Penn Club Of New York Inc
- Assets
- $19.5m
- Revenue
- $9.0m
- Investments
- $11.8m
- Employees
- 81
- Location
- New York, NY
- Founding
- 09/1994
- Data as of
- 06/2022
- EIN
- 23-2726687
Organization Overview
Penn Club Of New York Inc is located in New York, NY. The organization was established in 1994. 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 06/2022, Penn Club Of New York Inc employed 81 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Penn Club Of New York Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 06/2022, Penn Club Of New York Inc generated $9.0m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $8.4m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (2.5%) per year over the past 6 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THE PENN CLUB OF NEW YORK, INC. (THE "CLUB") IS TO ENCOURAGE AND STIMULATE ALUMNI INTERACTION AND CATER TO THE NEEDS OF THE ALUMNI.
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 |
|---|---|---|---|
Martin Baldinelli General Manager | Officer | 40 | $342,500 |
Nabil Fahmy Comptroller | Officer | 40 | $309,500 |
Heba Elshinawy Director Of Rooms | 40 | $167,700 | |
Jose Acosta Director Of Engineering | 40 | $138,900 | |
Ping Nan Assistant Comptroller | 40 | $131,100 | |
Jennifer Gregoriou Director Of Membership | 40 | $121,700 |
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 | $4,054,933 |
| Investment income | $578,890 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $542,988 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $3,525,361 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,020,324 |
| 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. | $653,593 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,713,439 |
| Pension plan accruals and contributions | $275,694 |
| Other employee benefits | $618,896 |
| Payroll taxes | $182,745 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,985 |
| Fees for services: Accounting | $41,215 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $546,713 |
| Advertising and promotion | $144,116 |
| Office expenses | $125,567 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $849,187 |
| Travel | $1,985 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,137 |
| Interest | $37,500 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $232,810 |
| Insurance | $0 |
| All other expenses | $48,831 |
| Total functional expenses | $8,432,183 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,660,113 |
| Savings and temporary cash investments | $1,503,820 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,270,419 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $57,476 |
| Prepaid expenses and deferred charges | $465,565 |
| Net Land, buildings, and equipment | $1,342,167 |
| Investments—publicly traded securities | $1,393,272 |
| Investments—other securities | $11,804,039 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $19,496,871 |
| Accounts payable and accrued expenses | $1,054,551 |
| Grants payable | $0 |
| Deferred revenue | $4,016,363 |
| 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 | $1,987,159 |
| Total liabilities | $7,058,073 |
| Net assets without donor restrictions | $12,438,798 |
| 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 | $19,496,871 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Piping Rock Club Locust Valley, NY | $31,334,038 | $17,059,500 |
Philadelphia Cricket Club Philadelphia, PA | $37,903,760 | $20,280,729 |
Rolling Rock Club Ligonier, PA | $40,965,761 | $18,300,601 |
Oak Hill Country Club Rochester, NY | $24,513,885 | $17,798,483 |
The Ridgewood Country Club Paramus, NJ | $31,275,344 | $17,956,980 |
Montclair Golf Club Montclair, NJ | $32,931,083 | $17,687,834 |
Greenwich Country Club Greenwich, CT | $48,407,804 | $23,136,592 |