Finchem Received $5.3M In Compensation In '08, Up From $4.76M

Finchem Saw $500,000+ Pay Increase In '08

PGA Tour Commissioner Tim Finchem took home $5.3M in '08, up from $4.76M the previous year and "roughly flat with what he received" in '06, according to IRS forms cited by Jon Show of SPORTSBUSINESS JOURNAL. Finchem's base salary "remained constant at $1.3[M], meaning the fluctuation is due to performance bonuses." The Tour's "second-highest compensated executives in 2008 were co-COOs Charlie Zink and Ed Moorhouse, who each made about" $1.7M. In total, the 538 PGA Tour full- and part-time employees in '08 received $78.8M in salaries, other compensation and benefits, up from the $74.4M that 551 full- and part-time employees received in '07. Show notes the PGA Tour is required to file the IRS forms "because it is a tax-exempt, non profit organization." The IRS "expanded nonprofit reporting in 2008 to include more comprehensive reporting of executive compensation, which resulted in seven more PGA Tour employees appearing on the new Form 990" (SPORTSBUSINESS JOURNAL, 11/23 issue).