Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $7,760,251

• 1g · Noncash contributions included above

  $1,264,497

• 3 · Investment income

  total $85,890 · excluded $85,890

• 7a · Gross sales of assets other than inventory

  securities $22,790,631

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

  securities $23,030,955 · other assets $198,446

• 7c · Gain or loss

  securities -$240,324 · other assets -$198,446

• 7d · Net gain or loss

  total -$438,770 · excluded -$438,770

• 10b · Cost of goods sold

  $10,135

• 10c · Net income from sales of inventory

  total -$10,135 · excluded -$10,135

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $692,449 · program services $692,449

• 8 · Pension plan contributions

  total $40,775 · program services $40,775

• 10 · Payroll taxes

  total $100,926 · program services $100,926

• 11f · Fees: investment management

  total $5,129 · management and general $5,129

• 11g · Fees: other

  total $157,773 · program services $157,773

• 12 · Advertising and promotion

  total $6,075 · program services $6,075

• 13 · Office expenses

  total $180,725 · program services $180,725

• 14 · Information technology

  total $8,689 · program services $8,689

• 17 · Travel

  total $204,810 · program services $204,810

• 24a · Other expenses: ALLOCATED SUPPORT EXPEN

  total $1,367,292 · program services $1,367,292

• 24b · Other expenses: BAD DEBT

  total $110,000 · program services $110,000

• 24c · Other expenses: MISC. DONOR GIFT

  total $26,369 · program services $26,369

• 24d · Other expenses: BANK CHARGES

  total $17,838 · management and general $17,838

• 24e · All other expenses

  total $27,357 · program services $27,357

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $858,317 · end of year $382,675

• 4 · Accounts receivable

  beginning of year $2,438,646 · end of year $4,635,769

• 11 · Investments: publicly traded securities

  beginning of year $4,686,932 · end of year $12,957,128

• 15 · Other assets

  beginning of year $6,477,524 · end of year $11,518,180

• 17 · Accounts payable and accrued expenses

  beginning of year $0 · end of year $1,680

• 25 · Other liabilities

  beginning of year $10,686,283 · end of year $19,849,753

• 27 · Net assets without donor restrictions

  beginning of year $3,775,136 · end of year $9,642,319

The filer's explanations (Part III)

PART I, LINE 3:

THE USGA FOUNDATION RELIED ON THE UNITED STATES GOLF ASSOCIATION, A RELATED ORGANIZATION THAT USED ONE OR MORE OF THE METHODS LISTED ON LINE 3 TO ESTABLISH THE TOP MANAGEMENT OFFICER'S COMPENSATION. PLEASE REFER TO SCHEDULE O NARRATIVE REGARDING PART VI LINE 15 - COMPENSATION REVIEW PROCEDURE FOR DETAILS. THE 457(F) NONQUALIFIED DEFINED CONTRIBUTION PLAN FOR THE UNITED STATES ESTABLISH THE TOP MANAGEMENT OFFICER'S COMPENSATION. PLEASE REFER TO PROCEDURE FOR DETAILS.

SCHEDULE J, PART I, LINE 4B:

