MCNC May 2011 News Clipbook by Noah Garrett

SOURCE: Greenville (NC) Daily Reflector AUDIENCE: 91,060 [provided by Nielsen//NetRatings] DATE: 05−11−2011 HEADLINE: Editorial: Legislation hurts broadband access Source Website Editorial: Legislation hurts broadband access Wednesday, May 11, 2011 Ample evidence indicates that access to high−speed broadband Internet service encourages economic development in a number of areas. In addition to linking communities to markets around the world, empowering students with an education in technological proficiency makes them more attractive to potential employers when they enter the job market. It therefore makes no sense that North Carolina lawmakers would approve one bill and consider a provision in next year's budget that would severely restrict the growth of broadband access to rural corners. Instead of providing a pathway out of poverty for thousands of state residents, these decisions promise to leave them in the dark for years to come. With significant margins in both the House and Senate " including all five members of Pitt County's legislative delegation " the General Assembly approved a bill last week that would harshly limit communities' ability to construct broadband networks for their residents. The law was written in response to cities like Wilson entering into direct competition with cable providers, despite the fact that cable provides have been reluctant to extend affordable, reliable access to cities like Wilson. The bill now awaits the signature of Gov. Beverly Perdue. Last week also saw the N.C. House give approval to its version of the state budget, sending the spending framework to the Senate for its consideration. Included in the budget is a measure stripping the Golden LEAF Foundation of future funding from the 1998 Federal Tobacco Settlement. The foundation was empowered by the agreement to provide grants to tobacco−dependent communities enduring the economic hardship of losing their cash crop. One promising initiative of the Golden LEAF Foundation is its Rural Broadband Initiative. The foundation has awarded $24 million in grants to be paired with $76 million in federal money to install the infrastructure needed to extend access to rural communities across the state. The project expects to bring high−speed broadband fiber to 69 counties. In both cases, North Carolina is failing to prepare for the future and needlessly harming the state's neediest communities as a result. Extending reliable, high−speed broadband access to a greater share of residents could be a cornerstone for economic development and greater prosperity for all. Instead of striving to reach that goal, the legislature is actively working against it. It should reconsider its approach and chart a more reasonable course that recognizes Internet access as an invaluable infrastructure resource for the state's future. Copyright 2010 The Daily Reflector. All rights reserved Highlights: NC, NORTH CAROLINA, North Carolina, N.C, Golden LEAF, Rural Broadband Initiative

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ACG Presents Giving Back Annual Food Bank Fundraising Breakfast on June 9

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ACG Presents Giving Back Annual Food Bank Fundraising Breakfast on June 9

Latest News BodyLase Skin Spa Hosts SmartlipoTM “Evening of Beauty” RALEIGH, N.C. – Karen Albright, president of BodyLase Skin Spa ... BJAC Releases Podcast On Architecture Firm Business Development RALEIGH, N.C. – Dan Fields, AIA, Principal and CMO at ... Kangaroo Express Driving Hometown Support with ‘Salute Our Troops’ Jeep Tour Restored 1952 Jeep comes to the Triangle, will travel 100 ... Local New York Life Office Named Diamond Sponsor For NAWBO Greater Raleigh RALEIGH, N.C. – Paul Holmes, managing partner for the Raleigh ... Campbell Law to Host National Conference on Restorative Justice The Norman Adrian Wiggins School of Law at Campbell University ... The Preiss Company Enters Illinois Housing Market with University Village at Champaign Acquisition RALEIGH, NC – June 1, 2011 – The Preiss Company, ... Tribeca Tavern Chef Marc Vanscoy Participates In Inter-Faith Food Shuttle Blossoms Of Hope Luncheon RALEIGH, N.C. – Dean Ogan, owner of Rocky Top Hospitality ... Evan’s Farm Celebrates Grand Opening Realtors Treated to Fun and Food (Cary, NC – May 26, 2011)— Realtors gathered for an ... CORRAL to dedicate new riding arena for at-risk girls June 4 Community donates time, goods and services to help nonprofit for ...

