The PGA of America recorded over $172 million in total revenue for the year ending March 31, 2024, reflecting a 33% increase from the previous year, according to the association’s latest tax return.
The year’s revenue, driven heavily by tournament income, marks the second-highest total since at least 2010, trailing only the 2021-22, which included the US-hosted Ryder Cup at Whistling Straits.
Investment income rose by $15 million to $20.5 million, while program service revenue, which includes tournament revenue, surged to $149 million. Nearly $134 million came directly from tournament operations, thanks partly to the 2023 Ryder Cup in Rome.
The PGA’s total assets grew to nearly $451 million by year’s end, up from $407 million. Expenses also increased to nearly $185 million, up 25% largely due to the costs associated with hosting the Ryder Cup overseas.
NBC Universal topped the list of independent contractors, earning $2.6 million for broadcast coverage.
Former CEO Seth Waugh’s total compensation exceeded $3.8 million, up from $3.2 million the previous year, while Chief Championships Officer Kerry Haigh was the second highest-paid employee with $1.2 million in total compensation.
