UNITED STATES GOLF ASSOCIATION (EIN 131427105) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1894

Legal Domicile

Principal Officer

MICHAEL WHAN

Phone

9082342300

Tax Period

2024-01-01 to 2024-12-31

UNITED STATES GOLF ASSOCIATION, founded in 1894, is a major nonprofit in the Recreation & Sports sector that reported $296.6M in total revenue in fiscal year 2024. Revenue surged 40% from the prior year, signaling strong growth momentum. Net assets of $649.8M represent 26 months of operating reserves.

Mission

THE USGA HAS A WRITTEN POLICY REGARDING FIRST CLASS TRAVEL AND THE USE OF PRIVATE JETS/CHARTERS. FOR THE LATTER, USE IS STRICTLY LIMITED TO USGA BUSINESS TRAVEL WHERE THERE ARE NO COMMERCIAL FLIGHTS AVAILABLE TO MEET THE ITINERARY, AND FOR USE ONLY BY EXECUTIVE LEADERSHIP/EXECUTIVE COMMITTEE WITH PRIOR APPROVAL BY THE PRESIDENT OF THE USGA. SPOUSE TRAVEL IS NOT REIMBURSED, EXCEPT IN LIMITED CIRCUMSTANCES WHERE THERE IS A BUSINESS PURPOSE AND APPROVED BY THE PRESIDENT OF THE USGA.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $62,607,775

Program Service Revenue $164,732,708

Investment Income $49,854,280

Other Revenue $19,394,655

TOTAL REVENUE $296,589,418

Expense Breakdown

Grants Paid $8,818,845

Salaries & Benefits $74,516,501

Fundraising Expenses $134,350

Program Expenses $250,163,159

Other Expenses $220,784,181

TOTAL EXPENSES $304,253,877

Year-over-Year Comparison

	2024	2023	Change
Revenue	$296,589,418	$211,630,044	+0.4%
Expenses	$304,253,877	$290,259,512	+0.0%
Net Income	$-7,664,459	$-78,629,468	-0.9%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

588

Volunteers

7300

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✓ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$4,800,361

Total Directors

Key Employees

$3,294,985

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRED PERPALL	PRESIDENT	10.00	Officer Director	$0	$0	$0
ANTHONY K ANDERSON	EXECUTIVE COMMITTEE	10.00	Director	$0	$0	$0
ANDREW BIGGADIKE	EXECUTIVE COMMITTEE (AS OF 03/24)	10.00	Director	$0	$0	$0
CHUCK BRYMER	EXECUTIVE COMMITTEE (THRU 02/24)	10.00	Director	$0	$0	$0
DAVID DORTON	EXECUTIVE COMMITTEE (AS OF 03/24)	10.00	Director	$0	$0	$0
VIRGINIA DROSOS	EXECUTIVE COMMITTEE (AS OF 03/24)	10.00	Director	$0	$0	$0
SINCLAIR EDDY	EXECUTIVE COMMITTEE	10.00	Director	$0	$0	$0
CATHY ENGELBERT	EXECUTIVE COMMITTEE	10.00	Director	$0	$0	$0
KENDRA GRAHAM	EXECUTIVE COMMITTEE (THRU 02/24)	10.00	Director	$0	$0	$0
KEVIN HAMMER	EXECUTIVE COMMITTEE	10.00	Director	$0	$0	$0
LESLIE HENRY	EXECUTIVE COMMITTEE	10.00	Director	$0	$0	$0
DAVID LEITCH	EXECUTIVE COMMITTEE (AS OF 03/24)	10.00	Director	$0	$0	$0
BRYAN LEWIS	EXECUTIVE COMMITTEE	10.00	Director	$0	$0	$0
DEBORAH PLATT MAJORAS	EXECUTIVE COMMITTEE	10.00	Director	$0	$0	$0
MICHAEL MCCARTHY	EXECUTIVE COMMITTEE	10.00	Director	$0	$0	$0
COURTNEY MYHRUM	EXECUTIVE COMMITTEE	10.00	Director	$0	$0	$0
ANDY NORTH	EXECUTIVE COMMITTEE (AS OF 03/24)	10.00	Director	$0	$0	$0
ANTHONY PETITTI	EXECUTIVE COMMITTEE (THRU 02/24)	10.00	Director	$0	$0	$0
SHARON RITCHEY	EXECUTIVE COMMITTEE (THRU 02/24)	10.00	Director	$0	$0	$0
MIKE WHAN	CEO	60.00	Officer	$2,898,388	$150,059	$3,048,447
SUSAN PIKITCH	CHIEF FINANCIAL OFFICER	60.00	Officer	$838,917	$67,826	$906,743
CHRISTOPHER FRASER	SECRETARY AND CLO	60.00	Officer	$784,461	$60,710	$845,171
JOHN BODENHAMER	CHIEF CHAMPIONSHIPS OFFICER	60.00	Key Emp	$941,217	$71,478	$1,012,695
JON PODANY	CHIEF COMMERCIAL OFFICER	60.00	Key Emp	$805,242	$78,741	$883,983
THOMAS PAGEL	CHIEF GOVERNANCE OFFICER	60.00	Key Emp	$670,637	$63,342	$733,979
EMILY PALMER	CHIEF MBER SERVICES OFFICER	60.00	Key Emp	$616,405	$47,923	$664,328
REGINALD JONES JR	MD, US OPEN	50.00	Highest	$519,046	$54,409	$573,455
JAMES HILL	MD, CHAMPIONSHIPS	60.00	Highest	$440,201	$68,975	$509,176
CHAEMIN LEE	MD, HUMAN RESOURCES	60.00	Highest	$446,156	$54,823	$500,979
MARY LOPUSZYNSKI	MD, MERCHANDISE	50.00	Highest	$456,495	$28,018	$484,513
DENNIS BAGGETT	MD, OPEN CHAMPIONSHIPS	60.00	Highest	$424,318	$49,530	$473,848

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$296,589,418	$304,253,877	$806,058,075	$-7,664,459
2023	$211,630,044	$290,259,512	$822,759,640	$-78,629,468
2022	$234,900,135	$263,194,534	$791,037,411	$-28,294,399
2021	$231,699,897	$209,927,454	$917,892,326	$21,772,443
2020	$517,714,574	$171,946,662	$885,275,470	$345,767,912
2019	$230,989,875	$199,712,427	$509,493,063	$31,277,448

UNITED STATES GOLF ASSOCIATION