Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $419,364

• 1f · All other contributions, gifts and grants

  $2,124,470

• 1g · Noncash contributions included above

  $88,750

• 2a · Program service revenue: PROGRAM SERVICES

  total $46,680,085 · related or exempt $46,680,085

• 3 · Investment income

  total $258,988 · excluded $258,988

• 7a · Gross sales of assets other than inventory

  securities $67,003

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

  securities $69,418

• 7c · Gain or loss

  securities -$2,415

• 7d · Net gain or loss

  total -$2,415 · excluded -$2,415

• 8a · Fundraising events: gross income

  $88,750

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

  $419,364

• 8b · Fundraising events: direct expenses

  $127,177

• 8c · Net income from fundraising events

  total -$38,427 · excluded -$38,427

• 9a · Gaming: gross income

  $154,000

• 9b · Gaming: direct expenses

  $40,139

• 9c · Net income from gaming

  total $113,861 · excluded $113,861

• 11a · Other revenue: REFUNDS AND REBATES

  total $81,538 · excluded $81,538

• 11b · Other revenue: INSURANCE RECOVERY

  total $44,062 · excluded $44,062

• 11c · Other revenue: MISC INCOME

  total $2,748 · excluded $2,748

• 11e · Other revenue, total

  $128,348

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $2,253,839 · program services $2,253,839

• 5 · Compensation of officers, directors and key employees

  total $501,214 · program services $383,741 · management and general $31,656 · fundraising $85,817

• 7 · Other salaries and wages

  total $2,461,882 · program services $1,898,512 · management and general $210,654 · fundraising $352,716

• 8 · Pension plan contributions

  total $98,885 · program services $76,171 · management and general $8,089 · fundraising $14,625

• 9 · Other employee benefits

  total $414,795 · program services $319,516 · management and general $33,931 · fundraising $61,348

• 10 · Payroll taxes

  total $199,564 · program services $153,724 · management and general $16,324 · fundraising $29,516

• 11b · Fees: legal

  total $7,284 · program services $6,818 · management and general $466

• 11c · Fees: accounting

  total $90,322 · management and general $90,322

• 11g · Fees: other

  total $782,868 · program services $759,367 · management and general $8,369 · fundraising $15,132

• 12 · Advertising and promotion

  total $12,986,300 · program services $12,986,300

• 13 · Office expenses

  total $450,717 · program services $389,046 · management and general $60,094 · fundraising $1,577

• 14 · Information technology

  total $1,028 · program services $1,028

• 16 · Occupancy

  total $118,426 · program services $94,146 · management and general $8,647 · fundraising $15,633

• 17 · Travel

  total $325,906 · program services $325,906

• 19 · Conferences, conventions and meetings

  total $93,149 · program services $12,956 · management and general $79,472 · fundraising $721

• 23 · Insurance

  total $197,375 · program services $195,042 · management and general $830 · fundraising $1,503

• 24a · Other expenses: TOURNAMENT COSTS

  total $28,694,856 · program services $28,694,856

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $8,351 · end of year $3,396

• 2 · Savings and temporary cash investments

  beginning of year $16,020,490 · end of year $11,549,838

• 3 · Pledges and grants receivable

  beginning of year $359,870 · end of year $348,257

• 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 $11,068,679 · end of year $12,258,675

• 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 $1,984,592

• 17 · Accounts payable and accrued expenses

  beginning of year $969,071 · end of year $837,614

• 18 · Grants payable

  beginning of year $4,380,000 · end of year $30,000

• 19 · Deferred revenue

  beginning of year $21,114,567 · end of year $24,277,528

• 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 $994,752 · end of year $1,000,616

• 28 · Net assets with donor restrictions

  beginning of year $0 · end of year $0

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, MATTHEW CUSICK, AND JAMES CEFALY. 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 $59,700, $94,775 AND $44,352 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 55 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.