This week the 114th U.S. Open golf championship is taking place at Pinehurst Golf and Country Club in North Carolina. In its latest IRS Form 990, the United States Golf Association – which oversees the championship – listed the value of investments on its balance sheet to be a little more than $251 million at the end of 2012.
By asset class, "publicly traded securities" accounted for 69% of the total, followed by hedge funds (20.2%), private equity (6.1%), infrastructure (4.2%) and an emerging markets fund (0.5%).
The association's $25 million of investment income generated that year accounted for a little more than 16% of its total revenue.
The association’s $65.3 million defined benefit pension plan – closed to new participants in 2008 – had an allocation of 40.3% domestic equity; 40% fixed income; 10% international equity and 9.7% real estate.