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

Organization Overview

The Golden L E A F Long-Term Economic Advancement Foundation In is located in Rocky Mount, NC. The organization was established in 2000. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 06/2022, Golden L E A F Long-Term Economic Advancement Foundation In employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Golden L E A F Long-Term Economic Advancement Foundation In is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2022, Golden L E A F Long-Term Economic Advancement Foundation In generated $127.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 22.3% each year . All expenses for the organization totaled $133.0m during the year ending 06/2022. While expenses have increased by 19.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Since 2015, Golden L E A F Long-Term Economic Advancement Foundation In has awarded 753 individual grants totaling $671,238,973. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

SEE PART III, LINE 1

Describe the Organization's Program Activity:

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 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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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Wellington Management
Investment Mgmt
$686,109
Silchester International Investors
Investment Mgmt
$631,196
Prime Buchholz Associates Inc
Invest. Consulting
$335,098
Acadian Asset Management Llc
Investment Mgmt
$199,095
Sit Fixed Income Advisors Llc
Investment Mgmt
$242,925
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $42,500,000
All other contributions, gifts, grants, and similar amounts not included above$278,981
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$42,778,981
Total Program Service Revenue$0
Investment income $14,919,713
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $69,983,432
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $127,682,126

Grants Awarded

Over the last fiscal year, The Golden L E A F Long-Term Economic Advancement Foundation In has awarded $126,685,340 in support to 80 organizations.

Grant RecipientAmount

CITY OF SANFORD

PURPOSE: SEE PART IV

$50,000,000

NORTH CAROLINA DEPARTMENT OF TRANSPORTATION

PURPOSE: SEE PART IV

$40,000,000

NC STATE EDUCATION ASSISTANCE AUTHORITY

PURPOSE: SEE PART IV

$3,018,555

HAYWOOD COMMUNITY COLLEGE

PURPOSE: SEE PART IV

$1,783,761

NORTH CAROLINA COMMUNITY COLLEGE SYSTEM

PURPOSE: SEE PART IV

$1,750,000

COUNTY OF TRANSYLVANIA

PURPOSE: SEE PART IV

$1,500,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 2 grants that The Golden L E A F Long-Term Economic Advancement Foundation In has recieved totaling $653,442.

Awarding OrganizationAmount
Mcnc

Research Triangle Park, NC

PURPOSE: TO SUPPORT RURAL BROADBAND FOR ECONOMIC DEVELOPMENT, EDUCATION, HEALTH CARE, NON-PORFITS AND ANCHOR INSTITUTIONS

$326,721
Mcnc

Research Triangle Park, NC

PURPOSE: TO SUPPORT RURAL BROADBAND FOR ECONOMIC DEVELOPMENT, EDUCATION, HEALTH CARE, NON-PORFITS AND ANCHOR INSTITUTIONS

$326,721
View Grant Recipient Profile

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