| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| 22,400 | 0 | 22,400 | 22,400 |
| Name | Date Acquired | How Acquired | Date Sold | Purchaser Name | Gross Sales Price | Basis | Basis Method | Sales Expenses | Total (net) | Accumulated Depreciation |
|---|---|---|---|---|---|---|---|---|---|---|
| SCOREBOARD AND WALKBRIDGE | PURCHASED | 18,000 | COST | 0 | 18,000 | |||||
| 6 ARLMESS PADDINGTON LEATHER BAR CHAIRS | PURCHASED | 2,850 | COST | 0 | 2,850 | |||||
| NEW HEADERS FOR STANDARDS AND DRIVING | PURCHASED | 721 | COST | 0 | 721 |
| Category / Item | Cost / Other Basis | Accumulated Depreciation | Book Value | End of Year Fair Market Value |
|---|---|---|---|---|
| 5400 DORCHESTER | 830,583 | 103,823 | 726,760 | 726,760 |
| 5412 DORCHESTER | 376,038 | 45,438 | 330,600 | 330,600 |
| OPERATIONS BUILDING (3211 FOYSYTH DRIVE) | 755,916 | 66,143 | 689,773 | 689,773 |
| 5400 DORCHESTER IMPROVEMENTS | 218,169 | 96,358 | 121,811 | 121,811 |
| 5412 DORCESTER IMPROVEMENTS | 68,663 | 30,898 | 37,765 | 37,765 |
| VARIOUS (5400 DORCHESTER | 69,957 | 61,795 | 8,162 | 8,162 |
| VARIOUS (5412 DORCHESTER) | 8,027 | 7,091 | 936 | 936 |
| 5400 WAYNE ROAD (GOLD PARKING LOT) | 427,621 | 0 | 427,621 | 427,621 |
| 3005 NEAR WEST SEDGEFIELD DRIVE | 39,836 | 0 | 39,836 | 39,836 |
| LAND 5400 DORCHESTER | 220,130 | 0 | 220,130 | 220,130 |
| LAND - 5412 DORCHESTER | 301,232 | 0 | 301,232 | 301,232 |
| GOLD LOT INFRASTRUCTURE WORK | 16,500 | 5,294 | 11,206 | 11,206 |
| RETAINING WALL 5400 DORCHESTER | 26,630 | 6,214 | 20,416 | 20,416 |
| LANDSCAPING - 5400 DORCHESTER | 7,426 | 1,671 | 5,755 | 5,755 |
| SHORT GAME AREA | 1,581,323 | 270,143 | 1,311,180 | 1,311,180 |
| SHORT GAME AREA IMPROVEMENT TO ASSET 317 | 22,650 | 2,548 | 20,102 | 20,102 |
| SHORT GAME AREA IMPROVEMENT TO ASSET 317 | 33,669 | 3,507 | 30,162 | 30,162 |
| PERPETUAL TROPHY | 6,945 | 6,945 | 0 | |
| FENCING FROM SIGNATURE SYSTEMS | 8,000 | 8,000 | 0 | |
| 42IN PICKET FENCING 80 SECTIONS | 8,394 | 8,394 | 0 | |
| 42" PICKET PANEL FENCING | 8,376 | 8,376 | 0 | |
| EPI SUITE LITE USB HUB | 816 | 816 | 0 | |
| 40 PIECES WHILE PLASTIC FENCING 42" X 6' | 4,080 | 4,080 | 0 | |
| 50 PIECES CROWD CONTROL BARRICADE W/2 FLAT FT | 4,450 | 4,450 | 0 | |
| FLAGS FOR BRANDING AROUND BLEACHERS | 2,452 | 2,452 | 0 | |
| 1/3 OF SIGNAGE FOR WYNDHAM TOURNAMENT | 7,301 | 7,301 | 0 | |
| RE-ROUTING OF CABLES ON COURSE | 5,582 | 5,582 | 0 | |
| PHONE LINE TERMINALS FOR SHOTLINK | 3,693 | 3,693 | 0 | |
| SHELVING & DOCK BOARD - WAREHOUSE | 8,495 | 8,495 | 0 | |
| DRIVING RANGE NETTING | 51,476 | 51,476 | 0 | |
