2024-04-09T14:25:23-05:00 2023-05-31 111986323 MARCUM LLP 185 ASYLUM STREET 25TH FLOOR HARTFORD CT 06103 990 2022-06-01 060367660 THE GRADUATE CLUB ASSOCIATION GRAD 2036243197 155 ELM STREET NEW HAVEN CT 06508 SANDRA GERVAIS GENERAL MANAGER 2036243197 2024-04-04 1 SANDRA GERVAIS 999009999 0 MARY ANTONETTI P00431862 8607600600 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z THE ELM CITY CLUB SANDRA GERVAIS PO BOX 1875 NEW HAVEN CT 06508 1911936 0 X WWW.GRADUATECLUB.COM X 1892 CT TO PROVIDE FOOD AND BEVERAGES AS WELL AS FACILITIES TO MEMBERS AND GUESTS. X 17 17 40 24 287228 7321 681793 445379 928370 1383838 2 0 90432 80251 1700597 1909468 0 739574 0 0 801446 1008316 0 0 0 765948 866967 1567394 2614857 133203 -705389 1146221 1037226 1919928 1287876 -773707 -250650 THE CLUB CATERS TO THE PROFESSIONAL PERSON WITH EXPANDED FACILITIES FOR BUSINESS MEETINGS AND BANQUETS. ACTIVITIES AT THE CLUB INCLUDE HOLIDAY DINNERS, DINNER DANCES, THEATER NIGHTS AND VARIOUS OTHER SOCIAL EVENTS FOR MEMBERS AND THEIR FAMILIES. 0 0 1982503 739574 1176861 SERVICE OF FOOD AND BEVERAGES AND USE OF FACILITIES TO MEMBERS AND THEIR GUESTS. TRANSIENT USE OF LODGING FACILITIES BY GUESTS OF MEMBERS. 1982503 0 1 0 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 59 0 1 40 1 1 1 0 0 0 0 53060 289696 0 0 0 X 17 17 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 0 0 CT X SANDRA GERVAIS 2036243197 155 ELM STREET NEW HAVEN CT 06508 MARK TONUCCI PAST PRESIDENT 1.00 X 0 0 0 JAY SHEEHY PRESIDENT 1.00 X X 0 0 0 BRIAN BORGERSON TREASURER 1.00 X X 0 0 0 EDWARD SEIBERT SECRETARY 1.00 X X 0 0 0 SALLY GLICK LEFT 102022 DIRECTOR 1.00 X 0 0 0 TRISH PEARSON DIRECTOR 1.00 X 0 0 0 ALEXIS SULINSKI LEFT 102022 DIRECTOR 1.00 X 0 0 0 JOHN MCNAMARA LEFT 102022 DIRECTOR 1.00 X 0 0 0 FRED SETTE DIRECTOR 1.00 X 0 0 0 PETER GRAEB DIRECTOR 1.00 X 0 0 0 ANDREW LUBIN DIRECTOR 1.00 X 0 0 0 MARILYN BURLENSKI DIRECTOR 1.00 X 0 0 0 PAT GUIDO DIRECTOR 1.00 X 0 0 0 KYLE BALLOU DIRECTOR 1.00 X 0 0 0 DAVID BROWN LEFT 102022 DIRECTOR 1.00 X 0 0 0 THOMAS SANSONE VICE PRESIDENT 1.00 X X 0 0 0 CHARLOTTE REA DIRECTOR 1.00 X 0 0 0 MATTHEW BAILEY DIRECTOR 1.00 X 0 0 0 KEVIN RUTLEDGE DIRECTOR 1.00 X 0 0 0 CHRIS EARLE DIRECTOR 1.00 X 0 0 0 DEAN VAN NEST DIRECTOR 1.00 X 0 0 0 SANDRA GERVAIS GENERAL MANAGER 70.00 X 143833 0 11435 143833 0 11435 1 0 1 0 0 359719 35000 50660 445379 FOOD, BEVERAGE, ROOM 722511 1010538 915102 95436 GUEST ROOMS 722511 191864 19864 172000 SERVICE CHARGES 722511 181436 181436 0 1383838 22260 2468 19792 19792 19792 MISCELLANEOUS 722511 60459 60459 60459 1909468 1176861 287228 0 739574 739574 157675 157675 708815 466629 242186 4365 3561 804 65166 4050 61116 72295 40898 31397 8343 8343 19841 19841 113892 64925 48967 16249 16249 195383 189066 6317 1846 1846 13111 13111 30911 27820 3091 54178 50269 3909 COST OF FOOD, BAR & SVC 299767 299767 REPAIRS AND MAINTENANCE 91027 83745 7282 ENTERTAINMENT AND PROMO 5789 4197 1592 DUES, SUBSCRIPTIONS, & 