2024-08-08T10:05:27-05:00 2023-09-30 991856619 GRANT THORNTON ADVISORS LLC 1415 VANTAGE PARK DRIVE SUITE 500 CHARLOTTE NC 28203 990 2022-10-01 200946449 CHARLOTTE HORNETS FOUNDATION INC CHAR 7046889000 333 EAST TRADE STREET CHARLOTTE NC 28202 JAMES H DUNLEVY TREASURER 7046889000 2024-08-08 1 1 MICHELE N MELCHIOR P00488037 7046323500 2022 2024-08-08 14:25:15Z JAMES H DUNLEVY CPA 333 EAST TRADE STREET CHARLOTTE NC 28202 1804768 0 X WWW.NBA.COM/HORNETS/FOUNDATION X 2004 NC THE FOUNDATION SUPPORTS THE ENRICHMENT OF THOSE IN NEED, ESPECIALLY (CONTINUED IN SCH O) CHILDREN, IN THE CHARLOTTE AREA THROUGH COMMUNITY OUTREACH AND SUPPORTING OTHER ORGS WITH SIMILAR GOALS. 4 0 0 40 0 0 595624 1551076 0 0 0 37596 -184895 -242487 410729 1346185 267497 387625 0 0 0 0 0 0 5819 9336 11669 276833 399294 133896 946891 931076 1909998 284530 316561 646546 1593437 X THROUGH THE INVESTMENT OF TIME, TALENTS, AND TREASURE, THE CHARLOTTE HORNETS FOUNDATION WILL SUPPORT, PROMOTE, AND ENHANCE IMPORTANT COMMUNITY EFFORTS THAT ENRICH THE QUALITY OF LIFE FOR THOSE IN NEED, ESPECIALLY CHILDREN AND YOUTH (CONTINUED IN SCH O)IN THE CHARLOTTE AREA. THE FOUNDATION WILL SUPPORT ELIGIBLE 501(C)(3) ORGANIZATIONS THAT DELIVER PROGRAMS THAT IMPACT LITERACY AND EDUCATION, THE MILITARY, FITNESS AND WELLNESS, AND HUNGER, AND RUN PROGRAMS THAT HAVE THE SAME AIM. 0 0 387625 387625 0 GENERALLY, THE FOUNDATION USED ITS RELATIONSHIP WITH THE PLAYERS, COACHES, AND MANAGEMENT OF THE CHARLOTTE HORNETS NBA TEAM AS A PLATFORM TO RAISE FUNDS AND DRIVE AWARENESS ABOUT THE IMPORTANCE OF EDUCATION, HEALTH AND FITNESS, MILITARY CARE AND HUNGER. GRANT MAKINGGRANT MAKING WAS THE FOUNDATION'S WAY OF DEMONSTRATING AND DISPLAYING THE FOUNDATION'S COMMITMENT TO THE PRIORITIES OF THE ORGANIZATION AND COMMUNITY IT SERVES. THE FOUNDATION USES ITS COMMUNITY CONTACTS TO IDENTIFY PROGRAMS THAT HAVE THE LARGEST IMPACT TO THE FOUNDATION'S MISSION. GRANTS TO THE FOUNDATION FOR THE CAROLINAS, THE MILITARY'S INDEPENDENCE FUND, THE ANGELS AND SPARROWS' (CONTINUED IN SCH O)FOOD ASSISTANCE PROGRAM, THE NEST ACADEMY, AND THE YMCA. 387625 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 4 0 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 NC X JAMES H DUNLEVY CPA 7046888933 333 EAST TRADE STREET CHARLOTTE NC 28202 X MICHAEL JORDAN DIRECTOR, CHAIRMAN 1.00 18.00 X X 0 0 0 FRED WHITFIELD DIRECTOR, VICE CHAIRMAN 1.00 39.00 X X 0 0 0 JAMES JORDAN DIRECTOR, PRESIDENT 1.00 39.00 X X 0 0 0 JAMES H DUNLEVY DIRECTOR, TREASURER 2.00 38.00 X X 0 0 0 BETSY MACK EXECUTIVE DIRECTOR 40.00 0.00 X 0 178157 10867 0 178157 10867 0 0 1 0 0 582000 969076 100616 1551076 37596 37596 177990 582000 420477 -242487 -242487 38106 38106 0 1346185 0 0 -204891 357625 357625 30000 30000 5850 5850 MISCELLANEOUS EXPENSE 5819 5819 399294 387625 5850 5819 875252 1836818 55824 73180 931076 1909998 6780 50311 277750 266250 284530 316561 X 0 0 0 0 646546 1593437 646546 1593437 931076 1909998 946891 0 X 0 0 0 X 808384 514232 170906 595625 1551076 3640223 808384 514232 170906 595625 1551076 3640223 360156 3280067 17338 19463 9 0 37596 74406 277956 72019 3165 131954 216096 701190 4415819 0.74280 0.67290 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS REVENUE - 2018 AMOUNT: $ 15,535. 