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Nonprofiteer
← CAVES VALLEY GOLF CLUB FOUNDATION INC

Form 990 for tax year 2024

Filed by CAVES VALLEY GOLF CLUB FOUNDATION INC.

Totals

Total revenue
$1,806,043
Total expenses
$1,566,787
Contributions and grants received
$947,362
Grants paid
$1,421,253
Program service revenue
$0
Investment income
$858,681
Other revenue
$0
Total assets, end of year
$4,796,899
Total liabilities, end of year
$37,037
Net assets or fund balances, end of year
$4,759,862
Program services expenses (Part IX)
$1,421,253
Management and general expenses
$81,987
Fundraising expenses
$63,547
Program service expenses (Part III)
$1,421,253

Program services were 90.7% 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

    $947,362

  • 1g · Noncash contributions included above

    $134,677

  • 3 · Investment income

    total $45,973 · excluded $45,973

  • 7a · Gross sales of assets other than inventory

    securities $2,786,032

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

    securities $1,973,324

  • 7c · Gain or loss

    securities $812,708

  • 7d · Net gain or loss

    total $812,708 · excluded $812,708

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,247,500 · program services $1,247,500

  • 2 · Grants to domestic individuals

    total $173,753 · program services $173,753

  • 11c · Fees: accounting

    total $4,572 · management and general $4,572

  • 11f · Fees: investment management

    total $5,926 · management and general $5,926

  • 11g · Fees: other

    total $63,461 · management and general $63,461

  • 13 · Office expenses

    total $67,022 · management and general $3,475 · fundraising $63,547

  • 14 · Information technology

    total $4,553 · management and general $4,553

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $398,360 · end of year $1,122,262

  • 2 · Savings and temporary cash investments

    beginning of year $42,308 · end of year $11,472

  • 3 · Pledges and grants receivable

    beginning of year $1,281,727 · end of year $1,000,946

  • 11 · Investments: publicly traded securities

    beginning of year $3,310,664 · end of year $2,660,896

  • 15 · Other assets

    beginning of year $1,361 · end of year $1,323

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,197 · end of year $37,037

  • 27 · Net assets without donor restrictions

    beginning of year $3,742,496 · end of year $3,758,916

  • 28 · Net assets with donor restrictions

    beginning of year $1,281,727 · end of year $1,000,946

Mission and programs · 2024

Mission

GOLF IS AN ANCIENT AND HONORABLE GAME. MANY OF LIFE'S LESSONS AND VALUES ARE LEARNED AND REINFORCED THROUGH GOLF. CAVES VALLEY NOT ONLY PROVIDES THE SETTING AND FACILITY TO ENJOY AND PASS ON OUR LOVE AND RESPECT FOR THE GAME, BUT IS ALSO A VEHICLE TO BRING AND ENHANCE THE VALUES RECEIVED BY YOUNG PEOPLE FROM GOLF. CAVES VALLEY GOLF CLUB FOUNDATION IS DEDICATED TO IMPROVING THE LIVES OF YOUNG PEOPLE THROUGH EXPOSURE TO GOLF'S CUSTOMS, TRADITIONS AND RULES OF FAIR PLAY. TO THIS END THE FOUNDATION SPONSORS A VARIETY OF ACTIVITIES TO: (I) INTRODUCE GOLF'S VALUES TO YOUNG PEOPLE ESPECIALLY THOSE WHO MIGHT OTHERWISE NEVER HAVE THIS OPPORTUNITY, (II) ASSIST CADDIES FURTHER THEIR FORMAL EDUCATION THROUGH COLLEGE SCHOLARSHIPS, AND (III) PARTNER WITH OTHER ORGANIZATIONS SIMILARLY FOCUSED ON MAKING A DIFFERENCE FOR YOUNG PEOPLE THROUGH THE GAME OF GOLF.

Activities or mission (Part I)

CAVES VALLEY GOLF CLUB FOUNDATION IS DEDICATED TO IMPROVING THE LIVES OF YOUNG PEOPLE THROUGH EXPOSURE TO GOLF'S CUSTOMS, TRADITIONS AND RULES OF FAIR PLAY. TO THIS END THE FOUNDATION SPONSORS A VARIETY OF ACTIVITIES TO: (I) INTRODUCE GOLF'S VALUES TO YOUNG PEOPLE ESPECIALLY THOSE WHO MIGHT OTHERWISE NEVER HAVE THIS OPPORTUNITY, (II) ASSIST CADDIES FURTHER THEIR FORMAL EDUCATION THROUGH COLLEGE SCHOLARSHIPS, AND (III) PARTNER WITH OTHER ORGANIZATIONS SIMILARLY FOCUSED ON MAKING A DIFFERENCE FOR YOUNG PEOPLE THROUGH THE GAME OF GOLF.

