United States Golf Association

SEE SCHEDULE O

CHAMPIONSHIPS:EXPENSES: $101,652,963 - GRANTS: $950,000 - REVENUE: $86,345,441EVENT INSURANCE PAYMENT:EXPENSES: $0 - GRANTS: $0 - REVENUE: $25,500,000SEE SCHEDULE OCHAMPIONSHIPS:THE USGA CONDUCTS CHAMPIONSHIPS THAT CELEBRATE ATHLETICISM AT THE HIGHEST LEVEL OF THE GAME FOR BOTH PROFESSIONAL AND AMATEUR PLAYERS AND INSPIRES GOLFERS WORLDWIDE TO PLAY AND ENJOY THE GAME. IT CONDUCTS THE UNITED STATES OPEN, UNITED STATES WOMEN'S OPEN, UNITED STATES SENIOR OPEN AND UNITED STATES SENIOR WOMEN'S OPEN CHAMPIONSHIPS, WHICH ARE OPEN TO PROFESSIONAL AND AMATEUR GOLFERS AROUND THE WORLD. THE USGA ALSO ANNUALLY CONDUCTS 10 NATIONAL AMATEUR CHAMPIONSHIPS AND SUPPORTS SEVERAL INTERNATIONAL COMPETITIONS. THE USGA PROMOTED THE GAME AT ITS HIGHEST LEVEL THROUGH A VARIETY OF DIFFERENT MEANS INCLUDING NATIONAL AND INTERNATIONAL TELEVISION AND RADIO BROADCASTS, AND DIGITAL AND SOCIAL MEDIA PLATFORMS. ADDITIONALLY, THE USGA SUPPORTS TEAMS FOR SEVERAL INTERNATIONAL AMATEUR GOLF CHAMPIONSHIPS, PROVIDING OPPORTUNITIES FOR AMERICAN ATHLETICS TO COMPETE IN GLOBAL EVENTS.EVENT INSURANCE PAYMENT:THE USGA ALERTED THE EVENT CANCELLATION INSURANCE CARRIER OF ITS INTENTION TO FILE A CLAIM FOR LOSSES ARISING FROM THE RESCHEDULING AND ALTERATION OF THE 2021 U.S. OPEN (INCLUDING THE CANCELLATION OF SPECTATORS AND CORPORATE HOSPITALITY) DUE TO THE COVID-19 PANDEMIC. BASED ON THE VALIDITY OF THE USGA'S CLAIM AND THE ESTIMATED CLAIM TOTAL VALUE, THE INSURANCE CARRIER PAID THE USGA $25,500,000 IN 2021. THESE AMOUNTS HAVE BEEN RECOGNIZED IN THE 2021 FINANCIAL RESULTS, AS THEY MET THE CRITERIA OF THE CONTINGENCY BEING ESTIMABLE AND PROBABLE. ANY FUTURE REIMBURSEMENTS WILL BE RECORDED WHEN SUCH PAYMENTS AND/OR PROOF OF FINAL SETTLEMENT ARE RECEIVED FROM THE INSURER.

