2011-08-15T19:24:49-05:00 2010-09-30 KPMG LLP 355 S Grand Ave Suite 2000 Los Angeles CA 90071 990 2009-10-01 061468499 Tiger Woods Foundation Inc TIGE 9497253003 121 Innovation Suite 150 Irvine CA 92617 GREGORY T MCLAUGHLIN 2011-08-15 2139724000 2009 2016-02-24 21:20:13Z GREGORY T MCLAUGHLIN 121 INNOVATION SUITE 150 IRVINE CA 92617 11048782 false X www.twfound.org X 1996 CA Our mission at Tiger Woods Foundation: We believe in a new generation of bold, courageous youth. We inspire new perspectives and limitless possibilities. 15 14 28 0 0 0 12890577 7049256 0 0 -1043486 1030907 0 0 11847091 8080163 10887281 4120066 0 0 1345260 1410365 0 0 420712 2914302 2421924 15146843 7952355 -3299752 127808 51373552 52244393 2788744 1421270 48584808 50823123 OUR MISSION AT THE TIGER WOODS FOUNDATION: WE BELIEVE IN A NEW GENERATION OF BOLD, COURAGEOUS YOUTH. WE INSPIRE NEW PERSPECTIVES AND LIMITLESS POSSIBILITIES. false false 6850688 4120066 At the Tiger Woods Foundation, 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. The groundbreaking Tiger Woods Learning Centers in Anaheim, Calif., and Washington, D.C., and the Earl Woods Scholarship Program provide a wealth of educational opportunities to young people nationwide. Earl Woods Scholarship Program The Earl Woods Scholarship Program is an unparalleled network providing admissions counseling, college scholarships, dedicated mentors, specialized internships and vital workshops. Receiving individualized support, TWF's bright young scholars are succeeding at prestigious universities such as Georgetown, USC, UC Berkeley, UCLA and Harvard. This program was created in memory of Tiger Woods Foundation co-founder Earl Woods. Tiger Woods Learning Center Serving scholars in grades 5-12, the Tiger Woods Learning Centers provide hands-on experiences in science, technology, engineering and math coupled with college preparation workshops to create a unique environment focused on college and careers. Interactive classes in subjects ranging from rocketry, aerospace engineering and marine biology to graphic design and communications, allow TWLC students to explore a future in almost any career and recognize the importance of attending college. Grants The Tiger Woods Foundation grant-making program primarily focuses on providing funding to organizations that specialize in education and youth development. Specifically, the grant program serves 501 (c) (3) organizations that enhance the learning process for youth. This program supports organizations, programs and projects by invitation only and subject to pre and post qualifications subject to applicable 501(c)(3) guidelines. Tiger Woods Foundation National Junior Golf Team Established in 1999, the Tiger Woods Foundation National Junior Golf Team competes annually in the Junior World Golf Championships held in San Diego, CA. In recognition of Tiger's work on behalf of underserved youth, the Junior World Golf Championships granted permanent exemptions to the Foundation, helping to build a bridge between underserved youth and competitive golf. These exemptions create opportunities to enhance the growth of junior golfers through international competition and reciprocate a similar chance afforded Tiger. EVENTS: THE 2010 AT&T NATIONAL HAD 120 PGA TOUR PROFESSIONALS COMPETING AT ARONIMINK GOLF CLUB IN NEWTOWN SQUARE, PA. THE EVENT PAID TRIBUTE TO THE U.S. MILITARY AND ALSO RAISED FUNDS FOR THE TIGER WOODS FOUNDATION AND VARIOUS PENNSYLVANIA LOCAL YOUTH CHARITY PROGRAMS. HOSTED BY TIGER WOODS, THE 2009 CHEVRON