The club was founded by William K. Vanderbilt II in 1924, using part of his Deepdale summer estate at Lake Success.

The club bought the nearby Joseph Peter Grace, Sr. estate and had a new course designed by Dick Wilson.

The scandal emerged after one of the players admitted what he had done in a letter to the President of the club, and the story reached the newspapers.

[5] As a result of the scandal, the United States Golf Association formally outlawed Calcuttas.

[2] In March 2006 it was reported that the village of North Hills, an extremely wealthy community, was looking into using eminent domain laws to condemn the club and convert it to a semi-public course for use by local residents.