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Nonprofiteer
← PGA FINANCIAL ASSISTANCE FUND INC

Form 990 for tax year 2024

Filed by PGA FINANCIAL ASSISTANCE FUND INC.

Totals

Total revenue
$1,117,773
Total expenses
$429,508
Contributions and grants received
$170,046
Grants paid
$400,000
Program service revenue
$0
Investment income
$947,727
Other revenue
$0
Total assets, end of year
$8,845,054
Total liabilities, end of year
$6,806
Net assets or fund balances, end of year
$8,838,248
Program services expenses (Part IX)
$417,500
Management and general expenses
$12,008
Fundraising expenses
$0
Program service expenses (Part III)
$417,500

Program services were 97.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $170,046

  • 3 · Investment income

    total $242,959 · excluded $242,959

  • 7a · Gross sales of assets other than inventory

    other assets $704,768

  • 7b · Less cost or other basis and sales expenses

    other assets $0

  • 7c · Gain or loss

    other assets $704,768

  • 7d · Net gain or loss

    total $704,768 · excluded $704,768

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $400,000 · program services $400,000

  • 11a · Fees: management

    total $12,000 · management and general $12,000

  • 11g · Fees: other

    total $17,508 · program services $17,500 · management and general $8

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $550 · end of year $550

  • 11 · Investments: publicly traded securities

    beginning of year $9,233,458 · end of year $8,844,504

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,115

  • 25 · Other liabilities

    beginning of year $977,233 · end of year $6,806

  • 27 · Net assets without donor restrictions

    beginning of year $8,255,660 · end of year $8,838,248

Mission and programs · 2024

Mission

The Organization's primary exempt purpose is to encourage & promote the attainment of higher educational goals by awarding scholarships based on a high level of academic achievement. In addition, the Organization's purpose is to provide temporary financial aid to those in dire financial need usually as a result of an accident or sudden illness.

Activities or mission (Part I)

The Organization's primary exempt purpose is to promote higher education through financial aid.

  • Scholarship Programs - As detailed on Schedule I, numerous individuals were granted scholarships to attend various colleges and universities as a result of their high academic achievements.

    Expenses $417,500 · Grants $400,000

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Seth Waugh

    CEO

    Total calculated
    $3,904,941
    From this org
    $0
    From related orgs
    $3,897,897
    Other
    $7,044
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,166,418 related
    Bonus
    $0 + $1,296,000 related
    Other
    $0 + $1,435,479 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $7,044 related
    Filer's total
    $0 + $3,904,941 related

  • Eric Eshleman

    Secretary

    Total calculated
    $10,935
    From this org
    $0
    From related orgs
    $10,935
    Other
    $0
    Hours/week
    1 + 9 related

  • Don Rea

    President

    Total calculated
    $81,477
    From this org
    $0
    From related orgs
    $81,477
    Other
    $0
    Hours/week
    1 + 9 related

  • Nathan Charnes

    Vice President

    Total calculated
    $87,774
    From this org
    $0
    From related orgs
    $87,774
    Other
    $0
    Hours/week
    1 + 9 related

  • Henry Smokler

    General Counsel

    Total calculated
    $795,234
    From this org
    $0
    From related orgs
    $747,264
    Other
    $47,970
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $511,991 related
    Bonus
    $0 + $160,974 related
    Other
    $0 + $74,299 related
    Deferred
    $0 + $34,500 related
    Nontaxable benefits
    $0 + $13,470 related
    Filer's total
    $0 + $795,234 related

  • Craig Kessler

    COO

    Total calculated
    $1,378,205
    From this org
    $0
    From related orgs
    $1,318,995
    Other
    $59,210
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $936,045 related
    Bonus
    $0 + $290,000 related
    Other
    $0 + $92,950 related
    Deferred
    $0 + $26,904 related
    Nontaxable benefits
    $0 + $32,306 related
    Filer's total
    $0 + $1,378,205 related

  • John Connelly

    CFO

    Total calculated
    $607,453
    From this org
    $0
    From related orgs
    $590,177
    Other
    $17,276
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $487,034 related
    Bonus
    $0 + $61,478 related
    Other
    $0 + $41,665 related
    Deferred
    $0 + $17,250 related
    Nontaxable benefits
    $0 + $26 related
    Filer's total
    $0 + $607,453 related

  • Derek Sprague

    CEO

    Total calculated
    $5,230
    From this org
    $0
    From related orgs
    $5,230
    Other
    $0
    Hours/week
    1 + 39 related

