United States Golf Association Foundation Inc in Far Hills, New Jersey (NJ)

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United States Golf Association Foundation Inc
Employer Identification Number (EIN)136188356
Name of OrganizationUnited States Golf Association Foundation Inc
In Care of NameUsga Controller
Address77 Liberty Corner Rd, Far Hills, NJ 07931-2570
ActivitiesOther school related activities
SubsectionCharitable Organization
Ruling Date12/1965
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period11/2010
Assets$100,000 to $499,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$218,360
Amount of Income$209,947
Form 990 Revenue Amount$209,947
National Taxonomy of Exempt Entities (NTEE)Recreation, Sports, Leisure, Athletics: Golf


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Amount of income in 2010: $209,947
United States Golf Association Foundation Inc: 

 $209,947
Other organizations performing similar types of work: 

 $242,334

Assets in 2010: $218,360
This organization: 

 $218,360
Other organizations performing similar types of work: 

 $218,360

Expenses in 2006: $32,766,990
United States Golf Association Foundation Inc: 

 $32,766,990
Other organizations performing similar types of work: 

 $265,270

Income to expenses ratio in 2006: 0.3
This organization: 

 0.3
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2006: 8.1%
This organization: 

 8.1%
Other organizations performing similar types of work: 

 46.5%

Grants share in income in 2006: 0.4%
United States Golf Association Foundation Inc: 

 0.4%
Other organizations performing similar types of work: 

 0.2%

Financial snapshot ($)

Revenue for 2006

Assets at end of 2006

Expenses for 2006

Functional Expenses for 2006 ($)