5447 1298 4149 11183 6704 4479 2614857 1982503 632354 0 36723 432 846 846 231629 267488 29570 34073 44004 39390 446384 238564 788557 207820 14892 487177 1146221 1037226 242889 239653 155301 148266 1521738 412780 0 487177 1919928 1287876 X -805117 -300339 31410 49689 -773707 -250650 1146221 1037226 X -705389 1228446 X 1 X 0 0 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 446384 238564 207820 207820 OPERATING LEASE RIGHT-OF-USE ASSET, NET 487177 487177 OPERATING LEASE LIABILITY 487177 487177 X PART X, LINE 2: THE ASSOCIATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(7) OF THE INTERNAL REVENUE CODE EXCEPT FOR AMOUNTS REPRESENTING UNRELATED BUSINESS INCOME. THE ASSOCIATION DID NOT INCUR ANY FEDERAL AND STATE INCOME TAXES ON UNRELATED BUSINESS INCOME ACTIVITIES FOR THE YEARS ENDED MAY 31, 2023 AND 2022. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN AND HAS CONCLUDED THAT AS OF MAY 31, 2023, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE ASSOCIATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS PENDING OR IN PROGRESS. 0 GRADUATE CLUB PRESERVATION TRUST INC 155 ELM STREET NEW HAVEN CT 06511 882175096 501(C)(3) 0 714892 APPRAISAL 155 ELM STREET, NEW HAVEN, CT 06511, NET OF MORTGAGE PRESERVATION OF HISTORIC PROPERTY GRADUATE CLUB PRESERVATION TRUST INC 155 ELM STREET NEW HAVEN CT 06511 882175096 501(C)(3) 0 24682 FMV PROPERTY TAX ESCROW PRESERVATION OF HISTORIC PROPERTY 1 X 0 0 0 SANDRA GERVAIS GENERAL MANAGER 143833 0 0 0 0 0 1431 0 10004 0 155268 0 0 0 155 ELM STREET, NEW HAVEN, CT 2022-06-01 1800000 APPRAISAL 882175096 GRADUATE CLUB PRESERVATION TRUST INC 155 ELM STREET NEW HAVEN CT 06511 501(C)(3) MORTGAGE OBLIGATION NET, 155 ELM STREET 2022-06-01 -1085108 MORTGAGE BALANCE 882175096 GRADUATE CLUB PRESERVATION TRUST INC 155 ELM STREET NEW HAVEN CT 06511 501(C)(3) PROPERTY TAX ESCROW 2022-06-01 24682 ESCROW BALANCE 882175096 GRADUATE CLUB PRESERVATION TRUST INC 155 ELM STREET NEW HAVEN CT 06511 501(C)(3) 0 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BODY OF THE ORGANIZATION IS ELECTED BY ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B VARIOUS DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO APPROVAL BY THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE GENERAL MANAGER BEFORE FILING. A COPY OF THE FORM 990 IS PROVIDED TO THE GOVERNING BODY AFTER IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE EXECUTIVE COMMITTEE, WITH THE CLUB'S ATTORNEY, REVIEW ANY CONFLICTS OF INTEREST THAT ARISE THROUGHOUT THE YEAR AND ADDRESS SUCH SITUATIONS IN ACCORDANCE WITH THE CLUB'S CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15A THE PROCESS OF DETERMINING COMPENSATION OF THE CLUB MANAGER INCLUDES A REVIEW AND APPROVAL BY THE EXECUTIVE BOARD. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ALL INFORMATION AVAILABLE TO ITS MEMBERSHIP UPON REQUEST. FORM 990, PART XI, LINE 9: EXCESS OF FMV OVER NBV OF NONCASH GRANT 1,228,446.