Professional Golfers Association Of America in Palm Bch Gdns, Florida (FL)

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Professional Golfers Association Of America
Employer Identification Number (EIN)590785835
Name of OrganizationProfessional Golfers Association Of America
AddressPO BOX 109601, Palm Bch Gdns, FL 33410-9601
ActivitiesProfessional athletic league, Training in sports
SubsectionBusiness League
Ruling Date12/1959
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2011
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$304,306,444
Amount of Income$147,641,095
Form 990 Revenue Amount$93,458,805
National Taxonomy of Exempt Entities (NTEE)Recreation, Sports, Leisure, Athletics: Professional Societies, Associations


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Amount of income in 2011: $147,641,095
This organization: 

 $147,641,095
Other organizations performing similar types of work: 

 $2,179,726

Assets in 2011: $304,306,444
This organization: 

 $304,306,444
Other organizations performing similar types of work: 

 $3,436,189

Expenses in 2007: $73,332,773
This organization: 

 $73,332,773
Other organizations performing similar types of work: 

 $2,601,968

Income to expenses ratio in 2007: 1.0
Professional Golfers Association Of America: 

 1.0
Other organizations performing similar types of work: 

 1.1

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$64,460,612$46,699,777$64,228,680$54,625,083$75,526,385$57,763,030$80,638,841$74,663,737
Contributions, gifts, grants, and similar amounts received$0$0$0$0$0$0$0$0
Contributions to donor advised funds$0$0
Direct public support$0$0$0$0$0$0$0$0
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$34,400,809$34,695,947$54,295,762$41,697,165$64,402,349$45,110,173$63,259,855$53,992,988
Membership dues and assessments$2,621,116$2,488,119$2,825,806$2,713,205$2,707,579$2,745,660$2,767,640$2,912,189
Interest on savings and temporary cash investments$5,900,481$4,043,758$3,007,484$2,457,446$2,900,834$3,760,496$4,322,174$4,061,096
Dividends and interest from securities$708,162$648,419$729,607$914,283$1,251,670$1,550,860$1,555,236$1,345,205
Net rental income or (loss)$-108,787$-5,833$-60,672$-97,850$-187,562$-147,384$-122,190$-176,680
Gross rents$283,414$612,329$828,249$894,175$947,008$951,730$941,421$950,754
Less: rental expenses$392,201$618,162$888,921$992,025$1,134,570$1,099,114$1,063,611$1,127,434
Other investment income$0$7,350$0$4,474$6,465$18,062$20,858$23,960
Gain or (loss) from sales of assets other than inventory$17,365,358$1,999,908$710,213$5,833,047$3,250,328$3,550,704$7,349,924$10,482,777
Gross amount from sales of assets other than inventory$59,925,104$39,936,069$44,108,820$67,662,394$35,823,254$86,436,456$63,611,831$89,626,326
Less: cost or other basis and sales expenses$42,559,746$37,936,161$43,398,607$61,829,347$32,572,926$82,885,752$56,261,907$79,143,549
Net income or (loss) from special events and activities$0$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$3,573,473$2,822,109$2,720,480$1,103,313$1,194,722$1,174,459$1,485,344$2,022,202
Total expenses$40,362,425$39,144,755$46,454,601$49,376,236$63,107,116$66,819,670$80,222,409$73,332,773
Program services$0$0$0$0$0$0$0$0
Management and general$0$0$0$0$0$0$0$0
Fundraising$0$0$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$218,855,178$217,986,425$235,877,217$251,987,938$269,780,147$268,830,296$285,826,128$264,253,857
Excess or (deficit) for the year$24,098,187$7,555,022$17,774,079$5,248,847$12,419,269$-9,056,640$416,432$1,330,964
Net assets or fund balances at beginning of year$215,683,158$218,855,178$217,986,425$235,877,217$251,987,938$269,780,147$268,830,296$285,826,128
Other changes in net assets or fund balances$-20,926,167$-8,423,775$116,713$10,861,874$5,372,940$8,106,789$16,579,400$-22,903,235
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$73,332,773$0$0$0
Grants paid from donor advised funds$0
Other grants and allocations$1,741,539
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$797,918$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$0$0$0$0
Legal fees$0$0$0$0
Supplies$743,749$0$0$0
Telephone$133,246$0$0$0
Postage and shipping$1,076,677$0$0$0
Occupancy$891,598$0$0$0
Equipment rental and maintenance$724,194$0$0$0
Printing and publications$417,934$0$0$0
Travel$4,355,521$0$0$0
Conferences, conventions, and meetings$2,773,349$0$0$0
