Usga Foundation

“Business relationship some of the usga foundation's current officers and directors, as reported in form 990 part vii-a, are serving as board members and/or officers of the united states golf association, the supported organization of the usga foundation, during tax year 2023. Form 990, part vi, line 3: delegation of control over management duties the united states golf association has assumed responsibility for the administration and management of usga foundation.”

“Members of the organization & election of governance body the united states golf association is the settlor and the sole member of the usga foundation and has the right to appoint the trustees of the usga foundation.”

“Members of the organization & election of governance body the united states golf association is the settlor and the sole member of the usga foundation and has the right to appoint the trustees of the usga foundation.”

“The usga by-laws provide that they may be altered or repealed by member clubs acting pursuant to the by-laws.”

“The federal form 990 is compiled by the usga foundation's tax firm grant thornton advisors, llc. After the usga's tax firm grant thornton advisors, llc has thoroughly reviewed the federal form 990 and deemed it to be accurate and complete, the federal form 990 is reviewed with the ceo and the audit committee. Before the federal form 990 is signed by an officer and submitted to the irs, a full copy of the document, including all attachments, is provided to each voting member of the executive committee.”

“The usga foundation requires executive committee members and the usga foundation-designated employees to administer their affairs honestly and efficiently, exercising due care, skill and judgment for the benefit of the usga. It is the responsibility of executive committee members and the usga employees to make a full disclosure of any personal involvement which might result in a conflict of interest or the appearance of a conflict of interest on their part. Such disclosures are submitted to the audit committee chair and/or the chief legal officer for review and consideration as per stated procedures. Additionally, once a year, the usga requires executive committee members and the usga foundation-designated employees to review the usga foundation's conflict of interest policy and submit a statement attesting to their understanding of and compliance with the policy. Any conflict of interest or the appearance of a conflict of interest must be included on the submitted statement. The audit committee reviews the statements and makes any necessary decisions to manage and/or eliminate the conflicts. Form 990, part vi section b, line 13: whistleblower policy the united states golf association, the supported organization, has a written whistleblower policy which applies to the usga foundation. Form 990, part vi, section b, line 14: document retention policy the united states golf association's document retention and destruction policy applies to all books and records held by the united states golf association, including books and records of the usga foundation.”

“Compensation policy some of the usga foundation's current officers and directors, are officers or key employees of the united states golf association. As such, their compensation is reviewed and approved by a compensation committee comprised of independent trustees. On a periodic basis, the usga does a thorough review of compensation for the ceo and the executive team. This review includes a compensation survey by an independent compensation consultant, and consideration of comparability data obtained from other sources. The survey and data are carefully considered by the usga's compensation committee to ensure that compensation is reasonable and appropriate. Mercer prepared an "executive cash compensation update" (intermediate sanctions) report dated december 31, 2022. This report would have been used to make compensation decisions for usga foundation executives for calendar year 2023. Substantiation of the deliberation and decision of the compensation committee is maintained in the meeting minutes. In addition, employees of the usga foundation undergo a thorough evaluation process at the end of each year. Performance and goals are carefully reviewed and documented, then discussed with the employee. Merit increases and bonus awards are determined based on these evaluations. Form 990, part vi, section b, line 16b: joint venture policy the usga foundation does not currently have any joint ventures but maintains a joint ventures policy to ensure that all arrangements are consistent with the organization's tax exempt status under irc section 501(c)(3). Specifically, the purpose of the policy is to set forth guidelines to help ensure that arrangements with for-profit entities will not jeopardize the usga foundation's tax-exempt status.”

“The usga foundation's most recent form 990 and audited financial statements are viewable by the public, as well as the association's annual impact report, on usga.org each year. The usga foundation makes the following documents available to the public by providing them to guidestar to post on their website at www.guidestar.org: irs letter of determination; federal form 1023; federal form 990; federal form 990-t; audited financial statements. The usga also makes its governing documents and conflict of interest policy available to the public "upon request" at its headquarters location in new jersey, during normal business hours. Form 990, part ix, line 24: shared service arrangement the usga foundation does not have its own employees; it shares employees with its parent organization, the united states golf association (ein# 13-1427105) via a common paymaster arrangement. All w-2s and required employment tax returns are filed by united states golf association. The usga foundation and united states golf association arranged a shared service agreement outlining the services and appropriate allocation of costs. The usga foundation will reimburse the united states golf association, for the cost incurred by the parent organization for providing employee and other services.”

“The usga champions and advances the game of golf. It serves millions of golfers and thousands of golf courses both in the united states and around the world through programs and services that promote a thriving, welcoming and sustainable game. The usga foundation serves as the member engagement and philanthropic giving program within the usga. It secures resources to fulfill the usga's commitment to continually invest in the game's long-term health. Through the foundation, the usga continues to fund science, research and innovation to keep the game environmentally and financially stable, while improving the golfer experience. The association is also committed to growing the amateur game, providing an open opportunity for golfers to achieve greatness and inspire others. Financial support through the foundation also celebrates and preserves the game's remarkable and rich history through its extensive collections and programming at the usga golf museum and library, among other transformative projects. The usga exists for the good of the game. For more information on the usga's programs for golf, see usga.org.”

“The usga foundation does not have its own employees; it shares employees with its parent organization, the united states golf association (ein# 13-1427105) via a common paymaster arrangement. All w-2s and required employment tax returns are filed by the united states golf association.”