Caves Valley Golf Club Foundation Inc
- Assets
- $6.3m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Owings Mills, MD
- Founding
- 05/1995
- Data as of
- 12/2021
- EIN
- 52-1900251
Organization Overview
Caves Valley Golf Club Foundation Inc is located in Owings Mills, MD. The organization was established in 1995. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Caves Valley Golf Club 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 12/2021, Caves Valley Golf Club Foundation Inc generated $3.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 35.1% each year . All expenses for the organization totaled $802.8k during the year ending 12/2021. While expenses have increased by 8.2% per year over the past 7 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 2017, Caves Valley Golf Club Foundation Inc has awarded 18 individual grants totaling $2,580,250. 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
CAVES VALLEY GOLF CLUB FOUNDATION IS DEDICATED TO IMPROVING THE LIVES OF YOUNG PEOPLE THROUGH EXPOSURE TO GOLF'S CUSTOMS, TRADITIONS AND RULES OF FAIR PLAY. TO THIS END THE FOUNDATION SPONSORS A VARIETY OF ACTIVITIES TO: (I) INTRODUCE GOLF'S VALUES TO YOUNG PEOPLE ESPECIALLY THOSE WHO MIGHT OTHERWISE NEVER HAVE THIS OPPORTUNITY, (II) ASSIST CADDIES FURTHER THEIR FORMAL EDUCATION THROUGH COLLEGE SCHOLARSHIPS, AND (III) PARTNER WITH OTHER ORGANIZATIONS SIMILARLY FOCUSED ON MAKING A DIFFERENCE FOR YOUNG PEOPLE THROUGH THE GAME OF GOLF.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION HAS ESTABLISHED AN EDUCATIONAL SCHOLARSHIPPROGRAM FOR INDIVIDUALS PROVIDING SERVICES AS CADDIES AT CAVESVALLEY GOLF CLUB (CLUB) AND AT OTHER BALTIMORE METROPOLITAN AREAGOLF CLUBS. THE PURPOSE OF THE PROGRAM IS TO OFFER INDIVIDUALSPROVIDING SERVICES AS CADDIES THE OPPORTUNITY TO ACHIEVE THEIRHIGHER EDUCATION GOALS. THE PROGRAM AWARDS SCHOLARSHIPS BASEDON A SELECTIVE APPLICATION AND APPROVAL PROCESS. THE SCHOLARSHIPSPROVIDE FINANCIAL TUITION ASSISTANCE AND ARE RENEWED ANNUALLY, UPTO A MAXIMUM OF THREE (3) YEARS, PROVIDED ELIGIBILITY REQUIREMENTSCONTINUE TO BE MET.THE FOUNDATION ALSO OFFERS SCHOLARSHIPS (UMES SCHOLARSHIPS) WITHTHE UNIVERSITY OF MARYLAND EASTERN SHORE (UMES) TO ASSIST UMES TO RECRUIT AND RETAIN THE HIGHEST CALIBER STUDENTS FOR ENROLLMENT INUMES' PGA GOLF MANAGEMENT PROGRAM. THE UMES SCHOLARSHIPPROVIDES FINANCIAL ASSISTANCE COVERING THE COSTS OF TUITION, ROOMAND BOARD, BOOKS AND A LAPTOP DURING THE DURATION OF THE STUDENT'SPARTICIPATION IN THE PROGRAM, CONTINGENT UPON ELIGIBILITYREQUIREMENTS CONTINUING TO BE MET.
IN CONNECTION WITH CAVES VALLEY GOLF CLUB'S AGREEMENT WITH THE PGA TOUR AND THE WESTERN GOLF ASSOCIATION TO HOST THE 2021 BMW CHAMPIONSHIP, THE FOUNDATION HAS AGREED TO DONATE $2 MILLION TO THE EVANS SCHOLARS FOUNDATION TO SUPPORT THE EVANS SCHOLARS FOUNDATION AT THE UNIVERSITY OF MARYLAND, COLLEGE PARK AND THE CAVES VALLEY EVANS SCHOLARSHIP HOUSE AT THE UNIVERSITY OF MARYLAND, COLLEGE PARK. CAVES VALLEY GOLF CLUB HAS AGREED TO ASSIST THE FOUNDATION IN RAISING AT LEAST $1 MILLION OF THE $2 MILLION DONATION. THE DONATION IS CONTINGENT UPON THE 2021 BMW CHAMPIONSHIP BEING HELD AT CAVES VALLEY GOLF CLUB, WHICH IS SCHEDULED IN AUGUST 2021. THE DONATION WILL BE PAID IN FOUR INSTALLMENTS OF $500,000. THE FIRST INSTALLMENT WAS PAID ON AUGUST 1, 2020 AND THE LAST INSTALLMENT WILL BE PAID JUNE 30, 2023. SHOULD THE EVANS SCHOLARS FOUNDATION BE UNSUCCESSFUL AT ESTABLISHING A PROGRAM AND SCHOLARSHIP HOUSE AT THE UNIVERSITY OF MARYLAND, ANY AND ALL PAYMENTS RECEIVED BY THE EVANS SCHOLARS FOUNDATION FROM THE FOUNDATION PRIOR TO THE DATE OF THE DETERMINATION OF THE UNSUCCESSFUL PROGRAMS WILL BE USED TO FUND OTHER EVANS SCHOLARS FOUNDATION PROGRAMMING.
