FLORIDA STATE GOLF ASSOCIATION INC

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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

1913

Legal Domicile

Principal Officer

MOE GALLANT

Phone

8136323742

Tax Period

2024-01-01 to 2024-12-31

FLORIDA STATE GOLF ASSOCIATION INC, founded in 1913, is a mid-sized nonprofit in the Recreation & Sports sector that reported $13.3M in total revenue in fiscal year 2024.

Mission

TO PRESERVE AND PROTECT THE GREAT GAME OF GOLF AND ITS HONORABLE TRADITIONS FOR THE FUTURE GENERATIONS.

Program Service Accomplishments

Program 1

Expenses: $4,863,630 Revenue: $4,363,820

TOURNAMENTS/CHAMPIONSHIP ADMINISTRATION - THE FLORIDA STATE GOLF ASSOCIATION CONDUCTS 51 STATE CHAMPIONSHIPS FOR AMATEUR GOLFERS OF ALL AGES, GENDERS AND CAPABILITIES. THE FSGA IS A VOLUNTEER-BASED ORGANIZATION WITH MORE THAN 500 VOLUNTEERS AND 350,000 MEMBERS. THE FSGA ALSO CONDUCTS MORE QUALIFIERS FOR THE USGA NATIONAL CHAMPIONSHIPS THAN ANY OTHER GOLF ASSOCIATION IN THE COUNTRY. EACH YEAR, THOUSANDS OF GOLFERS ATTEMPT TO QUALIFY TO PLAY IN NATIONAL LEVEL COMPETITION. FURTHER, THE ORGANIZATION CONDUCTS 200 DAYS OF "ONE-DAY" COMPETITIONS THAT ARE GEARED FOR THE RECREATIONAL AND DEVELOPING GOLFER. THESE EVENTS ARE OPEN TO PLAYERS OF ALL AGES AND CAPABILITIES.

Program 2

Expenses: $1,895,217 Revenue: $7,510,948

HANDICAP SERVICES - THE FSGA PROVIDES GOLF HANDICAPS TO APPROXIMATELY 350,000 INDIVIDUAL MEMBERS, ALLOWING THEM TO PLAY ON A COMPETITIVE LEVEL WITH OTHER GOLFERS OF ALL SKILLS AND CAPABILITIES. THESE MEMBERS ALSO REGULARLY COMPETE IN 200 INDIVIDUAL ONE-DAY COMPETITIONS EACH YEAR. THE NATURE OF THE GAME MAKES GOLF HANDICAPS AN ESSENTIAL TOOL THAT ALL GOLFERS ENJOY. INDIVIDUAL HANDICAPS ARE A CRITICAL COMPONENT OF GOLF IN ALL PARTS OF THE WORLD.

Program 3

Expenses: $1,506,197 Revenue: $7,665

FLORIDA JUNIOR TOUR - THE FSGA ALSO CONDUCTS 55 JUNIOR GOLF TOURNAMENTS CALLED THE FLORIDA JUNIOR TOUR (FJT) FOR THE BENEFIT OF JUNIOR GOLFERS IN FLORIDA. THE TOUR CONTINUALLY EMPHASIZES TO THE...

FLORIDA JUNIOR TOUR - THE FSGA ALSO CONDUCTS 55 JUNIOR GOLF TOURNAMENTS CALLED THE FLORIDA JUNIOR TOUR (FJT) FOR THE BENEFIT OF JUNIOR GOLFERS IN FLORIDA. THE TOUR CONTINUALLY EMPHASIZES TO THE PLAYERS THE BEST VALUES OF THE GAME INCLUDING INTEGRITY, HONESTY AND PERSONAL RESPONSIBILITY. THE JUNIOR GOLFERS PLAYING ON THE TOUR ARE SOME OF THE FINEST PLAYERS IN THE COUNTRY AND THE FJT SERVES AS A PROVING GROUND FOR THEIR FUTURE IN THE GAME.

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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 $368,551

Program Service Revenue $12,640,089

Investment Income $269,256

Other Revenue $0

TOTAL REVENUE $13,277,896

Expense Breakdown

Grants Paid $4,001,250

Salaries & Benefits $3,167,468

Fundraising Expenses $0

Program Expenses $12,895,943

Other Expenses $6,170,367

TOTAL EXPENSES $13,339,085

Year-over-Year Comparison

	2024	2023	Change
Revenue	$13,277,896	$12,575,125	+0.1%
Expenses	$13,339,085	$13,443,870	0.0%
Net Income	$-61,189	$-868,745	-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

Volunteers

500

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

$445,232

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JEFF MAGADITSCH	EXECUTIVE DIRECTOR	40.00	Officer	$290,000	$23,328	$313,328
DARIN GREEN	SR. DIR OF RULES AND COMP	40.00	Highest	$204,160	$18,229	$222,389
AARON SKOVIERA	SR. DIR GHIN SERVICES	40.00	Highest	$204,160	$18,229	$222,389
KYLE DIGIACCOBE	DIR OF MEN'S GOLF	40.00	Highest	$139,160	$14,729	$153,889
KEVIN KASUBINSKI	DIR GHIN SERVICES	40.00	Highest	$119,660	$13,469	$133,129
EMILY STOKER	DIR TOURNAMENT OPERATIONS	40.00	Highest	$119,159	$13,329	$132,488
JIM DEMICK	FSGA FOUNDATION PRESIDENT	55.00	Officer	$114,960	$16,944	$131,904
KAREN AMMERMAN	DIRECTOR	5.00	Director	$0	$0	$0
DUKE BUTLER IV	DIRECTOR	5.00	Director	$0	$0	$0
STEVE CARTER	DIRECTOR	5.00	Director	$0	$0	$0
WENDI CHRISTENSEN	DIRECTOR	5.00	Director	$0	$0	$0
MARY JANE CRUSSELLE	DIRECTOR	5.00	Director	$0	$0	$0
WILL DAVENPORT	DIRECTOR	5.00	Director	$0	$0	$0
JERONIMO ESTEVE	DIRECTOR	5.00	Director	$0	$0	$0
KEVIN HAMMER	DIRECTOR	5.00	Director	$0	$0	$0
CHAD IBBOTSON	DIRECTOR	5.00	Director	$0	$0	$0
MIKE MILLER	DIRECTOR	5.00	Director	$0	$0	$0
JOSE NOVO	DIRECTOR	5.00	Director	$0	$0	$0
CHUCK PHILLIPS	DIRECTOR	5.00	Director	$0	$0	$0
MIKE RILEY	DIRECTOR	5.00	Director	$0	$0	$0
CARL SANTOS OCAMPO	DIRECTOR	5.00	Director	$0	$0	$0
MEGHAN STASI	DIRECTOR	5.00	Director	$0	$0	$0
ADRIAN STILLS	DIRECTOR	5.00	Director	$0	$0	$0
JON VENEZIANO	DIRECTOR	5.00	Director	$0	$0	$0
JIM WEICK	DIRECTOR	5.00	Director	$0	$0	$0
KIM BENEDICT	DIRECTOR AT LARGE	5.00	Director	$0	$0	$0
WILL SPRAGUE	DIRECTOR AT LARGE	5.00	Director	$0	$0	$0
PETE WILLIAMS	DIRECTOR AT LARGE	5.00	Director	$0	$0	$0
MOE GALLANT	PRESIDENT	10.00	Officer Director	$0	$0	$0
STEVE ALBRIGHT	VICE PRESIDENT	10.00	Officer Director	$0	$0	$0
BRIAN KEENEN	SECRETARY/TREASURER	10.00	Officer Director	$0	$0	$0
ANTHONY CAPANO	IMMEDIATE PAST PRESIDENT	5.00	Officer Director	$0	$0	$0

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	$13,277,896	$13,339,085	$6,196,423	$-61,189
2023	$12,575,125	$13,443,870	$5,660,321	$-868,745
2022	$10,377,857	$9,836,303	$5,786,545	$541,554
2021	$9,469,778	$26,218,349	$5,793,122	$-16,748,571
2020	$8,035,233	$5,259,497	$21,463,798	$2,775,736
2019	$8,660,855	$5,959,509	$17,052,832	$2,701,346
2018	$7,458,336	$5,718,029	$12,960,614	$1,740,307