University Club
- Assets
- $61.0m
- Revenue
- $35.6m
- Investments
- $0.0
- Employees
- 352
- Location
- New York, NY
- Founding
- 09/1934
- Data as of
- 02/2023
- 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 02/2023, University Club employed 352 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 02/2023, University Club generated $35.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $34.1m during the year ending 02/2023. While expenses have increased by 0.7% 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
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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Lifson President | OfficerTrustee | 10 | $0 |
C Casey Bayles Vice President | OfficerTrustee | 10 | $0 |
Edward A Reilly Jr Vice President | OfficerTrustee | 10 | $0 |
Micaela Rh Mcmurrough Secretary | OfficerTrustee | 10 | $0 |
Martin L Budd Treasurer | OfficerTrustee | 10 | $0 |
Paul C Kingsbery Asst. Secretary | OfficerTrustee | 10 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
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 |
America's Charities Finance | 2/27/22 | $257,970 |
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 | $725,316 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $725,316 |
| Total Program Service Revenue | $14,941,676 |
| Investment income | $626,691 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$391,292 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $19,680,363 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $35,582,754 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $250,000 |
| 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. | $816,057 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,591,453 |
| Pension plan accruals and contributions | $771,025 |
| Other employee benefits | $5,289,996 |
| Payroll taxes | $1,539,426 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $111,823 |
| Fees for services: Accounting | $60,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $94,234 |
| Fees for services: Other | $218,365 |
| Advertising and promotion | $0 |
| Office expenses | $1,619,338 |
| Information technology | $69,012 |
| Royalties | $0 |
| Occupancy | $3,581,041 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,053 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,702,376 |
| Insurance | $408,236 |
| All other expenses | $562,104 |
| Total functional expenses | $34,114,022 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $890,964 |
| Savings and temporary cash investments | $2,211,147 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,648,639 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,630,577 |
| Prepaid expenses and deferred charges | $1,433,663 |
| Net Land, buildings, and equipment | $29,434,083 |
| Investments—publicly traded securities | $21,702,460 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $73,238 |
| Total assets | $61,024,771 |
| Accounts payable and accrued expenses | $4,458,364 |
| 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 | $3,219,689 |
| Total liabilities | $7,678,053 |
| Net assets without donor restrictions | $50,447,018 |
| Net assets with donor restrictions | $2,899,700 |
| 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 | $61,024,771 |