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Nonprofiteer
← WORLD GOLF FOUNDATION INC

Form 990 for tax year 2024

Filed by WORLD GOLF FOUNDATION INC.

Totals

Total revenue
-$3,259,947
Total expenses
$6,788,017
Contributions and grants received
$3,022,541
Grants paid
$700,000
Program service revenue
$90,180
Investment income
-$7,621,152
Other revenue
$1,248,484
Total assets, end of year
$9,141,095
Total liabilities, end of year
$1,311,535
Net assets or fund balances, end of year
$7,829,560
Program services expenses (Part IX)
$5,602,701
Management and general expenses
$961,341
Fundraising expenses
$223,975
Program service expenses (Part III)
$5,602,701

Program services were 82.5% 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

    $89,130

  • 1f · All other contributions, gifts and grants

    $2,933,411

  • 2a · Program service revenue: IMAX THEATER

    total $90,180 · related or exempt $23,288 · unrelated business $66,892

  • 3 · Investment income

    total $448,565 · excluded $448,565

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $55,908 · excluded $55,908

  • 6a · Gross rents

    real property $84,184

  • 6b · Less rental expenses

    real property $35,939

  • 6c · Rental income or loss

    real property $48,245 · personal property $0

  • 6d · Net rental income or loss

    total $48,245 · excluded $48,245

  • 7a · Gross sales of assets other than inventory

    securities $2,500,076 · other assets $0

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

    securities $2,240,658 · other assets $8,329,135

  • 7c · Gain or loss

    securities $259,418 · other assets -$8,329,135

  • 7d · Net gain or loss

    total -$8,069,717 · excluded -$8,069,717

  • 8a · Fundraising events: gross income

    $73,370

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

    $89,130

  • 8b · Fundraising events: direct expenses

    $122,316

  • 8c · Net income from fundraising events

    total -$48,946 · excluded -$48,946

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $1,209,046

  • 10b · Cost of goods sold

    $18,270

  • 10c · Net income from sales of inventory

    total $1,190,776 · excluded $1,190,776

  • 11a · Other revenue: MISCELLANEOUS

    total $2,501 · excluded $2,501

  • 11e · Other revenue, total

    $2,501

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $700,000 · program services $700,000

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $464,273 · program services $417,846 · management and general $46,427

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $994,610 · program services $588,546 · management and general $249,817 · fundraising $156,247

  • 8 · Pension plan contributions

    total $23,715 · program services $20,592 · management and general $630 · fundraising $2,493

  • 9 · Other employee benefits

    total $133,799 · program services $125,078 · management and general $3,239 · fundraising $5,482

  • 10 · Payroll taxes

    total $90,775 · program services $81,576 · management and general $2,830 · fundraising $6,369

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $57,534 · management and general $57,534

  • 11c · Fees: accounting

    total $80,777 · management and general $80,777

  • 11d · Fees: lobbying

    total $180,000 · program services $180,000

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $333,556 · program services $318,606 · management and general $1,282 · fundraising $13,668

  • 12 · Advertising and promotion

    total $123,722 · program services $123,722

  • 13 · Office expenses

    total $476,319 · program services $474,373 · management and general $1,789 · fundraising $157

  • 14 · Information technology

    total $234,586 · program services $221,364 · management and general $10,505 · fundraising $2,717

  • 15 · Royalties

    total $115,885 · program services $115,885

  • 16 · Occupancy

    total $894,029 · program services $490,102 · management and general $403,927

  • 17 · Travel

    total $41,336 · program services $28,782 · management and general $923 · fundraising $11,631

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $3,398 · program services $1,699 · fundraising $1,699

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $319,150 · program services $255,320 · management and general $63,830

  • 23 · Insurance

    total $39,277 · program services $9,819 · management and general $19,639 · fundraising $9,819

  • 24a · Other expenses: HOF INDUCTION CEREMONIES

    total $1,414,853 · program services $1,414,853 · management and general $0 · fundraising $0

  • 24b · Other expenses: BANK CHARGES & FEES

    total $37,177 · program services $11,293 · management and general $17,031 · fundraising $8,853

  • 24c · Other expenses: PROFESSIONAL DUES

    total $13,353 · program services $9,245 · management and general $319 · fundraising $3,789

  • 24d · Other expenses: RESEARCH & DEVELOPMENT

    total $7,500 · program services $7,500 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $8,393 · program services $6,500 · management and general $842 · fundraising $1,051

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,730,957 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $1,116 · end of year $2,192,863