WORLD CHALLENGE FEATURED AN ELITE 18-MAN FIELD IN A FOUR-DAY TOURNAMENT HELD AT SHERWOOD COUNTRY CLUB IN THOUSAND OAKS, CALIFORNIA. THE TOURNAMENT WORKS TO RAISE AWARENESS FOR ITS NOT-FOR-PROFIT PARTNERS INCLUDING THE TIGER WOODS FOUNDATION AND OTHER LOCAL CHARITIES. The 2009 Deutsche Bank Championship was a premier PGA TOUR event held over Labor Day weekend at the TPC Boston in Norton, Mass. It raised funds for the Tiger Woods Foundation and New England-area charities. The event featured the top 100 PGA TOUR golfers as they competed in the PGA TOUR Playoffs for the FedEx Cup first prize. THE 2009 TWLC BLOCK PARTY, AN EVENING BENEFIT HELD IN ORANGE COUNTY, CALIFORNIA CELEBRATED THE LOCAL COMMUNITY AND THE YOUNG PEOPLE SERVED BY THE TIGER WOODS LEARNING CENTERS. THE EVENT BEGAN WITH A GOLF OUTING AND EXHIBITION BY TIGER WOODS FOLLOWED BY A GOURMET DINNER, LIVE AND SILENT AUCTIONS AND A UNIQUE MUSICAL PERFORMANCE BY SHERYL CROW. FUNDS RAISED AT THE BLOCK PARTY SUPPORT THE STUDENTS AND PROGRAMS OF THE TIGER WOODS LEARNING CENTERS. 6850688 true true false false false false false false false true false true false false false true false false false false false true true true false false false false false false false false false false false false false true true false false true 18 0 true 28 true false false false false false false false false false 15 14 false false false false false true false true true false false true true true true true true true true false AK AZ AR CA CT DC FL GA IL IN KS KY LA ME MD MI MN MS MO MT NJ NM NY NC ND OH OK PA RI SC TN UT VA WA WI X GREGORY T MCLAUGHLIN 9497253003 121 INNOVATION SUITE 150 IRVINE CA 92617 Gregory McLaughlin 25.0 X X 110031 420243 37159 SANDRA BARRY 1.0 X 0 0 0 ANDY BIELANSKI 1.0 X 0 0 0 RONALD CONWAY 1.0 X 0 0 0 DALE DYKEMA 1.0 X 0 0 0 CHRISTOPHER J HUBMAN 1.0 X 0 0 0 MICHAEL P JOHNSON 1.0 X 0 0 0 SHEILA C JOHNSON 1.0 X 0 0 0 ROB LIGHT 1.0 X 0 0 0 MICHEAL MCKEE 1.0 X 0 0 0 TIM RYAN 1.0 X 0 0 0 MARK STEINBERG 1.0 X 0 0 0 RAY WILKINS 1.0 X 0 0 0 MIKE WIRTH 1.0 X 0 0 0 KUTILDA WOODS 1.0 X 0 0 0 LINDSAY A MCCULLOUGH 15.0 X 0 70849 11314 Jin C Thatcher 40.0 X 141445 0 25631 Michelle S Kim 40.0 X 110889 0 7237 362365 491092 81341 3 false true false Apollo Philanthropy Partners 10 Decatur St CAMBRIDGE MA 02139 Education Exp. Study 136047 KPMG LLP Dept 0939 PO Box 120001 DALLAS TX 753120922 Accounting 101500 MLB Advanced Media LP 75 Ninth Avenue 5th Floor NEW YORK NY 10011 WEBSITE/MEDIA SVC 250000 THE IRVINE COMPANY Department 1215 LOS ANGELES CA 90084 rent 134378 4 5341000 1708256 7447 7049256 0 886712 0 0 886712 0 0 3112814 2968619 144195 144195 144195 0 0 0 0 8080163 0 0 1030907 3635566 3635566 199500 199500 285000 285000 0 256795 202868 17976 35951 0 887670 701259 62137 124274 28739 22704 2012 4023 143499 113364 10045 20090 93662 73993 6556 13113 0 120723 95372 8450 16901 189358 0 189358 0 0 0 135584 0 135584 0 185487 146637 12950 25900 61783 48763 4340 8680 718740 549588 71572 97580 33713 26573 2380 4760 0 287099 226619 20160 40320 105294 83244 7350 14700 0 37474 29704 2590 5180 0 0 122875 0 122875 0 65743 51883 4620 9240 PROGRAM EXPENSES 358051 358051 0 0 7952355 6850688 680955 420712 12765 12418 21497004 9133912 1463334 1080000 3400 38956 725114 327486 451268 397628 11541125 23965471 16256801 17588186 147855 27822 51373552 52244393 46546 91270 2563334 1330000 178864 0 2788744 1421270 X 44536808 46775123 4048000 4048000 48584808 50823123 51373552 52244393 X false true true X false X 3768723 9176454 11643559 12890577 7049256 44528569 