Tower Club Of Princeton University
- Assets
- $4.4m
- Revenue
- $609.1k
- Investments
- $573.5k
- Employees
- 50
- Location
- Princeton, NJ
- Founding
- 09/1942
- Data as of
- 06/2021
- EIN
- 21-0730244
Organization Overview
Tower Club Of Princeton University is located in Princeton, NJ. The organization was established in 1942. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 06/2021, Tower Club Of Princeton University employed 50 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tower Club Of Princeton University is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 06/2021, Tower Club Of Princeton University generated $609.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (22.9%) each year. All expenses for the organization totaled $725.0k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (19.0%) per year over the past 5 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
TO PROVIDE FOOD, SOCIAL AND EDUCATIONAL ACTIVITIES TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE FOOD, SOCIAL AND EDUCATIONAL ACTIVITIES TO ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Forkel General Manager | 40 | $134,430 | |
David Woffindin Treasurer | OfficerTrustee | 1 | $0 |
Charles B Hughes Vice Chair | OfficerTrustee | 1 | $0 |
Gregory Berzolla Chair | OfficerTrustee | 1 | $0 |
Michael Matejek Trustee | Trustee | 1 | $0 |
Patrick Yun Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $552,000 |
| 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 | $552,000 |
| Total Program Service Revenue | $0 |
| Investment income | $57,106 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $609,106 |
| 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 | $307,987 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $28,840 |
| Payroll taxes | $31,003 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,271 |
| Advertising and promotion | $0 |
| Office expenses | $11,707 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $71,941 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $20,876 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $144,244 |
| Insurance | $72,823 |
| All other expenses | $4,349 |
| Total functional expenses | $724,983 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $312,693 |
| Savings and temporary cash investments | $908,154 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,876 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,487,886 |
| Investments—publicly traded securities | $121,621 |
| Investments—other securities | $573,502 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $18,885 |
| Total assets | $4,442,617 |
| Accounts payable and accrued expenses | $10,730 |
| Grants payable | $0 |
| Deferred revenue | $40,919 |
| 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 | $412,679 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $177,523 |
| Total liabilities | $641,851 |
| Net assets without donor restrictions | $0 |
| 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 | $3,800,766 |
| Total liabilities and net assets/fund balances | $4,442,617 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Tower Club Of Princeton University has recieved totaling $95,000.
| Awarding Organization | Amount |
|---|---|
Princeton Prospect Foundation Princeton, NJ PURPOSE: EDUCATIONAL PURPOSES & HISTORIC PRESERVATION | $95,000 |
Peer Organizations
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|---|---|---|
Westchester Country Club Inc Rye, NY | $77,553,664 | $42,480,746 |
Yale Club Of New York City New York, NY | $50,588,779 | $20,944,634 |
Old Westbury Golf & Country Club Inc Old Westbury, NY | $24,637,751 | $16,881,231 |
Hudson National Golf Club Inc Croton On Hudson, NY | $51,687,185 | $12,086,027 |
Lake Naomi Club Pocono Pines, PA | $31,181,948 | $14,377,164 |
Pine Valley Golf Club Pine Valley, NJ | $27,464,552 | $15,641,646 |
Plainfield Country Club Edison, NJ | $20,539,827 | $10,734,974 |
Glen Ridge Country Club Glen Ridge, NJ | $4,315,456 | $11,200,681 |
Overbrook Golf Club Bryn Mawr, PA | $25,446,093 | $10,373,823 |
Fisher Island Club Inc Fishers Island, NY | $26,382,427 | $9,842,592 |
North Jersey Country Club Inc Wayne, NJ | $12,240,984 | $10,758,532 |
Noyac Golf Club Inc Sag Harbor, NY | $25,263,669 | $11,022,614 |