2025-11-17T12:56:04-06:00 2024-12-31 812950760 SAX LLP 389 INTERPACE PARKWAY STE 3 PARSIPPANY NJ 07054 990 2024-01-01 111308900 THE SEA GATE ASSOCIATION SEAG 7184494700 3700 SURF AVENUE BROOKLYN NY 11224 MILES DAVIS PRESIDENT 7184494700 2025-11-17 1 0 MARQUS WHITE P00053187 9734726250 2025-11-17 2024 2025-03-06 01:10:19Z MILES DAVIS 3700 SURF AVENUE BROOKLYN NY 11224 6455342 0 X N/A X 1899 NY HOMEOWNER ASSOCATION 10 10 97 17 0 0 4579 0 6047799 6412732 890 43 153929 42567 6207197 6455342 0 0 0 0 2674709 2433550 0 0 0 4421725 4086637 7096434 6520187 -889237 -64845 28574487 28522139 2106172 2212040 26468315 26310099 X HOMEOWNERS ASSOCIATIONTHE SEA GATE ASSOCIATION (THE "ASSOCIATION") IS A NOT-FOR-PROFIT HOMEOWNERS' ASSOCIATION ORGANIZED IN 1899 FOR THE PURPOSE OF GOVERNING AND ADMINISTERING THE COMMUNITY IN BROOKLYN, NEW YORK KNOWN AS SEA GATE. THE ASSOCIATION CONSISTS OF 903 PROPERTIES OCCUPYING A SITE OF APPROXIMATELY THREE SQUARE MILES AND IS LOCATED AT THE FAR WESTERN END OF CONEY ISLAND AT THE SOUTHWESTERN TIP OF BROOKLYN, NEW YORK. 0 0 4175015 6455299 TO PROTECT AND SECURE THE AREA KNOWN AS SEA GATE NEW YORK. ALSO MAINTAIN THE COMMUNAL PROPERTIES AND PROVIDE BASIC PUBLIC SERVICES FOR THE ASSOCIATION MEMBERS.SIGNIFCANT 2024 PROJECTS: REBUILD SURF AVE COMMUNITY ENTRANCE. REPAIR FAULTY SEWER CATCHBASINS AND REPAVE STREETS. 4175015 0 0 0 1 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 97 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 0 0 0 0 NY X NATANIELA HAMADANI 7184494700 3700 SURF AVENUE BROOKLYN NY 11224 MILES DAVIS PRESIDENT 10.00 X X 0 0 0 VINCENT CIRINO PRESIDENT 10.00 X X 0 0 0 ROBBIN PARAISON THRU 41024 PRESIDENT 10.00 X X 0 0 0 EDDIE YUSUPOV VICE PRESIDENT 10.00 X X 0 0 0 RAIZY DAVIS THRU 83124 VICE PRESIDENT/TREASURER 10.00 X X 0 0 0 FREDERICK BABA THRU 12324 TREASURER 10.00 X X 0 0 0 ETHAN GERBER SECRETARY 10.00 X X 0 0 0 MATT STERN THRU 82224 SECRETARY 10.00 X X 0 0 0 DOMINIC D'ANGELO BOARDMEMBER 10.00 X 0 0 0 YAKOV ISRAEL BOARDMEMBER 10.00 X 0 0 0 BETTY BARANOFF BOARDMEMBER 10.00 X 0 0 0 LARRY LEFKOWITZ BOARDMEMBER 10.00 X 0 0 0 FATIMA VISNOVSKY BOARDMEMBER 10.00 X 0 0 0 JULIA GAUFMAN BOARDMEMBER 10.00 X 0 0 0 CARMEN RICCI THRU 41024 BOARDMEMBER 10.00 X 0 0 0 ALENA STASEVICH THRU 83124 BOARDMEMBER 10.00 X 0 0 0 JONATHAN GREENWALD THRU 51424 BOARDMEMBER 10.00 X 0 0 0 CRISTA GAGLIOTI COMMUNITY MANAGER 40.00 X 105823 0 0 105823 0 0 1 0 0 0 ABRAMS FENSTERMAN 1 METROTECH CENTER SUITE 1701 BROOKLYN NY 11201 LEGAL 292103 ALAN J WOHLBERG ESQ 2805 AVENUE N BROOKLYN NY 11210 LEGAL 135268 TRIVELLA & FORTE LLP 1311 MAMARONECK AVE WHITE PLAINS NY 10605 LEGAL 104391 3 DUES AND CHARGES 561700 5535329 5535329 OTHER INCOME 561700 343736 343736 KEY AND DECAL FEES 561700 274773 274773 SUMMER SERVICE INCOME 561700 234594 234594 RENTAL INCOME 561700 24300 24300 6412732 43 43 LEGAL REIMBURSEMENTS 900099 27260 27260 INTEREST BILLED 900099 15307 15307 42567 6455342 6455299 0 43 2075291 1847009 228282 136279 136279 221980 197562 24418 663334 663334 46200 46200 352912 352912 84036 84036 766346 766346 153483 153483 BAD DEBT 880463 138656 741807 POLICE EXPENSE 437977 437977 MAINTENANCE AND REPAIRS 254619 254619 PROPERTY TAXES 174968 174968 272299 204395 67904 6520187 4175015 2345172 0 508776 799141 875728 100688 