National Golf Foundation Inc
- Assets
- $5.5m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 26
- Location
- Jupiter, FL
- Founding
- 02/1960
- Data as of
- 12/2022
- EIN
- 36-2250699
Organization Overview
National Golf Foundation Inc is located in Jupiter, FL. The organization was established in 1960. According to its NTEE Classification (N03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, National Golf Foundation Inc employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Golf Foundation Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, National Golf Foundation Inc generated $2.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $2.9m during the year ending 12/2022. While expenses have increased by 5.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O NGF'S MISSION IS TO FOSTER THE GROWTH AND VITALITY OF THE GAME AND BUSINESS OF GOLF. DURING 2022, NGF HOSTED ITS FOURTEENTH ANNUAL GOLF BUSINESS SYMPOSIUM WITH A DRAW OF NEARLY 150 OF THE TOP EXECUTIVES IN GOLF IN ATTENDANCE. THE SYMPOSIUMS COVERED TOPICS RELATED TO THE EVOLUTION OF GOLF: BRAND IMAGE, MEDIA, AND PLAY, AS WELL AS THE STATE OF THE GOLF INDUSTRY. NGF DID PRODUCE ITS ANNUAL REPORTS: GRAFFIS REPORT, GOLF PARTICIPATION IN THE US, AND GOLF FACILITIES IN THE US. THESE REPORTS WERE DELIVERED TO APPROXIMATELY 4,000 MEMBERS NATIONWIDE. IN ADDITION, NGF PRODUCED A BIWEEKLY ELECTRONIC NEWSLETTER TO MORE THAN 50,000 INDIVIDUALS IN THE GOLF INDUSTRY REPORTING INDUSTRY INSIGHTS ON THE HEALTH OF GOLF THROUGHOUT THE PANDEMIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NGF'S MISSION IS TO FOSTER THE GROWTH AND VITALITY OF THE GAME AND BUSINESS OF GOLF. DURING 2022, NGF HOSTED ITS FOURTEENTH ANNUAL GOLF BUSINESS SYMPOSIUM WITH A DRAW OF NEARLY 150 OF THE TOP EXECUTIVES IN GOLF IN ATTENDANCE. THE SYMPOSIUMS COVERED TOPICS RELATED TO THE EVOLUTION OF GOLF: BRAND IMAGE, MEDIA, AND PLAY, AS WELL AS THE STATE OF THE GOLF INDUSTRY.
NGF DID PRODUCE ITS ANNUAL REPORTS: GRAFFIS REPORT, GOLF PARTICIPATION IN THE US, AND GOLF FACILITIES IN THE US. THESE REPORTS WERE DELIVERED TO APPROXIMATELY 4,000 MEMBERS NATIONWIDE. IN ADDITION, NGF PRODUCED A BIWEEKLY ELECTRONIC NEWSLETTER TO MORE THAN 50,000 INDIVIDUALS IN THE GOLF INDUSTRY REPORTING INDUSTRY INSIGHTS ON THE HEALTH OF GOLF THROUGHOUT THE PANDEMIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John K Solheim Chairman | OfficerTrustee | 2 | $0 |
Tim Schantz Vice Chairman | OfficerTrustee | 2 | $0 |
Brad Hamilton Secretary/treasurer | OfficerTrustee | 2 | $0 |
Joe Assell Director | Trustee | 2 | $0 |
Anne Broholm Director | Trustee | 2 | $0 |
Mike Mccarley Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $962,136 |
| Investment income | $60,546 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $4,589 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $183 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,714,441 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,936,680 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $973,505 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,061,474 |
| Pension plan accruals and contributions | $19,464 |
| Other employee benefits | $122,341 |
| Payroll taxes | $125,048 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,550 |
| Fees for services: Accounting | $32,725 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $885 |
| Fees for services: Other | $150,397 |
| Advertising and promotion | $53,497 |
| Office expenses | $207,430 |
| Information technology | $6,278 |
| Royalties | $0 |
| Occupancy | $242,691 |
| Travel | $38,752 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $86,977 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $62,171 |
| Insurance | $23,888 |
| All other expenses | $0 |
| Total functional expenses | $2,929,683 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $350,638 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $195,343 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,528 |
| Prepaid expenses and deferred charges | $112,961 |
| Net Land, buildings, and equipment | $215,332 |
| Investments—publicly traded securities | $3,722,175 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $889,001 |
| Total assets | $5,488,178 |
| Accounts payable and accrued expenses | $553,808 |
| Grants payable | $0 |
| Deferred revenue | $133,865 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $494,883 |
| Total liabilities | $1,182,556 |
| Net assets without donor restrictions | $4,305,622 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,488,178 |