2024-12-17T14:30:02-06:00 2024-06-30 210650289 KLATZKIN & COMPANY LLP 1670 WHITEHORSE HAM SQ RD HAMILTON NJ 086903513 990 2023-07-01 221944189 PRINCETON TERRACE CLUB PRIN 6092581380 62 WASHINGTON ROAD PRINCETON NJ 08540 ANDREW KINACI CHAIR, BOARD OF GOVERNORS 6092581380 2024-12-17 1 0 THOMAS MARTIN P00123816 6098909189 2023 2024-10-15 13:58:12Z ANDREW KINACI 62 WASHINGTON ROAD PRINCETON NJ 08540 1759130 0 X N/A X 1904 NJ OPERATION OF AN UNDERGRADUATE EATING CLUB. 16 16 41 0 17883 0 20005 34242 1346643 1707005 3554 17883 2710 0 1372912 1759130 0 0 0 0 505703 616949 0 0 0 825434 945343 1331137 1562292 41775 196838 2964187 3160457 2488 1920 2961699 3158537 OPERATION OF AN UNDERGRADUATE EATING CLUB. 0 0 OPERATION OF AN UPPER CLASS UNDERGRADUATE EATING CLUB AS PART OF THE TOTAL "PRINCETON EXPERIENCE" ACCORDED TO SUCH STUDENTS. IN ADDITION TO BEING A DINING FACILITY, THE CLUB PROVIDES FACILITIES FOR STUDY AND RESEARCH, INTERACTION WITH FACULTY IN A SOCIAL ENVIRONMENT, PARTICIPATION IN INTRAMURAL SPORTS, AND OTHER SOCIAL ACTIVITIES. 0 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 3 0 41 1 1 1 0 0 0 0 0 0 0 0 0 X 16 16 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 0 0 1 1 0 X STEVE KREBS 6092581380 62 WASHINGTON ROAD PRINCETON NJ 08540 X STEVE FEYER TRUSTEE 1.00 X 0 0 0 ANDREW CHONG TRUSTEE 1.00 X 0 0 0 ARIELLE DEBIRA TRUSTEE 1.00 X 0 0 0 ROB WHITAKER TRUSTEE 1.00 X 0 0 0 AKIL ALLEYNE TRUSTEE 1.00 X 0 0 0 TRISTAN SCHRADER SECRETARY 1.00 X X 0 0 0 JUSTIN GERALD TRUSTEE 1.00 X 0 0 0 ANDREW KINACI CHAIR 1.00 X X 0 0 0 JENNY KORN VICE-CHAIR 1.00 X X 0 0 0 JASMINE JEFFERS TREASURER 1.00 X X 0 0 0 LUCIA PERASSO TRUSTEE 1.00 X 0 0 0 JIA NATALIA CHEN TRUSTEE 1.00 X 0 0 0 ABIGAIL KALMBACH TRUSTEE 1.00 X 0 0 0 JON STRASSFELD TRUSTEE 1.00 X 0 0 0 ARIANA VERA TRUSTEE 1.00 X 0 0 0 CHRISTINE YOUNG TRUSTEE 1.00 X 0 0 0 STEVE KREBS CLUB MANAGER 40.00 X 135125 0 42084 135125 0 42084 1 0 1 0 0 34242 34242 MEMBER DUES 900099 1697005 1697005 PARKING FEES 900099 10000 10000 1707005 17883 17883 1759130 1707005 17883 0 481316 70326 65307 6850 8625 255809 63008 FOOD AND BEVERAGES 382236 SPECIAL EVENTS 61306 SOCIAL FUND EXPENSES 47379 HOUSE SUPPLIES 41139 78991 1562292 262870 450183 875674 879621 75 625 1750 2000 23818 28028 1800000 0 1800000 1800000 2964187 3160457 1794 1319 93 601 601 2488 1920 X 2961699 3158537 2961699 3158537 2964187 3160457 196838 0 X X 1 X 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 920500 920500 809800 809800 69700 69700 1800000 601 601 X PART X, LINE 2: PRINCETON TERRACE CLUB HAS BEEN DETERMINED TO BE EXEMPT FROM FEDERAL INCOME TAX ON INCOME ARISING FROM ITS EXEMPT PURPOSES, UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE, SECTION 501(C)(7). UNDER