Pga Foundation Inc

“Pga foundation, inc. Amended and restated their articles of incorporation and bylaws effective march 27th, 2025. The significant changes made were involving the establishment of the professional golfers' association inc., as the sole member of the foundation and the restructuring of the board of directors. There were also amendments made regarding resignations, meetings, advisory board & committees, grant policies, and employees & officers.”

“Pga foundation inc., has one class of members and one member which is the professional golfers' association of america, inc.”

“The member will elect the directors and transact such other business as may properly come before the member from time to time.”

“The form 990 is prepared and overseen by the director of tax at the pga of america, and then subjected to review and approval by the sr. Director of tax and section finance. After the comments are cleared, it is sent to the cfo for comments and approval, at which time it is also provided to the executive director of pga foundation, inc. For final internal comments. A copy of the return is then provided to the foundation's governing board for final review and comments prior to filing. Once all stages of review have been cleared both internally and with the governing board, the return is filed with the internal revenue service.”

“All members of the board of directors receive a conflict of interest policy at the time they are elected to the board which is then updated annually. The conflict of interest policy requires directors to avoid conflict situations. In the event a conflict arises, they are required to disclose the conflict to the other directors so they can take appropriate action.”

“Line 15a - the organization has no employees. The top management officials are paid by a related company. For this related company, all employee compensation is determined based on comparability data and performance evaluations and the deliberation and decision process is contemporaneously substantiantiated. Certain positions may also be subject to review and approval by the board of directors with the assistance of independent consultants. Line 15b - the organization has no employees of its own. The other officers are paid by a related company. For this related company, all employee compensation is determined based on comparability data and performance evaluations and the deliberation and decision process is contemporaneously substantiated. Certain positions may also be subject to review and approval by the board of directors with the assistance of independent consultants.”

“The organization makes its governing documents, policies, and financial statements available to the public upon request.”

“Lines 12, 13 and 14 - the charity applies the written conflict of interest policy, written whistleblower policy and written document retention and destruction policy that have been adopted by its related organization, the professional golfers' association of america. Line 15 - all compensation is being reported on the charity's form 990 as related compensation. The charity's related organization, the professional golfers' association of america, conducts the compensation review process described in part vi, line 15.”

“Compensation of more than $1,000,000 may be paid by a related organization, pga corporation (ein 65-1101063) who files form 4720 when applicable.”

“Audio visual: program service expenses 84,062. Management and general expenses 0. Fundraising expenses 0. Total expenses 84,062. Broadcast: program service expenses 472,500. Management and general expenses 0. Fundraising expenses 0. Total expenses 472,500. Contingent workers: program service expenses 302,587. Management and general expenses 0. Fundraising expenses 0. Total expenses 302,587. Miscellaneous: program service expenses 322,809. Management and general expenses 6,382. Fundraising expenses 34,521. Total expenses 363,712. Photography: program service expenses 523,298. Management and general expenses 0. Fundraising expenses 0. Total expenses 523,298. Production: program service expenses 387,802. Management and general expenses 0. Fundraising expenses 19,665. Total expenses 407,467. Scholarships: program service expenses 12,250. Management and general expenses 0. Fundraising expenses 0. Total expenses 12,250. Signage: program service expenses 111,113. Management and general expenses 0. Fundraising expenses 115. Total expenses 111,228. Talent: program service expenses 28,570. Management and general expenses 0. Fundraising expenses 0. Total expenses 28,570.”

“Change in balance of endowment fund -103,857.”