2018 BOY SCOUTS OF AMERICA ANNUAL REPORT TO THE STATE Scouting’s Impact on the Economic Engine of North Carolina 2018 Annual Report to the State of North Carolina For more than 100 years, youth participating in the Boy Scouts of America have promised “to help other people at all times.” Another of the Scout Laws is to be thrifty, which teaches Scouts to ‘work to pay their way and to help others.’ These principles encourage each Scout to identify the needs of others and to address those needs through diligent work. Helping others through innovation is the basis of entrepreneurship. Scouting teaches self-discipline, leadership, teamwork, and resourcefulness. The Scout Oath and Law emphasize integrity. With this training in hand, many North Carolina Eagle Scouts start and lead companies, contributing their ingenuity to fill unmet needs and achieving economic success. Over 400 Eagle Scout entrepreneurs lead high- growth companies in North Carolina industries, including real estate, healthcare, and technology. These Eagle Scout entrepreneurs no doubt helped North Carolina become Forbes Magazine’s “#1 Best State for Business” in 2017, and a state whose 871,000 small businesses account for almost half of North Carolina’s employment and gross domestic product. By highlighting Eagle Scouts from across our state who have created dynamic and successful companies, the 2018 Report to the State recognizes entrepreneurial leadership as one of the many contributions of Scouting. As you read this report, collected and assembled by a committee of Eagle Scouts, whom I thank, you will be encouraged by these Scouts and their dedication to conscientiously fulfill their duty to serve others through business. Yours sincerely, Paul M. Newby Senior Associate Justice, Supreme Court of North Carolina Chairman, 2018 Report to the State Committee Boy Scouts of America|i 2018 Annual Report to the State of North Carolina TABLE OF CONTENTS Analysis of Scouting’s Influence in North Carolina’s Entrepreneurial Economy........... 1 Executive Summary .......................................................................................... 1 Data Analysis Strategy ...................................................................................... 1 Findings .......................................................................................................... 1 High Growth ................................................................................................... 2 Conclusions .................................................................................................... 3 Eagle Entrepreneurs ............................................................................................ 5 Ted Zoller, PhD ............................................................................................... 5 Anthony Atti, PhD ............................................................................................. 6 Chris Ng Cashin .............................................................................................. 7 Zach Clayton .................................................................................................. 8 Charles Douthitt .............................................................................................. 9 William R. Hawkins, III ................................................................................... 10 Aaron Houghton............................................................................................ 11 Howard Kel Landis ......................................................................................... 12 David S. Moore ............................................................................................. 13 Harry L. Smith ............................................................................................... 14 JD Wooten .................................................................................................... 15 Scouting Across the State of North Carolina ........................................................ 17 Cape Fear Council ........................................................................................ 18 Central North Carolina Council ...................................................................... 19 Daniel Boone Council .................................................................................... 20 East Carolina Council .................................................................................... 21 Mecklenburg County Council .......................................................................... 22 Boy Scouts of America|ii 2018 Annual Report to the State of North Carolina Occoneechee Council ................................................................................... 23 Old Hickory Council ...................................................................................... 24 Old North State Council ................................................................................. 25 Piedmont Council .......................................................................................... 26 Tidewater Council .......................................................................................... 27 Tuscarora Council ......................................................................................... 28 Afterward and Thanks ....................................................................................... 29 Entrepreneurship Working Group and Contributors ........................................... 29 Special Thanks .............................................................................................. 30 Report to the State Committee......................................................................... 30 Boy Scouts of America|iii 2018 Annual Report to the State of North Carolina ANALYSIS OF SCOUTING’S INFLUENCE IN NORTH CAROLINA’S ENTREPRENEURIAL ECONOMY Ted D. Zoller, PhD TW Lewis Distinguished Scholar and Professor Kenan-Flagler Business School University of North Carolina at Chapel Hill EXECUTIVE SUMMARY To support an analysis being conducted by the North Carolina Councils of the Boy Scouts of America on the influence of Scouting alumni on the State’s Entrepreneurial Economy, I offered to make available a novel social networking analysis tool developed to identify entrepreneurs based on their affiliations using a big data analysis strategy. DATA ANALYSIS STRATEGY In order to ascertain the prevalence of Boy Scout alumni among North Carolina’s entrepreneurial leadership, we employed a triangulation technique analyzing three different but complementary strategies to identify entrepreneurial Scouting alumni. First, we scanned all board members of private entrepreneurial companies in North Carolina found in Standard and Poor’s CapitalIQ database whose biographical sketches established an association with Scouting in the past; Second, we scanned the same data for all individuals who self-reported that they attained Eagle Scout; Third, we compared an extract of Boy Scout and Eagle Scout alumni from the Occoneechee Council from Central North Carolina, seeking matching records in Capital IQ. The goal was to find the incidence of general Scouting and Eagle Scout alumni among North Carolina’s entrepreneurial business leadership. FINDINGS Our analysis shows that Scouting alumni are heavily represented among North Carolina’s entrepreneurial leadership, particularly among business people who attained the rank of Eagle Scout: Boy Scouts of America|1 2018 Annual Report to the State of North Carolina Our analysis revealed over 1,000 entrepreneurs in North Carolina in national economic databases of the 22,800 Scouting alumni just in the 1000+ Occoneechee Council, which covers just the Research Triangle and Triad Regions. This suggests that there are over 3,000 Scouting entrepreneurs active 3000+ throughout North Carolina Percentage of all business people in North Carolina who are both entrepreneurs and Eagle Scouts as a percentage of all general business people, as compared to 0.3% of entrepreneurs among all business 11.5% people nationally according to the 2016 Kauffman Firm Survey. Eagle Scouts therefore represent a large proportion of the entrepreneurial leadership in North Carolina. HIGH GROWTH A very high percentage of North Carolina’s most successful entrepreneurs were Eagle Scouts. A content analysis of the backgrounds and bios of Eagle Scout alumni who were entrepreneurs called out a number of the most distinguished entrepreneurs. They come from all industries, from Real Estate to Life Sciences to High Technology, among other areas. A content analysis of the North Carolina Eagle Scout sample revealed some of North Carolina’s most distinguished high-growth entrepreneurs, including: Chris Cashin Founder of Thundershirt and Bootstrap Advisors Zach Clayton Founder of Three Ships David Gardner Serial entrepreneur and Founder of CoFounders Capital Aaron Houghton Serial entrepreneur and Founder of iContact Kel Landis Founder of Plexus Capital and former CEO of RBC Centura Stanley Tanger Founder of Tanger Outlets These Eagle Scouts are among some of the most distinguished high-growth entrepreneurs and executives who currently operate in North Carolina. Our research identified many others who positively impact the economic engine of the State through their entrepreneurship. Boy Scouts of America|2 2018 Annual Report to the State of North Carolina CONCLUSIONS The study has not only served to confirm the association of Scouting with entrepreneurship, but confirmed that individuals who attain