The Mickelson Foundation Inc
- Assets
- $3.4m
- Revenue
- $7.2m
- Investments
- $0.0
- Employees
- 0
- Location
- La Quinta, CA
- Founding
- Data as of
- 06/2021
- EIN
- 84-2411420
Organization Overview
The Mickelson Foundation Inc is located in La Quinta, CA. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, 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. Mickelson Foundation Inc 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 06/2021, Mickelson Foundation Inc generated $7.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (27.9%) each year. All expenses for the organization totaled $7.2m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (27.8%) per year over the past 2 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Mickelson Foundation Inc has awarded 82 individual grants totaling $4,087,500. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
IN PARTNERSHIP WITH THE PGA TOUR, TO RAISE FUNDS THROUGH ITS OPERATION OF A PGA TOUR-SANCTIONED GOLF TOURNAMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATES A PGA TOUR-SANCTIONED GOLF TOURNAMENT WHICH WILL PROVIDE ASSISTANCE TO VARIOUS CHARITIES, INCLUDING ORGANIZATIONS IN THE COACHELLA VALLEY, CA AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Marzano Chairman | OfficerTrustee | 10 | $0 |
Gary Mcbride Former Vice Chairman | OfficerTrustee | 1 | $0 |
R Steve Loy Former Secretary | OfficerTrustee | 1 | $0 |
Robert Kain Director | Trustee | 1 | $0 |
Linda Evans Director | Trustee | 1 | $0 |
James Mccann Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,713,343 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,713,343 |
| Total Program Service Revenue | $3,452,292 |
| Investment income | $0 |
| 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 | $7,165,635 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,100,000 |
| 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 | $400,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $137,344 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $18,001 |
| Advertising and promotion | $54,881 |
| Office expenses | $18,770 |
| Information technology | $255 |
| Royalties | $0 |
| Occupancy | $12,490 |
| Travel | $94,995 |
| 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 | $10,000 |
| All other expenses | $0 |
| Total functional expenses | $7,165,635 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,501,306 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $858,840 |
| 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 | $0 |
| 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 | $3,360,146 |
| Accounts payable and accrued expenses | $234,208 |
| Grants payable | $1,000,000 |
| Deferred revenue | $2,091,505 |
| 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 | $3,325,713 |
| Net assets without donor restrictions | $34,433 |
| 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 | $3,360,146 |
Grants Awarded
Over the last fiscal year, The Mickelson Foundation Inc has awarded $1,087,500 in support to 34 organizations.
| Grant Recipient | Amount |
|---|---|
Montvale, NJ PURPOSE: Program Support | $100,000 |
Palm Desert, CA PURPOSE: Program Support | $75,000 |
Mecca, CA PURPOSE: Program Support | $75,000 |
Indio, CA PURPOSE: Program Support | $75,000 |
Indio, CA PURPOSE: Program Support | $70,000 |
Indio, CA PURPOSE: Program Support | $60,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that The Mickelson Foundation Inc has recieved totaling $675,000.
| Awarding Organization | Amount |
|---|---|
Pga Tour Inc Ponte Vedra Beach, FL PURPOSE: GENERAL SUPPORT | $625,000 |
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: COMMUNITY OUTREACH & ENRICHMENT PROGRAMS | $25,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Groundswell Fund San Francisco, CA | $42,239,063 | $24,343,616 |
Americas Best Local Charities San Rafael, CA | $3,431,052 | $16,765,664 |
Bill Hannon Foundation Los Angeles, CA | $17,238,236 | $4,285,811 |
It Is Written Inc Riverside, CA | $12,378,597 | $15,533,924 |
Friends Of Family Health Center La Habra, CA | $48,269,218 | $21,982,956 |
Family Assistance Ministries San Clemente, CA | $4,435,253 | $12,485,569 |
Hidaya Foundation Santa Clara, CA | $4,651,500 | $12,437,401 |
Hyundai Hope On Wheels Fountain Valley, CA | $12,616,829 | $14,561,310 |
Philanthropic Impact Fund Beverly Hills, CA | $0 | $3,313,525 |
Providence Little Company Of Mary Foundation Torrance, CA | $121,035,875 | $18,031,300 |
Cambodian Childrens Fund Santa Monica, CA | $27,120,483 | $15,367,074 |
Xavier College Preparatory High School Palm Desert, CA | $46,603,211 | $9,301,462 |