2016-08-15T19:12:17-05:00 2015-09-30 KPMG LLP 550 S Hope St Suite 1500 Los Angeles CA 90071 990 2014-10-01 061554474 Tiger Woods Charity Event Corporation % HOOD & BURCH INC TIGE 9497253003 121 Innovation Drive Suite 150 Irvine CA 92617 JIN THATCHER TREASURER 9497253003 2016-02-08 true CAREY MCKEE MANAGER P01281067 2139724000 2014 2016-09-27 15:27:22Z RICK SINGER 121 INNOVATION DRIVE STE 150 IRVINE CA 92617 60166475 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 52 2904 0 2091522 1199860 54014535 57252060 4415 4217 1017705 1207196 57128177 59663333 4767132 4183057 0 0 2845653 2700690 0 0 652540 49495709 52751905 57108494 59635652 19683 27681 17791437 19330489 17041614 18552985 749823 777504 X TO FUNCTION AS A SUPPORTING ORGANIZATION IN FURTHERANCE OF THE CHARITABLE ACTIVITIES, EDUCATIONAL PROGRAMS FOR YOUTH, AND GOALS OF THE TIGER WOODS FOUNDATION, INC., A PUBLICLY SUPPORTED ORGANIZATION FORMED AND QUALIFIED UNDER SECTION 501(C)(3) OF THE IRC. false false 58810600 4183057 57252060 See Schedule O. 58810600 true true false false false false false false false false false false false false true true false true false false false 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 139 2 true 52 true false false false false false true true 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 CHRIS HUBMAN DIRECTOR 1.0 0.0 X 0 0 0 RICK SINGER PRESIDENT/SECRETARY/CEO 40.0 25.0 X X 309604 77188 21343 JIN C THATCHER TREASURER 1.0 49.0 X 0 200068 34679 EMILY C ANDERSON-TAYLOR VP OF COMMUNICATIONS & MKTG 40.0 0.0 X 182005 0 36277 MICHELLE A BEMIS VP OF EVENTS & BUSINESS DEV 40.0 0.0 X 192346 0 18606 DANIEL F CALLAHAN CHAMPIONSHIP DIRECTOR 40.0 0.0 X 198824 0 43268 MICHAEL ANTOLINI VP CHAMPIONSHIPS 40.0 0.0 X 162218 0 30258 DANIEL SCALI DIRECTOR, MKT & PARTNERSHIPS 40.0 0.0 X 109578 0 12483 GREGORY T MCLAUGHLIN FORMER PRESIDENT/SECRETARY/CEO 0.0 0.0 X 248599 52448 23273 1403174 329704 220187 8 true true false EXCEL SPORTS MANAGEMENT LLC 1700 BROADWAY 29TH FLOOR NEW YORK NY 10019 MARKETING 437000 CLUB CAR LLC 15864 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 GOLF CART RENTALS 131180 ANGEL CITY DESIGN 6856 VALJEAN AVE VAN NUYS CA 91406 DECORATION SERVICES 113711 3 X 105514 1094346 349449 1199860 PROGRAM SERVICES 900099 57252060 57252060 57252060 4217 4217 0 0 0 0 0 0 565166 105514 304354 260812 260812 832152 198788 633364 633364 0 REIMBURSEMENTS 900099 216988 216988 REFUNDS AND REBATES 900099 49713 49713 MISC INCOME 900099 46319 46319 313020 59663333 57252060 1211413 4183057 4183057 0 0 0 337488 202493 33749 101246 0 1864516 1390605 93569 380342 58137 41260 3529 13348 300028 212930 18212 68886 140521 102249 8002 30270 0 135391 135391 68202 53992 2970 11240 0 0 0 3916065 3914957 232 876 14122770 14122770 758580 756355 465 1760 36420 36420 0 144101 113445 6410 24246 370044 370044 0 93111 92849 55 207 0 0 0 87625 62187 5319 20119 TOURNAMENT PRIZES 18450000 18450000 TOURNAMENT OPERATIONS 6360493 6360493 TOURNAMENT HOSPITALITY 5918742 5918742 OTHER EXP - TOURNAMENTS 1915530 1915530 374831 374831 59635652 58810600 172512 