2015-08-17T16:33:12-05:00 2014-09-30 KPMG LLP 550 S Hope St Suite 1500 Los Angeles CA 90071 990 2013-10-01 061554474 TIGER WOODS CHARITY EVENT CORPORATION % HOOD & BURCH INC TIGE 9497253003 121 INNOVATION DRIVE SUITE 150 Suite IRVINE CA 92617 Rick Singer President 9497253003 2015-08-16 true CAREY MCKEE P01281067 9497253003 2013 2016-03-07 17:11:31Z RICK SINGER 121 INNOVATION DRIVE STE 150 IRVINE CA 92617 57203807 false X WWW.TIGERWOODSFOUNDATION.ORG X 1999 CA OPERATES CHARITABLE EVENTS TO SUPPORT THE PROGRAMS OF THE TIGER WOODS FOUNDATION, INCLUDING ITS MULTIPLE EDUCATIONAL LEARNING CENTERS & NATIONAL SCHOLARSHIP PROGRAM. 2 1 50 2800 0 0 4843775 2091522 44624334 54014535 2222 4415 367488 1017705 49837819 57128177 2276802 4767132 0 0 2447336 2845653 0 0 809014 44619649 49495709 49343787 57108494 494032 19683 12181098 17791437 11450958 17041614 730140 749823 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 & QUALIFIED UNDER SECTION 501(C)(3) OF THE IRC. false false 56062686 4767132 54014535 SEE SCHEDULE O 56062686 true true false false false false false false false false false false false false true true false true false false false false false false false true false true false true false false false false false false false false true false false false false true false false false true 117 1 true 50 true false false false false false true true 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 SUITE 470 CYPRESS CA 90630 X CHRIS HUBMAN DIRECTOR 1.0 0.0 X 0 0 0 GREGORY T MCLAUGHLIN PRES, SEC & CEO (THRU 06/14) 40.0 25.0 X X 285367 121150 53145 RICK SINGER PRES, SEC & CEO (FROM 06/14) 40.0 25.0 X X 0 0 0 JIN THATCHER TREASURER 1.0 49.0 X 0 161507 36110 EMILY C ANDERSON-TAYLOR VP MARKETING & COMMUNICATIONS 40.0 0.0 X 154168 0 39152 MICHELLE A BEMIS VP EVENTS & BUSINESS DEVELOP 40.0 0.0 X 164049 0 21252 DANIEL F CALLAHAN SR DIRECTOR, EVENT SALES 40.0 0.0 X 154536 0 46692 ERIC D BALDWIN VP CHAMPIONSHIP DIRECTOR 40.0 0.0 X 137861 0 29167 895981 282657 225518 5 false true false EXCEL SPORTS MANAGEMENT LLC 1700 BROADWAY 29TH FLOOR NEW YORK NY 10019 MARKETING 212000 CLUB CAR LLC 15864 COLLECTIONS CENTER DRIVE CHICAGO IL 60693 GOLF CART RENTALS 129558 FENWAY SPORTS MANAGEMENT 301 YAMATO RD SUTE 2200 BOCA RATON FL 33431 MARKETING 108400 ANGEL CITY DESIGN 6856 VALJEAN AVE VAN NUYS CA 91406 DECORATION SERVICES 101891 4 X 2091522 276054 2091522 PROGRAM SERVICES 900099 54014535 54014535 54014535 4415 4415 0 0 0 0 0 0 0 576940 75630 501310 501310 0 0 REIMBURSEMENTS 900099 443599 443599 REFUNDS AND REBATES 900099 44155 44155 MISC INCOME 900099 28641 28641 516395 57128177 54014535 0 1022120 4767132 4767132 0 0 0 569662 341797 56966 170899 0 1801129 1317936 104024 379169 56803 38865 4061 13877 267172 182798 19103 65271 150887 106581 10031 