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Nonprofiteer
← TIGER WOODS CHARITY EVENT CORP

Form 990 for tax year 2022

Filed by TIGER WOODS CHARITY EVENT CORP.

Totals

Total revenue
$49,591,593
Total expenses
$49,584,922
Contributions and grants received
$1,621,727
Grants paid
$6,861,343
Program service revenue
$47,344,739
Investment income
$128,150
Other revenue
$496,977
Total assets, end of year
$23,965,748
Total liabilities, end of year
$22,972,665
Net assets or fund balances, end of year
$993,083
Program services expenses (Part IX)
$48,513,633
Management and general expenses
$526,219
Fundraising expenses
$545,070
Program service expenses (Part III)
$48,513,633

Program services were 97.8% 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

    $472,363

  • 1f · All other contributions, gifts and grants

    $1,149,364

  • 1g · Noncash contributions included above

    $349,712

  • 2a · Program service revenue: PROGRAM SERVICES

    total $47,344,739 · related or exempt $47,344,739

  • 3 · Investment income

    total $127,767 · excluded $127,767

  • 7a · Gross sales of assets other than inventory

    securities $25,428

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

    securities $25,045

  • 7c · Gain or loss

    securities $383

  • 7d · Net gain or loss

    total $383 · excluded $383

  • 8a · Fundraising events: gross income

    $165,286

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

    $472,363

  • 8b · Fundraising events: direct expenses

    $187,389

  • 8c · Net income from fundraising events

    total -$22,103 · excluded -$22,103

  • 9a · Gaming: gross income

    $587,100

  • 9b · Gaming: direct expenses

    $147,842

  • 9c · Net income from gaming

    total $439,258 · excluded $439,258

  • 11a · Other revenue: REFUNDS AND REBATES

    total $79,813 · excluded $79,813

  • 11b · Other revenue: MISC INCOME

    total $9 · excluded $9

  • 11e · Other revenue, total

    $79,822

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $6,861,343 · program services $6,861,343

  • 5 · Compensation of officers, directors and key employees

    total $104,322 · program services $62,638 · management and general $19,503 · fundraising $22,181

  • 7 · Other salaries and wages

    total $2,685,949 · program services $2,126,484 · management and general $152,517 · fundraising $406,948

  • 8 · Pension plan contributions

    total $88,804 · program services $69,667 · management and general $5,479 · fundraising $13,658

  • 9 · Other employee benefits

    total $258,259 · program services $202,604 · management and general $15,935 · fundraising $39,720

  • 10 · Payroll taxes

    total $185,041 · program services $145,165 · management and general $11,417 · fundraising $28,459

  • 11b · Fees: legal

    total $3,901 · program services $3,901

  • 11c · Fees: accounting

    total $134,985 · program services $38,374 · management and general $96,379 · fundraising $232

  • 11g · Fees: other

    total $887,713 · program services $868,261 · management and general $5,570 · fundraising $13,882

  • 12 · Advertising and promotion

    total $11,985,675 · program services $11,985,675

  • 13 · Office expenses

    total $533,225 · program services $389,471 · management and general $142,633 · fundraising $1,121

  • 14 · Information technology

    total $22,377 · program services $22,377

  • 16 · Occupancy

    total $128,460 · program services $90,003 · management and general $23,129 · fundraising $15,328

  • 17 · Travel

    total $244,037 · program services $241,714 · management and general $153 · fundraising $2,170

  • 19 · Conferences, conventions and meetings

    total $60,844 · program services $7,340 · management and general $53,504

  • 23 · Insurance

    total $136,404 · program services $136,404

  • 24a · Other expenses: TOURNAMENT COSTS

    total $25,263,583 · program services $25,262,212 · fundraising $1,371

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,507 · end of year $7

  • 2 · Savings and temporary cash investments

    beginning of year $15,606,373 · end of year $13,219,891

  • 3 · Pledges and grants receivable

    beginning of year $339,000 · end of year $207,470

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $12,899 · end of year $1,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $9,209,313 · end of year $10,537,380

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,289,910 · end of year $1,122,431

  • 18 · Grants payable

    beginning of year $2,228,235 · end of year $950,000

  • 19 · Deferred revenue

    beginning of year $19,668,535 · end of year $20,900,234

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $986,412 · end of year $993,083

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

TO FUNCTION AS A SUPPORTING ORGANIZATION IN FURTHERANCE OF THE CHARITABLE ACTIVITIES, EDUCATIONAL PROGRAMS FOR YOUTH, AND GOALS OF THE TIGER WOODS FOUNDATION, INC., A PUBLICLY SUPPORTED ORGANIZATION FORMED & QUALIFIED UNDER SECTION 501(C)(3) OF THE IRC.

Activities or mission (Part I)

SUPPORTS THE PROGRAMS OF THE TIGER WOODS FOUNDATION INCLUDING ITS MULTIPLE EDUCATIONAL LEARNING CENTERS, NATIONAL SCHOLARSHIP PROGRAM AND VIRTUAL EDUCATIONAL OPPORTUNITIES.

  • TGR LIVE RAISES FUNDS FOR THE TGR FOUNDATION AND ITS EDUCATIONAL PROGRAMS. THE CHARITY CREATES UNIQUE EXPERIENCES FOR ALL DONORS AND GUESTS, WHILE HELPING YOUNG SCHOLARS AND STUDENTS TO ACHIEVE THEIR LIFE GOALS THROUGH TGR FOUNDATION'S EDUCATIONAL PROGRAMS. TGR LIVE PRODUCED 5 CHARITABLE EVENTS DURING THE YEAR OF 10/01/2022 THROUGH 9/30/2023. FOR DETAILED EVENT INFORMATION SEE SCHEDULE O.