652540 233773 599001 14663607 14532523 1405265 2970956 0 0 0 0 0 0 0 0 20555 33398 782690 910900 0 0 0 0 0 0 0 0 0 685547 283711 17791437 19330489 7798631 8710340 4250000 3435000 4279994 6170582 0 0 0 0 0 0 0 0 0 0 712989 237063 17041614 18552985 X 749823 777504 0 0 0 0 749823 777504 17791437 19330489 X 27681 X false true X true false X X 2 TIGER WOODS FOUNDATION INC 061468499 2 true 4030748 0 WORLD GOLF FOUNDATION INC 592998925 7 true 150000 0 2 4180748 0 false false false false false true false false false false false false false false false true SCHEDULE A, PART IV, LINE 1 THE ORGANIZATION HAS PROVIDED GRANTS TO SUPPORT THE WORLD GOLF FOUNDATION, INC. SINCE ITS FISCAL YEAR ENDED 09/30/07. THE WORLD GOLF FOUNDATION FOCUSES ON POSITIVELY IMPACTING THE LIVES OF YOUNG PEOPLE WHILE ALSO FOSTERING DIVERSITY. THE MISSION OF THE WORLD GOLF FOUNDATION ALIGNS WITH THE CHARITABLE MISSION OF THE TIGER WOODS FOUNDATION. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 DUE TO AFFILIATES 237063 237063 X 59446345 59446345 216988 216988 59663333 59418664 59418664 216988 216988 59635652 FIN 48 FOOTNOTE (ASC 740) SCHEDULE D, PART X, LINE 2 THE FOUNDATION ADOPTED THE PROVISIONS OF ACCOUNTING STANDARDS CODIFICATION (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 PENALTIES, DISCLOSURE, AND TRANSITION. MANAGEMENT BELIEVES THAT NO SUCH UNCERTAIN TAX POSITIONS EXIST REQUIRING ACCRUAL OR DISCLOSURE AT SEPTEMBER 30, 2015 OR 2014. REVENUE INCLUDED ON FORM 990, NOT ON AUDITED FINANCIAL STATEMENTS PART XI, LINE 4B GROSS-UP EXPENSES NETTED WITH MISC. REVENUE ON FINANCIALS $216,988 EXPENSES INCLUDED ON FORM 990, NOT ON AUDITED FINANCIAL STATEMENTS PART XII, LINE 4B GROSS-UP EXPENSES NETTED WITH MISC. REVENUE ON FINANCIALS $216,988 AUCTIONS 670680 105514 565166 304354 0 670680 105514 565166 304354 304354 260812 832152 111120 49707 37961 false 832152 111120 49707 37961 198788 633364 FL NV false THE CHARITY POKER TOURNAMENT HELD IN NEVADA IN CONJUNCTION WITH TIGER JAM 2015 CHARITY FUNDRAISING EVENT. GAMING WAS OPERATED THROUGH A THIRD PARTY, MGM GRAND RESORTS INTERNATIONAL. false true false 1.00000 RICK SINGER 121 INNOVATION DRIVE SUITE 150 IRVINE CA 92617 true 528500 49707 MGM RESORTS INTERNATIONAL PO BOX 748137 LOS ANGELES CA 900748137 RICK SINGER OVERALL SUPERVISION OF GAMING OPERATIONS X false ADDITIONAL THIRD PARTY GAMING FACILITATOR SCHEDULE G, PART III, LINE 15C ISLEWORTH GOLF COURSE 6100 PAYNE STEWART DR WINDERMERE, FL 34786 true Tiger Woods Foundation 121 Innovation Drive Suite 150 Irvine CA 92617 061468499 501(C)(3) 4030748 N/A N/A YOUTH DEVELOPMENT World Golf Foundation Inc One World Golf Place St Augustine FL 320922727 592998925 501(C)(3) 150000 N/A N/A GOLF EDUCATION 2 PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS SCHEDULE I, PART I, LINE 2 AS A SECTION 509(A)(3) SUPPORTING ORGANIZATION, THE ORGANIZATION OPERATES EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE EXEMPT 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 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 EMILY C ANDERSON-TAYLOR VP OF