Charlotte Regional Partnership Inc

Nonprofit profile at a glance

EIN
581457132
IRS 990 coverage
2009–2019
Forms available
Form 990 2019
Location
Charlotte, NC, USA
Phone
7043781324
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$336,325
Expenses
$237,447
Assets
$280
Liabilities
$751

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • BLAIR STANFORD (VICE PRESIDENT)
  • RONNIE BRYANT (FORMER PRESIDENT/CEO)

Highest reported compensation

  • RONNIE BRYANT (FORMER PRESIDENT/CEO): $159,415 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Charlotte regional partnership's mission is to market charlotte USA globally as the premier location for expanding and relocating businesses. The vision is to champion a regional economic development marketing initiative supported by sustainable funding and regional collaboration.

What it reported doing in 2019

The organization stimulates economic development in the city of charlotte, North Carolina as well as mecklenburg county and 13 surrounding counties through a marketing program with a focus on economic development.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 89
  • Accountability: 95
  • Sustainability: 41
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 54.4%; rating input score 54
  • Program expense ratio: 77%; rating input score 77
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 29.4%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: 2.68; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 67.1%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: -13% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: -8.4% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: -15.1% per year; rating input score 0; 5th percentile among comparable filings

Details

  • Where the money goes: 54.4% of revenue deployed · 77% of spending went to programs
  • Governance: 8 of 8 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $183K in reported program spending
  • Leadership: top reported pay $159K · 9 people listed · 5 of 6 pay-setting controls reported
  • Consistency: 20 of 20 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 7 filing years from 2009 to 2019
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 54/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.