Civic Intelligence

The Golden L E a F Long-Term Economic Advancement Foundation In

990 • Fiscal year 2015 • EIN 52-2204473

Jul 01, 2014 to Jun 30, 2015 • Filed on Oct 06, 2015

Organization Profilewww.goldenleaf.org

Refreshing map…

301 N Winstead AvenueRocky Mount, NC 27804

(252) 442-7474

Siviq Scores

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

Liabilities / Assets

16th percentile

0.07x

Higher debt load relative to assets than 16% of similar nonprofits.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2015

Liabilities / Revenue

87th percentile

1.86x

Higher debt load relative to revenue than 87% of similar nonprofits.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2015

Net Margin

9th percentile

-7.5%

Higher net margin than 9% of similar nonprofits.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2015

Top Officer Pay

5th percentile

$231,586

Higher top officer pay than 5% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2015

Asset Growth

26th percentile

-1.6%

Faster asset growth than 26% of similar nonprofits.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2014 to 2015

Revenue Growth

12th percentile

-12%

Faster revenue growth than 12% of similar nonprofits.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets16th percentile

Assets

Down

$941,156,934

Down $15,692,140 (-1.6%) from 2014

Net Assets

Down

$871,662,110

Down $10,155,699 (-1.2%) from 2014

Liabilities

Down

$69,494,824

Down $5,536,441 (-7.4%) from 2014

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin9th percentile

Revenue

Down

$37,322,055

Down $5,245,570 (-12%) from 2014

Expenses

Down

$40,128,250

Down $21,687,401 (-35%) from 2014

Net Income

Up

-$2,806,195

Up $16,441,831 (+85%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth26th percentile

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

$2.0B$1.5B$1.0B$500M$0Assets 2011: $793,585,382Liabilities 2011: $92,950,403Net Assets 2011: $700,634,9792011Assets 2012: $793,382,903Liabilities 2012: $84,625,928Net Assets 2012: $708,756,9752012Assets 2013: $897,044,517Liabilities 2013: $87,667,715Net Assets 2013: $809,376,8022013Assets 2014: $956,849,074Liabilities 2014: $75,031,265Net Assets 2014: $881,817,8092014Assets 2015: $941,156,934Liabilities 2015: $69,494,824Net Assets 2015: $871,662,1102015Assets 2016: $916,425,827Liabilities 2016: $67,996,660Net Assets 2016: $848,429,1672016Assets 2017: $1,038,999,385Liabilities 2017: $171,651,037Net Assets 2017: $867,348,3482017Assets 2018: $1,129,837,199Liabilities 2018: $201,052,429Net Assets 2018: $928,784,7702018Assets 2019: $1,192,806,381Liabilities 2019: $196,863,993Net Assets 2019: $995,942,3882019Assets 2020: $1,207,394,628Liabilities 2020: $234,080,022Net Assets 2020: $973,314,6062020Assets 2021: $1,379,237,142Liabilities 2021: $154,263,791Net Assets 2021: $1,224,973,3512021Assets 2022: $1,203,014,453Liabilities 2022: $218,513,934Net Assets 2022: $984,500,5192022Assets 2023: $1,292,166,073Liabilities 2023: $214,502,164Net Assets 2023: $1,077,663,9092023Assets 2024: $1,403,937,165Liabilities 2024: $245,570,768Net Assets 2024: $1,158,366,3972024Assets 2025: $1,527,467,982Liabilities 2025: $199,859,409Net Assets 2025: $1,327,608,5732025

Highlighted filing

2015

Assets$941,156,934
Liabilities$69,494,824
Net Assets$871,662,110
Open 2015 Filing

