Ladies Professional Golf Assoc
- Assets
- $102.8m
- Revenue
- $180.1m
- Investments
- $0.0
- Employees
- 169
- Location
- Daytona Beach, FL
- Founding
- 02/1971
- Data as of
- 12/2022
- EIN
- 75-0055465
Organization Overview
Ladies Professional Golf Assoc is located in Daytona Beach, FL. The organization was established in 1971. 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, Ladies Professional Golf Assoc employed 169 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ladies Professional Golf Assoc 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, Ladies Professional Golf Assoc generated $180.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $172.6m during the year ending 12/2022. While expenses have increased by 5.7% 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, Ladies Professional Golf Assoc has awarded 49 individual grants totaling $6,023,867. 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 PROMOTE WORLDWIDE INTEREST IN THE GAME OF WOMEN'S PROFESSIONAL GOLF.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LADIES PROFESSIONAL GOLF ASSOCIATION PROMOTES THE GLOBAL DEVELOPMENT OF WOMEN'S PROFESSIONAL GOLF THROUGH INSTRUCTIONAL AND PROFESSIONAL DEVELOPMENT PROGRAMS, AND THROUGH ITS SANCTIONING OF LPGA TOUR AND EPSON TOUR TOURNAMENTS, AND PROVIDING SUPPORT THROUGH ITS JOINT VENTURE RELATIONSHIP WITH THE LADIES EUROPEAN TOUR (LET).
THE LADIES PROFESSIONAL GOLF ASSOCIATION IS INVOLVED IN HOSTING A NUMBER OF TOURNAMENTS FOR ITS LPGA TEACHING PROFESSIONALS MEMBERSHIP INCLUDING A NATIONAL CHAMPIONSHIP, TEAM CLASSIC AND OTHER REGIONAL TOURNAMENTS, AS WELL AS HOSTING QUALIFYING TOURNAMENTS FOR INDIVIDUALS SEEKING LPGA AND EPSON TOUR MEMBERSHIP. THE LET ALSO HOSTS QUALIFYING TOURNAMENTS FOR THOSE SEEKING LET MEMBERSHIP.
THE LADIES PROFESSIONAL GOLF ASSOCIATION IS INVOLVED IN THE DEVELOPMENT OF A NUMBER OF EDUCATIONAL AND INSTRUCTIONAL PROGRAMS FOR ITS MEMBERS AND OTHERS IN THE GOLF INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lydia Ko Player/director | Trustee | 5 | $3,945,771 |
Mollie Marcoux Samaan Commissioner | OfficerTrustee | 36 | $985,494 |
Ally Ewing Player/director (as Of 1/22) | Trustee | 5 | $557,825 |
Stacy Lewis Player/director (as Of 1/22) | Trustee | 5 | $386,512 |
Vicki Goetze-Ackerman President/player/director | OfficerTrustee | 30 | $98,896 |
Alena Sharp Player/director | Trustee | 5 | $99,884 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nbc Universalgolf Channel Television Services | 12/30/22 | $23,250,618 |
Min Jee Lee Prize Winnings | 12/30/22 | $3,093,810 |
Outlyr Event Operations | 12/30/22 | $6,008,344 |
Igc Heritage Prize Winnings | 12/30/22 | $2,503,843 |
Brooke Henderson Prize Winnings | 12/30/22 | $2,263,370 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,990,000 |
| 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 | $1,990,000 |
| Total Program Service Revenue | $177,533,011 |
| Investment income | $626,730 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $180,149,741 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,063,780 |
| 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. | $9,596,238 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,094,503 |
| Pension plan accruals and contributions | $306,225 |
| Other employee benefits | $1,089,281 |
| Payroll taxes | $901,015 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,499,807 |
| Fees for services: Accounting | $237,764 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,275,700 |
| Advertising and promotion | $600,841 |
| Office expenses | $149,880 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $446,876 |
| Travel | $3,459,984 |
| 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 | $1,219,619 |
| Insurance | $763,362 |
| All other expenses | $4,572,857 |
| Total functional expenses | $172,556,499 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,446,375 |
| Savings and temporary cash investments | $46,098,330 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,309,409 |
| 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 | $1,236,175 |
| Net Land, buildings, and equipment | $3,674,748 |
| Investments—publicly traded securities | $33,889,931 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $916,574 |
| Other assets | $209,686 |
| Total assets | $102,781,228 |
| Accounts payable and accrued expenses | $16,780,426 |
| Grants payable | $0 |
| Deferred revenue | $22,606,006 |
| 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 | $34,099,617 |
| Total liabilities | $73,486,049 |
| Net assets without donor restrictions | $29,295,179 |
| 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 | $102,781,228 |
Grants Awarded
Over the last fiscal year, Ladies Professional Golf Assoc has awarded $1,063,780 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
UNITED WAY OF VOLUSIA COUNTY PURPOSE: GENERAL SUPPORT | $11,000 |
WORLD GOLF FOUNDATION PURPOSE: GENERAL SUPPORT | $150,000 |
FLORIDAS NATURAL GROWERS FOUNDATION PURPOSE: GENERAL SUPPORT | $15,000 |
JUNIOR GOLF ASSOCIATION OF ARIZONA PURPOSE: GENERAL SUPPORT | $35,000 |
FAIRWAYS TO LEADERSHIP PURPOSE: GENERAL SUPPORT | $10,000 |
THE LPGA FOUNDATION PURPOSE: GENERAL SUPPORT | $825,722 |