GOLFER ENGAGEMENT SEE SCHEDULE OGOLFER ENGAGEMENT- GHIN, MEMBERS, REGIONAL AFFAIRS THE USGA PROVIDES SERVICES AND OPPORTUNITIES TO MORE DEEPLY ENGAGE GOLFERS IN THE GAME. IT MAINTAINS A ROBUST TECHNOLOGY PLATFORM THAT CALCULATES A HANDICAP INDEX FOR ANY GOLFER IN THE UNITED STATES WHO WISHES TO MEASURE THEIR GOLF ABILITY OR PLAY A FAIR GAME THROUGH A GOLF ASSOCIATION OR CLUB. MILLIONS OF GOLFERS, AS WELL AS GOLF ADMINISTRATORS, SOME INTERNATIONAL GOLFERS IF THEIR FEDERATION IS A CUSTOMER OF THIS USGA SERVICE AND THOSE WHO CONDUCT EVENTS, USE THIS SYSTEM DAILY TO CONNECT WITH THE GOLF COMMUNITY. THIS PLATFORM DELIVERS SERVICES THROUGH TOOLS SUCH AS APPLICATIONS AND ONLINE PROGRAMS TO PROMOTE ACCESSIBILITY AND WELCOME MORE PEOPLE TO GOLF REGARDLESS OF ABILITY. THROUGH ITS GOLF HANDICAP AND INFORMATION NETWORK (GHIN), GOLF ASSOCIATIONS DOMESTICALLY AND INTERNATIONALLY PROVIDE A RELIABLE HANDICAP INDEX TO MILLIONS OF GOLFERS. THE USGA ALSO ENGAGES WITH MORE THAN 300,000 MEMBERS WHOSE FINANCIAL SUPPORT HELPS FUEL MANY OF ITS PROGRAMS, AND OFFER BENEFITS TO THEM INCLUDING EDUCATION OPPORTUNITIES, GOLF EVENT ACCESS, AND OTHERS. THROUGH ITS 58 ALLIED GOLF ASSOCIATIONS IN EVERY STATE IN THE U.S. AND PUERTO RICO, THE USGA ALSO HAS A NETWORK THAT PROVIDES SERVICES LOCALLY TO EVERY GOLF COMMUNITY IN AMERICA. THIS NETWORK DELIVERS KEY USGA SERVICES SUCH AS THE ADMINISTRATION OF GOLF HANDICAPPING, RULES EDUCATION, EVENT DEVELOPMENT AND PROGRAMS THAT WELCOME GOLFERS TO PLAY. USGA REGIONAL AFFAIRS OFFICES SUPPORT THESE NETWORKS WHILE ENGAGING VOLUNTEERS TO SERVE THE GAME. OTHER SERVICES EACH YEAR, THE USGA INVESTS IN A VARIETY OF PROGRAMS AND SERVICES THAT BENEFIT GOLFERS OF ALL AGES, GENDERS AND ABILITIES TO BOTH WELCOME AND GROW THE NUMBER OF GOLFERS WHO PLAY THE GAME AS A RECREATIONAL SPORT. THE USGA SUPPORTS GRASSROOTS GOLF PROGRAMS FOR JUNIORS, INCLUDING THE FIRST TEE, LPGA*USGA GIRLS GOLF AND DRIVE CHIP & PUTT, WHICH PROVIDE ACCESS TO THE GAME FOR HUNDREDS OF THOUSANDS OF JUNIORS ANNUALLY. THE USGA ALSO MAINTAINS THE WORLD'S LARGEST GOLF MUSEUM AND LIBRARY DEDICATED TO THE GAME'S HISTORY AND SERVES AS A STEWARD OF EXTENSIVE HISTORICAL COLLECTIONS, INCLUSIVE OF PRESERVATION AND ACQUISITION OF HISTORIC ARTIFACTS, A RESEARCH CENTER, PHYSICAL AND ONLINE LIBRARY AND EDUCATIONAL PROGRAMS.

GOVERNANCE SEE SCHEDULE OGOVERNANCE: RULES, HANDICAPPING, EQUIPMENT STANDARDS, DISTANCE. THE USGA SERVES GOLF BY PROVIDING THE STANDARDS BY WHICH ALL GOLFERS PLAY THE GAME THROUGH A UNIVERSAL SET OF PLAYING, EQUIPMENT STANDARDS, AMATEUR STATUS AND HANDICAPPING RULES. THE USGA'S ROLE AS A GOVERNING BODY IS SHARED GLOBALLY WITH THE R&A, AND INCLUDES WRITING AND INTERPRETING THESE RULES, AS WELL AS PROVIDING EDUCATION ASSETS FOR GOLFERS, GOLF ADMINISTRATORS AND GOLF FEDERATIONS. INCLUDED IN THIS FUNCTION IS DELIVERY OF BOTH PRINTED AND DIGITAL LEARNING TOOLS, SEMINARS, AND THE TRAINING OF THOUSANDS OF RULES OFFICIALS THROUGH A SINGULAR TESTING PROCESS. THE USGA MAINTAINS ONE OF TWO GOLF EQUIPMENT TESTING FACILITIES IN THE WORLD TO ENSURE GLOBAL CONFORMANCE AND PROMOTE A FAIR AND EQUITABLE GAME FOR ALL. IN ITS GOVERNANCE ROLE, THE USGA ALSO CONDUCTS RESEARCH AND APPLIES SCIENCE TO ENSURE THE INTEGRITY OF THE SPORT WHILE PROMOTING INNOVATION.

