University Club
- Assets
- $61.6m
- Revenue
- $30.9m
- Investments
- $0.0
- Employees
- 312
- Location
- New York, NY
- Founding
- 09/1934
- Data as of
- 02/2022
- EIN
- 13-1429480
Organization Overview
University Club is located in New York, NY. The organization was established in 1934. 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 02/2022, University Club employed 312 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 02/2022, University Club generated $30.9m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.3%) each year. All expenses for the organization totaled $27.7m during the year ending 02/2022. As we would expect to see with falling revenues, expenses have declined by (2.1%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTION OF LITERATURE & ART, BY ESTABLISHING & MAINTAINING A LIBRARY READING-ROOM, GALLERY OF ART; USE OF THE CLUBHOUSE & ATHLETIC FACILITIES FOR ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAX EXEMPT CLUB ACTIVITIES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John P Dorman General Manager | Officer | 40 | $733,865 |
Terrance Brennan Food & Beverage Director | 40 | $269,170 | |
Jennifer Zeppieri Comptroller | 40 | $210,350 | |
Robert Bagli Executive Chef | 40 | $208,619 | |
Philip Gama Engineer | 40 | $165,910 | |
Xinia Laffitte Asst. Manager | 40 | $143,943 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
America's Charities Finance | 2/27/22 | $257,970 |
Sullivan Engineering Engineer | 2/27/22 | $182,600 |
Winston & Strawn Llp Legal | 2/27/22 | $143,845 |
Elevation Health Covid Testing | 2/27/22 | $142,997 |
Atlas Acon Electric Electrical | 2/27/22 | $110,640 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| 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 | $0 |
| Total Program Service Revenue | $13,458,301 |
| Investment income | $664,255 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,775,724 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $10,546,194 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,883,399 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $300,000 |
| 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. | $904,501 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,088,341 |
| Pension plan accruals and contributions | $584,609 |
| Other employee benefits | $4,923,848 |
| Payroll taxes | $1,053,740 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $55,497 |
| Fees for services: Lobbying | $52,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $80,780 |
| Fees for services: Other | $205,666 |
| Advertising and promotion | $0 |
| Office expenses | $1,285,269 |
| Information technology | $69,034 |
| Royalties | $0 |
| Occupancy | $3,200,611 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,969 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,736,172 |
| Insurance | $373,698 |
| All other expenses | $694,833 |
| Total functional expenses | $27,678,632 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $266,022 |
| Savings and temporary cash investments | $1,248,566 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,427,903 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,459,694 |
| Prepaid expenses and deferred charges | $1,229,475 |
| Net Land, buildings, and equipment | $29,574,574 |
| Investments—publicly traded securities | $23,782,578 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,582,500 |
| Total assets | $61,571,312 |
| Accounts payable and accrued expenses | $4,685,093 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $3,083,471 |
| Total liabilities | $7,768,564 |
| Net assets without donor restrictions | $50,650,330 |
| Net assets with donor restrictions | $3,152,418 |
| 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 | $61,571,312 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that University Club has recieved totaling $6,500.
| Awarding Organization | Amount |
|---|---|
Cline Family Foundation Inc Brooklyn, NY PURPOSE: GENERAL SUPPORT | $6,000 |
Joan And Alan Ades-Taub Family Foundation Inc New York, NY PURPOSE: TO FURTHER CHARITABLE & CULTURAL ACTIVITIESTO FURTHER CHARITABLE & CULTURAL ACTIVITIES | $500 |
Endowment Analysis
| Beg. Balance | $2,957,178 |
| Earnings | $145,044 |
| Net Contributions | $614,626 |
| Other Expense | $564,430 |
| Ending Balance | $3,152,418 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New York Road Runners Inc New York, NY | $107,156,497 | $104,850,571 |
The Union League Of Philadelphia Philadelphia, PA | $166,421,963 | $49,124,019 |
New York Athletic Club New York, NY | $79,824,386 | $36,957,466 |
University Club New York, NY | $61,571,312 | $30,883,399 |
Baltusrol Golf Club Springfield, NJ | $73,541,672 | $26,510,520 |
Country Club Chestnut Hill, MA | $75,043,157 | $30,549,304 |
Winged Foot Golf Club Inc Mamaroneck, NY | $47,661,307 | $23,506,154 |
New York Yacht Club New York, NY | $54,553,348 | $22,663,268 |
Canoe Brook Country Club Summit, NJ | $49,012,793 | $22,669,304 |
Glen Oaks Club Inc Old Westbury, NY | $13,779,705 | $20,068,781 |
Saucon Valley Country Club Bethlehem, PA | $67,852,931 | $24,203,066 |
Sleepy Hollow Country Club Westchester Scarborough, NY | $36,824,085 | $23,136,850 |