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $96,778 · end of year $27,816

  • 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 $2,571 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $120,726 · end of year $71,230

  • 10a · Land, buildings and equipment: cost or other basis

    $12,156,152

  • 10b · Land, buildings and equipment: accumulated depreciation

    $11,722,262

  • 10c · Land, buildings and equipment, net

    beginning of year $9,082,174 · end of year $433,890

  • 11 · Investments: publicly traded securities

    beginning of year $6,817,114 · end of year $6,415,296

  • 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 $25,208 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,113,835 · end of year $1,009,358

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $51,172 · end of year $0

  • 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

  • 25 · Other liabilities

    beginning of year $28,793 · end of year $302,177

  • 27 · Net assets without donor restrictions

    beginning of year $14,718,125 · end of year $5,462,039

  • 28 · Net assets with donor restrictions

    beginning of year $2,964,719 · end of year $2,367,521

Mission and programs · 2024

Mission

TO UNITE THE GOLF INDUSTRY AROUND INITIATIVES THAT PROMOTE, ENHANCE THE GROWTH OF AND PROVIDE ACCESS TO THE GAME WORLDWIDE, WHILE PRESERVING GOLF'S TRADITIONAL VALUES AND PASSING THEM ON TO OTHERS. IT ACCOMPLISHES ITS MISSION THROUGH: 1. AMERICAN GOLF INDUSTRY COALITION UNITES AND ACTIVATES THE GOLF INDUSTRY AROUND KEY STRATEGIC INITIATIVES THAT INCREASE PARTICIPATION AND RETENTION OF PARTICIPANTS, INSPIRE INVOLVEMENT AND INTEREST IN THE GAME, AND PROMOTE SUSTAINABLE BEST PRACTICES FOR GOLF FACILITIES. FURTHER, THE COALITION RENDERS SUPPORT AND ASSISTANCE BY MEANS OF CONTRIBUTIONS AND GRANTS TO EXEMPT ORGANIZATIONS ESTABLISHED TO DIVERSIFY THE SPORT OF GOLF AND SUPPORT ENVIRONMENTAL AND SUSTAINABILITY INITIATIVES. 2. WORLD GOLF HALL OF FAME CELEBRATES GOLF AND PRESERVES THE LEGACIES OF THOSE WHO HAVE MADE IT GREAT.

Activities or mission (Part I)

To unite the golf industry around initiatives that promote, enhance the growth of, and provide access to the game worldwide. (See attachment 1 for Full Mission Statement).

  • World Golf Foundation, Inc. (the "Foundation"), which is supported by major international golf organizations and professional tours, oversaw the World Golf Hall of Fame & MUSEUM (4a) and continues to oversee the American Golf Industry Coalition (4b) and other nonprofit components. The Foundation works to promote growth of the game of golf among adults, youth, and minorities as well as in the golf industry. The World Golf Hall of Fame & MUSEUM provided visitors an opportunity to learn about the rich history, values, and deeply rooted traditions of the game through interactive exhibits, unique storytelling and a compelling guest experience. It also conducted a biennial induction ceremony to enshrine the game's greatest players and contributors. Enshrinement can include both male and female professional players, accomplished amateurs, and individuals who have made substantial contributions to the game outside of the competitive arena. The Hall of Fame & Museum closed its physical presence in St. Augustine, Florida, to the public as of September 2023. The Foundation deaccessioned Hall of Fame artifacts following the closure of the Hall of Fame & Museum. A portion of the deaccessioned artifacts were transferred to the USGA Foundation in 2024 to promote continued public access.

    Expenses $3,697,783 · Revenue $23,288

  • The American Golf Industry Coalition's mission is to unite and activate the golf industry around key strategic initiatives that increase participation and retention of participants, inspire involvement and interest in the game, and promote the sustainable best practices for golf facilities. One of American Golf Industry Coalition's major initiatives has been a comprehensive analysis of golf's significant contributions to the U.S. economy. American Golf Industry Coalition, working in conjunction with research partners, has provided detailed snapshots of golf's role in underpinning a healthy economy at both the state and national levels. The most recent report, the 2022 Golf Economy Report, measured golf's direct economic contributions in the U.S. at $101.7 billion, and found that the industry has impacted 1.65 million jobs with total wage income of $80.1 billion. Efforts are also ongoing to quantify golf's impact at the state level. American Golf Industry Coalition also serves to unite and strengthen inclusion practices across golf participation, workforce and procurement. Under the brand 'Make Golf Your Thing,' programs include grants to grassroot organizations, activations at historically black colleges and universities, and marketing to build awareness for industry jobs, all of which ensure the future of golf is open to everyone. This multi-faceted, multi-year campaign will work to invite more people to the sport from all backgrounds to enjoy the game of a lifetime - their way.