2019 AMOUNT: $ 19. 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 44,590. 2022 AMOUNT: $ 38,106. EVENT REVENUE - 2018 AMOUNT: $ 262,421. 2019 AMOUNT: $ 72,000. 2020 AMOUNT: $ 3,165. 2021 AMOUNT: $ 87,364. 2022 AMOUNT: $ 177,990. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED MY HERO GALA 714248 582000 132248 97967 286607 RIDE @ HIVE 26192 26192 10375 5978 1 19550 19550 19550 759990 582000 177990 108342 312135 420477 -242487 1 FOUNDATION FOR THE CAROLINAS 220 NORTH TRYON STREET CHARLOTTE NC 28202 566047886 501(C)(3) 50000 0 COMMUNITY DEVELOPMENT THE NEST 3200 MCKEE ROAD CHARLOTTE NC 28270 813637711 501(C)(3) 26450 0 EDUCATION ANGELS AND SPARROWS SOUP KITCHEN GRANT 15016 N OLD STATESVILLE RD HUNTERSVILLE NC 28078 320200979 501(C)(3) 26260 0 HUNGER YMCA OF GREATER CHARLOTTE 400 E MOREHEAD STREET CHARLOTTE NC 28202 561045299 501(C)(3) 25000 0 WELLNESS INDEPENDENCE FUND 412 LOUISE AVE CHARLOTTE NC 28204 260322088 501(C)(3) 20000 0 MILLITARY SECOND HARVEST FOOD BANK - BACKPACKS FOR HUNGER 500 SPRATT ST B CHARLOTTE NC 28206 561352593 501(C)(3) 15000 0 HUNGER MUGGSY BOGUES FAMILY FOUNDATION PO BOX 1884 MATTHEWS NC 28106 462043035 501(C)(3) 15000 0 HUNGER AMERICAN HEART ASSOCIATION 128 S TRYON ST 1588 CHARLOTTE NC 28202 135613797 501(C)(3) 12500 0 WELLNESS UNCF - MAYORS BALL SPONSORSHIP 1805 7TH STREET NW WASHINGTON DC 20001 131624241 501(C)(3) 12500 0 EDUCATION SPEEDWAY CHILDREN CHARITIES - GALA 5555 CONCORD PARKWAY SOUTH NO 30 CONCORD NC 28027 561331429 501(C)(3) 10000 0 CHILDREN JUNIOR ACHIEVEMENT 1701 N GRAHAM ST 100 CHARLOTTE NC 28206 560672085 501(C)(3) 10000 0 EDUCATION 11 0 EDUCATIONAL SCHOLARSHIPS 3 30000 PART I, LINE 2: THE FOUNDATION HAS VARIOUS PROCEDURES IN PLACE FOR MONITORING THE USE OF GRANT FUNDS IN THE UNITED STATES. THESE PROCEDURES VARY DEPENDING ON THE ORGANIZATIONS. EXAMPLES OF HOW THE FOUNDATION MONITORS GRANTS INCLUDE BUT ARE NOT LIMITED TO: HAVING RECIPIENTS SIGN A LETTER OF UNDERSTANDING WITH RESPECT TO THE USE OF FUNDS, CONDUCTING FOLLOW-UP INTERVIEWS WITH THE PROGRAM DIRECTORS, AND REQUIRING VARIOUS GRANTEES TO PROVIDE THE FOUNDATION WITH REPORTS. THE FOUNDATION IDENTIFIES POTENTIAL SCHOLARSHIP CANDIDATES THROUGH ITS WORK WITH COMMUNITY ORGANIZATIONS. THE FOUNDATION MAINTAINS CONTINUOUS CONTACT WITH STUDENTS TO ENSURE ELIGIBILITY CRITERIA CONTINUE TO BE MET TO QUALIFY FOR FUNDING. 0 0 0 0 0 0 0 0 0 BETSY MACK EXECUTIVE DIRECTOR 0 131259 0 46667 0 231 0 4138 0 6729 0 189024 0 0 X AUCTION ITEMS 50 62510 FMV X SPORTS MEMORABILIA 25 38106 FMV 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 THE VICE CHAIRMAN, PRESIDENT, EXECUTIVE DIRECTOR, TREASURER AND CHAIRMAN ALL HAVE BUSINESS RELATIONSHIPS. THE PRESIDENT AND CHAIRMAN HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B THE TREASURER COMPILES THE INFORMATION FOR THE TAX SERVICE PROVIDER, GRANT THORNTON ADVISORS LLC. GRANT THORNTON ADVISORS LLC IN TURN, PREPARES THE RETURN AND REVIEWS IT WITH THE TREASURER. THE TREASURER TAKES THE RETURN TO THE FOUNDATION'S EXECUTIVE DIRECTOR AND PROVIDES THE NECESSARY EXPLANATIONS. THE EXECUTIVE DIRECTOR PERFORMS A HIGHLY DETAILED REVIEW AND COMPLETES HIS/HER UNDERSTANDING BY POSING