Tennessee Golf Foundation
- Assets
- $21.9m
- Revenue
- $6.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Franklin, TN
- Founding
- 09/1990
- Data as of
- 12/2022
- EIN
- 58-1893478
Organization Overview
Tennessee Golf Foundation is located in Franklin, TN. The organization was established in 1990. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tennessee Golf Foundation 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 12/2022, Tennessee Golf Foundation generated $6.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.4% each year. All expenses for the organization totaled $6.8m during the year ending 12/2022. While expenses have increased by 10.4% 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.
Since 2014, Tennessee Golf Foundation has awarded 48 individual grants totaling $779,605. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE GOLF AND ITS LIFE-ENHANCING VALUES WITH AN EMPHASIS ON TEACHING THE YOUTH, VETERANS AND THE DISADVANTAGED.
Describe the Organization's Program Activity:
IN 2022 THE TENNESSEE GOLF FOUNDATION STARTED OPERATING THE SIMMONS BANK OPEN TOURNAMENT. IT IS A KORN FERRY TOUR EVENT. THE KORN FERRY TOUR IDENTIFIES & DEVELOPS PLAYERS READY TO COMPETE & WIN. IT IS "THE PATH TO THE PGA TOUR". THE SIMMONS BANK OPEN WAS A 7 DAY EVENT WITH 388 PARTICIPANTS.
THE JUNIOR TOUR MISSION IS TO FOSTER THE GROWTH AND DEVELOPMENT OF JUNIOR GOLFERS OF VARYING AGES AND ABILITY LEVELS TO BE THE BEST PLAYERS, STUDENTS, AND CITIZENS ON AND OFF THE COURSE. IN 2022 THE JUNIOR TOUR HAD 1,890 MEMBERS. THERE WERE 170 EVENTS IN 49 DAYS. THE JUNIOR GOLF ACADEMY WAS ATTENDED BY 256 JUNIOR GOLFERS, WITH 73 GIVEN SCHOLARSHIPS. THE LITTLE COURSE CONTINUED TO PROVIDE TOURNAMENTS AND OVER 20,000 ROUNDS WERE PLAYED IN 2022. IN ADDITION OVER 2,000 YOUNG GOLFERS PARTICIPATED IN PROGRAMS TAUGHT AT THE LITTLE COURSE.
VARIOUS PROGRAMS SUCH AS GOLF TOURNAMENTS ARE PERFORMED EACH YEAR TO PROMOTE GOLF IN TN.
THE FIRST TEE PROGRAM STARTED IN 2001 IN NASHVILLE CONTINUES TO GROW. THERE ARE NOW 5 FIRST TEE CHAPTERS AND OVER 1,600 STUDENTS PARTICIPATED AT THE TENNESSEE FIRST TEE PROGRAMS IN NASHVILLE, CHATTANOOGA, MEMPHIS, SMYRNA, AND KNOXVILLE. TRI-CITIES, CLARKSVILLE AND JACKSON ARE PROGRAMMING LOCATIONS IN NASHVILLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Whitney Turnbow President | Officer | 40 | $251,704 |
Richard Horton Advisor To C | 10 | $230,932 | |
Jim Seabury Chairman | OfficerTrustee | 2 | $0 |
Johnny Bridgeman Secretary/tr | OfficerTrustee | 2 | $0 |
Gail Smith Past Preside | Trustee | 2 | $0 |
Tim Jackson Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $52,550 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,824,696 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,877,246 |
| Total Program Service Revenue | $4,002,300 |
| Investment income | $316,011 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $28,928 |
| Net Gain/Loss on Asset Sales | $25,688 |
| Net Income from Fundraising Events | $208,360 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $30,579 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,498,793 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $126,526 |
| Grants and other assistance to domestic individuals. | $92,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $272,026 |
| Compensation of current officers, directors, key employees. | $49,487 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,456,699 |
| Pension plan accruals and contributions | $70,810 |
| Other employee benefits | $83,461 |
| Payroll taxes | $196,113 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $18,281 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $37,565 |
| Fees for services: Other | $54,720 |
| Advertising and promotion | $18,475 |
| Office expenses | $81,998 |
| Information technology | $7,949 |
| Royalties | $0 |
| Occupancy | $298,602 |
| Travel | $90,039 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $36,811 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $134,679 |
| Insurance | $61,102 |
| All other expenses | $163,578 |
| Total functional expenses | $6,820,546 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $929,738 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $11,113 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,487,309 |
| Investments—publicly traded securities | $19,501,861 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $100 |
| Total assets | $21,930,121 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $3,192,629 |
| Total liabilities | $3,192,629 |
| Net assets without donor restrictions | $15,563,980 |
| Net assets with donor restrictions | $3,173,512 |
| 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 | $21,930,121 |
Grants Awarded
Over the last fiscal year, Tennessee Golf Foundation has awarded $103,915 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
CONCORD PARKKNOX AREA JUNIOR GOLF ASSOC PURPOSE: PROGRAM SUPPORT | $30,352 |
TENNESSEE GOLF ASSOCIATION PURPOSE: PROGRAM SUPPORT | $6,000 |
TN SECTION PGA PURPOSE: PROGRAM SUPPORT | $15,000 |
UTC ATHLETICS PURPOSE: PROGRAM SUPPORT | $40,000 |
BEVERLY PARKKNOX AREA JUNIOR GOLF ASSOC PURPOSE: PROGRAM SUPPORT | $12,563 |