World Golf Foundation Inc.

“John e. Peter and diane t. Tetsworth have a business relationship.”

“The foundation's board is comprised of eight individuals; under the bylaws, seven of the directors are named by title and must be elected as directors by virtue of their official capacity in each of the following seven major golf organizations - the pga tour, united states golf association, professional golf association of america, ladies professional golf association of america, the masters tournament, the r&a, and the pga european tour. As a result, these seven golf organizations have limited discretion to elect seven of the eight directors. Under the bylaws, the eighth director is elected by the existing directors and is not selected by any other persons or organizations.”

“The return was reviewed in detail by the senior vice president of finance, human resources, legal, and audit committee. The 990 return as filed with the irs was also mailed/emailed to the board of directors in october 2018 prior to filing.”

“The employee handbook contains comprehensive conflicts of interest policies and reporting procedures that govern all employees, including key employees and officers who are also employees. Each employee signs a certification when they review the conflicts of interest section of the employee handbook, and the employee handbook is posted at all times on the organization's intranet web site. There is no annual written disclosure form. Employees are required to disclose actual or potential conflicts of interest to an officer or the director of human resources promptly as they arise. Monitoring and managing actual or potential conflicts of interest on the board of directors and among employees is the responsibility of the chief executive officer, with advice and consultation from other officers, directors, supervisory staff and the director of human resources. As stated in the employee handbook employees and officers who are also employees are required to report any actual or potential conflicts of interest and to take appropriate action including adequate disclosure and not participating in decisions that involve the conflict of interest.”

“The 2017 compensation of the chief executive officer and the executive vice president was decided by the compensation committee comprised of independent directors based on several criteria including a written report with comparability data from the golf industry. A written record was made of the committee's compensation decisions. The compensation of other officers and key employees was determined by the chief executive officer and the executive vice president, with all such compensation reflected in the budget approved by the directors.”

“The articles of incorporation are available anytime online from the state of florida, division of corporations. The bylaws, the conflict of interest policy, and the audited financial statements are not made available to the public.”

“Pension Related Settlement Costs -321,490”