2017-08-15T19:26:25-05:00 2016-09-30 KPMG LLP 550 S Hope St Suite 1500 Los Angeles CA 90071 990 2015-10-01 061554474 Tiger Woods Charity Event Corporation % HOOD & BURCH INC TIGE 9497253003 121 Innovation Drive Suite 150 Irvine CA 92617 RICK SINGER PRES/SEC/CEO 9497253003 2017-08-15 true CAREY MCKEE P01281067 2139724000 2015 2021-01-29 14:40:06Z RICK SINGER 121 Innovation Drive Suite 150 Irvine CA 92617 60730419 false X WWW.TIGERWOODSFOUNDATION.ORG X 1999 CA OPERATES CHARITABLE EVENTS TO SUPPORT THE PROGRAMS OF THE TIGER WOODS PROGRAMS OF THE TIGER WOODS FOUNDATION, INCLUDING ITS MULTIPLE EDUCATIONAL LEARNING CENTERS & NATIONAL SCHOLARSHIP PROGRAM. 2 1 39 2543 0 1199860 1829748 57252060 57218750 4217 20014 1207196 1144032 59663333 60212544 4183057 1520600 0 0 2700690 3218113 0 0 864717 52751905 55451620 59635652 60190333 27681 22211 19330489 17543049 18552985 16743334 777504 799715 X TO FUNCTION AS A SUPPORTING ORGANIZATION IN THE FURTHERANCE OF THE CHARITABLE ACTIVITIES, EDUCATIONAL PROGRAMS FOR YOUTH, AND THE GOALS OF THE TIGER WOODS FOUNDATION, INC., A PUBLICLY SUPPORTED ORGANIZATION FORMED AND QUALIFIED UNDER SECTION 501(C)(3) OF THE IRC. false false 59161556 1522600 57218750 See Schedule O. 59161556 true true false false false false false false false false false false false true true true false true false false true false false false true true false true false true false false false false false false false false true false false false false true false false false true 110 4 true 39 true false false false false false false false false false false false X 2 1 false false false false false true false true true false false true true true true true true true true false CA X HOOD BURCH INC 7149954833 10833 VALLEY VIEW STREET STE 470 CYPRESS CA 90630 X CHRISTOPHER J HUBMAN DIRECTOR 1.0 1.0 X 0 0 0 RICK SINGER PRESIDENT/SECRETARY/CEO 40.0 25.0 X X 337950 145350 53883 JIN C THATCHER TREASURER 1.0 49.0 X 0 207405 34719 EMILY C ANDERSON-TAYLOR VP COMMNICATIONS 40.0 0.0 X 182621 0 35110 MICHELLE A BEMIS VP OF EVENTS & BUSINESS DEV 40.0 0.0 X 197367 0 17816 DANIEL F CALLAHAN CHAMPIONSHIP DIRECTOR 40.0 0.0 X 190226 0 42323 MICHAEL ANTOLINI VP CHAMPIONSHIPS 40.0 0.0 X 191891 0 28800 DANIEL SCALI DIRECTOR, MKT & PARTNERSHIPS 40.0 0.0 X 103572 0 12074 1203627 352755 224725 7 false true false EXCEL SPORTS MANAGEMENT LLC 1700 BROADWAY 29TH FLOOR NEW YORK NY 10019 MARKETING 506794 ED SHEERAN LP 232 MADISON AVE-MEZZANINE NEW YORK NY 10016 CONCERT PERFORMANCE 200000 VENUE SMART LLC 7630 STATE LINE ROAD SUITE 201 PRAIRIE VILLAGE KS 66208 EVENT MAINTENANCE 172418 ANGEL CITY DESIGN 6856 VALJEAN AVE VAN NUYS CA 91406 DECORATION SERVICES 167110 CLUB CAR LLC 15864 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 GOLF CAR RENTALS 142487 11 359595 1470153 332553 1829748 PROGRAM SERVICES 900099 57218750 57218750 57218750 20014 20014 0 0 0 0 0 0 339265 359595 324028 15237 15237 1045994 193847 852147 852147 0 REIMBURSEMENTS 900099 170161 170161 REFUNDS AND REBATES 900099 57887 57887 MISC INCOME 900099 48600 48600 276648 60212544 57218750 1164046 1520600 1520600 0 0 0 429962 257977 42996 128989 0 2225199 1664807 73797 486595 60678 43251 2779 14648 334440 238389 15317 80734 167834 121999 7309 38526 0 8945 8945 71141 54594 2639 13908 0 0 0 4194701 4127543 10710 56448 14666307 