2025-08-01T10:32:46-05:00 2024-10-31 420714325 RSM US LLP 919 EAST MAIN STREET SUITE 1800 RICHMOND VA 23219 990 2023-11-01 521642692 THE CLUB FOUNDATION CLUB 7037399500 1733 KING STREET ALEXANDRIA VA 22314 JASON TATE CHIEF FINANCIAL OFFICER 7037399500 2025-07-31 1 0 MEREDITH BELL P01696827 8042822121 2025-07-31 2023 2025-03-06 01:10:19Z JEFFREY D MORGAN 1733 KING STREET ALEXANDRIA VA 22314 3769075 0 X WWW.CLUBFOUNDATION.ORG X 1988 DC THE CLUB FOUNDATION WAS FORMED FOR CHARITABLE AND EDUCATIONAL PURPOSES TO FOSTER INTELLECTUAL EXCELLENCE IN THE FIELD OF CLUB MANAGEMENT. THIS PURPOSE IS ACHIEVED BY AWARDING SCHOLARSHIPS OR RESEARCH GRANTS TO INDIVIDUALS AND BY MAKING GIFTS OR CONTRIBUTIONS. 17 16 0 16 0 0 480155 533299 0 0 129118 107667 2013 -1287 611286 639679 277761 312215 0 0 0 0 0 0 115582 231369 245751 509130 557966 102156 81713 5237386 6180671 1749 0 5235637 6180671 X THE CLUB FOUNDATION WAS FORMED FOR CHARITABLE AND EDUCATIONAL PURPOSES TO FOSTER INTELLECTUAL EXCELLENCE IN THE FIELD OF CLUB MANAGEMENT. THIS PURPOSE IS ACHIEVED BY AWARDING SCHOLARSHIPS OR RESEARCH GRANTS TO INDIVIDUALS AND BY MAKING GIFTS OR CONTRIBUTIONS. THE FOUNDATION'S MISSION IS TO SUPPORT THE ADVANCEMENT OF THE CLUB MANAGEMENT PROFESSION THROUGH FUNDING OF EDUCATIONAL AND TRAINING OPPORTUNITIES FOR CLUB MANAGERS AND STUDENTS AND TO SERVE AS A VEHICLE TO COORDINATE AND DISSEMINATE INFORMATION OF MUTUAL INTEREST TO PRIVATE CLUBS, RESTAURANTS, HOTELS AND OTHER SECTORS OF THE GOLF, AND HOSPITALITY INDUSTRIES. 0 0 381564 312215 AWARDED SCHOLARSHIPS AND GRANTS TO EDUCATIONAL INSTITUTIONS, STUDENTS AND FACULTY FOR THE PURPOSE OF STUDY AND RESEARCH IN THE FIELD OF CLUB MANAGEMENT. 381564 1 1 0 0 0 0 0 0 0 1 0 1 0 0 0 0 1 1 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 2 0 1 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 17 16 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AL AK AR CA CT FL GA IL KS KY ME MD MA MI MN MS NV NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI X JASON TATE CPA 7037399500 1733 KING STREET ALEXANDRIA VA 22314 JEFFREY D MORGAN FASAE CAE PRESIDENT 5.00 35.00 X X 0 628768 78089 NICHOLAS J LAROCCA CHAIRMAN 2.00 0.00 X X 0 0 0 LUANN GIOVANNELLI CCM CAM VICE CHAIRMAN 2.00 0.00 X X 0 0 0 RANDY RUDER CCM CCE SECRETARY 2.00 0.00 X X 0 0 0 TODD MARSH CCM CCE TREASURER 2.00 0.00 X X 0 0 0 MICHAEL SEABROOK CCM CCE DIRECTOR 2.00 2.00 X 0 0 0 JOE OSWALD DIRECTOR 2.00 0.00 X 0 0 0 FRED PALMER JR DIRECTOR 2.00 0.00 X 0 0 0 ADAM HARRIS DIRECTOR 2.00 0.00 X 0 0 0 JANINE BUDZIUS CCM CCE DIRECTOR 2.00 2.00 X 0 0 0 