CHARLOTTE — The Charlotte Regional Business Alliance generated nearly $1 million in operating income last year while continuing to stabilize its finances, according to new public financial filings reviewed by CBJ.
In 2022, the nonprofit, also known as CLT Alliance, lost $1.2 million on revenue of $8.5 million. Over an 18-month period beginning late that year, six C-suite executives resigned or left the organization. Local business executives serving on the board and interim CEO Andrea Smith steadied the ship while recruiting a new leadership team.
All financial results in this story represent combined figures for CLT Alliance and its smaller nonprofit sibling, the Charlotte Regional Business Alliance Foundation. The latter focuses on helping small businesses and entrepreneurs through programs including loans and grants; expertise in accounting, expansion, long-range planning, marketing and workforce skills; and nurturing diversity in ownership and executive leadership.
For calendar year 2024, CLT Alliance and the foundation generated combined revenue of $10 million, with operating income of $910,000. A year earlier, they broke even on combined revenue of $10.5 million.
Last year marked the first time since 2021 that CLT Alliance finished with substantive positive cash flow. Operating income totaled $653,000 that year, boosted by $934,000 received from the federal government as part of pandemic recovery funding.
David Longo, CEO of CBI Workplace Solutions and CLT Alliance board chair in 2025, told CBJ that a combination of business efficiencies and attrition boosted the organization’s operating income. The more important measures, he said, are membership and participation by area companies and restoring confidence lost because of the financial challenges and turnover. In those areas, Longo added, CLT Alliance has made significant inroads.
As an example, Longo cited CLT Alliance returning to multiyear memberships and renewals after abandoning that approach during the tumult of 2022 and 2023. He pointed to more economic development wins, including Scout Motors Inc.’s $200 million headquarters bringing 1,200 jobs to Plaza Midwood, as a sign of effective economic development cooperation with state and local government — a core part of CLT Alliance’s mission.
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