2025-11-17T12:20:26-06:00 2024-12-31 861065772 DELOITTE TAX LLP 1230 PEACHTREE STREET NE SUITE 3100 ATLANTA GA 30309 990 2024-01-19 993712591 MASTERS TOURNAMENT CHARITIES INC MAST 7066676000 PO BOX 2444 AUGUSTA GA 30903 KELLY FLANAGAN CFO 7066676000 2025-11-17 1 0 ANDREW MAUDE P00706613 4042201500 2024 2025-03-06 01:10:19Z X EDWARD WILLIAM JONES JR PO BOX 2444 AUGUSTA GA 30903 77909364 0 X N/A X 2024 GA MASTERS TOURNAMENT CHARITIES, INC. WILL CONTINUE THE PRIMARY MISSION STARTED BY MASTERS TOURNAMENT FOUNDATION, INC. TO SUPPORT THE GAME OF GOLF'S CONTINUOUS GROWTH AROUND THE WORLD, INCLUDING THROUGH EDUCATION AND AMATEUR GOLF COMPETITIONS, AND WILL ALSO SUPPORT AND PURSUE BROADER CHARITABLE PURPOSES INCLUDING COMMUNITY DEVELOPMENT AND SUPPORTING EDUCATION, ESPECIALLY IN ECONOMICALLY DISADVANTAGED POPULATIONS IN THE AUGUSTA COMMUNITY AND THROUGH NEEDS BASED FINANCIAL ASSISTANCE FOR DISASTER RELIEF, HARDSHIPS, FINANCIAL EMERGENCIES, AS WELL AS SCHOLARSHIPS AND FELLOWSHIPS FOR QUALIFIED INDIVIDUALS, INCLUDING CURRENT AND FUTURE AUGUSTA NATIONAL EMPLOYEES AND THEIR FAMILIES. 11 10 0 11 0 0 67019504 9724023 456162 0 77199689 5000 0 927996 0 0 7302891 8235887 68963802 72631985 3879979 68752006 X MASTERS TOURNAMENT CHARITIES, INC. INSPIRED BY THE ENDURING PHILOSOPHIES OF ITS INITIAL MEMBER, THE MASTERS TOURNAMENT FOUNDATION, AND MASTERS TOURNAMENT FOUNDERS BOBBY JONES AND CLIFFORD ROBERTS, IS COMMITTED TO PROMOTING GOLFS DOMESTIC AND INTERNATIONAL DEVELOPMENT THROUGH FINANCIAL INVESTMENT AND ACTIVE PARTICIPATION IN INITIATIVES AIMED AT PRESERVING THE TRADITIONS OF THE GAME AND SHARING ITS MANY VIRTUES. THE INITIAL PRIMARY COMMITMENT OF THE CORPORATION IS TO UTILIZE THE MEDIUM OF GOLF AND OTHER AMATEUR SPORTS COMPETITIONS TO ENHANCE THE LIVES OF YOUTH AND YOUNG ADULTS THROUGH PARTICIPATION AND JOB TRAINING. 0 0 8224855 5000 9724023 THE MASTERS TOURNAMENT CHARITIES, INC. OVERSEES THE MANAGEMENT AND OPERATIONS OF THE AUGUSTA NATIONAL WOMEN'S AMATEUR, LLC "ANWA", WHICH CONDUCTS AN ANNUAL WORLD RENOWNED INTERNATIONAL AMATEUR GOLF TOURNAMENT FOR WOMEN. THE EVENT WAS ESTABLISHED AND IS OPERATED TO INSPIRE GREATER INTEREST AND PARTICIPATION IN THE GAME OF GOLF FOR WOMEN AND SUPPORTS AMATEUR SPORTS COMPETITION. THE MTC PROVIDES FUNDS FOR TRAVEL, EXPENDITURES, ENTRY FEES AND OTHER COSTS ASSOCIATED WITH PARTICIPATION IN THE TOURNAMENT FOR AMATEUR GOLFERS. 0 0 0 THE PATCH PROJECT, LLC (TPP) IS WHOLLY-OWNED BY MTC AND IS ESTABLISHED TO STRENGTHEN THE AVAILABILITY AND QUALITY OF PUBLIC GOLF IN THE COMMUNITY AND FOSTER EVEN GREATER OPPORTUNITIES TO PLAY THE GAME AND WORK IN THE SPORT. THROUGH TPP LLC, MTC PLANS TO HIRE WORLD-RENOWNED GOLF ARCHITECTS AND MAKE SUBSTANTIAL CAPITAL EXPENDITURES TO RENOVATE AND REDESIGN THE AUGUSTA MUNICIPAL GOLF COURSE. ANOTHER SIGNIFICANT CHARITABLE AND EDUCATIONAL PURPOSE OF THE PATCH PROJECT IS TO SUPPORT THE GAME OF GOLF BY ENHANCING THE GOLF COURSE MANAGEMENT PROGRAM OF AUGUSTA TECH. THERE WERE NO EXPENSES FOR TPP IN 2024. 