Its stated purpose is "to further the study of philately, promote the hobby and provide a social, educational, and non-commercial setting for the enthusiastic enjoyment of our common passion".

[1] In its building at 22 East 35th Street in Manhattan, the club maintains a philatelic library of approximately 150,000 volumes which are available for research or study by scholars, historians, and philatelists.

[3] The club is located in a five-story brownstone at 22 East 35th Street between Madison and Park Avenues in the Murray Hill neighborhood of Manhattan, New York City.

The architecture is a combination of Colonial Revival style with medieval-inspired windows which recall those of Richard Norman Shaw, the avant-garde British architect of the late 19th century.

Prominent stamp collectors named as honorary members include Franklin D. Roosevelt and the 26th Earl of Crawford.