The Golden LEAF Inc

EIN: 522204473 501(c)(3) Philanthropy & Grantmaking

Rocky Mount, NC

Total Revenue
$79,124,718
Total Expenses
$127,468,546
Total Assets
$1,403,937,165
Net Assets
$1,158,366,397
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1999
Legal Domicile
NC
Principal Officer
SCOTT T HAMILTON
Phone
2524427474
Tax Period
2023-07-01 to 2024-06-30

The Golden LEAF Inc, founded in 1999, is a mid-sized nonprofit in the Philanthropy & Grantmaking sector that reported $79.1M in total revenue in fiscal year 2023. Revenue surged 37% from the prior year, signaling strong growth momentum. Expenses of $127.5M exceeded revenue, resulting in a 61% operating deficit.

Mission

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.

Program Service Accomplishments

Program 1
Expenses: $123,532,246 Revenue: $0

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...

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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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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $40,110,208
Program Service Revenue $0
Investment Income $39,009,507
Other Revenue $5,003
TOTAL REVENUE $79,124,718

Expense Breakdown

Grants Paid $120,711,983
Salaries & Benefits $3,412,302
Fundraising Expenses $0
Program Expenses $123,532,246
Other Expenses $3,344,261
TOTAL EXPENSES $127,468,546

Year-over-Year Comparison

2023 2022 Change
Revenue $79,124,718 $57,758,666 +0.4%
Expenses $127,468,546 $63,535,535 +1.0%
Net Income $-48,343,828 $-5,776,869 +7.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
15
Independent Members
15
Employees
30
Volunteers
16

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
12
$1,576,721
Total Directors
16
$14,040
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SCOTT T HAMILTON PRESIDENT/CEO 40.0
Officer
$286,506 $41,178 $327,684
EDWARD P LORD SVP/GENERAL COUNSEL 40.0
Officer
$200,676 $44,537 $245,213
ERICA L SMITH VP OF FINANCE 40.0
Officer
$160,967 $40,215 $201,182
KASEY E GINSBERG VP/CHIEF OF STAFF 40.0
Officer
$158,035 $28,219 $186,254
JONATHAN P BOYD VP OF INVESTMENTS 40.0
Officer
$141,801 $26,671 $168,472
TERRI ADOU-DY ENDED 062024 DIR OF PROGRAMS/PROGRAMS ADMIN 40.0
Officer
$129,303 $33,460 $162,763
ANGELA GAILLIARD DIRECTOR OF PROGRAMS 40.0
Officer
$112,231 $33,178 $145,409
MARILYN M CHISM DIRECTOR OF PROGRAMS 40.0
Officer
$121,863 $13,929 $135,792
RANDY ISENHOWER DIRECTOR 3.0
Director
$1,768 $0 $1,768
DARRYL MOSS DIRECTOR 3.0
Director
$1,560 $0 $1,560
RALPH STRAYHORN III BOARD CHAIR 15.0
Officer Director
$1,456 $0 $1,456
THOMAS F TAFT SR DIRECTOR 3.0
Director
$1,352 $0 $1,352
S LAWRENCE DAVENPORT DIRECTOR 3.0
Director
$1,248 $0 $1,248
DAVID L ROSE DIRECTOR 3.0
Director
$1,248 $0 $1,248
BOBBIE J RICHARDSON SECRETARY 3.0
Officer Director
$1,040 $0 $1,040
CHARLES P BROWN DIRECTOR 3.0
Director
$1,040 $0 $1,040
LAURENCE LILLEY DIRECTOR 3.0
Director
$1,040 $0 $1,040
BRIAN RAYNOR VICE CHAIR 3.0
Officer Director
$832 $0 $832
JOHNATHAN RHYNE JR TREASURER/ASST. SECRETARY 3.0
Officer Director
$624 $0 $624
JEROME VICK ENDED 072023 DIRECTOR 3.0
Director
$624 $0 $624
JEFFREY LEE BEGAN 112023 DIRECTOR 3.0
Director
$208 $0 $208
BARRY Z DODSON DIRECTOR 3.0
Director
$0 $0 $0
DONALD E FLOW DIRECTOR 3.0
Director
$0 $0 $0
BUDDY KELLER DIRECTOR 3.0
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $79,124,718 $127,468,546 $1,403,937,165 $-48,343,828
2023 $57,758,666 $63,535,535 $1,292,166,073 $-5,776,869
2022 $127,682,126 $133,047,066 $1,203,014,453 $-5,364,940
2021 $181,900,922 $141,559,804 $1,379,237,142 $40,341,118
2020 $85,126,149 $79,357,817 $1,207,394,628 $5,768,332
2019 $104,363,176 $64,903,877 $1,192,806,381 $39,459,299
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