8224855 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 11 10 1 0 0 0 1 1 1 1 1 0 0 1 1 1 1 0 0 1 1 0 GA X X KELLY FLANAGAN 7066676000 PO BOX 2444 AUGUSTA GA 30903 EDWARD WILLIAM JONES JR EXECUTIVE DIRECTOR 1.00 1.00 X X 0 0 0 FRED S RIDLEY CHAIRMAN OF BOARD 1.00 1.00 X X 0 0 0 ROBERT L JOHNSTON DIR, TREASURER, SECRETARY 2.00 2.00 X X 0 0 0 S TAYLOR GLOVER DIRECTOR, PRESIDENT 2.00 2.00 X X 0 0 0 BRIAN L ROBERTS DIRECTOR 1.00 1.00 X 0 0 0 CRAIG L HEATLEY DIRECTOR 1.00 1.00 X 0 0 0 EDWARD D HERLIHY DIRECTOR 1.00 1.00 X 0 0 0 KESSEL D STELLING JR DIRECTOR 1.00 1.00 X 0 0 0 LEE J STYSLINGER III DIRECTOR 1.00 1.00 X 0 0 0 TERENCE F MCGUIRK DIRECTOR 1.00 1.00 X 0 0 0 THOMAS C NELSON DIRECTOR 1.00 1.00 X 0 0 0 W PATRICK BATTLE DIRECTOR 1.00 1.00 X 0 0 0 KELLY FLANAGAN CHIEF FINANCIAL OFFICER 1.00 1.00 X 0 0 0 STEVE ETHUN CHIEF TOURNAMENT OFFICER 1.00 1.00 X 0 0 0 0 0 0 0 0 0 0 NBC UNIVERSAL MEDIA LLC PO BOX 402971 ATLANTA GA 30384 MEDIA 1877000 CHAMPIONS RETREAT ARCIS LLC 37 CHAMPIONS PARKWAY EVANS GA 30809 RECREATIONS 477274 SPORTSMEDIA TECHNOLOGY CORPORATION 3511 UNIVERSITY DRIVE DURHAM NC 27707 MEDIA 355680 IBM CORPORATION 1 NORTH CASTLE DRIVE ARMONK NY 10504 MEDIA 312074 ACKERMAN GREENSTONE NORTH AGUSTA LLC 3301 WINDY RIDGE PARKWAY STE 320 ATLANTA GA 30339 DEVELOPMENT 291618 162 67019504 42448342 67019504 AUGUSTA NATIONAL WOMENS AMATEUR 711210 9724023 9724023 9724023 390684 390684 775153 709675 65478 65478 65478 77199689 9724023 0 456162 X 5000 5000 880549 880549 47447 47447 68138 68138 206528 206528 292501 292501 68312 68312 33801 33801 432 432 221638 221638 690502 690502 2423 2423 TOURNAMENT EXPENSES 3318951 3318951 BROADCASTING & COMMUNIC 1966086 1966086 MEALS & ENTERTAINMENT 284339 284339 ALL OTHER EXPENSES 149240 138208 11032 8235887 8224855 11032 0 0 0 33241635 0 0 0 240920 0 115631 0 130205 10081088 28333937 0 488569 0 72631985 0 1041579 0 2838400 0 3879979 X 57055669 11696337 0 68752006 0 72631985 68963802 -211796 0 X 0 1 X 1 0 X 67019504 67019504 9724023 9724023 76743527 76743527 62019504 62019504 0 62019504 62019504 14724023 390684 390684 390684 390684 77134211 77134211 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 INVESTMENTS 28333937 F 28333937 76987892 -211797 -211797 77199689 0 77199689 8235887 0 8235887 0 8235887 X 1 10085180 COST OR SELLING PRICE X 1 28345437 COST OR SELLING PRICE X CHARITABLE LLC 1 4017724 COST OR SELLING PRIC 0 1 0 PART I, COLUMN (B): THE NUMBERS REPORTED IN COLUMN B REPRESENT THE NUMBER OF CONTRIBUTIONS RECEIVED. FORM 990, PART VI, SECTION A, LINE 2 KELLY FLANAGAN, EDWARD WILLIAM JONES, JR., AND STEVE ETHUN HAVE A BUSINESS RELATIONSHIP WITH FRED S. RIDLEY AS WELL AS ALL DIRECTORS LISTED ON PART VII. FORM 990, PART VI, SECTION A, LINE 6 FOR THE PERIOD COVERED BY THIS FILING, MASTERS TOURNAMENT FOUNDATION, INC. SERVED AS THE SOLE MEMBER OF MASTERS TOURNAMENT CHARITIES, INC. FORM 990, PART VI, SECTION A, LINE 7A MASTERS TOURNAMENT CHARITIES, INC.'S GOVERNING