Attach to Form 990 or Form 990-EZ.
Go to
www.irs.gov/Form990 for instructions and the latest information.
| (i) Name of supported organization | (ii) EIN | (iii) Type of organization (described on lines 1- 10 above (see instructions)) | (iv) Is the organization listed in your governing document? | (v) Amount of monetary support (see instructions) | (vi) Amount of other support (see instructions) | |
|---|---|---|---|---|---|---|
| Yes | No | |||||
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Total |
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Calendar year
(or fiscal year beginning in)
![]() |
(a) 2020 | (b) 2021 | (c) 2022 | (d) 2023 | (e) 2024 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 1 | Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") .. | 5,780,347 | 11,448,682 | 13,816,527 | 14,691,847 | 9,455,144 | 55,192,547 |
| 2 | Tax revenues levied for the organization's benefit and either paid to or expended on its behalf .... | ||||||
| 3 | The value of services or facilities furnished by a governmental unit to the organization without charge.. | ||||||
| 4 | Total. Add lines 1 through 3 | 5,780,347 | 11,448,682 | 13,816,527 | 14,691,847 | 9,455,144 | 55,192,547 |
| 5 | The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f) .. | 29,735,106 | |||||
| 6 | Public support. Subtract line 5 from line 4. | 25,457,441 | |||||
Calendar year
(or fiscal year beginning in)
![]() |
(a) 2020 | (b) 2021 | (c) 2022 | (d) 2023 | (e) 2024 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 7 | Amounts from line 4.. | 5,780,347 | 11,448,682 | 13,816,527 | 14,691,847 | 9,455,144 | 55,192,547 |
| 8 | Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources... | 1,369,344 | 4,044,686 | 1,193,145 | 3,115,274 | 4,728,789 | 14,451,238 |
| 9 | Net income from unrelated business activities, whether or not the business is regularly carried on.. | ||||||
| 10 | Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.).. | 527,760 | 284,925 | 1,017,951 | 8,851 | 5,735 | 1,845,222 |
| 11 | Total support. Add lines 7 through 10 | 71,489,007 | |||||
Calendar year (or fiscal
year beginning in) ![]() |
(a) 2020 | (b) 2021 | (c) 2022 | (d) 2023 | (e) 2024 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 1 | Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") . | ||||||
| 2 | Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose | ||||||
| 3 | Gross receipts from activities that are not an unrelated trade or business under section 513 ..... | ||||||
| 4 | Tax revenues levied for the organization's benefit and either paid to or expended on its behalf... | ||||||
| 5 | The value of services or facilities furnished by a governmental unit to the organization without charge | ||||||
| 6 | Total. Add lines 1 through 5 | ||||||
| 7a | Amounts included on lines 1, 2, and 3 received from disqualified persons | ||||||
| b | Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year. | ||||||
| c | Add lines 7a and 7b.. | ||||||
| 8 | Public support. (Subtract line 7c from line 6.) | ||||||
Calendar year
(or fiscal year beginning in)
![]() |
(a) 2020 | (b) 2021 | (c) 2022 | (d) 2023 | (e) 2024 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 9 | Amounts from line 6... | ||||||
| 10a | Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources.. | ||||||
| b | Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975. | ||||||
