Golden LEAF Foundation is a economic development organization based in Rocky Mount, NC that was founded in 1999. As of 2019 they had $104 million in revenue and $1.1 billion in assets.
Golden LEAF's mission is to increase economic opportunity in North Carolina's rural and tobacco-dependent communities through leadership in grantsmaking, collaboration, innovation, and stewardship as an independent and perpetual foundation.
Previous legal names or variations of their name include: The Golden Leaf.
EIN:
52-2204473
City:
State:
Website:
Phone:
252-442-7474
Founded:
1999
Type:
501(c)(3)
NTEE:
Revenue:
$104,363,176
Assets:
$1,192,806,381
Employees:
17
Fiscal year end:
June
Program areas at Golden LEAF Foundation
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 ...
Form 990s for Golden LEAF Foundation
| Fiscal year ending | Date received by IRS | Form | PDF link |
|---|
| 2019-06 | Jan 22, 2020 | 990 | View PDF |
| 2018-06 | Feb 21, 2019 | 990 | View PDF |
| 2017-06 | Jan 19, 2018 | 990 | View PDF |
| 2016-06 | Apr 12, 2017 | 990 | View PDF |
| 2015-06 | Jan 14, 2016 | 990 | View PDF |
| ...and five more Form 990 PDFs |
Financials for Golden LEAF Foundation
| Field | 2019 | 2018 | % Change |
|---|
| Federated campaigns | $0 | $0 | |
| Membership dues | $0 | $0 | |
| Fundraising event contributions | $0 | $0 | |
| Related organizations | $0 | $0 | |
| Government grants (contributions) | $57,500,000 | $47,500,000 | 21.1% |
| Normal grants, contributions, etc. | $239,692 | $244,750 | -2.1% |
| <em>Non-cash contributions included in above</em> | $0 | $0 | |
| Total grants, contributions, etc. | $57,739,692 | $47,744,750 | 20.9% |
| Field | 2019 | 2018 | % Change |
|---|
| Total grants, contributions, etc. | $57,739,692 | $47,744,750 | 20.9% |
| Program services | $0 | $0 | |
| Investment income and dividends | $16,891,425 | $13,527,254 | 24.9% |
| Tax-exempt bond proceeds | $0 | $0 | |
| Royalty revenue | $0 | $0 | |
| Net rental income | $0 | $0 | |
| Net gain from sale of non-inventory assets | $29,724,619 | $45,644,616 | -34.9% |
| Net income from fundraising events | $0 | $0 | |
| Net income from gaming activities | $0 | $0 | |
| Net income from sales of inventory | $0 | $0 | |
| Miscellaneous revenues | $7,440 | $4,776 | 55.8% |
| Total revenues | $104,363,176 | $106,921,396 | -2.4% |
| Field | 2019 | 2018 | % Change |
|---|
| Grants to govts. and orgs. in USA | $59,453,799 | $72,977,505 | -18.5% |
| Grants to individuals in USA | $0 | $0 | |
| Grants to govts., orgs., and individuals outside USA | $0 | $0 | |
| Benefits paid to or for members | $0 | $0 | |
| Compensation of current officers, etc. | $1,150,089 | $796,863 | 44.3% |
| Compensation not included above, to disqualified persons | $0 | $0 | |
| Non-officer salaries and wages | $606,725 | $938,600 | -35.4% |
| Pension/retirement accruals and contributions | $60,215 | $93,578 | -35.7% |
| Other employee benefits | $141,904 | $185,225 | -23.4% |
| Payroll taxes | $109,036 | $112,344 | -2.9% |
| Management fees | $0 | $0 | |
| Legal fees | $151,289 | $133,560 | 13.3% |
| Accounting fees | $70,000 | $65,000 | 7.7% |
| Lobbying fees | $0 | $0 | |
| Pro. fundraising fees | $0 | $0 | |
| Investment mgmt fees | $2,745,563 | $3,007,349 | -8.7% |
| Other fee-for-service | $26,219 | $0 | 999% |
| Advertising and promotion | $46,525 | $47,555 | -2.2% |
| Office expenses | $35,951 | $31,745 | 13.2% |
| Information tech. expenses | $70,791 | $70,489 | 0.4% |
| Royalty expenses | $0 | $0 | |
| Occupancy | $86,376 | $78,838 | 9.6% |
| Travel | $46,542 | $47,258 | -1.5% |
| Public official travel and entertainment | $0 | $0 | |
| Conferences, meetings, etc. | $0 | $0 | |
| Interest | $0 | $0 | |
| Payments to affiliates | $0 | $0 | |
| Depreciation, amortization, etc. | $0 | $0 | |
| Insurance | $19,225 | $19,791 | -2.9% |
| All other expenses | $83,628 | $66,788 | 25.2% |
| Total expenses | $64,903,877 | $78,672,488 | -17.5% |
| Field | 2019 | 2018 | % Change |
|---|
| Cash (non-interest-bearing) | $1,187,307 | $1,238,843 | -4.2% |
| Savings, short-term investments, etc. | $0 | $0 | |
| Pledges and grants receivable | $0 | $0 | |
| Accounts receivable | $4,535,924 | $62,674 | 7137.3% |
| Loans receivable from officers, directors, etc. | $0 | $0 | |
| Loans receivable from other disqualified persons | $0 | $0 | |
| Notes and loans receivable | $112,230 | $136,870 | -18.0% |
| Inventories for use | $0 | $0 | |
| Prepaid expenses and deferred charges | $112,906 | $111,654 | 1.1% |
| Buildings, equipment, etc. post-depreciation | $0 | $0 | |
| Investments, publicly traded securities | $416,447,598 | $396,087,112 | 5.1% |
| Investments, other securities | $770,410,416 | $732,200,046 | 5.2% |
| Investments, program-related | $0 | $0 | |
