Texas, United States: The PGA of America recorded over US$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 period, which included the US-hosted Ryder Cup at Whistling Straits. 

Investment income rose by US$15 million to US$20.5 million, while programme service revenue, which includes tournament revenue, surged to US$149 million.

Nearly US$134 million came directly from tournament operations, thanks partly to the 2023 Ryder Cup in Rome.

The PGA’s total assets grew to nearly US$451 million by year’s end, up from US$407 million. Expenses also increased to nearly US$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 US$2.6 million for broadcast coverage. 

Former CEO Seth Waugh’s total compensation exceeded US$3.8 million, up from US$3.2 million the previous year, while Chief Championships Officer Kerry Haigh was the second highest-paid employee with US$1.2 million in total compensation.

*The PGA of America is an Executive Member of the Asian Golf Industry Federation.