UNCONDITIONAL GRANTS MADE BY THE FOUNDATION TO FIRST TEE OF BALTIMORE, MARYLAND STATE GOLF ASSOCIATION, AMERICAN JUNIOR GOLF ASSOCIATION AND OTHER ORGANIZATIONS AS LISTED ON SCHEDULE I.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Stephen L Owen Secretary | OfficerTrustee | 1 | $0 |
Mr Gary L Attman Chairman | OfficerTrustee | 1 | $0 |
Ms Brenda Jews Treasurer | OfficerTrustee | 1 | $0 |
Mr Theo C Rodgers President | OfficerTrustee | 1 | $0 |
Mr Lawrence Moody Trustee | Trustee | 1 | $0 |
Mr Scott E Dorsey Trustee | 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 | $2,950,254 |
| Noncash contributions included in lines 1a–1f | $105,254 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,950,254 |
| Total Program Service Revenue | $0 |
| Investment income | $33,146 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $158,813 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,142,213 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $656,000 |
| Grants and other assistance to domestic individuals. | $109,725 |
| 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 | $3,891 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,061 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,175 |
| Office expenses | $13,956 |
| Information technology | $0 |
| 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 | $0 |
| Total functional expenses | $802,808 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $810,808 |
| Savings and temporary cash investments | $53,102 |
| Pledges and grants receivable | $2,115,000 |
| 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 | $3,311,995 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,715 |
| Total assets | $6,293,620 |
| Accounts payable and accrued expenses | $15,545 |
| 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 | $15,545 |
| Net assets without donor restrictions | $5,448,075 |
| Net assets with donor restrictions | $830,000 |
| 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 | $6,293,620 |
Grants Awarded
Over the last fiscal year, Caves Valley Golf Club Foundation Inc has awarded $653,500 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Glenview, IL PURPOSE: CV EVANS SCHOLARS HOUSE | $501,000 |
Hunt Valley, MD PURPOSE: $100,000 GRANT FOR OPERATING SUPPORT | $100,000 |
Lutherville, MD PURPOSE: $15,000 SUPPORT FOR JUNIOR GIRLS GOLF PROGRAM AND $25,000 SUPPORT FOR YOUTH ON COURSE PROGRAM | $40,000 |
Braselton, GA PURPOSE: $10,000 SUPPORT FOR ACE PROGRAM AND $2,500 SUPPORT FOR DONATION | $12,500 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Caves Valley Golf Club Foundation Inc has recieved totaling $155,000.
| Awarding Organization | Amount |
|---|---|
Davis Family Foundation Hanover, MD PURPOSE: GENERAL USE | $100,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $15,000 |
The Bessemer Giving Fund Woodbridge, NJ PURPOSE: GENERAL SUPPORT | $10,000 |
Baltimore Community Foundation Inc Baltimore, MD PURPOSE: GENERAL SUPPORT AND VARIOUS PROJECTS | $10,000 |
James S And Gail P Riepe Charitable Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $5,000 |
Warnock Family Foundation Inc Baltimore, MD PURPOSE: UNRESTRICTED | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Thurgood Marshall College Fund Inc Washington, DC | $121,810,471 | $98,266,975 |
Business Leadership Organized For Catholic Schools King Of Prussia, PA | $82,544,630 | $55,644,917 |
Breakthrough Prize Foundation Washington, DC | $10,581,357 | $48,295,695 |
Central Pennsylvania Scholarship Fund Tyrone, PA | $42,508,819 | $45,167,381 |
Virginia Student Aid Foundation Charlottesville, VA | $165,530,915 | $45,876,846 |
Foundation For Advanced Education In The Sciences Inc Bethesda, MD | $54,757,501 | $41,367,941 |
Horatio Alger Association Of Distinguished Americans Inc Alexandria, VA | $58,355,936 | $27,092,429 |
Somerset Community Services Inc Marion Station, MD | $23,511,474 | $20,221,070 |
American Association Of University Women Inc Washington, DC | $138,843,361 | $18,528,803 |
Cigna Foundation Philadelphia, PA | $165,016,072 | $8,084,237 |
James Madison University Foundation Inc Harrisonburg, VA | $191,139,680 | $18,508,438 |
Indian Paintbrush Foundation Washington, DC | $2,617,521,485 | $1,521,981,843 |