Civic Intelligence

Clt Host 2020 Inc.

990 • Fiscal year 2021 • EIN 83-1264583

Jan 01, 2021 to Dec 31, 2021 • Filed on May 13, 2022

Organization Profilecharlottein2020.com
200 S College StreetCharlotte, NC 28202

(704) 907-8629

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

23rd percentile

0.00x

Higher debt load relative to assets than 23% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

27th percentile

0.01x

Higher debt load relative to revenue than 27% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

1st percentile

-297%

Higher net margin than 1% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

74th percentile

$109,559

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 18.4% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

2nd percentile

-38%

Faster asset growth than 2% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

1st percentile

-97%

Faster revenue growth than 1% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets23rd percentile

Assets

Down

$2,898,616

Down $1,758,187 (-38%) from 2020

Net Assets

Down

$2,891,257

Down $1,764,148 (-38%) from 2020

Liabilities

Up

$7,359

Up $5,961 (+426%) from 2020

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin1st percentile

Revenue

Down

$594,290

Down $22,862,304 (-97%) from 2020

Expenses

Down

$2,358,438

Down $29,114,029 (-93%) from 2020

Net Income

Up

-$1,764,148

Up $6,251,725 (+78%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0Assets 2018: $2,250,539Liabilities 2018: $35,504Net Assets 2018: $2,215,0352018Assets 2019: $13,670,964Liabilities 2019: $999,684Net Assets 2019: $12,671,2802019Assets 2020: $4,656,803Liabilities 2020: $1,398Net Assets 2020: $4,655,4052020Assets 2021: $2,898,616Liabilities 2021: $7,359Net Assets 2021: $2,891,2572021Assets 2022: $2,435,498Liabilities 2022: $9,387Net Assets 2022: $2,426,1112022

Highlighted filing

2021

Assets$2,898,616
Liabilities$7,359
Net Assets$2,891,257
Open 2021 Filing

Operations Trend

Revenue Growth1st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$40M$30M$20M$10M$0-$10MRevenue 2018: $2,998,755Expenses 2018: $783,720Net Income 2018: $2,215,0352018Revenue 2019: $18,398,177Expenses 2019: $7,941,932Net Income 2019: $10,456,2452019Revenue 2020: $23,456,594Expenses 2020: $31,472,467Net Income 2020: -$8,015,8732020Revenue 2021: $594,290Expenses 2021: $2,358,438Net Income 2021: -$1,764,1482021Revenue 2022: $4,861Expenses 2022: $470,008Net Income 2022: -$465,1472022

Highlighted filing

2021

Revenue$594,290
Expenses$2,358,438
Net Income-$1,764,148
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 13, 2022
Return Version
2021v4.1
Gross Receipts
$594,290
Mission and Program Overview

Mission

CLT Host 2020, Inc., is a 501(c)(3) not for profit economic development organization with no political affiliation, responsible for organizing hosting and funding the 2020 Republican National Convention in Charlotte. CLT Host 2020, Inc. aims to showcase Charlotte, the Carolinas and the region to the world as a premier location for business development, hospitality and tourism.

The mission of CLT Host 2020, Inc. is to enable the 2020 Republican National Convention to support the tourism efforts of the City of Charlotte and the surrounding region and promote...(See Sch O)

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$4,541,221$2,817,033▼ $1,724,188
Cash and Non-Interest-Bearing Accounts$105,412$81,583▼ $23,829
Total Assets$4,656,803$2,898,616▼ $1,758,187
Other Assets Total$10,170$0▼ $10,170
Liabilities
Accounts Payable and Accrued Expenses$3,042$5,388▲ $2,346
Other Liabilities$-104$1,894▲ $1,998
Unsecured Notes Loans Payable$-1,540$77▲ $1,617
Total Liabilities$1,398$7,359▲ $5,961
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,655,405$2,891,257▼ $1,764,148
Total Net Assets Fund Balance$4,655,405$2,891,257▼ $1,764,148
Total Liabilities and Net Assets / Fund Balance$4,656,803$2,898,616▼ $1,758,187
Compensation and Service Providers
Top Officer Pay74th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
John W LassiterCLS Advisory Service---$171,600$171,600
Kimberly BowmanTreasurer & CFOPT$109,559-$109,559
Kimberly L Bowman--$109,559-$109,559