Triangle - Corporate Social Responsibility is not just a branding exercise but is a concept that businesses are embracing as part of their growth strategy. Join the Association for Corporate Growth (ACG) Raleigh Durham for its final meeting before summer break to hear from Ed Carney, Vice President and General Manager of Cisco Systems and Chairman of the Board of the Food Bank of Eastern and Central North Carolina, to learn how Cisco has embraced this philosophy as an integral part of its business strategy. The breakfast meeting on Thursday, June 9 from 7:30 to 9:00 a.m. at the Sheraton Imperial in Durham will benefit the regional Food Bank. ACG Raleigh Durham will guarantee that the total donations made by sponsors and attendees, along with a contribution from its ACG Chapter, represents a $5,000 donation to the Food Bank. Carney leads Cisco’s Enhanced Customer Aligned Testing Services (eCATS) organization in Customer Advocacy. eCATS unifies test engineering and architecture experts into a single team focused on working in tandem with Cisco and Enterprise Customer organizations to design validated Cisco solutions. These solutions improve the deployment success of Cisco products, services and architectures for the company’s most strategic global Enterprise Customers through a joint Cisco-Customer model that is foundational to the company’s next generation Enterprise Customer relationship. Among his many ancillary responsibilities, Carney sits on the Architecture Board of the company’s Enterprise Business Council – one of 11 corporate councils tasked with leading successful business change in line with the company’s key global strategies. He was also a Cisco Fellow with the Microelectronics Center of North Carolina – an independent, nationally recognized United States non-profit that uses advanced technologies and systems to improve learning and collaboration throughout the state’s research and education communities. ACG Members $25, non-members $50. Registration: www.ACG.org/RaleighDurham by June 7. There is no phone registration or registration at the door. About ACG Raleigh Durham The Association for Corporate Growth®(ACG®) Raleigh Durham Chapter is “The People Who Drive Mid-Market Dealmaking and Corporate Growth in the Triangle.” ACG is the global community for middle market M&A dealmakers and business leaders focused on driving growth. ACG members have access to data, content and networking to access capital, make deals and drive corporate growth. Founded in 1954, ACG has grown to more than 13,000 members organized in 55 chapters throughout North America, Europe and Asia. www.ACG.org/RaleighDurham Posted on: Tuesday, May 31, 2011 08:05 PM

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2010

Annual Report

About Golden LEAF Our Purpose Established in 1999, the Golden LEAF Foundation was created to manage one-half of North Carolina’s share of funds from the Master Settlement Agreement with tobacco companies. Golden LEAF supports tobacco-dependent, economically distressed and rural communities in North Carolina working to transition to more prosperous and stable economies.

Applying for a Grant Golden LEAF focuses grantsmaking in areas that show the most promise for assisting targeted communities with economic transition or diversification. Priority areas include agriculture, job creation and retention, and workforce preparedness. Golden LEAF makes grants to 501(c)(3) nonprofits and governmental entities. Click here to read information about our programs and application process.

Open Door Policy Golden LEAF welcomes eligible entities to request funding for projects that are consistent with Golden LEAF’s priorities. The Foundation encourages potential applicants to visit our website to read more about program priorities and to contact programs staff to discuss project ideas or other issues before submitting a grant application or letter of inquiry. Call 888-684-8404 or click here for a list of programs staff.

