2024-11-15T09:37:53-08:00 2023-12-31 132696850 Gruber Palumberi Raffaele Fried CPAs PC 7 Penn Plaza Suite 310 New York NY 10001 990 2023-01-01 112786225 ATLANTIC AVE ASSOC LOCAL DEVELOPMENT ATLA 7188758993 494 ATLANTIC AVENUE BROOKLYN NY 11217 SHARON TAYLOR President 2024-11-15 true true BART RAFFAELE CPA P00558916 2125860800 2023 2024-10-15 13:58:12Z 494 ATLANTIC AVENUE BROOKLYN NY 11217 540968 false X atlanticave.org X 1986 NY to further economic development, historic preservation,and cultural enrichment on Atlantic Avenue, in Brooklyn, New York, from Fourth Avenue to theWaterfront and the surrounding community. 10 9 4 0 317196 375487 0 162 206 82304 80159 399662 455852 0 0 170117 172055 0 33072 207498 224317 377615 396372 22047 59480 353566 399709 211942 198605 141624 201104 to further economic development, historic preservation,and cultural enrichment on Atlantic Avenue, in Brooklyn, New York, from Fourth Avenue to theWaterfront and the surrounding community. false false 319791 ATLANTIC AVENUE PROMOTIONAL MARKETING:To raise the profile of the avenue and attract visitors, we produced another "ArtWalk" for two weeks in May, the Atlantic Antic Festival in October (one of the largest street fairs in NYC) and holiday events in November and December. Holiday events are held on different days: a tree lighting, an outdoor children's party, Saturday roving holiday music, visits from Santa and a major toy drive. These events bring more foot traffic to the avenue and generate goodwill. Temporary staff are usually young residents from the surrounding area. Merchant Crime Alert Program: The Atlantic Avenue Local Development Corporation (AALDC) provides an E-Group Crime Alert Program through Google Groups for all Atlantic Avenue Merchants and Merchants in the surrounding communities we serve. 319791 true true false false false false false false false false true false false true true true true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 13 0 false 4 true false false false false false false false 0 false false false false false false false X 10 9 false false false false false false false true true false false true true true true true true true false false NY X X ATLANTIC AVE ASSOC LCL DEV CO 7188758993 494 ATLANTIC AVE BROOKLYN NY 11217 X SUE WOLFE Vice President 5.00 0.00 X X 0 0 0 Howard Kolins Executive Dir. 32.00 0.00 X X 0 0 0 NAT RUBIN Treasurer 5.00 0.00 X X 0 0 0 SHARON TAYLOR President 5.00 0.00 X X 0 0 0 Adam Suerte Director 5.00 0.00 X 0 0 0 DARLENE C SAMUELS Director 5.00 0.00 X 0 0 0 DEBRA HARE-BEY Director 5.00 0.00 X 0 0 0 Emily Fisher Secretary 5.00 0.00 X X 0 0 0 Eileen Trilli Director 5.00 0.00 X 0 0 0 Karen Zebulon Director 5.00 0.00 X 0 0 0 0 false false false 0 375487 375487 0 206 206 0 0 165275 85116 80159 80159 80159 0 0 0 0 0 455852 80365 0 0 0 0 0 0 149003 126653 7450 14900 0 3178 2670 286 222 19874 16694 1789 1391 0 0 20058 20058 0 0 0 0 13322 13322 13 13 0 0 0 0 0 0 5146 5146 0 0 4873 4873 SPECIAL EVENTS 157152 141437 15715 AWARDS AND DONATIONS 11846 11846 SUPPLIES AND MATERIALS 3425 2910 172 343 EQUIPMENT RENTAL/LEASE 2804 2384 140 280 5678 1875 3582 221 396372 319791 43509 33072 12975 13347 104591 166547 0 0 0 0 0 0 13585 13585 557573 387648 184113 169925 0 0 0 0 38302 36305 353566 399709 122077 109145 73000 70346 16865 19114 211942 198605 X 141624 201104 141624 201104 353566 399709 59480 X false true X true false X 175757 123277 220002 160106 163988 843130 189890 2643 128462 157090 211499 689584 0 0 0 365647 125920 348464 317196 375487 1532714 0 0 1532714 231 83 142 162 206 824 0 231 83 142 162 206 824 0 0 365878 126003 348606 317358 375693 1533538 0.99950 0.99940 0.00050 0.00060 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 91404 91404 448644 370123 78521 15965 15965 1560 1560 169925 ESCROW 36305 36305 Rounding 1 TENANT SECURITY DEPOSITS 19113 19114 X 455852 455852 455852 396372 396372 396372 Part X : FIN48 Footnote The Organization accounts for income taxes in accordance with income tax accounting guidance in Financial Accounting Standards Board Accounting Standard Codification (ASC) 740, Income Taxes. The guidance for accounting standards for uncertainty in income taxes, which addresses the determination of whether tax benefits claimed or expected to be claimed on tax return should be recorded in the financial statements. Under this guidance, the Organization may recognize the tax benefit from an uncertain tax position only if it is more than likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. Examples of tax positions include the tax-exempt status of the Organization and various positions related to the potential sources of unrelated business taxable income (UBIT). The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement. There are no unrecognized tax benefits identified or recorded as liabilities for year ended December 31, 2022. Form 990, Part VI, Section B, Line 11b THE ORGANIZATION'S AUDIT COMMITTEE REVIEWS THE FORM 990 WITH THE AUDITED FINANCIAL STATEMENTS BEFORE THE RETURN IS FILED. DURING THE REVIEW PROCESS, AUDIT COMMITTEE MEMBERS WILL DISCUSS ANY QUESTIONS AND CHANGES REGARDING THE RETURN WITH THE BOARD PRESIDENT, VICE PRESIDENTS AND TREASURER. FURTHERMORE, THE AUDIT COMMITTEE HAS CODIFIED THEIR GOVERNANCE POLICY, WHICH INCLUDES THE CONFLICT OF INTEREST POLICY. THERE WERE NO CONFLICTS OF INTEREST DURING THE 2021 TAX YEAR. Form 990, Part VI, Section B, Line 12c THE ORGANIZATION MONITORS AND ENFORCES CONFLICTS THROUGH DISCUSSIONS AT THEIR ANNUAL MEETING WITH BOARD AND COMMITTEE MEMBERS. Form 990, Part VI, Section B, Line 15a THE ORGANIZATION'S BOARD OF DIRECTORS REVIEWED OUTSIDE MARKETING SALARY SOURCES TO GAIN UNDERSTANDING OF MEDIAN SALARY FOR AN EXECUTIVE DIRECTOR. Form 990, Part VI, Section C, Line 19 ORGANIZATION WILL MAKE AVAILABLE ON WEBSITE AND UPON REQUEST.