| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| 25,000 | 0 | 25,000 | 25,000 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| VANGUARD INTL STOCK INDEX | 32,643 | 32,643 |
| VANGUARD STOCK MARKET INCES | 95,000 | 95,000 |
| Category / Item | Cost / Other Basis | Accumulated Depreciation | Book Value | End of Year Fair Market Value |
|---|---|---|---|---|
| PERPETUAL TROPHY | 6,944 | 6,944 | 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 | |
| 2002 CHEVY SILVERADO | 10,797 | 10,797 | 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 | |
| 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 | |
| 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 | |
| 5400 WAYNE ROAD (GOLD PARKING LOT) | 427,621 | 0 | 427,621 | 427,621 |
| GRASSMATS | 24,360 | 24,360 | 0 | |
| GOLD LOT INFRASTRUCTURE WORK | 16,500 | 6,944 | 9,556 | 9,556 |
| 2016 CHEVROLET SUBURBAN | 38,700 | 38,700 | 0 | |
| MINIATURE GOLF COURSE | 5,466 | 5,466 | 0 | |
| VARIOUS (5400 DORCHESTER | 69,957 | 69,957 | 0 | |
| VARIOUS (5412 DORCHESTER) | 8,027 | 8,027 | 0 | |
| CART PATH ADJUSTMENT ON HOLE #13 | 39,236 | 39,236 | 0 | |
| 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 |
| RETAINING WALL 5400 DORCHESTER | 26,630 | 8,877 | 17,753 | 17,753 |
| LANDSCAPING - 5400 DORCHESTER | 7,426 | 2,413 | 5,013 | 5,013 |
| 5400 DORCHESTER | 830,583 | 145,352 | 685,231 | 685,231 |
| 5412 DORCHESTER | 376,038 | 64,240 | 311,798 | 311,798 |
| 5400 DORCHESTER IMPROVEMENTS | 218,169 | 139,992 | 78,177 | 78,177 |
| 5412 DORCESTER IMPROVEMENTS | 68,663 | 44,631 | 24,032 | 24,032 |
| OPERATIONS BUILDING (3211 FOYSYTH DRIVE) | 755,916 | 103,938 | 651,978 | 651,978 |
| SHORT GAME AREA | 1,581,323 | 428,275 | 1,153,048 | 1,153,048 |
| 2022 HYUNDIA PALISADE | 45,634 | 38,789 | 6,845 | 6,845 |
| SHORT GAME AREA IMPROVEMENT TO ASSET 317 | 22,650 | 4,813 | 17,837 | 17,837 |
| SHORT GAME AREA IMPROVEMENT TO ASSET 317 | 33,669 | 6,874 | 26,795 | 26,795 |
| TELEVISIONS FOR HOSPITALITY AREAS | 15,822 | 13,185 | 2,637 | 2,637 |
| (13) ENTRANCE POLE BANNERS | 23,624 | 11,024 | 12,600 | 12,600 |
| 2023 CADILLAC XT6 | 71,419 | 30,948 | 40,471 | 40,471 |
| ROPE STAKES & TRASH CAN RINGS | 23,625 | 6,694 | 16,931 | 16,931 |
| CLUBHOUSE CARPET RUNNERS | 17,800 | 4,450 | 13,350 | 13,350 |
| CARTH PATH IMPROVEMENTS | 19,578 | 1,632 | 17,946 | 17,946 |
| HVAC UNIT 5400 DORCHESTER | 19,141 | 3,190 | 15,951 | 15,951 |
| FIREWALL EQUIPMENT | 7,059 | 706 | 6,353 | 6,353 |
| GOLD LOT INFRASTRUCTURE STONE | 48,730 | 2,030 | 46,700 | 46,700 |
| GOLD LOT INFRASTUCTURE TREES | 21,482 | 179 | 21,303 | 21,303 |
| Item No. | 1 |
|---|---|
| Lender's Name | TRUIST |
| Lender's Title | |
| Relationship to Insider | NONE |
| Original Amount of Loan | 888,250 |
| Balance Due | 556,303 |
| 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. | 2 |
|---|---|
