PGA Tour Estimates Charity Giving Will Be Down 1014 2009: Guess Id

PGA Tour estimates charity giving will be down 1014

“If I had to guess right now, I’d say we wouldn’t be off more than 10 to 14% with our charitable, which I think
would be a victory,” commissioner Tim Finchem said Wednesday. “If that were the case, I would feel real good about it. It’s still to early to tell.” PGA Tour events are structured as nonprofit organizations that donate proceeds to local charities. Finchem said the tour last year raised $124 million for charity, and his estimate means the tour is on pace to give $12 million to $17 million less in 2009. Still, Finchem was optimistic that the tour will weather the meltdown in good financial shape. “We continue to be optimistic,” Finchem said. “We think this is cyclical, and we’re taking steps that allow us to be stronger coming out than when we went in.” Finchem had a dual purpose for his visit to the nation’s capital. He and Presidents Cup captains Fred Couples and Greg Norman spent the morning on Capitol Hill doing a bit of lobbying on behalf of their sport, then headed to the National Press Club to promote the U.S.-vs.-International team event that will be held at San Francisco’s Harding Park course in October. “The basic message is reminding members (of Congress) that golf is an industry of $75 billion, $76 billion,” Finchem said. Finchem cited a recent flap over whether it was appropriate for a company to use federal bailout money to entertain clients at a golf event. Although the issue has died down, Finchem wanted to be proactive in case it flares up again.
Finchem compared golf hospitality to other forms of entertainment used to generate business with clients.

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