BODY IS COMPRISED OF THE SAME INDIVIDUALS SERVING ON THE MEMBER'S GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B THE BOARD OF DIRECTORS MAY TAKE ACTION BY A VOTE OF A MAJORITY OF THE DIRECTORS PRESENT AT ANY DULY HELD MEETING OF THE BOARD OF DIRECTORS AT WHICH A QUORUM IS PRESENT AND ACTING THROUGHOUT; PROVIDED, HOWEVER, THAT THE FOLLOWING ACTIONS SHALL BE TAKEN BY THE BOARD OF DIRECTORS ONLY UPON THE FAVORABLE VOTE OF AT LEAST TWO-THIRDS OF THE DIRECTORS PRESENT AND ONLY WITH THE APPROVAL OF THE MEMBER: (A) TO CHANGE THE PHILOSOPHY, OBJECTIVES AND PURPOSES OF THE CORPORATION FOR WHICH IT WAS FORMED AND EXISTS. (B) TO AMEND, ALTER, MODIFY OR REPEAL THE ARTICLES OF INCORPORATION OR THESE BYLAWS. (C) TO MERGE, CONSOLIDATE OR AFFILIATE THIS CORPORATION WITH ANOTHER CORPORATION, ORGANIZATION OR PROGRAM. (D) TO DISSOLVE, LIQUIDATE, OR TERMINATE THE EXISTENCE OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B THIS FORM 990 IS PREPARED BY THE MTC TAX DEPARTMENT IN CONJUNCTION WITH DELOITTE TAX, LLP (DELOITTE). AS PART OF THIS PROCESS, THE MTC TAX DEPARTMENT WORKS WITH OTHER DISCIPLINES AND FUNCTIONS WITHIN MTC AND MTF TO ENSURE THAT ALL FINANCIAL AND NON-FINANCIAL DISCLOSURES ARE COMPLETE AND ACCURATE. EXAMPLES OF SUCH DEPARTMENTS INCLUDE BUT ARE NOT LIMITED TO: FINANCE AND ACCOUNTING, HUMAN RESOURCES AND PAYROLL, TREASURY, COMPLIANCE AND LEGAL. MASTERS TOURNAMENT CHARITIES, INC. 'S FORM 990 IS REVIEWED INTERNALLY BY THE MTC CHIEF FINANCE OFFICER AND EXTERNALLY BY DELOITTE. DELOITTE SIGNS THE FINAL RETURN AS PREPARER. A COPY OF THE COMPLETE RETURN IS THEN PROVIDED TO EACH MEMBER OF MASTERS TOURNAMENT CHARITIES, INC. 'S BOARD OF DIRECTORS PRIOR TO SUBMISSION TO THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH BOARD OF DIRECTORS DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. IF THE BOARD OF DIRECTORS OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE BOARD OF DIRECTORS OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15 IN ESTABLISHING COMPENSATION FOR MASTERS TOURNAMENT CHARITIES INC.'S COMPENSATION FOR OFFICERS, DIRECTORS, HIGHEST COMPENSATED EMPLOYEES AND HIGHEST COMPENSATED INDEPENDENT CONTRACTORS, THE CORPORATION SHALL ABIDE BY THE FOLLOWING CONDITIONS: A. ALL INDIVIDUALS THAT APPROVE COMPENSATION ARRANGEMENTS WILL FOLLOW A CONFLICT OF INTEREST POLICY. B. ALL COMPENSATION ARRANGEMENTS SHALL BE APPROVED IN ADVANCE OF PAYING COMPENSATION. C. THE DATE AND ALL TERMS OF APPROVED COMPENSATION ARRANGEMENTS WILL BE DOCUMENTED IN WRITING. D. THE DECISION MADE BY EACH DIRECTOR (INDIVIDUAL), AND THEIR RESPECTIVE VOTE, IF ANY, CONCERNING ALL COMPENSATION ARRANGEMENTS SHALL BE RECORDED IN WRITING. E. THE DIRECTORS WILL APPROVE ALL COMPENSATION ARRANGEMENTS BASED UPON INFORMATION ABOUT COMPENSATION PAID BY SIMILARLY SITUATED TAXABLE OR TAX-EXEMPT ORGANIZATIONS FOR SIMILAR SERVICES, CURRENT COMPENSATION SURVEYS COMPILED BY INDEPENDENT FIRMS AND/OR ACTUAL WRITTEN OFFERS FROM SIMILARLY SITUATED