2013-08-15T17:23:40-05:00 2012-09-30 KPMG LLP 355 S Grand Ave Suite 2000 Los Angeles CA 90071 990 2011-10-01 200677815 TIGER WOODS FOUNDATION INC % GREGORY T MCLAUGHLIN TIGE 9497253003 1 TIGER WOODS WAY ANAHEIM CA 92801 GREGORY MCLAUGHLIN 2013-08-15 true 2139724000 2011 2016-02-24 21:20:13Z GREGORY T MCLAUGHLIN 121 INNOVATION DR SUITE 150 IRVINE CA 92617 32080301 false X www.tigerwoodsfoundation.org X 2004 CA Tiger Woods Foundation, a non-profit public benefit corporation, operates school facilities that provide educational opportunities for youth.(Activities are specific to 10/1/11 to 9/30/12) 31 30 62 63 0 2833512 4505376 0 111150 1867885 1657539 317794 28973 5019191 6303038 200 467190 0 0 1668661 3443877 0 0 557442 2353332 4643332 4022193 8554399 996998 -2251361 91223866 109463341 15607564 14360217 75616302 95103124 X AT THE TIGER WOODS FOUNDATION ("TWF"), 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. SEE SCHEDULE O. false false 3371254 0 0 SEE SCHEDULE O. 559037 0 0 SEE SCHEDULE O. 179984 179984 0 SEE SCHEDULE O. 2760607 287206 111150 6870882 true true false false false false false false false false true true false false true true false true true false false false false false false false false true true true true false false false false false false false false false false true false false false true true false false false false true 33 0 true 62 true false false false false false false false false false false X 31 30 false false false false false true false true true false false true true true true true true true true false CA X GREGORY T MCLAUGHLIN 9497253003 121 INNOVATION DRIVE SUITE 150 IRVINE CA 92617 X GREGORY T MCLAUGHLIN 20.0 X X 118875 391068 40784 MICHAEL D MCKEE 1.0 X X RICHARD BAILY 1.0 X SANDRA BARRY 1.0 X MARIAN BERGESON 1.0 X RAJ S BHATHAL 1.0 X ANDY BIELANSKI 1.0 X AVERY BROWN 1.0 X RONALD CONWAY 1.0 X MICHAEL V DRAKE 1.0 X DALE L DYKEMA 1.0 X KARINA HAMILTON 1.0 X PAUL HEGNESS 1.0 X CHRISTOPHER J HUBMAN 1.0 X MICHAEL P JOHNSON 1.0 X SHEILA C JOHNSON 1.0 X GREG JONES 1.0 X DENNIS KUHL 1.0 X ROB LIGHT 1.0 X JERRY E MANDEL 1.0 X JERRY MATTES 1.0 X TIM J RYAN 1.0 X LAURA SANFORD 1.0 X MARK STEINBERG 1.0 X TOM TAIT 1.0 X TODD C THEODORA 1.0 X LEO TUCKER 1.0 X PETER V UEBERROTH 1.0 X BOB WALTOS 1.0 X RAY WILKINS 1.0 X KUTILDA WOODS 1.0 X KATHERINE BIHR 40.0 X 171800 13573 JIN C THATCHER 49.0 X 165890 26469 LINDSAY MCCULLOUGH 1.0 X 66950 23282 MICHELLE S KIM 40.0 X 110548 6421 567113 458018 110529 4 false true false THE IRVINE COMPANY DEPARTMENT 1215 LOS ANGELES CA 900841215 RENT 208429 MLB ADVANCED MEDIA LP PO BOX 417171 BOSTON MD 022417171 WEBSITE/MEDIA SVC 200000 ALGONQUIN ADVISORS LLC 2 GREENWICH OFFICE PARK 2ND FLOOR GREENWICH CT 06831 INVESTMENT MANAGER 174638 KPMG LLP PO BOX 120001 DALLAS TX 753120939 ACCOUNTING/TAX 130603 ESIX 3 LLC 5660 NEW NORTHSIDE DR SUITE 640 ATLANTA GA 30328 INSURANCE 121085 5 37358 1525000 2943018 52171 4505376 SUMMER ACADEMY FEES 611600 111150 111150 111150 2792134 2792134 0 0 24642668 25777263 -1134595 -1134595 -1134595 0 0 0 REGISTRATION/ID CARDS 900099 21930 21930 VENDING MACHINE 900099 2653 2653 MEMBERSHIP REWARDS 900099 1842 1842 2548 2548 28973 6303038 111150 1686512 279683 279683 187507 187507 0 0 695719 416589 127532 151598 0 2029312 1747875 128996 152441 88833 70309 8175 10349 407099 328945 33344 44810 222914 180837 19151 22926 0 92022 32233 54022 5767 254777 35642 212802 6333 0 0 275312 275312 78528 59915 7816 10797 170764 134254 12654 23856 189432 150272 21211 17949 325294 242679 46901 35714 0 513651 475218 14009 24424 191886 144538 25897 21451 0 124610 98919 8999 16692 514907 509758 5149 0 1185691 1069036 116655 164759 145991 7032 11736 PROGRAM EXPENSES 557305 557305 TAXES AND FEES 4394 3377 418 599 8554399 6870882 1126075 557442 1677 1495 12827475 12649665 1935838 7621871 510 486 0 0 0 0 0 0 0 0 320333 85776 18807061 6905175 12112633 11901886 35779885 44683505 26656327 30458936 0 0 0 0 1589188 2059721 91223866 109463341 271379 368597 1051793 7500 0 0 10775000 10775000 0 0 0 0 0 0 0 0 3509392 