Since its inception, the 640 Heritage Preservation Foundation has enjoyed strong financial support from the Metropolitan Club community. Beginning with a Stewardship Campaign in 2004, the Foundation raised a portion of the funds needed for essential seismic and life safety work at the Club’s historic 640 Sutter Street Building. The construction project was also funded by a loan from First Republic Bank. Following the Stewardship Campaign, the Foundation has continued to raise funds through a combination of special events, tribute gifts from donors, and annual appeals. In accordance with its mission, the Foundation Board has approved the granting of funds to the Metropolitan Club each year to assist in paying down the principal portion of the construction loan relating to the initial seismic strengthening and safety improvements. As of December 31, 2014, the Foundation had provided approximately $6.49 million in grants to the Club for this purpose. (See financial history below.)
The most recent fiscal year 2015 was a continuation of this successful fundraising history. Club members, along with a wider community of donors, demonstrated their extraordinary generosity in a variety of ways, both large and small. The Saks Fifth Avenue Fashion show brought not only community awareness, but was a fund raiser for the Foundation. In November, the Centennial Gala celebrating the first 100 years of our existence was the highlight of the year. The Gala was a tremendous success. The outpouring of support from the 121 sponsors was much more than anticipated. Between the Fashion Show and the Centennial Gala, the Foundation was able to grant to the Metropolitan Club $300,000 for the sole purpose of loan repayment.
As of the close of 2015, the Foundation has provided a total of $6.79 million loan repayment. Building on the momentum of the past several years, the Foundation continues to plan fundraising activities to support and further its mission. All financial statements for the Foundation may be accessed in the Foundation offices on the third floor of the Metropolitan Club building.
Financial History – Grants to Metropolitan Club
Since its inception, the Foundation is pleased to have granted $6,793,713 to the Metropolitan Club.
The Foundation’s 990 forms from 2015, 2014 and 2013, as well as completed financial reviews from 2014 and 2013 are available to view in the 640 Heritage Preservation Foundation office located at 640 Sutter Street.