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← PGA REACH CAROLINAS FOUNDATION

Form 990 for tax year 2024

Filed by PGA REACH CAROLINAS FOUNDATION.

Totals

Total revenue
$1,401,939
Total expenses
$1,259,828
Contributions and grants received
$1,242,695
Grants paid
$102,828
Program service revenue
$103,806
Investment income
$52,185
Other revenue
$3,253
Total assets, end of year
$1,947,338
Total liabilities, end of year
$529,358
Net assets or fund balances, end of year
$1,417,980
Program services expenses (Part IX)
$1,062,303
Management and general expenses
$179,471
Fundraising expenses
$18,054
Program service expenses (Part III)
$1,062,303

Program services were 84.3% 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.

  • 1c · Fundraising events

    $265,222

  • 1f · All other contributions, gifts and grants

    $977,473

  • 1g · Noncash contributions included above

    $104,512

  • 2a · Program service revenue: TOURNAMENT REVENUE

    total $55,806 · related or exempt $55,806

  • 2b · Program service revenue: MANAGEMENT FEE REVENUE

    total $36,000 · related or exempt $36,000

  • 2c · Program service revenue: SPONSORSHIP REVENUE

    total $12,000 · excluded $12,000

  • 3 · Investment income

    total $35,281 · excluded $35,281

  • 7a · Gross sales of assets other than inventory

    securities $536,192

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

    securities $519,288

  • 7c · Gain or loss

    securities $16,904

  • 7d · Net gain or loss

    total $16,904 · excluded $16,904

  • 8a · Fundraising events: gross income

    $66,900

  • 8a · Fundraising events: contributions included on line 1c

    $265,222

  • 8b · Fundraising events: direct expenses

    $63,647

  • 8c · Net income from fundraising events

    total $3,253 · excluded $3,253

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $102,828 · program services $102,828

  • 11a · Fees: management

    total $543,651 · program services $407,738 · management and general $135,913

  • 11b · Fees: legal

    total $28 · management and general $28

  • 11f · Fees: investment management

    total $7,663 · management and general $7,663

  • 11g · Fees: other

    total $342,709 · program services $342,709

  • 12 · Advertising and promotion

    total $13,694 · management and general $13,173 · fundraising $521

  • 13 · Office expenses

    total $12,393 · program services $10,694 · management and general $1,548 · fundraising $151

  • 17 · Travel

    total $57,907 · program services $42,976 · management and general $12,190 · fundraising $2,741

  • 22 · Depreciation, depletion and amortization

    total $3,289 · program services $3,289

  • 24a · Other expenses: TOURNAMENT PRIZES

    total $79,994 · program services $68,992 · management and general $6,507 · fundraising $4,495

  • 24b · Other expenses: TOURNAMENT OPERATIONS

    total $60,389 · program services $59,889 · fundraising $500

  • 24c · Other expenses: FOOD AND BEVERAGE

    total $25,288 · program services $22,631 · fundraising $2,657

  • 24d · Other expenses: PROCESSING FEES

    total $9,881 · program services $532 · management and general $2,360 · fundraising $6,989

  • 24e · All other expenses

    total $114 · program services $25 · management and general $89

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $362,507 · end of year $698,507

  • 2 · Savings and temporary cash investments

    beginning of year $21,614 · end of year $28,963

  • 4 · Accounts receivable

    beginning of year $41,086 · end of year $158,525

  • 10a · Land, buildings and equipment: cost or other basis

    $23,025

  • 10b · Land, buildings and equipment: accumulated depreciation

    $4,934

  • 10c · Land, buildings and equipment, net

    beginning of year $21,380 · end of year $18,091

  • 11 · Investments: publicly traded securities

    beginning of year $846,832 · end of year $1,043,252

  • 15 · Other assets

    beginning of year $25,038 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $53,587 · end of year $83,982

  • 19 · Deferred revenue

    beginning of year $50,203 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $445,376

  • 27 · Net assets without donor restrictions

    beginning of year $1,203,765 · end of year $1,398,078

  • 28 · Net assets with donor restrictions

    beginning of year $10,902 · end of year $19,902

Mission and programs · 2024

Mission

THE PGA REACH CAROLINAS FOUNDATION IS A 501(C)(3) NONPROFIT ORGANIZATION AND PHILANTHROPIC ARM OF THE CAROLINAS PGA SECTION. WE ARE COMMITTED TO SERVING OUR COMMUNITIES AND GROWING THE GAME OF GOLF THROUGH OUR THREE PILLARS- YOUTH, MILITARY, AND DIVERSITY & INCLUSION.

  • GROWING THE GAME OF GOLF VIA EVENTS FOR YOUTH, MILITARY AND INCLUSION.

    Expenses $1,062,303 · Grants $102,828 · Revenue $91,806

As filed on the 2024 return.

Listed in Part VII

  • Josh Wagaman

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Jeff Avant

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Ben Bridgers

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Chris Byrd

    PAST PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Ken Haigler

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jeff Abbot

    EXECUTIVE DIRECTOR

    Total calculated
    $429,200
    From this org
    $0
    From related orgs
    $411,933
    Other
    $17,267
    Hours/week
    10 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $411,933 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $11,706 related
    Nontaxable benefits
    $0 + $5,561 related
    Filer's total
    $0 + $429,200 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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 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

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

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.

Provenance

Return type
form_990
Tax year
2024
Filed
8 August 2025
IRS schema version
2024v5.2
Source object
202542209349300909

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