Operations Trend

Revenue Growth12th percentile

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

$200M$100M$0-$100MExpenses 2011: $47,687,7082011Revenue 2012: $93,252,006Expenses 2012: $67,123,679Net Income 2012: $26,128,3272012Expenses 2013: $110,165,8682013Revenue 2014: $42,567,625Expenses 2014: $61,815,651Net Income 2014: -$19,248,0262014Revenue 2015: $37,322,055Expenses 2015: $40,128,250Net Income 2015: -$2,806,1952015Revenue 2016: $31,281,508Expenses 2016: $39,104,679Net Income 2016: -$7,823,1712016Revenue 2017: $87,246,987Expenses 2017: $138,890,436Net Income 2017: -$51,643,4492017Revenue 2018: $106,921,396Expenses 2018: $78,672,488Net Income 2018: $28,248,9082018Revenue 2019: $104,363,176Expenses 2019: $64,903,877Net Income 2019: $39,459,2992019Revenue 2020: $85,126,149Expenses 2020: $79,357,817Net Income 2020: $5,768,3322020Revenue 2021: $181,900,922Expenses 2021: $141,559,804Net Income 2021: $40,341,1182021Revenue 2022: $127,682,126Expenses 2022: $133,047,066Net Income 2022: -$5,364,9402022Revenue 2023: $57,758,666Expenses 2023: $63,535,535Net Income 2023: -$5,776,8692023Revenue 2024: $79,124,718Expenses 2024: $127,468,546Net Income 2024: -$48,343,8282024Revenue 2025: $171,537,614Expenses 2025: $169,872,591Net Income 2025: $1,665,0232025

Highlighted filing

2015

Revenue$37,322,055
Expenses$40,128,250
Net Income-$2,806,195
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Oct 6, 2015
Return Version
2014v5.0
Gross Receipts
$223,824,116
Mission and Program Overview

Mission

Golden leaf's mission is to promote the social welfare of north carolina's citizens and to receive and distribute funds for economic impact assistance to economically affected or tobacco-dependent regions of north carolina.

SEE PART III, LINE 1

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$881,817,809$871,662,110▼ $10,155,699
Investments Other Securities$560,045,710$656,056,896▲ $96,011,186
Investments in Publicly Traded Securities$395,849,553$284,367,133▼ $111,482,420
Cash and Non-Interest-Bearing Accounts$636,364$423,895▼ $212,469
Other Notes and Loans Receivable, Net$227,568$203,318▼ $24,250
Prepaid Expenses and Deferred Charges$89,554$100,582▲ $11,028
Accounts Receivable$325$5,110▲ $4,785
Savings and Temporary Cash Investments$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Land, Buildings, and Equipment, Net$0--
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$956,849,074$941,156,934▼ $15,692,140
Other Assets Total$0$0→ $0
Liabilities
Grants Payable$74,896,696$69,359,585▼ $5,537,111
Accounts Payable and Accrued Expenses$134,569$135,239▲ $670
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$75,031,265$69,494,824▼ $5,536,441
Net Assets / Fund Balance
Total Net Assets Fund Balance$881,817,809$871,662,110▼ $10,155,699
Total Liabilities and Net Assets / Fund Balance$956,849,074$941,156,934▼ $15,692,140

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$12,062,781--
Compensation and Service Providers
Top Officer Pay5th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Daniel J GerlachPresidentFT$192,284$39,302$231,586
Peter J CeraVP InvestmentsFT$157,474$52,693$210,167
Mark a SorrellsSenior Vice PresidentFT$172,178$33,682$205,860
Edward P LordVP Programs/staff AttorneyFT$113,053$30,842$143,895
Patricia Cabe-cantrellVP Programs/comm. Asst. & OutrFT$114,183$26,782$140,965
Beth a EdmondsonControllerPT$95,775$23,636$119,411
Barry Z DodsonVice Chair-$1,352-$1,352
Britt CobbDirector-$1,352-$1,352
Ralph StrayhornDirector-$1,248-$1,248
Randy IsenhowerSecretary-$1,144-$1,144
S Lawrence DavenportTreasurer-$1,040-$1,040
Johnathan RhyneChairPT$936-$936
Billy Ray HallAsst Secretary-$936-$936
David L RoseDirector-$936-$936
Jerome VickDirector-$832-$832
Carolyn JusticeDirector-$728-$728
Dr James H JohnsonDirector-$728-$728

