1. North Carolina Community Foundation, Inc. Board Presentation Presentation by Eddie Burke, CPA Partner Cherry Bekaert LLP

2. Table of Contents Role of the External Auditor Key Highlights Summary 1 3 2 2

3. 3 Role of the External Auditor Actions PlanPerform Results Express Opinion Communication IndependenceChanges

4. 4 Key Highlights New CFO New Controller New Investment Manager Sold Hickory Property Major Gifts 1. Agency Fund – Duke Energy 2. Contributions - Burevitch

5. 5 Key Highlights SAS 114 LetterOne passed adjusting journal entryNo adjusting journal entries

6. 6 Key Highlights Assets

7. 7 Key Highlights Return on Investments Measure of profitability that indicates whether or not an organization is using its resources efficiently *NCCF return is net of agency earnings and investment fees. NCCF investment mix is based on risk with a target model of 65% equities, 25% fixed income, 5% alternative strategies, and 5% cash. Note the DJIA and S&P 500 are pure equity indexes.

8. 8 Key Highlights Investment Audit Procedures Confirmed large balances and tied others to statements Reviewed the fair value footnote Detail tested fair value for sample of investments Verified holdings are in accordance with investment policy Tested controls regarding management’s review of SSAE 16 reports Reviewed investment statements for any significant subsequent events Analytically reviewed investment revenue and expense items

9. 9 Key Highlights Liabilities and Net Assets

10. 10 Key Highlights Revenues

11. 11 Key Highlights Expenses Millions

12. 12 Key Highlights Expenses Percentage By Category Percentages

13. 13 Summary Clean Opinion No AJEs, one PAJE Good Internal Controls No Management Letter Comments Full Cooperation with Management

14. 14 Thank You Eddie Burke | Partner eburke@cbh.com | 919.782.1040 | cbh.com Cherry Bekaert LLP