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Letter from the Chair & President In 2010, the Golden LEAF Foundation took bold steps to maximize the benefit of its work for tobacco-dependent, economically distressed and rural communities. Golden LEAF awarded a $24 million grant to MCNC to help leverage over $75 million in federal broadband funds that will help bring middlemile fiber to hundreds of community anchor institutions, such as schools, libraries, Edgar M. Roach, Jr. hospitals, community Board Chairman Golden LEAF colleges, and even universities, across 69 counties. The federal grant to MCNC was one of the largest in the nation, and Golden LEAF’s ability to provide the necessary local match will help advance broadband access to Dan Gerlach the most remote areas President Golden LEAF of our state by years. It is also expected that the presence of the middle-mile fiber will allow private companies to serve even more businesses and homes in rural North Carolina than ever before. The Foundation also had a record-setting year in its Community Assistance Initiative, which serves North Carolinians living in our most distressed counties through community-based grantsmaking. Projects in 11 counties were awarded grants in 2010, and this torrid pace will continue in 2011 and 2012. Education, economic development, infrastructure and health care are common priorities that local citizens share during this process, and through this initiative, they are able to see their input make a difference in Golden LEAF grantsmaking in their communities. As we continue to recover from the recession, we were excited to see that economic development opportunities began

growing in 2010, a trend that is continuing into 2011. The Foundation made a number of grants to help job creation projects come to reality from Robeson County in the southeast to Graham County in the far west. We take pride in our strategic and targeted grantsmaking that fills the funding gap that state and local governments cannot provide and results in jobs for North Carolinians that otherwise would have been lost to another state or nation. Agriculture, our traditional strength as a state, has remained a strong economic sector even in these tough times. Through special grant cycles in local foods and agribiotechnology, Golden LEAF is providing support to help farmers diversify and add value to their products, thereby supporting North Carolina’s economy. We also provided new opportunities through our Golden LEAF Scholars program. 100 Golden LEAF Scholars from 74 counties chose to obtain leadership training, learn about rural North Carolina, and to begin internships in their home communities this summer. This effort culminated two years of analysis and evaluation about how to help talented North Carolina students stay connected to rural North Carolina, and possibly locate in rural areas to pursue careers after graduation. In total, Golden LEAF awarded 159 grants totaling over $73 million in 2010. Our ability to continue to award meaningful grants to help tobacco-dependent, economically distressed and rural communities at this level depends on two things: the returns on our investments and the ongoing payments from the Master Settlement Agreement. In 2010 alone, our investments earned $67 million and since inception have earned a total of $214 million. We continue to be good stewards of the resources and use the MSA payments wisely to ensure that the Golden LEAF money gets to where it should go – communities like yours. We are grateful for a tremendous 2010, and look forward to even better things to come.

(cont. from pg. 1) Our Grant Programs/ Initiatives The Golden LEAF Foundation is committed to using the funds entrusted to it for projects that show the most potential for strengthening North Carolina’s long-term economy, especially in tobacco-dependent, economically distressed, and/or rural communities. Golden LEAF’s grant programs and initiatives are only available to 501(c)(3) nonprofits and governmental entities.

Open Grants Program In the Open Grants Program, Golden LEAF’s grantsmaking is focused in the areas of Agriculture, Job Creation and Retention and Workforce Preparedness. The Open Grants process makes funding opportunities available throughout the year. Click here for more information about applying for an Open Grants Program grant.

Economic Catalyst The Foundation’s Economic Catalyst Program awards job creation assistance grants to eligible entities who help industry locate or expand through eligible activities in tobaccodependent or economically distressed areas of the state. Applicants are strongly encouraged to contact Golden LEAF staff to discuss the potential projects and conditions that may be applicable prior to submitting an application. Click here for more information about applying for an Economic Catalyst grant.

Community Assistance Initiative The Community Assistance Initiative is a facilitated grant process targeting the needs of communities designated “Tier 1” by the NC Department of Commerce. Click here to read more about the Community Assistance Initiative.

Scholarships Golden LEAF awards scholarships for students from qualifying counties to attend participating North Carolina colleges and universities. As of March 2011, Golden LEAF has awarded more than $18 million to college and university systems in North Carolina for scholarships to 6,456 individuals from rural North Carolina. Click here for more information about Golden LEAF Scholarship opportunities.

2010 Grant Awards In 2010, the Golden LEAF Foundation awarded 159 grants totaling $73,273.889.17 to a diverse set of projects across the state. Click here to see the list of calendar year 2010 awards.