14666307 557283 556716 91 476 10980 10980 0 169672 134052 5680 29940 290882 288538 374 1970 0 95968 95496 75 397 0 0 0 134068 119689 2293 12086 TOURNAMENT PRIZES 18900000 18900000 TOURNAMENT OPERATIONS 7153591 7153591 TOURNAMENT HOSPITALITY 5436675 5436675 TOURNAMENT SITE FEES 1500589 1500589 2260818 2260818 60190333 59161556 164060 864717 599001 11774 14532523 11938957 2970956 1394969 0 0 0 0 0 0 0 0 33398 28988 910900 1965822 0 0 0 0 0 0 0 0 0 283711 2202539 19330489 17543049 8710340 5309609 3435000 875000 6170582 10193576 0 0 0 0 0 0 0 0 0 0 237063 365149 18552985 16743334 X 777504 799715 0 0 0 0 777504 799715 19330489 17543049 22211 X false true X true false X X 2 TIGER WOODS FOUNDATION INC 061468499 2 true 1517600 0 FRANCIS OUIMET CADDIE SCHOLARSHIP FUND INC 042234126 7 false 3000 0 2 1520600 0 false false false false false false false false false false false false false false false true SCHEDULE A, PART IV, LINE 1 On behalf of the Tiger Woods Foundation, the organization provided a grant to the Ouimet Fund that provides need-based undergraduate scholarships to Massachusetts youth caddies. Their mission and purpose align with the Tiger Woods Foundation, specifically its Earl Woods Scholarship program. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 DUE TO AFFILIATES 365149 365149 X 60047670 5287 5287 60042383 170161 170161 60212544 60025459 5287 5287 60020172 170161 170161 60190333 FIN 48 FOOTNOTE (ASC 740) PART X, LINE 2 THE FOUNDATION ADOPTED THE PROVISIONS OF ACCOUNTING STANDARDS CODIFICATIONS (ASC) TOPIC 740, INCOME TAXES, WHICH PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN AND PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALITIES, DISCLOSURE, AND TRANSITION. MANAGEMENT BELIEVES THAT NO SUCH UNCERTAINTY IN INCOME TAXES EXISTS REQUIRING ACCRUAL OR DISCLOSURE AT SEPTEMBER 30, 2016 OR 2015. REVENUE INCLUDED ON FORM 990, NOT ON AUDITED FINANCIAL STATEMENTS PART XI, LINE 4B GROSS-UP EXPENSES NETTED WITH MISC. REVENUE ON FINANCIALS $170,161 REVENUE ON FINANCIALS, NOT ON FORM 990 PART XI, LINE 20 RAFFLE EXPENSES REPORTED NET OF REVENUE ON FORM 990 $5,287 EXPENSES INCLUDED ON FORM 990, NOT ON AUDITED FINANCIAL STATEMENTS PART XII, LINE 4B GROSS-UP EXPENSES NETTED WITH MISC. REVENUE ON FINANCIALS $170,161 EXPENSES ON FINANCIALS, NOT ON FORM 990 PART XI, LINE 20 RAFFLE EXPENSES REPORTED NET OF REVENUE ON FORM 990 $5,287 Central America and the Caribbean 0 0 Fundraising N/A 69724 Central America and the Caribbean 0 0 Program Services GOLF TOURNAMENT 12319303 0 0 0 0 12389027 12389027 false false false false false false PART I, LINE 3, COLUMN F THE EXPENDITURES REPORTED IN COLUMN F ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING. CHARITY AUCTION 698860 359595 339265 324028 0 698860 359595 339265 324028 324028 15237 1045994 40000 119420 34427 false 1045994 40000 119420 34427 193847 852147 NV false SEE SUPPLEMENTAL PAGE false true false 1.00000 RICK SINGER 121 INNOVATION DRIVE SUITE 150 IRVINE CA 92617 true 495000 54983 MGM RESORTS INTERNATIONAL PO BOX 748137 LOS ANGELES CA 90074 RICK SINGER OVERALL SUPERVISION OF GAMING OPERATIONS X false SCHEDULE G, PART III, LINE 9B EXPLANATION A CHARITY POKER TOURNAMENT WAS HELD IN NEVADA IN CONJUNCTION WITH TIGER 2016 CHARITY FUNDRAISING EVENT. GAMING WAS OPERATED THROUGH A THIRD