The Sea Gate Association
Sea Gate Association experiences recent deficit spending despite significant asset growth and no reported officer compensation.
EIN: 111308900 · Brooklyn, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $6.5M |
| Total Expenses | $8.2M |
| Program Spending | 70% |
| CEO/Top Officer Pay | $28.5 |
| Net Assets | $24.6M |
| Transparency Score | 75/100 |
Is The Sea Gate Association Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The Sea Gate Association directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About The Sea Gate Association
The Sea Gate Association (EIN: 111308900) is a nonprofit organization based in Brooklyn, NY. The organization reported total revenue of $6.5M and total assets of $28.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Sea Gate Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Sea Gate Association is a mid-size nonprofit that has been operating for 91 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.8M |
| Total Expenses | $8.2M |
| Surplus / Deficit | $-2,398,281 |
| Total Assets | $26.7M |
| Total Liabilities | $2.1M |
| Net Assets | $24.6M |
| Operating Margin | -41.4% |
| Debt-to-Asset Ratio | 8.0% |
| Months of Reserves | 39.1 months |
Financial Health Grade: B
In 2023, The Sea Gate Association reported a deficit of $2.4M with expenses exceeding revenue, holds 39.1 months of operating reserves (strong position), has a debt-to-asset ratio of 8.0% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), The Sea Gate Association's revenue has grown at a compound annual growth rate (CAGR) of 4.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +5.7% | -10.6% | -2.7% |
| 2022 | -55.6% | +44.6% | -11.9% |
| 2021 | -20.1% | +26.6% | +25.5% |
| 2020 | +94.2% | +3.8% | +72.5% |
| 2019 | +25.4% | +14.0% | +28.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1935 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates The Sea Gate Association with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, The Sea Gate Association allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $2.4M, with expenses exceeding revenue.
- Debt-to-asset ratio: 8.0%.
Executive Compensation Analysis
The Sea Gate Association consistently reports 0% officer compensation across all available filings, indicating that no salaries or benefits are paid to its officers, which is highly unusual for an organization of its size with current assets of $28.5 million.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of The Sea Gate Association's IRS 990 filings:
- Expenses exceeding revenue in recent periods (e.g., 2023 expenses $8.19M vs. revenue $5.79M)
- Significant increase in liabilities from $437,903 in 2022 to $2,133,172 in 2023
- Volatile revenue streams, with peaks in 2020 ($15.4M) and 2021 ($12.3M) followed by substantial declines
Strengths
The following positive indicators were identified for The Sea Gate Association:
- Consistent growth in assets over the long term, from $6.6M in 2014 to $28.5M currently
- No reported officer compensation across all filings, indicating low executive overhead
- Consistent filing of IRS Form 990s over 13 periods, demonstrating regulatory compliance and transparency
Frequently Asked Questions about The Sea Gate Association
Is The Sea Gate Association a legitimate charity?
Based on AI analysis of IRS 990 filings, The Sea Gate Association (EIN: 111308900) some concerns. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
How does The Sea Gate Association spend its money?
The Sea Gate Association directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to The Sea Gate Association tax-deductible?
The Sea Gate Association is registered as a tax-exempt nonprofit (EIN: 111308900). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the The Sea Gate Association CEO make?
The Sea Gate Association's highest-compensated officer earns $28.5 annually. The organization reported $6.5M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of The Sea Gate Association's spending goes to programs?
The Sea Gate Association directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is The Sea Gate Association located?
The Sea Gate Association is headquartered in Brooklyn, New York and files with the IRS under EIN 111308900.
How many years of IRS 990 filings does The Sea Gate Association have?
The Sea Gate Association has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $6.5M in total revenue.
Why have expenses exceeded revenue in the last two fiscal periods (2022 and 2023)?
In 2023, expenses were $8,192,588 against revenue of $5,794,307, and in 2022, expenses were $9,160,470 against revenue of $5,481,343. This trend suggests the organization is spending more than it earns, which could impact long-term financial stability.
What caused the significant increase in liabilities from $437,903 in 2022 to $2,133,172 in 2023?
