One of those big-time organizations that cloaks its riches with the old 501-C-3 “not-for-profit” scam is none other than the United States Golf Association.
Yes, by government and IRS code, it’s “not-for-profit” but man, does the USGA make money in a big way.
This totally fake, “not-for-profit” had $214 million in 2017 revenues according to its tax return. After selling its soul to the devil, aka Fox Sports, the USGA is raking in $93 million a year from the devil.
Which brings us to the latest devilish move by the good old USGA.
The Robber-Barons of Far Hills confirmed on Wednesday that 63 of its employees, roughly 15 percent of its workforce, were offered “voluntary retirement incentive” plans. That plan was offered to the old folks — employees who were part of the association’s benefit plan which closed to new participants in 2008 and who were 55 or older.
The USGA had some underling type up this statement:
“As the USGA continues to evolve its organizational structure in an effort to drive greater impact and sustain a strong financial future, we have offered a voluntary retirement incentive plan to a segment of our staff. It provides eligible employees with enhanced pension and retiree health benefits, with no obligation to participate.”
The old folks had until Tuesday to take it or leave it and 50 took it.
So once again, throw the USGA into The Dog House. The Robber Barons can hopefully provide the dogs with new furnishings, plenty of chew toys and treats galore. Besides, it’s a write-off.