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Nonprofiteer
← NATIONAL GOLF FOUNDATION INC

Form 990 for tax year 2022

Filed by NATIONAL GOLF FOUNDATION INC.

Totals

Total revenue
$2,936,680
Total expenses
$2,929,683
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$962,136
Investment income
$60,729
Other revenue
$1,913,815
Total assets, end of year
$5,488,178
Total liabilities, end of year
$1,182,556
Net assets or fund balances, end of year
$4,305,622
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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.

  • 2a · Program service revenue: Member Services

    total $962,136 · related or exempt $962,136

  • 3 · Investment income

    total $60,546 · excluded $60,546

  • 5 · Royalties

    total $4,589 · excluded $4,589

  • 7a · Gross sales of assets other than inventory

    other assets $183

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

    other assets $0

  • 7c · Gain or loss

    other assets $183

  • 7d · Net gain or loss

    total $183 · excluded $183

  • 10a · Gross sales of inventory

    $2,485,663

  • 10b · Cost of goods sold

    $771,222

  • 10c · Net income from sales of inventory

    total $1,714,441 · related or exempt $1,714,441

  • 11a · Other revenue: NGF-Newsletter

    total $141,666 · related or exempt $141,666

  • 11b · Other revenue: Sponsorship-International Databas

    total $50,000 · related or exempt $50,000

  • 11c · Other revenue: Marketing - Leadership Symposium

    total $2,059 · related or exempt $2,059

  • 11d · All other revenue

    total $1,060 · related or exempt $1,060

  • 11e · Other revenue, total

    $194,785

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $973,505

  • 7 · Other salaries and wages

    total $1,061,474

  • 8 · Pension plan contributions

    total $19,464

  • 9 · Other employee benefits

    total $122,341

  • 10 · Payroll taxes

    total $125,048

  • 11b · Fees: legal

    total $8,550

  • 11c · Fees: accounting

    total $32,725

  • 11f · Fees: investment management

    total $885

  • 11g · Fees: other

    total $150,397

  • 12 · Advertising and promotion

    total $53,497

  • 13 · Office expenses

    total $207,430

  • 14 · Information technology

    total $6,278

  • 16 · Occupancy

    total $242,691

  • 17 · Travel

    total $38,752

  • 19 · Conferences, conventions and meetings

    total $86,977

  • 22 · Depreciation, depletion and amortization

    total $62,171

  • 23 · Insurance

    total $23,888

  • 24a · Other expenses: Product Development

    total $25,720

  • 24b · Other expenses: Meals & Entertainment

    total $24,841

  • 24c · Other expenses: Overhead Allocation

    total -$336,951

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $200 · end of year $200

  • 2 · Savings and temporary cash investments

    beginning of year $151,129 · end of year $350,638

  • 4 · Accounts receivable

    beginning of year $264,496 · end of year $195,343

  • 8 · Inventories for sale or use

    beginning of year $2,917 · end of year $2,528

  • 9 · Prepaid expenses and deferred charges

    beginning of year $89,144 · end of year $112,961

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

    $967,667

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

    $752,335

  • 10c · Land, buildings and equipment, net

    beginning of year $199,937 · end of year $215,332

  • 11 · Investments: publicly traded securities

    beginning of year $4,063,085 · end of year $3,722,175

  • 15 · Other assets

    beginning of year $1,187,804 · end of year $889,001

  • 17 · Accounts payable and accrued expenses

    beginning of year $762,696 · end of year $553,808

  • 19 · Deferred revenue

    beginning of year $101,434 · end of year $133,865

  • 25 · Other liabilities

    beginning of year $153,414 · end of year $494,883

  • 27 · Net assets without donor restrictions

    beginning of year $4,941,168 · end of year $4,305,622

Mission and programs · 2022

Mission

NGF's mission is to foster the growth and vitality of the game and business of golf.

Activities or mission (Part I)

See Schedule O NGF's mission is to foster the growth and vitality of the game and business of golf. During 2022, NGF hosted its fourteenth annual golf business symposium with a draw of nearly 150 of the top executives in golf in attendance. The Symposiums covered topics related to the Evolution of Golf: Brand Image, Media, and Play, as well as the state of the golf industry. NGF did produce its annual reports: Graffis Report, Golf Participation in the US, and Golf Facilities in the US. These reports were delivered to approximately 4,000 members nationwide. In addition, NGF produced a biweekly electronic newsletter to more than 50,000 individuals in the golf industry reporting industry insights on the health of golf throughout the pandemic.