  • John Easterbrook

    CMO

    Total calculated
    $1,122,345
    From this org
    $0
    From related orgs
    $1,083,006
    Other
    $39,339
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $710,461 related
    Bonus
    $0 + $253,063 related
    Other
    $0 + $119,482 related
    Deferred
    $0 + $31,050 related
    Nontaxable benefits
    $0 + $8,289 related
    Filer's total
    $0 + $1,122,345 related

  • Sandra Cross

    CPO

    Total calculated
    $549,662
    From this org
    $0
    From related orgs
    $508,835
    Other
    $40,827
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $339,630 related
    Bonus
    $0 + $106,847 related
    Other
    $0 + $62,358 related
    Deferred
    $0 + $31,785 related
    Nontaxable benefits
    $0 + $9,042 related
    Filer's total
    $0 + $549,662 related

  • Kevin Scott

    CTO

    Total calculated
    $547,628
    From this org
    $0
    From related orgs
    $513,115
    Other
    $34,513
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $337,853 related
    Bonus
    $0 + $111,121 related
    Other
    $0 + $64,141 related
    Deferred
    $0 + $34,500 related
    Nontaxable benefits
    $0 + $13 related
    Filer's total
    $0 + $547,628 related

  • Drew Blasband

    SD

    Total calculated
    $445,374
    From this org
    $0
    From related orgs
    $381,579
    Other
    $63,795
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $288,592 related
    Bonus
    $0 + $67,534 related
    Other
    $0 + $25,453 related
    Deferred
    $0 + $34,500 related
    Nontaxable benefits
    $0 + $29,295 related
    Filer's total
    $0 + $445,374 related

  • Jeffrey Bloom

    FP&B Controller

    Total calculated
    $389,405
    From this org
    $0
    From related orgs
    $334,304
    Other
    $55,101
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $249,697 related
    Bonus
    $0 + $54,115 related
    Other
    $0 + $30,492 related
    Deferred
    $0 + $33,783 related
    Nontaxable benefits
    $0 + $21,318 related
    Filer's total
    $0 + $389,405 related

  • Diane Patz

    Senior Director

    Total calculated
    $380,514
    From this org
    $0
    From related orgs
    $328,819
    Other
    $51,695
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $233,001 related
    Bonus
    $0 + $53,809 related
    Other
    $0 + $42,009 related
    Deferred
    $0 + $33,595 related
    Nontaxable benefits
    $0 + $18,100 related
    Filer's total
    $0 + $380,514 related

  • John Lindert

    Past President

    Total calculated
    $110,814
    From this org
    $0
    From related orgs
    $110,814
    Other
    $0
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0 + $110,814 related
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $110,814 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · First-class or charter travel
  • 1a · Travel for companions
  • 1a · Tax indemnification and gross-up payments
  • 1a · Health or social club dues or initiation fees
  • 1a · Personal services (maid, chauffeur, chef)
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 4a · Severance or change-of-control payment

Answered no

  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 1a
In certain cases employees, officers, board members, and/or their companions are provided the following items. - Certain employees, officers, board members, and/or their companions may utilize first class or charter travel for business purposes based on security, privacy, and timing concerns. - Certain employees and officers are provided health or social club dues or initiation fees. - Certain employees and officers are provided personal services. - Certain employees, officers, and board members are provided tax gross-up payments. All items that result in reportable compensation are properly reported to the individual recipient either within their W-2 or 1099 reporting each year.
Part I, Line 3
Related Org Methods Used for Compensation Explanation. The CEO is paid by a related organization. The CEO's compensation is established by the related organization through the use of the following methods: a compensation committee; an independent consultant; and, a compensation survey or study. The compensation is documented in a written employment contract and approved by the board or compensation committee.
Part I, Line 4a
Seth Waugh - $1,136,842

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • PGA SIF LP

    Investment · DE

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Nextgengolf Inc

    C · Golf Rltd. · FL · controlled entity

  • PGA Corporation

    C · Employee Management · FL · controlled entity

  • PGA Golf Enterprises Inc

    C · Licensing · FL · controlled entity

  • PGA Golf Properties Inc

    C · Golf Rltd. · FL · controlled entity

  • PGA Golf Partners Inc

    C · Golf Rltd. · FL · controlled entity

  • PGA Management Services Inc

    C · Employee Management · FL · controlled entity

  • PGA Reserve Inc

    C · Golf Course Operation · FL · controlled entity

  • PGA Tournament Corporation Inc

    C · Spectator Event Management · FL · controlled entity

  • PGA Valhalla Inc

    C · Golf Rltd. · FL · controlled entity

Provenance

Return type
form_990
Tax year
2024
Filed
1 September 2025
IRS schema version
2024v5.5
Source object
202640309349300029

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