Pga Tour Inc is located in Ponte Vedra Beach, FL. The organization was established in 1977. 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 12/2018, Pga Tour Inc employed 939 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 12/2019, Pga Tour Inc generated $1.5b in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $1.5b during the year ending 12/2019. While expenses have increased by 4.2% per year over the past 5 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE SPORT OF PROFESSIONAL GOLF AND THE COMMON INTERESTS AND THE COMMON INTERESTS OF TOURING GOLF PROFESSIONALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRINCIPAL MISSION OF PGA TOUR, INC. IS THE PROMOTION OF THE SPORT OF PROFESSIONAL GOLF AND THE COMMON INTERESTS OF THE TOURING PROFESSIONAL GOLFER AS WELL AS GROWTH OF THE GAME. THIS IS PRIMARILY ACCOMPLISHED THROUGH MANAGING AND CO-SPONSORING PROFESSIONAL GOLF TOURNAMENTS, SECURING CORPORATE SPONSORSHIP OF TOURNAMENTS AND OTHER PROGRAMS, AND SECURING TELEVISION EXPOSURE FOR ITS PROFESSIONAL GOLF TOURNAMENTS. BY MANAGING AND CO-SPONSORING SIX DIFFERENT PROFESSIONAL GOLF TOURNAMENT DIVISIONS (PGA TOUR, PGA TOUR CHAMPIONS, KORN FERRY TOUR, PGA TOUR LATINOAMERICA, MACKENZIE TOUR-PGA TOUR CANADA, AND PGA TOUR SERIES-CHINA - COLLECTIVELY THE PGA TOUR), PGA TOUR, INC. PROVIDES OPPORTUNITIES FOR THE TOURING PROFESSIONAL GOLFER TO COMPETE AND EARN PRIZE MONEY AND BENEFITS WHILE GROWING THE GAME BY EXPOSING IT TO THE GENERAL PUBLIC THROUGH THEIR ATTENDANCE AND TELEVISION VIEWING. IN 2018, THE SIX TOURS COLLECTIVELY HELD 147 TOURNAMENTS. TOTAL PRIZE MONEY AND BENEFITS EARNED THROUGH COMPETITION BY PROFESSIONAL GOLFERS ACROSS THE SIX TOURS IN 2018 EXCEEDED $600 MILLION. THESE TOURNAMENTS WERE PLAYED IN AT LEAST 37 U.S. STATES AND 20 DIFFERENT COUNTRIES IN 2018, ALLOWING PEOPLE THROUGHOUT THE WORLD THE OPPORTUNITY TO EXPERIENCE FIRST-HAND THE SPORT OF PROFESSIONAL GOLF. PGA TOUR, INC. SECURES TELEVISION COVERAGE FOR ITS TOURNAMENTS THROUGH AGREEMENTS WITH NATIONAL AND INTERNATIONAL BROADCASTERS AND CABLE CHANNELS. IN 2018, PGA TOUR, INC. TELEVISION COVERAGE REACHED 227 COUNTRIES AND TERRITORIES AND IN 23 LANGUAGES. PGA TOUR, INC. AND THE LADIES PROFESSIONAL GOLF ASSOCIATION MAINTAIN A STRATEGIC ALLIANCE DESIGNED TO FURTHER PROMOTE THE GROWTH OF PROFESSIONAL GOLF INCLUDING AREAS SUCH AS SCHEDULE COORDINATION, JOINT MARKETING, TELEVISION REPRESENTATION, DIGITIAL MEDIA, AND THE POSSIBILITY OF FUTURE DEVELOPMENT OF JOINT EVENTS. IN ADDITION TO TELEVISION COVERAGE, THE PGA TOUR IS EMBRACING DIGITAL MEDIA ACROSS MULTIPLE PLATFORMS, INCLUDING A SUBSIDIARY'S WEBSITE, PGATOUR.COM. THE PGA TOUR CONTINUES TO GROW ITS PRESENCE ON SOCIAL MEDIA PLATFORMS SUCH AS FACEBOOK, INSTAGRAM, AND TWITTER THROUGH A SUBSIDIARY TO BRING THE PLAYERS CLOSER TO THE GENERAL PUBLIC, VOLUNTEERS, AND SPONSORS. IN 2018, TWITTER BROADCASTED MORE THAN 70 HOURS OF FREE EXCLUSIVE LIVE TOURNAMENT COVERAGE ACROSS MULTIPLE EVENTS TO BROADEN THE APPEAL OF GOLF TO YOUNGER VIEWERS. THE MISSION OF GROWING THE GAME OF GOLF IS ENHANCED THROUGH TELEVISION, CORPORATE SPONSORSHIPS AND THE PROMOTIONAL ACTIVITIES ASSOCIATED WITH PROMOTING THE SPORT OF PROFESSIONAL GOLF. PGA TOUR, INC. AND INTEL HAVE AN EXCLUSIVE RELATIONSHIP TO PRODUCE AND GLOBALLY DISTRIBUTE LIVE VIRTUAL REALITY AND LIVE 360 VIDEO AT VARIOUS PGA TOUR EVENTS. THE QUALIFIED SPONSORSHIP PAYMENTS RECEIVED BY PGA TOUR, INC., AS DEFINED IN INTERNAL REVENUE CODE SECTION 513(I), PROMOTE THE SPORT THROUGH FUNDS UTILIZED IN PART TO INCREASE PURSE AMOUNTS AND EARNINGS OPPORTUNITIES FOR PROFESSIONAL GOLFERS ON THE PGA TOUR, PGA TOUR CHAMPIONS, KORN FERRY TOUR, PGA TOUR LATINOAMERICA, MACKENZIE TOUR-PGA TOUR CANADA, AND PGA TOUR SERIES-CHINA IN PART TO ACHIEVE PGA TOUR, INC.'S GOAL OF GIVING BACK, AS SET FORTH IN PART III, LINE 4B.
