Executive Compensation at PGA Tour, Inc (2022)

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, 3 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 2022, the PGA Tour, Inc reported total revenue of $1.9 billion (compared to $1.6 billion in 2021), most of which came from media rights ($763 million), sponsorship ($397 million), royalties ($344 million), and tournament management  ($229 million)

Expenses totaled $1.9 billion with the three largest expenses reported to be fees (primarily player prize and other benefits of $786 million), tv production and broadcasting ($284 million) and compensation ($218 million).

1,162 employees received $218 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:

• $29,420,341:  Rory McIlroy, Player Director
• $18,620,857:  Joseph W Monahan, Commissioner*
• $ 6,769,453:  Jeanne Lightcap, EVP, Finance*
• $ 4,622,701:  Kevin Kisner, Player Director
• $ 4,520,715:  Kenneth J Sharkey, EVP and CFO*
• $ 3,725,738:  Ronald E Price, COO*
• $ 3,340,005:  Ty M Votaw, EVP International*
• $ 2,567,221:  Allison W Keller, Chief Administrative Officer*
• $ 2,496,414:  Richard D Anderson, Chief Media Officer*
• $ 1,898,052:  James A Padzer, Chief Tournament and Competitions Officer*
• $ 1,657,949:  Leland T Dennis, EVP and President PGA Tour*
• $ 1,597,465:  Leonard Brown, Chief Legal Officer*
• $ 1,509,035:  Brian M Oliver, EVP Marketing and Corp Partners*
• $ 1,341,219:  James Hahn, Player Director, Treasurer
• $ 1,185,031:  Jay Madara, EVP and CFO (as of 7/1)
• $ 1,124,295:  Ross A Berlin, SVP, Player Relations
• $ 1,091,710:  R0bert K Ohno, SVP, International Tours
• $   994,612:  Charley Hoffman, Player Director, Secretary
• $   930,952: Matthew Rapp, SVP Championship Management
• $   906,542:  Daniel T Glod, Jr, SVP, Player Partnerships
• $   857,870:  Laura Neal, EVP, Media Content and Communications
• $   746,636:  Alexandra C Baldwin, President, Korn Ferry Tour
• $   733,056:  Jack M Brady, Jr, President, PGA Tour Champions
• $   400,000:  Thomas E Wade, Former Commissioner

The 24 most highly compensated employees received $93 million in compensation in 2022.  12 of the most highly compensated employees received $249 million from 2017-2022:

RORY MCILROY:  TOTAL COMPENSATION:  $29 million

• 2022:  $29,420,241

JOSEPH MONAHAN:  TOTAL COMPENSATION 2017-2022:  $71 million

• 2022: $18,620,857
• 2021:  $13,906,082
• 2020:  $14,198,297
• 2019:  $ 8,880,807
• 2018:  $ 7,443,295
• 2017:  $ 7,569,988

JEANNE LIGHTCAP:  TOTAL COMPENSATION:  2017-2022:  $13 million 

• 2022: $ 6,769,453
• 2021:  $1,483,811
• 2020:  $1,731,783
• 2019:  $1,039,001
• 2018:  $1,200,624
• 2017:  $1,082,487

RONALD PRICE:  TOTAL COMPENSATION 2017-2022:  $36 million

• 2022: $ 3,725,738
• 2021:  $9,288,216
• 2020:  $8,709,745
• 2019:  $5,684,885
• 2018:  $4,288,481
• 2017:  $3,512,540

KENNETH SHARKEY:  TOTAL COMPENSATION 2017-2022:  $16 million

• 2022: $4,520,715
• 2021:  $3,446,640
• 2020:  $2,804,248
• 2019:  $1,808,740
• 2018:  $1,698,358
• 2017:  $1,069,678

RICHARD ANDERSON:  TOTAL COMPENSATION 2017-2022:  $17 million

• 2022: $ 2,496,414
• 2021:  $3,111,938
• 2020:  $4,399,495
• 2019:  $2,340,427
• 2018:  $2,392,183
• 2017:  $1,974,849

ALLISON KELLER:  TOTAL COMPENSATION 2017-2022:  $15 million

• 2022:  $2,567,221
• 2021:  $2,941,281
• 2020:  $3,187,784
• 2019:  $1,998,691
• 2018:  $1,818,222
• 2017:  $2,125,817

KEVIN KISNER:  TOTAL COMPENSATION 2020-2022:  $11 million

• 2022:  $4,622,701
• 2021:  $2,444,457
• 2020:  $3,552,264

JAMES PADZER:  TOTAL COMPENSATION 2017-2022:  $13 million

• 2022:  $1,898,052
• 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:  $14 million

• 2022: $3,340,005
• 2021:  $2,339,636
• 2020:  $2,629,044
• 2019:  $1,683,574
• 2018:  $1,762,506
• 2017:  $1,933,506

LELAND DENNIS:  TOTAL COMPENSATION 2020-2022:  $4 million

• 2022: $1,657,949
• 2021:  $1,004,928
• 2020:  $  964,295

LEONARD BROWN:  TOTAL COMPENSATION 2017-2022:  $10 million

• 2022: $1,597,465
• 2021:  $2,066,797
• 2020:  $1,972,788
• 2019::  $2,117,889
• 2018:  $1,259,227
• 2017:  $1,292,277

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.

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

• $28 million:  Rory McIlroy Enterprises, of Ponte Vedra Beach, FL for tournament earnings
• $27 million:  Media Services Payroll, of Burbank, CA for special payroll services
• $20 million:  Scotty Scheffer, of Ponte Vedra Beach, FL for tournament earnings
• $13 million:  PSC Golf, of Ponte Vedra Beach, FL for tournament earnings
• $13 million:  Salem Sports Events, of Winton Salem, NC for construction services

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 (2022), click here.