TY 2011 Form 990

- TIN:

Form990

Department of the Treasury
Internal Revenue Service

Return of Organization Exempt From Income Tax

Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except black lung benefit trust or private foundation)

The organization may have to use a copy of this return to satisfy state reporting requirements.

OMB No. 1545-0047

2011

Open to Public Inspection

A For the calendar year, or tax year beginning 03-01-2011 and ending 02-29-2012

BCheck if applicable: Address change Name change Initial return Terminated Amended return Application pending

CName of organization
THE UNIVERSITY CLUB

Doing Business As

Number and street (or P.O. box if mail is not delivered to street address)
ONE WEST 54TH STREET

Room/suite

City or town, state or country, and ZIP + 4
NEW YORK, NY10019

D Employer identification number

13-1429480

E Telephone number

G Gross receipts $ 55,552,448

F Name and address of principal officer:
F GERARD MCGRATH
ONE WEST 54TH STREET
NEW YORK,NY10019

Tax-exempt status: 501(c)(3) 501(c) ( 7 ) LeftBullet

(insert no.) 4947(a)(1) or 527

Website:

WWW.UNIVERSITYCLUBNY.ORG

H(a)

Is this a group return for
affiliates? Yes No

H(b)

Are all affiliates included?

Yes No

If "No," attach a list. (see instructions)

H(c)

Group exemption number MediumBullet

K Form of organization: Corporation Trust Association Other MediumBullet

L Year of formation: 1865

M State of legal domicile: NY

Part I

Summary

1	Briefly describe the organization’s mission or most significant activities: PROMOTION OF LITERATURE & ART, BY ESTABLISHING & MAINTAINING A LIBRARY READING-ROOM, & GALLERY OF ART. THE CLUB ALSO PROVIDES A CLUBHOUSE & ATHLETIC FACILITIES FOR THE USE AND ENJOYMENT OF ITS MEMBERSHIP.
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a).....	3	36
4	Number of independent voting members of the governing body (Part VI, line 1b) ....	4	36
5	Total number of individuals employed in calendar year 2011 (Part V, line 2a) ...	5	389
6	Total number of volunteers (estimate if necessary) ....	6	0
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ..	7a	5,991,023
b	Net unrelated business taxable income from Form 990-T, line 34 ..	7b	616,747

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	6,000	2,650
9	Program service revenue (Part VIII, line 2g) .........	11,152,908	11,762,763
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	748,900	1,033,109
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	16,915,688	18,872,572
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)...................	28,823,496	31,671,094
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	0	0
14	Benefits paid to or for members (Part IX, column (A), line 4).....	0	0
15	Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10)	16,884,017	17,892,782
16a	Professional fundraising fees (Part IX, column (A), line 11e).....	0	0
b	Total fundraising expenses (Part IX, column (D), line 25) 0
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24f)....	10,806,294	11,400,691
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	27,690,311	29,293,473
19	Revenue less expenses. Subtract line 18 from line 12.......	1,133,185	2,377,621
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	47,259,864	49,312,263
21	Total liabilities (Part X, line 26).............	4,487,316	5,762,242
22	Net assets or fund balances. Subtract line 21 from line 20.....	42,772,548	43,550,021

Part II

Signature Block

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.

Sign Here

	Signature of officer	Date

	Type or print name and title.

Paid preparer use only

Print/type preparer's name

Preparer's signature

Date

Check if
self-employed

PTIN

Firm's name Right pointing arrowhead image

Firm's EIN Right pointing arrowhead image

Firm's address Right pointing arrowhead image

Phone no.

May the IRS discuss this return with the preparer shown above? See instructions ......... bullet

YesNo

For Paperwork Reduction Act Notice, see the separate instructions.

Cat. No. 11282Y

Form 990 (2011)

Page 2

Part III

Statement of Program Service Accomplishments

Check if Schedule O contains a response to any question in this Part III .........

Briefly describe the organization’s mission: SEE SCHEDULE O

Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? .................... Yes No

If “Yes,” describe these new services on Schedule O.

Did the organization cease conducting, or make significant changes in how it conducts, any program services? .......................... Yes No

If “Yes,” describe these changes on Schedule O.

Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations and section 4947(a)(1) trusts are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.


4a	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )
	TAX EXEMPT CLUB ACTIVITIES

4b	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )












4c	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )












4d	Other program services (Describe in Schedule O.)
	(Expenses $ including grants of $ ) (Revenue $ )
4e	Total program service expenses$

Form 990 (2011)

Page 3

Part IV

Checklist of Required Schedules

Yes

Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If “Yes,” complete Schedule A.....................

Is the organization required to complete Schedule B, Schedule of Contributors? ........

Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If “Yes,” complete Schedule C, Part I..........

Section 501(c)(3) organizations. Did the organization engage in lobbying activities? If “Yes,” complete Schedule C,
Part II.........................

Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19? If “Yes,” complete Schedule C, Part III........................

Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If “Yes,” complete Schedule D, Part I Click to see attachment

....................

Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas or historic structures? If “Yes,” complete Schedule D, Part II Click to see attachment

...

Did the organization maintain collections of works of art, historical treasures, or other similar assets? If “Yes,” complete Schedule D, Part III Click to see attachment

....................

Did the organization report an amount in Part X, line 21; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If “Yes,”
complete Schedule D, Part IV Click to see attachment

...................

Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments? If “Yes,” complete Schedule D, Part V Click to see attachment

Yes

If the organization’s answer to any of the following questions is ‘Yes,’ then complete Schedule D, Parts VI, VII, VIII, IX, or X as applicable:

Did the organization report an amount for land, buildings, and equipment in Part X, line10? If “Yes,” complete Schedule D, Part VI. Click to see attachment

11a

Yes

Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part VII. Click to see attachment

11b

Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part VIII. Click to see attachment

11c

Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If “Yes,” complete Schedule D, Part IX. Click to see attachment

11d

Yes

Did the organization report an amount for other liabilities in Part X, line 25? If “Yes,” complete Schedule D, Part X. Click to see attachment

11e

Yes

Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If “Yes,” complete Schedule D, Part X. Click to see attachment

11f

Yes

12a

Did the organization obtain separate, independent audited financial statements for the tax year?
If “Yes,” complete Schedule D, Parts XI, XII, and XIII Click to see attachment

12a

Yes

Was the organization included in consolidated, independent audited financial statements for the tax year? If “Yes,” and if the organization answered ‘No’ to line 12a, then completing Schedule D, Parts XI, XII, and XIII is optional Click to see attachment

12b

Is the organization a school described in section 170(b)(1)(A)(ii)? If “Yes,” complete Schedule E

14a

Did the organization maintain an office, employees, or agents outside of the United States?....

14a

Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States or aggregate foreign investments valued at $100,000 or more? If “Yes,” complete Schedule F, Part I.........

14b

Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or assistance to any organization or entity located outside the U.S.? If “Yes,” complete Schedule F, Part II..

Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or assistance to individuals located outside the U.S.? If “Yes,” complete Schedule F, Part III..

Did the organization report a total of more than $15,000, of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If “Yes,” complete Schedule G, Part I

Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If “Yes,” complete Schedule G, Part II..........

Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If “Yes,” complete Schedule G, Part III...................

