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.”

“Beverages 67,612. Insurance 53,880. Repairs & maintenance 50,855. Recruitment and other costs 36,283. Printing supplies 32,563. Food 24,504. Utilities & telephone 22,208. Club merchandise 15,996. Cable/fire/key card 8,260. Promotional expenses 6,269. Extra help 4,404. Payroll processing fees 3,227. Laundry & cleaning 2,293. Licenses & permits 1,913. Bank charges 445. Miscellaneous expenses -8,899.”

“For the year ending august 31, 2019 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, 2019 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, 2019. 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.”