The Core Club Fifth Ave Inc
- Assets
- $3.2m
- Revenue
- $7.4m
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- Data as of
- 12/2023
- EIN
- 88-2040110
Organization Overview
The Core Club Fifth Ave Inc is located in New York, NY. Core Club Fifth Ave Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CORE: IS COMMITTED TO CURATING A GLOBAL COMMUNITY OF RELENTLESSLY CURIOUS INDIVIDUALS WHO ARE ENERGIZED BY CULTURAL EXPLORATION AND VALUE ORIGINAL PERSPECTIVES. OUR MEMBERS ARE IMMERSED IN A WORLD OF DYNAMIC, ENGAGED COMMUNITY; EXPERTLY CURATED CULTURAL PROGRAMMING AND EXPERIENCES, REMARKABLE ART AND ARCHITECTURE; WORLD-CLASS AMENITIES, INCLUDING EXCEPTIONAL CULINARY EXPERIENCES, LUXURY SUITES, LEADING EDGE WELLNESS AND BODY CAREAND ALL WITHIN LANDMARK PROPERTIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXCLUSIVE ENVIRONMENT WHERE PEOPLE CAN SOCIALIZETHE CLUB'S MEMBER ACCESS PROGRAM IS DESIGNED TO FOSTER A SENSE OF COMMUNITY AMONG OUR MEMBERS, ENSURING OPPORTUNITIES FOR PERSONAL INTERACTION WITHIN AN INCLUSIVE AND WELCOMING ENVIRONMENT. ACCESS IS EXCLUSIVELY RESERVED FOR MEMBERS, WITH FUNDING DERIVED FROM MEMBERSHIP FEES THAT DIRECTLY SUPPORT CLUB OPERATIONS.
EVENT HOSTINGTHE CLUB'S EVENT HOSTING FACILITIES CREATE AN IDEAL VENUE FOR MEMBERS TO CONNECT AND ENGAGE IN SHARED EXPERIENCES. THESE FACILITIES ARE AVAILABLE ONLY TO MEMBERS AND ARE SUPPORTED BY BOTH MEMBERSHIP FEES AND EVENT-RELATED REVENUES.
HOTEL SERVICES TO HELP WITH SOCIALIZATIONOUR OVERNIGHT ROOM RENTAL OPTION PROVIDES MEMBERS WITH CONVENIENT ACCOMMODATION, SUPPORTING OPPORTUNITIES FOR PERSONAL CONTACT AND A SENSE OF COMMUNITY AMONG CLUB MEMBERS. THIS SERVICE IS EXCLUSIVELY AVAILABLE TO MEMBERS, WITH BOTH MEMBER FEES AND ROOM RENTAL REVENUES SUSTAINING ITS AVAILABILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennie Enterprise Director | Trustee | 1 | $0 |
Dangene Enterprise Director | Trustee | 1 | $0 |
Anthony Scaramucci Director | Trustee | 1 | $0 |
Jennie Enterprise President | Officer | 40 | $0 |
Dangene Enterprise VP & Secretary | Officer | 1 | $0 |
Sid Mehra Treasurer | Officer | 40 | $0 |
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 | $7,407,430 |
| Investment income | $0 |
| 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 | $7,407,539 |
| 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 | $2,492,594 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $163,546 |
| Payroll taxes | $251,785 |
| Fees for services: Management | $740,743 |
| Fees for services: Legal | $25,500 |
| 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 | $928,980 |
| Advertising and promotion | $105,874 |
| Office expenses | $10,687 |
| Information technology | $162,067 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $51,536 |
| 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 | $0 |
| Insurance | $102,940 |
| All other expenses | $773,947 |
| Total functional expenses | $7,824,567 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $51,206 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,923,880 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $231,114 |
| Prepaid expenses and deferred charges | $239,013 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $794,073 |
| Total assets | $3,239,286 |
| Accounts payable and accrued expenses | $478,651 |
| Grants payable | $0 |
| Deferred revenue | $2,708,603 |
| 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 | $469,060 |
| Total liabilities | $3,656,314 |
| 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 | -$417,028 |
| Total liabilities and net assets/fund balances | $3,239,286 |