A Club is a private association of individuals that have joined together to apply to Toastmasters International, have been accepted and issued a Charter, and who operate under the rules of the Club Constitution. After issuance of the Charter, the Club Membership may change from time to time. Clubs hold Meetings, take Club Votes, elect Club Officers, may collect Fees and Dues, and may in some cases suffer Suspension or Dissolution.
A Club is a separate legal entity from Toastmasters International, responsible for its own debts. The standard Club Constitution states that a Club is an unincorporated association formed solely for the purpose of privately educating its own individual members.
If a Club desires to do so, it may add some provisions from the Addendum of Standard Club Options which is at the end of the Club Constitution.
The Club is the core organizational component of Toastmasters International. Clubs existed before Districts, Divisions or Areas ever existed. Source: Speech by Daniel Rex at the Founders District District Conference, Spring 2016.
According to How to Build a Toastmasters Club (item 121), more than 1,000 Toastmasters Clubs are chartered every year around the world.