Christmas For Golf Geeks! New USGA Form 990s Are Posted!

At 142 pages it's a long one, but the PDF posted by Guidestar and sent in by a mystery reader outraged at the salaries reveals plenty of cash on hand for the non-profit. Plenty.

First off, congrats to the first millionaire in USGA history, Mike Butz! Granted, it's just SVP money in Ponte Vedra, but still admirable for an organization that only nets a profit one week a year.

And another congrats to Executive Director Mike Davis for already making David Fay money in just year two on the job. Again, not even Co-SVP money in Ponte Vedra but the PVGC dues check should clear.

Now, I don't know a lot about hedge funds but I do know that Warren Buffett put his money where his mouth is to prove they aren't the greatest investment tool unless you are the one charging outlandish fees, but it is enlightening to see the USGA's rainy day fund at $299,671,833 is comprised of $80,296,213 in hedge funds or alternative investments, up from $34.5 million in 2009. Naturally, the forms seem unclear on who is doing the investment work.

More than anything, it's a relief to know that Fox Sports television contract money is coming in 2014 to bring in another $50 million a year. That way the USGA can get the rainy day fund to $500,000,000 million by the time the 501C3 non-profit status is tossed and the long-awaited IPO hits.

I look forward to your analysis! Post away...