Golf Charitable Foundation Of Greater Des Moines
- Assets
- $2.4m
- Revenue
- $13.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Des Moines, IA
- Founding
- 01/2017
- Data as of
- 07/2023
- EIN
- 81-2651226
Organization Overview
Golf Charitable Foundation Of Greater Des Moines, operating under the name The Principal Charity Classic, is located in Des Moines, IA. The organization was established in 2017. According to its NTEE Classification (T19) the organization is classified as: Support N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Principal Charity Classic 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 07/2023, Principal Charity Classic generated $13.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $13.6m during the year ending 07/2023. While expenses have increased by 5.2% per year over the past 6 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 2018, Principal Charity Classic has awarded 445 individual grants totaling $35,852,573. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ACT AS THE HOSTING CHARITY FOR THE ANNUAL PRINCIPAL CHARITY CLASSIC GOLF EVENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRINCIPAL CHARITY CLASSIC'S (PCC) OBJECTIVE IS TO RAISE FUNDS FOR IOWA CHARITIES PRIMARILY THROUGH DONATIONS AND SPONSORSHIP. THE PCC TOURNAMENT IS HELD ANNUALLY IN ORDER TO CONTRIBUTE TO THE ECONOMIC VITALITY AND QUALITY OF LIFE IN CENTRAL IOWA BY HEIGHTENING AWARENESS OF THE SELECTED CHARITABLE INSTITUTIONS AND PROVIDING ACCESS TO THE CULTURAL BENEFITS OF PROFESSIONAL LEVEL GOLF ACTIVITIES. EACH YEAR THE TOURNAMENT RAISES SIGNIFICANT FUNDS FROM PRIVATE CONTRIBUTIONS, SPONSORSHIPS, AND SALES OF TICKETS THAT ARE DISTRIBUTED TO LOCAL CHARITABLE ORGANIZATIONS. THESE CHARITABLE FUNDS ARE DISTRIBUTED THROUGH TWO MAIN PROGRAMS: BIRDIES FOR CHARITY AND TOURNAMENT CHARITY PARTNERS.
BIRDIES FOR CHARITY IS A PROGRAM DESIGNED TO PROVIDE FINANCIAL SUPPORT TO 501(C)(3) CHARITIES BENEFITING CHILDREN THROUGHOUT IOWA. DONORS MAY PLEDGE FUNDS TO A PARTICIPATING CHARITY AS A FLAT AMOUNT.
IN FISCAL YEAR 2023, TOURNAMENT CHARITY PARTNERS RECEIVED A TOTAL OF $410,000.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristi Knous Vice-Chair And Director | OfficerTrustee | 1 | $0 |
Ken Mccullum Chair And Director | OfficerTrustee | 10 | $0 |
Jo Christine Miles President And Director | OfficerTrustee | 1 | $0 |
Dan Houston Treasurer And Director | OfficerTrustee | 1 | $0 |
Tiffany Tauscheck Secretary And Director | OfficerTrustee | 1 | $0 |
Jim Adrianse Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Eventive Sports Properties Tourn Mgmt, Salaries /Benefits/taxes | 7/30/23 | $979,908 |
Wakonda Club Tournament Facility | 7/30/23 | $459,855 |
Inproduction Inc Tournament Structures/tents | 7/30/23 | $424,648 |
Par Caterers Tournament Food & Beverage | 7/30/23 | $221,568 |
Pro Em Operations Llc Tournament Structures/tents | 7/30/23 | $103,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $107,700 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,787,462 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,895,162 |
| Total Program Service Revenue | $6,769,398 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $28,995 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,693,555 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,972,498 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $979,908 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,533 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $100,424 |
| Office expenses | $127,359 |
| Information technology | $11,271 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $98,035 |
| Total functional expenses | $13,625,401 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,455,103 |
| Savings and temporary cash investments | $682,791 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $223,222 |
| 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 | $3,221 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,364,337 |
| Accounts payable and accrued expenses | $1,329,369 |
| Grants payable | $0 |
| Deferred revenue | $20,664 |
| 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 | $0 |
| Total liabilities | $1,350,033 |
| Net assets without donor restrictions | $1,014,304 |
| 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 | $2,364,337 |
Grants Awarded
Over the last fiscal year, Golf Charitable Foundation Of Greater Des Moines has awarded $6,888,261 in support to 79 organizations.
| Grant Recipient | Amount |
|---|---|
ADAPTIVE SPORTS IOWA PURPOSE: GENERAL OPERATIONS | $100,000 |
ASAP AFTER SCHOOL ARTS PROGRAM PURPOSE: GENERAL OPERATIONS | $100,000 |
AVENUE SCHOLARS IOWA PURPOSE: GENERAL OPERATIONS | $80,000 |
BALLET DES MOINES PURPOSE: GENERAL OPERATIONS | $101,000 |
BIG BROTHERS-BIG SISTERS OF CENTRAL IA PURPOSE: GENERAL OPERATIONS | $100,000 |
BLANK CHILDREN'S HOSPITAL PURPOSE: GENERAL OPERATIONS | $63,650 |