    Expenses $48,513,633 · Grants $6,861,343 · Revenue $47,344,739

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Gordon McNeil

    PRES/SEC/CEO (THRU 12/22)

    Total calculated
    $598,373
    From this org
    $271,300
    From related orgs
    $267,500
    Other
    $59,573
    Hours/week
    30 + 30 related

    Schedule J breakdown matched by us

    Base
    $266,300 + $267,500 related
    Bonus
    $5,000
    Other
    $0
    Deferred
    $12,200
    Nontaxable benefits
    $47,373
    Filer's total
    $330,873 + $267,500 related

  • Chris Hubman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mike McKee

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Cyndi Court

    CEO/SEC (AS OF 07/05/23)

    Total calculated
    $0
    Hours/week
    30 + 30 related

  • Jin C Thatcher

    TREASURER

    Total calculated
    $323,382
    From this org
    $0
    From related orgs
    $279,564
    Other
    $43,818
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $255,564 related
    Bonus
    $0 + $24,000 related
    Other
    $0
    Deferred
    $0 + $6,884 related
    Nontaxable benefits
    $0 + $36,934 related
    Filer's total
    $0 + $323,382 related

  • Michelle A Bemis

    PRESIDENT, EVENTS

    Total calculated
    $308,186
    From this org
    $280,764
    From related orgs
    $0
    Other
    $27,422
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $256,764
    Bonus
    $24,000
    Other
    $0
    Deferred
    $10,272
    Nontaxable benefits
    $17,150
    Filer's total
    $308,186

  • Michael Antolini

    SVP CHAMPIONSHIPS

    Total calculated
    $287,203
    From this org
    $256,800
    From related orgs
    $0
    Other
    $30,403
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $234,800
    Bonus
    $22,000
    Other
    $0
    Deferred
    $9,416
    Nontaxable benefits
    $20,987
    Filer's total
    $287,203

  • Daniel F Callahan

    AVP CORP PARTNERS

    Total calculated
    $210,493
    From this org
    $150,725
    From related orgs
    $0
    Other
    $59,768
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $102,632
    Bonus
    $48,093
    Other
    $0
    Deferred
    $5,911
    Nontaxable benefits
    $53,857
    Filer's total
    $210,493

  • David S Klewan

    GM, GENESIS INV

    Total calculated
    $253,093
    From this org
    $213,100
    From related orgs
    $0
    Other
    $39,993
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $201,600
    Bonus
    $11,500
    Other
    $0
    Deferred
    $6,422
    Nontaxable benefits
    $33,571
    Filer's total
    $253,093

  • Matthew S Cusick

    DIRECTOR, SALES

    Total calculated
    $211,360
    From this org
    $180,305
    From related orgs
    $0
    Other
    $31,055
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $91,000
    Bonus
    $89,305
    Other
    $0
    Deferred
    $3,688
    Nontaxable benefits
    $27,367
    Filer's total
    $211,360

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

  • 5a · Pay contingent on this organization's revenues

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 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 3
THE ORGANIZATION RELIED ON A RELATED ORGANIZATION, TIGER WOODS FOUNDATION, INC., THAT USED ONE OR MORE OF THE FOLLOWING METHODS DESCRIBED IN SCHEDULE J, PART I, LINE 3, TO ESTABLISH THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL'S COMPENSATION: COMPENSATION COMMITTEE INDEPENDENT COMPENSATION CONSULTANT COMPENSATION SURVEY AND STUDY APPROVAL BY THE BOARD AND COMPENSATION COMMITTEE
PART I, LINE 5
THE ORGANIZATION ENTERED INTO VARIABLE COMPENSATION ARRANGEMENTS WITH DANIEL CALLAHAN AND MATTHEW CUSICK. THEY ARE ELIGIBLE TO EARN A COMMISSION OF 2-4% OF REVENUES FOR THE ORGANIZATION'S EVENTS AND FUNDRAISERS, IF THE REVENUE GENERATED EXCEEDED SPECIFIED TARGET GOALS. AMOUNTS PAID UNDER THESE ARRANGEMENTS AMOUNTED TO $48,093 AND $89,305 AND ARE INCLUDED IN COLUMN (B)(II) IN PART II.
PART I, LINE 3:
COMPENSATION FROM RELATED ORGANIZATIONS THE PRESIDENT, SECRETARY AND CEO, GORDEN MCNEILL, WAS COMPENSATED THROUGH TIGER WOODS CHARITY EVENT CORPORATION, AND A RELATED 501(C)(3) ORGANIZATION, TIGER WOODS FOUNDATION, INC., WHERE HE DEVOTED A COMBINED TOTAL OF 60 HOURS PER WEEK. IN CONJUNCTION WITH HIS DUTIES AS PRESIDENT AND CEO OF THE TIGER WOODS FOUNDATION, HE OVERSAW ALL TIGER WOODS LEARNING CENTERS AND ALL THE NATIONAL SCHOLARSHIP PROGRAMS.

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
2022
Filed
14 August 2024
IRS schema version
2022v5.0
Source object
202402279349303530

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