOLOGY AND TALENT IN THE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TALENT DEVELOPMENT - THROUGH OUTREACH, HACKATHONS, MEETUPS, CONFERENCES, AND FINTECH PITCH DAYS, CAROLINA FINTECH HUB (THE ORGANIZATION) IS CREATING ADDITIONAL PIPELINES OF TALENT TO AUGMENT TODAYS TRADITIONAL HIRING APPROACHES. OUR GOAL IS TO PLACE EXCEPTIONAL CANDIDATES FROM DIVERSE BACKGROUNDS INTO OPEN POSITIONS, AND ULTIMATELY RETAIN THE BEST TALENT IN THE CAROLINAS.
OUTREACH - CONNECTING THE FINTECH ECOSYSTEM THROUGH NETWORKING EVENTS, CONFERENCES, MONTHLY MEETINGS, AND OTHER COMMUNICATION CHANNELS.
INNOVATION - PROGRESSING INNOVATION BY SOURCING A PIPELINE OF INNOVATION FOR RECRUITMENT, INCUBATION AND DEALMAKING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tariq Bokhari President | Officer | 40 | $250,000 |
David Matthews Director | Trustee | 8 | $0 |
Vas Kodali Director | Trustee | 8 | $0 |
Steve Boehm Director | Trustee | 8 | $0 |
Michael Wallace Treasurer And Director | OfficerTrustee | 8 | $0 |
John Stoutenger Secretary And Director | OfficerTrustee | 8 | $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 | $1,082,602 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,082,602 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $1,082,602 |
| 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. | $250,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $908,131 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $70,189 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,911 |
| 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 | $59,546 |
| Advertising and promotion | $45,179 |
| Office expenses | $20,591 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $21,383 |
| 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 | $1,043 |
| All other expenses | $0 |
| Total functional expenses | $1,842,110 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $103,323 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $103,323 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $103,323 |
| Total liabilities and net assets/fund balances | $103,323 |
Grants Awarded
Over the last fiscal year, Carolina Fintech Hub has awarded $277,819 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
REVTECH LABS LLC PURPOSE: To assist in Fintech innovation | $235,000 |
PACKARD PLACE PURPOSE: Supporting Fintechinnovation | $42,819 |