Tiger Woods Foundation Inc

“Members of the organization the foundation has a sole member. The member's class is nonvoting. The member elects and designates the board of governors. All corporate powers are managed under the direction of the board of governors.”

“Process for review of form 990 the board of governors has delegated the review of the form 990 to the audit committee. The organization's executive staff works closely with the outside accounting firm it engages to review the return, and the final draft of form 990 is also reviewed by the treasurer before providing the draft to the audit committee. In addition to consulting with the treasurer and executive staff, the audit committee also meets with the accounting firm hired to prepare form 990. After its review, the audit committee reports back to the board regarding its oversight of form 990, and the final draft is provided to the entire board before the return is filed.”

“Conflict of interest policy under the conflict-of-interest policy, an annual conflict-of-interest questionnaire, aimed at determining any family and business relationship transactions or other transactions that may pose a potential conflict, is distributed to all covered persons (i.e., board members, officers executive leadership, or key employees). Covered persons are required to disclose real or potential conflicts at the time when such conflicts arise. When someone becomes a covered person and annually thereafter, each covered person is required to sign a statement affirming that he/she: (1) has received a copy of the conflict-of-interest policy; (2) has read the policy and understands said policy; and (3) agrees to comply with all requirements of the policy, including completing the conflict-of-interest questionnaire. The procedures for addressing any conflict of interest include but are not limited to, the following: (1) the conflicting interest is fully disclosed to the board; (2) the interested person responds to factual questions related to the substance of the transaction or arrangement being considered, after which he/she shall leave the meeting; (3) the person with the conflict of interest is excluded from the discussion and approval of such transaction; (4) alternatives to the proposed transaction are investigated, competitive bids or comparable valuations are obtained; (5) any conflicting issues during the course of a board meeting that cannot be resolved is referred to the governance committee; and (6) the transaction or action must be approved by a majority of disinterested persons.”

“Officer compensation determination the board appoints a compensation committee, none of which has a conflict of interest concerning the compensation arrangement, to be accountable for setting reasonable compensation packages for the ceo. The compensation committee develops packages consistent with the organization's philosophy and principles. The annual performance goals and criteria to be used in determining merit increases and variable compensation criteria for officers and key employees. The compensation committee also hires a qualified independent compensation and benefits specialist (independent expert) to review, analyze, and provide benchmarking data for the total compensation and benefits package. Appropriate comparability data is obtained from an independent expert (i.e., total economic benefits paid by similarly situated organizations, both taxable and tax-exempt) for similar job responsibilities. The compensation committee approves the compensation annually. Incentive compensation is determined by the compensation committee at the end of the calendar year based on the employee's performance against stated goals for that year. The committee's written records include the (1) terms of the arrangement with the disqualified person (including the date the arrangement was approved); and (2) a description of the comparable data relied on by the committee. Key deliberations of the committee, including: (a) the terms of the transaction that was approved and the date it was approved; (b) the members of the authorized body who were present during the debate on the transaction that was approved and those who voted on it; (c) the comparability data obtained and relied upon by the authorized body and how the data was obtained; and (d) any actions taken concerning consideration of the transaction by anyone who is otherwise a member of the authorized body but who had a conflict of interest concerning the transaction are also documented in minutes which are approved at the next committee meeting. Form 990, part vi, line 15b the foundation follows the same process for determining compensation packages for other officers and key employees as it does for the ceo.”

“Documents available to the public while federal tax laws do not mandate that the organization's governing documents, conflict of interest policy and financial statements be made available for public inspection, the organization makes its audited financial statements that were prepared by generally accepted accounting principles (gaap) available upon request.”

“We completed another full academic year of in-person programming (september 2023 - may 2024) at the tgr learning lab anaheim with program participation numbers increasing to pre-pandemic numbers. In september 2024 we began pre-launch educational programming in west philadelphia. This programming, in partnership with cobbs creek foundation, is a precursor to the opening of the tgr learning lab philadelphia in 2025.”