Harvard Varsity Club Inc

Analysis

Harvard Varsity Club Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in March 1959, 67 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Harvard Varsity Club Inc reported income of $1.7m and spending of $1.5m, spending 89% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $3.0m to $1.7m (-45%), an average of -14% a year. The sharpest change came in the year to June 2020, when income dropped by 57%. Over the whole period it spent 68% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Harvard Varsity Club Inc sits at the 81st percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within MA. Charities of a similar size with the same main cause include Paragon Academy of Technology Inc ($1.7m), Living Rock Academy ($1.7m) and Yeshivas Bais Mordechai of Teaneck Inc ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 50% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $274k (19% of expenses). Other salaries and wages came to $362k. At year end it held assets of $9.7m against liabilities of $422k, net assets of $9.3m. It reported 7 employees.