    Expenses $1,904,918 · Grants $700,000

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Gregory T McLaughlin

    PRESIDENT/CEO

    Total calculated
    $398,202
    From this org
    $398,202
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

    Schedule J breakdown matched by us

    Base
    $113,641
    Bonus
    $275,937
    Other
    $8,624
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $398,202

  • Herb Cain

    FACILITIES DIR (THRU 06/30)

    Total calculated
    $198,099
    From this org
    $190,801
    From related orgs
    $0
    Other
    $7,298
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $50,684
    Bonus
    $24,548
    Other
    $115,569
    Deferred
    $0
    Nontaxable benefits
    $7,298
    Filer's total
    $198,099

  • Andrew Yeast

    SR. DIR., INDUSTRY ENGAGEMENT

    Total calculated
    $135,479
    From this org
    $121,580
    From related orgs
    $0
    Other
    $13,899
    Hours/week
    40

  • Jess Munroe

    SR. DIR., GUEST SERVICES OPS

    Total calculated
    $132,252
    From this org
    $118,488
    From related orgs
    $0
    Other
    $13,764
    Hours/week
    40

  • Diane Tetsworth

    SECRETARY

    Total calculated
    $66,071
    From this org
    $61,835
    From related orgs
    $0
    Other
    $4,236
    Hours/week
    10

  • Jay Monahan

    DIRECTOR/CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Michael Whan

    DIRECTOR/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Seth Waugh

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mollie Marcoux Samaan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Martin Slumbers

    DIRECTOR (THRU 09/25)

    Total calculated
    $0
    Hours/week
    1

  • E William Jones Jr

    DIRECTOR (THRU 09/25)

    Total calculated
    $0
    Hours/week
    1

  • Rhett Evans

    DIRECTOR (THRU 09/25)

    Total calculated
    $0
    Hours/week
    1

  • Keith Pelley

    DIRECTOR (THRU 04/10)

    Total calculated
    $0
    Hours/week
    1

  • Guy Kinnings

    DIRECTOR (04/10 THRU 09/25)

    Total calculated
    $0
    Hours/week
    1

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 · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 7 · Other non-fixed payments

Answered no

  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
HEALTH OR SOCIAL CLUB DUES WERE PAID FOR GREG MCLAUGHLIN FOR BUSINESS AND/OR PERSONAL USE DURING 2024. TO THE EXTENT THAT THE INDIVIDUAL'S USE OF THE CLUB WAS FOR PERSONAL PURPOSES, THE APPROPRIATE VALUE IS CALCULATED AND REPORTED AS TAXABLE TO THE RECIPIENT ON FORM W-2 IN ACCORDANCE WITH APPLICABLE TAX RULES.
PART I, LINE 4A
WORLD GOLF FOUNDATION, INC. MADE A SEVERANCE PAYMENT OF $102,766 TO HERB CAIN IN CALENDAR YEAR 2024. THE PAYMENT IS INCLUDED IN HIS REPORTABLE COMPENSATION ON PART VII AND SCHEDULE J OF FORM 990.
PART I, LINE 7
THE ORGANIZATION HAS A LONG-TERM INCENTIVE PLAN THAT IS BASED ON GROWING PROGRAM SERVICES AND EXPANDING THE DONOR BASE. THE ORGANIZATION AWARDED A DISCRETIONARY BONUS TO GREG MCLAUGHLIN REPORTED ON ITS FORM 990 BASED ON HIM HAVING MET SPECIFIC OBJECTIVE PERFORMANCE-BASED CRITERIA. BONUSES ARE AUTHORIZED AND APPROVED BY THE ORGANIZATION'S COMPENSATION COMMITTEE WITHOUT ANY DECISION-MAKING INPUT BY THE RECIPIENT OF THE BONUS.

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

The 10 largest by cash amount. The API serves every itemized grant.

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

3 distributions to recipients named as people, $8,313,953 in total. Counted where the filer named the recipient as a person, as filed. Who received them, and what, are not published.

Provenance

Return type
form_990
Tax year
2024
Filed
3 November 2025
IRS schema version
2024v5.2
Source object
202533109349304133

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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