Pga Tour Inc

TO PROMOTE THE SPORT OF PROFESSIONAL GOLF AND THE COMMON INTERESTS OF TOURING GOLF PROFESSIONALS.

THE PRINCIPAL MISSION OF PGA TOUR, INC. IS THE PROMOTION OF THE SPORT OF PROFESSIONAL GOLF AND THE COMMON INTERESTS OF THE TOURING PROFESSIONAL GOLFER AS WELL AS GROWTH OF THE GAME. THIS IS PRIMARILY ACCOMPLISHED THROUGH MANAGING AND CO-SPONSORING PROFESSIONAL GOLF TOURNAMENTS, SECURING CORPORATE SPONSORSHIP OF TOURNAMENTS AND OTHER PROGRAMS, AND SECURING TELEVISION EXPOSURE FOR ITS PROFESSIONAL GOLF TOURNAMENTS. BY MANAGING AND CO-SPONSORING FIVE PROFESSIONAL GOLF TOURNAMENT DIVISIONS (PGA TOUR, PGA TOUR CHAMPIONS, KORN FERRY TOUR, PGA TOUR LATINOAMERICA, AND PGA TOUR CANADA - COLLECTIVELY KNOWN AS THE PGA TOUR), PGA TOUR, INC. PROVIDES OPPORTUNITIES FOR THE TOURING PROFESSIONAL GOLFER TO COMPETE AND EARN PRIZE MONEY AND BENEFITS WHILE GROWING THE GAME BY EXPOSING IT TO THE GENERAL PUBLIC THROUGH ATTENDANCE AND TELEVISION VIEWING. IN 2022, THE VARIOUS TOURS COLLECTIVELY HELD 121 TOURNAMENTS. TOTAL PRIZE MONEY AND OTHER PLAYER-RELATED BENEFITS EARNED THROUGH COMPETITION BY PROFESSIONAL GOLFERS ACROSS THE VARIOUS TOURS IN 2022 EXCEEDED $815 MILLION. THESE TOURNAMENTS WERE PLAYED IN AT LEAST 35 U.S. STATES AND 14 DIFFERENT COUNTRIES IN 2022, ALLOWING PEOPLE THROUGHOUT THE WORLD THE OPPORTUNITY TO EXPERIENCE FIRST-HAND THE SPORT OF PROFESSIONAL GOLF. MEMBERS ON THE PGA TOUR REPRESENT THE WORLD'S BEST PLAYERS, HAILING FROM 24 COUNTRIES AND TERRITORIES OUTSIDE OF THE UNITED STATES. PGA TOUR, INC. SECURES TELEVISION COVERAGE FOR ITS TOURNAMENTS THROUGH AGREEMENTS WITH NATIONAL AND INTERNATIONAL BROADCASTERS AND CABLE CHANNELS. IN 2022, THE PGA TOUR BEGAN ITS NEW NINE-YEAR DOMESTIC MEDIA RIGHTS AGREEMENTS FOR THE PERIOD COVERING FROM 2022 THROUGH 2030. THIS INCLUDES LONG-TERM DOMESTIC DISTRIBUTION PARTNERSHIPS FOR BROADCAST COVERAGE ON CBS, NBC, AND GOLF CHANNEL AND VIDEO STREAMING SERVICE ON ESPN+. INTERNATIONALLY, PGA TOUR COVERAGE IS AVAILABLE ACROSS 200+ COUNTRIES AND TERRITORIES IN 26 LANGUAGES VIA 44 LOCAL BROADCAST PARTNERS. IN ADDITION TO TELEVISION COVERAGE, THE PGA TOUR IS EMBRACING DIGITAL MEDIA ACROSS MULTIPLE PLATFORMS, INCLUDING THE PGA TOUR APP AND A SUBSIDIARY'S WEBSITE, PGATOUR.COM. THE PGA TOUR CONTINUES TO GROW ITS PRESENCE ON SOCIAL MEDIA PLATFORMS SUCH AS FACEBOOK, INSTAGRAM, TIKTOK, LINKEDIN, X (FORMERLY KNOWN AS TWITTER), WECHAT, WEIBO, TOUTIAO, DOUYIN, AND LINE THROUGH A SUBSIDIARY TO BRING THE PLAYERS CLOSER TO THE GENERAL PUBLIC, VOLUNTEERS, AND SPONSORS. PGA TOUR, INC. AND THE LADIES PROFESSIONAL GOLF ASSOCIATION ("LPGA") MAINTAIN A STRATEGIC ALLIANCE DESIGNED TO FURTHER PROMOTE THE GROWTH OF PROFESSIONAL GOLF INCLUDING AREAS SUCH AS SCHEDULE COORDINATION, JOINT MARKETING, TELEVISION REPRESENTATION, DIGITAL MEDIA, AND THE DEVELOPMENT OF JOINT EVENTS INCLUDING THE INAUGURAL GRANT THORNTON INVITATIONAL IN DECEMBER 2023. THE PGA TOUR AND DP WORLD TOUR CONTINUED ITS STRATEGIC ALLIANCE, WITH THE TOURS EXPLORING ALL FACETS OF COLLABORATION. THIS COLLABORATION INCLUDES WORKING IN PARTNERSHIP ON A NUMBER OF AREAS INCLUDING GLOBAL SCHEDULING AND PLAYING OPPORTUNITIES FOR THE RESPECTIVE MEMBERSHIPS, INCLUDING THE CO-SANCTIONING OF THE GENESIS SCOTTISH OPEN, TO APPEAR ON BOTH SCHEDULES, AND PROVIDING ACCESS TO DP WORLD TOUR MEMBERS TO TWO PGA TOUR EVENTS. IN 2022, THE PGA TOUR AND DP WORLD TOUR MOVED TO SIGNIFICANTLY STRENGTHEN NOT ONLY THE EXISTING ALLIANCE, BUT ALSO HELP DEVELOP PLAYERS TO COMPETE ON THE PGA TOUR. THE MISSION OF GROWING THE GAME OF GOLF IS ENHANCED THROUGH TELEVISION, CORPORATE SPONSORSHIPS AND THE PROMOTIONAL ACTIVITIES ASSOCIATED WITH PROMOTING THE SPORT OF PROFESSIONAL GOLF. THE QUALIFIED SPONSORSHIP PAYMENTS RECEIVED BY PGA TOUR, INC., AS DEFINED IN INTERNAL REVENUE CODE SECTION 513(I), PROMOTE THE SPORT THROUGH FUNDS UTILIZED IN PART TO INCREASE PURSE AMOUNTS AND EARNINGS OPPORTUNITIES FOR PROFESSIONAL GOLFERS ON THE VARIOUS PROFESSIONAL GOLF TOURS COLLECTIVELY KNOWN AS THE PGA TOUR AND TO ACHIEVE PGA TOUR, INC.'S GOAL OF GIVING BACK TO THE COMMUNITIES THE PGA TOUR PLAYS IN, AS SET FORTH IN PART III, LINE 4B.

