Masters Foundation Shares Rise On First Year Earnings Report!
/Bloomberg's Michael Buteau has looked at the returns and reveals that $6.8 million was brought in by the Masters Tournament Foundation during 2011, its first year of establishment as a grow-the-global-game initiative by Augusta National Golf Club.
Stanley Druckenmiller was the leading donor among members at $100,000.
The first tax records filed for the foundation show 58 people or organizations donated to the private foundation, which in turn gave $1.7 million to eight golf groups, including $1 million to the World Golf Foundation.
“That’s a lot of checks,” Andrew Morton, a Chicago-based philanthropy attorney and chairman of the Sports & Entertainment Law Group at Handler Thayer LLP, said in a telephone interview. “Let’s face it, members of Augusta have a fairly well-known allegiance to the club, so it’s not surprising that they would have that broad base of support, but it’s still impressive. It will be interesting to see what happens in Year 2. I would suspect that they will attract even more donors.”