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Non-profit

Golden LEAF Foundation

Website:

goldenleaf.org
Location:

Rocky Mount, NC
Tax ID:

52-2204473
Tax-Exempt Status:

501(c)(3)

Budget (2023):

Revenue: $57,758,666
Expenses: $63,535,535
Assets: $1,292,166,073
Type:

Economic advocacy group
Formation:

2000
President & CEO:

Scott Hamilton
Budget (2023):

Revenue: $79,124,718
Expenses: $127,468,546
Total Assets: $1,403,937,165 11

References

  1. The Golden LEAF Inc, Return of Organization Exempt from Income Tax (Form 990), 2023, Part I.

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The Golden LEAF Foundation is a nonprofit organization that aims to increase economic opportunities in rural and tobacco-dependent communities in North Carolina. Golden LEAF was established in 1999 with funding from the 1998 Master Settlement Agreement with cigarette manufacturers and is focused on job creation, economic investment, workforce preparedness, and agriculture. 1

Activities

The Golden LEAF Foundation aims to increase economic opportunities in rural and tobacco-dependent communities in North Carolina through grantmaking, collaboration, innovation, and stewardship. Focusing on job creation, economic investment, workforce preparedness, and agriculture, Golden LEAF develops and maintains initiatives throughout North Carolina addressing community competitiveness and capacity. 1

The Golden LEAF Foundation was formed in 1999 under a charter established by the North Carolina General Assembly with the intention of using its funds to provide economic impact assistance to those in tobacco-dependent or affected areas of the state, thereby lessening the financial burden on the government. Golden LEAF supports education assistance, job training, employment assistance, and economic hardship assistance for tobacco farmers and workers affected by a decline in tobacco production while also supporting scientific research for the development of new uses for tobacco and potential alternative cash crops. Golden LEAF also supports local governments with upgrading utilities, transportation, and other public service infrastructure that can support economic development by attracting new businesses. 1

The Golden LEAF Foundation also supports health, human, and other social services that help maintain the stability of communities that are dependent on the tobacco industry. Golden LEAF provides community assistance grants and loans to some of these depressed and deteriorating communities for public purposes. 1  In 2023, some of Golden LEAF’s largest grants went to the City of Sanford, North Carolina ($55.1 million); the North Carolina Global TransPark Authority ($10 million); the North Carolina State Education Assistance Authority ($3.1 million); Bladen’s Bloomin’ Agri-Industrial ($2.55 million); and the Greenville Utilities Commission ($2 million). 2

Funding

The Golden LEAF Foundation was funded upon startup with a portion of North Carolina’s funding from the 1998 Master Settlement Agreement with cigarette manufacturers. 1 Golden LEAF Foundation continues to be funded by additional donations from undisclosed individuals, foundations, and businesses. Tax filings confirm a $1.099 million donation from MCNC in 2022. 3

Leadership

Scott T. Hamilton is the president and CEO of Golden LEAF and a member of the North Carolina Economic Development Association. Hamilton formerly worked as executive director of the Appalachian Regional Commission and as president and CEO of AdvantageWest. 4

Board of Directors

Ralph Strayhorn III is the chair of the board of Golden LEAF and the chair and CEO of both New Republic Partners and NRPI. 5

Brian Raynor is the vice chair of the board of Golden LEAF and a co-owner of Highland Paving Company. Raynor sits on the local advisory boards of Truist Bank and the North Carolina Outdoor Heritage Advisory Council. 6

Jeffrey Lee is the treasurer and assistant secretary of the board of Golden LEAF and the president of Jeffrey C. Lee Farms. Lee is the chair of the boards of North Carolina Agribusiness Council and sits on the board of the Tobacco Growers Association of North Carolina. 7

Bobbie Richardson is the secretary of the board of Golden LEAF and former Democratic member of the North Carolina House of Representatives. Richardson is also a former chair of the North Carolina Democratic Party. 8

Other members of the board include Charles Brown, S. Lawrence Davenport, Barry Z. Dodson, Michael Easley Jr., Don Flow, Randy Isenhower, Buddy Keller, Laurence Lilley, David Rose, Jarette Sampson, and Tom Taft. 9

Former members of the board include Darryl Moss, David L. Rose, Jerome Vick, and Arthur Pope. 10