  • THE FOUNDATION HAS ESTABLISHED AN EDUCATIONAL SCHOLARSHIPPROGRAM FOR INDIVIDUALS PROVIDING SERVICES AS CADDIES AT CAVESVALLEY GOLF CLUB (CLUB) AND AT OTHER BALTIMORE METROPOLITAN AREAGOLF CLUBS. THE PURPOSE OF THE PROGRAM IS TO AFFORD THE FINANCIAL ASSISTANCE TO INDIVIDUALS PROVIDING SERVICES AS CADDIES IN ACHIEVING THEIR HIGHER EDUCATION GOALS. THE PROGRAM AWARDS SCHOLARSHIPS BASEDON A SELECTIVE APPLICATION AND APPROVAL PROCESS. THE SCHOLARSHIPSPROVIDE FINANCIAL TUITION ASSISTANCE AND ARE RENEWED ANNUALLY, UPTO A MAXIMUM OF THREE (3) YEARS, PROVIDED ELIGIBILITY REQUIREMENTSCONTINUE TO BE MET.THE FOUNDATION ALSO OFFERS SCHOLARSHIPS (UMES SCHOLARSHIPS) WITHTHE UNIVERSITY OF MARYLAND EASTERN SHORE (UMES) TO ASSIST UMES TO RECRUIT AND RETAIN THE HIGHEST CALIBER STUDENTS FOR ENROLLMENT INUMES' PGA GOLF MANAGEMENT PROGRAM. THE UMES SCHOLARSHIPPROVIDES FINANCIAL ASSISTANCE COVERING THE COSTS OF TUITION, ROOMAND BOARD, BOOKS AND A LAPTOP DURING THE DURATION OF THE STUDENT'SPARTICIPATION IN THE PROGRAM, CONTINGENT UPON ELIGIBILITYREQUIREMENTS CONTINUING TO BE MET.

    Expenses $173,753 · Grants $173,753

  • IN CONNECTION WITH CAVES VALLEY GOLF CLUB'S AGREEMENT WITH THE PGA TOUR AND THE WESTERN GOLF ASSOCIATION TO HOST THE 2021 BMW CHAMPIONSHIP, THE FOUNDATION AGREED TO DONATE $2 MILLION TO THE EVANS SCHOLARS FOUNDATION TO SUPPORT THE EVANS SCHOLARS FOUNDATION AT THE UNIVERSITY OF MARYLAND, COLLEGE PARK AND THE CAVES VALLEY EVANS SCHOLARSHIP HOUSE AT THE UNIVERSITY OF MARYLAND, COLLEGE PARK. CAVES VALLEY GOLF CLUB AGREED TO ASSIST THE FOUNDATION IN RAISING AT LEAST $1 MILLION OF THE $2 MILLION DONATION. THE DONATION WAS CONTINGENT UPON THE 2021 BMW CHAMPIONSHIP BEING HELD AT CAVES VALLEY GOLF CLUB, WHICH OCCURRED IN AUGUST 2021. THE INITIAL DONATION OF $2 MILLION IS BEING PAID IN FOUR INSTALLMENTS OF $500,000, ENDING JUNE 2023. FOR EACH OF THE YEARS ENDED DECEMBER 31, 2022 AND 2021, THE FOUNDATION DONATED $500,000 TO THE EVANS SCHOLARS FOUNDATION.IN AUGUST 2022 CAVES VALLEY GOLF CLUB ENTERED INTO AN AGREEMENT WITH THE PGA TOUR AND THE WESTERN GOLF ASSOCIATION TO HOST THE 2025 BMW CHAMPIONSHIP. IN CONNECTION WITH THIS AGREEMENT, THE FOUNDATION HAS AGREED TO DONATE AN ADDITIONAL $3 MILLION TO THE EVANS SCHOLARS FOUNDATION TO SUPPORT THE EVANS SCHOLARS FOUNDATION AT THE UNIVERSITY OF MARYLAND, COLLEGE PARK. THE DONATION WILL BE PAID IN THREE ANNUAL INSTALLMENTS OF $1 MILLION BEGINNING AUGUST 1, 2024 AND ENDING AUGUST 1, 2026. THE DONATION IS CONTINGENT UPON THE 2025 BMW CHAMPIONSHIP BEING HELD AT CAVES VALLEY GOLF CLUB. SHOULD THE EVANS SCHOLARS FOUNDATION BE UNSUCCESSFUL AT ESTABLISHING A PROGRAM AND SCHOLARSHIP HOUSE AT THE UNIVERSITY OF MARYLAND, COLLEGE PARK, ANY AND ALL PAYMENTS RECEIVED BY THE EVANS SCHOLARS FOUNDATION FROM THE FOUNDATION PRIOR TO THE DATE OF THE DETERMINATION OF THE UNSUCCESSFUL PROGRAMS WILL BE USED TO FUND OTHER EVANS SCHOLARS FOUNDATION PROGRAMMING.

    Expenses $1,000,000 · Grants $1,000,000

  • UNCONDITIONAL GRANTS MADE BY THE FOUNDATION TO FIRST TEE OF BALTIMORE, MARYLAND STATE GOLF ASSOCIATION, BOYS & GIRLS CLUBS OF METROPOLITAN BALTIMORE AND OTHER ORGANIZATIONS AS LISTED ON SCHEDULE I.

    Expenses $247,500 · Grants $247,500

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

Listed in Part VII

  • MR GARY L ATTMAN

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • MR THEO C RODGERS

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • MR BRETT INGERMAN

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • MR PRESTON ATHEY

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • MR STEVEN B FADER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MR LAWRENCE MOODY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MR SCOTT E DORSEY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MR JM SCHAPIRO

    TRUSTEE

    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.

Grants on this return

Provenance

Return type
form_990
Tax year
2024
Filed
30 October 2025
IRS schema version
2024v5.2
Source object
202533039349301898

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