IN ADDITION TO PROMOTING AND BUILDING THE SPORT OF PROFESSIONAL GOLF, PGA TOUR, INC. IS COMMITTED TO GENERATING SUBSTANTIAL CHARITABLE CONTRIBUTIONS IN THE COMMUNITIES WHERE ITS TOURNAMENTS ARE PLAYED, EVEN THOUGH PGA TOUR, INC. IS NOT A CHARITABLE IRC SECTION 501(C)(3) ORGANIZATION. A MAJORITY OF THE TOURNAMENTS ARE OPERATED BY CHARITABLE ORGANIZATIONS THAT GIVE THE NET PROCEEDS FROM THE TOURNAMENT TO LOCAL CHARITIES. AREAS OF SUPPORT INCLUDE, BUT ARE NOT LIMITED TO, HEALTHCARE, EDUCATION, YOUTH DEVELOPMENT, DISASTER RELIEF, FOOD BANKS, MILITARY, AND ENVIRONMENT. THE PGA TOUR ALSO CONTINUES ITS 10-YEAR, $100+ MILLION COMMITMENT TO SUPPORT NONPROFIT ORGANIZATIONS THAT ADDRESS THE DISPARITIES THAT DISPROPORTIONATELY AFFECT BLACK CITIZENS AND UNDERREPRESENTED AND UNDERSERVED POPULATIONS. WITH THIS INCREASED FOCUS TO IMPROVE THE PGA TOUR'S UNDERSTANDING AND COLLABORATION WITH ITS PARTNERS AND COMMUNITIES, AT THE TIME OF FILING THIS RETURN, MORE THAN $100 MILLION HAS BEEN GENERATED, DRIVING IMPACT ACROSS COMMUNITIES. AS PART OF THE 2022 PRESIDENTS CUP, A BIANNUAL INTERNATIONAL TEAM COMPETITION, THE CHARLIE SIFFORD CENTENNIAL CUP WAS CREATED TO SHOWCASE SELECT COLLEGE TEAMS REPRESENTING HISTORICALLY BLACK COLLEGES AND UNIVERSITIES. THIS COMPETITION IN CHARLOTTE WAS AN EXTENSION OF THE PGA TOUR'S ONGOING COMMITMENT TO SUPPORT HBCUS. TO DATE, TOURNAMENTS ACROSS THE PGA TOUR HAVE GENERATED MORE THAN $3.64 BILLION OF TOTAL CHARITABLE DONATIONS SINCE THE FIRST $10,000 CONTRIBUTION WAS MADE IN 1938. THE PGA TOUR'S SUBSTANTIAL INVOLVEMENT IN THE CHARITABLE WORLD PROVIDES A PLATFORM FOR ITS MEMBERS TO RAISE SUBSTANTIAL CHARITABLE DOLLARS THROUGH THEIR INDIVIDUAL FOUNDATIONS AND FUNDRAISERS. FINALLY, IT SHOULD BE NOTED THAT, FROM TIME TO TIME, THE PGA TOUR MAKES CHARITABLE DONATIONS TO BONA FIDE CHARITIES AND FOUNDATIONS OPERATED FOR, BY, OR IN THE NAME OF PGA TOUR, INC. MEMBERS.

PGA TOUR, INC. INCLUDES, AS PART OF ITS MISSION STATEMENT, THE DEDICATION TO PROTECT THE INTEGRITY OF THE GAME OF PROFESSIONAL GOLF. THE TOURING PROFESSIONAL GOLFER HAS AN UNWAVERING ADHERENCE TO GOLF'S INHERENT VALUES, SUCH AS HONESTY, INTEGRITY, AND SPORTSMANSHIP. GOLF IS A SPORT IN WHICH PLAYERS CALL PENALTIES ON THEMSELVES, WHETHER AN INFRACTION IS VISIBLE TO OTHERS OR NOT. IT IS A SPORT IN WHICH COMPETITORS SHAKE HANDS AND CONGRATULATE ONE ANOTHER AT THE CONCLUSION OF EACH AND EVERY ROUND, TOURNAMENT OR MATCH, WITHOUT FAIL. IT IS ALSO A SPORT THAT FAITHFULLY TEACHES EACH GENERATION OF PARTICIPANTS FROM THE EARLIEST AGE THAT ITS RULES ARE UNCOMPROMISABLE. THESE ARE VALUES THAT PGA TOUR, INC.'S TOURING PROFESSIONAL GOLFERS LIVE BY AND DEMONSTRATE EVERY ROUND OF EVERY TOURNAMENT.