Income-Producing Activities for 2006

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2000200120022003200420052006
Total revenue$20,248,221$9,623,251$16,262,888$21,984,529$21,462,813$14,842,868$11,366,864
Contributions, gifts, grants, and similar amounts received$15,226,431$20,177,468$13,241,752$11,246,601$112,174$6,500$50,750
Contributions to donor advised funds$0
Direct public support$194,592$177,468$241,752$246,601$112,174$6,500$50,750
Indirect public support$15,031,839$20,000,000$13,000,000$11,000,000$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$181,457$429,882$334,711$449,622$361,967$343,653$451,495
Membership dues and assessments$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$0$0$0$8,375$3,378$3,126$8,143
Dividends and interest from securities$2,679,317$1,878,686$1,289,499$1,564,306$2,165,269$3,033,920$2,796,731
Net rental income or (loss)$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$2,161,016$-12,862,785$1,396,926$8,715,625$18,820,025$11,455,669$8,059,745
Gross amount from sales of assets other than inventory$113,310,648$119,418,321$67,401,936$81,130,164$158,061,759$55,363,105$41,777,772
Less: cost or other basis and sales expenses$111,149,632$132,281,106$66,005,010$72,414,539$139,241,734$43,907,436$33,718,027
Net income or (loss) from special events and activities$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0
Total expenses$15,495,040$14,317,287$14,425,333$12,550,363$23,233,137$32,715,244$32,766,990
Program services$14,630,449$13,493,465$13,695,056$11,978,042$2,471,293$2,262,670$2,649,471
Management and general$864,591$823,822$730,277$572,321$717,844$408,574$73,519
Fundraising$0$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$20,044,000$30,044,000$30,044,000
Net assets or fund balances at end of year$96,352,319$90,955,788$106,439,994$125,013,351$115,871,142$96,796,416$73,578,563
Excess or (deficit) for the year$4,753,181$-4,694,036$1,837,555$9,434,166$-1,770,324$-17,872,376$-21,400,126
Net assets or fund balances at beginning of year$117,494,763$96,352,319$90,955,789$106,439,994$125,013,350$115,871,142$96,796,416
Other changes in net assets or fund balances$-25,895,625$-702,495$13,646,650$9,139,191$-7,371,884$-1,202,350$-1,817,727
Statement of Functional Expenses (for 2006)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$2,722,990$2,649,471$73,519$0
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$89,365$89,365$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$10,000$0$10,000$0
Legal fees$48,313$48,223$90$0
Supplies$33,150$33,150$0$0
Telephone$14,000$14,000$0$0
Postage and shipping$26,294$26,270$24$0
Occupancy$556,986$556,986$0$0
Equipment rental and maintenance$49,799$49,799$0$0
Printing and publications$386$386$0$0
Travel$32,701$32,701$0$0
Conferences, conventions, and meetings$6,648$6,648$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$79,818$79,818$0$0
Other expenses not covered above$1,775,530$1,712,125$63,405$0
Balance Sheets
2000200120022003200420052006
Total assets$100,902,589$110,767,289$126,246,307$127,768,448$116,013,645$97,999,317$73,868,442
Cash - non-interest-bearing$211,914$62,940$323,965$188,676$29,483$53,529$140,820
Savings and temporary cash investments$0$0$0$0$0$0$0
Accounts receivable less allowance for doubtful accounts$1,727$189,967$36,097$9,977$87,758$112,139$128,160
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0
Other notes and loans receivable less allowance for doubtful accounts$24,000$24,000$24,000$22,800$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$171,933$128,866$108,758$15,091$4,000$4,415$18,414
Investments - publicly-traded securities$73,459,385
Investments - other securities$99,747,367$90,402,224$109,699,261$126,795,989$115,572,843$97,529,463$12,516
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$745,648$14,537,705$14,871,557$516,665$319,561$299,771$109,147
Other assets, including program-related investments$0$5,421,587$1,182,669$219,250$0$0$0
Total liabilities$4,550,270$19,811,500$19,806,313$2,755,098$142,503$1,202,901$289,879
Accounts payable and accrued expenses$601,813$926,162$991,575$435,793$115,467$157,727$124,523
Grants payable$3,948,457$2,885,338$2,814,738$2,319,305$0$0$0
Deferred revenue$0$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0
Mortgages and other notes payable$0$16,000,000$16,000,000$0$0$0$0
Other liabilities$0$0$0$0$27,036$1,045,174$165,356
Total liabilities and net assets/fund balances$100,902,589$110,767,289$126,246,307$127,768,448$116,013,645$97,999,317$73,868,442
Total net assets or fund balances$96,352,319$90,955,789$106,439,994$125,013,350$115,871,142$96,796,416$73,578,563
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
2000200120022003200420052006
Total revenue$20,248,221$9,623,251$16,262,888$21,984,528$21,462,813$14,842,868$11,366,864
Total revenue, gains, and other support per audited financial statements$19,543,114$8,944,255$29,397,880$30,619,378$20,869,256$14,522,130$11,342,157
Other expenses$0$0$13,646,651$9,139,191$0$0$0
Net unrealized gains on investments$0$0$13,646,651$9,139,191$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Other revenue$705,107$678,996$511,659$504,341$593,557$320,738$24,707
Investment expenses$705,107$678,996$511,659$504,341$593,557$320,738$24,707
Other$0$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
2000200120022003200420052006
Total expenses$15,495,041$14,317,287$14,425,333$12,550,363$23,233,137$32,715,244$32,766,990
Total expenses and losses per audited financial statements$40,685,559$14,340,786$13,913,674$12,046,022$22,639,580$32,394,506$32,742,283
Other revenue$25,895,625$702,495$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0
Losses$25,895,625$702,495$0$0$0$0$0
Other$0$0$0$0$0$0$0
Other expenses$705,107$678,996$511,659$504,341$593,557$320,738$24,707
Investment expenses$705,107$678,996$511,659$504,341$593,557$320,738$24,707
Other$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings16
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?Yes
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2006)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$10,868,130$447,984
Program service revenue
Program service revenue 1000000$000$0$443,003
Program service revenue 2000000$000$0$4,981
Program service revenue 3000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$3,511$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$8,143$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$2,796,731$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$8,059,745$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2006)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
0000000000%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2006)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2006)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isNot controlled by disqualified persons/supports non private foundation
Type of supporting organizationType I
Support Schedule
1999200020012002200320042005
Total$23,706,109$20,248,221$22,486,034$14,865,963$0$0$0
Gifts, grants, and contributions received$10,200,930$15,226,431$20,177,468$13,241,752$0$0$0
Membership fees received$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$226,354$75,888$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$13,505,179$5,021,790$2,082,212$1,548,323$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2006)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1United States Golf Association77 Liberty Corner Rd, Far Hills, NJ 07931-2570NJ1974-05$364,323,037
2Municipal Golf Of SeattleSeattle, WA 98104WA$5,315,927
3The Florida State Golf Association Inc12630 Telecom Dr, Temple Terr, FL 33637-0935FL1992-02$4,879,790
4Chicago District Golf Association11855 Archer Ave, Lemont, IL 60439-6727IL1944-07$3,705,202
5Vallejo Golf Club Inc655 Columbus Parkway, Vallejo, CA 94591CA1947-01$3,614,981
6Beacon Woods Golf Club IncHudson, FL 34667FL$1,337,883
7Detroit Country Club IncPO BOX 785, Detroit Lakes, MN 56502-0785MN1995-02$1,138,737
8Missouri Golf AssociationPO BOX 104164, Jefferson Cty, MO 65110-4164MO1989-05$608,075
9Thornridge Golf Corp801 S D St, Milford, NE 68405-9374NE1984-09$312,830
10Sand Hill River Golf Course IncFertile, MN 56540MN$271,540
11New Hampshire Womens Golf AssociationPO BOX 1566, Derry, NH 03038-6566NH1978-06$242,334
12United States Golf Association Foundation Inc77 Liberty Corner Rd, Far Hills, NJ 07931-2570NJ1965-12$209,947
13Oakcrest Golf Club IncPO BOX 69, Roseau, MN 56751-0069MN1978-05$196,900
14Yakima Youth Golf OrganizationPO BOX 787, Yakima, WA 98907-0787WA2007-06$177,147
15Salmon City Golf Association IncPO BOX 2424, Salmon, ID 83467-2424ID1978-01$157,020
16Clinton Golf Association1650 S 5th St, Clinton, IN 47842-2538IN1995-07$156,142
17Green County Golf Association IncPO BOX 97, Greensburg, KY 42743-0097KY1968-01$144,854
18Silver Bay Country ClubPO BOX 38, Silver Bay, MN 55614-0038MN2007-03$188,288
19New Links Usa17 Strathkinness High Rd Ky16 9ua, St. Andrewsinternational2007-12$400
20Bluebonnet Golf Club2504 Deer Horn Dr, Plano, TX 75025-4182TX2001-02$0
Number of organizations performing similar types of work
California1
Florida2
Idaho1
Illinois1
Indiana1
Kentucky1
Maryland1
Minnesota5
Missouri1
Nebraska3
New Hampshire1
New Jersey2
Pennsylvania1
Texas1
Washington2
International1
Total25

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