20a

Did the organization operate one or more hospitals? If “Yes,” complete Schedule H.....

20a

If “Yes” to line 20a, did the organization attach a copy of its audited financial statement to this return? Note. All Form 990 filers that operated one or more hospitals must attach audited financial statements.

20b

Form 990 (2011)

Page 4

Part IV

Checklist of Required Schedules (continued)

Did the organization report more than $5,000 of grants and other assistance to any government or organization in the United States on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II..

Did the organization report more than $5,000 of grants and other assistance to individuals in the United States on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III.....

Did the organization answer “Yes” to Part VII, Section A, questions 3, 4, or 5, about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If “Yes,” complete Schedule J................ Click to see attachment

Yes

24a

Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer questions 24b–24d and complete Schedule K. If “No,” go to line 25................

24a

Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...

24b

Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds?......................

24c

Did the organization act as an “on behalf of” issuer for bonds outstanding at any time during the year?...

24d

25a

Section 501(c)(3) and 501(c)(4) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If “Yes,” complete Schedule L, Part I......

25a

Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If “Yes,” complete Schedule L, Part I................

25b

Was a loan to or by a current or former officer, director, trustee, key employee, highly compensated employee, or disqualified person outstanding as of the end of the organization’s tax year? If “Yes,” complete Schedule L,
Part II.........................

Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons? If “Yes,” complete Schedule L, Part III.........

Was the organization a party to a business transaction with one of the following parties? (see Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):

A current or former officer, director, trustee, or key employee? If “Yes,” complete Schedule L, Part IV .........................

28a

A family member of a current or former officer, director, trustee, or key employee? If “Yes,”
complete Schedule L, Part IV...................

28b

An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or owner? If “Yes,” complete Schedule L, Part IV..

28c

Did the organization receive more than $25,000 in non-cash contributions? If “Yes,” complete Schedule M

Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If “Yes,” complete Schedule M............

Did the organization liquidate, terminate, or dissolve and cease operations? If “Yes,” complete Schedule N,
Part I...........................

Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If “Yes,” complete Schedule N, Part II.......................

Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If “Yes,” complete Schedule R, Part I........

Was the organization related to any tax-exempt or taxable entity? If “Yes,” complete Schedule R, Parts II, III, IV, and V, line 1.....................

35a

Did the organization have a controlled entity within the meaning of section 512(b)(13)?

35a

If ‘Yes’ to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If “Yes,” complete Schedule R, Part V, line 2...

35b

Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If “Yes,” complete Schedule R, Part V, line 2...........

Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If “Yes,” complete Schedule R, Part VI

Did the organization complete Schedule O and provide explanations in Schedule O for Part VI, lines 11 and 19? Note. All Form 990 filers are required to complete Schedule O. ............

Yes

Form 990 (2011)

Page 5

Part V

Statements Regarding Other IRS Filings and Tax Compliance

Check if Schedule O contains a response to any question in this Part V .........

Yes

Enter the number reported in Box 3 of Form 1096. Enter -0- if not applicable. .......

114

Enter the number of Forms W-2G included in line 1a. Enter -0- if not applicable.

Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................

Yes

Enter the number of employees reported on Form W-3, Transmittal of Wage and Tax Statements filed for the calendar year ending with or within the year covered by this return .....................

389

If at least one is reported on line 2a, did the organization file all required federal employment tax returns?

Note. If the sum of lines 1a and 2a is greater than 250, you may be required to e-file. (see instructions)

Yes

Did the organization have unrelated business gross income of $1,000 or more during the year?.............................

Yes

If “Yes,” has it filed a Form 990-T for this year? If “No,” provide an explanation in Schedule O.....

Yes

At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account or securities account)?.......................

If "Yes," enter the name of the foreign country: MediumBullet

See instructions for filing requirements for Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts.

Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?..

Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?

If “Yes” to line 5a or 5b, did the organization file Form 8886-T? ........

Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible?..........

If “Yes,” did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?........................

Organizations that may receive deductible contributions under section 170(c).

Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?....................

If “Yes,” did the organization notify the donor of the value of the goods or services provided?.....

Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?...........................

If “Yes,” indicate the number of Forms 8282 filed during the year ....

Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?..........................

Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?..

If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?...................

If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?...............

Sponsoring organizations maintaining donor advised funds and section 509(a)(3) supporting organizations. Did the supporting organization, or a donor advised fund maintained by a sponsoring organization, have excess business holdings at any time during the year?................

Sponsoring organizations maintaining donor advised funds.

Did the organization make any taxable distributions under section 4966?.........

Did the organization make a distribution to a donor, donor advisor, or related person?......

Section 501(c)(7) organizations. Enter:

Initiation fees and capital contributions included on Part VIII, line 12 ...

10a

2,373,563

Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities

10b

5,843,842

Section 501(c)(12) organizations. Enter:

Gross income from members or shareholders .........

11a

Gross income from other sources (Do not net amounts due or paid to other sources against amounts due or received from them) ........

11b

12a

Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?

12a

If “Yes,” enter the amount of tax-exempt interest received or accrued during the year.

12b

Section 501(c)(29) qualified nonprofit health insurance issuers.

Is the organization licensed to issue qualified health plans in more than one state?
Note. All 501(c)(29) organizations must list in Schedule O each state in which they are licensed to issue qualified health plans, the amount of reserves required by each state, and the amount of reserves the organization allocated to each state.

13a

Enter the aggregate amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans.

13b

Enter the aggregate amount of reserves on hand.

13c

14a

Did the organization receive any payments for indoor tanning services during the tax year?.....

14a

If "Yes," has it filed a Form 720 to report these payments? If “No,” provide an explanation in Schedule O..

14b

Form 990 (2011)

Page 6

Part VI

Governance, Management, and Disclosure For each “Yes” response to lines 2 through 7b below, and for a “No” response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.

Check if Schedule O contains a response to any question in this Part VI .........

Section A. Governing Body and Management

Yes

Enter the number of voting members of the governing body at the end of the tax year
If the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.

Enter the number of voting members included in line 1a, above, who are independent .................

Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................

Yes

Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? .

Did the organization make any significant changes to its governing documents since the prior Form 990 was filed?

Yes

Did the organization become aware during the year of a significant diversion of the organization’s assets? .

Did the organization have members or stockholders? ................

Yes

Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? .................

Yes

Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ............

Yes

Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:

The governing body? .........................

Yes

Each committee with authority to act on behalf of the governing body? ..........

Yes

Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If “Yes,” provide the names and addresses in Schedule O .....

Section B. Policies (This Section B requests information about policies not required by the Internal
Revenue Code.)

Yes

10a

Did the organization have local chapters, branches, or affiliates? ............

10a

If “Yes,” did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes? ....

10b

11a

Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form?

11a

Describe in Schedule O the process, if any, used by the organization to review the Form 990. .....

12a

Did the organization have a written conflict of interest policy? If “No,” go to line 13.......

12a

Yes

Were officers, directors or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ........................

12b

Yes

Did the organization regularly and consistently monitor and enforce compliance with the policy? If “Yes,” describe in Schedule O how this was done ....................

12c

Yes

Did the organization have a written whistleblower policy? ...............

Yes

Did the organization have a written document retention and destruction policy? .........

Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?