Board Members and Trustees

NameTitle
John W LassiterPresident & CEO
Edward CurranDirector
Walter PriceDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
JOHN LASSITERCLS Advisory Services LLCAdministrative Consulting200 S College Street Suite 1, Charlotte, NC 28202$171,600
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$7,261
Other Revenue
$587,029
Change in Net Assets
$-1,764,148

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,821,250
Salaries, Compensation, and Employee Benefits$311,721
Other Expenses$225,467
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,821,250--$1,821,250
Current Officers, Directors, Trustees, and Key Employees$117,796$181,789$0$299,585
Insurance$23,589$86,434$0$110,023
Fees for Services Legal$0$44,057$0$44,057
Information Technology$0$31,384$0$31,384
Office Expenses$0$21,879$0$21,879
Payroll Taxes$2,212$6,524$0$8,736
Fees for Services Accounting$0$8,623$0$8,623
Advertising$6,800$0$0$6,800
Pension Plan Contributions$1,149$2,251$0$3,400
Occupancy$1,726$0$0$1,726
Travel$0$331$0$331
Other Expenses$0$287$0$287
Conferences and Meetings$132$0$0$132
Total Functional Expenses$1,974,654$383,784$0$2,358,438
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
(4) Foundation For The CarolinasCharlotte, NC-Economic Development$1,000,000
(1) City of CharlotteCharlotte, NC-Economic Development$300,000
(3) Charlotte Regional Business Alliance FoundationCharlotte, NC-Economic Development$200,000
(2) Clt Ig 2025 IncCharlotte, NC-Economic Development$150,000
(5) Trail of History IncorporatedCharlotte, NC-Economic Development$100,000
(6) North Carolina Economic Development Association Foundation IncRaleigh, NC-Economic Development$71,250
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Director/ConsultantAdministration ConsultingNo$171,600
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Health Insurance Liability$1,894
NC Unemployment Tax Payable$0
Federal Withholding Taxes Payable$0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
Yes
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
CLT Host 2020 Inc
EIN
83-1264583
Phone
7049078629
Address
200 S College Street, Charlotte, NC 28202
Doing Business As
CLT Host 2020 Inc

Signing Officer

Name
Edward Curran
Title
Director
Phone
7049078629
Signed
2022-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John W Lassiter
Formed
2018
Legal Domicile
Nc
Voting Board Members
3
Independent Board Members
3
Employees
1
Volunteers
0

Preparer

Firm
Parsons CPA PLLC
Address
927 East Boulevard, Charlotte, NC 28203
Preparer
Jonathan B Dean CPA
Phone
7043324000
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“A final version of the 990 will be provided upon request to all board members in the office for approval and filing.”

Pt VI, Line 12C

“The Organization adheres to a conflict of interest policy which requires disclosure of any potential conflicts.”

Pt VI, Line 15A

“Top level compensation was determined by the Co-Chairs using industry standards with Executive board review and approval.”

Other

“Pt I, Line 1(continued): ...economic development, community improvement, employment growth and the overall economic well-being of Charlotte and the citizens of North and South Carolina. As the Host Committee of the 2020 Republican National Convention, CLT Host 2020, Inc. seeks to lessen the burden of state, county, and local government in the planning and execution of the convention and related events by raising needed funds from non-government entities and providing goods, services, facilities, infrastructure, and community improvements of a nonpartisan nature and on a nonpartisan basis.”

