Pga Tour

What it reported doing in 2024

The principal mission of pga tour, inc. Is the promotion of the sport of professional golf and the common interests of the touring professional golfer as well as growth of the game. This is primarily accomplished through managing and co-sponsoring professional golf tournaments, securing corporate sponsorship of tournaments and other programs, and securing television exposure for its professional golf tournaments. By managing and co-sponsoring four professional golf tournament divisions (pga tour, pga tour champions, korn ferry tour, and pga tour americas - collectively known as the pga tour), pga tour, inc. Provides opportunities for the touring professional golfer to compete and earn prize money and benefits while growing the game by exposing it to the general public through attendance and television and other media engagement. In 2024, the various tours collectively held 115 tournaments. Total prize money and other player-related benefits earned through competition by professional golfers across the various tours in 2024 exceeded $975 million. These tournaments were played in at least 35 u.s. States and 16 different countries in 2024, allowing people throughout the world the opportunity to experience first-hand the sport of professional golf. Members on the pga tour represent the world's best players, hailing from 28 countries and territories. Pga tour, inc. Secures television coverage for its tournaments through agreements with national and international broadcasters and cable channels. The pga tour has long-term domestic distribution partnerships for broadcast coverage on cbs, nbc, and golf channel and video streaming service on espn+. Internationally, pga tour coverage is available across 200+ countries and territories in 30 languages via 44 broadcast and digital partners. In addition to television coverage, the pga tour is embracing digital media across multiple platforms, including the pga tour app and a subsidiary's website, pgatour.com. To bring the players closer to the general public, volunteers, and sponsors, through a subsidiary the pga tour continues to grow its presence on social media channels, including youtube, facebook, instagram (in spanish, korean and japanese), linkedin, tiktok, x (in english, spanish and japanese); the pga tour channel on free ad-supported streaming television (fast) platforms such as the roku channel, samsung tv plus, plutotv, xumo, lg channels, tubi, amazon's freevee, firetv and alexa devices; and whatsapp (in english and spanish), wechat, weibo, toutiao, and douyin. Pga tour, inc. And the ladies professional golf association ("lpga") maintain a strategic alliance designed to further promote the growth of professional golf including areas such as schedule coordination, joint marketing, television representation, digital media, and the development of joint events including the annual grant thornton invitational. The pga tour and dp world tour continued its strategic alliance, with the tours exploring all facets of collaboration. This collaboration includes working in partnership on a number of areas including global scheduling and playing opportunities for the respective memberships. This includes the co-sanctioning of the genesis scottish open, to appear on both schedules, providing access to dp world tour members to two pga tour events, and granting pga tour membership to the top 10 dp world tour players from the previous year's race to dubai. The mission of growing the game of golf is enhanced through television, corporate sponsorships and the promotional activities associated with promoting the sport of professional golf. The qualified sponsorship payments received by pga tour, inc., as defined in internal revenue code section 513(i), promote the sport through funds utilized in part to increase purse amounts and earnings opportunities for professional golfers on the various professional golf tours collectively known as the pga tour and to achieve pga tour, inc.'s goal of giving back

Financial Efficiency

• Mission deployment rate: 0%; rating input score 0
• Program expense ratio: 0%; rating input score 0
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 91.7%; rating input score 92; 8th percentile among comparable filings
• Pay-setting controls: 5 of 6 controls in place; rating input score 83
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: 1 of 8 controls in place; rating input score 12
  • Claims monitoring procedures: Pass
  • Requires narrative reports: Fail
  • Conducts field audits: Fail
  • May suspend future funding: Fail
  • Requires financial reports: Fail
  • Conducts site visits: Fail
  • Requires grant agreements: Fail
  • May require repayment: Fail
• Grant itemization coverage: 97.4%; rating input score 97; 32nd percentile among comparable filings
• Major donor itemization: Limited
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 50%; rating input score 50; 13th percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -59.4%; rating input score 1; 1st percentile among comparable filings
• Total-asset coverage ratio: 3.19; rating input score 77; 77th percentile among comparable filings
• Liabilities to assets ratio: 0.59; rating input score 29; 29th percentile among comparable filings
• Officer compensation ratio: 8.1%; rating input score 5; 5th percentile among comparable filings

Growth

• Program expense growth: Limited
• Revenue growth: 3.1% per year; rating input score 100; 23rd percentile among comparable filings
• Asset growth: 7.8% per year; rating input score 100; 57th percentile among comparable filings