Golden LEAF is a nonprofit organization established by the State of North Carolina to accept and distribute half of the funds the state receives from the Master Settlement Agreement resulting from the massive lawsuit filed against the major tobacco manufacturers.
I wrote previously that Golden LEAF should be dissolved because of its status as an unaccountable slush fund run by political cronies. Furthermore, a recent state audit declared, “There is a risk that potential conflicts of interest or political influence play a role in Golden LEAF investment decisions.”
Apparently, those are not enough reasons for the organization to be dissolved.
Now comes this article, in which I present evidence that Golden LEAF is a completely unnecessary and merely redundant organization serving no unique purpose. Here is a sliver:
A specific example of Golden LEAF’s redundant funding efforts is the “Triangle North” industrial park. The park is a network of industrial sites “owned and managed by the Kerr-Tar Regional Economic Development Corp.” Golden LEAF’s financial support joined no fewer than 12 other government or government-funded organizations to help finance the project.
A 2008 report by the North Carolina General Assembly’s Program Evaluation Division identified six different state funding entities –in addition to Golden LEAF – active in the funding of water and wastewater infrastructure in North Carolina. The report concluded that, “water and wastewater funding is provided in a complex and fragmented manner.” Among the report’s recommendations were that North Carolina should rely “less on grants when determining state appropriations for water and wastewater infrastructure.” In total, the report listed 12 federal, state and non-profit entities (including Golden LEAF) funding North Carolina’s water and wastewater infrastructure.
Read the whole thing and decide for yourself.