Skip to content
Nonprofiteer
← TENNESSEE GOLF FOUNDATION

Form 990 for tax year 2024

Filed by TENNESSEE GOLF FOUNDATION.

Totals

Total revenue
$8,626,823
Total expenses
$9,803,749
Contributions and grants received
$3,740,066
Grants paid
$271,282
Program service revenue
$4,431,263
Investment income
$52,401
Other revenue
$403,093
Total assets, end of year
$23,924,828
Total liabilities, end of year
$3,934,625
Net assets or fund balances, end of year
$19,990,203
Program services expenses (Part IX)
$5,806,340
Management and general expenses
$3,613,199
Fundraising expenses
$384,210
Program service expenses (Part III)
$5,806,340

Program services were 59.2% 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.

  • 1e · Government grants (contributions)

    $1,808,403

  • 1f · All other contributions, gifts and grants

    $1,931,663

  • 2a · Program service revenue: SIMMONS BANK OPEN

    total $1,387,849 · related or exempt $1,387,849

  • 2b · Program service revenue: JUNIOR GOLF TOUR

    total $1,043,691 · related or exempt $1,043,691

  • 2c · Program service revenue: LITTLE COURSE

    total $1,013,900 · related or exempt $1,013,900

  • 2d · Program service revenue: REGIONAL EVENTS

    total $581,272 · related or exempt $581,272

  • 2e · Program service revenue: FIRST TEE/GOLF MGMT

    total $404,551 · related or exempt $404,551

  • 3 · Investment income

    total $281,427 · unrelated business $13,426 · excluded $268,001

  • 6a · Gross rents

    real property $21,290

  • 6c · Rental income or loss

    real property $21,290

  • 6d · Net rental income or loss

    total $21,290 · excluded $21,290

  • 7a · Gross sales of assets other than inventory

    securities $2,088,140

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

    securities $2,316,463 · other assets $703

  • 7c · Gain or loss

    securities -$228,323 · other assets -$703

  • 7d · Net gain or loss

    total -$229,026 · excluded -$229,026

  • 8a · Fundraising events: gross income

    $789,457

  • 8b · Fundraising events: direct expenses

    $454,285

  • 8c · Net income from fundraising events

    total $335,172 · excluded $335,172

  • 10a · Gross sales of inventory

    $156,520

  • 10b · Cost of goods sold

    $109,889

  • 10c · Net income from sales of inventory

    total $46,631 · related or exempt $46,631

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $247,470 · program services $247,470

  • 2 · Grants to domestic individuals

    total $16,992 · program services $16,992

  • 3 · Grants to foreign organizations and individuals

    total $6,820 · program services $6,820

  • 5 · Compensation of officers, directors and key employees

    total $307,662 · program services $214,866 · management and general $61,859 · fundraising $30,937

  • 7 · Other salaries and wages

    total $2,808,811 · program services $1,961,628 · management and general $564,740 · fundraising $282,443

  • 8 · Pension plan contributions

    total $80,650 · program services $56,325 · management and general $16,215 · fundraising $8,110

  • 9 · Other employee benefits

    total $90,251 · program services $63,030 · management and general $18,146 · fundraising $9,075

  • 10 · Payroll taxes

    total $222,294 · program services $155,247 · management and general $44,694 · fundraising $22,353

  • 11c · Fees: accounting

    total $18,000 · management and general $18,000

  • 11f · Fees: investment management

    total $20,445 · management and general $20,445

  • 11g · Fees: other

    total $304,731 · program services $126,687 · management and general $178,044

  • 12 · Advertising and promotion

    total $253,988 · program services $213,320 · management and general $40,668

  • 13 · Office expenses

    total $299,864 · program services $265,231 · management and general $3,341 · fundraising $31,292

  • 14 · Information technology

    total $17,862 · program services $11,725 · management and general $6,137

  • 16 · Occupancy

    total $149,462 · program services $31,996 · management and general $117,466

  • 17 · Travel

    total $133,727 · program services $93,084 · management and general $40,643

  • 19 · Conferences, conventions and meetings

    total $189,206 · program services $157,271 · management and general $31,935

  • 22 · Depreciation, depletion and amortization

    total $134,975 · program services $4,815 · management and general $130,160

  • 23 · Insurance

    total $76,334 · program services $12,488 · management and general $63,846

  • 24a · Other expenses: GOLF COURSE MAINT & OPER

    total $3,554,153 · program services $1,323,138 · management and general $2,231,015

  • 24b · Other expenses: OTHER EVENT COSTS

    total $805,160 · program services $805,160

  • 24c · Other expenses: MISCELLANEOUS

    total $25,290 · program services $19,901 · management and general $5,389

  • 24d · Other expenses: ASSOCIATION REIMBURSEMENT

    total $20,456 · management and general $20,456

  • 24e · All other expenses

    total $19,146 · program services $19,146

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $754,795 · end of year $452,218

