Nonprofit · EIN 59-2998925
WORLD GOLF FOUNDATION INC
Tax-exempt · PONTE VEDRA, FL 32082
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | -$3,259,947 | $6,788,017 | -$10,047,964 | $9,141,095 | $1,311,535 | $7,829,560 |
| December 31, 2023 | 990 | $10,867,139 | $9,945,264 | $921,875 | $18,876,644 | $1,193,800 | $17,682,844 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $3,022,541
- Program service revenue
- $90,180
- Investment income
- -$7,621,152
- Royalties
- $55,908
- Net rental income
- $48,245
- Net gain from sales of assets
- -$8,069,717
- Net income from fundraising events
- -$48,946
- Net income from sales of inventory
- $1,190,776
- Other revenue
- $1,248,484
Expenses
- Grants and similar amounts paid
- $700,000
- Compensation of officers, directors and key employees
- $464,273
- Other salaries and wages
- $994,610
- Salaries, compensation and benefits (total)
- $1,707,172
- Professional fundraising fees
- $0
- Legal fees
- $57,534
- Accounting fees
- $80,777
- Occupancy
- $894,029
- Travel
- $41,336
- Depreciation
- $319,150
- Program services (functional)
- $5,602,701
- Management and general (functional)
- $961,341
- Fundraising (functional)
- $223,975
Balance sheet and other
- Total assets, start of year
- $18,876,644
- Total assets, end of year
- $9,141,095
- Total liabilities, end of year
- $1,311,535
- Net assets, end of year
- $7,829,560
- Land, buildings and equipment
- $433,890
- Publicly traded securities
- $6,415,296
- Net assets without donor restrictions
- $5,462,039
- Net assets with donor restrictions
- $2,367,521
- Gross unrelated business income
- $66,892
- Gross receipts
- $7,486,371
- Employees
- 21
- Volunteers
- 0
- Year formed
- 1989
- State of legal domicile
- FL
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| GREGORY T MCLAUGHLIN | PRESIDENT/CEO Officer | 20 | $398,202 | $0 |
| HERB CAIN | FACILITIES DIR (THRU 06/30) Highest-paid employee | 40 | $190,801 | $7,298 |
| ANDREW YEAST | SR. DIR., INDUSTRY ENGAGEMENT Highest-paid employee | 40 | $121,580 | $13,899 |
| JESS MUNROE | SR. DIR., GUEST SERVICES OPS Highest-paid employee | 40 | $118,488 | $13,764 |
| DIANE TETSWORTH | SECRETARY Officer | 10 | $61,835 | $4,236 |
| JAY MONAHAN | DIRECTOR/CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| MICHAEL WHAN | DIRECTOR/TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| SETH WAUGH | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MOLLIE MARCOUX SAMAAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARTIN SLUMBERS | DIRECTOR (THRU 09/25) Trustee or director | 1 | $0 | $0 |
| E WILLIAM JONES JR | DIRECTOR (THRU 09/25) Trustee or director | 1 | $0 | $0 |
| RHETT EVANS | DIRECTOR (THRU 09/25) Trustee or director | 1 | $0 | $0 |
| KEITH PELLEY | DIRECTOR (THRU 04/10) Trustee or director | 1 | $0 | $0 |
| GUY KINNINGS | DIRECTOR (04/10 THRU 09/25) Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 13 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| GREGORY T MCLAUGHLIN | PRESIDENT/CHIEF EXEC OFFICER Trustee or director, Officer | 40 | $340,764 | $0 |
| HERB CAIN | Facilities Director Highest-paid employee | 40 | $118,160 | $12,934 |
| Andrew Yeast | Sr. Dir, Industry Engagement Highest-paid employee | 40 | $102,101 | $5,397 |
| Jess Munroe | Sr. Dir, Guest Services Ops Highest-paid employee | 40 | $94,265 | $9,193 |
| JAY MONAHAN | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| MARTIN SLUMBERS | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| SETH WAUGH | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MOLLIE MARCOUX SAMAAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| E WILLIAM JONES JR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KEITH PELLEY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL P WHAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| RHETT EVANS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| Diane Tetsworth | Secretary Officer | 10 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1 PGA TOUR BLVD, PONTE VEDRA, FL 32082-2826
- In care of
- % BRIDGET RUSNAK
- Principal officer (990 for 2024)
- GREGORY MCLAUGHLIN, 1 PGA TOUR BLVD, PONTE VEDRA BEACH, FL 32082
- Signed the 990
- GREGORY MCLAUGHLIN, PRESIDENT/CEO
- Phone
- (904) 940-4000
- Website
- WORLDGOLFFOUNDATION.ORG
- Return prepared by
- GRANT THORNTON ADVISORS LLC
Mission
TO UNITE THE GOLF INDUSTRY AROUND INITIATIVES THAT PROMOTE, ENHANCE THE GROWTH OF AND PROVIDE ACCESS TO THE GAME WORLDWIDE, WHILE PRESERVING GOLF'S TRADITIONAL VALUES AND PASSING THEM ON TO OTHERS. IT ACCOMPLISHES ITS MISSION THROUGH: 1. AMERICAN GOLF INDUSTRY COALITION UNITES AND ACTIVATES THE GOLF INDUSTRY AROUND KEY STRATEGIC INITIATIVES THAT INCREASE PARTICIPATION AND RETENTION OF PARTICIPANTS, INSPIRE INVOLVEMENT AND INTEREST IN THE GAME, AND PROMOTE SUSTAINABLE BEST PRACTICES FOR GOLF FACILITIES. FURTHER, THE COALITION RENDERS SUPPORT AND ASSISTANCE BY MEANS OF CONTRIBUTIONS AND GRANTS TO EXEMPT ORGANIZATIONS ESTABLISHED TO DIVERSIFY THE SPORT OF GOLF AND SUPPORT ENVIRONMENTAL AND SUSTAINABILITY INITIATIVES. 2. WORLD GOLF HALL OF FAME CELEBRATES GOLF AND PRESERVES THE LEGACIES OF THOSE WHO HAVE MADE IT GREAT.