The organization’s CEO, Executive Director, or top management official ...........

15a

Yes

Other officers or key employees of the organization ................

15b

Yes

If "Yes," to line 15a or 15b, describe the process in Schedule O (see instructions).

16a

Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................

16a

If “Yes,” did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? ............

16b

Section C. Disclosure

List the States with which a copy of this Form 990 is required to be filed MediumBullet

Section 6104 requires an organization to make its Form 1023 (or 1024 if applicable), 990, and 990-T (501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply.

Own website Another's website Upon request

Describe in Schedule O whether (and if so, how), the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.

State the name, physical address, and telephone number of the person who possesses the books and records of the organization: MediumBullet

JENNIFER ZEPPIERI
THE CLUB ONE WEST 54TH STREET
NEW YORK,NY10019
(212) 247-2100

Form 990 (2011)

Page 7

Part VII

Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors

Check if Schedule O contains a response to any question in this Part VII .........

Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees

1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet

List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation, and current key employees. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

List all of the organization’s current key employees, if any. See instructions for definition of "key employee."

List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the
organization and any related organizations.

List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

List persons in the following order: individual trustees or directors; institutional trustees; officers; key employees; highest
compensated employees; and former such persons.

Check this box if neither the organization nor any related organizations compensated any current or former officer, director, or trustee.

(A) Name and Title	(B) Average hours per week (describe hours for related organizations in Schedule O)	(C) Position (do not check more than one box, unless person is both an officer and a director/trustee)		(D) Reportable compensation from the organization (W- 2/1099-MISC)	(E) Reportable compensation from related organizations (W- 2/1099-MISC)	(F) Estimated amount of other compensation from the organization and related organizations
(A) Name and Title
(1) GEORGE E PINE III PRESIDENT	10.0	X	X	0	0	0
(2) PAUL N LEITNER VICE PRESIDENT	10.0	X	X	0	0	0
(3) JEFFREY BLISS VICE PRESIDENT	10.0	X	X	0	0	0
(4) RICHARD E HAHN SECRETARY	10.0	X	X	0	0	0
(5) F GERARD MCGRATH TREASURER	10.0	X	X	0	0	0
(6) JAMES J KILLERLANE III ASSISTANT SECRETARY	10.0	X	X	0	0	0
(7) JOHN R GIBNEY JR ASSISTANT TREASURER	10.0	X	X	0	0	0
(8) DENIS ANDREUZZI COUNCIL MEMBER	2.0	X		0	0	0
(9) JOHN C CANONI COUNCIL MEMBER	2.0	X		0	0	0
(10) JAMES V ASH COUNCIL MEMBER	2.0	X		0	0	0
(11) ELLEN C AUWARTER COUNCIL MEMBER	2.0	X		0	0	0
(12) JASON R GETTINGER COUNCIL MEMBER	2.0	X		0	0	0
(13) CHRISTOPHER KRANTZ COUNCIL MEMBER	2.0	X		0	0	0
(14) PETER R LASUSA JR COUNCIL MEMBER	2.0	X		0	0	0
(15) ARABELLA C MEYER COUNCIL MEMBER	2.0	X		0	0	0
(16) LEE M FULLER JR COUNCIL MEMBER	2.0	X		0	0	0
(17) MARK P ZIMMETT COUNCIL MEMBER	2.0	X		0	0	0

Form 990 (2011)

Page 8

Part VII

Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)

(A) Name and Title	(B) Average hours per week (describe hours for related organizations in Schedule O)	(C) Position (do not check more than one box, unless person is both an officer and a director/trustee)			(D) Reportable compensation from the organization (W- 2/1099-MISC)	(E) Reportable compensation from related organizations (W- 2/1099-MISC)	(F) Estimated amount of other compensation from the organization and related organizations
(A) Name and Title
(18) MARTIN L BUDD COUNCIL MEMBER	2.0	X			0	0	0
(19) JAMES B GRASS COUNCIL MEMBER	2.0	X			0	0	0
(20) COURTNEY DUR HARDART COUNCIL MEMBER	2.0	X			0	0	0
(21) THOMAS J O'HALLORAN COUNCIL MEMBER	2.0	X			0	0	0
(22) H LLOYD KANEV COUNCIL MEMBER	2.0	X			0	0	0
(23) THOMAS JA LAVIN COUNCIL MEMBER	2.0	X			0	0	0
(24) DAVID N LAWRENCE COUNCIL MEMBER	2.0	X			0	0	0
(25) JOHN M LIFTIN COUNCIL MEMBER	2.0	X			0	0	0
(26) WARREN H HABER COUNCIL MEMBER	2.0	X			0	0	0
(27) JOHN A NIELSEN COUNCIL MEMBER	2.0	X			0	0	0
(28) RODES M PONZER COUNCIL MEMBER	2.0	X			0	0	0
(29) OWEN KING COUNCIL MEMBER	2.0	X			0	0	0
(30) PERCY PRESTON COUNCIL MEMBER	2.0	X			0	0	0
(31) MITCHELL S ROSENTHAL COUNCIL MEMBER	2.0	X			0	0	0
(32) MICHAEL PRESSER COUNCIL MEMBER	2.0	X			0	0	0
(33) OSCAR S SCHAFER COUNCIL MEMBER	2.0	X			0	0	0
(34) SCOTT FULLER COUNCIL MEMBER	2.0	X			0	0	0
(35) F JEFF STANLEY IV COUNCIL MEMBER	2.0	X			0	0	0
(36) GEOFFREY A THOMPSON COUNCIL MEMBER	2.0	X			0	0	0
(37) JOHN P DORMAN GENERAL MANAGER	40.0		X		468,297	0	136,588
(38) ROBERT BAGLI EXECUTIVE CHEF	40.0			X	170,838	0	8,889
(39) DAMIEN MUDGE SQUASH PROFESSIONAL	40.0			X	145,363	0	19,470
(40) JOHN GRIECO FOOD & BEVERAGE DIRECTOR	40.0			X	166,340	0	34,276
(41) JENNIFER ZEPPIERI COMPTROLLER	40.0			X	154,741	0	36,249
(42) ZAHIR AHMED BANQUET MANAGER	40.0			X	142,552	0	23,397

1b	Sub-Total................
c	Total from continuation sheets to Part VII, Section A....
d	Total (add lines 1b and 1c)............	1,248,131	0	258,869

Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organization MediumBullet

Yes

Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If “Yes,” complete Schedule J for such individual .............

For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If “Yes,” complete Schedule J for such individual...........................

Yes

Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If “Yes,” complete Schedule J for such person .....

Section B. Independent Contractors

Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization’s tax year.