Board Members and Trustees

NameTitle
Claudine GibsonDirector
David M StoverDirector
Don FlowDirector
Murchison BiggsDirector
Tom TaftDirector
Tommy HesterDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
DrzInvestment Mngmt250 Park Ave South suite 250, Winter Park, FL 32789$500,048
Silchester INternational INvestorsInvestment Mngmt780 Third Ave 42nd floor, New York, NY 10017$478,825
Artisan PartnersInvestment Mngmt5 Concourse Parkway Suite 2120, Atlanta, GA 30328$289,928
Prime Buchholz Associates IncInvest. consulting25 Chestnut Street, Portsmouth, NH 03801$279,847
Stralem Company IncInvest. mgmt.645 madison ave 13th floor, New York, NY 10022$241,926
Revenue and Support

Revenue Composition

Contributions and Grants
$513,851
Program Service Revenue
$0
Investment Income
$36,798,924
Other Revenue
$9,280
All Other Contributions
$513,851
Change in Net Assets
$-2,806,195

Audited Revenue Reconciliation

Revenue per Audited Statements
$35,020,060
Revenue Not Reported on Financial Statements
$2,301,995
Revenue Not Reported on Form 990
$-13,337,491
Total Revenue per Audited Statements
$21,682,569
Total Revenue per Form 990
$37,322,055
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$35,362,734
Other Expenses$2,853,072
Salaries, Compensation, and Employee Benefits$1,912,444
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$35,362,734--$35,362,734
Fees for Service Investment Mgmnt Fees-$2,301,995-$2,301,995
Current Officers, Directors, Trustees, and Key Employees$595,993$485,752-$1,081,745
Other Salaries and Wages$419,042$131,773-$550,815
Fees for Services Legal-$170,747-$170,747
Other Employee Benefits$92,788$34,004-$126,792
Payroll Taxes$65,481$33,896-$99,377
Occupancy-$76,536-$76,536
Pension Plan Contributions$40,780$12,935-$53,715
Information Technology-$48,558-$48,558
Travel$33,320$9,220-$42,540
Office Expenses-$39,526-$39,526
Fees for Services Accounting-$39,423-$39,423
Insurance-$21,660-$21,660
Other Expenses-$9,229$0$9,229
Advertising-$7,199-$7,199
All Other Expenses-$2,607-$2,607
Fees for Services Other-$1,500-$1,500
Conferences and Meetings$390--$390
Total Functional Expenses$36,610,528$3,517,722$0$40,128,250