| BARRICADE COVERS | 4,204 | 4,204 | 0 | |
| ARTWOKR & FRAMING - MEN'S LOCKER ROOM | 5,133 | 5,133 | 0 | |
| (5) WC RUGS FOR CLUBHOUSE | 8,414 | 8,414 | 0 | |
| (6) ARMLESS PADDINGTON LEATHER BAR STOOLS | 2,850 | 2,850 | 0 | |
| WC SIGNAGE FOR SCC | 41,706 | 41,706 | 0 | |
| FENCE AT CART SHED | 2,865 | 2,865 | 0 | |
| 5 COOL-MIST FANS | 4,250 | 4,250 | 0 | |
| IPADS (MARK, BOBBY, STEVE, TERRY, & KELLY) | 3,906 | 3,906 | 0 | |
| TEEBOX COOLERS | 3,609 | 3,609 | 0 | |
| RECYCLING CONTAINERS | 7,048 | 7,048 | 0 | |
| DOWNTOWN STREET BANNERS | 8,583 | 8,583 | 0 | |
| TIKI BARS & CUBBY SHELF | 6,000 | 6,000 | 0 | |
| SIGN REVISIONS | 7,000 | 7,000 | 0 | |
| STANDARD BEARER SIGNS | 11,059 | 11,059 | 0 | |
| BARRICADE COVERS | 4,188 | 4,188 | 0 | |
| ADIRONDACK CHAIRS | 2,700 | 2,700 | 0 | |
| HOLE SIGNS | 15,564 | 15,564 | 0 | |
| SERVING COUNTERS, TIKI BAR, LEGENDS BAR | 15,000 | 15,000 | 0 | |
| HISTORY WALL | 26,688 | 26,688 | 0 | |
| CREDENTIAL MACHINE | 5,319 | 5,319 | 0 | |
| PARKING LOT, EXPANSION + CART PATHS | 114,578 | 114,578 | 0 | |
| CART PATHS | 5,330 | 5,330 | 0 | |
| NEW HEADERS FOR STANDARDS & DRIVING RANGE SIG | 721 | 721 | 0 | |
| GRASSMATS | 24,362 | 23,200 | 1,162 | 1,162 |
| MINIATURE GOLF COURSE | 5,466 | 5,466 | 0 | |
| CART PATH ADJUSTMENT ON HOLE #13 | 39,236 | 35,312 | 3,924 | 3,924 |
| TELEVISIONS FOR HOSPITALITY AREAS | 15,822 | 2,637 | 13,185 | 13,185 |
| (13) ENTRANCE POLE BANNERS | 23,624 | 1,575 | 22,049 | 22,049 |
| 2002 CHEVY SILVERADO | 10,797 | 10,797 | 0 | |
| 2014 FORD EXPLORER | 26,311 | 26,311 | 0 | |
| 2016 CHEVROLET SUBURBAN | 38,700 | 38,700 | 0 | |
| 2022 HYUNDIA PALISADE | 45,634 | 20,535 | 25,099 | 25,099 |
| 2023 CADILLAC XT6 | 71,419 | 2,381 | 69,038 | 69,038 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| 16,955 | 0 | 16,955 | 16,955 |
| Item No. | 1 |
|---|---|
| Lender's Name | TRUIST |
| Lender's Title | |
| Relationship to Insider | NONE |
| Original Amount of Loan | 6,400,000 |
| Balance Due | 0 |
| Date of Note | 2008-02 |
| Maturity Date | 2023-03 |
| Repayment Terms | ACCRUED INTEREST MONTHLY; PRINCIPAL $400,000/YEAR; BALANCE DUE 5/15/16. |
| Interest Rate | 3.470000000000 |
| Security Provided by Borrower | BANK & INVESTMENT ACCOUNTS; GUARANTEED BY OTHER TRUST AND OTHER FOUNDATION. |
| Purpose of Loan | BUYOUT OF LONG-TERM LEASE. |
| Description of Lender Consideration | NONE |
| Consideration FMV |
| Item No. | 2 |
|---|---|
| Lender's Name | TRUIST |
| Lender's Title | |
| Relationship to Insider | NONE |
| Original Amount of Loan | 888,250 |