34275 0 10327 10327 62315 48071 3225 11019 0 0 0 3641449 3538400 23331 79718 13256621 13256621 530978 528340 597 2041 48234 48234 0 148627 117342 7083 24202 305464 305464 0 63084 51729 2586 8769 0 0 0 81539 55978 5787 19774 TOURNAMENT PRIZES 18000000 18000000 0 TOURNAMENT OPERATIONS 6289492 6289492 0 TOURNAMENT HOSPITALITY 3863501 3863501 0 TOURNAMENT SITE FEES 1638091 1638091 0 1555987 1555987 57108494 56062686 236794 809014 2459013 233773 7487998 14663607 1296797 1405265 0 0 0 0 0 0 0 0 3236 20555 793484 782690 0 0 0 0 0 0 0 0 0 140570 685547 12181098 17791437 6884327 7798631 1500000 4250000 2603259 4279994 0 0 0 0 0 0 0 0 0 0 463372 712989 11450958 17041614 X 730140 749823 0 0 0 0 730140 749823 12181098 17791437 X 19683 X X false true X true false X X X false false false TIGER WOODS FOUNDATION INC 200677815 02 true 4702198 1 4702198 AMOUNT OF SUPPORT SCHEDULE A, PART I, LINE 11H, COLUMN VII IN ADDITION TO THE $4,702,198 OF DIRECT GRANTS PAID, THE ORGANIZATION EXPENDED $52,406,296 PRODUCING CHARITY EVENTS (I.E. GOLF TOURNAMENTS AND CONCERTS) ALONG WITH VARIOUS FUNDRAISING AND ADMINISTRATION COSTS IN SUPPORT OF THE TIGER WOODS FOUNDATION, INC. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 DUE TO AFFILIATE 712989 712989 X 56684578 248824 248824 56435754 692423 692423 57128177 56664895 56664895 443599 443599 57108494 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, 2014 OR 2013. REVENUE INCLUDED ON FORM 990, NOT ON AUDITED FINANCIAL STATEMENTS PART XI, LINE 4B GROSS-UP MISC. REVENUE NETTED AGAINST EXPENSES ON FINANCIALS $443,599 IN-KIND SERVICES REPORTED NET IN PROGRAM SERVICE REVENUE $248,824 ---------- TOTAL $692,423 EXPENSES INCLUDED ON FORM 990, NOT ON AUDITED FINANCIAL STATEMENTS PART XII, LINE 4B GROSS-UP EXPENSES NETTED WITH MISC. REVENUE ON FINANCIALS $443,599 576940 16276 14400 35151 9803 false 576940 16276 14400 35151 9803 75630 501310 MA NV false TIGER WOODS CHARITY EVENT CORP WAS REGISTERED TO OPERATE A CHARITY RAFFLE IN THE STATE OF MASSACHUSETTS. THE CHARITY POKER TOURNAMENT HELD IN NEVADA WAS IN CONJUNCTION WITH TIGER JAM 2014 CHARITY FUNDRAISING EVENT. GAMING WAS OPERATED THROUGH A THIRD PARTY, MANDALAY BAY RESORT AND CASINO. false FUNDRAISING EVENT. GAMING WAS OPERATED THROUGH A THIRD PARTY, MANDALAY BAY RESORT AND CASINO. GAMING WAS OPERATED THROUGH A THIRD PARTY, MANDALAY BAY RESORT AND CASINO. true false 1.00000 RICK SINGER 121 INNOVATION DRIVE SUITE 150 IRVINE CA 92617 true 576940 41580 MANDALAY BAY RESORT AND CASINOMGM 111 E HARMON AVE LAS VEGAS NV 89109 RICK SINGER 0 OVERALL SUPERVISION OF GAMING OPERATIONS X false ADDITIONAL THIRD PARTY GAMING FACILITATOR SCHEDULE G, PART III, LINE 15C 5050 CENTRAL-DELAWARE, INC. 50 MINTHORN BLVD, SUITE 400 THORNHILL, ON L3T7X8 GAMING MANAGER SCHEDULE G, PART