Program accomplishments
- World Golf Foundation, Inc. (the "Foundation"), which is supported by major international golf organizations and professional tours, oversaw the World Golf Hall of Fame & MUSEUM (4a) and continues to oversee the American Golf Industry Coalition (4b) and other nonprofit components. The Foundation works to promote growth of the game of golf among adults, youth, and minorities as well as in the golf industry. The World Golf Hall of Fame & MUSEUM provided visitors an opportunity to learn about the rich history, values, and deeply rooted traditions of the game through interactive exhibits, unique storytelling and a compelling guest experience. It also conducted a biennial induction ceremony to enshrine the game's greatest players and contributors. Enshrinement can include both male and female professional players, accomplished amateurs, and individuals who have made substantial contributions to the game outside of the competitive arena. The Hall of Fame & Museum closed its physical presence in St. Augustine, Florida, to the public as of September 2023. The Foundation deaccessioned Hall of Fame artifacts following the closure of the Hall of Fame & Museum. A portion of the deaccessioned artifacts were transferred to the USGA Foundation in 2024 to promote continued public access.Expenses $3,697,783 · revenue $23,288
- The American Golf Industry Coalition's mission is to unite and activate the golf industry around key strategic initiatives that increase participation and retention of participants, inspire involvement and interest in the game, and promote the sustainable best practices for golf facilities. One of American Golf Industry Coalition's major initiatives has been a comprehensive analysis of golf's significant contributions to the U.S. economy. American Golf Industry Coalition, working in conjunction with research partners, has provided detailed snapshots of golf's role in underpinning a healthy economy at both the state and national levels. The most recent report, the 2022 Golf Economy Report, measured golf's direct economic contributions in the U.S. at $101.7 billion, and found that the industry has impacted 1.65 million jobs with total wage income of $80.1 billion. Efforts are also ongoing to quantify golf's impact at the state level. American Golf Industry Coalition also serves to unite and strengthen inclusion practices across golf participation, workforce and procurement. Under the brand 'Make Golf Your Thing,' programs include grants to grassroot organizations, activations at historically black colleges and universities, and marketing to build awareness for industry jobs, all of which ensure the future of golf is open to everyone. This multi-faceted, multi-year campaign will work to invite more people to the sport from all backgrounds to enjoy the game of a lifetime - their way.Expenses $1,904,918 · grants $700,000
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 59-2998925
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1991
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Recreation and sports (N110)
- Assets (IRS master file)
- $9,141,095
- Income (IRS master file)
- $7,486,371
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | -$3,259,947 | $6,788,017 | $9,141,095 | IRS |
| 990-T | December 2024 | – | – | – | IRS |
| 990 | December 2023 | $10,867,139 | $9,945,264 | $18,876,644 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990 | December 2022 | $16,141,642 | $12,159,093 | $18,735,829 | IRS |
| 990-T | December 2022 | – | – | – | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990-T | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990-T | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 59-2998925).
Questions about WORLD GOLF FOUNDATION INC
- What is the EIN of WORLD GOLF FOUNDATION INC?
- The employer identification number (EIN) of WORLD GOLF FOUNDATION INC is 59-2998925.
- Is WORLD GOLF FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1991.
- Are donations to WORLD GOLF FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does WORLD GOLF FOUNDATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of WORLD GOLF FOUNDATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did WORLD GOLF FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of WORLD GOLF FOUNDATION INC?
- The 990 for the year ended December 31, 2024 names GREGORY MCLAUGHLIN.
- Who are the officers and directors of WORLD GOLF FOUNDATION INC?
- The 990 for the year ended December 31, 2024 lists 14 people; 5 received compensation from the organization, the highest $398,202 (GREGORY T MCLAUGHLIN, PRESIDENT/CEO).
- How much revenue does WORLD GOLF FOUNDATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of -$3,259,947, expenses of $6,788,017 and total assets of $9,141,095 at year end.
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