TERRA S H WALDRON CCM CCE DIRECTOR 2.00 0.00 X 0 0 0 JOE MENDEZ CCM CCE DIRECTOR 2.00 2.00 X 0 0 0 CHEIKHOU DIAGNE DIRECTOR 2.00 0.00 X 0 0 0 RICHARD LAROCCA CCM CCE DIRECTOR 2.00 2.00 X 0 0 0 BLAINE BURGESS CCM CCE DIRECTOR 2.00 0.00 X 0 0 0 KELLY WILLIAMS CCM DIRECTOR 2.00 0.00 X 0 0 0 SUSAN SCHENKEL CCM CCE DIRECTOR 2.00 0.00 X 0 0 0 JASON TATE CFO 5.00 32.50 X 0 234945 27386 0 863713 105475 0 0 1 0 CLUB MANAGEMENT ASSOCIATION OF AMERICA 1733 KING STREET ALEXANDRIA VA 22314 MANAGEMENT SERVICES 120000 1 30500 178792 324007 533299 137944 137944 3039671 3069948 -30277 -30277 -30277 58161 30500 59448 -1287 -1287 639679 0 0 106380 X 126415 126415 185800 185800 120000 36000 24000 60000 19200 5760 3840 9600 14587 14587 57133 17140 11427 28566 OTHER EXPENSES 34831 10449 6966 17416 557966 381564 60820 115582 66063 57837 16562 413579 280472 27754 5013 1444247 864957 3082620 4814213 186561 158179 5237386 6180671 1000 749 1749 0 X 3141062 3917526 2094575 2263145 5235637 6180671 5237386 6180671 81713 863321 0 X X 0 1 X 1 0 X 394818 601656 982456 480155 533299 2992384 394818 601656 982456 480155 533299 2992384 843137 2149247 91403 74248 159297 171398 137944 634290 29367 44278 47645 58161 179451 3806125 0.56470 0.66350 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2019 AMOUNT: $ 29,367. 2021 AMOUNT: $ 44,278. 2022 AMOUNT: $ 47,645. 2023 AMOUNT: $ 58,161. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1417824 235773 68840 1584757 1443265 43399 68840 1417824 1755206 -243100 68841 1443265 1603166 220880 68840 1755206 1590676 31850 19360 1603166 0.86880 0.13120 0 0 0 193551.60-AB GLOBAL BOND (ANAYX) 1333571 F 2291-ISHARES CORE S&P 500 ETF (IVV) 1308711 F 5208-ISHARES TR CORE MSCI (IXUS) 361227 F 119006.91-BERNSTEIN INTERM (SNIDX) 1338828 F 26841.65-AB CAP FD INC (GCEYX) 471876 F 4814213 1674087 863321 126226 989547 684540 14587 -59448 -44861 639679 729053 126226 59448 185674 543379 14587 14587 557966 PART V, LINE 4: THE INTENDED USE OF THE ORGANIZATION'S ENDOWMENT FUNDS IS TO RAISE FUNDS FOR EDUCATION, RESEARCH PROGRAMS, SCHOLARSHIPS, AND INTERNSHIPS. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES REPORTED IN PART VIII LINE 8B -59,448. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES REPORTED IN PART VIII LINE 8B 59,448. GOLF TOURNAMENT 70292 24000 46292 46965 FUN RUN 18369 6500 11869 12483 88661 30500 58161 59448 59448 -1287 1 TEE IT UP FOR THE TROOPS 515 WEST TRAVELERS TRAIL BURNSVILLE MN 55377 202974507 501(C)(3) 20000 0 TROOPS REUNION AND TOURNMENT GRANT CLUB MANAGEMENT ASSOCIATION OF AMERICA 1733 KING