  • 8 · Inventories for sale or use

    beginning of year $11,113 · end of year $11,113

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

    $5,455,222

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

    $3,890,828

  • 10c · Land, buildings and equipment, net

    beginning of year $1,607,817 · end of year $1,564,394

  • 11 · Investments: publicly traded securities

    beginning of year $20,919,234 · end of year $21,897,003

  • 15 · Other assets

    beginning of year $100 · end of year $100

  • 25 · Other liabilities

    beginning of year $3,642,194 · end of year $3,934,625

  • 27 · Net assets without donor restrictions

    beginning of year $15,844,290 · end of year $16,042,671

  • 28 · Net assets with donor restrictions

    beginning of year $3,806,575 · end of year $3,947,532

Mission and programs · 2024

Mission

TO PROMOTE GOLF AND ITS LIFE-ENHANCING VALUES WITH AN EMPHASIS ON TEACHING THE YOUTH, VETERANS AND THE DISADVANTAGED.

  • IN 2021 THE TENNESSEE GOLF FOUNDATION STARTED OPERATING THE SIMMONS BANK OPEN TOURNAMENT. IT IS A KORN FERRY TOUR EVENT. THE KORN FERRY TOUR IDENTIFIES & DEVELOPS PLAYERS READY TO COMPETE & WIN. IT IS "THE PATH TO THE PGA TOUR". THE SIMMONS BANK OPEN WAS A 7 DAY EVENT IN 2024 WITH 563 PARTICIPANTS (PLAYERS, CADDIES, & VOLUNTEERS).

    Expenses $1,789,132 · Grants $100,000 · Revenue $1,387,849

  • VARIOUS PROGRAMS SUCH AS GOLF TOURNAMENTS ARE PERFORMED EACH YEAR TO PROMOTE GOLF IN TN.

    Expenses $1,845,654 · Grants $55,019 · Revenue $627,903

  • THE FIRST TEE PROGRAM STARTED IN 2001 IN NASHVILLE CONTINUES TO GROW. THERE ARE NOW 5 FIRST TEE CHAPTERS AND OVER 1,700 STUDENTS PARTICIPATED AT THE TENNESSEE FIRST TEE PROGRAMS IN NASHVILLE, CHATTANOOGA, MEMPHIS, KNOXVILLE, AND TRI-CITIES. THERE ARE 47 FIRST TEE LOCATIONS IN TN. OVER 1,700 STUDENTS PARTICIPATED AT THE TGF'S FIRST TEE TENNESSEE GOLF AND LIFE SKILLS PROGRAMS ACROSS THE STATE.

    Expenses $886,338 · Grants $85,250 · Revenue $404,551

  • THE JUNIOR TOUR MISSION IS TO FOSTER THE GROWTH AND DEVELOPMENT OF JUNIOR GOLFERS OF VARYING AGES AND ABILITY LEVELS TO BE THE BEST PLAYERS, STUDENTS, AND CITIZENS ON AND OFF THE COURSE. IN 2024 THE JUNIOR TOUR HAD 1,980 MEMBERS. THERE WERE 206 EVENTS IN 100+ DAYS. THE 2024 JUNIOR GOLF ACADEMY WAS ATTENDED BY 256 JUNIOR GOLFERS, WITH 59 GIVEN FULL SCHOLARSHIPS BY THE TGF TOTALING 25,075. THE LITTLE COURSE CONTINUED TO PROVIDE AFFORDABLE, ACCESSIBLE JUNIOR AND FAMILY GOLF WITH OVER 28,000 ROUNDS PLAYED IN 2024. IN ADDITION OVER 2,000 YOUNG GOLFERS PARTICIPATED IN PROGRAMS TAUGHT AT THE LITTLE COURSE.

    Expenses $1,285,216 · Grants $31,013 · Revenue $2,057,591

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

Listed in Part VII

  • WHIT TURNBOW

    PRESIDENT

    Total calculated
    $307,662
    From this org
    $287,231
    From related orgs
    $0
    Other
    $20,431
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $213,980
    Bonus
    $73,251
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $20,431
    Filer's total
    $307,662

  • RICHARD HORTON

    ADVISOR TO C

    Total calculated
    $236,147
    From this org
    $224,191
    From related orgs
    $0
    Other
    $11,956
    Hours/week
    10

    Schedule J breakdown matched by us

    Base
    $224,191
    Bonus
    not reported
    Other
    not reported
    Deferred
    $11,209
    Nontaxable benefits
    $747
    Filer's total
    $236,147

  • JIM SEABURY

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • JOHNNY BRIDGEMAN

    SECRETARY/TR

    Total calculated
    $0
    Hours/week
    2

  • JULIE FRIST

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JOEY HICKMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • MIKE JENKINS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • BRAD MARTIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JAMISON MONROE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • PAUL REID

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • LOREN ROBERTS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • STUART SMITH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • KEVIN TEETERS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • JEFF TICKLE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

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

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 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

Provenance

Return type
form_990
Tax year
2024
Filed
15 November 2025
IRS schema version
2024v5.0
Source object
202533219349320433

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

The source document this was parsed from is served over the API, which is where bulk and document access live.