Racquet & Tennis Club
- Assets
- $26.5m
- Revenue
- $14.3m
- Investments
- $0.0
- Employees
- 113
- Location
- New York, NY
- Founding
- 03/1939
- Data as of
- 12/2021
- EIN
- 13-1194010
Organization Overview
Racquet & Tennis Club is located in New York, NY. The organization was established in 1939. 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 12/2021, Racquet & Tennis Club employed 113 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Racquet & Tennis Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2021, Racquet & Tennis Club generated $14.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $12.5m during the year ending 12/2021. 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 ENCOURAGE SPORTS AMONG ITS MEMBERS & TO MAINTAIN A CLUBHOUSE INCLUDING VARIOUS ATHLETIC & DINING FACILITIES, & A SPORTS LIBRARY FOR THE USE AND ENJOYMENT OF ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAX EXEMPT CLUB ACTIVITIES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Gressler Resident Manager | Officer | 40 | $305,769 |
Stephen B Tanfield Tennis Pro | 40 | $173,512 | |
James Stout Racquet Pro | 40 | $170,982 | |
Robert Kurtz Controller | 40 | $167,942 | |
Tom Hawkins Executive Chef | 40 | $143,200 | |
Jeff Patton Engineer | 40 | $134,827 |
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 | $8,067,289 |
| Investment income | $278,774 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,378,396 |
| Net Gain/Loss on Asset Sales | $21,775 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,390,550 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,305,420 |
| 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. | $365,914 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,808,447 |
| Pension plan accruals and contributions | $255,817 |
| Other employee benefits | $1,279,191 |
| Payroll taxes | $446,470 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $31,662 |
| Fees for services: Accounting | $38,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $84,815 |
| Fees for services: Other | $489,151 |
| Advertising and promotion | $0 |
| Office expenses | $847,004 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,382,998 |
| Travel | $24,768 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,235 |
| Interest | $4,026 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $109,919 |
| Insurance | $174,047 |
| All other expenses | $243,623 |
| Total functional expenses | $12,498,836 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,580,928 |
| Savings and temporary cash investments | $613,154 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,962,787 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $499,062 |
| Prepaid expenses and deferred charges | $628,511 |
| Net Land, buildings, and equipment | $1 |
| Investments—publicly traded securities | $12,967,104 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,291,109 |
| Total assets | $26,542,656 |
| Accounts payable and accrued expenses | $1,869,788 |
| Grants payable | $0 |
| Deferred revenue | $3,588,826 |
| 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 | $1,718,201 |
| Total liabilities | $7,176,815 |
| Net assets without donor restrictions | $19,365,841 |
| 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 | $26,542,656 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Wee Burn Country Club Inc Darien, CT | $32,519,463 | $16,725,850 |