Harvard Varsity Club Inc
- Assets
- $9.0m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 7
- Location
- Boston, MA
- Founding
- 03/1959
- Data as of
- 06/2022
- EIN
- 04-2104295
Organization Overview
Harvard Varsity Club Inc is located in Boston, MA. The organization was established in 1959. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2022, Harvard Varsity Club Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Harvard Varsity Club Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Harvard Varsity Club Inc generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.6% each year . All expenses for the organization totaled $1.7m during the year ending 06/2022. While expenses have increased by 10.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PRESERVE THE TRADITIONS, FOSTER THE IDEALS AND ADVANCE THE INTERESTS OF HARVARD ATHLETICS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB'S THREE LARGEST ACTIVITIES WERE NOTABLE SUCCESSES: A SELLOUT GOLF TOURNAMENT AT PINE HILLS GOLF CLUB IN PLYMOUTH MA, OVER 1,000 IN ATTENDANCE FOR THE SENIOR LETTERWINNERS' DINNER, AND A RECORD HIGH NUMBER OF DONORS (450) AND GIFTS/PLEDGES(351,000) RECORDED ON GIVING TUESDAY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Glatz Exec Dir | Officer | 40 | $297,291 |
Johanna N Boynton President | OfficerTrustee | 0.5 | $0 |
Scott C Collins Vice Preside | OfficerTrustee | 0.5 | $0 |
Treavor S Scales Vice Preside | OfficerTrustee | 0.5 | $0 |
Stephen J O'brien Treasurer | OfficerTrustee | 0.5 | $0 |
William J Cleary III Vice Preside | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $104,033 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,100,625 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,204,658 |
| Total Program Service Revenue | $375,860 |
| Investment income | $231,257 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $388,430 |
| Net Income from Fundraising Events | $256,942 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$21,479 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,503,628 |
| 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. | $297,291 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $425,600 |
| Pension plan accruals and contributions | $81,906 |
| Other employee benefits | $54,963 |
| Payroll taxes | $48,527 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,848 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $24,330 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $16,561 |
| Information technology | $12,930 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $3,434 |
| Insurance | $4,699 |
| All other expenses | $141,537 |
| Total functional expenses | $1,687,945 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $296 |
| Savings and temporary cash investments | $1,442,552 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $211,344 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $71,957 |
| Prepaid expenses and deferred charges | $41,976 |
| Net Land, buildings, and equipment | $12,066 |
| Investments—publicly traded securities | $7,228,770 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,008,961 |
| Accounts payable and accrued expenses | $240,836 |
| Grants payable | $0 |
| Deferred revenue | $223,492 |
| 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 | $9,354 |
| Total liabilities | $473,682 |
| Net assets without donor restrictions | $5,862,674 |
| Net assets with donor restrictions | $2,672,605 |
| 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 | $9,008,961 |
Grants Recieved
Over the last fiscal year, we have identified 13 grants that Harvard Varsity Club Inc has recieved totaling $57,708.
| Awarding Organization | Amount |
|---|---|
Goldman Sachs Philanthropy Fund New York, NY PURPOSE: EDUCATION | $12,800 |
The Community Foundation For Greater Atlanta Inc Atlanta, GA PURPOSE: EDUCATION | $10,000 |
Diomedes Foundation Concord, MA PURPOSE: CHARITABLE | $10,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $8,200 |
Harvard University Employees Credit Union Cambridge, MA PURPOSE: DONATION | $7,900 |
Keane Fam Foundation 092493 Needham, MA PURPOSE: CHARITABLE CONTRIBUTION UNRESTRICTED | $5,000 |
Endowment Analysis
| Beg. Balance | $7,416,854 |
| Earnings | -$1,005,595 |
| Net Contributions | $817,511 |
| Ending Balance | $7,228,770 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Auxiliary Services State University College At Oswego Inc Oswego, NY | $22,384,872 | $17,397,841 |
Brown Dermatology Inc Providence, RI | $7,129,470 | $16,553,293 |
New York School Of Interior Design New York, NY | $51,839,026 | $19,439,647 |
Campus Auxiliary Services Inc Geneseo, NY | $17,284,029 | $15,748,461 |
American Friends Of University College Oxford Inc Glastonbury, CT | $206,820 | $11,471,477 |
Vermont College Of Fine Arts Inc Montpelier, VT | $16,896,015 | $9,896,722 |
Nysernetorg Inc Syracuse, NY | $20,513,816 | $10,109,446 |
University Auxiliary Services At Albany Inc Albany, NY | $43,160,685 | $14,879,703 |
Suny Cobleskill Auxiliary Services Inc Cobleskill, NY | $8,795,968 | $7,700,761 |
New York College Of Health Professions Syosset, NY | $13,423,184 | $7,322,070 |
Holy Apostles College & Seminary Cromwell, CT | $16,975,165 | $9,078,766 |
Central Yeshiva Tomchei Timimim Lubavitz Of The U S A Brooklyn, NY | $11,238,577 | $6,653,725 |