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$40,128,250
Expenses per Audited Statements$31,838,268
Total Expenses per Audited Statements$31,838,268
Expenses Not Reported on Financial Statements$8,289,982
Other Expense Adjustments$5,987,987
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
NC Agricultural FoundationRaleigh, NC501(c)(3)Plant Sciences Initiative - Phase 2$3,000,000
NC State Ed Assistance AuthRtp, NCGov't EntityGolden LEAF Scholars Program 2015-16$2,302,000
Ctr For Creative LeadershipGreensboro, NCGov't EntityGolden LEAF Scholars Leadership Program 2015-2016$2,000,000
East Carolina UniversityGreenville, NCGov't EntityPharmaceutical Development and Manufacturing Cente$1,100,000
Elizabeth City State UnivElizabeth City, NCEducationStrengthening Aviation Education and Workforce in$1,100,000
Hoke County SchoolsRaeford, NCEducationPathways to Health Careers Vehicle Systems for Precision Agriculture$1,000,000
Western Governors UniversitySalt Lake City, UT501(c)(3)Western Governors University North Carolina Facility$1,000,000
Ashe Memorial HospitalJefferson, NC501(c)(3)Increasing Access and Quality of Care in the ED$946,152
Alexander County GovernmentTaylorsville, NCGov't EntityShurtape Wastewater Extension$930,560
Wilkes County SchoolsNorth Wilkesboro, NCEducationProject ADMIT (Advancing Development of Manufactur$900,000
Scotland Memorial FoundationLaurinburg, NC501(c)(3)Scotland Memorial Access to Care Expansion Project$841,800
Town of St Pauls NCSt Pauls, NCGov't EntitySt. Pauls Wastewater System Needs Associated with$820,000
Avery County SchoolsNewland, NCGov't EntityBUILD: Building a Unified Innovative Learning Dist$750,000
Catawba Valley Comm CollegeHickory, NCEducationInnovate Catawba Expansion$750,000
NC Community College SystemRaleigh, NCEducationGolden LEAF Scholars Program - Two-Year Colleges ($750,000
Richmond Community CollegeHamlet, NCGov't EntityRichmond County STEM Transformation$750,000
Sandhills Community CollegePinehurst, NCGov't EntityThe Rural Triad Mechatronics Training Center$750,000
Western Piedmont Comm CollMorganton, NCGov't EntityMechatronics Educational Facility Need in Burke Co Excellence$750,000
Pitt Community CollegeGreenville, NCGov't EntityCreating a Biopharmaceutical Work Force Developmen$650,000
Rockingham County GovernmentWentworth, NCGov't EntityProject Hawk$600,000
Sampson CountyClinton, NCGov't EntityGeneral Support$554,680
City of GreenvilleGreenville, NCGov't EntityProject Revere Interactive and Accessible Instructional Technology$539,445
Bladen Community CollegeDublin, NCEducationSTEM and Advanced Manufacturing Technology Trainin Ennis-Flint$500,000
Mars Hill UniversityMars Hill, NCEducationMars Hill University School of Nursing$500,000
Southeastern Regional MedicalLumberton, NC501(c)(3)SEH Medical Residency School$500,000
City of KannapolisKannapolis, NCGov't EntityProject Jordan$453,300
Blue Ridge Comm Health SvcsHendersonville, NC501(c)(3)BRCHS and Wingate University Rural Healthcare Educ$400,000
Caldwell Community CollegeHudson, NCEducationTechnology, Engineering, and Advanced Manufacturin Researchers$400,000
Montgomery Community CollegeTroy, NCEducationBuilding and Program Expansion Care$400,000
Laurinburg-Maxton AirportMaxton, NCGov't EntityWater & Waste Improvements for Project Smiley Agriscience Workforce$385,900
Sampson Regional Medical CtrClinton, NC501(c)(3)SRMC Family Medicine Residency Program$352,300
Mitchell County SchoolsBakersville, NCEducationInnovative Discovery STEM Education Program$350,000
Alleghany County LibrarySparta, NC501(c)(3)Alleghany County Library Facility Expansion 2014-2015$330,000
Wayne Health Fdn dba WATCHGoldsboro, NC501(c)(3)WATCH Clinical Training Program$321,000
Bladen County SchoolsElizabethtown, NCEducationBladen STEM Academy$300,656
City of LumbertonLumberton, NCGov't EntitySanderson Farms Hatchery Sewer Project$300,000
Martin Community CollegeWilliamston, NCEducationIndustrial Systems Workforce Training$300,000
