University Club Of Memphis
- Assets
- $5.3m
- Revenue
- $5.9m
- Investments
- $0.0
- Employees
- 188
- Location
- Memphis, TN
- Founding
- 03/1946
- Data as of
- 09/2023
- EIN
- 62-0392940
Organization Overview
University Club Of Memphis is located in Memphis, TN. The organization was established in 1946. 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 09/2023, University Club Of Memphis employed 188 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Club Of Memphis is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 09/2023, University Club Of Memphis generated $5.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $7.0m during the year ending 09/2023. While expenses have increased by 4.6% 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
NOT-FOR-PROFIT CORP. OPERATING TO PROVIDE FOR THE SOCIAL ENJOYMENT AND THE DEVELOPMENT OF PHYSICAL FITNESS OF ITS MEMBERS THROUGH EXERCISE OR ATHLETICS
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOOD & BEVERAGE OPERATIONS (DINING ROOM, BAR, & SNACK BAR)
ATHLETICS, SWIMMING POOL, TENNIS, & BABYSITTING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Balink Past President | OfficerTrustee | 2.5 | $0 |
Josh Shipley Treasurer | OfficerTrustee | 2.5 | $0 |
Scott Harkins Director | Trustee | 2.5 | $0 |
Amy Huber Director | Trustee | 2.5 | $0 |
Steven King Secretary | OfficerTrustee | 2.5 | $0 |
Wakefield Gordon President | OfficerTrustee | 2.5 | $0 |
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 | $5,206,418 |
| Investment income | $61,298 |
| 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 | $652,817 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,920,533 |
| 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. | $158,250 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,808,098 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $252,598 |
| Payroll taxes | $283,410 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $47,817 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $247,710 |
| Advertising and promotion | $65,970 |
| Office expenses | $0 |
| Information technology | $85,889 |
| Royalties | $0 |
| Occupancy | $521,030 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,065 |
| Interest | $115,140 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $349,534 |
| Insurance | $93,312 |
| All other expenses | $495,538 |
| Total functional expenses | $7,016,947 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,458,062 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $481,694 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $107,623 |
| Prepaid expenses and deferred charges | $33,886 |
| Net Land, buildings, and equipment | $3,182,178 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,263,443 |
| Accounts payable and accrued expenses | $455,738 |
| Grants payable | $0 |
| Deferred revenue | $22,897 |
| 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 | $3,145,309 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,623,944 |
| Net assets without donor restrictions | $1,639,499 |
| 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 | $5,263,443 |