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Nonprofiteer
← TIGER WOODS CHARITY EVENT CORP

Form 990 for tax year 2023

Filed by TIGER WOODS CHARITY EVENT CORP.

Totals

Total revenue
$55,549,771
Total expenses
$55,548,102
Contributions and grants received
$3,841,685
Grants paid
$9,729,044
Program service revenue
$50,056,546
Investment income
$393,406
Other revenue
$1,258,134
Total assets, end of year
$27,458,390
Total liabilities, end of year
$26,463,638
Net assets or fund balances, end of year
$994,752
Program services expenses (Part IX)
$54,455,537
Management and general expenses
$548,531
Fundraising expenses
$544,034
Program service expenses (Part III)
$54,455,537

Program services were 98.0% 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

    $735,126

  • 1f · All other contributions, gifts and grants

    $3,106,559

  • 1g · Noncash contributions included above

    $494,182

  • 2a · Program service revenue: PROGRAM SERVICES

    total $50,056,546 · related or exempt $50,056,546

  • 3 · Investment income

    total $393,752 · excluded $393,752

  • 7a · Gross sales of assets other than inventory

    securities $93,025

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

    securities $93,371

  • 7c · Gain or loss

    securities -$346

  • 7d · Net gain or loss

    total -$346 · excluded -$346

  • 8a · Fundraising events: gross income

    $717,151

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

    $735,126

  • 8b · Fundraising events: direct expenses

    $395,286

  • 8c · Net income from fundraising events

    total $321,865 · excluded $321,865

  • 9a · Gaming: gross income

    $1,045,500

  • 9b · Gaming: direct expenses

    $200,919

  • 9c · Net income from gaming

    total $844,581 · excluded $844,581

  • 11a · Other revenue: REFUNDS AND REBATES

    total $89,878 · excluded $89,878

  • 11b · Other revenue: MISC INCOME

    total $1,810 · excluded $1,810

  • 11e · Other revenue, total

    $91,688

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $9,729,044 · program services $9,729,044

  • 5 · Compensation of officers, directors and key employees

    total $122,875 · program services $92,156 · fundraising $30,719

  • 7 · Other salaries and wages

    total $2,852,896 · program services $2,239,634 · management and general $219,037 · fundraising $394,225

  • 8 · Pension plan contributions

    total $90,953 · program services $71,271 · management and general $6,694 · fundraising $12,988

  • 9 · Other employee benefits

    total $326,157 · program services $255,577 · management and general $24,006 · fundraising $46,574

  • 10 · Payroll taxes

    total $200,522 · program services $157,129 · management and general $14,758 · fundraising $28,635

  • 11b · Fees: legal

    total $11,414 · program services $11,414

  • 11c · Fees: accounting

    total $86,857 · program services $7,062 · management and general $79,795

  • 11g · Fees: other

    total $1,138,768 · program services $1,116,363 · management and general $7,620 · fundraising $14,785

  • 12 · Advertising and promotion

    total $12,641,520 · program services $12,641,520

  • 13 · Office expenses

    total $466,048 · program services $368,599 · management and general $96,974 · fundraising $475

  • 14 · Information technology

    total $15,191 · program services $15,191

  • 16 · Occupancy

    total $117,887 · program services $75,631 · management and general $27,369 · fundraising $14,887

  • 17 · Travel

    total $252,864 · program services $252,864

  • 19 · Conferences, conventions and meetings

    total $79,703 · program services $7,425 · management and general $72,278

  • 23 · Insurance

    total $139,479 · program services $139,479

  • 24a · Other expenses: TOURNAMENT COSTS

    total $27,275,924 · program services $27,275,178 · fundraising $746

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7 · end of year $8,351

  • 2 · Savings and temporary cash investments

    beginning of year $13,219,891 · end of year $16,020,490

  • 3 · Pledges and grants receivable

    beginning of year $207,470 · end of year $359,870

  • 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 $1,000 · end of year $1,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $10,537,380 · end of year $11,068,679

  • 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 $1,122,431 · end of year $969,071

  • 18 · Grants payable

    beginning of year $950,000 · end of year $4,380,000

  • 19 · Deferred revenue

    beginning of year $20,900,234 · end of year $21,114,567

  • 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 $993,083 · end of year $994,752

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

TO FUNCTION AS A SUPPORTING ORGANIZATION IN THE FURTHERANCE OF THE CHARITABLE ACTIVITIES, EDUCATIONAL PROGRAMS FOR YOUTH, AND THE GOALS OF THE TIGER WOODS FOUNDATION, INC., A PUBLICLY SUPPORTED ORGANIZATION FORMED AND 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 10/01/2023 THROUGH 9/30/2024. FOR DETAILED EVENT INFORMATION SEE SCHEDULE O.

