MARYLAND STATE GOLF ASSOCIATION (EIN 521326177) - 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

1921

Legal Domicile

Principal Officer

KELLON NEWLAND

Phone

4106535300

Tax Period

2025-01-01 to 2025-12-31

MARYLAND STATE GOLF ASSOCIATION, founded in 1921, is a community nonprofit in the Recreation & Sports sector that reported $3.3M in total revenue in fiscal year 2025. Revenue surged 26% from the prior year, signaling strong growth momentum. The organization ran a surplus of $784K, a strong 24% operating margin.

Mission

THE MARYLAND STATE GOLF ASSOCIATION (MSGA) IS DEDICATED TO PROMOTING THE GAME OF GOLF IN MARYLAND AND WASHINGTON, DC. WE WELCOME GOLFERS OF ALL AGES AND ABILITIES AND OFFER A RANGE OF INITIATIVES AIMED AT ENRICHING AND EXPANDING THE OPPORTUNITIES WITHIN THE SPORT, INCLUDING:-HOSTING TOURNAMENTS, USGA CHAMPIONSHIP QUALIFIERS, EVENTS, AND TEAM MATCHES-ADMINISTERING GOLF HANDICAP AND COURSE RATING PROGRAMS-FOSTERING THE NEXT GENERATION OF GOLFERS THROUGH JUNIOR PROGRAMS, GRANTS, AND SCHOLARSHIPS-PROVIDING COMPREHENSIVE GOLF RULES EDUCATION-EXPANDING ENGAGEMENT AMONG WOMEN, NEW GOLFERS, AND ADAPTIVE GOLF PARTICIPANTS-PRESERVING OUR RICH HERITAGE THROUGH OUR PARTNERSHIP WITH THE MARYLAND GOLF HALL OF FAMETHE MSGA IS A 501(C)(3) CHARITABLE ORGANIZATION OF 8 STAFF, 15 BOARD MEMBERS, 72 VOLUNTEERS, 58,000 MEMBERS, AND 167 MEMBER CLUBS. FOUNDED IN 1921, WE CONTINUALLY WORK TO SEEK WAYS TO IMPROVE THE GOLF EXPERIENCE FOR OUR MEMBERS. FOR MORE INFORMATION, PLEASE VISIT MSGA.ORG.

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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 (2025)

Revenue Breakdown

Contributions & Grants $286,697

Program Service Revenue $2,674,142

Investment Income $266,391

Other Revenue $51,464

TOTAL REVENUE $3,278,694

Expense Breakdown

Grants Paid $67,227

Salaries & Benefits $688,020

Fundraising Expenses $0

Program Expenses $1,574,898

Other Expenses $1,739,044

TOTAL EXPENSES $2,494,291

Year-over-Year Comparison

	2025	2024	Change
Revenue	$3,278,694	$2,594,734	+0.3%
Expenses	$2,494,291	$2,132,497	+0.2%
Net Income	$784,403	$462,237	+0.7%

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

Volunteers

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

$185,561

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SINCLAIR EADDY	PRESIDENT	2.00	Officer Director	$0	$0	$0
JACK BARSE	SECRETARY	2.00	Officer Director	$0	$0	$0
DIANE HERNDON	TREASURER	2.00	Officer Director	$0	$0	$0
JAN MILLER	DIRECTOR	2.00	Director	$0	$0	$0
DAVID BANNISTER	DIRECTOR	2.00	Director	$0	$0	$0
REBECCA KRIMSKI	DIRECTOR	2.00	Director	$0	$0	$0
MIKE HINKEY	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
BOB VAN NAMEN	DIRECTOR	2.00	Director	$0	$0	$0
ARMANDO DELTORO	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT HOOPES	DIRECTOR (BEG 11/25)	2.00	Director	$0	$0	$0
BILL TIGNANELLI	DIRECTOR	2.00	Director	$0	$0	$0
ALAN SCHROEDER	DIRECTOR	2.00	Director	$0	$0	$0
MIKE CUMBERPATCH	DIRECTOR	2.00	Director	$0	$0	$0
JOAN HEISS	DIRECTOR	2.00	Director	$0	$0	$0
MARK MILLER	DIRECTOR	2.00	Director	$0	$0	$0
KELLON NEWLAND	EXECUTIVE DIRECTOR	50.00	Officer	$151,800	$33,761	$185,561

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
2025	$3,278,694	$2,494,291	$3,231,199	$784,403
2024	$2,594,734	$2,132,497	$2,547,447	$462,237
2023	$2,293,892	$1,815,566	$2,036,105	$478,326
2022	$1,786,419	$1,525,276	$1,475,076	$261,143
2021	$1,716,132	$1,486,811	$1,462,726	$229,321
2020	$1,229,130	$1,162,220	$1,206,835	$66,910
2019	$1,177,633	$1,139,628	$1,077,001	$38,005
2018	$1,136,841	$1,135,044	$1,008,514	$1,797

MARYLAND STATE GOLF ASSOCIATION