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SBD/January 23, 2014/Leagues and Governing Bodies
PGA Tour Hits $2B Milestone In All-Time Charitable Giving, Exceeded $133M In '13
Published January 23, 2014
MISSING THE POINT? GOLF DIGEST's Geoff Shackelford noted an ESPN "Outside The Lines" report recently "took issue" with more than $200M in "federal tax breaks the PGA Tour has received over the last 20 years." Finchem, speaking to the media yesterday before the Farmers Insurance Open, "called the report 'confusing' and explained where ESPN misfired." Finchem said, "If you're an organization, you file and you become a (c)(3) and you're going to raise money for cancer research and you go out and solicit money and an inordinate amount of your money goes to pay the cost of your operations, you're not going to be too successful with givers, and that's the way it should be." He added, "To equate that to a major sporting event where there's a partnership that comes together and says let's work together for the benefit of the community, we're going to put on this tournament, it costs a lot of money, but there's significant upside to the community in generating money for charity, that's a whole different kettle of fish" (GOLFDIGEST.com, 1/22).