2544454 1681749 240354 273426 29350410 5121686 22973419 24228724 1431756 1438411 28574487 28522139 191724 504336 484256 334921 1430192 1372783 2106172 2212040 X 0 0 0 0 26468315 26310099 26468315 26310099 28574487 28522139 X -64845 -93371 X 0 1 X 1 0 1 1 0 72366 72366 27968769 4098539 23870230 1274926 994363 280563 34349 28784 5565 24228724 OTHER RECEIVABLES 49442 DEPOSITS 91693 RIGHT-OF-USE ("ROU") ASSET, NET - OPERATING LEASE 1297276 1438411 SECURITY DEPOSITS 25107 OPERATING LEASE LIABILITIES, 1347676 1372783 X 6455342 0 6455342 0 6455342 6613558 93371 93371 6520187 0 6520187 PART X, LINE 2: THE ASSOCIATION IS A NOT-FOR-PROFIT ASSOCIATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. U.S. GAAP REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ASSOCIATION AND RECOGNIZE A TAX LIABILITY IF THE ASSOCIATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT EVALUATED THE ASSOCIATION'S TAX POSITIONS AND CONCLUDED THAT THE ASSOCIATION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE INTERNAL REVENUE SERVICE. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN ALLOWANCE FOR DOUBTFUL ACCOUNTS 93,371. FORM 990, PART VI, SECTION A, LINE 6 CLASSES OF MEMBERS OR STOCKHOLDERS PROPERTY OWNERS ARE THE ASSOCIATION'S MEMBERS. THE BOARD OF DIRECTORS IS ELECTED BY THE MEMBERS. ADDITIONALLY, THE BY-LAWS STIPULATE VARIOUS CIRCUMSTANCES WHERE THE BOARD WOULD NEED A VOTE BY THE MEMBERS TO ENACT VARIOUS ENACTMENTS. FORM 990, PART VI, SECTION A, LINE 7A ELECTION OF MEMBERS AND THEIR RIGHTS EVERY YEAR 5 MEMBERS OF THE BOARD OF DIRECTORS ARE UP FOR ELECTION. MEMBERS HAVE THE RIGHT TO VOTE ON THOSE BOARD MEMBERS. NEGATIVE: THE NOMINATING COMMITTEE VOTES/SELECTS BOARD MEMBERS - MEMBERS VOTE ONLY ON THE NOMINATING COMMITTEE. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS SUBJECT TO APPROVAL OF MEMBERS DURING 2014 THE BOARD OF DIRECTORS WAS INTERESTED IN OBTAINING ADDITIONAL FINANCING FOR THE ASSOCIATION. TAKING ON ADDITIONAL FINANCING IS AN INSTANCE THAT WOULD REQUIRE A VOTE BY THE MEMBERS. THE MEMBERS VOTED AND RESOLVED TO ALLOW THE BOARD TO OBTAIN FINANCING FOR THE BENEFIT OF THE ASSOCIATION. FORM 990, PART VI, SECTION B, LINE 11B ORGANIZATION'S PROCESS TO REVIEW FORM 990 THE TAX RETURN PREPARER SENDS THE TREASURER A DRAFT COPY OF THE COMPLETED TAX RETURN FOR REVIEW AND COMMENTS. AFTER THE TREASURER APPROVES THE RETURN, HE SENDS THE RETURN TO THE BOARD OF DIRECTORS FOR REVIEW AND COMMENTS. AFTER THE BOARD OF DIRECTORS APPROVES THE RETURN, THEY NOTIFY THE PREPARER AND A FINAL VERSION OF THE RETURN IS SENT TO THE PRESIDENT TO BE SIGNED AND MAILED/E-FILED. FORM 990, PART VI, SECTION B, LINE 12C ENFORCEMENT OF CONFLICTS POLICY EMPLOYEES AND MEMBERS OF THE BOARD ARE REQUIRED TO DISCLOSE ANY POTENTIAL CONFLICT OF INTEREST. FAILURE TO DISCLOSE A POTENTIAL CONFLICT OF INTEREST, OR ENGAGING IN A PRACTICE DETERMINED TO BE A CONFLICT OF INTEREST MAY RESULT IN DISCIPLINARY ACTION UP TO AND INCLUDING TERMINATION/OR REMOVAL FROM THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 FORM 990, PART VI, LINE 19 - GOVERNING DOCUMENTS DISCLOSURE EXPLANATION GOVERNING DOCUMENT AVAILABLE AT THE ASSOCIATION'S OFFICE LOCATED AT 3700 SURF AVE, BROOKLYN, NY 11224 FORM 990, PART XI, LINE 9: CHANGE IN ALLOWANCE FOR DOUBTFUL ACCOUNTS -93,371.