Triangle Golf Foundation Inc
- Assets
- $9.1m
- Revenue
- $2.4m
- Investments
- $61.6k
- Employees
- 106
- Location
- Raleigh, NC
- Founding
- 08/2002
- Data as of
- 12/2023
- EIN
- 56-2266025
Organization Overview
Triangle Golf Foundation Inc, operating under the name The First Tee Of The Triangle, is located in Raleigh, NC. The organization was established in 2002. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 12/2023, First Tee Of The Triangle employed 106 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. First Tee Of The Triangle is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, First Tee Of The Triangle generated $2.4m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 19.7% each year . All expenses for the organization totaled $1.5m during the year ending 12/2023. While expenses have increased by 14.7% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPACT THE LIVES OF YOUNG PEOPLE BY PROVIDING EDUCATIONAL PROGRAMS THAT BUILD CHARACTER, INSTILL LIFE-ENHANCING VALUES AND PROMOTE HEALTHY CHOICES THROUGH THE GAME OF GOLF.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A. TRIANGLE GOLF FOUNDATION TEACHES LIFE SKILLS AND KEY COMMITMENTS THROUGH THE GAME OF GOLF. THE FIRST TEE LIFE SKILLS EXPERIENCE IS BASED ON THE KEY COMMITMENTS OF PURSUING GOALS, GROWING THROUGH CHALLENGES, COLLABORATING WITH OTHERS, BUILDING POSITIVE SELF-IDENTITY, AND USING GOOD JUDGMENT. WE ARE ONE OF 150 CHAPTERS OF THE FIRST TEE IN THE WORLD AND ONE OF 7 IN THE STATE OF NORTH CAROLINA. THIS YEAR WE PROVIDED EDUCATIONAL PROGRAMS WHICH INCLUDED GOLF COURSE-BASED PROGRAMS FOR 898 PARTICIPANTS, DRIVE4SUCCESS FOR 458 PARTICIPANTS, OUTREACH PROGRAMS FOR 364 PARTICIPANTS, AND CAMPS FOR 155 PARTICIPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ted Klinck Chair | OfficerTrustee | 1 | $0 |
Scott Ruerup Vice Chair | OfficerTrustee | 1 | $0 |
Brad George Treasurer | OfficerTrustee | 1 | $0 |
Will Duckett Board Member | Trustee | 1 | $0 |
Andy Bilodeau Board Member | Trustee | 1 | $0 |
Jennings Glenn Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $834,829 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,603,651 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,438,480 |
| Total Program Service Revenue | $120,292 |
| Investment income | $19,537 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,632 |
| Net Income from Fundraising Events | -$218,488 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,369,419 |
| 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. | $211,156 |
| Compensation of current officers, directors, key employees. | $52,789 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $659,380 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $41,265 |
| Payroll taxes | $65,225 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,438 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $111,115 |
| Advertising and promotion | $20,211 |
| Office expenses | $2,725 |
| Information technology | $56,359 |
| Royalties | $0 |
| Occupancy | $75,545 |
| Travel | $74,212 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $50,878 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,537 |
| Insurance | $23,795 |
| All other expenses | $0 |
| Total functional expenses | $1,537,257 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $577,110 |
| Savings and temporary cash investments | $723,663 |
| Pledges and grants receivable | $1,411,500 |
| Accounts receivable, net | $135,275 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $44,575 |
| Net Land, buildings, and equipment | $6,112,376 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $61,554 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,353 |
| Total assets | $9,070,406 |
| Accounts payable and accrued expenses | $77,491 |
| Grants payable | $0 |
| Deferred revenue | $4,067 |
| 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 | $1,609,082 |
| Other liabilities | $0 |
| Total liabilities | $1,690,640 |
| Net assets without donor restrictions | $5,704,317 |
| Net assets with donor restrictions | $1,675,449 |
| 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 | $9,070,406 |