| Balance Due | 667,599 |
| Date of Note | 2019-01 |
| Maturity Date | 2026-01 |
| Repayment Terms | PAYABLE IN MONTLY INSTALLMENTS OF $7,072 PLUS INTEREST AT 5.03%. |
| Interest Rate | 5.030000000000 |
| Security Provided by Borrower | SECURED BY A BUILDING WITH A CARRYING VALUE OF $809,819. |
| Purpose of Loan | REAL PROPERTY |
| Description of Lender Consideration | NONE |
| Consideration FMV |
| Item No. | 3 |
|---|---|
| Lender's Name | TRUIST |
| Lender's Title | |
| Relationship to Insider | NONE |
| Original Amount of Loan | 452,455 |
| Balance Due | 342,404 |
| Date of Note | 2019-03 |
| Maturity Date | 2026-03 |
| Repayment Terms | PAYABLE IN MONTHLY INSTALLMENTS OF $3,603 PLUS INTEREST AT 5.03%. |
| Interest Rate | 5.030000000000 |
| Security Provided by Borrower | SECURED BY A BUILDING WITH A CARRYING VALUE OF $368,204. |
| Purpose of Loan | REAL PROPERTY |
| Description of Lender Consideration | NONE |
| Consideration FMV |
| Item No. | 4 |
|---|---|
| Lender's Name | PGA TOUR |
| Lender's Title | |
| Relationship to Insider | NONE |
| Original Amount of Loan | 1,000,000 |
| Balance Due | 500,000 |
| Date of Note | 2020-08 |
| Maturity Date | 2026-02 |
| Repayment Terms | ANNUAL PAYMENTS OF $166,657 |
| Interest Rate | 1.000000000000 |
| Security Provided by Borrower | NONE |
| Purpose of Loan | TO COVER OPERATING LOSSES FROM THE 2020 TOURNAMENT. |
| Description of Lender Consideration | |
| Consideration FMV |
| Item No. | 5 |
|---|---|
| Lender's Name | PGA TOUR |
| Lender's Title | |
| Relationship to Insider | NONE |
| Original Amount of Loan | 1,000,000 |
| Balance Due | 500,000 |
| Date of Note | 2020-08 |
| Maturity Date | 2026-02 |
| Repayment Terms | ANNUAL PAYMENTS OF $166,667 |
| Interest Rate | 0.000000000000 |
| Security Provided by Borrower | NONE |
| Purpose of Loan | TO COVER OPERATING LOSSES FROM THE 2020 TOURNAMENT. |
| Description of Lender Consideration | |
| Consideration FMV |
| Item No. | 6 |
|---|---|
| Lender's Name | SMALL BUSINESS ADMINISTRATION |
| Lender's Title | |
| Relationship to Insider | NONE |
| Original Amount of Loan | 150,000 |
| Balance Due | 130,558 |
| Date of Note | 2020-06 |
| Maturity Date | 2050-08 |
| Repayment Terms | MONTHLY INSTALLMENTS OF $641 BEGINNING JUNE 2021. |
| Interest Rate | 2.750000000000 |
| Security Provided by Borrower | ALL TANGIBLE AND INTANGIBLE PERSONAL PROPERTY OF THE BORROWER. |
| Purpose of Loan | ECONOMIC INJURY DISASTER LOAN. |
| Description of Lender Consideration | |
| Consideration FMV |
| Item No. | 7 |
|---|---|
| Lender's Name | PGA TOUR |