| Intangible assets | $0 | $0 | |
| Other assets | $0 | $0 | |
| Total assets | $1,192,806,381 | $1,129,837,199 | 5.6% |
| Field | 2019 | 2018 | % Change |
|---|
| Accounts payable and accrued expenses | $194,338 | $185,817 | 4.6% |
| Grants payable | $196,669,655 | $200,866,612 | -2.1% |
| Deferred revenue | $0 | $0 | |
| Tax-exempt bond liabilities | $0 | $0 | |
| Escrow or custodial account liability | $0 | $0 | |
| Loans payable to officers and disqualified persons | $0 | $0 | |
| Secured mortgages and notes payable to unrelated third parties | $0 | $0 | |
| Unsecured notes and loans payable to unrelated third parties | $0 | $0 | |
| Other liabilities | $0 | $0 | |
| Total liabilities | $196,863,993 | $201,052,429 | -2.1% |
| Field | 2019 | 2018 | % Change |
|---|
| Unrestricted net assets | $0 | $0 | |
| Temporarily restricted net assets | $0 | $0 | |
| Permanently restricted net assets | $0 | $0 | |
Vendors for Golden LEAF Foundation
| Vendor | Services | Amount paid | Date |
|---|
| WordPress | Content management system software | | 2020-02-21 |
| ███ ███ ███ | Tax accounting | | 2018-11-30 |
| ███ | Investment Maintenance | $419,309 | 2018-06-01 |
| █████ ████████ ███ ██████████ | Invest Consulting | $336,395 | 2018-06-01 |
| ██████████ █████████████ █████████ ███ | Investment Maintenance | $556,531 | 2018-06-01 |
| ███ ██████████ ██████████ | Investment Management | $388,047 | 2018-06-01 |
| ██████████ ██████████ ███████ ███ | Investment Maintenance | $326,193 | 2018-06-01 |
Personnel at Golden LEAF Foundation
| Name | Title | Compensation | Most recent data |
|---|
| Dan Gerlach | President | $194,517 | June 30, 2018 |
| Scott T. Hamilton | President, Chief Executive Officer | - | June 23, 2020 |
| ██████ ████ | Vice President Programs and Staff Atty | $129,095 | June 30, 2018 |
| ███ ████ | Acting President and Senior Vice President and Staff Attorney / Vice President of Programs | - | June 23, 2020 |
| ████ ██████ | Senior Director of Administrative Services | - | June 23, 2020 |
| █████ ████████ | Director of External Affairs and Director of Programs - Disaster Recovery / Director of Government Relations and Director of Programs / Program Officer - Hurricane Recovery | - | June 23, 2020 |
| ███████ █████ | Director of Programs / Program Officer | - | June 23, 2020 |
| █████ ██████ ███████ | Director of Programs and Program Administration / Program Officer | - | June 23, 2020 |
| █████ █████████ | President / Board Chairman / Director - Board Chair | $1,352 | June 23, 2020 |
| █████ ██████ | Director - Treasurer | $1,248 | June 23, 2020 |
| ...and 12 more key personnel |
Peer economic development organizations
| | Name | Type | Revenue | Location |
|---|
| 1 | Onestar Foundation | 501(c)(3) | $36 million | Austin, TX |
| 2 | North Carolina Partnership for Children | 501(c)(3) | $104 million | Raleigh, NC |
| 3 | NC MedAssist | 501(c)(3) | $72 million | Charlotte, NC |
| 4 | Hans Charitable Supporting Trust | 501(c)(3) | $37 million | Farmington Hills, MI |
| 5 | Business Leadership Organized for Catholic Schools (BLOCS) | 501(c)(3) | $39 million | King of Prussia, PA |
| 6 | Ohio State University Foundation (OSUF) | 501(c)(3) | $261 million | Columbus, OH |
| 7 | Greater Washington Community Foundation | 501(c)(3) | $96 million | Washington, DC |
| 8 | American Society for Yad Vashem | 501(c)(3) | $36 million | New York, NY |
| 9 | The Assistance Fund | 501(c)(3) | $213 million | Orlando, FL |
| 10 | Freedom Forum | 501(c)(3) | $30 million | Washington, DC |
| 11 | Workforce Solutions Greater Dallas | 501(c)(3) | $98 million | Dallas, TX |
| 12 | CMG | 501(c)(3) | $46 million | Washington, DC |
| 13 | Raymond James Charitable Endowment Fund | 501(c)(3) | $201 million | St Petersburg, FL |
| 14 | Clemson University Foundation | 501(c)(3) | $54 million | Clemson, SC |
| 15 | Disabled Veterans National Foundation (DVNF) | 501(c)(3) | $27 million | Lanham, MD |
| 16 | ImpactAssets | 501(c)(3) | $131 million | Bethesda, MD |
| 17 | National CHILDREN'S Cancer Society (NCCS) | 501(c)(3) | $26 million | St Louis, MO |
| 18 | California Community Foundation | 501(c)(3) | $279 million | Los Angeles, CA |
| 19 | American Kidney Fund (AKF) | 501(c)(3) | $301 million | Rockville, MD |
| 20 | Ub Foundation Activities | 501(c)(3) | $89 million | Buffalo, NY |
| 21 | Gulf of Mexico Alliance (GOMA) | 501(c)(3) | $27 million | Ocean Springs, MS |
| 22 | Empower Illinois | 501(c)(3) | $50 million | Chicago, IL |
| 23 | The Voter Participation Center | 501(c)(3) | $26 million | Washington, DC |
| 24 | Aspen Global Change Institute (AGCI) | 501(c)(3) | $62 million | Basalt, CO |
| 25 | Michigan Health Endowment Fund | 501(c)(3) | $92 million | Brighton, MI |