(A) Name and business address	(B) Description of services	(C) Compensation
PETER GISOLFI ASSOCIATES 566 WARBURTON AVENUE HASTINGS ON HUDSON,NY10706	ARCHITECT	236,202
GORTON PARTNERS LLC 21 WEST 38TH STREET 6TH FLOOR NEW YORK,NY10018	CAPITAL CONSULTANTS	184,636
WELTMANN LIGHTING LLC 76 N BROADWAY SUITE 301 HICKSVILLE,NY11801	CONTRACTOR	218,554
MILLER MECHANICAL SYSTEMS 217 FORDHAM STREET BRONX,NY10464	CONTRACTOR	195,180
WINSTON STRAWN LLP 36235 TREASURY CENTER CHICAGO,IL60694	LEGAL SERVICES	172,031
2 Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 8

Form 990 (2011)

Page 9

Part VIII

Statement of Revenue

				(A) Total revenue	(B) Related or exempt function revenue	(C) Unrelated business revenue	(D) Revenue excluded from tax under sections 512, 513, or 514
1a	Federated campaigns..1a
b	Membership dues....1b
c	Fundraising events....1c
d	Related organizations...1d
e	Government grants (contributions)1e

f	All other contributions, gifts, grants, and similar amounts not included above1f		2,650
g	Noncash contributions included in lines 1a-1f:$
h	Total. Add lines 1a-1f.......			2,650
			Business Code
2a	MEMBERSHIP DUES			9,389,200	9,389,200
b	CAPITAL ASSESSMENT			1,201,563	1,201,563
c	ENTRANCE FEES			1,172,000	1,172,000
d
e
f	All other program service revenue .
g	Total. Add lines 2a–2f........			11,762,763
3	Investment income (including dividends, interest
	and other similar amounts).....			476,221		468,417	7,804
4	Income from investment of tax-exempt bond proceeds..			0
5	Royalties............			0
		(i) Real	(ii) Personal
6a	Gross rents
b	Less: rental expenses
c	Rental income or (loss)
d	Net rental income or (loss).......
		(i) Securities	(ii) Other
7a	Gross amount from sales of assets other than inventory	21,346,647
b	Less: cost or other basis and sales expenses	20,801,525
c	Gain or (loss)	545,122	11,766
d	Net gain or (loss)..........			556,888		556,888
8a	Gross income from fundraising events (not including $ of contributions reported on line 1c). See Part IV, line 18 ...
	a
b	Less: direct expenses ...b
c	Net income or (loss) from fundraising events..			0
9a	Gross income from gaming activities. See Part IV, line 19 ...
	a
b	Less: direct expenses ...b
c	Net income or (loss) from gaming activities...			0
10a	Gross sales of inventory, less returns and allowances .
	a		21,949,734
b	Less: cost of goods sold ..b		3,079,829
c	Net income or (loss) from sales of inventory..			18,869,905	13,906,854	4,963,051
Miscellaneous Revenue			Business Code
11a	PARTNERSHIP INCOME			2,667		2,667
b
c
d	All other revenue ....
e	Total. Add lines 11a–11d ......			2,667
12	Total revenue. See Instructions....			31,671,094	25,669,617	5,991,023	7,804

Form 990 (2011)

Page 10

Part IX

Statement of Functional Expenses

Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A) but are not required to complete columns (B), (C), and (D).
Check if Schedule O contains a response to any question in this Part IX. .........

Do not include amounts reported on lines 6b, 7b, 8b, 9b, and 10b of Part VIII.		(A) Total expenses
1	Grants and other assistance to governments and organizations in the United States. See Part IV, line 21	0
2	Grants and other assistance to individuals in the United States. See Part IV, line 22	0
3	Grants and other assistance to governments, organizations, and individuals outside the United States. See Part IV, lines 15 and 16	0
4	Benefits paid to or for members	0
5	Compensation of current officers, directors, trustees, and key employees ....	604,885
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) ....	0
7	Other salaries and wages	11,653,515
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....	1,036,952
9	Other employee benefits .......	3,368,100
10	Payroll taxes ...........	1,229,330
11	Fees for services (non-employees):
a	Management ......	0
b	Legal .........	177,340
c	Accounting ...........	49,294
d	Lobbying ...........	0
e	Professional fundraising. See Part IV, line 17..	0
f	Investment management fees ......	100,259
g	Other ..........	164,242
12	Advertising and promotion ....	0
13	Office expenses .......	1,829,469
14	Information technology ......	60,192
15	Royalties ..	0
16	Occupancy ...........	2,956,442
17	Travel ............	0
18	Payments of travel or entertainment expenses for any federal, state, or local public officials ......	0
19	Conferences, conventions, and meetings ....	20,724
20	Interest ...........	14,339
21	Payments to affiliates .......	0
22	Depreciation, depletion, and amortization .....	2,552,503
23	Insurance ..............	438,729
24	Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24f. If line 24f amount exceeds 10% of line 25, column (A) amount, list line 24f expenses on Schedule O.)
a	UNRELATED BUS. INCOME TAX	246,534
b	FOOD & BEVERAGE OPERATIONS	850,611
c	ROOM OPERATIONS	280,843
d	CLUBHOUSE OPERATIONS	1,002,686
e
f	All other expenses	656,484
25	Total functional expenses. Add lines 1 through 24f	29,293,473
26	Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).

Form 990 (2011)

Page 11


				(A) Beginning of year		(B) End of year
1	Cashnon-interest-bearing ..........			29,347	1	29,836
2	Savings and temporary cash investments .......			489,358	2	426,864
3	Pledges and grants receivable, net .........			0	3	0
4	Accounts receivable, net .........			1,954,818	4	2,151,057
5	Receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of
	Schedule L ..........			0	5	0
6	Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B). Complete Part II of
	Schedule L ..........			0	6	0
7	Notes and loans receivable, net .............			0	7	0
8	Inventories for sale or use ..............			1,153,858	8	1,338,680
9	Prepaid expenses and deferred charges ............			976,525	9	954,789
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	63,282,880
b	Less: accumulated depreciation. .....	10b	40,609,236	20,327,721	10c	22,673,644
11	Investments—publicly traded securities ..........			18,749,452	11	19,612,973
12	Investments—other securities. See Part IV, line 11 ......			0	12	0
13	Investments—program-related. See Part IV, line 11 ..			0	13	0
14	Intangible assets .........			0	14	0
15	Other assets. See Part IV, line 11 ...........			3,578,785	15	2,124,420
16	Total assets. Add lines 1 through 15 (must equal line 34)...			47,259,864	16	49,312,263
17	Accounts payable and accrued expenses .			2,619,638	17	3,780,133
18	Grants payable ..........			0	18	0
19	Deferred revenue ..........			0	19	0
20	Tax-exempt bond liabilities ..........			0	20	0
21	Escrow or custodial account liability. Complete Part IV of Schedule D..			0	21	0
22	Payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified
	persons. Complete Part II of Schedule L..........			0	22	0
23	Secured mortgages and notes payable to unrelated third parties ..			0	23	0
24	Unsecured notes and loans payable to unrelated third parties ....			0	24	0
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D.....			1,867,678	25	1,982,109
26	Total liabilities. Add lines 17 through 25.....			4,487,316	26	5,762,242
	Organizations that follow SFAS 117, check here and complete lines 27 through 29, and lines 33 and 34.
27	Unrestricted net assets .....			41,080,910	27	41,878,124
28	Temporarily restricted net assets .....			1,448,861	28	1,426,470
29	Permanently restricted net assets .....			242,777	29	245,427
	Organizations that do not follow SFAS 117, check here and complete lines 30 through 34.
30	Capital stock or trust principal, or current funds .....				30
31	Paid-in or capital surplus, or land, building or equipment fund .....				31
32	Retained earnings, endowment, accumulated income, or other funds				32
33	Total net assets or fund balances .....			42,772,548	33	43,550,021
34	Total liabilities and net assets/fund balances .....			47,259,864	34	49,312,263

Form 990 (2011)

Page 12

Part XI

Reconcilliation of Net Assets

Check if Schedule O contains a response to any question in this Part XI .........