COMMUNICATIONS & MKTG 157275 0 20000 0 4730 0 6339 0 29938 0 218282 0 0 0 MICHELLE A BEMIS VP OF EVENTS & BUSINESS DEV 155391 0 25000 0 11955 0 6216 0 12390 0 210952 0 0 0 DANIEL F CALLAHAN CHAMPIONSHIP DIRECTOR 153279 0 40000 0 5545 0 6180 0 37088 0 242092 0 0 0 MICHAEL ANTOLINI VP CHAMPIONSHIPS 154650 0 5000 0 2568 0 6210 0 24048 0 192476 0 0 0 JIN C THATCHER TREASURER 0 164955 0 30000 0 5113 0 6647 0 28032 0 234747 0 0 GREGORY T MCLAUGHLIN FORMER PRESIDENT/SECRETARY/CEO 115390 52448 90000 0 43209 0 0 4167 19106 0 267705 56615 0 0 RICK SINGER PRESIDENT/SECRETARY/CEO 179604 77188 130000 0 0 0 2600 0 18743 0 330947 77188 0 0 Compensation from Related Organizations THE PRESIDENT, SECRETARY AND CEO, RICK SINGER, AND THE FORMER PRESIDENT, SECRETARY AND CEO, GREGORY T. MCLAUGHLIN, WHO RESIGNED IN JUNE 2014, WERE COMPENSATED THROUGH TIGER WOODS CHARITY EVENT CORPORATION AND A 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 2 12300 RETAIL VALUE X 26944 RETAIL VALUE X 1 42000 RETAIL VALUE X 1 93000 RETAIL VALUE X 17 10045 RETAIL VALUE X SPORTING GOODS 4 156510 RETAIL VALUE X SPORTS & ENT TICKETS 2 8000 RETAIL VALUE X FOOD & WINE 1 650 RETAIL VALUE 0 false true false PART I, COLUMN B THE CORPORATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. PROGRAM SERVICE ACCOMPLISHMENTS FORM 990, PART III, LINE 4 TIGER WOODS INVITATIONAL PRESENTED BY USLI THE TIGER WOODS 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. HELD OCT. 13-15, 2014, THE TIGER WOODS INVITATIONAL FEATURED 120 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 HOST TIGER WOODS AND LEO TUCKER, FOUNDATION BOARD MEMBER AND MENTOR TO AN EARL WOODS SCHOLAR. PROCEEDS FROM THE EVENT SUPPORTED NEARLY 100 FIRST-GENERATION EARL WOODS SCHOLARS ATTENDING PRESTIGIOUS UNIVERSITIES ACROSS THE COUNTRY. HERO WORLD CHALLENGE HELD DEC. 1-7, 2014, THE HERO WORLD CHALLENGE TOOK PLACE AT BEAUTIFUL ISLEWORTH GOLF AND COUNTRY CLUB IN ORLANDO, FL, AND FEATURED 18 OF THE WORLD'S BEST PGA TOUR GOLFERS. THE 16TH WORLD CHALLENGE PROVED TO BE A CROWNING MOMENT FOR ONE OF THE GAMES YOUNGEST STARS AS JORDAN SPIETH CRUISED TO A 10-STROKE VICTORY. BEING PLAYED IN FLORIDA FOR THE FIRST TIME IN THE TOURNAMENT'S HISTORY, THE 2014 WORLD CHALLENGE WAS THE FIRST WITH NEW TITLE SPONSOR HERO MOTO CORP. PROCEEDS FROM THE EVENT SUPPORTED NEARLY 100 EARL WOODS SCHOLARS AND THE TIGER WOODS LEARNING CENTERS, INCLUDING THE JUPITER, FLORIDA LOCATION. TIGER JAM THE 17TH ANNUAL, SOLD-OUT TIGER JAM ROCKED LAS VEGAS MAY 15-16, 2015 AT THE MGM GRAND. THE TWO-DAY CHARITY EVENT RAISED MORE THAN $1 MILLION FOR THE TIGER WOODS FOUNDATION'S COLLEGE-ACCESS PROGRAMS. TIGER JAM BEGAN ON MAY 15 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 MARK CUBAN, PROFESSIONAL POKER PLAYERS ANTONIO ESFANDIARI AND DANIEL NEGREANU, AND WPT COMMENTATORS MIKE SEXTON AND VINCE VAN PATTEN. EVENING FESTIVITIES ON MAY 16 BEGAN WITH EARL WOODS SCHOLARSHIP PROGRAM RECIPIENT KEVIN NGO, WHO RECENTLY GRADUATED FROM UC SAN DIEGO WITH A DEGREE IN COMPUTER SCIENCE AND IS NOW WORKING FOR MICROSOFT, SHARING HIS EXPERIENCE WITH