3768723 9176454 11643559 12890577 7049256 44528569 7962845 36565724 1240851 1633808 1992466 483305 886712 6237142 1031 314 4099 0 0 5444 50771155 20000 0.72021 0.76877 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 198901 88302 110599 0 526213 239184 287029 0 0 0 0 397628 ALTERNATIVE INVESTMENTS 17588186 F 17588186 0 0 8080163 7952355 127808 2110435 2110435 2238243 10187785 2110435 2110435 8077350 2813 2813 8080163 7949542 7949542 2813 2813 7952355 FIN 48 Form 990, Schedule D, Part X THE FOUNDATION ADOPTED THE PROVISIONS OF ACCOUNTING STANDARDS CODIFICATION (ASC) TOPIC 740, INCOME TAXES. ASC TOPIC 740 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. THE FOUNDATION ADOPTED THE DEFERRAL AND DISCLOSURE PROVISIONS OF ASC TOPIC 740 FOR ITS SEPTEMEMBER 30, 2009 CONSOLIDATED FINANCIAL STATEMENTS AND HAS ADOPTED THE PROVISIONS OF ASC TOPIC 740 FOR THE YEAR ENDED SEPTEMEBER 30, 2010. MANAGEMENT ASSERTS THAT NO SUCH UNCERTAIN TAX POSITION EXISTS FOR THE FOUNDATION AT SEPTEMBER 30, 2010. Revenue on return not on books Part XII, Line 4b $2,813 REPRESENTS MISC INCOME REPORTED ON FINANCIAL STATEMENTS AS A REDUCTION TO MISC EXPENSE. expenses on return not on books Part XIII, line 4b $2,813 REPRESENTS MISC INCOME REPORTED ON FINANCIAL STATEMENTS AS A REDUCTION TO MISC EXPENSE. true East Asia/Pacific Youth Development 150000 check 0 N/A N/A East Asia/Pacific Literacy Program 17500 check 0 N/A N/A East Asia/Pacific Education 17500 check 0 N/A N/A East Asia/Pacific Educational Outreach 50000 check 0 N/A N/A Europe/Iceland/Greenland Youth Development 50000 check 0 N/A N/A 5 0 Procedures for Monitoring the Use of Grant Funds Outside the United States Form 990, Schedule F, Part I, Line 2 The Foundation requires the foreign grantee organizations to provide progress reports throughout the year. Additionally the Foundation conducts site visits during the year. true Anaheim Ducks Foundation Inc 2695 E Katella Ave Anaheim CA 92806 113839845 501(C)(3) 8000 0 N/A N/A Community Support Anika Foundation 10524 Moss Park Orlando FL 32832 263100887 501(C)(3) 25000 0 N/A N/A Depression Research Bill Dickey Scholarship Association 1140 East Washington Street Phoenix AZ 85034 942933804 501(C)(3) 15000 0 N/A N/A Scholarships Boston Red Sox Foundation 4 Yawkey Way Boston MA 02215 331007984 501(C)(3) 50000 0 N/A N/A Community Support Boys & Girls Club of Philadelphia 1518 Walnut Street Philadelphia PA 19102 231966756 501(C)(3) 25000 0 N/A N/A Youth Development Concordia Language Villages 901 8th St S Moorhead MN 56562 410693977 501(C)(3) 25000 0 N/A N/A Education Discovery Science Center 2500 N Main St Santa Ana CA 92705 330828380 501(C)(3) 25000 0 N/A N/A Education J Wood Platt Caddie Trust PO Box 808 Southeastern PA 19399 236296989 501(C)(3) 8000 0 N/A N/A Scholarships Jon Bon Jovi Soul Foundation 1635 Market Street Philadelphia PA 19103 205036346 501(C)(3) 400000 0 N/A N/A Community Support Microsoft Corp (Imagine Cup) PO Box 847255 Dallas TX 752847255 911144442 25000 0 N/A N/A Student Technology Community Foundation for National Capital Region 1201 15th Street NW Suite Washington DC 20005 237343119 501(C)(3) 50000 0 N/A N/A Community Support Orange County YMCA 13821 Newport Ave Suite 200 Tustin CA 92780 951644055 501(C)(3) 25000 0 N/A N/A Youth Development Salesian Boys & Girls Club of Los Angeles 3218 Wabash Ave Los Angeles CA 90063 952430743 501(C)(3) 7500 0 N/A N/A Youth Development Scholarship America One Scholarship Way Saint Peter MN 56082 273419857 501(C)(3) 50000 0 N/A N/A Scholarships Suzanne