Total revenue (must equal Part VIII, column (A), line 12) ...

31,671,094

Total expenses (must equal Part IX, column (A), line 25) ....

29,293,473

Revenue less expenses. Subtract line 2 from line 1 ...

2,377,621

Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) ..

42,772,548

Other changes in net assets or fund balances (explain in Schedule O) ...

-1,600,148

Net assets or fund balances at end of year. Combine lines 3, 4, and 5 (must equal Part X, line 33, column (B)) ....

43,550,021

Part XII

Financial Statements and Reporting

Check if Schedule O contains a response to any question in this Part XII .........

Yes

Accounting method used to prepare the Form 990: Cash Accrual Other
If the organization changed its method of accounting from a prior year or checked "Other," explain in
Schedule O.

Were the organization’s financial statements compiled or reviewed by an independent accountant?....

Were the organization’s financial statements audited by an independent accountant?........

Yes

If “Yes,” to 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant? If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O. ...........................

Yes

If “Yes” to line 2a or 2b, check a box below to indicate whether the financial statements for the year were issued on a separate basis, consolidated basis, or both:

Separate basis Consolidated basis Both consolidated and separated basis

As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-133? ................

If “Yes,” did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits. ..

Form 990 (2011)

Additional Data

Software ID:
Software Version:

Form 990, Special Condition Description:

Special Condition Description

- TIN:

SCHEDULE D
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Financial Statements

Complete if the organization answered "Yes," to Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b
SchDMd Bullet

Attach to Form 990. SchDMd Bullet

See separate instructions.

OMB No. 1545-0047

2011

Open to Public Inspection

Name of the organization

THE UNIVERSITY CLUB

Employer identification number

13-1429480

Part I

Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" to Form 990, Part IV, line 6.

		(a) Donor advised funds	(b) Funds and other accounts
1	Total number at end of year .......
2	Aggregate contributions to (during year) ...
3	Aggregate grants from (during year) ...
4	Aggregate value at end of year .......

Did the organization inform all donors and donor advisors in writing that the assets held in donor advised
funds are the organization's property, subject to the organization's exclusive legal control? ............

Yes No

Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be
used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................

Yes No

Part II

Conservation Easements. Complete if the organization answered "Yes" to Form 990, Part IV, line 7.

Purpose(s) of conservation easements held by the organization (check all that apply).

Preservation of land for public use (e.g., recreation or education) Preservation of an historically important land area

Protection of natural habitat Preservation of a certified historic structure

Preservation of open space

Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.


a	Total number of conservation easements .......................	2a
b	Total acreage restricted by conservation easements ..................	2b
c	Number of conservation easements on a certified historic structure included in (a) .....	2c
d	Number of conservation easements included in (c) acquired after 8/17/06, and not on a historic structure listed in the National Register ....................	2d

Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during
the tax year SchDMd Bullet

Number of states where property subject to conservation easement is located SchDMd Bullet

Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and
enforcement of the conservation easements it holds? .............................

Yes No

Staff and volunteer hours devoted to monitoring, inspecting and enforcing conservation easements during the year SchDMd Bullet

Amount of expenses incurred in monitoring, inspecting, and enforcing conservation easements during the year
SchDMd Bullet

Does each conservation easement reported on line 2(d) above satisfy the requirements of section
170(h)(4)(B)(i) and 170(h)(4)(B)(ii)? ....................................

Yes No

In Part XIV, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" to Form 990, Part IV, line 8.

If the organization elected, as permitted under SFAS 116 (ASC 958), not to report in its revenue statement and balance sheet works of
art, historical treasures, or other similar assets held for public exhibition, education or research in furtherance of public service,
provide, in Part XIV, the text of the footnote to its financial statements that describes these items.

If the organization elected, as permitted under SFAS 116 (ASC 958), to report in its revenue statement and balance sheet works of art,
historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service,
provide the following amounts relating to these items:

(i)

Revenues included in Form 990, Part VIII, line 1 ........................ SchDMd Bullet

(ii)

Assets included in Form 990, Part X .............................. SchDMd Bullet

If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under SFAS 116 (ASC 958), relating to these items:

Revenues included in Form 990, Part VIII, line 1 .......................... SchDMd Bullet

Assets included in Form 990, Part X ............................... SchDMd Bullet

For Privacy Act and Paperwork Reduction Act Notice, see the Intructions for Form 990

Cat. No. 52283D

Schedule D (Form 990) 2011

Page 2

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)

Using the organization’s accession and other records, check any of the following that are a significant use of its collection
items (check all that apply):

Public exhibition

Loan or exchange programs

Scholarly research

Other

Preservation for future generations

Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIV.

During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?........

Yes No

Part IV

Escrow and Custodial Arrangements. Complete if the organization answered "Yes" to Form 990,
Part IV, line 9, or reported an amount on Form 990, Part X, line 21.

Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................

Yes No

If "Yes," explain the arrangement in Part XIV and complete the following table:


c	Beginning balance .................................	1c
d	Additions during the year ..............................	1d
e	Distributions during the year .............................	1e
f	Ending balance ...................................	1f

Did the organization include an amount on Form 990, Part X, line 21? .....................

Yes No

If “Yes,” explain the arrangement in Part XIV.

Part V

Endowment Funds. Complete if the organization answered "Yes" to Form 990, Part IV, line 10.

		(a)Current Year	(b)Prior Year	(c)Two Years Back	(d)Three Years Back
1a	Beginning of year balance ....	1,691,638	1,467,840	1,108,559	1,413,230
b	Contributions ........	705,040	684,076	662,392	651,524
c	Net investment earnings, gains, and losses ...	21,255	236,098	358,876	-347,016
d	Grants or scholarships .....
e	Other expenditures for facilities and programs ........	746,036	696,376	661,987	609,179
f	Administrative expenses ....
g	End of year balance ......	1,671,897	1,691,638	1,467,840	1,108,559

Provide the estimated percentage of the year end balance (line 1g) held as:

Board designated or quasi-endowment SchDMd Bullet

Permanent endowment SchDMd Bullet

14.680 %

Temporarily restricted endowment SchDMd Bullet

85.320 %

The percentages in lines 2a, 2b, and 2c should equal 100%.

Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes

(i) unrelated organizations ........................

3a(i)

(ii) related organizations ........................

3a(ii)

If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? .........

Describe in Part XIV the intended uses of the organization's endowment funds.

Part VI

Land, Buildings, and Equipment. See Form 990, Part X, line 10.

Description of property		(b)Cost or other basis (other)	(c) Accumulated depreciation	(d) Book value
1a	Land .................	805,000		805,000
b	Buildings ................	47,642,068	30,966,053	16,676,015
c	Leasehold improvements ............
d	Equipment ................	14,693,416	9,643,183	5,050,233
e	Other .................	142,396		142,396
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).).......				22,673,644

Schedule D (Form 990) 2011

Page 3

Part VII

InvestmentsOther Securities. See Form 990, Part X, line 12.

