Nc State Natural Resources Foundation Inc.

“The executive committee shall consist of the president, who shall serve as chair, the vice president, the past president and the chair of each standing committee of the board. The secretary, treasurer and dean, college of natural resouces, will serve ex-officio as nonvoting members of the executive committee. By resolution adopted by a majority of the directors then in office, the board of directors shall, at its regular annual meeting, appoint the members of the executive committee. The executive committee shall have and may exercise, in the interim between meetings of the board of directors, and except as otherwise provided in section 5 of the bylaws, all the powers of the board of directors. Executive committee members appointed by the board shall serve at the pleasure of the board but only for so long as they also serve as directors and maintain their qualifying offices or designations as the case may be.”

“Nordic engineering, mr. Lou boos-president, is a supplier to westrock co. Duke energy, mr. Harry sideris- senior vice president of customer experience and services. The foundation is exploring a solar energy project at hofmann forest. Mr. Sideris has recused himself from all matters related to this project.”

“Certain sections of nc state natural resources foundation, inc.'s bylaws were amended as of september 20, 2019. Article v, section 3(b) was amended as follows: audit and finance committee - the audit and finance committee shall consist of at least three (3) directors as the board may determine and appoint. The audit and finance committee so constituted and appointed shall: i. Recommend the manner in which and the extent to which the funds of the corporation shall be invested from time to time and the making and altering of the investments of the corporation. Ii. Make periodic investment reports to the board of directors; iii. Receive the report of the independent cpa firm that conducts the corporation's annual audit and relevant tax forms to be submitted by the corporation. And iv. Work with the dean to develop a proposed general fund budget for the corporation and shall annually submit such proposed budget with recommendations to the board of directors prior to the new fiscal year. [v. Removed] additionally, article v, section 6(e) was removed.”

“A draft 990 is distributed to board members for their review prior to filing.”

“In order to monitor and enforce compliance with the organization's conflict of interest policy, nc state natural resources foundation follows the following practices: 1) all transactions (other than expense reimbursements) between the foundation and a director, officer, or employee of the foundation, must be authorized and approved by the foundation's board of directors or ratified in good faith by the foundation's board of directors at the subsequent meeting following the transaction. 2) no foundation director, officer, or employee having a direct or indirect interest in any foundation business transaction may be involved in the decision with respect to whether the foundation should enter into such transaction. For purposes of this section, a director, officer or employee has an indirect interest in a transaction if: (a) another entity in which he has a material financial interest or in which he is a general partner is a party to the transaction; or (b) another entity of which he is a director, officer, or trustee is a party to the transaction and the transaction is or should be considered by the board. 3) no scholarship or fellowship award may be made to a director, officer, or employee of the foundation or to a family member of any such person unless the recipient of the award is determined by an independent awards committee.”

“The executive committee of the board of directors also serves as the hr/employee benefits committee. Compensation decisions are recommended to this committee by the director of forest operations for his employees and are brought before the committee for approval. The executive committee recommends, determines, and approves salary and other compensation elements for the director of forest operations, in addition to approving recommendations from the director about his staff.”

“The 990 is listed on the website. Form 1023 (which was filed prior to july 15, 1987) is not publicly available.”

“The audited financial statements are available on the website: http://foundationsaccounting.ofa.ncsu.edu/foundations/nc-state-natural- resources-foundation-inc. Other governing documents are made available upon request.”

“Contracted services: program service expenses 19,389. Management and general expenses 0. Fundraising expenses 18,525. Total expenses 37,914. Printing & binding: program service expenses 13,683. Management and general expenses 0. Fundraising expenses 6,050. Total expenses 19,733. Dues & subscriptions: program service expenses 9,354. Management and general expenses 0. Fundraising expenses 2,156. Total expenses 11,510.”

“Increase in value of split interest agreement 81,028.”

“Http://foundationsaccounting.ofa.ncsu.edu/foundations/nc- state-natural-resources-foundation-inc”