PARTY, MGM GRAND RESORTS INTERNATIONAL. ANOTHER CHARITY POKER TOURNAMENT AND RAFFLE WERE HELD IN CONJUNCTION WITH THE HERO WORLD CHALLENGE GOLF TOURNAMENT. GAMING WAS OPERATED THROUGH AN INTERNATIONAL THIRD PARTY, ALBANY RESORTS. SCHEDULE G, PART III, LINE 15 ADDITIONAL GAMING CONTRACTOR AMOUNT OF GAMING REVENUE RECEIVED BY ORGANIZATION: $559,884 AMOUNT OF GAMING REVENUE RETAINED BY THIRD PARTY: $69,724 NAME OF THIRD PARTY: ALBANY RESORTS ADDRESS OF THIRD PARTY: SOUTH OCEANA BOULEVARD, NEW PROVIDENCE BAHAMAS true Tiger Woods Foundation 121 Innovation Drive Suite 150 Irvine CA 92617 061468499 501(C)(3) 1517600 N/A N/A YOUTH DEVELOPMENT 1 PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS PART I, LINE 2 AS A SECTION 509(a)(3) SUPPORTING ORGANIZATION, THE ORGANIZATION OPERATES EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTION OF, OR TO CARRY OUT THE PURPOSES OF THE TIGER WOODS FOUNDATION (PROGRAMS SUCH AS LEARNING CENTERS AND SCHOLARSHIPS), WHICH INCLUDE MAKING PAYMENTS DIRECTLY TO THE BENEFICIARY ORGANIZATION, TRANSFERRING AND MONITORING THAT RESTRICTIONS ARE MET BEFORE RELEASE AND EXPENDITURE OF SUCH FUNDS. FOR GRANTS TO THE OTHER ORGANIZATIONS, THE FOUNDATION DOES REQUIRE PROGRESS REPORTS ON SELECT GRANTS ONCE THE GRANT HAS BEEN MADE. ALSO, THE FOUNDATION UTILIZES PRE-GRANT PROCEDURES AND INQUIRIES TO ENSURE THE GRANTEE ORGANIZATION MEETS THE REQUIREMENTS FOR APPROVED PROGRAMMATIC AREAS OF FUNDING. X X X X false false false false false false false false false RICK SINGER PRESIDENT/SECRETARY/CEO 337950 145350 10600 0 43283 0 391833 145350 0 0 JIN C THATCHER TREASURER 169499 30000 7906 0 6780 0 27939 0 242124 0 0 EMILY C ANDERSON-TAYLOR VP COMMNICATIONS 160445 20000 2176 6466 0 28644 0 217731 0 0 0 MICHELLE A BEMIS VP OF EVENTS & BUSINESS DEV 160054 25000 12313 6403 0 11413 0 215183 0 0 0 DANIEL F CALLAHAN CHAMPIONSHIP DIRECTOR 154824 30000 5402 6242 0 36081 0 232549 0 0 0 MICHAEL ANTOLINI VP CHAMPIONSHIPS 157755 25000 9136 6334 0 22466 0 220691 0 0 0 COMPENSATION FROM RELATED ORGANIZATIONS THE PRESIDENT, SECRETARY AND CEO, RICK SINGER WAS COMPENSATED THROUGH TIGER WOODS CHARITY EVENT CORPORATION AND RELATED 501(C)(3) ORGANIZATION, TIGER WOODS FOUNDATION, INC., WHERE HE DEVOTED A COMBINED TOTAL OF 65 HOURS PER WEEK. IN CONJUNCTION WITH HIS DUTIES AS PRESIDENT AND CEO OF THE TIGER WOODS FOUNDATION, HE OVERSAW ALL FIVE TIGER WOODS LEARNING CENTERS AND ALL THE NATIONAL SCHOLARSHIP PROGRAMS. FORM 990, SCHEDULE J, PART I, LINE 3: THE ORGANIZATION RELIED ON A RELATED ORGANIZATION, TIGER WOODS FOUNDATION, INC., THAT USED ONE OR MORE OF THE FOLLOWING METHODS DESCRIBED IN SCHEDULE J, PART I, LINE 3, TO ESTABLISH THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL'S COMPENSATION: COMPENSATION COMMITTEE INDEPENDENT COMPENSATION CONSULTANT COMPENSATION SURVEY AND STUDY APPROVAL BY THE BOARD AND COMPENSATION COMMITTEE X 4 13650 RETAIL VALUE X 12700 RETAIL VALUE X 2 85640 RETAIL VALUE X 34 40906 RETAIL VALUE X SPORTS EQUIPMENT 2 164957 RETAIL VALUE X WINE 1 200 RETAIL VALUE X SPORTING & EVENT TICKETS 7 4950 RETAIL VALUE X JEWELRY 5 9550 RETAIL VALUE 0 false false false PART I, COLUMN (b) NUMBER OF CONTRIBUTIONS OR ITEMS RECEIVED THE NUMBERS REPORTED IN COLUMN (b) REPRESENT THE NUMBER OF CONTRIBUTIONS RECEIVED NOT THE NUMBER OF ITEMS PROGRAM SERVICE