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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt018270128
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt02998324
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt044603173
IRS990ScheduleA/TotalSupportAmt044802917
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11894
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt20
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NC Unemployment Tax Payable
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Health Insurance Liability
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Federal Withholding Taxes Payable
IRS990ScheduleD/TotalLiabilityAmt01894
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt0300000
IRS990ScheduleI/RecipientTable/CashGrantAmt1150000
IRS990ScheduleI/RecipientTable/CashGrantAmt2200000
IRS990ScheduleI/RecipientTable/CashGrantAmt31000000
IRS990ScheduleI/RecipientTable/CashGrantAmt4100000
IRS990ScheduleI/RecipientTable/CashGrantAmt571250
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0ECONOMIC DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1ECONOMIC DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2ECONOMIC DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3ECONOMIC DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4ECONOMIC DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5ECONOMIC DEVELOPMENT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0(1) City of Charlotte
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1(2) CLT IG 2025 INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2(3) Charlotte Regional Business Alliance Foundation
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3(4) Foundation For The Carolinas
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4(5) Trail of History Incorporated
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt5(6) North Carolina Economic Development Association Foundation Inc
IRS990ScheduleI/RecipientTable/RecipientEIN0566000319
IRS990ScheduleI/RecipientTable/RecipientEIN1863295520
IRS990ScheduleI/RecipientTable/RecipientEIN2562227354
IRS990ScheduleI/RecipientTable/RecipientEIN3566047886
IRS990ScheduleI/RecipientTable/RecipientEIN4270978923
IRS990ScheduleI/RecipientTable/RecipientEIN5854233724
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0600 E Fourth Street
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1100 N Tryon Street Suite 4700
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2PO Box 20103
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt3220 N Tryon Street
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt44350 Congress Street No 900
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt51176 Harp Street
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Charlotte
IRS990ScheduleI/RecipientTable/USAddress/CityNm1Charlotte
IRS990ScheduleI/RecipientTable/USAddress/CityNm2Charlotte
IRS990ScheduleI/RecipientTable/USAddress/CityNm3Charlotte
IRS990ScheduleI/RecipientTable/USAddress/CityNm4Charlotte
IRS990ScheduleI/RecipientTable/USAddress/CityNm5Raleigh
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NC
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IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2NC
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IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd4NC
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd5NC
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IRS990ScheduleI/RecipientTable/USAddress/ZIPCd328202
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IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
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IRS990/ScheduleJRequiredInd0true
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt10
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt1171600
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Kimberly L Bowman
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1John W LassiterCLS Advisory Service
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0109559
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1171600
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt10
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0CLS Advisory Services LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Director/Consultant
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0171600
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Administration Consulting
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A final version of the 990 will be provided upon request to all board members in the office for approval and filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Organization adheres to a conflict of interest policy which requires disclosure of any potential conflicts.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Top level compensation was determined by the Co-Chairs using industry standards with Executive board review and approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Pt I, Line 1(continued): ...economic development, community improvement, employment growth and the overall economic well-being of Charlotte and the citizens of North and South Carolina. As the Host Committee of the 2020 Republican National Convention, CLT Host 2020, Inc. seeks to lessen the burden of state, county, and local government in the planning and execution of the convention and related events by raising needed funds from non-government entities and providing goods, services, facilities, infrastructure, and community improvements of a nonpartisan nature and on a nonpartisan basis.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NC
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt04656803
IRS990/TotalAssetsEOYAmt02898616
IRS990/TotalAssetsGrp/BOYAmt04656803
IRS990/TotalAssetsGrp/EOYAmt02898616
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,898,616
Liabilities
$7,359
Net assets
$2,891,257
Revenue
$594,290
Expenses
$2,358,438
Net income
-$1,764,148
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.44$0.01$2.43$0.00$0.47$0.47
2021Detailed filing. Detailed filing data is available for this year.$2.90$0.01$2.89$0.59$2.36$1.76
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.66$0.00$4.66$23.5$31.5$8.02
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.7$1.00$12.7$18.4$7.94$10.5
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.25$0.04$2.22$3.00$0.78$2.22