Friends Of Golf Inc
- Assets
- $1.3m
- Revenue
- $169.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Los Angeles, CA
- Founding
- 12/1981
- Data as of
- 06/2021
- EIN
- 95-3668541
Organization Overview
Friends Of Golf Inc is located in Los Angeles, CA. The organization was established in 1981. According to its NTEE Classification (N6A) the organization is classified as: Golf, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of Golf 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, Friends Of Golf Inc generated $169.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (23.0%) each year. All expenses for the organization totaled $228.1k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (13.1%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
RAISE MONEY FOR ORGANIZATIONS(PRIMARILY COLLEGES AND UNIVERSITIES) TO ASSIST THEM IN THE ESTABLISHMENT AND/OR MAINTENANCE OF GOLF PROGRAMS OR TO PROVIDE SCHOLARSHIPS TO STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PAYMENTS TO UNIVERSITIES FOR SUPPORT OF GOLF PROGRAMS. SEE SCHEDULE O.
PAYMENTS TO HIGH SCHOOLS FOR SUPPORT OF GOLF PROGRAMS. SEE SCHEDULE O.
PAYMENTS TO OTHER ORGANIZATIONS FOR SUPPORT OF GOLF PROGRAMS. SEE SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sal Cimbolo CEO | OfficerTrustee | 18 | $0 |
William L Harper Jr Treasurer | OfficerTrustee | 5 | $0 |
John Hoffman President | OfficerTrustee | 7 | $0 |
Peter Best Vice President | OfficerTrustee | 0 | $0 |
William Anderson Director | Trustee | 0 | $0 |
Michael F Baxter Director | Trustee | 0 | $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 | $296,390 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $296,390 |
| Total Program Service Revenue | $0 |
| Investment income | $49,723 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$176,533 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $169,580 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $178,550 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,039 |
| Fees for services: Other | $11,000 |
| Advertising and promotion | $2,107 |
| Office expenses | $10,722 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,595 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $828 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $9,272 |
| All other expenses | $0 |
| Total functional expenses | $228,113 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $309,357 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $918,057 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $25,000 |
| Total assets | $1,252,414 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,252,414 |
| 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 | $1,252,414 |
Grants Awarded
Over the last fiscal year, Friends Of Golf Inc has awarded $133,600 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
Los Angeles, CA PURPOSE: PAYMENTS TO UNIVERSITIES FOR SUPPORT OF GOLF PROGRAMS. | $32,500 |
SCGA YOUTH ON COURSE PURPOSE: PAYMENTS TO OTHER ORGANIZATIONS FOR SUPPORT OF GOLF PROGRAMS. | $25,000 |
CIF SOUTHERN SECTION PURPOSE: PAYMENTS TO HIGH SCHOOLS FOR SUPPORT OF GOLF PROGRAMS. | $23,500 |
CIF LOS ANGELES CITY SECTION PURPOSE: PAYMENTS TO HIGH SCHOOLS FOR SUPPORT OF GOLF PROGRAMS. | $15,000 |
Malibu, CA PURPOSE: PAYMENTS TO UNIVERSITIES FOR SUPPORT OF GOLF PROGRAMS. | $12,500 |
Glenview, IL PURPOSE: PAYMENTS TO OTHER ORGANIZATIONS FOR SUPPORT OF GOLF PROGRAMS. | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Friends Of Golf Inc has recieved totaling $12,500.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $12,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arizona Golf Community Foundation Scottsdale, AZ | $9,908,509 | $6,967,253 |
Lone Tree Golf & Event Center Antioch, CA | $6,167,701 | $5,409,436 |
Marrakesh Golf Club Palm Desert, CA | $20,662,505 | $5,001,903 |
Arizona Golf Association Scottsdale, AZ | $3,967,286 | $3,840,338 |
Pro Kids Golf Academy Inc San Diego, CA | $8,927,878 | $4,938,546 |
Presidio Golf And Concordia Club San Francisco, CA | $11,620,577 | $2,321,384 |
Future Citizens Foundation Salinas, CA | $8,194,762 | $5,447,969 |
Flagstaff Golf Association Flagstaff, AZ | $3,224,049 | $2,364,199 |
Golden State Golf Tour Association Oceanside, CA | $370,280 | $2,063,995 |
Bidwell Park Golf Club Chico, CA | $967,252 | $2,139,141 |
Junior Golf Association Of Arizona Inc Phoenix, AZ | $858,991 | $1,640,395 |
San Diego County Junior Golf Association Inc San Diego, CA | $1,536,640 | $1,591,808 |