Nonprofit · EIN 57-0835114
HERITAGE CLASSIC FOUNDATION
Tax-exempt · HILTON HEAD, SC 29928
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $18,963,218 | $16,538,818 | $2,424,400 | $16,833,592 | $8,707,405 | $8,126,187 |
| December 31, 2023 | 990 | $14,506,827 | $13,947,268 | $559,559 | $14,213,549 | $8,450,513 | $5,763,036 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $3,155,349
- Program service revenue
- $14,857,932
- Investment income
- $362,236
- Other revenue
- $587,701
Expenses
- Grants and similar amounts paid
- $3,992,690
- Compensation of officers, directors and key employees
- $969,100
- Other salaries and wages
- $717,678
- Salaries, compensation and benefits (total)
- $1,834,913
- Professional fundraising fees
- $0
- Legal fees
- $2,635
- Accounting fees
- $26,984
- Occupancy
- $116,816
- Travel
- $88,739
- Depreciation
- $66,475
- Program services (functional)
- $16,268,150
- Management and general (functional)
- $270,168
- Fundraising (functional)
- $500
Balance sheet and other
- Total assets, start of year
- $14,213,549
- Total assets, end of year
- $16,833,592
- Total liabilities, end of year
- $8,707,405
- Net assets, end of year
- $8,126,187
- Land, buildings and equipment
- $610,721
- Publicly traded securities
- $2,543,541
- Net assets without donor restrictions
- $8,126,187
- Gross receipts
- $18,963,218
- Employees
- 13
- Volunteers
- 1,200
- Year formed
- 1987
- State of legal domicile
- SC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| STEPHEN J WILMOT | President & CEO Trustee or director | 40 | $309,866 |
| DEREK R PATON | VP SALES & MARKETING | 40 | $265,149 |
| JAMES M IVESTER | DIRECTOR OF CORPORATE SALES | 40 | $199,144 |
| MORGAN HYDE | VP OPERATIONS | 40 | $116,950 |
| J SIMON FRASER | Chairman Trustee or director, Officer | 16 | $18,000 |
| RICHARD P REICHEL | Treasurer Trustee or director, Officer | 16 | $0 |
| CARY CORBITT | Trustee Trustee or director | 8 | $0 |
| STEVEN P BIRDWELL | Trustee Trustee or director | 2 | $0 |
| MARC GRANT | Trustee Trustee or director | 2 | $0 |
| LISA SULKA | Trustee Trustee or director | 2 | $0 |
| TRICIA B LYNCH | Trustee Trustee or director | 2 | $0 |
| WILLIAM G MILES | Secretary Trustee or director, Officer | 16 | $0 |
| DONALD F CALHOON | Trustee Trustee or director | 8 | $0 |
| SCOTT H RICHARDSON | Trustee Trustee or director | 8 | $0 |
| TERRY A FINGER | VICE CHARIRMAN Trustee or director | 16 | $0 |
8 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CHARLES C ROUNTREE III | Trustee Trustee or director | 8 | $0 |
| W DOUGLAS SMITH | Trustee Trustee or director | 8 | $0 |
| PAMELA P LACKEY | Trustee Trustee or director | 2 | $0 |
| CHRISTOPHER L CORKERN | Trustee Trustee or director | 2 | $0 |
| AL KENNICKELL | Trustee Trustee or director | 2 | $0 |
| MIKE MANESOTIS | Trustee Trustee or director | 2 | $0 |
| ANN MCBRIEN | Trustee Trustee or director | 2 | $0 |
| JEFFREY G REILLEY | Trustee Trustee or director | 2 | $0 |
990 for the year ended December 31, 2023: 23 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DEREK R PATON | VP SALES & MARKETING | 40 | $432,359 |
| STEPHEN J WILMOT | President & CEO Trustee or director | 40 | $279,346 |
| JAMES M IVESTER | DIRECTOR OF CORPORATE SALES | 40 | $165,828 |
| MORGAN HYDE | VP OPERATIONS | 40 | $125,241 |
| RICHARD P REICHEL | Treasurer Trustee or director, Officer | 16 | $24,000 |
| J SIMON FRASER | Chairman Trustee or director, Officer | 16 | $18,000 |
| CARY CORBITT | Trustee Trustee or director | 8 | $0 |
| STEVEN P BIRDWELL | Trustee Trustee or director | 2 | $0 |
| MARC GRANT | Trustee Trustee or director | 2 | $0 |
| LISA SULKA | Trustee Trustee or director | 0 | $0 |
| TRICIA B LYNCH | Trustee Trustee or director | 2 | $0 |
| WILLIAM G MILES | Secretary Trustee or director, Officer | 16 | $0 |