| Lender's Name | TRUIST |
| Lender's Title | |
| Relationship to Insider | NONE |
| Original Amount of Loan | 452,455 |
| Balance Due | 288,298 |
| 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. | 3 |
|---|---|
| Lender's Name | PGA TOUR |
| Lender's Title | |
| Relationship to Insider | NONE |
| Original Amount of Loan | 1,000,000 |
| Balance Due | 0 |
| 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. | 4 |
|---|---|
| Lender's Name | SMALL BUSINESS ADMINISTRATION |
| Lender's Title | |
| Relationship to Insider | NONE |
| Original Amount of Loan | 150,000 |
| Balance Due | 45,085 |
| 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. | 5 |
|---|---|
| Lender's Name | PGA TOUR |
| Lender's Title | |
| Relationship to Insider | NONE |
| Original Amount of Loan | 1,200,000 |
| Balance Due | 400,000 |
| 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 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| TOURNAMENT ACQUISITION COST | 525,134 | 525,134 | 525,134 |
| LESS ACCUMULATED AMORTIZATION | -525,134 | -525,134 | -525,134 |
| INTEREST IN TOURNAMENT DIRECTOR LIFE INSURANCE POLICY | 222,170 | 239,260 | 239,260 |
| OPERATING LEASE RIGHT-OF-USE ASSETS, NET | 156,155 | 101,359 | 101,359 |
| SALES TAX RECEIVABLE | 247,192 | 246,559 | 246,559 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| PURSE, PERSONNEL, AND GENERAL GOLF TOURNAMENT EXPENSES | 8,681,751 | 0 | 8,681,751 | 8,685,755 |
| HOSPITALITY | 3,300,813 | 0 | 3,300,813 | 3,401,689 |
| TOURNAMENT OPERATIONS | 2,960,377 | 0 | 2,960,377 | 2,940,095 |
| MEDIA | 334,383 | 0 | 334,383 | 337,608 |
| COURSE SALES (CLOTHING, CONCESSIONS, TICKETS) | 671,609 | 0 | 671,609 | 672,729 |
| RENT | 430,669 | 0 | 430,669 | 428,169 |
| GENERAL AND ADMINISTRATIVE | 219,334 | 0 | 219,334 | 218,148 |
| OFFICIAL TOURNAMENT PROGRAM EXPENSES | 8,959 | 0 | 8,959 | 0 |
| OFFICIAL DAILY PAIRINGS GUIDE EXPENSES | 25,253 | 0 | 25,253 | 0 |
| LESS WYNDHAM CHAMPIONSHIP INCOME | 0 | 0 | 0 | -17,309,539 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| SPONSOR SALES-PROAM | 1,363,000 | 1,363,000 | |
| HOSPITALITY | 3,922,737 | 3,922,737 | |
| TOURNAMENT ADMISSION | 302,263 | 302,263 | |
| CONCESSIONS, CLOTHING, AND PARKING | 1,136,875 | 1,136,875 | |
| SPONSORSHIP RECOGNITION | 1,065,921 | 1,065,921 | |
| PARTY SPONSORSHIPS | 303,300 | 303,300 | |
| TITLE SPONSOR, PGA REIMBURSEMENT, AND OTHER | 9,215,443 | 9,215,443 | |
| ADVERTISING REVENUE - OFFICIAL TOURNAMENT PROGRAM | 28,326 | 28,326 | |
| ADVERTISING REVENUE - OFFICAL DAILY PAIRINGS GUIDE | 14,571 | 14,571 |
| Description | Beginning of Year - Book Value | End of Year - Book Value |
|---|---|---|
| OPERATING LEASE LIABILITES | 178,518 | 115,590 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| PAYROLL TAXES | 102,124 | 0 | 102,124 | 102,124 |
| US TAXES | 4,158 | 0 | 0 | 0 |