"The tournaments on our Tours have vividly demonstrated that giving back is the heart of the PGA TOUR"

Tim Finchem announced $123 million in in contributions, up from $114 mill. Maybe we could spend a little on getting him a better press release quote maker-upper? Then again, he is giving nearly all of the credit to the people who do the hard work, which is admirable.

“Once again this year, the tournaments on our Tours have vividly demonstrated that giving back is the heart of the PGA TOUR,” Finchem said. “This tremendous accomplishment underscores the vital roles that our tournaments play in their communities.  Our players, sponsors, tournament organizations, and volunteers and fans can all take pride in their role in ensuring that ours is a sport that leaves each of our communities better off for the presence of one of our events.

“The important thing about this effort is that it helps people,” Finchem said.  “We also take note of the total impact, and when we surpassed the $1 billion mark in all-time charitable giving in 2005, we noted that that it had taken 67 years to reach that total and that we could reasonably expect to achieve the second billion in only 10 years. It’s extremely gratifying to find out that we are well ahead of that pace, and now expect to achieve it within only seven or eight years.”

These tallies are most impressive:

Among other significant developments was the new record established by The Presidents Cup, which reached a high mark of $4.2 million in donations from the biennial event.

On the Nationwide Tour, both the Albertsons Boise Open presented by First Health and the BMW Charity Pro-Am generated more than $2 million. Numerous Champions Tour events exceeded previous high levels of charitable giving, led by contributions of approximately $1.3 million from both the Toshiba Classic and the 3M Championship. In total, both the Champions Tour and Nationwide Tour achieved charitable giving records.

Comments

[John Dortmunder]

Ask Finchem for the specific records on The Bay Hill Classic and see how that one stacks up...

JD

[John Dortmunder]

The other thing I'd like to see graphed over time is how does the increase in charitable giving compare to the increase in prize money?

It may compare well,I don't know...

JD

[R.B.]

John,

The PGA Tour's business is very interesting. The Washington Post reported Tim Finchem's salary at 9 million a year, for a non profit this kind of pay pal is unprecedented.

The facinating aspect of the PGA Tour is how they've convinced GUIDESTAR (another non profit that publishes non profit 990 Tax returns) where you will not find any reports covering PGA Tour Tax returns.

After United Way and the Red Cross it is weird that an organization such as this has tens of millions of dollars flowing from so many sources that can't be tracked.

[John Dortmunder]

RB,

You are correct in all respects...it is staggering that they are able to skirt any and all public scrutiny.

I'm trying to figure out how Finchem's situation is any different than that of Dick Grasso at the NYSE? Spitzer took Grasso down on exactly the outsized pay issue that you mention here.

All it will take is one prominent PGA Tour player who is pissed and has the ear of an aggressive state DA to get the ball rolling on this thing.

Let's hope that happens soon!

JD