ACCOMPLISHMENTS FORM 990, PART III, LINE 4 TIGER WOODS INVITATIONAL PRESENTED BY USLI THE INVITATIONAL PRESENTED BY USLI FEATURES THREE DAYS OF UNPARALLELED GOLF ON THE MONTEREY PENINSULA. THIS UNIQUE EVENT RAISES FUNDS FOR THE TIGER WOODS FOUNDATION AND ITS FIRST-GENERATION SCHOLARS. THE 2015 TIGER WOODS INVITATIONAL WAS HELD OCT. 12-14 AND FEATURED 112 AMATEUR GOLFERS WHO COMPETED ON SPYGLASS HILL GOLF COURSE, MONTEREY PENINSULA COUNTRY CLUB AND PEBBLE BEACH GOLF LINKS. IN ADDITION TO THE GOLF, GUESTS WERE ALSO TREATED TO AN EVENING RECEPTION, WHICH FEATURED REMARKS FROM TIGER WOODS FOUNDATION PRESIDENT & CEO RICK SINGER AND EARL WOODS SCHOLAR KEVIN NGUYEN. PROCEEDS FROM THE EVENT SUPPORTED MORE THAN 130 FIRST-GENERATION EARL WOODS SCHOLARS ATTENDING PRESTIGIOUS UNIVERSITIES ACROSS THE COUNTRY. HERO WORLD CHALLENGE HELD DEC. 2-DEC. 6, 2015, THE HERO WORLD CHALLENGE TOOK PLACE AT ALBANY, BAHAMAS FOR THE FIRST TIME IN PARTNERSHIP WITH TAVISTOCK GROUP. THE TOURNAMENT FEATURED 18 OF THE WORLD'S TOP RANKED PGA TOUR GOLFERS. THE 2015 WORLD CHALLENGE LIVED UP TO THE BUILD-UP AND EXCITEMENT OF TOP PLAYERS, AS BUBBA WATSON BESTED PATRICK REED, RICKIE FOWLER AND JORDAN SPIETH. PROCEEDS FROM THE EVENT SUPPORTED TIGER WOODS FOUNDATIONS COLLEGE ACCESS PROGRAMS INCLUDING THE TIGER WOODS LEARNING CENTERS AND THE EARL WOODS SCHOLARHSIP PROGRAM. TIGER JAM THE 18TH ANNUAL, SOLD-OUT TIGER JAM ROCKED LAS VEGAS APRIL 29-30, 2016 AT THE MGM GRAND. THE EVENT BENEFITS THE TIGER WOODS FOUNDATION'S COLLEGE-ACCESS PROGRAMS. TIGER JAM BEGAN ON APRIL 29 WITH AN EXCLUSIVE GOLF CLINIC, HOSTED BY TIGER WOODS, FOR GUESTS AT BEAUTIFUL SHADOW CREEK. GUESTS HAD THE OPPORTUNITY TO KNOCK OUT THE WORLD'S TOP POKER PLAYERS FRIDAY NIGHT AT TIGER'S POKER NIGHT, PRESENTED BY THE WORLD POKER TOUR. POKER LEGEND PHIL HELLMUTH CO-HOSTED THIS EXCITING NIGHT WITH WOODS, WHICH INCLUDED CELEBRITY PARTICIPANT ANDY RODDICK, PROFESSIONAL POKER PLAYERS DAVID WILLIAMS AND MARIA HO, AND WPT COMMENTATORS LYNN GILMARTIN AND VINCE VAN PATTEN. EVENING FESTIVITIES ON APRIL 30 BEGAN WITH THE EARL WOODS SCHOLAR PROGRAMS FIRST DOCTOR, EVAN CHANG, ATTENDING UCLA FOR RESIDENCY TRAINING IN ANESTHESIOLOGY, SHARING HIS EXPERIENCE WITH THE TIGER WOODS FOUNDATION. A LIVE AUCTION WAS EMCEED BY CHRIS HARRISON (THE HOST OF "THE BACHELOR") AND ENDED WITH A PRIVATE CONCERT BY ARTIST JASON MRAZ FOLLOWED BY AN AFTERPARTY WITH DJ SUGA RAY. QUICKEN LOANS NATIONAL HELD AT CONGRESSIONAL COUNTRY CLUB IN BETHESDA, MD FROM JUNE 22-JUNE 26, 2016, THIS PREMIER PGA TOUR EVENT WELCOMED 120 PRO GOLFERS TO COMPETE FOR THE PRESTIGIOUS QUICKEN LOANS NATIONAL TROPHY. BILLY HURLEY III, A GRADUATE OF THE NAVAL ACADEMY AND MARYLAND RESIDENT, CAPTURED HIS FIRST PGA TOUR WIN FINISHING 17-UNDER AND THREE STROKES AGAINST THE GOLF LEGEND VIJAY SINGH. HURLEY, THE ONLY VETERAN ON THE PGA TOUR, IS THE FIRST CHAMPION OF THE NATIONAL TO WIN WHILE PLAYING IN THE TOURNAMENT AS A SPONSOR EXEMPTION. CONTINUING ITS HISTORY OF MILITARY RECOGNITION, THE NATIONAL HONORED OUR NATION'S MILITARY BY PROVIDING 30,000 FREE TICKETS, HOSPITALITY, AND THE "WE SALUTE OUR HEROES" TRIBUTE WALL. PROCEEDS FROM THE QUICKEN LOANS NATIONAL BENEFIT THE TIGER WOODS FOUNDATION AND ITS FIRST-GENERATION EARL WOODS SCHOLARS AND THREE TIGER WOODS LEARNING CENTER CAMPUSES IN WARDS 6 & 