| c | Add lines 10a and 10b. | ||||||
| 11 | Net income from unrelated business activities not included on line 10b, whether or not the business is regularly carried on. | ||||||
| 12 | Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) .. | ||||||
| 13 | Total support. (Add lines 9, 10c, 11, and 12.).. | ||||||
| Section A - Adjusted Net Income | (A) Prior Year |
(B) Current Year (optional) |
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| 1 | Net short-term capital gain | 1 | ||||
| 2 | Recoveries of prior-year distributions | 2 | ||||
| 3 | Other gross income (see instructions) | 3 | ||||
| 4 | Add lines 1 through 3 | 4 | ||||
| 5 | Depreciation and depletion | 5 | ||||
| 6 | Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions) | 6 | ||||
| 7 | Other expenses (see instructions) | 7 | ||||
| 8 | Adjusted Net Income (subtract lines 5, 6 and 7 from line 4) | 8 | ||||
| Section B - Minimum Asset Amount | (A) Prior Year |
(B) Current Year (optional) |
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| 1 | Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year): | 1 | ||||
| a | Average monthly value of securities | 1a | ||||
| b | Average monthly cash balances | 1b | ||||
| c | Fair market value of other non-exempt-use assets | 1c | ||||
| d | Total (add lines 1a, 1b, and 1c) | 1d | ||||
| e |
Discount claimed for blockage or other factors (explain in detail in Part VI): |
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| 2 | Acquisition indebtedness applicable to non-exempt use assets | 2 | ||||
| 3 | Subtract line 2 from line 1d | 3 | ||||
| 4 | Cash deemed held for exempt use. Enter 0.015 of line 3 (for greater amount, see instructions). | 4 | ||||
| 5 | Net value of non-exempt-use assets (subtract line 4 from line 3) | 5 | ||||
| 6 | Multiply line 5 by 0.035 | 6 | ||||
| 7 | Recoveries of prior-year distributions | 7 | ||||
| 8 | Minimum Asset Amount (add line 7 to line 6) | 8 | ||||
| Section C - Distributable Amount | Current Year | |||||
| 1 | Adjusted net income for prior year (from Section A, line 8, Column A) | 1 | ||||
| 2 | Enter 85% of line 1 | 2 | ||||
| 3 | Minimum asset amount for prior year (from Section B, line 8, Column A) | 3 | ||||
| 4 | Enter greater of line 2 or line 3 | 4 | ||||
| 5 | Income tax imposed in prior year | 5 | ||||
| 6 | Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions) | 6 | ||||
| Section D - Distributions | Current Year | |
|---|---|---|
| 1 Amounts paid to supported organizations to accomplish exempt purposes | 1 | |
|
2
Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in excess of income from activity |
2 | |
| 3 Administrative expenses paid to accomplish exempt purposes of supported organizations | 3 | |
| 4 Amounts paid to acquire exempt-use assets | 4 | |
| 5 Qualified set-aside amounts (prior IRS approval required - provide details in Part VI) | 5 | |
| 6 Other distributions (describe in Part VI). See instructions | 6 | |
| 7Total annual distributions. Add lines 1 through 6. | 7 | |
|
8
Distributions to attentive supported organizations to which the organization is responsive (provide details in Part VI). See instructions |
8 | |
| 9 Distributable amount for 2024 from Section C, line 6 | 9 | |
| 10 Line 8 amount divided by Line 9 amount | 10 | |
| Section E - Distribution Allocations (see instructions) |