Interest$330,767$0$0$0
Depreciation, depletion, etc.$1,725,806$0$0$0
Other expenses not covered above$57,620,475$0$0$0
Balance Sheets
20002001200220032004200520062007
Total assets$246,769,311$250,015,649$262,512,233$288,998,377$307,458,997$307,971,898$314,333,998$302,552,770
Cash - non-interest-bearing$0$0$0$0$0$0$0$0
Savings and temporary cash investments$38,211,623$32,510,145$40,578,475$48,360,741$54,929,054$43,719,188$30,881,085$32,773,562
Accounts receivable less allowance for doubtful accounts$579,269$598,537$530,406$298,081$961,041$1,182,125$907,571$3,568,884
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$39,198$31,566$23,105$13,582$4,059$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$200,000$0$0$0
Inventories for sale or use$3,080,478$2,232,978$2,084,210$1,534,052$1,307,019$1,153,145$1,304,145$1,012,896
Prepaid expenses and deferred charges$1,252,145$1,363,363$956,840$1,561,756$1,531,333$1,658,011$3,336,033$4,246,471
Investments - publicly-traded securities$176,870,957$160,909,915
Investments - other securities$131,782,378$125,366,055$121,797,381$136,077,338$147,535,848$158,196,978$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$28,632,627$28,907,627$29,207,627$88,899,687$90,214,309$90,214,309$90,214,308$90,214,308
Land, buildings, and equipment less accumulated depreciation$8,894,603$10,632,672$11,322,965$10,572,247$10,776,334$11,848,142$10,819,899$9,826,734
Other assets, including program-related investments$34,296,990$48,372,706$56,011,224$1,680,893$0$0$0$0
Total liabilities$27,914,133$32,029,224$26,635,016$37,010,439$37,678,850$39,141,602$28,507,870$38,298,913
Accounts payable and accrued expenses$7,211,348$7,504,298$8,553,747$11,377,125$8,620,966$9,734,572$5,824,203$5,516,044
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$0$14,774,820$9,687,480$18,117,889$13,766,599$18,579,392$14,904,426$19,544,465
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$6,508,083$9,711,762$8,393,789$7,515,425$6,594,989$6,235,866$6,355,447$6,854,395
Other liabilities$14,194,702$38,344$0$0$8,696,296$4,591,772$1,423,794$6,384,009
Total liabilities and net assets/fund balances$246,769,311$250,015,649$262,512,233$288,998,377$307,458,997$307,971,898$314,333,998$302,552,770
Total net assets or fund balances$218,855,178$217,986,425$235,877,217$251,987,938$269,780,147$268,830,296$285,826,128$264,253,857
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$64,460,612$46,699,777$64,228,680$54,625,083$75,526,385$57,763,030$80,638,841$74,663,737
Total revenue, gains, and other support per audited financial statements$43,534,445$38,276,002$64,345,393$65,486,957$80,899,325$65,869,819$97,218,241$51,760,502
Other expenses$-20,926,167$-8,423,775$116,713$10,861,874$5,372,940$8,106,789$16,579,400$-22,903,235
Net unrealized gains on investments$-20,926,167$-8,423,775$116,713$10,861,874$5,372,940$8,106,789$16,579,400$-22,903,235
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$0$0$46,454,601$49,376,236$63,107,116$66,819,670$80,222,409$73,332,773
Total expenses and losses per audited financial statements$0$0$46,454,601$49,376,236$63,107,116$66,819,670$80,222,409$73,332,773
Other revenue$0$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other expenses$0$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings21
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?Yes
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?No
Did the organization make only in-house lobbying expenditures of $2,000 or less?No
Dues, assessments, and similar amounts from members$2,814,998
Section 162(e) lobbying and political expenditures$146,373
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$281,500
Taxable amount of lobbying and political expenditures$-135,127
Does the organization elect to pay the section 6033(e) tax on the amount above?No
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?Yes
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$207,884$17,550,676$56,905,177
Program service revenue
Program service revenue 1000000$000$0$45,417,823
Program service revenue 2000000$000$0$8,513,164
Program service revenue 3000000$000$0$62,001
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$2,912,189