    Expenses $54,455,537 · Grants $9,729,044 · Revenue $50,056,546

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Cyndi Court

    CEO/SECRETARY

    Total calculated
    $252,796
    From this org
    $53,802
    From related orgs
    $191,404
    Other
    $7,590
    Hours/week
    15 + 40 related

    Schedule J breakdown matched by us

    Base
    $53,802 + $161,404 related
    Bonus
    $0 + $30,000 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $7,590 related
    Filer's total
    $53,802 + $198,994 related

  • Chris Hubman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mike McKee

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Jin Thatcher

    COO/TREASURER

    Total calculated
    $395,503
    From this org
    $0
    From related orgs
    $346,264
    Other
    $49,239
    Hours/week
    1 + 49 related

    Schedule J breakdown matched by us

    Base
    $0 + $296,264 related
    Bonus
    $0 + $50,000 related
    Other
    $0
    Deferred
    $0 + $12,000 related
    Nontaxable benefits
    $0 + $37,239 related
    Filer's total
    $0 + $395,503 related

  • Michelle A Bemis

    PRESIDENT

    Total calculated
    $379,852
    From this org
    $349,964
    From related orgs
    $0
    Other
    $29,888
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $299,964
    Bonus
    $50,000
    Other
    $0
    Deferred
    $12,000
    Nontaxable benefits
    $17,888
    Filer's total
    $379,852

  • Michael P Antolini

    SR. VICE PRESIDENT

    Total calculated
    $312,945
    From this org
    $281,185
    From related orgs
    $0
    Other
    $31,760
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $260,000
    Bonus
    $21,185
    Other
    $0
    Deferred
    $10,546
    Nontaxable benefits
    $21,214
    Filer's total
    $312,945

  • Daniel F Callahan

    ASSOCIATE VP

    Total calculated
    $254,071
    From this org
    $199,499
    From related orgs
    $0
    Other
    $54,572
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,960
    Bonus
    $48,539
    Other
    $0
    Deferred
    $6,088
    Nontaxable benefits
    $48,484
    Filer's total
    $254,071

  • David S Klewan

    GENERAL MANAGER

    Total calculated
    $262,819
    From this org
    $220,860
    From related orgs
    $0
    Other
    $41,959
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $208,690
    Bonus
    $12,170
    Other
    $0
    Deferred
    $8,518
    Nontaxable benefits
    $33,441
    Filer's total
    $262,819

  • Matthew S Cusick

    DIRECTOR

    Total calculated
    $223,438
    From this org
    $193,081
    From related orgs
    $0
    Other
    $30,357
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $91,705
    Bonus
    $101,376
    Other
    $0
    Deferred
    $3,946
    Nontaxable benefits
    $26,411
    Filer's total
    $223,438

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 $48,539 AND $101,376 AND ARE INCLUDED IN COLUMN (B)(II) IN PART II.
PART I, LINE 3:
COMPENSATION FROM RELATED ORGANIZATIONS THE CEO AND SECRETARY, CYNDI COURT, WAS COMPENSATED THROUGH TIGER WOODS CHARITY EVENT CORPORATION, AND A RELATED 501(C)(3) ORGANIZATION, TIGER WOODS FOUNDATION, INC., WHERE SHE DEVOTED A COMBINED TOTAL OF 50 HOURS PER WEEK. IN CONJUNCTION WITH HER DUTIES AS CEO AND SECRETARY OF THE TIGER WOODS FOUNDATION, SHE 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
2023
Filed
14 August 2025
IRS schema version
2023v6.0
Source object
202532269349302233

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