STREET ALEXANDRIA VA 22314 530235732 501(C)(6) 76415 0 SUPPORT STUDENTS SEMINOLE REGION CHARITY GOLF TOURNAMENT INC 7201 ADDISON RESERVE BLVD DELRAY BEACH FL 334462340 204993916 501(C)(3) 10000 0 HURRICANE AND FLOOD RELIEF CAROLINAS CLUB FOUNDATION 102 COLLEGE STATION DR SUITE 3 PMB 135 BREVARD NC 28712 331097516 501(C)(3) 10000 0 HURRICANE AND FLOOD RELIEF CLUB MANAGERS ASSOCIATION OF AMERICA - GEORGIA CHAPTER 1205 JOHNSON FERRY RD STE 136-460 MARIETTA GA 30068 582180904 501(C)(6) 10000 0 HURRICANE AND FLOOD RELIEF 3 2 STUDENT SCHOLARSHIPS 34 57500 FACULTY AND MANAGER SCHOLARSHIPS 89 89550 CMAA CHAPTER AWARDS 46 38750 PART I, LINE 2: THE ORGANIZATION REQUIRES ANYONE INTERESTED IN APPLYING FOR A GRANT TO SUBMIT A GRANT REQUEST WHICH INCLUDES AMOUNT, PURPOSE, ORGANIZATION'S MISSION, ETC. GRANTS ARE APPROVED ULTIMATELY BY THE CLUB FOUNDATION BOARD OF GOVERNORS THROUGH OUR BUDGETING PROCESS. IN SOME CASES, CERTAIN SPECIFIC GRANT DECISIONS ARE HANDLED VIA COMMITTEES SUCH AS THE ALLOCATION COMMITTEE. THE BOARD OF GOVERNORS DECIDES THE AMOUNTS ALLOCATED TO SPECIFIC GRANT PROGRAMS AND ALLOWS THE CERTAIN COMMITTEES TO PICK SPECIFIC GRANT APPLICATIONS. ONCE A GRANT IS APPROVED AND FUNDED, THE CLUB FOUNDATION SENDS A GRANTEE FORM TO THE RECIPIENT SIMULTANEOUSLY WITH THE FUNDS. THIS FORM IS TO BE SUBMITTED TO THE FOUNDATION BY THE RECIPIENT STATE THAT THE FUNDS WERE USED FOR THE PURPOSE(S) STATED ON THE GRANT REQUEST. IF THE PURPOSE OF THE GRANT HAS CHANGED, THE FOUNDATION HAS PROCEDURES IN PLACE TO ADJUST WITH THESE CONDITIONS: 1) IF THE GRANT IS WITHIN A SPECIFIED AMOUNT, THE CLUB FOUNDATION'S BOARD OF GOVERNORS HAS AUTHORIZED SENIOR MANAGEMENT TO REALLOCATE THESE FUNDS AND COMMUNICATE THIS BACK TO THE BOARD AT ITS NEXT MEETING, AND 2) IF THE GRANT EXCEEDS THIS PREDETERMINED LIMIT, IT WILL BE TAKEN BACK TO THE BOARD FOR CONSIDERATION. 0 1 0 0 0 0 0 0 0 JEFFREY D MORGAN FASAE CAE PRESIDENT 0 497630 0 128750 0 2388 0 63150 0 22939 0 714857 0 0 JASON TATE CFO 0 210971 0 22000 0 1974 0 15047 0 12339 0 262331 0 0 PART I, LINE 3 COMPENSATION SHOWN IN PART VII OF THE FORM 990, AND SCHEDULE J, PAGE 2, PART II, IS PAID BY A RELATED ORGANIZATION OF THE CLUB FOUNDATION, THE CLUB MANAGEMENT ASSOCIATION OF AMERICA. THE COMPENSATION DETERMINATION METHODOLOGY OF THE CLUB MANAGEMENT ASSOCIATION OF AMERICA, IS AS FOLLOWS: ANNUALLY A DOCUMENT IS PREPARED FOR THE EXECUTIVE COMMITTEE DETAILING THE CEO COMPENSATION. THIS INCLUDES HISTORICAL DATA, MARKET DATA, COMPARISON TO INDUSTRY SURVEYS (I.E. ASAE) AND COPIES OF THE PREVIOUS EXECUTIVE COMMITTEE