The City of Kings MountainKings Mountain, NCGov't EntityTurbo & Bulldog Metals (2014-15)$300,000
UNC-Chapel HillChapel Hill, NCEducationFamily Medicine Underserved Residency Track$290,000
Catawba Valley Comm CollegeHickory, NCEducationCatawba Valley Furniture Academy$275,000
Catawba Valley Comm CollegeHickory, NCEducationProject Pegasus WWPS Improvement Project$250,000
City of GrahamGraham, NCGov't EntityMelville Commerce Parkway Extension/Project Quarte$250,000
Town of TarboroTarboro, NCGov't EntityGeneral Foam Plastics Generator Project$250,000
Union Square Campus IncGreensboro, NC501(c)(3)Technology, Partnerships and Advanced Nurse Practi$250,000
Richmond Community CollegeHamlet, NCGov't EntityExpanding the Healthcare Workforce in Scotland Cou$235,343
Western Carolina UniversityCullowhee, NCEducationINPUT: Instructing Nurse Practitioners in Under-se$225,000
Cane Creek Water & Sewer DistHendersonville, NCGov't EntitySewer Expansion Project to Serve Tri-Hishtil$200,000
Caswell County SchoolsYanceyville, NCEducation1:1 Caswell Flow Program Technology Upgrade$200,000
Catawba Valley Comm CollegeHickory, NCEducationKnitting Equipment for Training and New Business S$200,000
Fayetteville Tech Comm CollFayetteville, NCGov't EntityCollision Auto Repair Training & Advancement Initiatives$200,000
Goshen Medical Center IncFaison, NC501(c)(3)GMC Tabor City Healthcare Necrosis in Sweet Potatoes$200,000
Hugh Chatham Memorial HospElkin, NC501(c)(3)High Chatham Urgent Care and Corporate Care Buildi$200,000
Montgomery County SchoolsTroy, NCGov't EntityACCESS: A Culture Creating Effective Systems for S Competitive Manufacturing Technology$200,000
NC New Schools Project IncRaleigh, NC501(c)(3)Innovative Rural Schools Project$200,000
Nash-Rocky Mount Public SchNashville, NCEducationWorkforce Aligned STEM Centers$200,000
Stokes County SchoolsDanbury, NCGov't EntityCharting the Course for Engaged, Literate, Future-$200,000
Town of MaysvilleMaysville, NCGov't EntityGreen Recycling Solutions Sewer Improvements$200,000
Town of NashvilleNashville, NCGov't EntitySIFI Sewer Upgrade Value-Added Enterprise (CAVE)$200,000
Wilson County SchoolsWilson, NCEducationWilson County Schools High School Chromebook Initi$200,000
Wilkes Community CollegeWilkesboro, NCEducationMachining Equipment - Ashe Campus$198,802
Town of ElizabethtownElizabethtown, NCGov't EntityElizabethtown Airport/Industrial Park & Master Pla$197,000
Appalachian State UniversityBoone, NCEducationCollege of Health Sciences Rural Health Outreach C Initiative: Educating for the 21st Century$175,000
Mitchell County SchoolsBakersville, NCEducationThe Mitchell Community Health Education and Suppor$150,000
Oppor Indust Ctr (RMOIC)Rocky Mount, NC501(c)(3)Integrated Medical Home$134,822
Madison County Public SchoolsMarshall, NCEducationMachining in Madison Infrastructure Project$134,000
Town of BurnsvilleBurnsville, NCGov't EntityTown of Burnsville/Yancey County Commercial Park I Learners: 1:1 Laptops for CECHS Students$120,000
Pamlico Community CollegeGrantsboro, NCEducationNew Directions for Electrical Systems Technology i$103,900
Burke CountyMorganton, NCGov't EntityBroughton Hospital Facilities Use Study$100,000
Stokes County Arts CouncilDanbury, NC501(c)(3)Dan River Arts & Visitors Center Hospitality Education Initiative$100,000
Town of RutherfordtonRutherfordton, NCGov't EntityTown of Rutherfordton's Tryon Equestrian Sewer Lin Engineers: A University, Community Colleges, & Industry Collaborative Initiative$100,000
Beaufort Co Comm CollegeWashington, NCEducationAgribusiness Program Implementation & Support Project$97,075
Appalachian Sustainable AgriAsheville, NC501(c)(3)Using Appalachian Grown Branding to Connect Farmer Locally Grown Globally Ready$95,000
Greene County SchoolsSnow Hill, NCEducationProject Greene STEM Leadership in Agriculture$75,000
NC Coastal Land TrustWilmington, NC501(c)(3)Phase 4, Encroachment Partnership with the US Mari Development (HIAMS)$50,000
Town of PollocksvillePollocksville, NCGov't EntityTown of Pollocksville Sewer Main Extension$29,000

