The Leash Inc

“The organization has members in seven different classes. They are as follows: life, honorary, regular, jr regular, non-resident, senior and international members. The only class that has an equitable interest should the club disengage activities is the regular member class. It is also the only class that can elect governors at the annual meeting.”

“Question 7a-the regular member class is the only class that can elect the board of governors. This is done at the annual meeting at the end of the fiscal year.”

“Question 7b-some decisions that are not daily club decisions are subject to approval by the regular members only. Most decisons are made directly by the board of governors.”

“The form 990 is reviewed by the treasurer and board of directors before it is filed with the internal revenue service.”

“There is no written conflict of interest policy. The club asks the potential members if they have business relationships with other members before initiating them, to try to avoid conflicts of interest. Records are stored with our bookkeeper for seven years. Any member can request a copy of financial data and it will be given to them in a timely fashion. The policies related to conflict of interest and whistle blowing have been drafted, and are currently being reviewed by management.”

“Real estate taxes 70,602. Insurance 67,865. Beverages 58,906. Printing supplies 43,608. Food 29,867. Utilities & telephone 24,284. Recruitment and other costs 20,699. Club merchandise 15,996. Cable/fire/key card 7,963. Promotional expenses 4,283. Licenses & permits 4,218. Extra help 4,138. Laundry & cleaning 3,132. Payroll processing fees 3,036. Miscellaneous expenses 482. Bank charges 364.”

“For the year ending august 31, 2018 the leash is making the de minimis safe harbor election under reg. Sec. 1.263(a)-1(f).”

“The leash 41 east 63rd street new york, ny 10021 employer identification number: 13-0951670 for the year ending august 31, 2018 the leash, hereby elects, pursuant to irc sec. 168(k)(2)(d)(iii), not to claim the additional depreciation allowable under irc sec. 168(k) for the following qualifying property placed in service during the tax year ending august 31, 2018. All property in the 3 year class. All property in the 5 year class. All property in the 7 year class. All property in the 10 year class. See attached form 4562.”