3209120 15607564 14360217 X 47635302 76733124 27981000 18370000 0 0 75616302 95103124 91223866 109463341 X -2251361 21738183 X false true true X false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 11551230 1961045 9590185 2556939 1029712 1527227 3177459 2594202 583257 1521433 1320216 201217 11901886 FUND - ALGONQUIN CREDIT 8640735 F FUND - BLUE ORCHID 5482209 F FUND - GLOBAL EQUITY 9437484 F FUND - ALGONQUIN FUND 6830260 F FUND - TUDOR BVI 68248 F 30458936 0 INTEREST RATE SWAP 2963008 DUE TO AFFILITIES 246112 3209120 6303038 8554399 -2251361 6548287 -213757 6334530 4083169 12636764 6548287 27030 6575317 6061447 241591 241591 6303038 8553596 27030 27030 8526566 27833 27833 8554399 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 PROVISION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN AND PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, DISCLOSURE, AND TRANSITION. MANAGEMENT ASSERTS THAT NO SUCH UNCERTAIN TAX POSITIONS EXIST REQUIRING ACCRUAL OR DISCLOSURE AT SEPTEMBER 31, 2012 OR 2011. RECONCILIATION OF CHANGE IN NET ASSETS SCHEDULE D, PART XI, LINE 8 UNREALIZED LOSS ON INTEREST RATE SWAP $ 213,757 REVENUE INCLUDED ON FORM 990, NOT ON AUDITED FINANCIAL STATEMENTS SCHEDULE D, PART XIII, LINE 4B UNREALIZED LOSS ON INTEREST RATE SWAP $ 213,757 MISC revenue REPORTED NETted against EXPENSES ON FINANCIAL STATEMENTS $ 27,833 ------------- TOTAL $ 241,591 EXPENSES INCLUDED ON FORM 990, NOT ON AUDITED FINANCIAL STATEMENTS SCHEDULE D, PART XIII, LINE 4B MISC revenue REPORTED NETted against EXPENSES ON FINANCIAL STATEMENTS $ 27,833 true true true true true true true false false false false false false false false false false true SCHEDULE E, PART I, LINE 3 THE TIGER WOODS FOUNDATION PUBLICIZED ITS RACIALLY NONDISCRIMINATORY POLICY IN ALL STUDENT APPLICATION FORMS AND THE ORGANIZATION'S WEBSITE. true Big Brothers & Big Sisters 10210 Greenbelt Road Suite 900 Lanham MD 20706 530190849 501(c)(3) 10000 n/a n/a youth development Bill Dickey Scholarship Association T1140 East Washington Street Suite Phoenix AZ 85034 942933804 501(c)(3) 7500 n/a n/a assist students with educational costs Cabin John Volunteer Fire Department 9404 Falls Road Potomac MD 20854 520707953 501(c)(3) 10000 n/a n/a fire & rescue services Good Shepherd Ministries PO Box 11909 San Bernardino CA 92423 330469882 501(c)(3) 10000 n/a n/a support religious education Kinney Center for Autism Ed & Support 5600 City Avenue Philadelphia PA 19315 231352674 501(c)(3) 25000 n/a n/a support autism awareness Little Smiles Philadelphia 726 Garden Drive Kennett Square PA 19348 650963754 501(c)(3) 25000 n/a n/a support sick children Naval Postgraduate School Foundation PO Box 8626 Monterey CA 93943 237098729 501(C)(3) 25000 n/a n/a foster naval education NCAA Men's Golf Championship 3501 Watt Way Heritage Hall Suite Los Angeles CA 900890602 440567264 501(c)(3) 12000 n/a n/a YOUTH DEVELOPMENT universty of california irvine 420 SOCIAL SCIENCE TOWER IRVINE CA 92697 952540117 501(C)(3) 15000 n/a n/a SAGE SCHOLARS PROGRAM Sbonelo Scholarship Foundation 5605 Carnegie Blvd Suite 110 Charlotte NC 28209 261822173 501(C)(3) 10000 n/a n/a SCHOLARSHIPS The Club Foundation 8500 River Road Bethesda MD 20817 521642692 501(c)(3) 25000 n/a n/a general support The Red Sox Foundation 4 Yawkey Way Boston MA 02215 331007984 501(c)(3) 75000 n/a n/a COMMUNITY SUPPORT Yellow Ribbon Fund 10415 Armory Avenue Kensington MD 20895 364567583 501(c)(3) 10000 n/a n/a support injured service members 13 0 SCHOLARSHIPS TO UNIVERSITY STUDENTS 47 187507 0 n/a n/a GRANT MONITORING PROCEDURES FORM 990, SCHEDULE I, PART I, LINE 2 Due to the size of grants made to unrelated charitable organizations, generally under $25,000, the Foundation does not require progress reports on select organizations. The Foundation relies on 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 118875 252396 111320 27352 9800 30984 128675 422052 KATHERINE BIHR 145600 15000 11200 6612 6961 185373 JIN C THATCHER 145600 15750 4540 7428 19041 192359 Compensation