International Summary

Spending
$270,758,802

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (Including Iceland and Greenland)Investments---$42,892,017
North AmericaInvestments---$34,138,628
North AmericaInvestments---$28,753,089
Central America and the CaribbeanInvestments---$27,426,793
Central America and the CaribbeanInvestments---$25,598,980
Central America and the CaribbeanInvestments---$23,858,962
Central America and the CaribbeanInvestments---$23,250,017
Central America and the CaribbeanInvestments---$22,958,607
Central America and the CaribbeanInvestments---$21,823,798
Central America and the CaribbeanInvestments---$14,081,344
Central America and the CaribbeanInvestments---$4,009,405
Central America and the CaribbeanInvestments---$757,031
Central America and the CaribbeanInvestments---$608,789
Central America and the CaribbeanInvestments---$601,342
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
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
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
Yes
Management duties delegated
No

Governance Explanations

APPROVAL OF GOVERNING BODY DECiSIONS - FORM 990, PART VI, LINE 6,7A and 7B

“The foundation is governed by a board of directions 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.”

Form 990 Review Process - Form 990, Part VI, Line 11B

“A copy of Form 990 was provided to each member of the foundation's board of directors. The audit committee of the board reviewed the Form 990 and, prior to its filing, recommended approval to the full board.”

Conflicts of Interest - Form 990, Part VI, Line 12C

“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.”

Determining Compensation - Form 990, Part VI, Line 15

“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 North Carolina state agencies 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.”

Availability of Other Documents - Form 990, Part VI, Line 19

“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.”

Disposal of Assets - Form 990, Part VI, Line 7B

“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 may not amend its articles of incorporation without the approval of the north carolina general assembly.”

Filing and Contact Details

Filer

Filer Name
The Golden LEAF Inc
EIN
52-2204473
In Care Of
% BETH EDMONDSON
Phone
2524427474
Address
301 N Winstead Avenue, Rocky Mount, NC 27804

Signing Officer

Name
Daniel J Gerlach
Title
President
Phone
7038930600
Signed
2015-10-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Daniel J Gerlach
Formed
1999
Legal Domicile
Nc
Voting Board Members
15
Independent Board Members
15
Employees
17
Volunteers
0

Preparer

Firm
Bdo USA Llp
Address
8401 GREENSBORO DRIVE 8TH FLOOR, MCLEAN, VA 22102
Preparer
Mike Sorrells
Phone
7038930600
Supplemental Narrative

Additional Explanations

Changes in Net Assets - Form 990, Part XI, Line 9

“Cancelled grants 5,987,987”

Oversight/selection Process - Form 990, Part XII, Line 2C

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

Financial Statement Notes

Form 990, Schedule D, Part XII, Line 4B

“Cancelled grants 5,987,987”

Raw XML AppendixShowing 400 of 1,582 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0The 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.
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IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0-13337491
IRS990/NondeductibleContributionsInd0false

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$941,156,934
Liabilities
$69,494,824
Net assets
$871,662,110
Revenue
$37,322,055
Expenses
$40,128,250
Net income
-$2,806,195
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1,527$200$1,328$172$170$1.67
2024Summary only. Only limited summary data is available for this year.$1,404$246$1,158$79.1$127$48.3
2023Summary only. Only limited summary data is available for this year.$1,292$215$1,078$57.8$63.5$5.78
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,203$219$985$128$133$5.36
2021Summary only. Only limited summary data is available for this year.$1,379$154$1,225$182$142$40.3
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,207$234$973$85.1$79.4$5.77
2019Detailed filing. Detailed filing data is available for this year.$1,193$197$996$104$64.9$39.5
2018Detailed filing. Detailed filing data is available for this year.$1,130$201$929$107$78.7$28.2
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,039$172$867$87.2$139$51.6
2016Detailed filing. Detailed filing data is available for this year.$916$68.0$848$31.3$39.1$7.82
2015Detailed filing. Detailed filing data is available for this year.$941$69.5$872$37.3$40.1$2.81
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$957$75.0$882$42.6$61.8$19.2
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$897$87.7$809$110
2012Summary only. Only limited summary data is available for this year.$793$84.6$709$93.3$67.1$26.1
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$794$93.0$701$47.7
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2015 filings • 501(c)3 • $250M-$1B nonprofits