Metropolitan Club Inc
- Assets
- $28.1m
- Revenue
- $22.5m
- Investments
- $0.0
- Employees
- 170
- Location
- New York, NY
- Founding
- 08/1938
- Data as of
- 12/2023
- EIN
- 13-1518177
Organization Overview
Metropolitan Club Inc is located in New York, NY. The organization was established in 1938. 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 12/2023, Metropolitan Club Inc employed 170 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Metropolitan Club Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2023, Metropolitan Club Inc generated $22.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $21.5m during the year ending 12/2023. While expenses have increased by 1.2% per year over the past 6 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 MAINTAIN AND CONDUCT A CLUB EXCLUSIVELY FOR THE PLEASURE OF ITS MEMBERS AND OTHER NON-PROFITABLE PURPOSES. NO PART OF THE NET EARNINGS OF WHICH SHALL INURE TO THE BENEFIT OF 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 |
|---|---|---|---|
Robert Strang President / Governor | OfficerTrustee | 2 | $0 |
Douglas Catalno Vice President / Governor | OfficerTrustee | 2 | $0 |
Raymond Cosman Vice President / Governor | OfficerTrustee | 2 | $0 |
Trent Dickey Vice President / Governor | OfficerTrustee | 2 | $0 |
Michael Coyne Secretary / Governor | OfficerTrustee | 2 | $0 |
John D White Treasurer / Governor | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Clifton Budd & Demaria Llp Legal Services | 12/30/23 | $174,263 |
Lets Dance Music Piano Player For Clubs Restaurant | 12/30/23 | $145,550 |
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 | $3,230,618 |
| Investment income | $27,302 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$12,387 |
| 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 | $19,298,649 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,544,182 |
| 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. | $596,180 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,044,436 |
| Pension plan accruals and contributions | $538,007 |
| Other employee benefits | $2,209,718 |
| Payroll taxes | $674,737 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $325,393 |
| Fees for services: Accounting | $41,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $159,103 |
| Advertising and promotion | $0 |
| Office expenses | $746,408 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,706,852 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,000 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,498,959 |
| Insurance | $396,187 |
| All other expenses | $0 |
| Total functional expenses | $21,469,234 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,448,095 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,784,628 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $131,688 |
| Prepaid expenses and deferred charges | $1,309,992 |
| Net Land, buildings, and equipment | $21,455,654 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $28,130,057 |
| Accounts payable and accrued expenses | $2,172,377 |
| 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 | $5,318,006 |
| Total liabilities | $7,490,383 |
| Net assets without donor restrictions | $20,639,674 |
| 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 | $28,130,057 |