Tiger Woods Foundation Inc

What it reported doing in 2009

At the Tiger Woods Foundation, we believe every child deserves the opportunity to attend college. Designed to break through a culture of low expectations, TWF's college-access programs reach underserved youth in all stages of academic life. The groundbreaking Tiger Woods Learning Centers in Anaheim, Calif., and Washington, D.C., and the Earl Woods Scholarship Program provide a wealth of educational opportunities to young people nationwide. Earl Woods Scholarship Program The Earl Woods Scholarship Program is an unparalleled network providing admissions counseling, college scholarships, dedicated mentors, specialized internships and vital workshops. Receiving individualized support, TWF's bright young scholars are succeeding at prestigious universities such as Georgetown, USC, UC Berkeley, UCLA and Harvard. This program was created in memory of Tiger Woods Foundation co-founder Earl Woods. Tiger Woods Learning Center Serving scholars in grades 5-12, the Tiger Woods Learning Centers provide hands-on experiences in science, technology, engineering and math coupled with college preparation workshops to create a unique environment focused on college and careers. Interactive classes in subjects ranging from rocketry, aerospace engineering and marine biology to graphic design and communications, allow TWLC students to explore a future in almost any career and recognize the importance of attending college. Grants The Tiger Woods Foundation grant-making program primarily focuses on providing funding to organizations that specialize in education and youth development. Specifically, the grant program serves 501 (c) (3) organizations that enhance the learning process for youth. This program supports organizations, programs and projects by invitation only and subject to pre and post qualifications subject to applicable 501(c)(3) guidelines. Tiger Woods Foundation National Junior Golf Team Established in 1999, the Tiger Woods Foundation National Junior Golf Team competes annually in the Junior World Golf Championships held in San Diego, CA. In recognition of Tiger's work on behalf of underserved youth, the Junior World Golf Championships granted permanent exemptions to the Foundation, helping to build a bridge between underserved youth and competitive golf. These exemptions create opportunities to enhance the growth of junior golfers through international competition and reciprocate a similar chance afforded Tiger. EVENTS: THE 2010 AT&T NATIONAL HAD 120 PGA TOUR PROFESSIONALS COMPETING AT ARONIMINK GOLF CLUB IN NEWTOWN SQUARE, PA. THE EVENT PAID TRIBUTE TO THE U.S. MILITARY AND ALSO RAISED FUNDS FOR THE TIGER WOODS FOUNDATION AND VARIOUS PENNSYLVANIA LOCAL YOUTH CHARITY PROGRAMS. HOSTED BY TIGER WOODS, THE 2009 CHEVRON WORLD CHALLENGE FEATURED AN ELITE 18-MAN FIELD IN A FOUR-DAY TOURNAMENT HELD AT SHERWOOD COUNTRY CLUB IN THOUSAND OAKS, CALIFORNIA. THE TOURNAMENT WORKS TO RAISE AWARENESS FOR ITS NOT-FOR-PROFIT PARTNERS INCLUDING THE TIGER WOODS FOUNDATION AND OTHER LOCAL CHARITIES. The 2009 Deutsche Bank Championship was a premier PGA TOUR event held over Labor Day weekend at the TPC Boston in Norton, Mass. It raised funds for the Tiger Woods Foundation and New England-area charities. The event featured the top 100 PGA TOUR golfers as they competed in the PGA TOUR Playoffs for the FedEx Cup first prize. THE 2009 TWLC BLOCK PARTY, AN EVENING BENEFIT HELD IN ORANGE COUNTY, CALIFORNIA CELEBRATED THE LOCAL COMMUNITY AND THE YOUNG PEOPLE SERVED BY THE TIGER WOODS LEARNING CENTERS. THE EVENT BEGAN WITH A GOLF OUTING AND EXHIBITION BY TIGER WOODS FOLLOWED BY A GOURMET DINNER, LIVE AND SILENT AUCTIONS AND A UNIQUE MUSICAL PERFORMANCE BY SHERYL CROW. FUNDS RAISED AT THE BLOCK PARTY SUPPORT THE STUDENTS AND PROGRAMS OF THE TIGER WOODS LEARNING CENTERS.

Financial Efficiency

• Mission deployment rate: Limited
• Program expense ratio: Limited
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 92.3%; rating input score 92; 11th percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: 3 of 8 controls in place; rating input score 38
  • Claims monitoring procedures: Pass
  • Requires narrative reports: Pass
  • Conducts field audits: Fail
  • May suspend future funding: Fail
  • Requires financial reports: Fail
  • Conducts site visits: Pass
  • Requires grant agreements: Fail
  • May require repayment: Fail
• Grant itemization coverage: 99%; rating input score 99; 28th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 93.3%; rating input score 93; 26th 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: 1.6%; rating input score 50; 50th percentile among comparable filings
• Total-asset coverage ratio: 6.57; rating input score 91; 91st percentile among comparable filings
• Liabilities to assets ratio: 0.03; rating input score 90; 90th percentile among comparable filings
• Officer compensation ratio: 5.6%; rating input score 39; 39th percentile among comparable filings

Growth

• Program expense growth: Limited
• Revenue growth: Limited
• Asset growth: Limited