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Nonprofiteer
← PGA FINANCIAL ASSISTANCE FUND INC

Form 990 for tax year 2023

Filed by PGA FINANCIAL ASSISTANCE FUND INC.

Totals

Total revenue
$721,822
Total expenses
$429,561
Contributions and grants received
$253,320
Grants paid
$400,000
Program service revenue
$0
Investment income
$468,502
Other revenue
$0
Total assets, end of year
$9,234,008
Total liabilities, end of year
$978,348
Net assets or fund balances, end of year
$8,255,660
Program services expenses (Part IX)
$417,500
Management and general expenses
$12,061
Fundraising expenses
$0
Program service expenses (Part III)
$417,500

Program services were 97.2% 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.

  • 1f · All other contributions, gifts and grants

    $253,320

  • 3 · Investment income

    total $239,228 · excluded $239,228

  • 7a · Gross sales of assets other than inventory

    other assets $229,274

  • 7c · Gain or loss

    other assets $229,274

  • 7d · Net gain or loss

    total $229,274 · excluded $229,274

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $400,000 · program services $400,000

  • 11a · Fees: management

    total $12,000 · management and general $12,000

  • 11g · Fees: other

    total $17,500 · program services $17,500

  • 24a · Other expenses: OTHER

    total $61 · management and general $61

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $550 · end of year $550

  • 11 · Investments: publicly traded securities

    beginning of year $7,946,640 · end of year $9,233,458

  • 17 · Accounts payable and accrued expenses

    end of year $1,115

  • 25 · Other liabilities

    beginning of year $802,106 · end of year $977,233

  • 27 · Net assets without donor restrictions

    beginning of year $7,145,084 · end of year $8,255,660

Mission and programs · 2023

Mission

THE ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO ENCOURAGE & PROMOTE THE ATTAINMENT OF HIGHER EDUCATIONAL GOALS BY AWARDING SCHOLARSHIPS BASED ON A HIGH LEVEL OF ACADEMIC ACHIEVEMENT. IN ADDITION, THE ORGANIZATION'S PURPOSE IS TO PROVIDE TEMPORARY FINANCIAL AID TO THOSE IN DIRE FINANCIAL NEED USUALLY AS A RESULT OF AN ACCIDENT OR SUDDEN ILLNESS.

  • SCHOLARSHIP PROGRAMS - AS DETAILED ON SCHEDULE I, NUMEROUS INDIVIDUALS WERE GRANTED SCHOLARSHIPS TO ATTEND VARIOUS COLLEGES AND UNIVERSITIES AS A RESULT OF THEIR HIGH ACADEMIC ACHIEVEMENTS.

    Expenses $417,500 · Grants $400,000

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

Listed in Part VII

  • Seth Waugh

    CEO

    Total calculated
    $3,860,522
    From this org
    $0
    From related orgs
    $3,806,270
    Other
    $54,252
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $2,285,616 related
    Bonus
    not reported + $1,467,000 related
    Other
    not reported + $53,654 related
    Deferred
    not reported + $16,500 related
    Nontaxable benefits
    not reported + $37,752 related
    Filer's total
    not reported + $3,860,522 related

  • John Easterbrook

    CMO

    Total calculated
    $1,117,159
    From this org
    $0
    From related orgs
    $1,049,707
    Other
    $67,452
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $688,693 related
    Bonus
    not reported + $224,750 related
    Other
    not reported + $136,264 related
    Deferred
    not reported + $29,700 related
    Nontaxable benefits
    not reported + $37,752 related
    Filer's total
    not reported + $1,117,159 related

  • Henry Smokler

    GENERAL COUN

    Total calculated
    $951,195
    From this org
    $0
    From related orgs
    $880,443
    Other
    $70,752
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $478,847 related
    Bonus
    not reported + $153,224 related
    Other
    not reported + $248,372 related
    Deferred
    not reported + $33,000 related
    Nontaxable benefits
    not reported + $37,752 related
    Filer's total
    not reported + $951,195 related

  • Craig Kessler

    COO

    Total calculated
    $866,822
    From this org
    $0
    From related orgs
    $840,721
    Other
    $26,101
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $821,072 related
    Bonus
    not reported
    Other
    not reported + $19,649 related
    Deferred
    not reported
    Nontaxable benefits
    not reported + $26,101 related
    Filer's total
    not reported + $866,822 related

  • Rhona Aime

    CFO

    Total calculated
    $728,616
    From this org
    $0
    From related orgs
    $674,799
    Other
    $53,817
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $452,946 related
    Bonus
    not reported + $149,350 related
    Other
    not reported + $72,503 related
    Deferred
    not reported + $33,000 related
    Nontaxable benefits
    not reported + $20,817 related
    Filer's total
    not reported + $728,616 related

  • Sandra Cross

    CPO

    Total calculated
    $571,634
    From this org
    $0
    From related orgs
    $534,273
    Other
    $37,361
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $326,362 related
    Bonus
    not reported + $112,665 related
    Other
    not reported + $95,246 related
    Deferred
    not reported + $28,785 related
    Nontaxable benefits
    not reported + $8,576 related
    Filer's total
    not reported + $571,634 related

