The Lpga Foundation
- Assets
- $8.3m
- Revenue
- $9.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Daytona Beach, FL
- Founding
- 05/1992
- Data as of
- 12/2022
- EIN
- 59-3085528
Organization Overview
The Lpga Foundation is located in Daytona Beach, FL. The organization was established in 1992. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lpga 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, Lpga Foundation generated $9.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $9.4m during the year ending 12/2022. While expenses have increased by 7.6% 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, Lpga Foundation has awarded 106 individual grants totaling $1,461,455. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO INSPIRE, EMPOWER AND TRANSFORM THE LIVES OF GIRLS AND WOMEN THROUGH THE GAME OF GOLF.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LPGA FOUNDATION IS INVOLVED IN CONDUCTING A TOURNAMENT ON THE LPGA TOURNAMENT SCHEDULE. THE GOLF TOURNAMENT IS OPERATED BY THE FOUNDATION AND FUNDED BY THE REVENUES RAISED THROUGH SPONSORSHIPS, PRO-AM EVENTS, HOSPITALITY, ADMISSION AND OTHER REVENUES.
DEVELOP AND MAINTAIN A FINANCIAL ASSISTANCE FUND FOR LPGA MEMBERS AND OTHER PERSONS IN THE GOLF INDUSTRY WHO MAY BE IN NEED OF FINANCIAL ASSISTANCE AS A RESULT OF A SERIOUS ILLNESS, INJURY, OR OTHER HARDSHIP. THERE WERE NO FINANCIAL ASSISTANCE FUND EXPENSES IN 2022.
DEVELOP AND MAINTAIN JUNIOR GOLF PROGRAMS ACROSS THE COUNTRY. THESE PROGRAMS ARE PRIMARILY FUNDED THROUGH CONTRIBUTIONS RECEIVED BY THE FOUNDATION.
DEVELOP AND MAINTAIN SCHOLARSHIP PROGRAMS WHICH PROVIDE SCHOLARSHIPS FOR JUNIOR GOLFERS BASED ON VARYING ELIGIBILITY CRITERIA, INCLUDING NEED-BASED AWARDS, AS WELL AS AWARDS TO ASSIST WITH INCREASING REPRESENTATION OF COMMUNITIES WHO HAVE TRADITIONALLY BEEN UNDERREPRESENTED IN GOLF.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mollie Marcoux Samaan Commissioner | Trustee | 5 | $0 |
Nancy Henderson President | OfficerTrustee | 20 | $0 |
Vicki Goetze-Ackerman Trustee | Trustee | 1 | $0 |
Erin Hamrick Chair | OfficerTrustee | 1 | $0 |
Louise Ball Trustee (as Of 01/2022) | Trustee | 1 | $0 |
Scott Mcmillen Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nbc Universal Tv/media Production | 12/30/22 | $499,999 |
Pro Em Event Operations | 12/30/22 | $161,289 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $341,775 |
| Related organizations | $725,722 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,913,533 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,981,030 |
| Total Program Service Revenue | $6,435,635 |
| Investment income | $131,158 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$118,395 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,429,428 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $823,050 |
| Grants and other assistance to domestic individuals. | $60,675 |
| Grants and other assistance to Foreign Orgs/Individuals | $35,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $611,778 |
| Pension plan accruals and contributions | $12,024 |
| Other employee benefits | $56,271 |
| Payroll taxes | $35,990 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,620 |
| Fees for services: Accounting | $73,939 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,000 |
| Fees for services: Other | $672,994 |
| Advertising and promotion | $162,329 |
| Office expenses | $20,331 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $60,185 |
| Travel | $139,775 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,196 |
| Insurance | $6,103 |
| All other expenses | $0 |
| Total functional expenses | $9,363,821 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,549,258 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $499,491 |
| 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 | $112,470 |
| Net Land, buildings, and equipment | $3,335 |
| Investments—publicly traded securities | $6,128,141 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,292,695 |
| Accounts payable and accrued expenses | $244,403 |
| Grants payable | $0 |
| Deferred revenue | $565,740 |
| 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 | $582,700 |
| Total liabilities | $1,392,843 |
| Net assets without donor restrictions | $2,400,806 |
| Net assets with donor restrictions | $4,499,046 |
| 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 | $8,292,695 |
Grants Awarded
Over the last fiscal year, The Lpga Foundation has awarded $440,205 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
CLEARVIEW LEGACY FOUNDATION PURPOSE: SCHOLARSHIP | $200,000 |
SCGA FOUNDATION PURPOSE: GIRLS GOLF SUPPORT | $25,575 |
GOLF FORE AFRICA PURPOSE: GENERAL DONATION | $25,000 |
THE JULI INKSTER FOUNDATION PURPOSE: GENERAL DONATION | $25,000 |
MORGAN PRESSEL FOUNDATION PURPOSE: GENERAL DONATION | $25,000 |
GIRLS GOLF OF AMERICA PURPOSE: GIRLS GOLF SUPPORT | $25,000 |