The grant awards are broken down according to the following Golden LEAF grant programs/ initiatives. Grant awards included, but were not limited to: • more than $24 million for the Golden LEAF Rural Broadband Initiative, which will provide 69 mostly rural communities with high speed broadband and leverage over $75 million from a federal grant available through the American Recovery and Reinvestment Act, • more than $23 million to projects in Tier 1 counties through the Community Assistance Initiative, • more than $8.7 million to support job creation projects that were at risk without Golden LEAF support through the

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Foundation’s Economic Catalyst program, more than $5.9 million through the Foundation’s Open Grants Program for projects related to agriculture, job creation and retention and workforce preparedness, more than $2.9 million for scholarship aid to help students from rural, distressed communities attend college through Golden LEAF Scholarships, more than $2.1 million to support an AgBiotech Initiative to support agbiotech efforts in the northeast and western parts of the state, more than $1.9 million to support local foods efforts across the state.

As of April 2011, Golden LEAF has awarded 1,071 grants totaling over $497 million since its inception. Click here to search Golden LEAF’s grant awards.

Our News

To keep up with Golden LEAF’s latest news, grant program opportunities and grantee accomplishments, click here to sign up for our e-newsletter (LEAF Lines) and our media mentions throughout the state (Golden LEAF News). Click here to view past editions of LEAF Lines. Click here for Golden LEAF News.

Click here to view the map of the Golden LEAF Rural Broadband Initiative

Golden LEAF Rural Broadband Initiative The Golden LEAF Foundation Board of Directors awarded $24 million grant to MCNC for the Golden LEAF Rural Broadband Initiative (GLRBI) in April 2010. The GLRBI will provide a total of 69 counties in rural North Carolina with high-speed broadband fiber and will build approximately 1,300 miles of new, middle-mile fiber throughout the state. The Golden LEAF grant provided matching funds for Round Two of the federal Broadband Technology Opportunities Program (BTOP2). MCNC received $75.75 million from BTOP2 to support the GLRBI.

Our Financials

The Foundation’s financial statements undergo an annual audit, which was conducted by BDO USA, LLP. BDO USA, LLP audited our financial statements for the year ended June 30, 2010. The Foundations’ financial statements are presented in conformity with the accounting principles and reporting guidelines established by the Governmental Accounting Standards Board (GASB). BDO USA, LLP expressed an unqualified opinion on these financial statements. A copy of BDO USA, LLP’s audit report dated September 30, 2010 may be viewed on the Golden LEAF web site, www.goldenleaf.org.

Statement of Net Assets and Governmental Fund Balance Sheet June 30, 2010 Reclassifications Statement of General Fund and Eliminations Net Assets ASSETS Cash and cash equivalents $ 1,160,932 $ - $ 1,160,932 Sales tax refund and other receivables 2,242 - 2,242 Prepaid items 79,897 - 79,897 Investments 638,322,381 - 638,322,381 Capital assets-nondepreciable - 927,771 927,771 Capital assets-depreciable, net - 3,094,525 3,094,525 Total assets $ 639,565,452 $ 4,022,296 $ 643,587,748 LIABILITIES Accounts payable $ 102,984 $ - $ 102,984 Accrued liabilities 75,666 - 75,666 Grants payable 84,369,395 - 84,369,395 Total liabilities 84,548,045 - 84,548,045 NET ASSETS Reserved for prepaid items 79,897 (79,897) Invested in capital assets, net of debt - 4,022,296 4,022,296 Unrestricted 554,937,510 79,897 555,017,407 Total net assets 555,017,407 4,022,296 559,039,703 Total liabilities & fund balances/net assets $ 639,565,452 $ 4,022,296 $ 643,587,748 Statement of Activities and Governmental Fund Revenues, Expenditures, and Changes in Fund Balance June 30, 2010 Reclassifications Statement of General Fund and Eliminations Activities REVENUES Proceeds from state settlement $ 73,179,244 $ - $ 73,179,244 Investment income, net 66,762,679 - 66,762,679 Other income 5,040 - 5,040 Total revenues 139,946,963 - 139,946,963 EXPENDITURES/ EXPENSES Grant distributions 65,004,216 - 65,004,216 Administrative costs 2,343,034 - 2,343,034 Capital outlays 5,888 (5,888) Loss on fixed assets - 9 9 Depreciation expense - 107,430 107,430 Interest expense 340,875 - 340,875 Total expenses 67,694,013 101,551 67,795,564 Excess revenues over (under) expenses 72,252,950 (101,551) 72,151,399 Change in fund balance/net assets 72,252,950 (101,551) 72,151,399 Net assets, beginning of year 482,764,457 4,123,847 486,888,304 Fund Balance/Net assets, end of year $ 555,017,407 $ 4,022,296 $ 559,039,703