THE INTERNAL REVENUE CODE AND REGULATIONS, THE ORGANIZATION IS SUBJECT TO INCOME TAX ON UNRELATED BUSINESS INCOME, SPECIFICALLY ON EARNINGS FROM CASH MANAGEMENT AND INVESTMENT ACCOUNTS. THE ORGANIZATION'S FEDERAL EXEMPT AND UNRELATED BUSINESS INCOME RETURNS FOR 2022-2024 ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. THE STATUTE OF LIMITATIONS DOES NOT APPLY TO UNFILED RETURNS. THE ORGANIZATION BELIEVES THAT ALL REQUIRED RETURNS HAVE BEEN FILED. IN THE EVENT IT WOULD BE REQUIRED, THE ORGANIZATION WOULD RECOGNIZE INTEREST ACCRUED RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES. THE ORGANIZATION HAS NOT RECOGNIZED ANY AMOUNTS FOR INTEREST AND PENALTIES ACCRUED AT JUNE 30, 2024. SCHEDULE D, PART VI, LINES 1A - 1E PROPERTY AND EQUIPMENT INCLUDES LAND, BUILDING, AND IMPROVEMENTS OF THE CLUB PREMISES AT 62 WASHINGTON ROAD, PRINCETON, NEW JERSEY. THE CARRYING VALUES OF THESE ASSETS ARE BASED ON THE MOST RECENT ASSESSED VALUE FOR LAND, BUILDING, AND IMPROVEMENTS, DETERMINED BY THE PRINCETON TAX ASSESSOR. ADJUSTMENTS TO THESE VALUES ARE MADE FROM TIME TO TIME, AND ARE REFLECTED IN CORRESPONDING ADJUSTMENTS TO NET ASSETS WITHOUT DONOR RESTRICTIONS - LAND, BUILDING, AND EQUIPMENT. THE LAST CHANGE TO THE ASSESSMENT OCCURRED IN THE YEAR ENDED JUNE 30, 2013. UNDER U.S. GAAP, PROPERTY AND EQUIPMENT SHOULD BE STATED AT COST. PROPERTY AND EQUIPMENT, EXCLUDING LAND, SHOULD ALSO BE DEPRECIATED OVER THE ESTIMATED USEFUL LIFE OF THE ASSET. 0 0 0 STEVE KREBS CLUB MANAGER 135125 0 0 0 0 0 0 0 42084 0 177209 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION'S MEMBERS ARE STUDENTS AT AND ALUMNI OF PRINCETON UNIVERSITY. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF GOVERNORS IS A SELF-SELECTING BOARD THAT RECRUITS NEW BOARD MEMBERS THROUGH THE GOVERNANCE COMMITTEE AND APPROVES THROUGH A MAJORITY VOTE OF THE BOARD OF GOVERNORS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS APPROVED BY THE BOARD BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C BOARD OF TRUSTEE MEMBERS REVIEW AND ACKNOWLEDGE THE CONFLICT OF INTEREST POLICY ANNUALLY. ANY CONFLICTS ARE DOCUMENTED IN THE BOARD'S MINUTES AND ACKNOWLEDGEMENT SIGNATURES ARE KEPT ON FILE BY THE CLUB INDEFINITELY. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD BENCHMARKED COMPENSATION OF THE TERRACE CLUB MANAGER AGAINST THAT FOR CLUB MANAGERS AT OTHER PRINCETON UNIVERSITY EATING CLUBS. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS NOT CHANGED ITS PROCESS FROM THE PRIOR YEAR. PRINCETON PROSPECT FOUNDATION PO BOX 15 PRINCETON NJ 085420015 226075964 TO FACILITATE THE HISTORIC PRESERVATION OF PRINCETON EATING CLUBS NJ 501(C)(3) 509(A)(2) N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0