CAVES VALLEY GOLF CLUB FOUNDATION INC

In connection with caves valley golf club's agreement with the pga tour and the western golf association to host the 2021 bmw championship, the foundation agreed to donate $2 million to the evans scholars foundation to support the evans scholars foundation at the university of maryland, college park and the caves valley evans scholarship house at the university of maryland, college park. Caves valley golf club agreed to assist the foundation in raising at least $1 million of the $2 million donation. The donation was contingent upon the 2021 bmw championship being held at caves valley golf club, which occurred in august 2021. The initial donation of $2 million is being paid in four installments of $500,000, ending june 2023. For each of the years ended december 31, 2022 and 2021, the foundation donated $500,000 to the evans scholars foundation.in august 2022 caves valley golf club entered into an agreement with the pga tour and the western golf association to host the 2025 bmw championship. In connection with this agreement, the foundation has agreed to donate an additional $3 million to the evans scholars foundation to support the evans scholars foundation at the university of maryland, college park. The donation will be paid in three annual installments of $1 million beginning august 1, 2024 and ending august 1, 2026. The donation is contingent upon the 2025 bmw championship being held at caves valley golf club. Should the evans scholars foundation be unsuccessful at establishing a program and scholarship house at the university of maryland, college park, any and all payments received by the evans scholars foundation from the foundation prior to the date of the determination of the unsuccessful programs will be used to fund other evans scholars foundation programming.