from Related Organizations THE PRESIDENT, SECRETARY AND CEO, GREGORY T. MCLAUGHLIN, IS COMPENSATED THROUGH TIGER WOODS FOUNDATION, INC., AND A RELATED 501(C)(3) ORGANIZATION, TIGER WOODS CHARITY EVENT CORPORATION, WHERE HE DEVOTES A COMBINED TOTAL OF 65 HOURS. IN CONJUNCTION WITH HIS DUTIES AS PRESIDENT AND CEO OF THE TIGER WOODS FOUNDATION, HE OVERSEES ALL FIVE TIGER WOODS LEARNING CENTERS AND ALL THE NATIONAL SCHOLARSHIP PROGRAMS. MR. MCLAUGHLIN'S TOTAL COMPENSATION FOR HIS SERVICES PROVIDED TO THE TWO 501(C)(3) AFFILIATED PUBLIC CHARITIES WAS PAID AS FOLLOWS: (B)(I) (B)(II) (B)(III) (C) (D) TIGER WOODS FOUNDATION 118,875 NONE NONE 9,800 NONE TIGER WOODS CEC 252,396 111,320 27,352 NONE 30,984 --------------------------------------- TOTAL 371,271 111,320 27,352 9,800 30,984 CA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY 680164610 1309114R8 2006-08-10 10775000 BUILD TIGER WOODS LEARNING CENTER false false false 0 0 10775000 0 0 0 29050 55509 0 10690441 0 0 2006 false false true true false false false false 0 true false true true bank of america 15. false false false 0 false false SCHEDULE K, PART VI, LINE 3 0 RATE SUBSTANTIALLY FIXED AT 3.54% THROUGH 10/02/2026. X 27413 X golf clubs and balls 9 12623 RETAIL PRICE X duffle bags 1 7380 retail price X science kit 1 4755 retail price false false false Number of Contributions Schedule M, Part I, Column B For part I, column B, the foundation is reporting the number of contributions received. ORGANIZATION'S MISSION FORM 990, PART III, LINE 1, continued THE GROUNDBREAKING TIGER WOODS LEARNING CENTER("TWLC") IN ORANGE COUNTY, CA; WASHINGTON, D.C.; PHILADELPHIA, PA; AND STUART, FL; AND THE EARL WOODS SCHOLARSHIP PROGRAM PROVIDES A WEALTH OF EDUCATIONAL OPPORTUNITIES TO YOUNG PEOPLE NATIONWIDE. TWLC'S OPERATE SCHOOL FACILITIES THAT MAINTAIN REGULAR FACULTY, CURRICULUM, AND HAVE A REGULARLY ENROLLED STUDENT BODY OF STUDENTS IN ATTENDANCE, WITHIN THE MEANING OF SECTION 170(B)(1)(A)(II) OF THE CODE. PROGRAM SERVICE ACTIVITIES FORM 990, PART III, LINE 4A TWLC-FLAGSHIP (ORANGE COUNTY, CA): CREATED IN 2002, THE TIGER WOODS LEARNING CENTER (TWLC) HAS PROVIDED ONE-OF-A-KIND, HANDS-ON ENRICHMENT PROGRAMS FOR YOUTH. THE UNIQUE LEARNING ENVIRONMENT AT THE TWLC WAS INSPIRED BY THE VISION OF TIGER WOODS TO PROVIDE YOUNG PEOPLE WITH A SAFE PLACE TO LEARN; OPPORTUNITIES TO IDENTIFY THEIR INTERESTS; RECOGNIZE THEIR POTENTIAL; AND CREATE POSITIVE CHANGE. The program philosophy is based on: positive youth development and high-quality education. Building on these tenets, the Tiger Woods Learning Center has integrated research on what young people need to become healthy and thriving adults. the program supports 5,000-7,500 unique students per year. CURRICULUM OFFERED: - Career Orientation Program : Elementary School - Week-long student/teacher enrichment during school day. Student curriculum focused on Forensic Science/Marine Science. Teacher Professional Development - Standards-based Science and Technology integration. - Career Exploration Program: Middle/High School after-school enrichment: 40 STEM focused modules. Examples include: biotechnology, engineering, robotics, video production, video game design, nutrition/fitness, entrepreneurship, aerospace. FORM 990, PART III, LINE 4B TWLC-EXPANSION: IN 2008, THE TIGER WOODS FOUNDATION LAUNCHED ITS FIRST EXPANSION TWLC CAMPUS IN WASHINGTON, DC IN PARTNERSHIP WITH A LOCAL CHARTER SCHOOL. TWO ADDITIONAL CAMPUSES WERE ADDED IN PHILADELPHIA, PA AND STUART, FL THE FOLLOWING YEAR TO PROVIDE YOUTH WITH AUTHENTIC LEARNING EXPERIENCES IN ONE OR MORE TWLC SIGNATURE PROGRAMS FOCUSED ON SCIENCE, TECHNOLOGY, ENGINEERING AND MATH (STEM) CAREER EXPLORATION AND COLLEGE PREPARATION. TWLC Campus students have access to state-of-the-art technology and learn how to use tools vital to workplace productivity in the 21st century. All expansion locations are supported with training, curriculum materials, resource support and funding. CAMPUS MODEL 1 - WASHINGTON, DC - CESAR CHAVEZ CHARTER SCHOOL TWLC