https://www.usga.org/content/usga/home-page/rules/rules-of-amateur-status.html#!rule-03
Currently, the short answer is yes. As of now, according to the USGA, any golfer participating in a competition for cash prizes forfeits amateur status. Further, any golfer who wins more than $750 in merchandise, prizes or prize vouchers forfeits amateur status,
An exception to this rule is Rule 3-2b regarding hole-in-one’s. Currently, there is no limit to the prize value you can receive for getting a hole-in-one.
As of January 1, 2022, a new and exciting rule will take effect. PinSeeker will be exempt from this rule as the new provision will be added limiting the rule to “tee to hole golf competition involving a score for a hole”.
(https://golfweek.usatoday.com/2021/02/22/usga-amateur-status-expenses-sponsorship-professionalism/)