  • NGF's mission is to foster the growth and vitality of the game and business of golf. During 2022, NGF hosted its fourteenth annual golf business symposium with a draw of nearly 150 of the top executives in golf in attendance. The Symposiums covered topics related to the Evolution of Golf: Brand Image, Media, and Play, as well as the state of the golf industry.

  • NGF did produce its annual reports: Graffis Report, Golf Participation in the US, and Golf Facilities in the US. These reports were delivered to approximately 4,000 members nationwide. In addition, NGF produced a biweekly electronic newsletter to more than 50,000 individuals in the golf industry reporting industry insights on the health of golf throughout the pandemic.

As filed on the 2022 return.

Listed in Part VII

  • John K Solheim

    Chairman

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Tim Schantz

    Vice Chairman

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Brad Hamilton

    Secretary/Treasurer

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Joe Assell

    Director

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Anne Broholm

    Director

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Mike McCarley

    Director

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Annika Sorenstam

    Director

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Dick Sullivan

    Director

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Joseph Beditz

    President & CEO

    Total calculated
    $545,078
    From this org
    $497,922
    From related orgs
    $0
    Other
    $47,156
    Hours/week
    18 + 22 related

    Schedule J breakdown matched by us

    Base
    $317,305
    Bonus
    $180,617
    Other
    $0
    Deferred
    $34,034
    Nontaxable benefits
    $13,122
    Filer's total
    $545,078

  • Kim Isom

    Chief Financial Officer

    Total calculated
    $116,621
    From this org
    $109,431
    From related orgs
    $0
    Other
    $7,190
    Hours/week
    27 + 13 related

  • Gregory Nathan

    Chief Business Officer

    Total calculated
    $311,809
    From this org
    $279,518
    From related orgs
    $0
    Other
    $32,291
    Hours/week
    34 + 6 related

    Schedule J breakdown matched by us

    Base
    $175,553
    Bonus
    $103,965
    Other
    $0
    Deferred
    $15,092
    Nontaxable benefits
    $17,199
    Filer's total
    $311,809

  • Ted Eleftheriou

    VP of Player Development

    Total calculated
    $200,101
    From this org
    $179,000
    From related orgs
    $0
    Other
    $21,101
    Hours/week
    30 + 10 related

    Schedule J breakdown matched by us

    Base
    $148,100
    Bonus
    $30,900
    Other
    $0
    Deferred
    $4,050
    Nontaxable benefits
    $17,051
    Filer's total
    $200,101

  • David Lorentz

    Chief Research Officer

    Total calculated
    $165,172
    From this org
    $149,977
    From related orgs
    $0
    Other
    $15,195
    Hours/week
    6 + 34 related

    Schedule J breakdown matched by us

    Base
    $130,664
    Bonus
    $19,313
    Other
    $0
    Deferred
    $7,651
    Nontaxable benefits
    $7,544
    Filer's total
    $165,172

  • Adam Roland

    Business Resource Consulta

    Total calculated
    $215,795
    From this org
    $192,604
    From related orgs
    $0
    Other
    $23,191
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,260
    Bonus
    $54,344
    Other
    $0
    Deferred
    $6,140
    Nontaxable benefits
    $17,051
    Filer's total
    $215,795

  • Clark Brown

    Director of Research

    Total calculated
    $149,236
    From this org
    $129,705
    From related orgs
    $0
    Other
    $19,531
    Hours/week
    8 + 32 related

  • Richard Singer

    Director of Consulting Services

    Total calculated
    $141,518
    From this org
    $127,285
    From related orgs
    $0
    Other
    $14,233
    Hours/week
    0 + 40 related

  • Kevin McLendon

    Director of Product Services

    Total calculated
    $141,351
    From this org
    $117,091
    From related orgs
    $0
    Other
    $24,260
    Hours/week
    40

  • David Berg

    Director of MIS

    Total calculated
    $126,719
    From this org
    $107,092
    From related orgs
    $0
    Other
    $19,627
    Hours/week
    32 + 8 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 · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

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.

  • National Golf Foundation 1

    501(C)(3) · Support for National Golf Foundation · IL · controlled entity

    Directly controlled by National Golf Foundation Inc

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 corporations and trusts

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

  • National Golf Foundation Consulting Inc

    C · Golf Business Research, Information and Consulting · DE · 100% owned

Provenance

Return type
form_990
Tax year
2022
Filed
29 October 2023
IRS schema version
2022v5.0
Source object
202313069349301916

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