This nearly five-fold increase in liabilities in a single year is a notable change and could indicate new debt, deferred revenue, or other obligations that need to be understood to assess financial risk.
How does the organization sustain operations without officer compensation?
The consistent reporting of 0% officer compensation across all filings is highly unusual for an organization with millions in revenue and assets. It raises questions about how leadership is compensated or if services are provided on a purely volunteer basis at the executive level.
What is the breakdown of program, administrative, and fundraising expenses?
Without a detailed functional expense breakdown in the provided data, it's difficult to ascertain the efficiency of spending across different categories. This information is crucial for understanding how much of the budget directly supports the mission versus overhead.
Filing History
IRS 990 filing history for The Sea Gate Association showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), The Sea Gate Association's revenue has grown by 69.6%, moving from $3.4M to $5.8M. Total assets increased by 556.4% over the same period, from $4.1M to $26.7M. Total functional expenses rose by 145.6%, from $3.3M to $8.2M. In its most recent filing year (2023), The Sea Gate Association reported a deficit of $2.4M, with expenses exceeding revenue. The organization holds $2.1M in liabilities against $26.7M in assets (debt-to-asset ratio: 8.0%), resulting in net assets of $24.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.8M | $8.2M | $26.7M | $2.1M | — | — |
| 2022 | $5.5M | $9.2M | $27.5M | $438K | — | View 990 |
| 2021 | $12.4M | $6.3M | $31.2M | $455K | — | View 990 |
| 2020 | $15.5M | $5.0M | $24.8M | $145K | — | View 990 |
| 2019 | $8.0M | $4.8M | $14.4M | $175K | — | — |
| 2018 | $6.4M | $4.2M | $11.2M | $152K | — | View 990 |
| 2017 | $5.0M | $3.8M | $9.0M | $105K | — | View 990 |
| 2016 | $4.7M | $4.2M | $7.8M | $76K | — | View 990 |
| 2015 | $4.4M | $3.6M | $7.3M | $138K | — | View 990 |
| 2014 | $4.0M | $3.2M | $6.6M | $223K | — | View 990 |
| 2013 | $4.1M | $3.8M | $4.0M | $390K | — | View 990 |
| 2012 | $3.6M | $3.5M | $4.0M | $557K | — | View 990 |
| 2011 | $3.4M | $3.3M | $4.1M | $740K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5.8M, expenses of $8.2M, and assets of $26.7M (revenue +5.7% year-over-year).
- 2022: Revenue of $5.5M, expenses of $9.2M, and assets of $27.5M (revenue -55.6% year-over-year).
- 2021: Revenue of $12.4M, expenses of $6.3M, and assets of $31.2M (revenue -20.1% year-over-year).
- 2020: Revenue of $15.5M, expenses of $5.0M, and assets of $24.8M (revenue +94.2% year-over-year).
- 2019: Revenue of $8.0M, expenses of $4.8M, and assets of $14.4M (revenue +25.4% year-over-year).
- 2018: Revenue of $6.4M, expenses of $4.2M, and assets of $11.2M (revenue +28.0% year-over-year).
- 2017: Revenue of $5.0M, expenses of $3.8M, and assets of $9.0M (revenue +4.6% year-over-year).
- 2016: Revenue of $4.7M, expenses of $4.2M, and assets of $7.8M (revenue +8.0% year-over-year).
- 2015: Revenue of $4.4M, expenses of $3.6M, and assets of $7.3M (revenue +10.7% year-over-year).
- 2014: Revenue of $4.0M, expenses of $3.2M, and assets of $6.6M (revenue -2.1% year-over-year).
- 2013: Revenue of $4.1M, expenses of $3.8M, and assets of $4.0M (revenue +13.3% year-over-year).
- 2012: Revenue of $3.6M, expenses of $3.5M, and assets of $4.0M (revenue +4.8% year-over-year).
- 2011: Revenue of $3.4M, expenses of $3.3M, and assets of $4.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Sea Gate Association:
Data Sources and Methodology
This transparency report for The Sea Gate Association is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.