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CHARLOTTE — Ensuring sustained financial stability will be one of the top priorities for the next CEO of the Charlotte Regional Business Alliance. The organization ran a deficit of $1.4 million in 2022 and has struggled to reach initial revenue benchmarks, according to recent financial filings reviewed by CBJ.
CLT Alliance formed in late 2018 as a result of a merger between the Charlotte Chamber and the Charlotte Regional Partnership. The new entity has mostly fallen short of revenue generated by its predecessor organizations. It ran operating deficits in three of its first four full years, according to tax filings.
Spokesperson Tanya Mendis told CBJ, “Much of the budgetary loss in 2022 can be attributed to the end of Covid-related PPP. Our combined organizations (CLT Alliance and CLT Alliance Foundation) ended 2023 with a balanced budget.”
Read more here.
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