Our Board of Directors

Our Staff

Golden LEAF’s 15-member board is appointed by the North Carolina Governor, the President Pro-Tempore of the Senate and the Speaker of the House of Representatives.

Dan Gerlach

Edgar M. Roach, Jr.

Billy Ray Hall

Board Chairman Chapel Hill, NC

Angier, NC

McGuire Woods/Retired Virginia Power/N.C. Power Appointed by Governor

North Carolina Rural Economic Development Center Appointed by Governor

James H. Johnson, Jr.

Michael A. Almond

Piney Creek, NC Appointed by Speaker of the House

Pittsboro, NC

UNC-Chapel Hill

Appointed by Speaker of the House

Wade Barber

Yvonne J. Johnson

Wade Barber, PLLC

One Step Further

Pittsboro, NC

Greensboro, NC

Appointed by Speaker of the House

Paul Brooks

Rev. Lacy L. Joyner

Pembroke, NC Appointed by Governor

Oxford, NC

First Baptist Church, Oxford

J. Thomas Bunn Raleigh, NC

US Tobacco Cooperative Inc.

Appointed by Speaker of the House

William “Billy” Clarke Asheville, NC

Roberts & Stevens, PA

Appointed by President Pro Tem of the Senate

S. Lawrence Davenport Pactolus, NC

J.P. Davenport and Son, Inc.

Appointed by Governor

Appointed by Speaker of the House

President dgerlach@goldenleaf.org

Mark Sorrells

Senior Vice President msorrells@goldenleaf.org

Programs Patricia Cabe

Vice President of Programs/ Community Assistance & Outreach pcabe@goldenleaf.org

Ted Lord

Vice President of Programs/ Staff Attorney tlord@goldenleaf.org

Terri Bryant Adou-Dy

Appointed by President Pro Tem of the Senate

Program Officer tbryant@goldenleaf.org

David T. Stephenson, III

Barbara Smith

Lumberton, NC Farmer/ S&P Tobacco Inc. Appointed by President Pro Tem of the Senate

Thomas F. Taft, Sr. Greenville, NC

Taft, Taft & Haigler, PA

Appointed by Governor

Debbie E. Worley Princeton, NC

Farmer

Appointed by President Pro Tem of the Senate

Program Officer bbsmith@goldenleaf.org

Jenny Tinklepaugh

Program/Communications Officer jtinklepaugh@goldenleaf.org

Brenda Smith

Program Assistant bsmith@goldenleaf.org

Debbie Pennington

Administrative Assistant for Programs dpennington@goldenleaf.org

Administrative Rhea Barnes

Director of Administrative Services rbarnes@goldenleaf.org

Wanda Barnes

Administrative Assistant wbarnes@goldenleaf.org

301 North Winstead Avenue Rocky Mount, NC 27804 888-684-8404 info@goldenleaf.org www.goldenleaf.org

Financial Peter Cera

Vice President of Investments pcera@goldenleaf.org

Beth Edmondson

Controller bedmondson@goldenleaf.org

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PUBLISHED TUE, MAY 31, 2011 02:00 AM MODIFIED MON, MAY 30, 2011 10:38 PM

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