ORGANIZATIONS. F. ALL INFORMATION, AND ITS SOURCE, WHICH THE DIRECTORS RELY UPON TO BASE DECISIONS CONCERNING ANY AND ALL COMPENSATION ARRANGEMENTS SHALL BE RECORDED IN WRITING. MASTER'S TOURNAMENT CHARITIES INC. NOTES THAT THERE WAS NO COMPENSATION FOR ITS OFFICERS, DIRECTORS, HIGHEST COMPENSATED EMPLOYEES AND HIGHEST COMPENSATED INDEPENDENT CONTRACTORS FOR THE TAX YEAR ENDED DECEMBER 31, 2024. FORM 990, PART VI, SECTION C, LINE 18 MASTERS TOURNAMENT CHARITIES, INC. MAKES ITS FORM 1023, 990, AND 990T AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. FORM 990 AND 990-T, IF APPLICABLE, ARE PROVIDED VIA THE IRS WEBSITE. FORM 990, PART VI, SECTION C, LINE 19 MASTERS TOURNAMENT CHARITIES, INC.'S GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 13: THE ORGANIZATION ANSWERED "NO" TO THE QUESTION REGARDING WHETHER IT HAD A WRITTEN WHISTLEBLOWER POLICY. AS THE FIRST YEAR OF THE CHARITY'S EXISTENCE, THE ORGANIZATION IS IN THE PROCESS OF ADOPTING SUCH. FORM 990, PART VI, SECTION B, LINE 14: THE ORGANIZATION ANSWERED "NO" TO THE QUESTION REGARDING WHETHER IT HAD A WRITTEN DOCUMENT RETENTION AND DESTRUCTION POLICY. AS THE FIRST YEAR OF THE CHARITY'S EXISTENCE, THE ORGANIZATION IS IN THE PROCESS OF ADOPTING SUCH. FORM 990, PART IX: MASTERS TOURNAMENT CHARITIES, INC. DID NOT ENGAGE IN ANY FUNDRAISING EFFORTS FOR THE TAX YEAR ENDED DECEMBER 31, 2024. ALL ACTIVITIES LISTED ON THE STATEMENT OF FUNCTIONAL EXPENSES ARE ASSOCIATED WITH THE START UP OF THE CHARITY. AUGUSTA NATIONAL WOMENS AMATEUR LLC PO BOX 2444 AUGUSTA GA 30903 993712591 FOSTERING THE SPORT OF GOLF GA 9837432 9447542 MASTERS TOURNAMENT CHARITIES INC THE PATCH PROJECT LLC PO BOX 2444 AUGUSTA GA 30903 993712591 FOSTERING THE SPORT OF GOLF GA 0 0 MASTERS TOURNAMENT CHARITIES INC MASTERS TOURNAMENT FOUNDATION INC PO BOX 2444 AUGUSTA GA 30903 274452110 FOSTERING THE SPORT OF GOLF GA 501(C)(3) PF AUGUSTA NATIONAL INC 0 AUGUSTA NATIONAL INC 2604 WASHINGTON ROAD AUGUSTA GA 30904 580148990 OPERATIONS OF GOLF FACILITY GA C 0 JUNIPER INVESTMENTS LLC 2604 WASHINGTON ROAD AUGUSTA GA 30904 371906651 INVESTMENT COMPANY GA AUGUSTA NATIONAL INC C 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 MASTERS TOURNAMENT FOUNDATION INC C 62019503 FMV SCHEDULE R PART V, QUESTION 2 ON JANUARY 19, 2024, AND IN CONJUNCTION WITH THE FORMATION OF MTC, THE MTF GRANTED ITS MEMBERSHIP INTEREST IN AUGUSTA NATIONAL WOMEN'S AMATEUR, LLC (ANWA) TO MTC. ANWA IS A SINGLE- MEMBER LLC, THE PRIMARY PURPOSES OF WHICH IS TO CONDUCT AN AMATEUR GOLF EVENT AIMED AT STIMULATING GROWTH AND INSPIRING GREATER INTEREST IN WOMEN'S GOLF. MTC RECORDED CASH AND NONCASH ITEMS OF ANWA AT THEIR RESPECTIVE CARRYING VALUES ON THE DATE OF TRANSFER TOTALING TO $4,017,724. ON DECEMBER 19. 2024, MTF GRANTED MTC $58,001,779, INCLUSIVE OF $38,430,617 IN INVESTMENTS AND $19,571,162 OF CASH AND CASH EQUIVALENTS AT THEIR RESPECTIVE CARRYING VALUES ON THE DATE OF THE TRANSFER. THE GRANT FROM MTF IS CONSIDERED TO BE AN EQUITY TRANSFER.