Executive Compensation at the PGA Tour (2021)

The PGA Tour, Inc. is a tax-exempt, non-profit 501 (c) 6 – a membership organization for touring professional golfers – up to a maximum of 156 who participate in 47 events (44 regular events and 3 playoff events). The exact number of members is difficult to determine since there are various exemptions and player status (the top 125 ranked players have their card renewed annually but players ranked between 126-150 can retain their card and play when other golfers are not playing, and winning certain tournaments also guarantees a tour card).

There are 40 related organizations taxed as a corporation or trust, 4 related organizations taxed as a partnership, and 4 related tax-exempt organizations (see the Form 990, Schedule R for details).

The PGA Tour, Inc is overseen by 10 voting members of the governing body, 6 of whom are independent, and 9 of whom are male and 1 female.

In 2021, the PGA Tour, Inc reported total revenue of $1.6 billion, most of which came from media rights ($583 million), sponsorship ($352 million), royalties ($240 million) and investment income and gains ($204 million).

Expenses totaled $1.6 billion with the three largest expenses reported to be fees (primarily player prize and other benefits), tv production and broadcasting ($276 million) and compensation ($181 million).

1,040 employees received $181 million, or an average of $174,000.  However, only 340 employees received more than $100,000 in compensation with the 24 most highly compensated reported to be:

• $13,906,082:  Joseph W Monahan, Commissioner
• $ 9,288,216:  Ronald E Price, COO
• $ 7,870,843:  Jordan Spieth, Player Director
• $ 3,446,640:  Kenneth J Sharkey, EVP and CFO
• $ 3,111,938:  Richard D Anderson, Chief Media Officer
• $ 3,032,300:  Charley Hoffman, Player Director, Secretary
• $ 2,941,281:  Allison W Keller, Chief Administrative Officer
• $ 2,444,457:  Kevin Kisner, Player Director
• $ 2,417,198:  James A Padzer, Chief Tournament and Competitions Officer
• $ 2,339,636:  Ty M Votaw, EVP International
• $ 2,066,797:  Leonard Brown, Chief Legal Officer
• $ 2,053,693:  Brian M Oliver, EVP Marketing and Corp Partners
• $ 1,483,811:  Jeanne Lightcap, EVP, Finance
• $ 1,401,313:  Ross A Berlin, SVP, Player Relations
• $ 1,261,591:  Stephen D Evans, Former SVP, Golf Technologies
• $ 1,044,007:  James Hahn, Player Director, Treasurer
• $ 1,030,589:  R0bert K Ohno, SVP, International Tours
• $ 1,023,795:  Daniel T Glod, Jr, SVP, Player Partnerships
• $ 1,004,928:  Leland T Dennis, EVP and President PGA Tour
• $  905,446:  Laura N Schroder, EVP, Media Content and Communications
• $  855,524:  Jack M Brady, Jr, President, PGA Tour Champions
• $  815,947:  Timothy W Finchem, Former Commissioner
• $  698,800:  Alexandra C Baldwin, President, Korn Ferry Tour
• $  366,667:  Thomas E Wade, Former Commissioner

The 24 most highly compensated employees received $67 million in compensation in 2021.  10 of the most highly compensated employees received $170 million from 2017-2021:

JOSEPH MONAHAN:  TOTAL COMPENSATION 2017-2021:  $52 million

• 2021:  $13,906,082
• 2020:  $14,198,297
• 2019:  $ 8,880,807
• 2018:  $ 7,443,295
• 2017:  $ 7,569,988

RONALD PRICE:  TOTAL COMPENSATION 2017-2021:  $32 million

• 2021:  $9,288,216
• 2020:  $8,709,745
• 2019:  $5,684,885
• 2018:  $4,288,481
• 2017:  $3,512,540

JORDAN SPIETH:  TOTAL COMPENSATION 2019-2021:  $11 million

• 2021:  $7,870,843
• 2020:  $1,090,,896
• 2019:  $2,137,318

KENNETH SHARKEY:  TOTAL COMPENSATION 2017-2021:  $11 million

• 2021:  $3,446,640
• 2020:  $2,804,248
• 2019:  $1,808,740
• 2018:  $1,698,358
• 2017:  $1,069,678

RICHARD ANDERSON:  TOTAL COMPENSATION 2017-2021:  $14 million

• 2021:  $3,111,938
• 2020:  $4,399,495
• 2019:  $2,340,427
• 2018:  $2,392,183
• 2017:  $1,974,849

CHARLEY HOFFMAN:  TOTAL COMPENSATION 2017-2021:  $11 million

• 2021:  $3,032,300
• 2020:  None Listed
• 2019:  $1,662,071
• 2018:  $1,376,291
• 2017:  $4,764,144

ALLISON KELLER:  TOTAL COMPENSATION 2017-2021:  $12 million

• 2021:  $2,941,281
• 2020:  $3,187,784
• 2019:  $1,998,691
• 2018:  $1,818,222
• 2017:  $2,125,817

KEVIN KISNER:  TOTAL COMPENSATION 2020-2021:  $6 million

• 2021:  $2,444,457
• 2020:  $3,552,264

JAMES PADZER:  TOTAL COMPENSATION 2017-2021:  $11 million

• 2021:  $2,417,198
• 2020:  $2,730,772
• 2019:  $1,965,713
• 2018:  $2,117,872
• 2017:  $1,761,433

TY M VOTAW:  TOTAL COMPENSATION 2017-2021:  $10 million

• 2021:  $2,339,636
• 2020:  $2,629,044
• 2019:  $1,683,574
• 2018:  $1,762,506
• 2017:  $1,933,506

The PGA Tour, Inc. paid for first class or charter travel, companion travel, health or social club dues or initiation fees, and provided tax indemnification or gross up payments. See the Form 990, Schedule J, Part III, Supplemental Information for more details.  Information on supplemental non qualified retirement plans can also be viewed on Schedule J.

487 independent contractors received more than $100,000 in compensation with the 5 most highly compensated listed below:

• $20.7 million:  PGA Golf, Inc., of Ponte Vedra Beach, FL for tournament earnings
• $12.8 million:  Media Services Payroll, of Burbank, CA for special payroll services
• $ 9.5 million:  CMM, LLC, of Ponte Vedra Beach FL for tournament earnings
• $ 9.2 million:  Arena Aztec Shaffer, of Houston, TX for construction services
• $ 7.9 million:  Justin Thomas, of Ponte Vedra Beach, FL for tournament earnings

It is important to note that 3 of the organizations listed above are at the same address as the PGA Tour, Inc.

Finally, it is important to note the PGA Tour, Inc. has $1.3 billion in net assets.

To read the IRS Form 990 of the PGA Tour, Inc (2021), click here.