THE TIGER WOODS FOUNDATION. A LIVE AUCTION EMCEED BY CHRIS HARRISON, THE HOST OF "THE BACHELOR" FOLLOWED AND THE NIGHT ENDED WITH A PRIVATE CONCERT BY HIT SINGER ED SHEERAN FOLLOWED BY AN AFTERPARTY AT HAKKASAN. QUICKEN LOANS NATIONAL HELD AT ROBERT TRENT JONES GOLF CLUB IN GAINESVILLE, VA FROM JULY 30-AUGUST 2, 2015, THIS PREMIER PGA TOUR EVENT WELCOMED 120 PRO GOLFERS TO COMPETE FOR THE PRESTIGIOUS QUICKEN LOANS NATIONAL TROPHY. WITH A RECORD-SETTING THIRD ROUND, TROY MERRITT CAPTURED HIS FIRST PGA TOUR WIN FINISHING 18-UNDER AND THREE STROKES AHEAD OF OF RICKIE FOWLER. MERRITT SET TOURNAMENT RECORDS FOR LOWEST ROUND AND LOWEST FINISH BY A CHAMPION. 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. MORE THAN 500 MEMBERS OF THE MEDIA COVERED THE EVENT, WITH MAJOR OUTLETS FEATURING TIGER WOODS FOUNDATION SCHOLARS. PROCEEDS FROM THE QUICKEN LOANS NATIONAL BENEFIT THE TIGER WOODS FOUNDATION AND ITS FIRST GENERATION SCHOLARS, INCLUDING 25 WASHINGTON, D.C.-AREA EARL WOODS SCHOLARSHIP RECIPIENTS 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. RICKIE FOWLER CAPTURED HIS FIRST PLAYOFF VICTORY IN THE 2015 CHAMPIONSHIP WITH A FINAL ROUND THAT HELD OFF HENRIK STENSON. THE DEUTSCHE BANK CHAMPIONSHIP WELCOMED THE TOP 100 PLAYERS IN THE WORLD TO TPC BOSTON, AND WAS HELD SEPTEMBER 4-7, 2015. DURING THE FINAL ROUND, FOWLER WAS ABLE TO SECURE VICTORY AS STENSON MISPLAYED HIS TEE SHOT ON THE 16TH HOLE AND FOUND HIMSELF IN THE WATER ON THE SIGNATURE PAR-3 HOLE. PROCEEDS FROM THE EVENT SUPPORTED NEARLY 100 EARL WOODS SCHOLARS, INCLUDING SCHOLARS FROM THE LOCAL BOSTON AREA, AND THE TIGER WOODS LEARNING CENTERS ON THE WEST COAST AND EAST COAST. THE BOSTON EARL WOODS SCHOLARS ARE SELECTED VIA A PARTNERSHIP 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 AN AUTOMOBILE AND A BOAT 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 ACCCOUNTING 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 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. 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. 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. ANNUALLY THE COMPENSATION COMMITTEE APPROVES THE COMPENSATION. INCENTIVE COMPENSATION IS DETERMINED BY THE COMPENSATION COMMITTEE AT THE END OF THE CALENDAR YEAR BASED ON THE EMPLOYEE'S PERFORMANCE AGAINST STATED GOALS FOR THAT YEAR. THE COMMITTEE'S WRITTEN RECORDS INCLUDE THE (1) TERMS OF THE ARRANGEMENT WITH THE DISQUALIFIED PERSON (INCLUDING THE DATE THE ARRANGEMENT WAS APPROVED); (2) A DESCRIPTION OF THE COMPARABLE DATA RELIED ON BY THE COMMITTEE; (3) 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 OTHER OFFICERS AND KEY EMPLOYEES IS THE SAME AS FOR THE CEO. AVAILABILITY OF DOCUMENTS FORM 990, PARTS 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, PARTS IV, LINE 12B & 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 IN ACCORDANCE WITH GAAP. TIGER WOODS FOUNDATION INC 1 TIGER WOODS WAY ANAHEIM CA 92801 200677815 EDUCATION CA 501(C)(3) 2 NA false false true false false false false false false false false false false true false true true false false