| Lender's Title | |
| Relationship to Insider | NONE |
| Original Amount of Loan | 1,200,000 |
| Balance Due | 1,200,000 |
| Date of Note | 2023-03 |
| Maturity Date | 2026-02 |
| Repayment Terms | ANNUAL INSTALLMENTS OF $400,000 |
| Interest Rate | 2.250000000000 |
| Security Provided by Borrower | NONE |
| Purpose of Loan | BUYOUT OF LONG-TERM LEASE. |
| Description of Lender Consideration | |
| Consideration FMV |
| Item No. | 8 |
|---|---|
| Lender's Name | ALLY BANK |
| Lender's Title | |
| Relationship to Insider | NONE |
| Original Amount of Loan | 71,419 |
| Balance Due | 71,419 |
| Date of Note | 2023-11 |
| Maturity Date | 2029-11 |
| Repayment Terms | MONTHLY INSTALLMENTS OF $1,290 |
| Interest Rate | 8.950000000000 |
| Security Provided by Borrower | VEHICLE |
| Purpose of Loan | |
| Description of Lender Consideration | |
| Consideration FMV |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| TOURNAMENT ACQUISITION COST | 543,134 | 525,134 | 525,134 |
| LESS ACCUMULATED AMORTIZATION | -543,134 | -525,134 | -525,134 |
| INTEREST IN TOURNAMENT DIRECTOR LIFE INSURANCE POLICY | 187,990 | 205,080 | 205,080 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| RENT | 438,689 | 0 | 438,689 | 458,168 |
| GENERAL AND ADMINISTRATIVE | 165,260 | 0 | 165,260 | 165,686 |
| PURSE, PERSONNEL, AND GENERAL GOLF TOURNAMENT EXPENSES | 7,749,475 | 0 | 7,749,475 | 7,773,916 |
| TOURNAMENT OPERATIONS | 2,579,207 | 0 | 2,579,207 | 2,658,905 |
| COURSE SALES (CLOTHING, CONCESSIONS, TICKETS) | 484,705 | 0 | 484,705 | 554,037 |
| MEDIA | 316,224 | 0 | 316,224 | 318,723 |
| HOSPITALITY | 3,052,508 | 0 | 3,052,508 | 2,907,550 |
| OFFICIAL TOURNAMENT PROGRAM EXPENSES | 28,196 | 0 | 28,196 | 0 |
| OFFICIAL DAILY PAIRINGS GUIDE EXPENSES | 19,008 | 0 | 19,008 | 0 |
| LESS WYNDHAM CHAMPIONSHIP INCOME | 0 | 0 | 0 | -16,109,236 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| SPONSOR SALES | 1,598,000 | 1,598,000 | |
| HOSPITALITY | 3,477,352 | 3,477,352 | |
| TOURNAMENT ADMISSION | 328,422 | 328,422 | |
| CONCESSIONS, CLOTHING, AND PARKING | 1,024,698 | 1,024,698 | |
| SPONSORSHIP RECOGNITION | 1,012,096 | 1,012,096 | |
| PARTY SPONSORSHIPS | 107,250 | 107,250 | |
| TITLE SPONSOR, PGA REIMBURSEMENT, AND OTHER | 8,561,418 | 8,561,418 | |
| ADVERTISING REVENUE - OFFICIAL TOURNAMENT PROGRAM | 28,537 | 28,537 | |
| ADVERTISING REVENUE - OFFICAL DAILY PAIRINGS GUIDE | 19,167 | 19,167 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| PAYROLL TAXES | 84,939 | 0 | 84,939 | 84,939 |
| UNRELATED BUSINESS INCOME TAX | 2,078 | 0 | 2,078 | 0 |