HARVARD CLUB OF BOSTON (EIN 041423320) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1908

Legal Domicile

Principal Officer

MARCUS DEFLORIMONTE

Phone

6175361260

Tax Period

2023-09-01 to 2024-08-31

HARVARD CLUB OF BOSTON, founded in 1908, is a mid-sized nonprofit that reported $11.8M in total revenue in fiscal year 2023. Expenses of $10.5M left a modest 11% surplus.

Mission

THE HARVARD CLUB OF BOSTON SERVES APPROXIMATELY 5,000 MEMBERS AND PROVIDES ROOMS, FOOD AND BEVERAGES, ATHLETIC FACILITIES AND OTHER SERVICES TO FOSTER THE SOCIAL PURPOSES OF THE MEMBERSHIP. THE CLUB HOLDS NUMEROUS FUNCTIONS FOR ITS MEMBERS AND THEIR GUESTS INCLUDING VARIOUS HOLIDAY DINNERS, MONTHLY WINE DINNERS, THE FATHER/DAUGHTER TEA DANCE, THEATRE NIGHTS, AUTHOR SERIES, AND ANNUAL SATURDAY SYMPOSIA FEATURING VARIOUS HARVARD FACULTY AND THROUGH HOSTING MANY GUEST SPEAKERS DISCUSSING A MYRIAD OF THOUGHT PROVOKING TOPICS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $10,796,173

Investment Income $155,428

Other Revenue $855,852

TOTAL REVENUE $11,807,453

Expense Breakdown

Grants Paid $0

Salaries & Benefits $5,462,417

Fundraising Expenses $0

Other Expenses $5,028,067

TOTAL EXPENSES $10,490,484

Year-over-Year Comparison

	2023	2022	Change
Revenue	$11,807,453	$11,526,801	+0.0%
Expenses	$10,490,484	$9,781,432	+0.1%
Net Income	$1,316,969	$1,745,369	-0.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

257

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✓ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$16,718

Total Directors

$16,718

Key Employees

$828,401

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARCUS DEFLORIMONTE	PRESIDENT	4.00	Officer Director	$3,414	$0	$3,414
SUSAN KENDALL	VICE PRESIDENT	4.00	Officer Director	$3,414	$0	$3,414
JILLIAN E MCGRATH	VICE PRESIDENT	4.00	Officer Director	$3,062	$0	$3,062
DAVID RODRIGUEZ	SECRETARY EFFECTIVE 4/24	4.00	Officer Director	$0	$0	$0
EDWARD MATSON SIBBLE JR	SECRETARY UNTIL 4/24, DIR. EFF 4/24	4.00	Officer Director	$3,414	$0	$3,414
MICHAEL CRONIN	TREASURER	4.00	Officer Director	$0	$0	$0
JUAN CARMONA	HOUSE COMMITTEE CHAIR	4.00	Officer Director	$3,414	$0	$3,414
BITHIAH L CARTER	DIRECTOR EFFECTIVE 4/24	2.00	Director	$0	$0	$0
ANTHONY M CONSIGLI	DIRECTOR	2.00	Director	$0	$0	$0
CHARLES CORNISH	DIRECTOR	2.00	Director	$0	$0	$0
ANDY FREED	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL GAINES	DIRECTOR	2.00	Director	$0	$0	$0
MARTIN J GRASSO JR	DIRECTOR	2.00	Director	$0	$0	$0
SARAH C KARMON	DIRECTOR	2.00	Director	$0	$0	$0
ELIZABETH MICCI	DIRECTOR	2.00	Director	$0	$0	$0
DEBBIE MILLIN	DIRECTOR	2.00	Director	$0	$0	$0
AMY NORTON	DIRECTOR UNTIL 4/24	2.00	Director	$0	$0	$0
JAN SARAGONI	DIRECTOR	2.00	Director	$0	$0	$0
COURTNEY SHARPE	DIRECTOR	2.00	Director	$0	$0	$0
STEVEN P CUMMINGS	GENERAL MANAGER	40.00	Key Emp	$529,821	$50,638	$580,459
SARA LAWARE	CHIEF FINANCIAL OFFICER	40.00	Key Emp	$233,703	$14,239	$247,942
DEAN MOORE	EXECUTIVE CHEF	40.00	Highest	$202,270	$36,814	$239,084
REBECCA BLAESER VANA	SENIOR DIRECTOR OF MEMBERSHIP AND MARKETING	40.00	Highest	$195,449	$5,893	$201,342
ROGER SCHOFIELD JR	ASSISTANT GENERAL MANAGER	40.00	Highest	$159,368	$35,964	$195,332
LISA ARMETTA	HUMAN RESOURCES DIRECTOR	40.00	Highest	$153,403	$37,563	$190,966
GLEN BALLARD	FACILITIES MANAGER	40.00	Highest	$137,828	$35,339	$173,167

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$11,807,453	$10,490,484	$28,268,317	$1,316,969
2023	$11,526,801	$9,781,432	$28,967,885	$1,745,369
2022	$10,782,183	$8,373,783	$27,781,718	$2,408,400
2021	$7,044,693	$7,180,161	$27,331,875	$-135,468
2020	$7,261,636	$9,367,421	$26,354,779	$-2,105,785
2019	$11,733,271	$10,061,673	$30,094,931	$1,671,598
2018	$10,243,436	$9,507,660	$28,470,734	$735,776

HARVARD CLUB OF BOSTON