Program areas at The Boathouse Benevolent Society
The Boathouse Benevolent Society, Inc. (The "Society") was created to benefit The university of Tennessee system, with special emphasis on The women's athletic department. More specifically, The Society will construct a three-story Boathouse on property leased to it by The university of Tennessee (The "university") for The purpose of housing The university women's crew team on The first two floors of The facility. After an up-front lease payment, The Society will lease these two floors to The university athletic department for a nominal lease payment. The third floor of The building will be leased to an unrelated party to operate a restaurant under a net lease arrangement. Substantially all of The net proceeds from The lease will be contributed to The university system to enhance, promote and stimulate education and athletic development within The system. The university athletic department has committed to pay $1.5 million to The Society as an up-front payment for a 25-year lease for The first two floors of The facility.in addition, The Society will operate an unincorporated association known as The "The riverclub at The Boathouse" (The "riverclub"). Up to 56 members of The riverclub will make an initial contribution of $20,000 for a lifetime membership. The benefit of such membership is a guaranteed table for four at The restaurant at any time during The year with an advance notice requirement.the third source of revenue will be from The lease of The third floor of The facility to The unrelated entity to operate a restaurant. This lease will be a triple net lease with estimated rental payments to The Society of $80,000 annually.this organization's purpose is to benefit The university of Tennessee, with special emphasis on The women's' athletic department. This purpose was accomplished through The completion of The construction of The Boathouse. The first two floors of The building are utilized solely by The university of Tennessee's women's crew team. The third floor of this building is leased to an operating restaurant. Currently The rental proceeds are being used to service debt.
Personnel at The Boathouse Benevolent Society
Name | Title | Compensation | Date of data |
---|
Ellen Oblow | Treasurer and Director | $0 | 2017-07-26 |
H Peter Claussen | President and Chair | $0 | 2016-06-30 |
Robert F Worthington | Secretary and Director | $0 | 2016-06-30 |
Financials for The Boathouse Benevolent Society
Revenues | FYE 06/2016 | FYE 06/2015 | % Change |
---|
Total grants, contributions, etc. | $0 | $0 | - |
Program services | $209,135 | $110,721 | 88.9% |
Investment income and dividends | $7 | $23 | -69.6% |
Tax-exempt bond proceeds | $0 | $0 | - |
Royalty revenue | $0 | $0 | - |
Net rental income | $0 | $0 | - |
Net gain from sale of non-inventory assets | $0 | $0 | - |
Net income from fundraising events | $0 | $0 | - |
Net income from gaming activities | $0 | $0 | - |
Net income from sales of inventory | $0 | $0 | - |
Miscellaneous revenues | $0 | $0 | - |
Total revenues | $209,142 | $110,744 | 88.9% |
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Data update history
July 26, 2017
Posted financials
Added Form 990 for fiscal year 2016
Nonprofit Types
Civic / social organizationsSports organizations
Issues
EducationHuman services
Characteristics
State / local levelNo full-time employeesTerminated
General information
- Address
- 422 W Cumberland Ave
- Knoxville, TN 37901
- Metro area
- Knoxville, TN
- Phone
- (865) 525-9400
IRS details
- EIN
- 62-1715622
- Fiscal year end
- June
- Taxreturn type
- Form 990
- Year formed
- 1997
- Eligible to receive tax-deductible contributions (Pub 78)
- No
Categorization
- NTEE code, primary
- N00: Recreation, Sports, Leisure, Athletics: General
- NAICS code, primary
- 813410: Civic and Social Organizations
- Parent/child status
- Independent
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