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Nonprofiteer
← MINNESOTA SECTION PGA FOUNDATION

Form 990 for tax year 2022

Filed by MINNESOTA SECTION PGA FOUNDATION.

Totals

Total revenue
$2,019,852
Total expenses
$1,242,007
Contributions and grants received
$363,507
Grants paid
$241,990
Program service revenue
$837,494
Investment income
$775,221
Other revenue
$43,630
Total assets, end of year
$1,798,493
Total liabilities, end of year
$577,991
Net assets or fund balances, end of year
$1,220,502
Program services expenses (Part IX)
$1,108,610
Management and general expenses
$118,443
Fundraising expenses
$14,954
Program service expenses (Part III)
$1,108,610

Program services were 89.3% 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

    $12,215

  • 1f · All other contributions, gifts and grants

    $351,292

  • 2a · Program service revenue: TOURNAMENT REVENUE

    total $718,593 · related or exempt $718,593

  • 2b · Program service revenue: REIMBURSED EXPENSES

    total $108,608 · related or exempt $108,608

  • 2c · Program service revenue: SPONSORSHIP REVENUE

    total $8,500 · excluded $8,500

  • 2d · Program service revenue: EDUCATION AND MEETING INCOME

    total $1,793 · related or exempt $1,793

  • 3 · Investment income

    total $34,218 · excluded $34,218

  • 7a · Gross sales of assets other than inventory

    securities $2,207,908

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

    securities $1,466,905

  • 7c · Gain or loss

    securities $741,003

  • 7d · Net gain or loss

    total $741,003 · excluded $741,003

  • 8a · Fundraising events: gross income

    $79,475

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

    $12,215

  • 8b · Fundraising events: direct expenses

    $35,845

  • 8c · Net income from fundraising events

    total $43,630 · excluded $43,630

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $154,654 · program services $154,654

  • 2 · Grants to domestic individuals

    total $87,336 · program services $87,336

  • 11a · Fees: management

    total $180,000 · program services $108,000 · management and general $72,000

  • 11c · Fees: accounting

    total $14,490 · program services $10,739 · management and general $3,751

  • 11d · Fees: lobbying

    total $26,000 · program services $19,270 · management and general $6,730

  • 11f · Fees: investment management

    total $12,479 · program services $9,249 · management and general $3,230

  • 11g · Fees: other

    total $53,157 · program services $39,396 · management and general $13,761

  • 13 · Office expenses

    total $19,315 · program services $9,505 · management and general $9,215 · fundraising $595

  • 17 · Travel

    total $38,960 · program services $24,701 · management and general $9,756 · fundraising $4,503

  • 24a · Other expenses: TOURNAMENT OPERATIONS

    total $527,881 · program services $522,007 · fundraising $5,874

  • 24b · Other expenses: PROCESSING FEES

    total $61,931 · program services $61,931

  • 24c · Other expenses: TOURNAMENT PRIZES

    total $50,411 · program services $49,335 · fundraising $1,076

  • 24d · Other expenses: FOOD AND BEVERAGE

    total $15,367 · program services $12,461 · fundraising $2,906

  • 24e · All other expenses

    total $26 · program services $26

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $229,886 · end of year $164,279

  • 2 · Savings and temporary cash investments

    beginning of year $210,241 · end of year $18,437

  • 7 · Other notes and loans receivable

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    end of year $2,700

  • 11 · Investments: publicly traded securities

    beginning of year $1,664,432 · end of year $1,613,077

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,146 · end of year $459

  • 25 · Other liabilities

    beginning of year $654,856 · end of year $577,532

  • 27 · Net assets without donor restrictions

    beginning of year $1,357,286 · end of year $1,173,586

  • 28 · Net assets with donor restrictions

    beginning of year $91,271 · end of year $46,916

Mission and programs · 2022

Mission

TO SUPPORT JUNIOR GOLFERS AND PROVIDE FINANCIAL ASSISTANCE FOR WORTHY RECIPIENTS TO ATTEND COLLEGE. THE MINNESOTA FOUNDATION UPHOLDS THE CORE VALUES: INTEGRITY, HONESTY, RESPECT, SELF-ASSURANCE, COURTESY, AND PERSEVERANCE. THE MINNESOTA FOUNDATION AWARDS JUNIORS 18 OR YOUNGER THAT HONOR THESE VALUES.

  • THE MINNESOTA FOUNDATION SUPPORTED JR GOLF THROUGH THE OPERATION OF SEVERAL JR TOUR GOLF EVENTS.

    Expenses $1,108,610 · Grants $241,989 · Revenue $828,994

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Phil Anderson

    PRESIDENT

    Total calculated
    $0
    Hours/week
    4 + 4 related

  • Scott McDonald

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    4 + 4 related

  • Kellie Hoiness

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • Jack Wawro

    NORTHERN MN DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Greg Snow

    SOUTHERN MN DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Chris Nathlich

    METRO DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Tom Blank

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Grant Hanson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Javon Meyerhoff

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Andrew Gerber

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Jeffrey Drimel

    CEO

    Total calculated
    $171,500
    From this org
    $0
    From related orgs
    $148,034
    Other
    $23,466
    Hours/week
    40 + 10 related

    Schedule J breakdown matched by us

    Base
    $0 + $148,034 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,515 related
    Nontaxable benefits
    $0 + $15,951 related
    Filer's total
    $0 + $171,500 related

  • Jon Tollette

    COO

    Total calculated
    $159,550
    From this org
    $0
    From related orgs
    $125,179
    Other
    $34,371
    Hours/week
    20 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $125,179 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $5,903 related
    Nontaxable benefits
    $0 + $28,468 related
    Filer's total
    $0 + $159,550 related

  • Ryan Hanford

    HONORARY PRESIDENT

    Total calculated
    $0
    Hours/week
    4 + 4 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

  • 2 · Substantiation required before reimbursing expenses
  • 3 · Written employment contract
  • 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
  • 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

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.

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.

  • MINNESOTA PGA INCORPORATED

    C · INACTIVE · MN · 100% owned · share of assets $1,016

Provenance

Return type
form_990
Tax year
2022
Filed
6 October 2023
IRS schema version
2022v5.0
Source object
202322799349301007

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