(a) Description of security or category (including name of security)		(b)Book value	(c) Method of valuation: Cost or end-of-year market value
(1)Financial derivatives
(2)Closely-held equity interests
Other








Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)

Part VIII

InvestmentsProgram Related. See Form 990, Part X, line 13.

(a) Description of investment type		(b) Book value	(c) Method of valuation: Cost or end-of-year market value









Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)

Part IX

Other Assets. See Form 990, Part X, line 15.

(a) Description				(b) Book value









Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........

Part X

Other Liabilities. See Form 990, Part X, line 25.

1.(a) Description of Liability		(b) Book value
Federal Income Taxes		0
TAXES PAYABLE		273,384
UNEARNED INCOME		606,267
DEFERRED LIFE MEMBERSHIP		678,529
DEFERRED COMPENSATION PLAN		163,929
DEFERRED INCOME TAX LIABILITY		260,000




Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)		1,982,109
2. Fin 48 (ASC 740) Footnote. In Part XIV, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC740).

Schedule D (Form 990) 2011

Page 4

Part XI Reconciliation of Change in Net Assets from Form 990 to Financial Statements
1	Total revenue (Form 990, Part VIII, column (A), line 12) ....................	1	31,671,094
2	Total expenses (Form 990, Part IX, column (A), line 25) .....................	2	29,293,473
3	Excess or (deficit) for the year. Subtract line 2 from line 1 .............	3	2,377,621
4	Net unrealized gains (losses) on investments ..........................	4	-442,902
5	Donated services and use of facilities .............................	5
6	Investment expenses ...................................	6
7	Prior period adjustments ..................................	7
8	Other (Describe in Part XIV.) .................................	8	-1,157,246
9	Total adjustments (net). Add lines 4 through 8 .........................	9	-1,600,148
10	Excess or (deficit) for the year per financial statements. Combine lines 3 and 9 .........	10	777,473

Part XII Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
1	Total revenue, gains, and other support per audited financial statements .......			1	34,404,290
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains on investments ..........	2a
b	Donated services and use of facilities .........	2b
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIV.) ............	2d	3,079,829
e	Add lines 2a through 2d .....................			2e	3,079,829
3	Subtract line 2e from line 1.....................			3	31,324,461
4	Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b .	4a
b	Other (Describe in Part XIV.) ...........	4b	346,633
c	Add lines 4a and 4b.......................			4c	346,633
5	Total Revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......			5	31,671,094

Part XIII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
1	Total expenses and losses per audited financial statements .............			1	33,626,817
2	Amounts included on line 1 but not on Form 990, Part IX, line 25:
a	Donated services and use of facilities ..........	2a
b	Prior year adjustments ..............	2b
c	Other losses ................	2c
d	Other (Describe in Part XIV.) ............	2d	4,663,772
e	Add lines 2a through 2d......................			2e	4,663,772
3	Subtract line 2e from line 1.....................			3	28,963,045
4	Amounts included on Form 990, Part IX, line 25, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b ..	4a
b	Other (Describe in Part XIV.) ............	4b	330,428
c	Add lines 4a and 4b.......................			4c	330,428
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......			5	29,293,473

Part XIV

Supplemental Information

Complete this part to provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b;
Part V, line 4; Part X; Part XI, line 8; Part XII, lines 2d and 4b; and Part XIII, lines 2d and 4b. Also complete this part to provide any additional information.

Identifier	Return Reference	Explanation
ENDOWMENT FUNDS	PART V - LINE 4	THE CLUB'S ENDOWMENT FUNDS CONSIST OF INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. THE CLUB CONSIDERS THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO APPROPRIATE OR ACCUMULATE DONOR-RESTRICTED ENDOWMENT FUNDS: 1. THE DURATION AND PRESERVATION OF THE FUNDS 2. THE PURPOSE OF THE CLUB AND THE DONOR-RESTRICTED ENDOWMENT FUNDS 3. GENERAL ECONOMIC CONDITIONS 4. THE POSSIBLE EFFECT OF INFLATION AND DEFLATION 5. THE EXPECTED TOTAL RETURN FROM INCOME AND THE APPRECIATION OF INVESTMENTS 6. OTHER RESOURCES OF THE CLUB 7. THE INVESTMENT POLICIES OF THE CLUB
OTHER LIABILITIES - LIABILITY FOR UNCERTAIN INCOME TAX POSITIONS	PART X - LINE 2	As of February 29, 2012 and February 28, 2011, no amounts were recognized for uncertain income tax positions taken during those years. In addition, the Club's tax returns for the year 2009 and forward are subject to the usual review by the appropriate taxing authorities.
RECONCILIATION OF CHANGE IN NET ASSETS	PART XI - LINE 8	PENSION ADJUSTMENT: (1,364,185.) UNRELATED BUSINESS INCOME TAX: 185,133. DEFERRED COMP. INVESTMENT LOSS: (1,453.) NET PARTNERSHIP INCOME: 23,259.
RECONCILIATION OF REVENUE	PART XII - LINES 2D & 4B	2D. COST OF GOODS SOLD: 3,079,829. 4B. GROSS UP FROM UNREALIZED LOSS NET WITH REVENUE: 223,144. 4B. GROSS UP FROM INVESTMENT ADVISORY FEES: 100,259. 4B. DEFERRED COMP. INVESTMENT LOSS: 1,453. 4B. PARTNERSHIP INCOME: 21,777.
RECONCILIATION OF EXPENSES	PART XIII - LINES 2D & 4B	2D. COST OF GOODS SOLD: 3,079,829. 2D. PENSION ADJUSTMENT: 1,364,185. 2D. UNREALIZED LOSS ON INVESTMENTS: 219,758. 4B. INVESTMENT ADVISORY FEES: 100,259. 4B. UNRELATED BUSINESS INCOME TAX: 185,133. 4B. PARTNERSHIP DEDUCTIONS: 45,036.

Schedule D (Form 990) 2011

Additional Data

Software ID:
Software Version:

- TIN:

Schedule J
(Form 990)

Department of the Treasury
Internal Revenue Service

Compensation Information

For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
SchJMediumBullet

Complete if the organization answered "Yes" to Form 990,
Part IV, question 23.
SchJMediumBullet

Attach to Form 990. SchJMediumBullet

See separate instructions.

OMB No. 1545-0047

2011

Open to Public Inspection

Name of the organization

THE UNIVERSITY CLUB

Employer identification number

13-1429480

Part I

Questions Regarding Compensation

Yes

Check the appropiate box(es) if the organization provided any of the following to or for a person listed in Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.

First-class or charter travel Housing allowance or residence for personal use

Travel for companions Payments for business use of personal residence

Tax idemnification and gross-up payments Health or social club dues or initiation fees

Discretionary spending account Personal services (e.g., maid, chauffeur, chef)

If any of the boxes in line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all the expenses described above? If "No," complete Part III to explain....

Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
officers, directors, trustees, and the CEO/Executive Director, regarding the items checked in line 1a? ....

Indicate which, if any, of the following the organization uses to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.

