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Nonprofiteer
← CHARLOTTE SPORTS FOUNDATION

Form 990 for tax year 2023

Filed by CHARLOTTE SPORTS FOUNDATION.

Totals

Total revenue
$23,265,919
Total expenses
$21,682,601
Contributions and grants received
$4,671,524
Grants paid
$14,232,016
Program service revenue
$16,567,217
Investment income
$450,019
Other revenue
$1,577,159
Total assets, end of year
$22,608,097
Total liabilities, end of year
$3,279,432
Net assets or fund balances, end of year
$19,328,665
Program services expenses (Part IX)
$20,001,298
Management and general expenses
$1,523,684
Fundraising expenses
$157,619
Program service expenses (Part III)
$20,001,298

Program services were 92.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $1,425,000

  • 1f · All other contributions, gifts and grants

    $3,246,524

  • 2a · Program service revenue: Ticket Sales & Bowl Rights Fees

    total $16,517,217 · related or exempt $16,517,217

  • 2b · Program service revenue: Events

    total $50,000 · related or exempt $50,000

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $450,019 · excluded $450,019

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: Revenue Share Income

    total $784,920 · excluded $784,920

  • 11b · Other revenue: MISCELLANEOUS REVENUE

    total $738,047 · excluded $738,047

  • 11c · Other revenue: ERC Revenue

    total $54,192 · excluded $54,192

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $1,577,159

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $14,232,016 · program services $14,232,016

  • 7 · Other salaries and wages

    total $1,639,500 · program services $590,220 · management and general $950,910 · fundraising $98,370

  • 8 · Pension plan contributions

    total $58,733 · program services $21,144 · management and general $34,065 · fundraising $3,524

  • 9 · Other employee benefits

    total $185,917 · program services $66,930 · management and general $107,832 · fundraising $11,155

  • 10 · Payroll taxes

    total $163,721 · program services $58,940 · management and general $94,958 · fundraising $9,823

  • 11c · Fees: accounting

    total $62,592 · program services $38,395 · management and general $21,929 · fundraising $2,268

  • 11g · Fees: other

    total $488,779 · program services $299,825 · management and general $171,240 · fundraising $17,714

  • 12 · Advertising and promotion

    total $599,491 · program services $599,491

  • 13 · Office expenses

    total $133,161 · program services $47,938 · management and general $77,233 · fundraising $7,990

  • 14 · Information technology

    total $50,883 · program services $18,318 · management and general $29,512 · fundraising $3,053

  • 16 · Occupancy

    total $2,174,938 · program services $2,174,938

  • 17 · Travel

    total $37,851 · program services $37,851

  • 22 · Depreciation, depletion and amortization

    total $3,583 · program services $1,290 · management and general $2,078 · fundraising $215

  • 23 · Insurance

    total $304,292 · program services $267,587 · management and general $33,264 · fundraising $3,441

  • 24a · Other expenses: Ticketing

    total $854,288 · program services $854,004 · management and general $257 · fundraising $27

  • 24b · Other expenses: Events

    total $562,212 · program services $562,026 · management and general $169 · fundraising $17

  • 24c · Other expenses: Miscellaneous

    total $130,644 · program services $130,385 · management and general $237 · fundraising $22

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $968,557 · end of year $3,641,728

  • 2 · Savings and temporary cash investments

    beginning of year $4,578,121 · end of year $9,627,174

  • 3 · Pledges and grants receivable

    beginning of year $10,945,416 · end of year $8,121,428

  • 4 · Accounts receivable

    beginning of year $828,301 · end of year $572,688

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $75,925 · end of year $102,174

  • 10a · Land, buildings and equipment: cost or other basis

    $370,585

  • 10b · Land, buildings and equipment: accumulated depreciation

    $366,264

  • 10c · Land, buildings and equipment, net

    beginning of year $7,904 · end of year $4,321

  • 12 · Investments: other securities

    beginning of year $459,480 · end of year $484,392

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $90,211 · end of year $54,192

  • 17 · Accounts payable and accrued expenses

    beginning of year $320,750 · end of year $3,023,595

  • 19 · Deferred revenue

    beginning of year $250,829 · end of year $255,837

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $6,436,921 · end of year $11,077,237

  • 28 · Net assets with donor restrictions

    beginning of year $10,945,415 · end of year $8,251,428

Mission and programs · 2023

Mission

The Charlotte Sports Foundation is a non-profit, 501(c)(3) organization created in 2013 to provide leadership for sports-based initiatives that enhance the economy and quality of life in the Charlotte region. We provide unique events and business opportunities around professional, collegiate and amateur sporting events. Our efforts are intended to create a positive economic impact in the region as well as to enhance the quality of life.

Activities or mission (Part I)

The Charlotte Sports Foundation is a non-profit, 501(c)(3) organization that enhances the economy and quality of life in the Charlotte region.

