The Lpga Foundation

“The Foundations governing documents, conflicts of interest policy and financial statement are available to the public at managements discretion.”

“Nancy Henderson is an employee of the related organization, Ladies Professional Golf Association, and receives her Form W-2 from that organization. Ms. Henderson provides services both to the LPGA and the LPGA Foundation. In the interest of clarity, the LPGA Foundation is reporting that 50% of Ms. Hendersons compensation is attributable to services rendered to the LPGA Foundation.”

“Form 990, Part VI, Line 6 The sole member of the LPGA Foundation is the Ladies Professional Golf Association.”

“Form 990, Part VI, Line 7a The Foundations bylaws reserve to the sole corporate member, the Ladies Professional Golf Association, the power to elect one or more members of the Foundations Governing Body. Any Director may be removed, with or without cause, by the member. The governance committee may nominate at-large directors for approval by the board of directors. The board of directors shall approve and recommend at-large directors for election by the member.”

“Form 990, Part VI, Line 7b The Foundation's bylaws reserve to the sole corporate member, the Ladies Professional Golf Association, the power to amend, repeal or restate the Foundation's Articles of Incorporation.”

“Form 990, Part VI, Line 11b The Form 990 is prepared by an independent accounting firm in conjunction with the Foundations management. The return is reviewed by Management prior to distribution to the full board of Directors for information purposes prior to filing.”

“Form 990, Part VI, Line 12c Board members are provided with a conflict of interest reporting form on an annual basis on which to report and disclose any real or potential conflict of interest or ethical issue to the Foundation. The obligation to report such conflicts or issues is ongoing; therefore board members are required to report any change in circumstances whenever they occur during any calendar year. Each conflict of interest reporting form shall be submitted confidentially for review to the President and Secretary, who are empowered to resolve any conflict of interest or ethical issue that may compromise a board member's ability to fulfill her or his fiduciary obligations to the Foundation. In the event that a conflict of interest or ethical issue cannot be satisfactorily resolved by the President and Secretary, the matter shall be referred to the Foundation Governance Committee which shall seek to resolve the matter. Any matter that cannot be resolved by the above procedures shall be reported to the board of directors for resolution.”

“Form 990, Part VI, Line 15a The Human Resources department of the related organization is charged with recommending the appointment, conducting performance reviews and determining the compensation of the president. This recommendation is based on the following methods: comparable industry knowledge and market surveys. The board of directors of the related organization reviews compensation during the budget process.”

“Form 990, Part VI, Line 15b The Human Resources department of the related organization is charged with recommending the appointment, conducting performance reviews and determining the compensation of officers and key employees. This recommendation is based on the following methods: comparable industry knowledge and market surveys. The board of directors of the related organization reviews compensation during the budget process.”

“FORM 990, PART VI, SECTION C, LINE 18 The Foundation makes its Form 990 available at its main place of business and on the internet at www.guidestar.org. The Foundations Form 1023 is, likewise, available at the Foundations main place of business.”