FOLLOW-UP QUESTIONS TO THE TREASURER. ONCE EDITS HAVE BEEN MADE AND THE 990 HAS BEEN FINALIZED, THE EXECUTIVE DIRECTOR PRESENTS THE 990 TO THE BOARD OF DIRECTORS. THE 990 IS SUBMITTED TO THE IRS ONLY AFTER THE BOARD HAS APPROVED THE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CHARLOTTE HORNETS FOUNDATION, INC. HAS IMPLEMENTED A WRITTEN CONFLICT OF INTEREST POLICY. THE POLICY APPLIES TO ALL PERSONS IN A POSITION TO INFLUENCE THE AFFAIRS OF THE CORPORATION INCLUDING WITHOUT LIMITATION, OFFICERS, DIRECTORS, ANY PERSON DESCRIBED AS MANAGEMENT PERSONNEL, ANY PERSON WHO MAKES PURCHASING DECISIONS ON BEHALF OF THE CORPORATION AND ANY PERSON WHO HAS PROPRIETARY INFORMATION (EACH INTERESTED PERSON). IMMEDIATE FAMILY MEMBERS OF INTERESTED PERSONS AND ENTITIES IN WHICH ANY INTERESTED PERSON HAS A 30% OWNERSHIP INTEREST ALSO ARE COVERED BY THIS POLICY. AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF HIS OR HER FINANCIAL INTEREST AND MUST BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS, AND MEMBERS OF COMMITTEES WITH BOARD DELEGATED POWERS, CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER AN INTERESTED PERSON DISCLOSES A FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, THE INTERESTED PERSON MUST LEAVE THE BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS DECIDE IF A CONFLICT OF INTEREST EXISTS. A CONFLICT OF INTEREST ALWAYS EXISTS WHEN A VOTING MEMBER RECEIVES COMPENSATION DIRECTLY FROM THE CORPORATION. IF IT IS DECIDED THAT A CONFLICT OF INTEREST EXISTS, THE INTERESTED PERSON MAY MAKE A PRESENTATION AT THE BOARD OR COMMITTEE MEETING. AFTER SUCH PRESENTATION, HE/SHE MUST LEAVE THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON, THE TRANSACTION OR ARRANGEMENT THAT RESULTS IN THE CONFLICT OF INTEREST. THE CHAIRPERSON OF THE BOARD OR COMMITTEE THEN, IF APPROPRIATE, APPOINTS A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE (AT LEAST 3 COMPARABLE QUOTES, IF APPLICABLE), THE BOARD OR COMMITTEE DETERMINES WHETHER THE CORPORATION CAN OBTAIN A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT WITH REASONABLE EFFORTS FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY ATTAINABLE, THE BOARD OR COMMITTEE DETERMINES BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE CORPORATION'S BEST INTEREST AND FOR ITS OWN BENEFIT AND WHETHER THE TRANSACTION IS FAIR AND REASONABLE TO THE CORPORATION. THE BOARD OR COMMITTEE MAKES ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT IN CONFORMITY WITH SUCH DETERMINATION. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION IS PROVIDED BY THE RELATED ORGANIZATION. SEE THE RESPONSE TO FORM 990, PART VII FORM 990, PART VI, SECTION C, LINE 19 ALL DOCUMENTS (GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, & FINANCIAL STATEMENTS) ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VII COMPENSATION THE EXECUTIVE DIRECTOR IS AN EMPLOYEE OF, AND HER COMPENSATION IS PROVIDED ENTIRELY BY, THE RELATED ORGANIZATION FOR SERVICES PROVIDED TO THIS ORGANIZATION. THESE SERVICES WERE DONATED TO THE FOUNDATION. HORNETS BASKETBALL HOLDINGS LLC 333 E TRADE STREET CHARLOTTE NC 28202 770605807 SUPPORT STAFF DE N/A 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0