EVALUATIONS IN WRITING. THE EXECUTIVE COMMITTEE COLLECTIVELY APPROVES THE CEO SALARY AND DOCUMENTS THEIR EVALUATION, AND THEN SHARES WITH THE FULL BOARD. A COMPENSATION STUDY WAS CONDUCTED ON OCTOBER 2023. PART I, LINE 4B PRESIDENT JEFFREY MORGAN SERVED AS THE CEO OF THE CLUB MANAGEMENT ASSOCIATION OF AMERICA (CMAA), A RELATED ORGANIZATION, DURING THE TAX YEAR ENDED 10/31/24. HE ALSO SERVED AS THE PRESIDENT OF THE CLUB FOUNDATION BUT RECEIVED ALL COMPENSATION FROM CMAA. DURING THE FISCAL YEAR, JEFFREY MORGAN PARTICIPATED IN A DEFERRED COMPENSATION PLAN UNDER IRC SECTION 457(F) AND $25,000 WAS CONTRIBUTED ON HIS BEHALF. FORM 990, PART VI, SECTION A, LINE 3 CMAA PROVIDES BUDGETING AND FINANCIAL OPERATIONAL MANAGEMENT TO THE CLUB FOUNDATION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE CFO OF CMAA AND THE CLUB FOUNDATION PRESIDENT. THE FINAL RETURN IS CIRCULATED TO THE BOARD OF GOVERNORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION MONITORS CONFLICTS OF INTERESTS THROUGH ANNUAL QUESTIONNAIRES DISTRIBUTED TO EACH MEMBER OF THE GOVERNING BODY. CONFLICTS OF INTEREST ARE BROUGHT TO THE BOARD'S ATTENTION AT THE NEXT BOARD MEETING AFTER THE RECOGNITION OF THE CONFLICT BY THE INDIVIDUAL. AFTER ANY POSSIBLE CONFLICT OF INTEREST HAS BEEN DISCLOSED, THE BOARD MEMBER REFRAINS FROM VOTING ON ANY MATTER THAT MAY BE PERCEIVED AS A CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE CEO OF CLUB MANAGEMENT ASSOCIATION OF AMERICA (CMAA) SERVES AS THE PRESIDENT OF THE CLUB FOUNDATION. AS SUCH, HE IS AN EMPLOYEE OF CMAA AND THEIR COMPENSATION IS DETERMINED BY THE EXECUTIVE COMMITTEE'S COMPARISON OF SIMILAR ORGANIZATIONS. THE PRESIDENT COMPLETES EVALUATIONS OF THE OTHER OFFICERS AND COMMUNICATES THE DETAILS TO THE EXECUTIVE COMMITTEE. THE PRESIDENT'S COMPENSATION WAS LAST REVIEWED IN OCTOBER 2023. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY OF THE ORGANIZATION ARE AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). THE AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 17,140. MANAGEMENT AND GENERAL EXPENSES 11,427. FUNDRAISING EXPENSES 28,566. TOTAL EXPENSES 57,133. FORM 990, PART XII, LINE 2C: THE CLUB FOUNDATION DID NOT CHANGE THE OVERSIGHT OR SELECTION PROCESS FROM THE PRIOR YEAR. CLUB MANAGEMENT ASSOCIATION OF AMERICA 1733 KING STREET ALEXANDRIA VA 22314 530235732 PROFESSIONAL ASSOCIATION DC 501(C)(6) N/A 0 0 1 1 0 1 0 0 0 0 0 0 0 1 1 1 1 0 0 0 CLUB MANAGEMENT ASSOCIATION OF AMERICA B 76415 CASH CLUB MANAGEMENT ASSOCIATION OF AMERICA C 178792 CASH CLUB MANAGEMENT ASSOCIATION OF AMERICA M 120000 FMV