7 AND AT THE MARINE CORPS BASE AT QUANTICO. DEUTSCHE BANK CHAMPIONSHIP HELD ANNUALLY OVER LABOR DAY WEEKEND, THE DEUTSCHE BANK CHAMPIONSHIP, RETURNED AS THE SECOND STOP ON THE FEDEXCUP PLAYOFFS. RORY MCILROY CAPTURED HIS SECOND VICTORY AT TPC BOSTON IN THE 2016 CHAMPIONSHIP WITH A FINAL ROUND THAT HELD OFF PAUL CASEY. AS THE SECOND STOP ON THE PGA TOUR FEDEXCUP, THE DEUTSCHE BANK CHAMPIONSHIP WELCOMED THE TOP 100 PLAYERS IN PLAYOFFS TO BOSTON, AND WAS HELD AUGUST 31 THRU SEPTEMBER 5, 2016. THE WIN CATAPULTED MCILROY TO THE TOP OF THE FEDEXCUP RANKINGS. PROCEEDS FROM THE EVENT SUPPORTED THE COLLEGE ACCESS PROGRAMS OF THE TIGER WOODS FOUNDATION INCLUDING THE LOCAL BOSTON SCHOLARS SELECTED IN COLLABORATION WITH THE BOSTON RED SOX FOUNDATION. MEMBERS OF THE ORGANIZATION FORM 990, PART VI, LINE 7A THE ORGANIZATION HAS A SOLE MEMBER. THE MEMBER'S CLASS IS NONVOTING. THE MEMBER ELECTS AND DESIGNATES THE BOARD OF GOVERNORS. ALL CORPORATE POWERS ARE MANAGED UNDER THE DIRECTION OF THE BOARD OF governors. CONTRIBUTION OF CARS, BOATS, AIRPLANES OR OTHER VEHICLES FORM 990, PART V, LINE 7H THE ORGANIZATION RECEIVED CONTRIBUTIONS OF TWO AUTOMOBILES FROM DEALERS, THEREFORE THESE DONATIONS WERE NOT OF QUALIFIED VEHICLES AND 1098-C FORM REPORTING WAS NOT REQUIRED. PROCESS FOR REVIEW OF FORM 990 FORM 990, PART VI, LINE 11 The Board of governors has delegated the review of the Form 990 to the Audit Committee. The organization's Executive Staff works closely with the outside accounting firm it engages to review the return; and the final draft of Form 990 is also reviewed by the treasurer/CFO prior to providing the draft to the Audit Committee. In addition to consulting with the treasurer/CFO and Executive Staff, the Audit Committee also meets with the accounting firm hired to prepare the Form 990. Subsequent to its review, the Audit Committee reports back to the Board regarding its oversight of the Form 990 and the final draft is provided to the entire Board before the return is filed. CONFLICT OF INTEREST POLICY FORM 990, PART VI, LINE 12C Pursuant to the Conflict of Interest Policy, an annual conflict of interest questionnaire, aimed at determining any family and business relationship transactions or other transactions that may pose a potential conflict, is distributed to all covered persons (i.e., board members, officers and executive leadership or key employees). Covered persons are required to disclose real or potential conflicts at the time when such conflicts arise. When someone becomes a covered person and annually thereafter, each covered person is required to sign a statement affirming that he/she: (1) has received a copy of the Conflict of Interest Policy; (2) has read the Policy and understands said Policy; and (3) agrees to comply with all requirements of the Policy, including completing the conflict of interest questionnaire. The procedures for addressing any conflict of interest includes, but is not limited to, the following: (1) the conflicting interest is fully disclosed to the Board; (2) the interested person responds to factual questions related to the substance of the transaction or arrangement being considered, after which he/she shall leave the meeting; (3) the person with the conflict of interest is excluded from the discussion and approval of such