maintains two DC locations in partnership with the Cesar Chavez Public Charter School for Public Policy. Patterned after the TWLC flagship, the Campus Model 1 is provided dedicated space at two Chavez schools, one on Capitol Hill (grades 9-12) and the other in the Kenilworth neighborhood (grades 6-8 and 9-12). TWF staff serves over 1,000 students annually in onsite and outreach programs where students can earn high school credit CURRICULUM OFFERED: - Capitol Hill: High School Students - After School enrichment: Communications and Filmmaking; School Day Elective Course: Robotics and Youth Teach2Learn - Parkside: Middle School Students - After School enrichment: Going Green in Science and Engineering; FIRST Lego League Robotics Club; and School Day Elective Course: High School Robotics - Pre-College Bootcamp - one day workshop offered to all high school seniors - STEM Career Conference - Saturday hands-on workshop for middle/high school students from the DC Metro area. Specific focus on career exploration for students and college preparation for families. - Summer Day Classes: Open to students throughout DC Metro area - one-week content intensive workshops. Examples include: TWLC curriculum in Forensic Science, Marine Life, Rocketry, Video Production. CAMPUS MODEL 2 - PHILADELPHIA, PA; STUART, FL A second expansion model involves TWF providing funding and program resources to local schools and/or community based organizations assisting with the set-up of a TWLC-branded environment within one classroom or designated space. Funding covers curriculum, facility infrastructure and supports ongoing professional development and evaluation. Key components to identifying an academic partner include: research on local demographics, school performance on state/national assessments, and a shared commitment to developing a collaborative relationship where both TWF and the local entity can learn and grow together. In this model site-based staff administers the program while TWF program staff provides both consultation and external support to ensure fidelity of implementation. STUART, FL - MURRAY MIDDLE SCHOOL Offered as an after-school program, teachers at Murray Middle School have delivered TWF Forensic Science and Universal Science to their students. In addition, school staff has been trained in positive youth development methods and have integrated activities into their advisory classes at all grade levels. PHILADELPHIA, PA - KIPP - DuBois Collegiate Preparatory Academy Teachers at KIPP - DCA report that their high school students are excited by the opportunity to do hands-on activities like dissection, rocket design and crime scene investigation. Delivered as a for-credit class, students participate in a semester long elective where they are able to spend more time exploring scientific concepts. FORM 990, PART III, LINE 4C EARL WOODS SCHOLARSHIP PROGRAM In celebration of Tiger's father Earl and his lifelong dedication to helping young people achieve their dreams, the Tiger Woods Foundation (TWF) created the Earl Woods Scholarship Program (EWSP). More than 77 scholars are matriculating through the program. Scholars are annually awarded a four-year renewable scholarship up to $20,000 for the term. To qualify, students must demonstrate outstanding academic achievement, financial need and a commitment to community. Funding tuition is just one of the many hurdles facing first-generation college students. Many are leaving home for the first time, attempting to juggle work and class while scraping together enough money for books and other supplies. Virtually 90% of our scholars are first-generation college students, navigating through college on their own. EWSP is an incredible support network that includes admissions counseling, dedicated mentors, specialized internships, financial assistance and professional workshops for each scholar accepted into the program. Workshops include resume-writing, mock interviews, information about graduate school and beginning the career