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      <Desc>THE FOUNDATION HAS ESTABLISHED AN EDUCATIONAL SCHOLARSHIPPROGRAM FOR INDIVIDUALS PROVIDING SERVICES AS CADDIES AT CAVESVALLEY GOLF CLUB (CLUB) AND AT OTHER BALTIMORE METROPOLITAN AREAGOLF CLUBS. THE PURPOSE OF THE PROGRAM IS TO OFFER INDIVIDUALSPROVIDING SERVICES AS CADDIES THE OPPORTUNITY TO ACHIEVE THEIRHIGHER EDUCATION GOALS. THE PROGRAM AWARDS SCHOLARSHIPS BASEDON A SELECTIVE APPLICATION AND APPROVAL PROCESS. THE SCHOLARSHIPSPROVIDE FINANCIAL TUITION ASSISTANCE AND ARE RENEWED ANNUALLY, UPTO A MAXIMUM OF THREE (3) YEARS, PROVIDED ELIGIBILITY REQUIREMENTSCONTINUE TO BE MET.THE FOUNDATION ALSO OFFERS SCHOLARSHIPS (UMES SCHOLARSHIPS) WITHTHE UNIVERSITY OF MARYLAND EASTERN SHORE (UMES) TO ASSIST UMES TO RECRUIT AND RETAIN THE HIGHEST CALIBER STUDENTS FOR ENROLLMENT INUMES' PGA GOLF MANAGEMENT PROGRAM. THE UMES SCHOLARSHIPPROVIDES FINANCIAL ASSISTANCE COVERING THE COSTS OF TUITION, ROOMAND BOARD, BOOKS AND A LAPTOP DURING THE DURATION OF THE STUDENT'SPARTICIPATION IN THE PROGRAM, CONTINGENT UPON ELIGIBILITYREQUIREMENTS CONTINUING TO BE MET.</Desc>
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        <Desc>DURING 2013 THE FOUNDATION COMMITTED TO DONATE $500,000 TO THEFIRST TEE OF BALTIMORE OF WHICH $250,000 WAS TO BE USED FOR CAPITALIMPROVEMENTS AT THE FOREST PARK GOLF CLUB, CONTINGENT ON THE FIRSTTEE OF BALTIMORE RAISING AN EQUAL AMOUNT TO MATCH THE GRANTPROVIDED BY THE FOUNDATION. THIS COMMITMENT WAS EXTENDED ANDPAID AS OF DECEMBER 31, 2015.THE REMAINING COMMITTED DONATION OF $250,000 IS TO BE PAID IN$50,000 INCREMENTS OVER FIVE (5) YEARS AND COMMENCED IN 2015.THE DONATION IS FOR OPERATING SUPPORT, CONTINGENT UPON THE FIRST TEE OF BALTIMORE OBTAINING A MATCHING AMOUNT IN DONATIONS. DURING THE YEAR-ENDED DECEMBER 31, 2019, THE FOUNDATION PAID THE FINAL $50,000 INSTALLMENT OF THIS COMMITMENT.</Desc>
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</Return>