III, LINE 16 GREG T. MCLAUGHLIN (FORMER CEO) SERVED AS THE GAMING MANAGER FOR THE POKER TOURNAMENT. RICK SINGER (CURRENT CEO) SERVED AS THE GAMING MANAGER FOR THE RAFFLE. true TIGER WOODS FOUNDATION 121 INNOVATION DR STE 150 IRVINE CA 92617 200677815 501(C)(3) 4702198 N/A N/A YOUTH DEVELOPMENT WORLD GOLF FOUNDATION INC ONE WORLD GOLF PL ST AUGUSTINE FL 32092 592998925 501(C)(3) 50000 N/A N/A SCHOLARSHIP GOLF EDUCATION 2 0 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 GREGORY T MCLAUGHLIN PRES, SEC & CEO (THRU 06/14) 256244 121150 0 0 29123 0 0 10000 43145 0 328512 131150 0 0 JIN THATCHER TREASURER 0 152630 0 0 0 8877 0 6155 0 29955 0 197617 0 0 EMILY C ANDERSON-TAYLOR VP MARKETING & COMMUNICATIONS 154168 0 0 0 0 0 6215 0 32937 0 193320 0 0 0 MICHELLE A BEMIS VP EVENTS & BUSINESS DEVELOP 152329 0 0 0 11720 0 6095 0 15157 0 185301 0 0 0 DANIEL F CALLAHAN SR DIRECTOR, EVENT SALES 148766 0 0 0 5770 0 6000 0 40692 0 201228 0 0 0 ERIC D BALDWIN VP CHAMPIONSHIP DIRECTOR 125877 0 0 0 11984 0 5071 0 24096 0 167028 0 0 0 COMPENSATION FROM RELATED ORGANIZATIONS: THE PRESIDENT, SECRETARY AND CEO, GREGORY T. MCLAUGHLIN WHO RESIGNED IN JUNE 2014, WAS 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 5 22890 RETAIL PRICE X 31673 RETAIL PRICE X 1 51965 RETAIL PRICE X 40 49460 RETAIL PRICE X SPORTING GOODS 4 75000 RETAIL PRICE X SPORTS & ENT TICKETS 9 19536 RETAIL PRICE X FOOD & WINE 14 25530 RETAIL PRICE 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. 14-16, 2013, 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 EARL WOODS SCHOLAR ALEMAR BRITO, WHO SHARED HIS STORY AS A FIRST-GENERATION SCHOLAR SUPPORTED BY THE TIGER WOODS FOUNDATION. PROCEEDS FROM THE EVENT SUPPORTED NEARLY 100 EARL WOODS SCHOLARS AND THE TIGER WOODS LEARNING CENTERS IN ANAHEIM, CA; PHILADELPHIA, PA; QUANTICO, VA; STUART, FL; AND WASHINGTON, DC. NORTHWESTERN MUTUAL WORLD CHALLENGE HELD DEC. 2-8, 2013, THE NORTHWESTERN MUTUAL WORLD CHALLENGE TOOK PLACE AT BEAUTIFUL SHERWOOD COUNTRY CLUB IN THOUSAND OAKS, CALIF, AND FEATURED 18 OF THE WORLD'S BEST PGA TOUR GOLFERS. THE 15TH WORLD CHALLENGE PROVED TO BE ONE OF THE MOST EXCITING YET WITH FIERCE COMPETITION FROM HOST TIGER WOODS, 2O12 DEFENDING CHAMPION GRAME MCDOWELL, 2013 PGA CHAMPIONSHIP WINNER JASON DUFNER, 13 OF THE TOP 20 PLAYERS IN THE WORLD AND AN IMPRESSIVE ROSTER OF PLAYERS FROM THE 2013 PRESIDENTS CUP. PRIOR TO COMPETITION ROUNDS, THE TOURNAMENT HOSTED EARL WOODS SCHOLAR NHAT TONG, WHO SERVED AS THE KEYNOTE SPEAKER FOR THE WEDNESDAY NIGHT PRO-AM DINNER. TONG SHARED HIS JOURNEY OF BEING AN IMMIGRANT UNABLE TO PASS THE ENGLISH PROFICIENCY TEST UNTIL THE SIXTH GRADE TO BECOMING A UCLA GRADUATE WITH LATIN HONORS AND DEGREES IN BUSINESS ECONOMICS AND PSYCHOLOGY, AND A PROUD ASSOCIATE OF