Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $311,413

• 1d · Related organizations

  $931,913

• 1f · All other contributions, gifts and grants

  $3,571,779

• 2a · Program service revenue: LPGA FOUNDERS TOURN.

  total $6,700,871 · related or exempt $6,700,871

• 3 · Investment income

  total $173,578 · excluded $173,578

• 8a · Fundraising events: gross income

  $28,213

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

  $311,413

• 8b · Fundraising events: direct expenses

  $111,172

• 8c · Net income from fundraising events

  total -$82,959 · excluded -$82,959

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $933,295 · program services $933,295

• 2 · Grants to domestic individuals

  total $86,275 · program services $86,275

• 3 · Grants to foreign organizations and individuals

  total $71,882 · program services $71,882

• 7 · Other salaries and wages

  total $784,619 · program services $588,464 · management and general $156,924 · fundraising $39,231

• 8 · Pension plan contributions

  total $11,608 · program services $8,706 · management and general $2,322 · fundraising $580

• 9 · Other employee benefits

  total $58,084 · program services $43,563 · management and general $11,617 · fundraising $2,904

• 10 · Payroll taxes

  total $29,375 · program services $22,031 · management and general $5,875 · fundraising $1,469

• 11b · Fees: legal

  total $15,250 · management and general $15,250

• 11c · Fees: accounting

  total $64,994 · management and general $64,994

• 11f · Fees: investment management

  total $3,087 · management and general $3,087

• 11g · Fees: other

  total $652,762 · program services $306,798 · management and general $326,381 · fundraising $19,583

• 12 · Advertising and promotion

  total $353,456 · program services $353,456

• 13 · Office expenses

  total $58,877 · program services $47,102 · management and general $10,009 · fundraising $1,766

• 17 · Travel

  total $203,851 · program services $152,888 · management and general $40,770 · fundraising $10,193

• 22 · Depreciation, depletion and amortization

  total $2,217 · management and general $2,217

• 23 · Insurance

  total $5,116 · management and general $5,116

• 24a · Other expenses: TOURNAMENT EXPENSE

  total $6,846,472 · program services $6,846,472

• 24b · Other expenses: OUTREACH PROGRAMS

  total $567,638 · program services $510,874 · management and general $56,764

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $1,549,258 · end of year $1,989,558

• 4 · Accounts receivable

  beginning of year $499,491 · end of year $746,190

• 9 · Prepaid expenses and deferred charges

  beginning of year $112,470 · end of year $62,158

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

  $105,300

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

  $104,182

• 10c · Land, buildings and equipment, net

  beginning of year $3,335 · end of year $1,118

• 11 · Investments: publicly traded securities

  beginning of year $6,128,141 · end of year $7,285,011

• 15 · Other assets

  beginning of year $0 · end of year $4,722

• 17 · Accounts payable and accrued expenses

  beginning of year $244,403 · end of year $427,999

• 19 · Deferred revenue

  beginning of year $565,740 · end of year $616,173

• 25 · Other liabilities

  beginning of year $582,700 · end of year $266,475

• 27 · Net assets without donor restrictions

  beginning of year $2,400,806 · end of year $2,934,910

• 28 · Net assets with donor restrictions

  beginning of year $4,499,046 · end of year $5,843,200

The filer's explanations (Part III)

PART I, LINE 3

COMPENSATION OF THE FOUNDATION'S PRESIDENT IS DETERMINED IN ACCORDANCE WITH THE POLICIES AND PROCEDURES OF THE LADIES PROFESSIONAL GOLF ASSOCIATION, A RELATED ORGANIZATION. LPGA USED THE FOLLOWING METHODS TO ESTABLISH COMPENSATION: - COMPENSATION COMMITTEE - INDEPENDENT COMPENSATION CONSULTANT - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE

PART I, LINE 4B

LADIES PROFESSIONAL GOLF ASSOCIATION MAINTAINS A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. THE LPGA TOURNAMENT PLAYER RETIREMENT PLAN WAS ESTABLISHED TO PROVIDE THE ELIGIBLE MEMBERS OF THE TOURNAMENT DIVISION WITH POTENTIAL RETIREMENT BENEFITS. EVERY MEMBER OF THE LPGA TOURNAMENT DIVISION WHO COMPETES IN THE "MINIMUM NUMBER" OF OFFICIAL LPGA TOURNAMENTS ANNUALLY IS ELIGIBLE TO PARTICIPATE IN THE PLAN. AMOUNTS ALLOCATED TO MEMBERS ARE BASED UPON A FORMULA DETERMINED ANNUALLY BY THE BOARD WITH SUCH FORMULA CONSIDERING SUCH FACTORS AS THE NUMBER OF TOURNAMENTS IN WHICH A MEMBER COMPETES, THE AMOUNT OF PRIZE MONEY WON, THE NUMBER OF YEARS A MEMBER HAS PLAYED AND ANY DIRECT SERVICE TO THE ASSOCIATION. DURING 2023, CHEYENNE WOODS WAS A PARTICIPANT IN THE PLAN; HOWEVER, NO AMOUNT WAS ALLOCATED TO HER.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• LPGA FOUNDATION TOURNAMENT PROPERTIES

  GOLF EVENT · FL · income $6,700,871 · assets $216,374

  Directly controlled by LPGA FND