University Club
- Assets
- $4.2m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 73
- Location
- Providence, RI
- Founding
- 06/1937
- Data as of
- 04/2023
- EIN
- 05-0231650
Organization Overview
University Club is located in Providence, RI. The organization was established in 1937. 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 04/2023, University Club employed 73 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 04/2023, University Club generated $1.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $1.9m during the year ending 04/2023. While expenses have increased by 4.5% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE, FOR THE BENEFIT OF ITS MEMBERSHIP THE UNIVERSITY CLUB FACILITIES AND TO PROVIDE TO ITS MEMBERS THE OPPORTUNITY FOR LITERARY, SCIENTIFIC, ARTISTIC, AND SOCIAL DISCOURSE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOOD AND BEVERAGE OPERATION
OTHER SOCIAL ACTIVITIES FOR MEMBERS OF THE ORGANIZATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John J Brough Jr President | OfficerTrustee | 1 | $0 |
Matthew Hayes Parker Vice President | OfficerTrustee | 1 | $0 |
James P Loring Treasurer | OfficerTrustee | 1 | $0 |
Nicole J Benjamin Secretary | OfficerTrustee | 1 | $0 |
Roger Begin Committee Chair | Trustee | 1 | $0 |
Fred Adler Governor | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ew Burman Inc General Contractor | 4/29/18 | $432,375 |
Judd Brown Design Architectural Design/consulting | 4/29/18 | $174,699 |
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 | $1,962,260 |
| Investment income | $443 |
| 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 | -$810,560 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,697,963 |
| 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. | $293,620 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $186,148 |
| Pension plan accruals and contributions | $37,088 |
| Other employee benefits | $45,064 |
| Payroll taxes | $28,096 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $64,476 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $146,058 |
| Advertising and promotion | $0 |
| Office expenses | $126,329 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $292,348 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,395 |
| Interest | $75,816 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $236,085 |
| Insurance | $72,641 |
| All other expenses | $56,276 |
| Total functional expenses | $1,903,684 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $63,264 |
| Savings and temporary cash investments | $466,818 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $271,379 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $100,961 |
| Prepaid expenses and deferred charges | $59,911 |
| Net Land, buildings, and equipment | $3,227,683 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $36,085 |
| Total assets | $4,226,101 |
| Accounts payable and accrued expenses | $397,758 |
| Grants payable | $0 |
| Deferred revenue | $708,876 |
| 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 | $1,182,377 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $28,742 |
| Total liabilities | $2,317,753 |
| Net assets without donor restrictions | $1,908,348 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $4,226,101 |