Harvard Club Of Boston
- Assets
- $27.3m
- Revenue
- $7.0m
- Investments
- $0.0
- Employees
- 273
- Location
- Boston, MA
- Founding
- 08/1938
- Data as of
- 08/2021
- EIN
- 04-1423320
Organization Overview
Harvard Club Of Boston is located in Boston, MA. The organization was established in 1938. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 08/2021, Harvard Club Of Boston employed 273 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Harvard Club Of Boston is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 08/2021, Harvard Club Of Boston generated $7.0m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $7.2m during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (1.9%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE HARVARD CLUB OF BOSTON SERVES APPROXIMATELY 4,400 MEMBERS AND PROVIDES ROOMS, FOOD AND BEVERAGES, ATHLETIC FACILITIES AND OTHER SERVICES TO FOSTER THE SOCIAL PURPOSES OF THE MEMBERSHIP. THE CLUB HOLDS NUMEROUS FUNCTIONS FOR ITS MEMBERS AND THEIR GUESTS INCLUDING VARIOUS HOLIDAY DINNERS, MONTHLY WINE DINNERS, THE FATHER/DAUGHTER TEA DANCE, THEATRE NIGHTS, AUTHOR SERIES, AND ANNUAL SATURDAY SYMPOSIA FEATURING VARIOUS HARVARD FACULTY AND THROUGH HOSTING MANY GUEST SPEAKERS DISCUSSING A MYRIAD OF THOUGHT PROVOKING TOPICS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HARVARD CLUB OF BOSTON PROVIDES FINE DINING, FAMILY FUNCTIONS, SLEEPING ROOMS AND MEMBER EVENTS AS WELL AS RECREATIONAL, EXERCISE AND AEROBICS PROGRAMS TO ITS MORE THAN FOUR THOUSAND MEMBERS AND THEIR GUESTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven P Cummings General Manager | Officer | 40 | $473,078 |
Michael Jenkins Chief Financial Officer | Officer | 40 | $209,026 |
Karen Galvin Chief Marketing Officer | 40 | $183,044 | |
Dean Moore Executive Chef | 40 | $167,205 | |
Lisa Armetta Human Resources Director | 40 | $139,233 | |
Roger Schofield Jr Assistant General Manager | 40 | $127,839 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,626,340 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,626,340 |
| Total Program Service Revenue | $7,131,621 |
| Investment income | $4,669 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$1,717,937 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,044,693 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $821,303 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,862,545 |
| Pension plan accruals and contributions | $76,575 |
| Other employee benefits | $441,873 |
| Payroll taxes | $165,751 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $33,708 |
| Fees for services: Accounting | $58,302 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $100,579 |
| Advertising and promotion | $20,787 |
| Office expenses | $231,428 |
| Information technology | $114,174 |
| Royalties | $0 |
| Occupancy | $996,163 |
| Travel | $3,981 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,659 |
| Interest | $324,674 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,246,017 |
| Insurance | $12,398 |
| All other expenses | $118,407 |
| Total functional expenses | $7,180,161 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $571,486 |
| Savings and temporary cash investments | $3,237,103 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,589,038 |
| Loans from Officers, Directors, or Controlling Persons | $77,650 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $175,984 |
| Prepaid expenses and deferred charges | $160,557 |
| Net Land, buildings, and equipment | $18,856,129 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,663,928 |
| Total assets | $27,331,875 |
| Accounts payable and accrued expenses | $1,179,303 |
| Grants payable | $0 |
| Deferred revenue | $2,763,740 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $10,513,150 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $643,908 |
| Total liabilities | $15,100,101 |
| Net assets without donor restrictions | $12,231,774 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $27,331,875 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Harvard Club Of Boston has recieved totaling $80.
| Awarding Organization | Amount |
|---|---|
The Goldberg Family Foundation Boston, MA PURPOSE: CHARITABLE | $80 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Glen Oaks Club Inc Old Westbury, NY | $13,779,705 | $20,068,781 |
Sleepy Hollow Country Club Westchester Scarborough, NY | $36,824,085 | $23,136,850 |
Wee Burn Country Club Inc Darien, CT | $32,519,463 | $16,725,850 |
Piping Rock Club Locust Valley, NY | $31,334,038 | $17,059,500 |
Oak Hill Country Club Rochester, NY | $24,513,885 | $17,798,483 |
Greenwich Country Club Greenwich, CT | $48,407,804 | $23,136,592 |
Harvard Club Of New York City New York, NY | $57,363,784 | $14,784,742 |
Wellesley Country Club Wellesley, MA | $55,523,277 | $17,353,733 |
Colony Club New York, NY | $19,784,366 | $16,065,896 |
Creek Inc Locust Valley, NY | $5,369,299 | $13,749,282 |
Woodway Country Club Incorporated Darien, CT | $32,570,201 | $14,880,536 |
Round Hill Club Incorporated Greenwich, CT | $26,532,622 | $13,385,000 |