The Golden Leaf Inc

“The foundation is governed by a board of directors comprised of fifteen directors. Five directors are appointed by the governor of the state of north carolina. Five directors are appointed by the president pro tempore of the north carolina senate. Five directors are appointed by the speaker of the north carolina house of representatives.”

“The foundation may not dispose of assets pursuant to the provisions of section 55a-12-02 of the north carolina general statutes without the approval of the north carolina general assembly. The foundation shall consult with the joint legislative commission on governmental operations prior to submitting articles of amendment to the secretary of state.”

“A copy of the form 990 was provided to each member of the foundation's board of directors. The audit committee of the board and the board reviewed the form 990 and authorized staff to file.”

“The foundation's board of directors and committees meet approximately six times per year. At each such meeting, or group of meetings, directors are asked to confirm their disclosure or make any new disclosures. When a director discloses an interest in a proposed transaction, the director does not participate in the discussion concerning, or the vote upon, the proposed transaction.”

“The personnel committee of the board of directors reviewed salary and benefit information for positions comparable to the president at other north carolina foundations and endowments and reviewed the results of a salary study of nonprofit salaries prior to making a recommendation to the board regarding the president's salary and benefits. The board approved the salary and benefits of the president.”

“The organization makes its governing documents and conflict of interest policy available upon request. The financial statements are made available on the organization's website and upon request.”

“The primary purpose for which this corporation was formed is to promote the social welfare and lessen the burdens of government by receiving and distributing funds to be used to provide economic impact assistance to economically affected or tobacco-dependent regions of north carolina. In accordance with the consent decree and final judgment in state of north carolina v. Phillip morris incorporated, et al., 98 cvs 14377. Activities in which the corporation may engage in the state of north carolina include, but are not limited to, the following: 1. Education assistance - provision of funds for educational programs for tobacco farmers and other workers impacted or projected to be impacted by the decline in demand for and/or production of tobacco or tobacco products. 2. Job training and employment assistance - provision of loans and grants, to be used for job training and other employment-related programs to organizations assisting tobacco farmers and other workers dependent on tobacco farming, production, and sales to transition to other sources of income. 3. Scientific research - provision of funding for scientific research to develop new uses for tobacco or for the development of alternative cash crops. 4. Economic hardship assistance - provision of direct grants, loans, and other assistance programs to alleviate economic hardship, poverty or need experienced by tobacco farmers, quota owners, their families and others as a result of decline in quota and/or production of tobacco or tobacco products. 5. Public works and industrial recruitment - provision of grants and loans to local governments for upgrading utilities, transportation, and other public service infrastructure to attract new businesses or for more general economic development purposes. 6. Health and human services - provision of funding for improved health care and other social services needed to maintain the stability of tobacco-dependent communities. 7. Community assistance - provision of direct grants and loans to economically depressed and deteriorating tobacco-dependent communities to be used exclusively for public purposes.”

“CANCELLED GRANTS - 75965670; Total - 75965670;”

“The foundation's single audit is due by march 31, 2026 and will be completed by the due date.”

“The process has not changed from the prior year.”