  • CSE was formed to foster national amateur sports competition in the greater Charlotte-Mecklenburg County area and for other charitable purposes, including, but not limited to, maximizing the positive impact of the area's economy, national image and community pride by organizing and operating the neutral-site game ("NSG "NSG Event"), Jumpman Invitational ("Jumpman "Jumpman Event"), and Ally Tipoff ("Ally Tipoff Event") sanctioned by the NCAA. The 2023 NSG Event was held on September 2, 2023 in Charlotte, North Carolina. The participating teams were University of South Carolina and University of North Carolina at Chapel Hill. The 2022 NSG Event was held on September 3, 2022 in Charlotte, North Carolina. The participating teams were North Carolina Agricultural and Technical State University and North Carolina Central University. The 2023 Jumpman Event was held on December 19, 2023 and December 20, 2023 in Charlotte, North Carolina. The participating teams were University of North Carolina at Chapel Hill, University of Michigan, University of Oklahoma and the University of Florida. The 2022 Jumpman Event was held on December 20, 2022 in Charlotte, North Carolina. The participating teams were University of North Carolina at Chapel Hill, University of Michigan, University of Oklahoma and the University of Florida. The 2023 Ally Tipoff Event was held on November 9, 2023 in Charlotte, North Carolina. The participating teams were University of Iowa and the Virgina Polytechnic Institute and State University.

    Expenses $13,975,234 · Grants $10,132,016 · Revenue $9,256,742

  • CCFB was formed to foster national amateur sports competition in the greater Charlotte-Mecklenburg County area and for other charitable purposes, including, but not limited to, maximizing the positive impact of the area's economy, national image and community pride by organizing and operating a Football Bowl Subdivision college football game (the "CCFB Event") sanctioned by the National Collegiate Athletic Association (the "NCAA"). The CCFB Event is generally presented in December of each year and is sponsored by a primary or title sponsor (the "CCFB Title Sponsor"). The CCFB Title Sponsor for the 2023 and 2022 CCFB Events was Duke's Mayonnaise. The 2023 and 2022 CCFB Events were held on December 27, 2023 and December 30, 2022, respectively, in Charlotte, North Carolina. The participating teams in the 2023 Event were University of North Carolina at Chapel Hill and West Virginia University. The participating teams in the 2022 Event were University of Maryland and North Carolina State University.

    Expenses $4,610,774 · Grants $4,100,000 · Revenue $5,781,357

  • CCF was formed to foster national amateur sports competition in the greater Charlotte-Mecklenburg County area and for other charitable purposes, including, but not limited to, maximizing the positive impact on the area's economy, national image and community pride by organizing and operating the Atlantic Coast Conference Football Championship Game (the "CCF Event"). The 2023 Event was held on December 2, 2023 in Charlotte, North Carolina. The participating teams were University of Louisville and the Florida State University. The 2022 Event was held on December 3, 2022 in Charlotte, North Carolina. The participating teams were Clemson University and the University of North Carolina at Chapel Hill.

    Expenses $1,415,290 · Revenue $1,529,118

As filed on the 2023 return.

Listed in Part VII

  • Andrea Smith

    Co-Chair of the Board

    Total calculated
    $0
    Hours/week
    2

  • Danny Morrison

    Executive Director

    Total calculated
    $472,405
    From this org
    $413,375
    From related orgs
    $0
    Other
    $59,030
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $413,375
    Bonus
    $0
    Other
    $0
    Deferred
    $17,500
    Nontaxable benefits
    $41,530
    Filer's total
    $472,405

  • Johnny Harris

    Co-Chair of the Board

    Total calculated
    $0
    Hours/week
    40

  • Kaleah Rodgers

    Assistant Secretary

    Total calculated
    $0
    Hours/week
    2

  • Steve Luquire

    Vice President

    Total calculated
    $0
    Hours/week
    2

  • Steve Young

    Treasurer/Secretary

    Total calculated
    $0
    Hours/week
    2

  • Carol Lovin

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Chris Clunie

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Darius Adamczyk

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Dena Diorio

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Derick Close

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Ed Weisiger Jr

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Francisco Alvarado

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Fred Whitfield

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Heath Campbell

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Janet LaBar

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Jeff Brown

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Jesse Cureton

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Jim Phillips

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Jimmy Rayburn

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • John Giannuzzi

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Jon Pollack

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Kieth Cockrell

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Kristi Coleman

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Luke Kissam

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Luke Kuechly

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Malcomb Coley

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Marcus Jones

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Marcus Smith

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Mark Schuler

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Michael Smith

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Mike Hill

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Nicole Tepper

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Patricia Rodgers

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Ron Smith

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Sheldon Francis

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Thomas Davis

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Tom Murray

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Will Webb

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • William Pitts

    Chief Operating Officer

    Total calculated
    $311,490
    From this org
    $256,260
    From related orgs
    $0
    Other
    $55,230
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $256,260
    Bonus
    $0
    Other
    $0
    Deferred
    $14,104
    Nontaxable benefits
    $41,126
    Filer's total
    $311,490

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • CHARLOTTE COLLEGIATE FOOTBALL II LLC

    ORGANIZATION OF COLLEGIATE TOURNAMENTS · NC · income $2,607,378 · assets $2,258,804

    Directly controlled by CHARLOTTE SPORTS FOUNDATION

  • CHARLOTTE COLLEGIATE FOOTBALL BOWL II LLC

    ORGANIZATION OF COLLEGIATE TOURNAMENTS · NC · income $6,947,374 · assets $7,506,410

    Directly controlled by CHARLOTTE SPORTS FOUNDATION

  • CHARLOTTE SPORTS EVENTS LLC

    ORGANIZATION OF COLLEGIATE TOURNAMENTS · NC · income $12,003,899 · assets $887,964

    Directly controlled by CHARLOTTE SPORTS FOUNDATION

Provenance

Return type
form_990
Tax year
2023
Filed
14 February 2025
IRS schema version
2023v6.0
Source object
202540459349301224

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