Interest on savings and temporary cash investmentsPassive income activities with controlled organizations$243,191Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$3,817,905$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$1,345,205$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed propertyLessors of nonresidential buildings (except miniwarehouses)$-261,581Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)$84,901$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$23,960$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$10,482,777$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenuePromoters of performing arts, sports, and simiilar events$226,274Royalty income excluded by section 512(b)(2)$1,795,928$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
5911010630%$28,749,338$114,805,203
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it is
Support Schedule
19992000200120022003200420052006
Total$0$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Pga Tour Inc, United States Trust Co Na100 Pga Tour Blvd, Ponte Vedra, FL 32082-3046FL1977-02$1,356,928,197
2United States Tennis Association Inc70 W Red Oak Ln, White Plains, NY 10604-3602NY1943-11$243,359,606
3Professional Golfers Association Of AmericaPO BOX 109601, Palm Bch Gdns, FL 33410-9601FL1959-12$147,641,095
4Office Of The Commissioner Of Base Ball245 Park Avenue, New York, NY 10167-0002NY1942-10$119,529,301
5National Hockey League1185 Avenue Of The Americas, New York, NY 10036-2601NY1986-01$89,117,461
6Ladies Professional Golf Assoc100 International Golf Dr, Daytona Beach, FL 32124-1092FL1971-02$73,692,938
7National Marine Manufacturers Association Inc231 S La Salle St Ste 2050, Chicago, IL 60604-1440IL1982-08$42,185,215
8The National Football League Management Council345 Park Ave Fl 8, New York, NY 10154-0017NY1972-11$35,454,474
9National Shooting Sports Foundation Inc11 Mile Hill Road, Newtown, CT 06470-2359CT1971-01$30,692,623
10United States Polo Association4037 Ironworks Parkway, Lexington, KY 40511-8509KY1979-09$17,874,125
11Golf Course Superintendents Assoc Of America1421 Research Park Dr, Lawrence, KS 66049-3858KS1951-08$14,146,485
12Sports Car Racing Association Of The Monterey Peninsula1021 Monterey Salinas Hwy, Salinas, CA 93908-8937CA1959-01$13,641,450
13American Motorcycle Association13515 Yarmouth Dr, Pickerington, OH 43147-8214OH1984-12$12,009,461
14Professional Rodeo Cowboys Association Inc101 Pro Rodeo Dr, Colorado Spgs, CO 80919-2301CO1979-11$11,667,903
15San Diego Bowl Game Association, Holiday Bowl9449 Friars Rd L 55, San Diego, CA 92108-1718CA1978-11$10,823,652
16Northern California Golf AssociationPO BOX NCGA, Pebble Beach, CA 93953-1157CA1981-02$9,363,727
17Snowsports Industries America Inc8377 B Greensboro Dr, Mclean, VA 22102-3529VA1978-02$7,652,443
18National Thoroughbred Racing2525 Harrodsburg Rd Ste 400, Lexington, KY 40504-3359KY1998-10$6,181,321
19Southern California Golf Association3740 Cahuenga Blvd, N Hollywood, CA 91604-3502CA1982-07$5,952,390
20Southern California Section Of Pga300 Ave Of The Champions Ste 2, Palm Beach Gardens, FL 33418-3600FL1983-04$5,211,042
21Amateur Trapshooting Association Of America601 W National Rd, Vandalia, OH 45377-1036OH1944-05$4,884,080
22American Football Coaches Association100 Legend Ln, Waco, TX 76706-1243TX1976-02$4,431,810
23Pennsylvania Harness Horsemens Association1300 Plaza W Suite 303, Lemoyne, PA 17043PA1970-03$3,961,962
24National Ski Areas Association Inc133 S Van Gordon Street, Lakewood, CO 80228-1706CO1964-04$3,642,972
25Virginia State Golf Association Inc600 Founders Bridge Blvd, Midlothian, VA 23113-6357VA1981-11$3,636,531
26National Golf Foundation Inc1150 South Us Hwy One Suite 401, Jupiter, FL 33477-7243FL1960-02$2,179,726
27Ice Skating Institute6000 Custer Rd Ste 9, Plano, TX 75023-5100TX1967-07$2,119,089
28National Association Of Public Golf Courses291 Seven Farms Dr, Daniel Island, SC 29492-7998SC1977-06$1,949,212
29National Association Of Underwater Instructors9030 Camden Field Pkwy, Riverview, FL 33578-0521FL1961-10$1,185,869
30Islamorada Charterboat Association IncPO BOX 462, Islamorada, FL 33036-0462FL1984-03$109,388
Number of organizations performing similar types of work
Arizona2
California6
Colorado3
Connecticut2
Florida7
Illinois3
Indiana1
Kansas1
Kentucky3
Massachusetts1
Maryland1
Maine1
Michigan1
Minnesota3
Mississippi1
New Hampshire1
New Mexico1
Nevada1
New York5
Ohio2
Pennsylvania3
South Carolina2
South Dakota1
Tennessee1
Texas5
Virginia2
Washington1
Total61

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