transaction; (4) alternatives to the proposed transaction are investigated, competitive bids or comparable valuations are obtained; (5) any conflicting issues during the course of a Board meeting which cannot be resolved is referred to the Governance Committee; and (6) the transaction or action must be approved by a majority of disinterested persons. COMPENSATION DETERMINATION PROCESS FORM 990, PART VI, LINE 15A The Board appoints a COMPENSATION Committee, none of which have a conflict of interest with respect to the compensation arrangement, to be accountable for setting reasonable compensation packages for each officer or key employee, including the CEO. The COMPENSATION Committee develops, consistent with the organization's philosophy and principles, the annual performance goals and criteria to be used in determining merit increases and variable compensation criteria for officers and key employees. The COMPENSATION Committee also hires a qualified independent compensation and benefits specialist (independent expert) to review, analyze and provide benchmarking data for the total compensation and benefits packages of officers and key employees. Appropriate comparability data is obtained from the independent experts, (i.e., total economic benefits paid by similarly situated organizations, both taxable and tax-exempt) for similar job responsibilities. The Committee's written records include the (1) terms of the arrangement with the disqualified person (including the date the arrangement was approved); and (2) a description of the comparable data relied on by the Committee. Key deliberations of the Committee, including: (A) The terms of the transaction that was approved and the date it was approved; (B) The members of the authorized body who were present during debate on the transaction that was approved and those who voted on it; (C) The comparability data obtained and relied upon by the authorized body and how the data was obtained; and (D) Any actions taken with respect to consideration of the transaction by anyone who is otherwise a member of the authorized body but who had a conflict of interest with respect to the transaction are also documented in minutes, which are approved at the next Committee meeting. COMPENSATION DETERMINATION PROCESS (OTHER OFFICERS OR KEY EMPLOYEES) FORM 990, PART VI, LINE 15B THE COMPENSATION REVIEW AND APPROVAL PROCESS FOR OTHERS OFFICERS AND KEY EMPLOYEES IS THE SAME AS FOR THE CEO. AVAILABILITY OF DOCUMENTS FORM 990, PART VI, LINE 19 While federal tax laws do not mandate that the organization's governing documents, conflict of interest policy and financial statements be made available for public inspection, the organization makes its audited financial statements that were prepared in accordance with generally accepted accounting principles (GAAP) available upon request. Audit of Financial Statements by Independent Accountant FORM 990, PART XII, LINE 2C The Tiger Woods Charity Event Corporation's financial statements were included in the consolidated audited financial statements of The Tiger Woods Foundation Inc., and Affiliates. The consolidated audited financial statements were audited by KPMG, an independent accounting firm, and were prepared according to GAAP. 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