The Lpga Foundation
- Assets
- $9.4m
- Revenue
- $8.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Daytona Beach, FL
- Founding
- 05/1992
- Data as of
- 12/2021
- EIN
- 59-3085528
Organization Overview
The Lpga Foundation is located in Daytona Beach, FL. The organization was established in 1992. According to its NTEE Classification (N11) the organization is classified as: Single Organization Support, 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. Lpga Foundation 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, Lpga Foundation generated $8.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $9.1m during the year ending 12/2021. While expenses have increased by 8.3% 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 2014, Lpga Foundation has awarded 86 individual grants totaling $1,021,250. 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
TO INSPIRE, EMPOWER AND TRANSFORM THE LIVES OF GIRLS AND WOMEN THROUGH THE GAME OF GOLF.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOP AND MAINTAIN JUNIOR GOLF PROGRAMS ACROSS THE COUNTRY. THESE PROGRAMS ARE PRIMARILY FUNDED THROUGH CONTRIBUTIONS RECEIVED BY THE FOUNDATION.
THE LPGA FOUNDATION IS INVOLVED IN CONDUCTING A TOURNAMENT ON THE LPGA TOURNAMENT SCHEDULE. THE GOLF TOURNAMENT IS OPERATED BY THE FOUNDATION AND FUNDED BY THE REVENUES RAISED THROUGH SPONSORSHIPS, PRO-AM EVENTS, HOSPITALITY, ADMISSION AND OTHER REVENUES.
DEVELOP AND MAINTAIN A SCHOLARSHIP PROGRAM WHICH PROVIDES ACADEMIC SCHOLARSHIPS FOR JUNIOR GOLFERS.
DEVELOP AND MAINTAIN A FINANCIAL ASSISTANCE FUND FOR LPGA MEMBERS AND OTHER PERSONS IN THE GOLF INDUSTRY WHO MAY BE IN NEED OF FINANCIAL ASSISTANCE AS A RESULT OF A SERIOUS ILLNESS, INJURY, OR OTHER HARDSHIP. TOTAL EXPENSES WERE $5,000.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christina Zacamy Chair | OfficerTrustee | 1 | $0 |
Nancy Henderson President | OfficerTrustee | 20 | $0 |
Kathryn Milthorpe Treasurer | Officer | 10 | $0 |
Marian Moore Secretary | Officer | 10 | $0 |
Mollie Marcoux Samaan Commissioner (as Of 08/2021) | Trustee | 5 | $0 |
Erin Hamrick Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pro Em Llc Tournament Svcs | 12/30/19 | $167,964 |
Horseshoe Bay Resort Tournament Svcs | 12/30/19 | $152,200 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $278,666 |
| Related organizations | $848,456 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,075,069 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,202,191 |
| Total Program Service Revenue | $6,593,160 |
| Investment income | $216,946 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$86,000 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,926,297 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $549,038 |
| Grants and other assistance to domestic individuals. | $75,437 |
| 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 | $486,747 |
| Pension plan accruals and contributions | $13,684 |
| Other employee benefits | $55,373 |
| Payroll taxes | $33,593 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,921 |
| Fees for services: Accounting | $41,714 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $24,425 |
| Fees for services: Other | $734,066 |
| Advertising and promotion | $68,419 |
| Office expenses | $26,875 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $66,615 |
| Travel | $109,668 |
| 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 | $3,027 |
| Insurance | $5,513 |
| All other expenses | $0 |
| Total functional expenses | $9,104,703 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $840,529 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $967,677 |
| 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 | $65,687 |
| Net Land, buildings, and equipment | $4,973 |
| Investments—publicly traded securities | $7,473,795 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,352,661 |
| Accounts payable and accrued expenses | $989,671 |
| Grants payable | $0 |
| Deferred revenue | $52,360 |
| 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 | $1,042,031 |
| Net assets without donor restrictions | $2,504,321 |
| Net assets with donor restrictions | $5,806,309 |
| 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 | $9,352,661 |
Grants Awarded
Over the last fiscal year, The Lpga Foundation has awarded $344,825 in support to 18 organizations.
| Grant Recipient | Amount |
|---|---|
Green Bay, WI PURPOSE: SCHOLARSHIP | $192,500 |
Greensboro, NC PURPOSE: GIRLS GOLF SUPPORT | $30,000 |
Charlotte, NC PURPOSE: GIRLS GOLF SUPPORT | $11,500 |
Studio City, CA PURPOSE: GIRLS GOLF SUPPORT | $10,400 |
Wilmington, DE PURPOSE: SCHOLARSHIP | $10,000 |
Saint Augustine, FL PURPOSE: SCHOLARSHIP | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that The Lpga Foundation has recieved totaling $1,960,956.
| Awarding Organization | Amount |
|---|---|
Ladies Professional Golf Assoc Daytona Beach, FL PURPOSE: GENERAL SUPPORT | $948,456 |
United States Golf Association Liberty Corner, NJ PURPOSE: JUNIOR | $900,000 |
Masters Tournament Foundation Inc Augusta, GA PURPOSE: FOSTER SPORT OF GOLF | $100,000 |
New Jersey Golf Foundation Incorporated Bedminster, NJ PURPOSE: PROGRAM SUPPORT | $12,000 |
Sanjay And Durga Reddy Konda Foundation Jersey Village, TX PURPOSE: CHARITY | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Lpga Foundation Daytona Beach, FL | $9,352,661 | $8,926,297 |
American Junior Golf Foundation Inc Braselton, GA | $19,641,772 | $5,413,953 |
First Tee Of Atlanta Inc Atlanta, GA | $2,807,006 | $1,612,147 |
First Tee Of North Flordia Inc Saint Augustine, FL | $828,458 | $1,796,626 |
Alabama Shakespeare Festival Endowment Tr Montgomery, AL | $55,944,765 | $702,964 |
Atlanta Classic Foundation Inc Duluth, GA | $0 | $0 |
Reef Environmental Education Foundation Incorporated Key Largo, FL | $2,620,574 | $1,900,215 |
Special Olympics Florida Foundation Inc Clermont, FL | $9,976,679 | $223,527 |
Titan Club Inc Bogart, GA | $239,502 | $787,104 |
Friends Of Carrollwood Cultural Center Inc Tampa, FL | $7,203 | $802,379 |
Atlanta Memorial Park Conservancy Inc Atlanta, GA | $447,516 | $641,677 |
Uwg Athletic Foundation Inc Carrollton, GA | $1,342,635 | $930,738 |