Pga Tour Inc

“Edward d. Herlihy, joseph w. Monahan, ronald e. Price, john lindert, neera m. Shetty, jay m. Madara, allison w. Keller - business relationship (board and/or officer overlap)”

“Edward d. Herlihy, joseph w. Monahan, ronald e. Price, leonard d. Brown, jr., jay m. Madara, james c. Triola, neera m. Shetty, richard d. Anderson, allison w. Keller - business relationship (board and/or officer overlap)”

“Joe gorder, patrick cantlay, adam scott, peter malnati, jordan spieth, james "webb" simpson, eldrick "tiger" woods, joseph w. Monahan, ronald e. Price, jay m. Madara, allison w. Keller, leland t. Dennis, richard d. Anderson, leonard d. Brown, jr., neera m. Shetty - business relationship (board and/or officer overlap)”

“Pga tour, inc. Is a not-for-profit corporation exempt under irc section 501(c)(6) which has one class of members - professional golfers. The members have the right to elect player directors who sit on the board of directors of the organization. Currently, six members sit on the board of directors, four of which are elected by the majority of the organization's members; one that is appointed by the four elected members; and one that is appointed by the board of directors. Only the elected or appointed members have the right to vote in decisions of the governing body.”

“The members described in question 6 of form 990, part vi have the right to elect player directors who sit on the board of directors of the organization. Currently, six members sit on the board of directors, four of which are elected by the majority of the organization's members; one that is appointed by the four elected members; and one that is appointed by the board of directors. Only the elected or appointed member directors have the right to vote in decisions of the governing body. The earnings of the player directors from participation in various golf tournaments, events, or programs have been reported as compensation on part vii and schedule j as director compensation as directed in the irs form 990 instructions. Other than reimbursement for documented expenses to attend board meetings, player directors do not receive compensation for their services to the board of directors.”

“Pga tour, inc.'s form 990 was reviewed by an outside service provider and pga tour, inc.'s chief financial officer. Additionally, an electronic copy of form 990 was provided to all board members prior to the filing of the form with the internal revenue service.”

“Pga tour, inc. Maintains a conflict of interest policy for employees and a separate conflict of interest policy for the members of the board of directors. Officers, directors, and key employees are annually required to provide the company a statement confirming they received a copy of the policy, read the policy, and agreed to comply with the policy. Each officer, director, and key employee is required annually to disclose any relationship, transaction, or position they hold that could give rise to a conflict and to notify the organization if such a relationship exists at any time during the year.”

“The compensation committee ("the committee") of pga tour, inc. Is comprised of uncompensated, independent members of the pga tour policy board. The committee is responsible for reviewing and approving the compensation program for the ceo, senior management, and key employees of pga tour, inc. And its subsidiaries. The members of the committee are unrelated to and not subject to control by members of senior management of pga tour, inc. The committee establishes management benefits and prerequisites. The committee believes the attraction, retention, motivation, and reward of executives and key employees is vital to the future of pga tour, inc. And creation of maximum member value. As part of carrying out its responsibilities, the committee utilizes the services of a national compensation consulting firm annually to obtain compensation levels paid by similarly situated organizations, both taxable and tax-exempt, for functionally comparable positions. Performance evaluations are utilized in the determination of the compensation levels of individual members of senior management.”

“Program services are being carried out through the majority-owned partnership, pga tour enterprises, llc, that was entered into effective january 30, 2024. Pga tour, inc. Remains a membership organization devoted to carrying out the tax-exempt purposes and activities of promoting the sport of professional golf and the common interests of touring golf professionals through pga tour enterprises, consistent with the authority of rev. Rul. 98-15.”

“The amount reported as gross receipts on page 1, line g encompasses all of pga tour, inc.'s gross receipts activity throughout the year. The gross receipts are required to include total revenue reported on part viii "statement of revenue", which includes gross revenues from sales of securities during the normal course of investment management and asset reallocation (of both pga tour corporate reserves and the player retirement plans), as well as other gross amounts, without taking into account associated cost basis or expenses.”

“Pga tour, inc. Reports a decrease in employees from 2023 to 2024 because many of those individuals have moved to the payroll of the newly formed pga tour enterprises, llc.”

“The total tax from pga tour, inc.'s form 990-t ("exempt organization business income tax return") for tax year ended 12/31/2024 is $1,599,007.”

“In january 2024, the pga tour and strategic sports group ("ssg"), a consortium of american sports team owners, announced the launch of pga tour enterprises, a new joint venture subsidiary under pga tour, inc.'s control. As part of pga tour enterprises, ssg will also provide strategic focus on maximizing revenue generation for the benefit of the players and on finding opportunities to enhance the game of golf across the world. Pga tour, inc. Remains a membership organization devoted to carrying out the tax-exempt purposes and activities of promoting the sport of professional golf and the common interests of touring golf professionals through pga tour enterprises, consistent with the authority of rev. Rul. 98-15.”

“Reconciliation of net assets - other changes in fund balance increase (decrease) funds reserved for designated purposes 35,368,995 unrealized gains & losses (gaap) 131,454 pension and post-retirement related changes 32,416,883 book-tax difference in player compensation 739,062,610 intercompany adjustment (835,141) rounding 1 total other changes in fund balance 806,144,802”

“The organization makes its form 990 available to the public upon request. Its governing documents and financial statements are not made available to the general public.”

“Description:player prize and other benefit total fees:xxx-xx-xxxx”

“Description:player retirement total fees:56700000”

“Description:intercompany mutual services total fees:8520737”

“Description:professional freelance fees total fees:2443608”

“Description:other professional fees total fees:26246938”