Compensation committee Written employment contract

Independent compensation consultant Compensation survey or study

Form 990 of other organizations Approval by the board or compensation committee

During the year, did any person listed in Form 990, Part VII, Section A, line 1a with respect to the filing organization or a related organization:

Receive a severance payment or change-of-control payment? ...............

Participate in, or receive payment from, a supplemental nonqualified retirement plan? ........

Yes

Participate in, or receive payment from, an equity-based compensation arrangement? ........

If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.

Only 501(c)(3) and 501(c)(4) organizations only must complete lines 5-9.

For persons listed in form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:

The organization? ...........................

Any related organization? .........................

If "Yes," to line 5a or 5b, describe in Part III.

For persons listed in form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:

The organization? ...........................

Any related organization? .........................

If "Yes," to line 6a or 6b, describe in Part III.

For persons listed in Form 990, Part VII, Section A, line 1a, did the organization provide any non-fixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............

Were any amounts reported in Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III .............................

If "Yes" to line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................

For Privacy Act and Paperwork Reduction Act Notice, see the Intructions for Form 990

Cat. No. 50053T

Schedule J (Form 990) 2011

Page 2

Part II

Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.

For each individual whose compensation must be reported in Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.

Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and column (E) for that individual.

(A) Name		(B) Breakdown of W-2 and/or 1099-MISC compensation			(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)	(F) Compensation reported as deferred in prior Form 990
(A) Name		(i) Base compensation	(ii) Bonus & incentive compensation	(iii) Other reportable compensation	(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)	(F) Compensation reported as deferred in prior Form 990
(1) JOHN P DORMAN	(i) (ii)	325,297 0	143,000 0	0 0	108,808 0	27,780 0	604,885 0	0 0
(2) ROBERT BAGLI	(i) (ii)	152,600 0	18,238 0	0 0	5,173 0	3,717 0	179,728 0	0 0
(3) DAMIEN MUDGE	(i) (ii)	88,483 0	12,650 0	44,230 0	11,462 0	8,008 0	164,833 0	0 0
(4) JOHN GRIECO	(i) (ii)	143,463 0	22,877 0	0 0	14,943 0	19,333 0	200,616 0	0 0
(5) JENNIFER ZEPPIERI	(i) (ii)	127,954 0	26,787 0	0 0	16,734 0	19,515 0	190,990 0	0 0
(6) ZAHIR AHMED	(i) (ii)	139,927 0	2,625 0	0 0	4,399 0	18,998 0	165,949 0	0 0

Schedule J (Form 990) 2011

Page 3

Part III

Supplemental Information

Complete this part to provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4c, 5a, 5b, 6a, 6b, 7, and 8. Also complete this part for any additional information.

Identifier	Return Reference	Explanation
COMPENSATION INFORMATION	PART I - QUESTION 4B	JOHN P. DORMAN (GENERAL MANAGER) RECEIVED NON-QUALIFIED DEFERRED COMP. OF $84,163

Schedule J (Form 990) 2011

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or to provide any additional information.
MediumBullet

Attach to Form 990 or 990-EZ.

