Charlotte Pride INC EIN 56-2225983

Charlotte Pride INC

EIN  56-2225983 Public charity (501(c)(3)) Charlotte, NC
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Size
$1–10M
What they do
Enriches, empowers, and strengthens LGBTQ lives through programs and activities in Charlotte.
Leadership
Meredith Thompson · Managing Director · $62K
Money in and out
$1.0M revenue, $1.2M expenses
Bottom line
64% program efficiency

Enriches, empowers, and strengthens LGBTQ lives through programs and activities in Charlotte. For fiscal year 2024 it reported $1.0M in revenue, $1.2M in expenses, and $204K in net assets.Pt I

Where the money goes · FY2024
Total revenue
$1.0M
Pt VIII · Ln 12
Total expenses
$1.2M
Pt IX · Ln 25
Net assets
$204K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$159K
Where spending went · Part IX cols B–D
Program services $0.64 Management & general $0.36
Program efficiency
64%
of spending reaches programs▼ -7% vs prior filing year
Operating runway
2.4mo
months of highly liquid reserves at operating expense rate▼ -52% vs prior filing year
Surplus margin
-15%
revenue over expenses, this year▼ -512% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$1.0M
FY2024▲ +5%
Expenses
$1.2M
FY2024▲ +26%
Total assets
$241K
FY2024▼ -40%
Total liabilities
$36K
FY20240%
Total revenue
$1.0M
Pt VIII · Ln 12
Total expenses
$1.2M
Pt IX · Ln 25
Net assets
$204K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$159K
Total assetsPt X · Ln 16$241K
Program-expense ratioPt IX · col B64%
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 46
Mission & Programs · Part III

Where the work happens

1 program service account for $772K of program spending, described in the organization's own filed words · FY2024.
01

Festival and Parade

Charlotte pride produces a two-day educational, ARTISTIC/CULTURAL, and entertainment street festival attracting over 250,000 LGBTQ and ally people from the charlotte region and beyond. The festival exposes local community service organizations, non-profits, small business owners, and corporate partners to potential volunteers, donors…

$772Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CCharlotte Pride INC
EINHdr · item D56-2225983
Principal addressHdr · item CCharlotte, NC
WebsiteHdr · item Jwww.charlottepride.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCivil Rights & Advocacy (R26)
Ruling yearIRS BMFMay 2013

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a6
Independent voting membersPt VI · Ln 1b6
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15a
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Managing Director
$62,280Pt VII · Sec A
Communications Manager
$56,098Pt VII · Sec A
Programs Coordinator
$47,885Pt VII · Sec A
Operations & Finance Manager
$27,400Pt VII · Sec A
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Meredith Thompson’s $62K as Managing Director is at the 8th percentile of top reported officer pay among 796 $1–10M civil rights & advocacy nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

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Statement of Revenue

Part VIII
Program service revenue$560K · 54%
Contributions & grants$481K · 46%
Program service revenue54%$560K
Contributions & grants46%$481K
Investment income$2K
Total revenueLn 12$1.0M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.64 Management & general $0.36
Program services64%$772K
Management & general36%$429K
Total functional expensesLn 25$1.2M

Balance Sheet

Part X · end of year
CashLn 1$241K
Total assetsLn 16$241K
Total liabilitiesLn 26$36K
Total net assetsLn 32$204K
Months of cash on handcomputed2.4

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $241K · Operating expenses/yr $1.2M
2.4 months
Where the money goes
Program services
Program services $772K · Total expenses $1.2M
64%
Management & General
Management & general $429K · Total expenses $1.2M
36%
Fundraising
Fundraising $0 · Total expenses $1.2M
0%
Cost to raise $1
Fundraising expense (3-yr avg) $51K · Solicited contributions (3-yr avg) $635K
$0.08 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $481K · Total revenue $1.0M
46%
Government reliance
Government grants — · Total revenue $1.0M
Earned-income share
Program service revenue $560K · Total revenue $1.0M
54%
Investment reliance
Investment income $2K · Total revenue $1.0M
0%
Program self-sufficiency
Program service revenue $560K · Total expenses $1.2M
47%
Growth & trend
Revenue growth (YoY)
This year $1.0M · Prior year $993K
+5%
Revenue CAGR
FY2020 $251K · FY2024 $1.0M
+43%
Net-asset trend (YoY)
End of year $204K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.0M · Expenses $1.2M
-15%
Liabilities-to-Assets
Total liabilities — · Total assets $241K
Net-asset ratio
Net assets $204K · Total assets $241K
85%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $241K
0%
People & payroll
Highest Reported Total Compensation
Individual Meredith Thompson · Reported title Managing Director · Highest reported compensation $62K · Total expenses $1.2M
5%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $212K · Total expenses $1.2M
18%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 64%
Overhead ratio 36%
Fundraising cost ratio 0%
Revenue growth 5%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 1%
Fundraising fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 2 funders$18K
Grants paid · 2 grants · $52K · 2023–2024
Unitemized GrantFY2024$39,788
Unitemized GrantFY2023$11,980

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$1.0M revenue · viewing · ⤓ 990 PDF
FY2023$993K revenue · ⤓ 990 PDF
FY2022$976K revenue · ⤓ 990 PDF
FY2021$542K revenue · ⤓ 990 PDF
FY2020$251K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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