IN ADDITION TO PROMOTING AND BUILDING THE SPORT OF PROFESSIONAL GOLF, PGA TOUR, INC. IS COMMITTED TO GENERATING SUBSTANTIAL CHARITABLE CONTRIBUTIONS IN THE COMMUNITIES WHERE ITS TOURNAMENTS ARE PLAYED, EVEN THOUGH PGA TOUR, INC. IS NOT A CHARITABLE IRC SECTION 501(C)(3) ORGANIZATION. A MAJORITY OF THE TOURNAMENTS ARE OPERATED BY CHARITABLE ORGANIZATIONS THAT GIVE 100% OF THE NET PROCEEDS FROM THE TOURNAMENT TO LOCAL CHARITIES. AREAS OF SUPPORT INCLUDE, BUT ARE NOT LIMITED TO: HEALTHCARE, EDUCATION, YOUTH DEVELOPMENT, DISASTER RELIEF, FOOD BANKS, MILITARY AND ENVIRONMENT. IN 2018, PGA TOUR, INC. AND ITS TOURNAMENTS GENERATED MORE THAN $190 MILLION OF CHARITABLE DONATIONS IN THE COMMUNITIES WHERE THE EVENTS WERE PLAYED, BENEFITTING MORE THAN 3,000 CHARITIES. INCLUDED IN THIS AMOUNT IS $43 MILLION OF DIRECT CONTRIBUTIONS MADE BY PGA TOUR, INC. THIS BRINGS PGA TOUR, INC.'S TOTAL CHARITABLE DONATIONS TO NEARLY $3 BILLION SINCE THE FIRST $10,000 CONTRIBUTION WAS MADE IN 1938. ALSO, A SUBSTANTIAL AMOUNT OF ADDITIONAL CHARITY DOLLARS ARE RAISED EACH YEAR BY PGA TOUR, INC. MEMBERS THROUGH THEIR INDIVIDUAL FOUNDATIONS AND FUNDRAISERS.
PGA TOUR, INC. INCLUDES, AS PART OF ITS MISSION STATEMENT, THE DEDICATION TO PROTECT THE INTEGRITY OF THE GAME OF PROFESSIONAL GOLF. THE TOURING PROFESSIONAL GOLFER HAS AN UNWAVERING ADHERENCE TO GOLF'S INHERENT VALUES, SUCH AS HONESTY, INTEGRITY, AND SPORTSMANSHIP. GOLF IS A SPORT IN WHICH PLAYERS CALL PENALTIES ON THEMSELVES, WHETHER AN INFRACTION IS VISIBLE TO OTHERS OR NOT. IT IS A SPORT IN WHICH COMPETITORS SHAKE HANDS AND CONGRATULATE ONE ANOTHER AT THE CONCLUSION OF EACH AND EVERY ROUND, TOURNAMENT OR MATCH, WITHOUT FAIL. IT IS ALSO A SPORT THAT FAITHFULLY TEACHES EACH GENERATION OF PARTICIPANTS FROM THE EARLIEST AGE THAT ITS RULES ARE UNCOMPROMISABLE. THESE ARE VALUES THAT PGA TOUR, INC.'S TOURING PROFESSIONAL GOLFERS LIVE BY AND DEMONSTRATE EVERY ROUND OF EVERY TOURNAMENT.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Moorhouse Edward L Fmr Sr Advisor - Office Of Com | 40 | $4,382,601 | |
Monahan Joseph W Commissioner | Officer | 40 | $4,372,910 |
Johnson Paul G Evp International Tours | 40 | $2,149,300 | |
Zink Charles Fmr Chairman, Presidents Cup | 40 | $1,602,226 | |
Price Ronald E Chief Operating Officer | Officer | 40 | $1,441,897 |
Wade Thomas E Chief Commercial Officer | Officer | 40 | $1,437,355 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Shaffer Sports Events Construction Service | 12/30/18 | $18,529,696 |
Justin Rose Enterprises Inc Player Earnings | 12/30/18 | $14,078,972 |
Dustin Johnson Enterprises Inc Player Earnings | 12/30/18 | $7,978,228 |
Justin Thomas Llc Player Earnings | 12/30/18 | $7,140,003 |
Bad Enterprises Inc Player Earnings | 12/30/18 | $10,620,611 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
Investment income | $102,782,755 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $224,061,902 |
Net Rental Income | $55,413 |
Net Gain/Loss on Asset Sales | $34,262,088 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $919,421 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,534,021,881 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $2,603,271 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $27,500,490 |
Compensation to disqualified persons | $1,505,161 |
Other salaries and wages | $94,266,037 |
Pension plan accruals and contributions | $1,204,463 |
Other employee benefits | $15,394,191 |
Payroll taxes | $6,621,053 |
Fees for services: Management | $0 |
