Masters Tournament Charities Inc

“Kelly flanagan, edward william jones, jr., and steve ethun have a business relationship with fred s. Ridley as well as all directors listed on part vii.”

“For the period covered by this filing, masters tournament foundation, inc. Served as the sole member of masters tournament charities, inc.”

“Masters tournament charities, inc.'s governing body is comprised of the same individuals serving on the member's governing body.”

“The board of directors may take action by a vote of a majority of the directors present at any duly held meeting of the board of directors at which a quorum is present and acting throughout; provided, however, that the following actions shall be taken by the board of directors only upon the favorable vote of at least two-thirds of the directors present and only with the approval of the member: (a) to change the philosophy, objectives and purposes of the corporation for which it was formed and exists. (b) to amend, alter, modify or repeal the articles of incorporation or these bylaws. (c) to merge, consolidate or affiliate this corporation with another corporation, organization or program. (d) to dissolve, liquidate, or terminate the existence of the corporation.”

“This form 990 is prepared by the mtc tax department in conjunction with deloitte tax, llp (deloitte). As part of this process, the mtc tax department works with other disciplines and functions within mtc and mtf to ensure that all financial and non-financial disclosures are complete and accurate. Examples of such departments include but are not limited to: finance and accounting, human resources and payroll, treasury, compliance and legal. Masters tournament charities, inc. 's form 990 is reviewed internally by the mtc chief finance officer and externally by deloitte. Deloitte signs the final return as preparer. A copy of the complete return is then provided to each member of masters tournament charities, inc. 's board of directors prior to submission to the internal revenue service.”

“In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given the opportunity to disclose all material facts to the directors and members of committees with board of directors delegated powers considering the proposed transaction or arrangement. After disclosure of the financial interest and all material facts, and after any discussion with the interested person, he/she shall leave the board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. If the board of directors or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If, after hearing the member's response and after making further investigation as warranted by the circumstances, the board of directors or committee determines the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.”

“In establishing compensation for masters tournament charities inc.'s compensation for officers, directors, highest compensated employees and highest compensated independent contractors, the corporation shall abide by the following conditions: a. All individuals that approve compensation arrangements will follow a conflict of interest policy. B. All compensation arrangements shall be approved in advance of paying compensation. C. The date and all terms of approved compensation arrangements will be documented in writing. D. The decision made by each director (individual), and their respective vote, if any, concerning all compensation arrangements shall be recorded in writing. E. The directors will approve all compensation arrangements based upon information about compensation paid by similarly situated taxable or tax-exempt organizations for similar services, current compensation surveys compiled by independent firms and/or actual written offers from similarly situated organizations. F. All information, and its source, which the directors rely upon to base decisions concerning any and all compensation arrangements shall be recorded in writing. Master's tournament charities inc. Notes that there was no compensation for its officers, directors, highest compensated employees and highest compensated independent contractors for the tax year ended december 31, 2024.”

“Masters tournament charities, inc. Makes its form 1023, 990, and 990t available to the general public upon request. Form 990 and 990-t, if applicable, are provided via the irs website.”

“Masters tournament charities, inc.'s governing documents, conflicts of interest policy and financial statements are available to the general public upon request.”

“The organization answered "no" to the question regarding whether it had a written whistleblower policy. As the first year of the charity's existence, the organization is in the process of adopting such.”

“The organization answered "no" to the question regarding whether it had a written document retention and destruction policy. As the first year of the charity's existence, the organization is in the process of adopting such.”

“Masters tournament charities, inc. Did not engage in any fundraising efforts for the tax year ended december 31, 2024. All activities listed on the statement of functional expenses are associated with the start up of the charity.”