THE USGA GREEN SECTION OFFERS PRODUCTS AND SERVICES THAT DIRECTLY IMPROVE THE GOLFER EXPERIENCE AND ADVANCE GOLF FACILITIES, INCLUDING THE DEVELOPMENT OF MEASUREMENT AND DECISION-MAKING TOOLS. COURSE CONSULTING SERVICES OFFERED TO GOLF COURSES PROVIDE EXPERTISE TO FACILITIES WITH THE PURPOSE OF ADVANCING THEIR GOLF COURSE FACILITY THROUGH AGRONOMICAL, ENVIRONMENTAL AND ECONOMIC BEST PRACTICES. THE GREEN SECTION ALSO PROVIDES EDUCATIONAL RESOURCES ON ISSUES INVOLVING THE GAME THROUGH THE GREEN SECTION RECORD, SPEAKING ENGAGEMENTS, AND CONFERENCES. THROUGH AN ANNUAL INVESTMENT IN AN EXTENSIVE RESEARCH PROGRAM, THE USGA FUNDS PROJECTS THAT IMPROVE THE GOLFER EXPERIENCE WHILE REDUCING GOLF COURSE CONSUMPTION OF KEY RESOURCES. THE USGA DELIVERS ON ITS MISSION TO CHAMPION AND ADVANCE THE GAME THROUGH VARIOUS EFFORTS TO IMPROVE DIVERSITY, EQUITY AND INCLUSION IN GOLF. SEVERAL 2021 PROGRAMS AND INVESTMENTS HAVE FUELED THIS WORK, BEGINNING WITH INTERNAL RECRUITMENT PROGRAMS TO HIRE USGA PART TIME, TEMPORARY AND FULL-TIME STAFF WITHIN DIVERSE COMMUNITIES. THE USGA'S PJ BOATWRIGHT PROGRAM HAS ALSO OPENED MORE THAN 150 PAID INTERNSHIPS IN THE GAME OF GOLF, PROVIDING IN-DEPTH WORK EXPERIENCES FOR PEOPLE OF DIVERSE BACKGROUNDS, AND HAVE INITIATED GRANTS PROGRAMS LIKE THE USGA FIRST TEE IDEA (INCLUSION, DIVERSITY, EQUITY AND ACCESSIBILITY) GRANTS AND LPGA/USGA GIRLS GOLF LOCAL CHAPTER GRANTS TO FUND LOCAL JUNIOR PROGRAMS IN UNDERSERVED COMMUNITIES. CHAMPIONSHIP QUALIFIERS AND GLOBAL COMPETITIONS HAVE ALSO BEEN FUNDED BY THE USGA IN LATIN AMERICA, CENTRAL AMERICA, MEXICO AND ASIAN COMMUNITIES TO INSPIRE MORE PEOPLE TO PLAY. RULES EDUCATION AND TRAINING HAS ALSO BEEN TRANSLATED INTO MULTIPLE LANGUAGES TO SUPPORT MORE GOLF RULES OFFICIALS FROM DIVERSE BACKGROUNDS, WHILE CREATING THE WORLD HANDICAPPING SYSTEM TO ENCOURAGE WORLDWIDE EQUITY AMONG RECREATIONAL GOLFERS.