References

  1. “About.” Golden LEAF Foundation. Accessed April 13, 2025. https://goldenleaf.org/about/.
  2.  The Golden LEAF Inc, Return of Organization Exempt from Income Tax (Form 990), 2023, Schedule I, Part II.
  3. MCNC, Return of Organization Exempt from Income Tax (Form 990), 2022, Schedule I, Part II.
  4. “Scott T. Hamilton.” Golden LEAF Foundation. Accessed April 13, 2025. https://goldenleaf.org/staff/scott-t-hamilton/.
  5. “Ralph Strayhorn.” LinkedIn. Accessed April 13, 2025. https://www.linkedin.com/in/ralph-strayhorn-8628521b/.
  6. “Golden LEAF Board Spotlight: Brian Raynor.” Golden LEAF Foundation, October 7, 2020. Accessed April 13, 2025. https://goldenleaf.org/golden-leaf-board-spotlight-brian-raynor/.
  7. “Golden LEAF Board Spotlight: Jeffrey Lee.” Golden LEAF Foundation, February 8, 2024. Accessed April 13, 2025. https://goldenleaf.org/golden-leaf-board-spotlight-jeffrey-lee/.
  8. “Bobbie Richardson.” Ballotpedia. Accessed April 13, 2025. https://ballotpedia.org/Bobbie_Richardson.
  9. “Board of Directors.” Golden LEAF Foundation. Accessed April 13, 2025. https://goldenleaf.org/about/board/.
  10. The Golden LEAF Inc, Return of Organization Exempt from Income Tax (Form 990), 2012, Part VII, Section A, Line 1a.
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Nonprofit Information

  • Accounting Period: June - May
  • Tax Exemption Received: December 1, 2000

    • Available Filings

    Period Form Type Total revenue Total functional expenses Total assets (EOY) Total liabilities (EOY) Unrelated business income? Total contributions Program service revenue Investment income Comp. of current officers, directors, etc. Form 990
    2023 Jun Form 990 $57,758,666 $63,535,535 $1,292,166,073 $214,502,164 Y $29,092,002 $0 $19,494,759 $1,563,838 PDF
    2022 Jun Form 990 $127,682,126 $133,047,066 $1,203,014,453 $218,513,934 Y $42,778,981 $0 $14,919,713 $1,178,746 PDF
    2021 Jun Form 990 $181,900,922 $141,559,804 $1,379,237,142 $154,263,791 Y $95,710,093 $0 $11,741,778 $1,159,282 PDF
    2020 Jun Form 990 $85,126,149 $79,357,817 $1,207,394,628 $234,080,022 Y $42,706,990 $0 $16,352,323 $1,047,215 PDF
    2019 Jun Form 990 $104,363,176 $64,903,877 $1,192,806,381 $196,863,993 Y $57,739,692 $0 $16,891,425 $1,150,089 PDF
    2018 Jun Form 990 $106,921,396 $78,672,488 $1,129,837,199 $201,052,429 Y $47,744,750 $0 $13,527,254 $796,863
    2017 Jun Form 990 $87,246,987 $138,890,436 $1,038,999,385 $171,651,037 Y $35,389,953 $0 $9,324,377 $789,478 PDF
    2016 Jun Form 990 $31,281,508 $39,104,679 $916,425,827 $67,996,660 Y $11,212,167 $0 $8,964,605 $990,718 PDF
    2015 Jun Form 990 $37,322,055 $40,128,250 $941,156,934 $69,494,824 Y $513,851 $0 $8,759,107 $1,081,745 PDF
    2014 Jun Form 990 $42,567,625 $61,815,651 $956,849,074 $75,031,265 Y $0 $0 $9,538,121 $1,064,026 PDF
    2013 Jun Form 990 $146,461,527 $110,165,868 $897,044,517 $87,667,715 Y $105,581,136 $0 $11,325,255 $996,938 PDF
    2012 Jun Form 990 $93,252,006 $67,123,679 $793,382,903 $84,625,928 Y $70,489,443 $0 $7,804,907 $979,772 PDF
    2011 Jun Form 990 $102,878,385 $47,687,708 $793,585,382 $92,950,403 Y $69,128,105 $0 $8,335,039 $987,935 PDF

    Additional Filings (PDFs)

    Golden LEAF Foundation

    301 N WINSTEAD AVE
    Rocky Mount, NC 27804-2228