THE 457(F) NONQUALIFIED DEFINED CONTRIBUTION PLAN FOR THE UNITED STATES GOLF ASSOCIATION (THE "457(F) DC PLAN") IS A TAX FAVORED, NON-QUALIFIED SUPPLEMENTAL RETIREMENT PROGRAM OFFERED TO HIGHLY COMPENSATED SENIOR MANAGEMENT. THIS PLAN ADDRESSES THE POTENTIAL SHORTFALL FOR SENIOR MANAGEMENT THAT MAY RESULT FROM THE INTERNAL REVENUE SERVICE LIMITS ASSOCIATED WITH QUALIFIED RETIREMENT PLANS. THOSE LIMITS INCLUDE COMPENSATION CAPS FOR THE USGA PENSION PLAN AND USGA DEFINED CONTRIBUTION RETIREMENT PLAN. PURSUANT TO REGULATIONS CONTAINED IN THE IRS CODE GOVERNING NOT-FOR-PROFIT EXECUTIVE COMPENSATION PLANS, ACCRUED BENEFITS BECOME TAXABLE TO THE EMPLOYEE AT VESTING. THE VESTING PERIOD IS FIVE YEARS. ONCE VESTED, THE ANNUAL ACCRUED BENEFIT IS RECORDED AS INCOME, EVEN THOUGH THE INDIVIDUAL DID NOT RECEIVE THE BENEFIT. THESE AMOUNTS ARE INCLUDED IN OTHER REPORTABLE COMPENSATION FOR VESTED PARTICIPANTS. THE BENEFIT IS PAYABLE UPON TERMINATION FROM THE USGA. THE ACCRUED, NON-VESTED BENEFITS ARE REPORTED AS DEFERRED COMPENSATION ON SCHEDULE J COLUMN (C). THE FOLLOWING PEOPLE RECEIVED CONTRIBUTIONS TO THE USGA 457(F) PLAN IN 2023: (ALL NAMED PERSONS ON SCHEDULE J, PART II). SECTION 457(F) DEFERRED COMPENSATION PLAN, VESTED PORTION WHICH IS REPORTED ON SCHEDULE J PART II COLUMN B(III): - SUSAN PIKITCH $27,865 - CHRISTOPHER FRASER $24,057 SECTION 457(F) DEFERRED COMPENSATION PLAN, NON-VESTED PORTION WHICH IS REPORTED ON SCHEDULE J PART II COLUMN C: - MIKE WHAN $108,123 - SUSAN PIKITCH $27,865 - CHRISTOPHER FRASER $24,057 - CHARLIE PAGNAM $22,182

SCHEDULE J, PART I, LINES 5 & 6:

CEO AND SENIOR LEADERSHIP TEAM PARTICIPATE IN AN INCENTIVE COMPENSATION PLAN WITH METRICS MEASURED AGAINST STRATEGIC ORGANIZATIONAL OBJECTIVES AND FINANCIAL RESULTS WHICH INCLUDE REVENUE AND OTHER METRICS AS APPROVED BY THE EXECUTIVE COMMITTEE. INCENTIVE COMPENSATION REQUIRES INPUT FROM COMPENSATION COMMITTEE, A STANDING COMMITTEE OF THE ORGANIZATIONS EXECUTIVE COMMITTEE, AND APPROVAL BY THE USGA BOARD PRESIDENT. INCENTIVE PLAN MAY NOT EXCEED BUDGET. TOTAL COMPENSATION (BASE SALARY AND INCENTIVE COMPENSATION PLAN) FOR THE CEO AND SENIOR LEADERSHIP TEAM IS EXTERNALLY BENCHMARKED ON A REGULAR BASIS. THE BENCHMARKING PROCESS IS CONDUCTED BY A THIRD PARTY AND REVIEWED BY THE USGA BOARD PRESIDENT. PART II - COMPENSATION OF CHARLIE PAGNAM CHARLIE PAGNAM REPORTED IN THE USGA FOUNDATION FORM 990 IS PAID BY THE UNITED STATES GOLF ASSOCIATION, THE SUPPORTED ORGANIZATION OF THE USGA FOUNDATION. ON PART VII AND SCHEDULE J, ALL COMPENSATION OF CHARLIE PAGNAM IS BEING REPORTED AS HAVING BEEN PAID BY THE USGA FOUNDATION. FURTHERMORE, THE INDIVIDUAL'S COMPENSATION IS REIMBURSED BY THE USGA FOUNDATION, BASED ON SERVICES RENDERED TO THAT ORGANIZATION IN THE INTEREST OF CLARITY. THE USGA FOUNDATION IS DISCLOSING THE SALARY AND BENEFIT AMOUNTS AS HAVING BEEN REIMBURSED BY THE USGA FOUNDATION TO THE UNITED STATES GOLF ASSOCIATION. PART III: OTHER REPORTABLE COMPENSATION: AMOUNTS INCLUDED IN OTHER REPORTABLE COMPENSATION INCLUDE AMOUNTS ATTRIBUTABLE TO LIFE, LONG TERM DISABILITY & LONG-TERM CARE INSURANCES, CHILD SCHOLARSHIPS, PERSONAL MILEAGE AND AUTOMOBILE EXPENSES, AS WELL AS NON-CASH VESTED BENEFITS IN THE USGA 457(F) NON-QUALIFIED SUPPLEMENTAL RETIREMENT PLAN.