W Dykema Memorial Fund 500 Newport Center Dr Newport Beach CA 92660 10000 0 N/A N/A HEALTH RESEARCH DONATION Team HEAL Foundation Inc PO Box 451370 Los Angeles CA 90045 330954775 501(C)(3) 15000 0 N/A N/A Youth Athletes The 1st Tee of Philadelphia 1952 E Allegheny Ave Philadelphia PA 19134 232088969 501(C)(3) 25000 0 N/A N/A Youth Golf Program Tiger Woods Learning Center Foundation 121 Innovation Dr Irvine CA 92617 200677815 501(C)(3) 2761000 0 N/A N/A Education UCI SAGE SCHOLARS 5171 California Ave Irvine CA 92617 952540117 501(c)(3) 7500 0 N/A N/A Education 17 2 SCHOLARSHIPS TO UNIVERSITY STUDENTS 51 199500 0 N/A N/A Grant Guidelines Form 990, Schedule I, Part I, Line 2 The Foundation makes grants to the Tiger Woods Learning Centers located throughout the U.S. These related organizations were established to carry out the Foundation's educational goals. The Foundation works closely with the Learning Centers, provides support, and monitors their activities on a regular basis. Due to the size of grants the Foundation makes to unrelated charitable organizations, generally under $25,000, the Foundation does require progress reports on select organizations. Also, the Foundation relies on pre-grant procedures and inquiries to ensure the grantee organization meets the requirements for approved programmatic areas of funding. Please see Statement 2 for further information regarding the grants program. X X X X false false false false false false false false false Jin C Thatcher 118983 0 15000 0 7462 0 4783 0 20848 0 167076 0 0 0 Gregory McLaughlin 110031 234512 0 137500 0 48231 0 0 0 37159 110031 457402 0 0 COMPENSATION FROM RELATED ORGANIZATIONS The President and CEO, Gregory T. McLaughlin, is compensated through two related 501(c)(3) organizations - Tiger Woods Foundation and Tiger Woods Charity Event Corporation where he devotes 65 hour per week- however, in addition to his responsibilities for these two organizations, he also serves as the President and CEO of Tiger Woods Learning Center Foundation and Tiger Woods Learning Center Foundation-DC, both 501(c)(3) affiliates with 6 hrs of services per week. Mr. McLaughlin's total compensation for his services provided to all four 501(c)(3) affiliated public charities was paid as follows: (B)(i) (B)(ii) (B)(iii) (C) (D) Tiger Woods Foundation 110,031 NONE NONE NONE NONE Tiger Woods CEC 234,512 137,500 48,231 NONE 37,159 Tiger Woods LC-OC NONE NONE NONE NONE NONE Tiger Woods LC-DC NONE NONE NONE NONE NONE ________ _______ ______ _____ ______ Total 344,543 137,500 48,231 NONE 37,159 Form 990, Schedule J, Part I, line 3: The organization relied on related organizations, Tiger Woods Foundation and Tiger Woods Charity Event Corporation 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 or study approval by the board or compensation committee AUDIT OF FINANCIAL STATEMENTS BY INDEPENDENT ACCOUNTANT Form 990, Part IV, Line 12 and Part XI, line 2b The Tiger Woods Foundation's financial statements were included in the consolidated audited financial statements of 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. Election of Members of the Governing Body Form 990, Part VI, Line 7a The organization has one member. The member's class is nonvoting. The member elects and designates the board of directors. All corporate powers are managed under the direction of the board of directors. Process of Review Form 990, Part VI, Line 11 The Board of Directors 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 CFO prior to providing the draft to the