(i) Excess Distributions |
(ii) Underdistributions Pre-2024 |
(iii) Distributable Amount for 2024 |
|
|---|---|---|---|---|
| 1 Distributable amount for 2024 from Section C, line 6 | ||||
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2
Underdistributions, if any, for years prior to 2024 (reasonable cause required-- explain in Part VI).
See instructions. |
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| 3 Excess distributions carryover, if any, to 2024: | ||||
| a From 2019....... | ||||
| b From 2020....... | ||||
| c From 2021....... | ||||
| d From 2022....... | ||||
| e From 2023....... | ||||
| fTotal of lines 3a through e | ||||
| g Applied to underdistributions of prior years | ||||
| h Applied to 2024 distributable amount | ||||
|
i
Carryover from 2019 not applied (see instructions) |
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| j Remainder. Subtract lines 3g, 3h, and 3i from line 3f. | ||||
| 4Distributions for 2024 from Section D, line 7: | ||||
| $ | ||||
| a Applied to underdistributions of prior years | ||||
| b Applied to 2024 distributable amount | ||||
| c Remainder. Subtract lines 4a and 4b from line 4. | ||||
|
5
Remaining underdistributions for years prior to 2024, if any. Subtract lines 3g and 4a from line 2. If the amount is greater than zero, explain in Part VI. See instructions. |
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6
Remaining underdistributions for 2024. Subtract lines 3h and 4b from line 1. If the amount is greater than zero, explain in Part VI. See instructions. |
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7 Excess distributions carryover to 2025. Add lines 3j and 4c. |
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| 8 Breakdown of line 7: | ||||
| a Excess from 2020..... | ||||
| b Excess from 2021..... | ||||
| c Excess from 2022..... | ||||
| d Excess from 2023..... | ||||
| e Excess from 2024..... | ||||
| Facts And Circumstances Test |
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| Return Reference | Explanation |
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| SCHEDULE A, PART II SECTION A | THE TIGER WOODS FOUNDATION IS EXEMPT AS A SCHOOL DESCRIBED IN SECTION 170(B)(1)(A)(II). HOWEVER, IT IS COMPLETING PART II TO DEMONSTRATE THAT IT QUALIFIES FOR THE SPECIAL RULES PROVISION ON SCHEDULE B AND MEETS THE 33 1/3% SUPPORT TEST OF THE REGULATIONS UNDER SECTIONS 509(A)(1) ON 170(B)(1)(A)(VI). |
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| SCHEDULE E, PART I, LINE 3 | TGR'S NONDISCRIMINATORY POLICY WAS INADVERTENTLY MOVED FROM ITS INTERNET LANDING HOMEPAGE TO ITS SECONDARY PAGE FOR ITS EARL WOODS SCHOLAR PROGRAM PAGE WHERE POTENTIAL STUDENTS OBTAIN INFORMATION REGARDING THE SCHOLARSHIP PROGRAM. TGR IS IN THE PROCESS OF READDING THIS POLICY TO ITS INTERNET LANDING HOMEPAGE. TGRF HAS UPDATED ITS INTERNET LANDING HOMEPAGE TO REFLECT THIS POLICY DISCLOSURE. |
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| FORM 990, PART III, LINE 2 | TGR FOUNDATION OPENED ITS SECOND TGR LEARNING LAB IN WEST PHILADELPHIA, PA, ON APRIL 1, 2025. IN TOTAL, 6,436 PROGRAM PARTICIPANTS WERE SERVED THROUGH PRE-BUILDING PROGRAMMING FACILITATED AT LOCAL SCHOOLS AND COMMUNITY SITES AND PROGRAMMING FACILITATED IN NEW 30,000-SQUARE-FOOT BUILDING. CUMULATIVELY, TGR FOUNDATION SERVED 86% MORE PROGRAM PARTICIPANTS YEAR-OVER-YEAR DURING THE 2024/2025 ACADEMIC YEAR. |