Fees for services: Legal | $1,185,056 |
Fees for services: Accounting | $708,908 |
Fees for services: Lobbying | $1,552,668 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $1,340,503 |
Fees for services: Other | $569,932,842 |
Advertising and promotion | $32,708,453 |
Office expenses | $6,043,043 |
Information technology | $5,460,991 |
Royalties | $339,298 |
Occupancy | $5,531,166 |
Travel | $21,803,354 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $1,192,736 |
Interest | $5,405,200 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $16,730,092 |
Insurance | $2,142,729 |
All other expenses | $0 |
Total functional expenses | $1,461,249,307 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $8,553,942 |
Savings and temporary cash investments | $139,647,643 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $58,268,149 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $505,676,112 |
Inventories for sale or use | $243,606 |
Prepaid expenses and deferred charges | $26,378,478 |
Investments—publicly traded securities | $1,739,865,693 |
Investments—other securities | $705,123,082 |
Investments—program-related | $0 |
Intangible assets | $1,977,133 |
Other assets | $33,663,697 |
Total assets | $3,384,025,893 |
Accounts payable and accrued expenses | $179,217,907 |
Grants payable | $0 |
Deferred revenue | $220,947,286 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $33,750 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $122,431,656 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $1,627,299,170 |
Total liabilities | $2,149,896,019 |
Net assets without donor restrictions | $0 |
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 |
Total liabilities and net assets/fund balances | $1,234,129,874 |
Over the last fiscal year, Pga Tour Inc has awarded $40,628,320 in support to 377 organizations.
Grant Recipient | Amount |
---|---|
St Augustine, FL PURPOSE: General Support | $12,535,718 |
VARIOUS ACCRUALS PURPOSE: GENERAL SUPPORT | $3,008,122 |
Atlanta, GA PURPOSE: General Support | $2,590,700 |
Akron, OH PURPOSE: General Support | $1,446,094 |
Pleasanton, CA PURPOSE: General Support | $950,000 |
Roseville, CA PURPOSE: General Support | $770,000 |
Over the last fiscal year, we have identified 2 grants that Pga Tour Inc has recieved totaling $536.
Awarding Organization | Amount |
---|---|
Townebank Richmond Foundation Richmond, VA PURPOSE: CONTRIBUTION | $268 |
Townebank Richmond Foundation Richmond, VA PURPOSE: CONTRIBUTION | $268 |
Organization Name | Assets | Revenue |
---|---|---|
Ladies Professional Golf Assoc Daytona Beach, FL | $96,838,976 | $132,738,804 |
International Association Of Amusement Parks Orlando, FL | $38,769,880 | $29,247,710 |
Tampa Bay Bowl Association Inc Tampa, FL | $12,785,311 | $11,358,108 |
National Association Of Professional Baseball Leagues Inc St Petersburg, FL | $6,202,850 | $4,483,173 |
United States Professional Tennis Assoc Orlando, FL | $10,586,937 | $5,387,021 |
Professional Disc Golf Association Appling, GA | $3,437,142 | $4,810,091 |
National Golf Foundation Inc Jupiter, FL | $4,525,573 | $3,150,333 |
North Florida Section Professional Golfers Association Reunion, FL | $375,899 | $1,883,104 |
National Association Of Underwater Instructors Riverview, FL | $3,192,623 | $1,291,346 |
Central Florida Ice Hockey Officials Association Inc Lakeland, FL | $22,042 | $776,333 |
Professional Baseball Athletic Trainers Society Atlanta, GA | $1,927,954 | $769,255 |
Gladiators Athletic Association Inc Johns Creek, GA | $417,614 | $511,104 |