  • Kevin Scott

    CTO

    Total calculated
    $542,832
    From this org
    $0
    From related orgs
    $509,832
    Other
    $33,000
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $350,404 related
    Bonus
    not reported + $106,802 related
    Other
    not reported + $52,626 related
    Deferred
    not reported + $33,000 related
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $542,832 related

  • Drew Blasbard

    SD

    Total calculated
    $425,319
    From this org
    $0
    From related orgs
    $364,742
    Other
    $60,577
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $280,865 related
    Bonus
    not reported + $62,962 related
    Other
    not reported + $20,915 related
    Deferred
    not reported + $33,000 related
    Nontaxable benefits
    not reported + $27,577 related
    Filer's total
    not reported + $425,319 related

  • Jeffrey Bloom

    FP&B CONTROL

    Total calculated
    $374,307
    From this org
    $0
    From related orgs
    $321,692
    Other
    $52,615
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $245,984 related
    Bonus
    not reported + $52,424 related
    Other
    not reported + $23,284 related
    Deferred
    not reported + $32,548 related
    Nontaxable benefits
    not reported + $20,067 related
    Filer's total
    not reported + $374,307 related

  • Diane Patz

    SENIOR DIREC

    Total calculated
    $364,819
    From this org
    $0
    From related orgs
    $315,397
    Other
    $49,422
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    not reported + $224,434 related
    Bonus
    not reported + $51,881 related
    Other
    not reported + $39,082 related
    Deferred
    not reported + $32,305 related
    Nontaxable benefits
    not reported + $17,117 related
    Filer's total
    not reported + $364,819 related

  • John Connelly

    CFO

    Total calculated
    $80,302
    From this org
    $0
    From related orgs
    $80,298
    Other
    $4
    Hours/week
    1 + 40 related

  • John Lindert

    PRESIDENT

    Total calculated
    $106,355
    From this org
    $0
    From related orgs
    $106,355
    Other
    $0
    Hours/week
    1 + 9 related

  • Don Rea

    VICE PRESIDE

    Total calculated
    $97,814
    From this org
    $0
    From related orgs
    $97,814
    Other
    $0
    Hours/week
    1 + 9 related

  • Nathan Charnes

    SECRETARY

    Total calculated
    $81,298
    From this org
    $0
    From related orgs
    $81,298
    Other
    $0
    Hours/week
    1 + 9 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 · First-class or charter travel
  • 1a · Travel for companions
  • 1a · Tax indemnification and gross-up payments
  • 1a · Health or social club dues or initiation fees
  • 1a · Personal services (maid, chauffeur, chef)
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 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)

SCHEDULE J, PAGE 1, PART I, LINE 1A
IN CERTAIN CASES EMPLOYEES, OFFICERS, BOARD MEMBERS, AND/OR THEIR COMPANIONS ARE PROVIDED THE FOLLOWING ITEMS. - CERTAIN EMPLOYEES, OFFICERS, BOARD MEMBERS, AND/OR THEIR COMPANIONS MAY UTILIZE FIRST CLASS OR CHARTER TRAVEL FOR BUSINESS PURPOSES BASED ON SECURITY, PRIVACY, AND TIMING CONCERNS. - CERTAIN EMPLOYEESAND OFFICERS ARE PROVIDED HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES. - CERTAIN EMPLOYEES AND OFFICERS ARE PROVIDED PERSONAL SERVICES. - CERTAIN EMPLOYEES, OFFICERS, AND BOARD MEMBERS ARE PROVIDED TAX GROSS-UP PAYMENTS. ALL ITEMS THAT RESULT IN REPORTABLE COMPENSATION ARE PROPERLY REPORTED TO THE INDIVIDUAL RECIPIENT EITHER WITHIN THEIR W-2 OR 1099-MISC REPORTING EACH YEAR.
SCHEDULE J, PAGE 1, PART I, LINE 3
THE CEO IS PAID BY A RELATED ORGANIZATION. THE CEO'S COMPENSATION IS ESTABLISHED BY THE RELATED ORGANIZATION THROUGH THE USE OF THE FOLLOWING METHODS: A COMPENSATION COMMITTEE; AN INDEPENDENT COMPENSATION CONSULTANT; AND, A COMPENSATION SURVEY OR STUDY. THE COMPENSATION IS DOCUMENTED IN A WRITTEN EMPLOYMENT CONTRACT AND APPROVED BY THE BOARD OR COMPENSATION COMMITTEE.

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.

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • PGA SIF LP

    INVESTMENT · DE

Related corporations and trusts

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

  • NEXTGENGOLF INC

    GOLF RLTD. · FL

  • PGA CORPORATION

    GOLF RLTD. · FL

  • PGA GOLF DEVELOPMENT INC

    GOLF RLTD. · FL

  • PGA GOLF ENTERPRISES INC

    GOLF RLTD. · FL

  • PGA GOLF PROPERTIES INC

    GOLF RLTD. · FL

  • PGA GOLF PARTNERS INC

    GOLF RLTD. · FL

  • PGA MANAGEMENT SERVICES INC

    GOLF RLTD. · FL

  • PGA RESERVE INC

    GOLF RLTD. · FL

  • PGA TOURNAMENT CORPORATION INC

    GOLF RLTD. · FL

  • PGA VALHALLA INC

    GOLF RLTD. · FL

Provenance

Return type
form_990
Tax year
2023
Filed
15 February 2025
IRS schema version
2023v6.0
Source object
202530449349301703

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