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.”

“Director lou boos is president of nordic engineering which is a supplier to meadwestvaco. Director harry k. Sideris is executive vice president, customer experience, solutions and services, duke energy. The foundation is exploring a solar energy project at hofmann forest. Mr. Sideris has recused himself from all matters related to this project.”

“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.”

“Increase in value of split interest agreement -296,087.”

“Process has not changed from prior year.”

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