search. It is important to underscore that Scholars receive TWF financial assistance for tuition, books, and travel home as well as for TWF workshops and winter clothing. Another aspect of the EWSP are pre-college workshops designed to get young people to understand that it is not too early to start thinking about college and the benefits of a college education. The workshops are designed to help students finish high school prepared for postsecondary education and with a clear idea on how to best approach the application process and secure financial aid. The program also engages parents with information regarding the process their students are going through during middle and high school, and how to be advocates for their students' educational success. This college access program is offered for free to students and their families who are interested in higher education and helps inform them of its importance and affordability. FORM 990, PART III, LINE 4D OTHER PROGRAMS TWLC offers various community outreach programs, including town hall meetings, guest speakers, and college preparation workshops for families and students throughout southern California. College Access Programs include: For Middle/High School students and families, the TWF offers workshops on navigating the college application process and financial aid; college admissions interviews and information sessions for top universities nationwide (Brown, Harvard, Yale, Georgetown, Franklin & Marshall, Reed and more); and a pre-college bootcamp for high school seniors. STEM Career Conference - Saturday hands-on workshop for middle/high school students from the DC Metro area with a specific focus on career exploration for students and college preparation for families. Summer Classes: Six one-week classes at the TWLC-OC and TWLC-DC elementary/middle/high school; Summer Academy residential program focused on STEM and golf for children from military families. Golf Outreach: TWLC-OC hosts weekly clinics each Saturday at the TWLC golf facility. The mobile golf program takes the TWLC golf program on the road to local elementary schools. Offered to orange county students in grades 5-6, this three-phase program emphasizes the fundamentals of putting, pitching and the full swing. 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 THAT 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 15 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. Annually the compensation committee approves the compensation for CEO, OFFICER AND ANY KEY EMPLOYEE. 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); 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. DOCUMENTS AVAILABLE TO THE PUBLIC 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. RECONCILIATION OF NET ASSETS FORM 990, PART XI, LINE 5 UNREALIZED LOSSES ON INVESTMENTS $ 6,548,287 UNREALIZED LOSSES ON INTEREST RATE SWAP (213,757) TWLCF-DC LLC Assets Transferred 15,403,653 ---------------- TOTAL $ 21,738,183 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:GREGORY T MCLAUGHLIN TITLE:PRESIDENT/SECRETARY/CEO HOURS:45 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:JIN C. THATCHER TITLE:TREASURER HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:LINDSAY MCCULLOUGH TITLE:ASSISTANT SECRETARY(thru 2/12) HOURS:40 TIGER WOODS LEARNING CENTER DC CAMPUSES 121 INNOVATION DR SUITE 150 IRVINE CA 92617 453467705 EDUCATION DC 278095 7390352 TWF TIGER WOODS CHARITY EVENT CORPORATION 121 INNOVATION DR SUITE 150 IRVINE CA 92617 061554474 Fundraising CA 501(c)(3) 11 TWF true false false true false false false false false false false false false true true true true false false TIGER WOODS CHARITY EVENT CORPORATION c 1525000 see part vii TRANSACTIONS WITH RELATED ORGANIZATIONS SCHEDULE R, PART V, LINE 2, COLUMN (C) GRANT RECEIVED (C): THE GRANT FROM THE TIGER WOODS CHARITY EVENT CORPORATION WAS DETERMINED BASED ON THE RECIPIENT CHARITABLE ORGANIZATION'S OPERATIONAL NEEDS AND WAS APPROVED BY THE FOUNDATION'S BOARD DURING THE ANNUAL BUDGETING PROCESS FOR 2011-2012.