| DONALD F CALHOON | Trustee Trustee or director | 8 | $0 |
| SCOTT H RICHARDSON | Trustee Trustee or director | 8 | $0 |
| TERRY A FINGER | VICE CHARIRMAN Trustee or director | 16 | $0 |
| CHARLES C ROUNTREE III | Trustee Trustee or director | 8 | $0 |
| W DOUGLAS SMITH | Trustee Trustee or director | 8 | $0 |
| PAMELA P LACKEY | Trustee Trustee or director | 2 | $0 |
| CHRISTOPHER L CORKERN | Trustee Trustee or director | 2 | $0 |
| AL KENNICKELL | Trustee Trustee or director | 2 | $0 |
| MIKE MANESOTIS | Trustee Trustee or director | 2 | $0 |
| ANN MCBRIEN | Trustee Trustee or director | 2 | $0 |
| JEFFREY G REILLEY | Trustee Trustee or director | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 71 LIGHTHOUSE RD UNIT 4200, HILTON HEAD, SC 29928-7283
- Principal officer (990 for 2024)
- J SIMON FRASER, PO BOX 3244, HILTON HEAD ISLAND, SC 29928
- Signed the 990
- J SIMON FRASER, Chairman
- Phone
- (843) 671-5755
- Return prepared by
- EDWARD B DOWASCHINSKI CPA
Mission
THE HERITAGE CLASSIC FOUNDATION'S PRIMARY EXEMPT PURPOSE IS TO DISTRIBUTE THE NET PROFITS FROM A PGA TOUR EVENT TO LOCAL AND STATEWIDE CHARITIES.
Program accomplishments
- THE PRIMARY MISSION OF THE HERITAGE CLASSIC FOUNDATION IS ACCOMPLISHED BY OPERATING A PGA TOUR SANCTIONED GOLF TOURNAMENT KNOWN AS THE RBC HERITAGE PRESENTED BY BOEING. THE NET PROCEES FROM THE TOURNAMENT PLAYED AT THE HARBOUR TOWN GOLF LINKS, HILTON HEAD ISLAND, SC ARE USED TO MAKE DISTRIBUTIONS TO OTHER NOT-FOR-PROFIT ORGANIZATIONS THROUGH GRANT DISTRIBUTIONS AND SCHOLARSHIPS.Expenses $13,189,317 · grants $3,065,833 · revenue $18,963,218
- THE CHAMPIONS FORE CHARITY AND BIRDIES FOR CHARITY ARE PROGRAMS WE HAVE TO ENCOURAGE DONATIONS TO LOCAL CHARITABLE ORGANIZATIONS WHEREIN OUR ORGANIZATION SUPPLEMENTS THOSE DONATIONS FOR THE BENEFIT OF OTHER SPECIFIC NOT-FOR-PROFIT ORGANIZATIONS.Expenses $3,065,833 · grants $3,065,833 · revenue $2,626,745
- OUR TARTAN CLUB PROGRAM SUPPORTS THE HERITAGE CLASSIC FOUNDATION'S SCHOLAR PROGRAM.Expenses $13,000 · grants $13,000 · revenue $222,071
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 57-0835114
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1989
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T70Z)
- Assets (IRS master file)
- $16,833,592
- Income (IRS master file)
- $18,963,218
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $18,963,218 | $16,538,818 | $16,833,592 | XML |
| 990 | December 2023 | $14,506,827 | $13,947,268 | $14,213,549 | XML |
| 990 | December 2022 | $11,355,325 | $11,042,251 | $10,740,368 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 57-0835114).
Questions about HERITAGE CLASSIC FOUNDATION
- What is the EIN of HERITAGE CLASSIC FOUNDATION?
- The employer identification number (EIN) of HERITAGE CLASSIC FOUNDATION is 57-0835114.
- Is HERITAGE CLASSIC FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1989.
- Are donations to HERITAGE CLASSIC FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does HERITAGE CLASSIC FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of HERITAGE CLASSIC FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did HERITAGE CLASSIC FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of HERITAGE CLASSIC FOUNDATION?
- The 990 for the year ended December 31, 2024 names J SIMON FRASER.
- Who are the officers and directors of HERITAGE CLASSIC FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 23 people; 5 received compensation from the organization, the highest $309,866 (STEPHEN J WILMOT, President & CEO).
- How much revenue does HERITAGE CLASSIC FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $18,963,218, expenses of $16,538,818 and total assets of $16,833,592 at year end.
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