OMB No. 1545-0047

2011

Open to Public
Inspection

Name of the organization

THE UNIVERSITY CLUB

Employer identification number

13-1429480

Identifier	Return Reference	Explanation
STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS	PART III, LINE 1	PROMOTION OF LITERATURE & ART, BY ESTABLISHING & MAINTAINING A LIBRARY READING-ROOM, & GALLERY OF ART. THE CLUB ALSO PROVIDES A CLUBHOUSE & ATHLETIC FACILITIES FOR THE USE AND ENJOYMENT OF ITS MEMBERSHIP. GOVERNANCE, MANAGEMENT, AND DISCLOSURE PART VI, SECTION A. - QUESTION 2 LEE M. FULLER, JR. (COUNCIL MEMBER) AND SCOTT FULLER (COUNCIL MEMBER) HAVE A FAMILY RELATIONSHIP. GOVERNANCE, MANAGEMENT, AND DISCLOSURE PART VI, SECTION A. - QUESTION 4 Article I: Changed "association" to "corporation" to reflect proper entity status. Article II, Section 1: Clarified that Council can elect one Vice President or two Vice Presidents, but no more than two. This is necessary to maintain the balance of power on the Executive Committee in favor of the Council members elected by the membership (four) versus the officers elected by the Council (maximum of three). Clarified Council's process of resolutions for signatures on checks, contracts and other documents to conform to current Club practice. Article II, Section 2: Provided for second Vice President, if one is elected, to preside at meetings in the absence of the President and the first Vice President. Additional language moved from Article VII, Section 5. Article II, Section 3: Revised description of Treasurer's duties and changed audit of Club accounts to "annual" from "semi-annually" to conform to current Club practice. Article II, Section 4: Revised description of Secretary's duties to conform to current Club practices and to track language of model corporate bylaws. Article II, Section 5: Eliminated potential for Assistant Secretary and Assistant Treasurer to be the same person. Article III, Section 1: Clarified that Council consists in part of the 20 members elected by the membership at the Annual Meeting, as nominated by the Members Nominating Committee. The rest of Council is identified in a new Section 2 (see below). The language regarding vacancies was changed to be consistent with similar language elsewhere in the Constitution. Article III, Section 2: Old Section 2 moved to Section 6. Old Section 4 moved to Section 2. Remaining sections renumbered accordingly. Article III, Section 3: Language regarding admissions policies in effect as of January 1981 rendered obsolete with admission of women members. Changed "charter" to "Certificate of Incorporation". Quorum provision moved to Section 5. Article III, new Section 5: Clarified that the Council members that can call for a special meeting are elected as opposed to ex officio. Added requirement that Council members receive advance written notice of Council meetings. Deleted language relating to a meeting electing a presiding officer as duplicative of Article II, Section 2. Moved quorum provision to this section on meetings. Article III, Section 7: Changed "make" to "prescribe" to be consistent with similar language elsewhere in the Constitution. Language regarding admission of non-member rules in effect as of January 1981 rendered obsolete with admission of women members. Article III, Section 9: Language regarding Council's final authority to interpret Constitution and Club rules, and to enforce same by penalty, restored from pre-1982 versions. Made express Council's power to enforce the Constitution and Club rules. Article III, Section 10: Clarified Council's authority to remove a member from Council for non-attendance. Article IV, Section 1: Changed Annual Meeting election of class and vacancies language and description of term language to be consistent with similar language elsewhere in the Constitution. Clarified that the Chair of Admissions' ex officio membership on Council does not violate the rule that Council members cannot be members of Admissions. Article IV, Section 2: Changed language regarding posting in a conspicuous place in the Club House and supervising the Younger Members' Committee to be consistent with similar language elsewhere in the Constitution. Shortened name of Younger Members Committee. Article V: Added Section numbers to the previously unnumbered paragraphs. Article V, Section 1: Clarified that Council members on the Executive Committee must come from those elected by the membership as opposed to ex officio Council members. Changed attendance of Secretary, Treasurer and House Chair from mandatory to permissive. Article V, Section 2: Clarified process of annual budget and annual five-year capital budget (which is supported by five-year budget forecast) as those budgets move through the respective committees to the Executive Committee for approval and then for presentation to Council, and clarified timing of those budgets' presentations to Council. Changed attendance of Finance and Capital Planning Chairs from mandatory to permissive. Article VI, Section 2: Changed language regarding posting in a conspicuous place in the Club House to be consistent with similar language elsewhere in the Constitution. Article VI, Section 6: Clarified that Council members on the Executive Committee must come from those elected by the membership as opposed to ex officio Council members. Article VII, Section 1: Reordered list of Standing Committees to conform to order in this Article. Shortened name of Younger Members Committee. Article VII, Section 3: Clarified that all members are eligible for election to service on Club committees. Clarified that the President's ex officio status entitles him or her to vote at the meetings of the Standing or Informal Committees. Applied to all committees the attendance expectation guidelines from Council Article (Article III, Section 10). Article VII, Section 4: Clarified duties of House Committee to conform to current Club practices. Article VII, Section 5: Increased the membership of Finance to seven from six. Clarified Finance's role in preparing the budgets and forecasts presented to the Executive Committee and, if approved, to Council each year. Article VII, Section 7: Changed attendance of President, Treasurer and House Chair from mandatory to permissive. Clarified Capital Planning's role in preparing the budgets and forecasts presented to the Executive Committee and, if approved, to Council each year. Clarified Capital Planning's role in overseeing construction projects approved by Council. Article VII, Section 8: Restored Library & Art's role in selecting and purchasing works of art for the Club. Clarified Library & Art's role in recommending to Council whether or not to accept gifts or loans of works of art. Added responsibility for overseeing Club archives to conform to current Club practice. Article VII, Section 12: Shortened name of Younger Members Committee.
GOVERNANCE, MANAGEMENT, AND DISCLOSURE (CONT.)	PART VI, SECTION A. - QUESTION 4 (CONT.)	Article VIII, Sections 1 and 2: Changed language regarding posting in a conspicuous place in the Club House to be consistent with similar language elsewhere in the Constitution. Article VIII, Section 5: Moved language to Article II, Section 2 to eliminate duplication. Article VIII, new Section 5: Changed language to conform to practice of actions taken at Annual Meeting. Article VIII, new Section 6: Restored provision prohibiting attendance at Club meetings unless invited by the President, conforms with current Club practice. Article IX, Section 1: Changed "Admission's [sic] office of the Club" to "Admissions Committee" to conform to current practice. Article X, Section 9: Old Section 9 moved to Article XI, new Section 8. Article X, Section 10: Eliminated section because issue is covered already in other provisions. Article X, new Section 9: Moved classification change section from Article XI, old Section 6. Clarified Secretary's ability to reclassify a member based on changed circumstances. Article XI, Section 1: Clarified Council's power to set entrance fees, dues, assessments and other charges for members and guests to conform to current Club practice. Article XI, new Section 2: Old Section 3. Council vote language changed to be consistent with similar language elsewhere in the Constitution. Added assessments and other charges to list proposed changes requiring advance notice to Council members and super-majority vote to approve. Remaining Sections renumbered accordingly. Article XI, new Section 3: New Section 3 added to incorporate 1940 Council resolution into Constitution. Article XI, new Section 4: New Section 4 added to incorporate 1994 Council resolution on Legacies into Constitution. Article XI, new Section 6: Former member reapplication provisions clarified and combined. Article XI, new Section 8: Moved from Article X, Section 9. Article XI, Section 9: Clarified member non-payment penalties and escalation of same to conform to current Club practice. Article XII: Added option for member to consent to receive Club notices via email. Established mailing date rules for mail or email delivery of such notices. Article XIV: Clarified Council vote necessary to suspend or expel a member, and applied same super-majority vote requirement to subsequent Council vote to revoke or modify earlier Council action. Three-fifths voting standard restored from pre-1982 versions. Article XV: Title of Article restored from pre-1982 versions. Article XVII: Two-thirds voting requirement to amend Constitution restored from pre-1982 versions. Changed language regarding posting in a conspicuous place in the Club House to be consistent with similar language elsewhere in the Constitution. Clarified that only Resident and Resident Life members receive notice of the proposed amendment or amendments. Article XVIII: Revised indemnification provision to track provisions of New York not-for-profit law giving Council discretion to deny indemnification where the person acted in bad faith or knowingly committed a crime. Authorized Council to obtain an undertaking from a person seeking indemnification. Council Resolutions: Incorporated 1940 Resolution and 1994 Resolution on Legacies into Constitution. Deleted 1982 Resolution on "sojourning" as inconsistent with current Club practice to monitor use of the Club by Non-Resident members and reclassify high-volume users as Resident members. Deleted 1994 Resolution on Expatriates because of insufficient usage/interest. inconsistent with current Club practice to monitor use of the Club by Non-Resident members and reclassify high-volume users as Resident members. Deleted 1994 Resolution on Expatriates because of insufficient usage/interest. GOVERNANCE, MANAGEMENT, AND DISCLOSURE PART VI, SECTION A. - QUESTION 6 THE UNIVERSITY CLUB WAS INCORPORATED AS A MEMBERSHIP ORGANIZATION.
GOVERNANCE, MANAGEMENT, AND DISCLOSURE	PART VI, SECTION A. - QUESTION 7A	THE MEMBERS VOTE FOR THE PARTICIPANTS OF THE MEMBER NOMINATING COMMITTEE WHO IN TURN ELECT THE EXECUTIVE AND COUNCIL MEMBERS.
GOVERNANCE, MANAGEMENT, AND DISCLOSURE	PART VI, SECTION A. - QUESTION 7B	CHANGES MADE TO THE CONSTITUTION BY THE GOVERNING BODY MUST BE APPROVED BY THE MEMBERSHIP.
GOVERNANCE, MANAGEMENT, AND DISCLOSURE	PART VI, SECTION B. - QUESTION 11B	THE FORM 990 IS REVIEWED BY THE TREASURER PRIOR TO FILING.
GOVERNANCE, MANAGEMENT, AND DISCLOSURE	PART VI, SECTION B. - QUESTION 12C	THE AUDIT COMMITTEE OVERSEES THE DISTRIBUTION AND COLLECTION OF THE CONFLICT OF INTEREST POLICY STATEMENTS. IF ANY CONFLICTS ARISE IT IS REVIEWED AND REPORTED TO THE COUNCIL.
GOVERNANCE, MANAGEMENT, AND DISCLOSURE	PART VI, SECTION b. - QUESTIONS 15A & 15B	COMPENSATION FOR OFFICERS AND KEY EMPLOYEES ARE REVIEWED BY THE CLUB'S PRESIDENT AND HOUSE COMMITTEE CHAIRMAN FOR APPROVAL.
GOVERNANCE, MANAGEMENT, AND DISCLOSURE	PART VI, SECTION C. - QUESTION 19	THE CLUB DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE GENERAL PUBLIC.
RECONCILIATION OF NET ASSETS	PART XI - LINE 5	PENSION ADJUSTMENT: -1,364,185. UNRELATED BUSINESS INCOME TAX: 185,133. NET UNREALIZED GAIN (LOSSES) ON INVESTMENTS: -442,902. DEFERRED COMP. INTEREST INCOME: -1,453. NET PARTNERSHIP INCOME: 23,259.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2011

Additional Data

Software ID:
Software Version: