PGA TOUR FIRST TEE FOUNDATION INC

EIN: 834186070 501(c)(3) Recreation & Sports

PONTE VEDRA BEACH, FL

Total Revenue
$28,512,084
Total Expenses
$30,771,210
Total Assets
$118,697,045
Net Assets
$113,150,563
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Financial Trends

Organization Details

Formation Year
2019
Legal Domicile
FL
Principal Officer
GREGORY T MCLAUGHLIN
Phone
9049404300
Tax Period
2023-01-01 to 2023-12-31

PGA TOUR FIRST TEE FOUNDATION INC, founded in 2019, is a mid-sized nonprofit in the Recreation & Sports sector that reported $28.5M in total revenue in fiscal year 2023. Revenue decreased 11% compared to the prior year. Net assets of $113.2M represent 48 months of operating reserves.

Mission

TO IMPACT THE LIVES OF YOUNG PEOPLE BY PROVIDING EDUCATIONAL PROGRAMS THAT BUILD CHARACTER AND INSTILL LIFE-ENHANCING VALUES THROUGH THE GAME OF GOLF. FIRST TEE ENABLES KIDS TO BUILD THE STRENGTH OF CHARACTER THAT EMPOWERS THEM THROUGH A LIFETIME OF NEW CHALLENGES. BY SEAMLESSLY INTEGRATING THE GAME OF GOLF WITH A LIFE SKILLS CURRICULUM, THE ORGANIZATION CREATES ACTIVE LEARNING EXPERIENCES THAT BUILD INNER STRENGTH, SELF-CONFIDENCE, AND RESILIENCE.

Program Service Accomplishments

Program 1
Expenses: $22,996,015 Revenue: $761,506

FIRST TEE CURRICULUM SEAMLESSLY INTEGRATES LIFE SKILLS WITH GOLF SKILLS TO BUILD POSITIVE SOCIAL, EMOTIONAL AND CHARACTER TRAITS IN YOUNG PEOPLE, WHICH IS LEARNED THROUGH THE GOLF CONTEXT AND...

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FIRST TEE CURRICULUM SEAMLESSLY INTEGRATES LIFE SKILLS WITH GOLF SKILLS TO BUILD POSITIVE SOCIAL, EMOTIONAL AND CHARACTER TRAITS IN YOUNG PEOPLE, WHICH IS LEARNED THROUGH THE GOLF CONTEXT AND TRANSLATED TO EVERYDAY LIFE, INCLUDING SCHOOL. COACHES, TEACHERS AND YOUTH LEADERS RECEIVE MULTI-YEAR TRAINING AND LEADERSHIP DEVELOPMENT TO DELIVER THE CURRICULUM, WHICH TAKES PLACE ON GOLF COURSES, IN SCHOOLS AND THROUGH AFTER-SCHOOL PARTNER LOCATIONS. IN ADDITION, THE FIRST TEE OFFERS EDUCATIONAL OPPORTUNITIES AND PROFESSIONAL DEVELOPMENT FOR CHAPTER STAFF, VOLUNTEER BOARD LEADERS AND TEACHERS. FIRST TEE ALSO HOSTS NATIONAL EVENT OPPORTUNITIES FOR SELECTED CHAPTER YOUTH PARTICIPANTS TO ENHANCE THEIR LEADERSHIP, UNDERSTANDING OF DIVERSITY, EQUITY AND INCLUSION, AND LIFE SKILLS.

Program 2
Expenses: $548,520 Revenue: $0

FIRST TEE COLLEGE SCHOLARSHIP PROGRAM IS AVAILABLE TO HIGH SCHOOL SENIORS WHO ARE ACTIVE IN THE FIRST TEE AND EXCEL IN ACADEMICS, LEADERSHIP, CHARACTER DEVELOPMENT, COMMUNITY AND HAVE DEMONSTRATED...

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FIRST TEE COLLEGE SCHOLARSHIP PROGRAM IS AVAILABLE TO HIGH SCHOOL SENIORS WHO ARE ACTIVE IN THE FIRST TEE AND EXCEL IN ACADEMICS, LEADERSHIP, CHARACTER DEVELOPMENT, COMMUNITY AND HAVE DEMONSTRATED FINANCIAL NEED TO ATTEND COLLEGE. AS PART OF THE PROGRAM, STUDENTS ARE PAIRED WITH AN ADULT MENTOR THROUGHOUT THEIR COLLEGE EXPERIENCE AND ARE PROVIDED PROFESSIONAL DEVELOPMENT AND RESOURCES. SCHOLARS RECEIVE FINANCIAL SUPPORT UP TO $5,000 PER YEAR, RENEWABLE FOR FOUR YEARS BASED ON THE STUDENT'S PERFORMANCE. STUDENTS SELECT THE COLLEGE THEY WOULD LIKE TO ATTEND, AND THE FINANCIAL SUPPORT IS PAID DIRECTLY TO THE INSTITUTION OF THE RECIPIENT'S CHOICE.

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $23,619,196
Program Service Revenue $761,506
Investment Income $3,728,078
Other Revenue $403,304
TOTAL REVENUE $28,512,084

Expense Breakdown

Grants Paid $13,119,249
Salaries & Benefits $9,970,718
Fundraising Expenses $3,452,447
Program Expenses $23,544,535
Other Expenses $7,668,891
TOTAL EXPENSES $30,771,210

Year-over-Year Comparison

2023 2022 Change
Revenue $28,512,084 $31,986,597 -0.1%
Expenses $30,771,210 $34,177,729 -0.1%
Net Income $-2,259,126 $-2,191,132 +0.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
5
Independent Members
4
Employees
64
Volunteers
N/A

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
2
$1,218,151
Total Directors
5
$1,061,137
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
GREGORY T MCLAUGHLIN DIRECTOR/PRESIDENT/SECRETARY 40.0
Officer Director
$1,015,585 $45,552 $1,061,137
GUY GARBARINO SVP ADVANCEMENT 40.0
Highest
$304,066 $33,506 $337,572
JENNIFER WEILER SVP NETWORK RELATIONS 40.0
Highest
$302,539 $33,152 $335,691
BLANTON JONES VP ADVANCEMENT 40.0
Highest
$277,980 $37,925 $315,905
JANE FADER SVP COMMS & MARKETING 40.0
Highest
$256,717 $31,850 $288,567
BENJAMIN JARVIS VP STRATEGY & BUS. ENABLEMENT 40.0
Highest
$249,116 $9,000 $258,116
DIANE TETSWORTH TREASURER & SVP 20.0
Officer
$147,423 $9,591 $157,014
TIMOTHY W FINCHEM DIRECTOR 5.0
Director
$0 $0 $0
VICTOR F GANZI DIRECTOR 5.0
Director
$0 $0 $0
EDWARD D HERLIHY DIRECTOR 5.0
Director
$0 $0 $0
JOHN B MCCOY DIRECTOR 5.0
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 No data No data No data No data
2023 $28,512,084 $30,771,210 $118,697,045 $-2,259,126
2022 $31,986,597 $34,177,729 $119,450,769 $-2,191,132
2021 $69,880,814 $31,347,492 $130,809,259 $38,533,322
2020 $96,357,278 $20,886,398 $88,241,842 $75,470,880
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