The PGA Tour Champions has named the Principal Charity Classic as 2016 Tournament of the Year, presenting the 10-year-old annual Des Moines event with its first-ever President’s Award. The PGA Tour presented the award Wednesday during its annual meetings in Las Vegas. The President’s Award is the highest tournament honor awarded by the PGA Tour Champions annually and recognizes overall excellence, as well as the intangibles that make a tournament stand out among many successful events. Principal Financial Group is the title sponsor for the annual tournament, which this year raised more than $2 million for children’s charities. “The Principal Charity Classic has left a significant charitable footprint as well as an estimated $23 million annual economic impact on the greater Des Moines region,” Gov. Terry Branstad said in a release. “That matters to this state. It’s companies like Principal, as well as the volunteers, spectators and local businesses that step up every year, that make this tournament possible and keep our state moving forward.”