| FORM 990, PART III, LINE 4A CONTINUED | STEAM EDUCATIONAL ENRICHMENT TGR LEARNING LABS AUGMENT TRADITIONAL SCHOOLING BY DELIVERING EXPERIENTIAL OFFERINGS THAT RENEW EXCITEMENT FOR LEARNING. THEY ALSO ALLOW STUDENTS TO EXPLORE A WIDE RANGE OF SUBJECTS THAT SPARK NEW INTERESTS AND BROADEN THEIR UNDERSTANDING OF PROFESSIONAL OPPORTUNITIES THEY CAN ATTAIN IF THEY REMAIN INVESTED IN THEIR EDUCATION. 13,659 PROGRAM PARTICIPANTS WERE SERVED THROUGH STEAM EDUCATIONAL ENRICHMENT PROGRAMMING DURING THE 2024/2025 ACADEMIC YEAR AT THE TGR LEARNING LABS IN ANAHEIM AND PHILADELPHIA. SCHOOL DAY PROGRAMMING EACH WEEK DURING THE SCHOOL YEAR, 5TH 12TH GRADE STUDENTS TRAVEL TO TGR LEARNING LABS DURING THE DAY TO PARTICIPATE IN EXPERIENTIAL STEAM WORKSHOPS AND ACTIVITIES IN SUBJECTS SUCH AS FORENSIC SCIENCE, ROCKETRY, MUSIC PRODUCTION AND CIRCUITRY. THE ENRICHMENT PROGRAMMING IS DESIGNED TO MOTIVATE STUDENTS TO PURSUE STEAM-BASED EDUCATION AND EXPOSE THEM TO CAREERS, ESPECIALLY THOSE UNCOMMON IN UNDER-RESOURCED COMMUNITIES. ADDITIONALLY, STEAM WORKSHOPS ARE FACILITATED AT LOCAL SCHOOL SITES. 90% OF FIELD TRIP PARTICIPANTS REPORTED THAT THEY LEARNED SOMETHING NEW ABOUT STEAM TOPICS ON POST-PROGRAM SURVEYS. OUT-OF-SCHOOL-TIME PROGRAMMING STEAM-BASED COURSES, WORKSHOPS, CLUBS AND EVENTS FOR ELEMENTARY, MIDDLE AND HIGH SCHOOL STUDENTS ARE OFFERED AFTER SCHOOL AND ON SATURDAYS DURING THE ACADEMIC YEAR. THE SUBJECTS OF THESE HANDS-ON LEARNING OPPORTUNITIES ARE ALIGNED WITH HIGH-GROWTH STEAM INDUSTRIES AND ATTAINABLE CAREERS. WEEK-LONG, FULL-DAY CAMPS ARE OFFERED THROUGHOUT THE SUMMER. THESE ENRICHMENT OPPORTUNITIES ALLOW STUDENTS TO CULTIVATE A WIDE VARIETY OF STEAM-BASED SKILLS WHILE THEY DISCOVER THEIR PASSIONS AND HONE THEIR APTITUDES. AT THE TGR LEARNING LAB ANAHEIM, 92% OF AFTERSCHOOL COURSE PARTICIPANTS REPORTING LEARNING SOMETHING NEW ABOUT STEAM TOPICS, A 49% INCREASE FROM PRE-PROGRAM SURVEY RESULTS. HEALTH & WELL-BEING AT TGR LEARNING LABS, STUDENTS ARE EMPOWERED BY DEDICATED STAFF AND COMMUNITY MEMBERS TO BUILD CONFIDENCE AND VALUES THROUGH ATHLETICS, TO DEVELOP ESSENTIAL LIFE-READINESS SKILLS, TO LEAD HEALTHY AND ACTIVE LIFESTYLES, AND ULTIMATELY, TO DISCOVER THEIR INHERENT VALUE AND UNIQUE POTENTIAL. 941 PROGRAM PARTICIPANTS WERE SERVED THROUGH HEALTH AND WELL-BEING PROGRAMMING DURING THE 2024/2025 ACADEMIC YEAR AT THE TGR LEARNING LABS IN ANAHEIM AND PHILADELPHIA. ATHLETIC OPPORTUNITIES GOLF CLINICS AND ACTIVITIES THAT UTILIZE OUTDOOR GOLF FACILITIES AND INDOOR GOLF SIMULATOR ARE PROVIDED YEAR-ROUND. THESE OFFERINGS EXPOSE STUDENTS TO THE SPORT, WHICH IS LESS PREVALENT IN THE SURROUNDING UNDER-RESOURCED COMMUNITIES, AND HELP THEM TO DEVELOP FUNDAMENTAL GOLF SKILLS. AT THE TGR LEARNING LAB ANAHEIM, 82% OF PARTICIPANTS IN AFTERSCHOOL GOLF COURSES FELT CONFIDENT WHEN FACING NEW CHALLENGES, A 15% INCREASE FROM PRE-PROGRAM SURVEY RESULTS. ADDITIONALLY, 91% OF GOLF CLINIC PARTICIPANTS FELT THEIR INSTRUCTOR WANTED THEM TO DO THEIR BEST. LIFE READINESS SOCIAL-EMOTIONAL LEARNING IS A CORE COMPONENT OF ALL TGR LEARNING LAB OFFERINGS. DURING EARLY EDUCATION PROGRAMMING, STUDENTS ARE INSTRUCTED ON CONFLICT RESOLUTION, BUILDING TRUST AND DEVELOPING A POSITIVE RACIAL IDENTITY. PROGRAMMING FOR MIDDLE AND HIGH SCHOOL STUDENTS DISMANTLES EXPECTATIONS OF FAILURE, PROVIDES OPPORTUNITIES TO ACHIEVE GREATER