CHARLOTTE REGIONAL BUSINESS ALLIANCE FOUNDATION

EIN: 562227354 501(c)(3) Community Improvement

CHARLOTTE, NC

Total Revenue
$1,745,677
Total Expenses
$1,394,129
Total Assets
$1,176,093
Net Assets
$1,009,564
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2000
Legal Domicile
NC
Principal Officer
NATHANIEL HOGAN
Phone
7043781324
Tax Period
2023-01-01 to 2023-12-31

CHARLOTTE REGIONAL BUSINESS ALLIANCE FOUNDATION, founded in 2000, is a community nonprofit in the Community Improvement sector that reported $1.7M in total revenue in fiscal year 2023. Revenue surged 175% from the prior year, signaling strong growth momentum. The organization ran a surplus of $352K, a strong 20% operating margin.

Mission

SMALL BUSINESSES AND BUSINESS LEADERS THRIVE.

Program Service Accomplishments

Program 1
Expenses: $291,054 Revenue: $367,355

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...

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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.

Program 2
Expenses: $241,269 Revenue: $117,355

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...

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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.

Program 3
Expenses: $226,508 Revenue: $154,555

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...

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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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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,735,664
Program Service Revenue $0
Investment Income $10,013
Other Revenue $0
TOTAL REVENUE $1,745,677

Expense Breakdown

Grants Paid $0
Salaries & Benefits $596,617
Fundraising Expenses $72,323
Program Expenses $1,279,012
Other Expenses $797,512
TOTAL EXPENSES $1,394,129

Year-over-Year Comparison

2023 2022 Change
Revenue $1,745,677 $635,840 +1.7%
Expenses $1,394,129 $415,119 +2.4%
Net Income $351,548 $220,721 +0.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
9
Independent Members
9
Employees
N/A
Volunteers
9

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$718,843
Total Directors
9
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KRISTERPHER SMITH DIRECTOR 1.00
Director
$0 $0 $0
BRYAN DELANEY DIRECTOR 1.00
Director
$0 $0 $0
DAVID HEAD DIRECTOR 1.00
Director
$0 $0 $0
REGINALD HENDERSON DIRECTOR 1.00
Director
$0 $0 $0
ALICE DAVIS DIRECTOR 1.00
Director
$0 $0 $0
CHERYL RICHARDS DIRECTOR 1.00
Director
$0 $0 $0
CHRISTOPHER MOXLEY CHAIRMAN 1.00
Officer Director
$0 $0 $0
NESHA PAI TREASURER 1.00
Officer Director
$0 $0 $0
JACK SANTANIELLO SECRETARY 1.00
Officer Director
$0 $0 $0
JANET LABAR DIRECTOR, EX-OFFICIO, THRU 2.23 1.00
Officer
$0 $30,459 $514,269
NATHANIEL HOGAN PRESIDENT,CLT ALLIANCE FDTN BEG 2.23 40.00
Officer
$0 $14,863 $204,574
TYWANDA BOLTON DIRECTOR OF SMALL BUSINESS & ENTREPRENEURSHIP 40.00
Highest
$0 $11,174 $113,008
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $1,745,677 $1,394,129 $1,176,093 $351,548
2022 $635,840 $415,119 $1,005,207 $220,721
2021 $302,692 $113,421 $444,959 $189,271
2020 $146,022 $77,176 $260,564 $68,846
2019 $301,567 $122,389 $181,681 $179,178
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