Harvard’s eight all-male final clubs are notoriously secretive about their operations. But thankfully, the city of Cambridge, the Commonwealth of Massachusetts, and the federal tax code pose a limit on just how much the clubs can hide from public view. Cambridge makes publicly available the assessed value of all properties within the city, meaning that we can find out the value of the clubs’ huge buildings in the square (The Crimson previously compiled a list of the clubhouses’ values last year; the numbers have since been updated, and those in this post are more recent).
Massachusetts requires all corporations to submit paperwork listing the membership of their corporate boards; that means that, with the exception of the Delphic, the membership of the clubs’ powerful alumni “grad boards” is public, as is, in the case of the Porcellian and Spee, their undergraduate leadership. And because every club but the Phoenix-SK and the Porcellian is organized as a nonprofit for federal tax purposes, their federal tax filings — which list their yearly revenues (and the sources of those revenues), their expenditure levels, their asset holdings, and so forth — are publicly available too. There are some caveats to this (the Fly lost its tax-exempt status this year, and the Delphic appears to only use its nonprofit for limited purposes) but one can generally get a sense of the clubs’ finances from the forms.
Here are the highlights from all three sources, by club:
A.D.
Clubhouse price: $3,742,700
Grad board (as of April 7, 2011):
President – Kenneth Gilbert Bartels
Treasurer – Oscar Kelley Anderson III
Clerk – Benjamin William Hall
Vice President – E. Anthony McAuliffe
Director – Elisha Flagg Lee
Director – Andres Alberto Vivas
Director – Roy M. Roberts
Director – Joseph McGheein
Director – Stephen Mead Jr.
Director – Scott D. Malkin
Director – William N. Thorndike
Director – Christopher A. Heckscher
Director – Lowell Thomas
Director – Barry R. Sloane
Revenue (from August 1, 2006 to July 31, 2007): $180,198
Membership fees: $33,511
Rental income: $59,977
“Restaurant sales”: $59,998
Dividends and interest on investments: $24,869
Other: $1,843
Expenditures: $529,032
Federal excise tax: $269,793
Employee compensation: $115,422
Insurance: $23,242
Food and beverages: $22,963
Restaurant operations: $13,599
Punching: $9,876
Investment advisory: $6,294
Foreign taxes paid: $141
Assets: $1,726,829
Land/buildings and capital surplus: $1,360,683
Capital funds: $390,542
Other: -$24,396
Delphic
Clubhouse price: $1,964,200
Grad board: No information available.
Revenue (from August 1, 2009 to July 31, 2010): $125,575
Investments: $103,103
Expenditures: $110,851
Real-estate taxes: $32,127
Investment-related: $25,178
Water/sewer charges: $21,979
Insurance: $16,620
Assets: $799,777
Land/buildings: $556,059
Securities: $223,777
Other savings: $16,216
Fly
Clubhouse price: $2,239,900
Grad board (as of August 23, 2011):
President – John L. Powers
Vice President – Mitchell L. Dong
Treasurer – John R. Bryant III
Secretary – David R. Morse
Directors:
Charles D. Atkinson III
John R. Bryant III
Mitchell L. Dong
Charles J. Egan, Jr.
Dale Aubrey Jenkins
David H. Morse
Todd C. Ostrow
Jason Perri
Richard Porteous
Joel S. Post
John L. Powers
Eric E. Vogt
William S. Youngman
Tax status: The Fly had its tax-exempt status revoked by the IRS this year. Its last filing is from 1998, and can be accessed here.
Fox
Clubhouse price: $1,573,600
Grad board (as of May 23, 2011):
President – Douglas W. Sears
Treasurer – Griffin Schroeder
Secretary – Matthew Kishlansky
Directors – Sears, Schroeder, Kishlansky
Property managers – Sears, Schoeder, Kishlansky
Revenue (from August 1, 2009 to July 31, 2010): $100,696
Membership fees – $95,142
Expenditures: $101,046
Events – $74,600
Dinners – $8,334
Assets (all in cash): $14,070
Owl
Clubhouse price: $1,822,000
Grad board (as of December 17, 2007):
President – Ian H. Santoro
Treasurer – Todd F. Bourell
Clerk – Shawn A. Hayden
Director – John W. Boynton
Director – Gordon L. Freeman Jr.
Director – Shawn A. Hayden
Leaders of “Owl Club Capital Management Inc.” (as of February 4, 2009):
President – Michael C. Kempner
Treasurer – Todd F. Bourell
Clerk – Todd F. Bourell
Assistant Clerk / Vice President – John Crocker
Director – Michael C. Kempner
Director – John Crocker
Director – Todd F. Bourell
Director – Richard F. Conway
Director – Kim Davis
Director – Robert J. Berry
Director – Daniel Stern
Revenue (for year of 2009): $348,416
Membership dues: $288,183
Other contributions: $30,159
Rental income: $26,508
Expenditures: $312,854
Employee compensation: $99,975
Food & beverage costs: $26,509
Event costs: $20,963
Assets: $327,251
Land/buildings: $150,852
Cash: $46,482
Accounts receivable: $121,031
Phoenix-SK
Clubhouse price: $1,275,100
Grad board (as of March 15, 2009):
President – Andrew S. Birsh
Treasurer – George R. Sprague
Clerk – Daryk Pengelly
Director – B. Devereux Barker III
Revenue/Expenditures: Phoenix-SK is organized as a corporation, and not subject to nonprofit disclosure rules; therefore, we can’t access their revenue/expenditure information.
Porcellian
Clubhouse price: $3,092,800
President (Grand Marshal) – Alexander Tilt
Honorary Librarian – Robert M. Pennoyer II
Honorary Treasurer - Heberden W. Ryan
Secretary (Honorary Secretary) – Peter C. Erichsen
Undergraduate leadership (as of February 14, 2011):
Deputy Marshal – Mark A. Pacult
Librarian – George E. Toothman
Treasurer – Alexander C. Auerbach
Corresponding and Recording Secretary – Michael R. Polino
Directors:
Arthur C. Hodges
H. Phipps Hoffstot
William A. Nitze
Alexander Tilt
Robert M. Pennoyer II
Heberden W. Ryan
Revenue/Expenditures: Like Phoenix-SK, the Porcellian is incorporated (as Porcellian Club Inc.) and not subject to nonprofit disclosure rules.
Spee
Clubhouse price: $1,604,200
Undergraduate leaders (as of March 3, 2011):
President – Alexander R. Gerson
Treasurer – Nicholas D. Cuse
Clerk – Matteo D. Zevi
Assistant Clerk – Frederick C. Childs
Director: Alexander R. Gerson
Grad board (as of November 9, 2010):
Graduate President – Arthur C. Anton, Jr.
Graduate Treasurer – Frederick C. Childs
Graduate Clerk – Mark S. Hruby
Revenue (from January 1, 2010 to June 30, 2010; note that unlike other clubs, this covers six months, rather than a year): $127,101
Membership dues: $88,610
Contributions: $27,237
“Program service revenue”: $11,254
Expenditures: $135,331
Employee compensation: $65,281
Cost of restaurant: $35,205
Assets: -$28,767
“Furniture and fixtures”: $28,203