SELF-UNDERSTANDING AND DISCOVER TALENTS, HEIGHTENS ASPIRATIONS AND CULTIVATES GRIT. AT THE TGR LEARNING LAB ANAHEIM, 72% OF AFTERSCHOOL COURSE PARTICIPANTS REPORTED BEING MORE CONFIDENT IN THEIR ABILITIES, A 28% INCREASE FROM PRE-PROGRAM SURVEY RESULTS. CAREER & COLLEGE READINESS TGR LEARNING LABS PREPARE STUDENTS TO PURSUE THEIR PASSIONS VIA CAREER-CONNECTED LEARNING OPPORTUNITIES AND POST-SECONDARY EDUCATION PREPARATION. CORRELATING LEARNING TO FUTURE POSSIBILITIES MOTIVATES STUDENTS TO GRADUATE HIGH SCHOOL, PURSUE MEANINGFUL WORK IN INDUSTRIES ALIGNED WITH THEIR INTERESTS AND COMPLETE POST-SECONDARY EDUCATION, WHEN NECESSARY. 3,193 PROGRAM PARTICIPANTS WERE SERVED THROUGH CAREER AND COLLEGE READINESS PROGRAMMING DURING THE 2024/2025 ACADEMIC YEAR AT THE TGR LEARNING LABS IN ANAHEIM AND PHILADELPHIA. TEEN CAREER READINESS UNIQUE PROGRAMMING CO-DEVELOPED WITH LOCAL INDUSTRY PARTNERS ALLOWS HIGH SCHOOL STUDENTS TO IMMERSE THEMSELVES IN THE WORK OF SPECIFIC CAREERS AND CULTIVATE REQUISITE DURABLE SKILLS. LEARNING ABOUT WORK EXPERIENCES ARE DESIGNED TO EXPOSE STUDENTS TO VIABLE FUTURE CAREERS, PRIMARILY THROUGH SESSIONS WITH INDUSTRY PROFESSIONALS. LEARNING THROUGH WORK OFFERINGS PROVIDE STUDENTS WITH OPPORTUNITIES TO FULFILL ACTUAL JOB RESPONSIBILITIES AND SOLVE REAL-WORLD PROBLEMS IN A SUPPORTIVE ENVIRONMENT. LEARNING AT WORK OPPORTUNITIES ALLOW STUDENTS TO VISIT WORKPLACES, SHADOW PROFESSIONALS AND PARTICIPATE IN MICRO-INTERNSHIPS. 95% OF CAREER READINESS PROGRAM PARTICIPANTS THE TGR LEARNING LAB ANAHEIM AND PHILADELPHIA REPORTED LEARNED ABOUT JOBS OR CAREERS THEY COULD HAVE IN THE FUTURE. COLLEGE READINESS DURING THE ACADEMIC YEAR, WORKSHOPS ARE PROVIDED AT TGR LEARNING LABS AND VIRTUALLY TO COACH HIGH SCHOOL STUDENTS ON THE CORE ELEMENTS OF THE COLLEGE APPLICATION AND FINANCIAL AID PROCESSES. TOPICS SUCH AS COLLEGE ADMISSIONS REQUIREMENTS, CREATING AN ACADEMIC RESUME, SEARCHING FOR AND APPLYING TO SCHOLARSHIPS AND COMPLETING THE FAFSA ARE COVERED. IN THE SUMMER, WEEK-LONG COLLEGE BOUND ACADEMIES COMPREHENSIVELY READY STUDENTS TO PURSUE HIGHER EDUCATION. 84% OF COLLEGE READINESS PROGRAM PARTICIPANTS AT THE TGR LEARNING LAB ANAHEIM AND PHILADELPHIA FELT MORE PREPARED TO APPLY FOR OR ATTEND COLLEGE. EDUCATOR PROGRAMMING THROUGHOUT THE YEAR, 90- TO 150-MINUTE PROFESSIONAL LEARNING WORKSHOPS FOR EDUCATORS ARE FACILITATED AT TGR LEARNING LABS, LOCAL SCHOOLS AND VIRTUALLY. THE TOPICS COVERED INCLUDE ELEVATING THE STUDENT VOICE, INCREASING STUDENT PARTICIPATION THROUGH HANDS-ON, INQUIRY-BASED LEARNING AND INTRODUCTIONS TO NEW STEAM TECHNOLOGIES THAT CAN BE LEVERAGED IN THE CLASSROOM. EACH SUMMER, TGR FOUNDATION OFFERS STEM STUDIO, A SERIES OF FOUR DISTINCT, SUCCESSIVE TRAINING MODULES ON INQUIRY-BASED LEARNING, STUDENT SKILL-BUILDING AND HOW TO INCORPORATE CONNECTIONS TO CAREERS INTO CURRICULUM. THE TEACHERS WHO PARTICIPATE RECEIVE UP TO 48 HOURS OF PROFESSIONAL DEVELOPMENT AND CREATE LESSON PLANS AND HANDS-ON ACTIVITIES TO USE IN THEIR CLASSROOMS. ADDITIONALLY, THE TEACHERS WHO ACCOMPANY THEIR CLASSES DURING THE SCHOOL DAY PROGRAMS AT THE TGR LEARNING LAB ANAHEIM DURING THE ACADEMIC YEAR PARTICIPATE IN A FOUR-DAY INTENSIVE DERIVED FROM STEM STUDIO. IN ASSOCIATION WITH THE DEPARTMENT OF DEFENSE STEM, TGR FOUNDATION ALSO CONDUCTS A YEAR-LONG INTENSIVE FOR A COHORT OF EDUCATORS ACROSS THE COUNTRY. AS WITH STEM STUDIO, THE PROGRAM TEACHES INQUIRY-BASED LEARNING ALONG WITH COMPUTATIONAL THINKING AND WORK-BASED LEARNING. EACH EDUCATOR IS PROVIDED A STIPEND FOR THEIR PARTICIPATION AND FUNDING FOR CLASSROOM SUPPLIES. 1,005 EDUCATORS WERE SERVED DURING THE 2024/2025 ACADEMIC YEAR, A 95% INCREASE YEAR-OVER-YEAR. |
| FORM 990, PART III, LINE 4C CONTINUED | EACH SCHOLAR RECEIVES COMPREHENSIVE SUPPORT FOR THE DURATION OF THEIR UNDERGRADUATE PROGRAM. THIS INCLUDES A DEDICATED MENTOR ALIGNED WITH THEIR INTERESTS, ASPIRATIONS AND BACKGROUND, WHEN POSSIBLE, A RENEWABLE SCHOLARSHIP AWARD OF UP TO $5,000 PER YEAR, ACCESS PERSONAL AND PROFESSIONAL DEVELOPMENT RETREATS, WORKSHOPS AND ACTIVITIES, CAREER AND/OR ADVANCED DEGREE ADVISEMENT AND A PRIVATE DIGITAL PLATFORM THAT FOSTERS COMMUNITY AND PROVIDES NETWORKING OPPORTUNITIES. THE ROBUSTNESS OF THE EARL WOODS SCHOLAR PROGRAM HAS RESULTED IN A CUMULATIVE GRADUATION RATE OF 98%. 96 SCHOLARS IN TOTAL WERE SUPPORTED BY THE EARL WOODS SCHOLAR PROGRAM DURING THE 2024/2025 ACADEMIC YEAR. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE FOUNDATION 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. |
| FORM 990, PART VI, SECTION B, LINE 11B | PROCESS FOR REVIEW OF FORM 990 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 BEFORE PROVIDING THE DRAFT TO THE AUDIT COMMITTEE. IN ADDITION TO CONSULTING WITH THE TREASURER AND EXECUTIVE STAFF, THE AUDIT COMMITTEE ALSO MEETS WITH THE ACCOUNTING FIRM HIRED TO PREPARE FORM 990. AFTER ITS REVIEW, THE AUDIT COMMITTEE REPORTS BACK TO THE BOARD REGARDING ITS OVERSIGHT OF FORM 990, AND THE FINAL DRAFT IS PROVIDED TO THE ENTIRE BOARD BEFORE THE RETURN IS FILED. |
| FORM 990, PART VI, SECTION B, LINE 12C | CONFLICT OF INTEREST POLICY UNDER 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 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 INCLUDE BUT ARE 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. |
| FORM 990, PART VI, SECTION B, LINE 15 | OFFICER COMPENSATION DETERMINATION THE BOARD APPOINTS A COMPENSATION COMMITTEE, NONE OF WHICH HAS A CONFLICT OF INTEREST CONCERNING THE COMPENSATION ARRANGEMENT, TO BE ACCOUNTABLE FOR SETTING REASONABLE COMPENSATION PACKAGES FOR THE CEO. THE COMPENSATION COMMITTEE DEVELOPS PACKAGES 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 PACKAGE. APPROPRIATE COMPARABILITY DATA IS OBTAINED FROM AN INDEPENDENT EXPERT (I.E., TOTAL ECONOMIC BENEFITS PAID BY SIMILARLY SITUATED ORGANIZATIONS, BOTH TAXABLE AND TAX-EXEMPT) FOR SIMILAR JOB RESPONSIBILITIES. THE COMPENSATION COMMITTEE APPROVES THE COMPENSATION ANNUALLY. 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 THE 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 CONCERNING CONSIDERATION OF THE TRANSACTION BY ANYONE WHO IS OTHERWISE A MEMBER OF THE AUTHORIZED BODY BUT WHO HAD A CONFLICT OF INTEREST CONCERNING THE TRANSACTION ARE ALSO DOCUMENTED IN MINUTES WHICH ARE APPROVED AT THE NEXT COMMITTEE MEETING. OTHER OFFICER COMPENSATION DETERMINATION POLICY THE FOUNDATION FOLLOWS THE SAME PROCESS FOR DETERMINING COMPENSATION PACKAGES FOR OTHER OFFICERS AND KEY EMPLOYEES AS IT DOES FOR THE CEO. |
| FORM 990, PART VI, SECTION C, LINE 19 | DOCUMENTS AVAILABLE TO THE PUBLIC 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 BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP) AVAILABLE UPON REQUEST. |
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