PRICEWATERHOUSECOOPERS, ONE OF THE TOP ACCOUNTING FIRMS IN THE NATION, THANKS IN LARGE PART TO THE PROGRAMS OF THE TIGER WOODS FOUNDATION. ON COURSE, THE TOURNAMENT SAW ONE OF THE MOST DRAMATIC FINISHES IN ITS 15-YEAR HISTORY, WHEN ZACH JOHNSON HOLED OUT AN IMPROBABLE SAND WEDGE FROM 58 YARDS AT THE 18TH HOLE TO FORCE A PLAYOFF WITH TIGER WOODS, AND THEN SECURED THE TITLE WHEN TIGER LIPPED OUT A FIVE-FOOT PAR PUTT. PROCEEDS FROM THE EVENT SUPPORTED NEARLY 100 EARL WOODS SCHOLARS AND THE TIGER WOODS LEARNING CENTERS, INCLUDING THE FLAGSHIP LOCATION IN ANAHEIM, CALIFORNIA, WHICH SENT BUSLOADS OF STUDENTS TO ENJOY THE TOURNAMENT, INCLUDING 18 MEMBERS WHO SERVED AS STANDARD BEARERS DURING THE WEEKEND. TIGER JAM 2014 IN LAS VEGAS POKER IS EVERYWHERE, BUT ONLY AT THE 16TH ANNUAL TIGER JAM COULD GUESTS PLAY THE GAME ALONGSIDE GOLF SUPERSTAR TIGER WOODS AND THIRTEEN-TIME WORLD SERIES OF POKER CHAMPION PHIL HELLMUTH. ON MAY 16, 2014 WOODS HOSTED AN EXCLUSIVE NIGHT OF POKER AT MANDALAY BAY RESORT AND CASINO, AS PART OF TIGER JAM, A VIP CONCERT EVENT THAT RAISES FUNDS FOR THE TIGER WOODS FOUNDATION AND ITS COLLEGE-ACCESS PROGRAMS. THE FOLLOWING NIGHT, GUESTS MIXED AND MINGLED OVER COCKTAILS AND HORS D'OEUVRES AT THE TIGER JAM RECEPTION, WHICH FEATURED LIVE AND SILENT AUCTIONS. POST RECEPTION, GUESTS MADE THEIR WAY TO MANDALAY BAY EVENTS CENTER AND WERE TREATED TO A ROCKING CONCERT BY ONE REPUBLIC. FOLLOWING THE SHOW, GUESTS RETURNED TO THE HOUSE OF BLUES FOR AN AFTER-PARTY. PROCEEDS FROM THE EVENT SUPPORTED NEARLY 100 EARL WOODS SCHOLARS AND THE TIGER WOODS LEARNING CENTERS ON THE WEST COAST AND EAST COAST. QUICKEN LOANS NATIONAL 2014 FROM JUNE 23-29, 2014, THIS PREMIER PGA TOUR EVENT WELCOMED 120 PRO GOLFERS TO THE BLUE COURSE AT CONGRESSIONAL COUNTRY CLUB IN BETHESDA, MD. TIGER WOODS RETURNED TO COMPETITIVE GOLF IN DRAMATIC FASHION BY MAKING THE QUICKEN LOANS NATIONAL HIS FIRST TOURNAMENT SINCE UNDERGOING BACK SURGERY EARLIER IN THE YEAR. ULTIMATELY THE TROPHY WAS AWARDED TO JUSTIN ROSE, WHO WON IN A PLAYOFF AGAINST SHAWN STEFANI. THE EVENT ALSO 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 2014 THE DEUTSCHE BANK CHAMPIONSHIP, NEW ENGLAND'S PREMIER PGA TOUR EVENT IS HELD OVER LABOR DAY WEEKEND AT TPC BOSTON IN NORTON, MASS. THE DEUSTCHE BANK CHAMPIONSHIP WELCOMED THE TOP 100 PLAYERS IN THE WORLD AND IS HELD AUG. 27-SEPT. 1, 2014. THIS TOURNAMENT IS ALSO THE SECOND EVENT (OF FOUR) OF THE FEDEXCUP PLAYOFFS. ON COURSE, CHRIS KIRK MADE THREE BIG PUTTS IN THE FINAL ROUND TO CAPTURE THE WIN AND SECURE THE SECOND VICTORY OF HIS PGA TOUR SEASON. 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. 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 (CEO) 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 false true true true true false false