Tavern Club
- Assets
- $2.6m
- Revenue
- $607.8k
- Investments
- $1.5m
- Employees
- 15
- Location
- Boston, MA
- Founding
- 10/1951
- Data as of
- 08/2024
- EIN
- 04-1893630
Organization Overview
Tavern Club is located in Boston, MA. The organization was established in 1951. 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 08/2024, Tavern Club employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tavern Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 08/2024, Tavern Club generated $607.8k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $557.1k during the year ending 08/2024. As we would expect to see with falling revenues, expenses have declined by (2.4%) per year over the past 8 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE TAVERN CLUB IS TO PROVIDE A VENUE FOR MEMBERS TO SHARE SCHOLARLY, ARTISTIC AND LITERARY INTERESTS. ITS ACTIVITIES INCLUDE DAILY LUNCH AND WEEKLY SPEAKER DINNERS; BOOK, ART, HISTORY AND POETRY GROUPS; THEATRE AND MUSICAL PERFORMANCES CREATED AND STAGED BY MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE DINING AND FUNCTION FACILITIES FOR APPROXIMATELY 200 MEMBERS AND THEIR GUESTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George R Heaton Jr President | OfficerTrustee | 2 | $0 |
James Dekay Houghton Vice President | OfficerTrustee | 2 | $0 |
Deborah Hill Bornheimer Treasurer | OfficerTrustee | 2 | $0 |
Anne C Carter Aitken Keeper Of The Rolls, Until 5/24 | OfficerTrustee | 2 | $0 |
George Perkins Keeper Of The Rolls, Eff. 5/24 | OfficerTrustee | 2 | $0 |
Sarah Spence Mcgregor Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $112,905 |
| Government grants | $0 |
| 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 | $112,905 |
| Total Program Service Revenue | $528,931 |
| Investment income | $58,683 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $14,400 |
| Net Gain/Loss on Asset Sales | $64,822 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$171,930 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $607,811 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $134,430 |
| Pension plan accruals and contributions | $3,160 |
| Other employee benefits | $8,558 |
| Payroll taxes | $11,402 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $29,707 |
| Fees for services: Accounting | $16,094 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,886 |
| Advertising and promotion | $0 |
| Office expenses | $21,323 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $124,245 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $72,806 |
| Insurance | $45,711 |
| All other expenses | $9,457 |
| Total functional expenses | $557,053 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,502 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $50,756 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $12,892 |
| Prepaid expenses and deferred charges | $20,550 |
| Net Land, buildings, and equipment | $961,866 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,527,881 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,636,447 |
| Accounts payable and accrued expenses | $1,401 |
| Grants payable | $0 |
| Deferred revenue | $47,331 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,346 |
| Total liabilities | $55,078 |
| Net assets without donor restrictions | $1,195,837 |
| Net assets with donor restrictions | $1,385,532 |
| 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 | $2,636,447 |