Audit Committee. In addition to consulting with the 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. Monitoring and Enforcement of Conflict of Interest Policy Form 990, Part VI, line 12C Pursuant to the Conflicts of Interest Policy, an annual conflict of interest questionnaire, aimed at determining any family and business relationships and 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 Conflicts 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 conflicts 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,Section B, 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. 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. 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. TRANSACTIONS WITH RELATED ORGANIZATIONS SCHEDULE R, PART V, LINE 2, COLUMN (C) Grant paid (B): The grant to the Tiger Woods Learning Center Foundation 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 2009-10. Grant received (C): The grant from the Tiger Woods Charity Events 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 2009-10. Sharing of facilities (m): The rent expense is allocated based on estimate of actual space used by both organizations multiplied by the actual expense paid to the lessor. Average Hours Per Week Devoted to Related Organizations Form 990, Part VII, Section A, Column B In addition to the hours spent on Tiger Woods Foundation listed on Part VII, the following individuals devoted hours to other related organizations. Gregory McLaughlin also devotes an average of 40 hours per week to Tiger Woods Charity Event Corporation, 5 hours per week to Tiger Woods Learning Center Foundation, 1 hour per week to Tiger Woods Learning Center Foundation-DC (in addition to the 25 hours per week devoted on the Tiger Woods Foundation). Jin C. Thatcher also devotes an average of 15 hours per week to Tiger Woods Charity Event Corporation, 1 hour per week to Tiger Woods Learning Center, and 1 hour per week to Tiger Woods Learning Center-DC. Lindsay McCullough also devotes an average of 40 hours per week to Tiger Woods Charity Event Corporation, 1 hour to Tiger Woods Learning Center and 1 hour to Tiger Woods Learning Center-DC. Katherine Bihr also devotes and average of 40 hours per week to Tiger Woods Learning Center. Sandra Barry also devotes and average of 1 hour per week to Tiger Woods Learning Center Foundation. Dale Dykema also devotes and average of 1 hour per week as a director on the Tiger Woods Learning Center Foundation. Michael McKee also devotes and average of 1 hour per week as a director on the Tiger Woods Learning Center Foundation. Tim Ryan also devotes and average of 1 hour per week as a director on the Tiger Woods Learning Center Foundation. Mark Steinberg also devotes and average of 1 hour per week as a director on the Tiger Woods Learning Center Foundation. None of the other directors or highly compensated employees devoted time to any related organization. TIGER WOODS CHARITY EVENT CORPORATION 121 INNOVATION DR SUITE 150 IRVINE CA 92617 061554474 fundraising CA 501(c)(3) 11 na TIGER WOODS LEARNING CENTER FOUNDATION 121 INNOVATION DR SUITE 150 IRVINE CA 92617 200677815 education CA 501(c)(3) 2 na TIGER WOODS LEARNING CENTER FND DC 121 INNOVATION DR SUITE 150 IRVINE CA 92617 261175108 education DC 501(c)(3) 2 na false true true false false false false false false false false false true true false false false false Tiger Woods Learning Center Foundation - CA b 2761000 Tiger Woods Charity Event Corporation C 5341000 Tiger Woods Charity Event Corporation m 130526