Started By
Message

re: Did Taylor Gooch get fired from the 4 Aces team?

Posted on 2/28/23 at 11:04 am to
Posted by bamameister
Right here, right now
Member since May 2016
15676 posts
Posted on 2/28/23 at 11:04 am to
quote:

How much money has LIV donated to charity? The PGA tour has done more than any other professional league in that regard. I'm not saying the PGA tour was perfect, far from it, but in a eye test against the shark and the Saudi's they are definitely the lesser of two evils.


Nonsense. The players have known for decades that the PGA was not sharing billions of dollars in profits and they were not all going to charities. All of a sudden, due to the mass exodus of players leaving for LIV, they almost double the prize money and shorten the season overnight.

And who owns a billion-dollar pro-sports business these days and doesn't have to pay one red cent to the federal government? Under those circumstances, paying off a few charities is the least the PGA could do.

There have been many an article that has been written about how much money the PGA actually gives to these charities compared to the money they are racking in. For example:

"The short answer is that the bulk of the PGA Tour’s money does not appear to be going to charity, despite the fact that the organization promotes its charitable giving as “a centerpiece of its golf events, tournament telecasts, and website,” as CNN points out in an article exploring the PGA Tour’s giving.

"Instead, the PGA Tour has been spending the lion’s share of its money on things like lobbying, executive compensation, administrative costs, and promotion of the PGA Tour and its events between 2014 and 2018, according to a review of the most recent, publicly available tax filings by the organization."


This is despite the fact that the PGA Tour claims to be committed to “generating substantial charitable contributions in the communities where its tours are played.” In fact, most of the PGA Tour’s charitable contributions are actually raised and dispersed by local non-profit organizations that help oversee and manage individual tournaments that the PGA Tour sponsors.

For example, the Thunderbirds Charities is a non-profit organization formed in 1986 for the express purpose of raising and distributing funds via a tournament called the Waste Management Phoenix Open. The group raised $4 million for charity in 2021. But aside from providing a platform for fundraising, the Tour itself has almost nothing to do with the tournaments’ charitable efforts.

The Tour only made direct charitable contributions of $42.7 million in 2018, which is a paltry 3% of their $1.47 billion in revenue. While the Tour publicly takes credit for $190 million in charity, that inflated number reflects the total given by the tour and the local non-profits that put on the tournaments.

A 2013 ESPN investigation into the Tour’s charitable giving and tax-exempt status found that the local non-profits charged by the Tour to do the actual fundraising weren’t living up to their missions either. It found that those local organizations typically gave an average of 16% of their tournament revenues to local charities, with the rest going to prizes and promotional costs. ESPN even found that the Thunderbirds paid over $650,000 of the money raised back to Waste Management – the tournament sponsor – for trash removal at the event.

Meanwhile, PGA Tour executives are being handsomely compensated. According to the most recent compensation figures that all nonprofits must disclose, PGA Tour commissioner Jay Monahan collected $7.4 million in compensation in 2018. Monahan earned more than all but four of his own players that year.

The Tour also had enough left over to pay outgoing chief operating officer Ed Moorhouse another $7.4 million when he retired that year while shelling out $817,000 to former commissioner Tim Finchem (even though Finchem retired from the PGA Tour in 2016).

LINK #!





Posted by lsufball19
Franklin, TN
Member since Sep 2008
65976 posts
Posted on 2/28/23 at 12:06 pm to
quote:

It found that those local organizations typically gave an average of 16% of their tournament revenues to local charities, with the rest going to prizes and promotional costs. ESPN even found that the Thunderbirds paid over $650,000 of the money raised back to Waste Management – the tournament sponsor – for trash removal at the event.

It's almost like puting on a 4 day sporting event is expensive. 16% doesn't sound like a small number to me. I'd like to see a breakdown of their expenses before coming to the conclusion that giving 16% if their revenue was a paltry number. And given what we've seen from the WMO, $650k doesn't sound like a small number. I've seen normal people pay several grand on dumpster filling/collecting fees for a residence. Now do the math for a golf tournament with a couple hundred thousand spectators over 4 days.

quote:

Meanwhile, PGA Tour executives are being handsomely compensated. According to the most recent compensation figures that all nonprofits must disclose, PGA Tour commissioner Jay Monahan collected $7.4 million in compensation in 2018. Monahan earned more than all but four of his own players that year.

Might want to look into how much commissioners and execs in other sports leagues are making. Monahan makes less than basically all of them. That's about 10% of what Roger Goodell makes, for instance. And Goodell makes more than every single player in the NFL to the tune of 64 million/year. The head of a multi-billion dollar enterprise making 7 million/year shouldn't be surprising to anyone
quote:

The Tour also had enough left over to pay outgoing chief operating officer Ed Moorhouse another $7.4 million when he retired that year while shelling out $817,000 to former commissioner Tim Finchem (even though Finchem retired from the PGA Tour in 2016).

Moorehouse worked for the PGA Tour for over 30 years. I'm assuming he earned some sort of retirement package like most people have with their employers. Those packages are going to be bigger for those who earn more money

That entire post covers revenues but doesn't even address actual expenses. That's a pretty significant omission if we are to develop opinions on the matter
This post was edited on 2/28/23 at 12:19 pm
Posted by MikeD
Baton Rouge
Member since Jan 2004
7468 posts
Posted on 3/2/23 at 10:27 pm to
quote:

. All of a sudden, due to the mass exodus of players leaving for LIV, they almost double the prize money and shorten the season overnight.


New TV money will do that.
first pageprev pagePage 1 of 1Next pagelast page
refresh

Back to top
logoFollow TigerDroppings for LSU Football News
Follow us on Twitter, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookTwitterInstagram