Civic Intelligence

Sebco Development Inc.

990 • Fiscal year 2023 • EIN 13-2944013

May 01, 2022 to Apr 30, 2023 • Filed on Jan 04, 2024

Organization ProfileWWW.SEBCODEVELOPMENT.ORG
429 Bruckner Blvd 2nd FloorBronx, NY 10455

(347) 726-2547

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$8,303,756

Down $1,230,083 (-13%) from 2022

Net Assets

Down

$7,242,543

Down $874,877 (-11%) from 2022

Liabilities

Down

$1,061,213

Down $355,206 (-25%) from 2022

Revenue And Expenses

Revenue

Up

$2,661,379

Up $1,459,578 (+121%) from 2022

Expenses

Up

$3,536,256

Up $1,804,813 (+104%) from 2022

Net Income

Down

-$874,877

Down $345,235 (-65%) from 2022

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0Assets 2011: $4,693,068Liabilities 2011: $905,774Net Assets 2011: $3,787,2942011Assets 2012: $4,310,363Liabilities 2012: $634,009Net Assets 2012: $3,676,3542012Assets 2013: $4,729,419Liabilities 2013: $1,155,415Net Assets 2013: $3,574,0042013Assets 2014: $4,643,544Liabilities 2014: $1,084,704Net Assets 2014: $3,558,8402014Assets 2015: $6,041,829Liabilities 2015: $1,208,762Net Assets 2015: $4,833,0672015Assets 2016: $10,121,964Liabilities 2016: $1,629,156Net Assets 2016: $8,492,8082016Assets 2017: $9,214,882Liabilities 2017: $1,043,418Net Assets 2017: $8,171,4642017Assets 2018: $9,081,185Liabilities 2018: $731,496Net Assets 2018: $8,349,6892018Assets 2019: $9,560,480Liabilities 2019: $1,043,147Net Assets 2019: $8,517,3332019Assets 2020: $9,437,019Liabilities 2020: $965,733Net Assets 2020: $8,471,2862020Assets 2022: $9,533,839Liabilities 2022: $1,416,419Net Assets 2022: $8,117,4202022Assets 2023: $8,303,756Liabilities 2023: $1,061,213Net Assets 2023: $7,242,5432023Assets 2024: $8,745,293Liabilities 2024: $1,936,293Net Assets 2024: $6,809,0002024

Highlighted filing

2023

Assets$8,303,756
Liabilities$1,061,213
Net Assets$7,242,543
Open 2023 Filing

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $1,002,336Expenses 2011: $1,159,222Net Income 2011: -$156,8862011Expenses 2012: $1,111,2612012Revenue 2013: $1,791,774Expenses 2013: $1,894,124Net Income 2013: -$102,3502013Revenue 2014: $2,208,570Expenses 2014: $2,223,734Net Income 2014: -$15,1642014Revenue 2015: $3,335,979Expenses 2015: $2,922,062Net Income 2015: $413,9172015Revenue 2016: $6,192,961Expenses 2016: $2,533,220Net Income 2016: $3,659,7412016Revenue 2017: $1,875,594Expenses 2017: $2,149,399Net Income 2017: -$273,8052017Revenue 2018: $1,993,017Expenses 2018: $1,814,792Net Income 2018: $178,2252018Revenue 2019: $2,000,898Expenses 2019: $1,848,779Net Income 2019: $152,1192019Revenue 2020: $1,861,678Expenses 2020: $1,930,054Net Income 2020: -$68,3762020Revenue 2022: $1,201,801Expenses 2022: $1,731,443Net Income 2022: -$529,6422022Revenue 2023: $2,661,379Expenses 2023: $3,536,256Net Income 2023: -$874,8772023Revenue 2024: $2,724,695Expenses 2024: $3,158,238Net Income 2024: -$433,5432024

Highlighted filing

2023

Revenue$2,661,379
Expenses$3,536,256
Net Income-$874,877
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
May 1, 2022 to Apr 30, 2023
Signed
Jan 4, 2024
Return Version
2022v5.0
Gross Receipts
$2,661,379
Mission and Program Overview

Mission

Sebco development inc. Is a non profit community based organization committed to developing and maintaining affordable and safe housing in the city of new york. Sebco strives to continually provide well maintained, secure housing along with the supportive services needed to improve the quality of life of the families and individuals we serve in our community.

Sebco development, inc. Is a community based housing development company located in the south bronx of new york city. It has developed more than 6,000 units of subsidized housing. It continues to develop housing, as well as providing social services, transitional housing for the homeless and meals for the edlerly.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,250,739$896,797▼ $353,942
Cash and Non-Interest-Bearing Accounts$377,064$633,343▲ $256,279
Investments Other Securities$493,500$493,500→ $0
Pledges and Grants Receivable$142,290$224,914▲ $82,624
Other Notes and Loans Receivable, Net-$135,395-
Prepaid Expenses and Deferred Charges$41,647$19,771▼ $21,876
Land, Buildings, and Equipment, Net$12,525--
Total Assets$9,533,839$8,303,756▼ $1,230,083
Other Assets Total$7,216,074$5,900,036▼ $1,316,038
Liabilities
Other Liabilities$1,036,120$493,500▼ $542,620
Accounts Payable and Accrued Expenses$210,347$428,835▲ $218,488
Deferred Revenue$169,952$138,878▼ $31,074
Total Liabilities$1,416,419$1,061,213▼ $355,206
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$8,117,420$7,242,543▼ $874,877
Total Net Assets Fund Balance$8,117,420$7,242,543▼ $874,877
Total Liabilities and Net Assets / Fund Balance$9,533,839$8,303,756▼ $1,230,083

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$18,410--
Other Securities$493,500--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Salvatore GiganteCEO/director-$171,635$99,248$171,635
Jason BoroffDirector-$166,982$275,309$166,982
Louis R GiganteDirector-$30,000-$30,000
Enrico BocciaChairFT$400-$400
Carmen ReyesTreasurer/sePT$400-$400
Evelyn VelasquezDirector-$400-$400
Valerie TorresDirector-$200-$200
Victor PapaDirector-$200-$200

Board Members and Trustees

NameTitle
Sonal ShahController
Revenue and Support

Revenue Composition

Contributions and Grants
$120,727
Program Service Revenue
$687,871
Investment Income
$145,324
Other Revenue
$1,707,457
All Other Contributions
$100
Change in Net Assets
$-874,877

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,661,379
Total Revenue per Audited Statements
$2,661,379
Total Revenue per Form 990
$2,661,379
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,363,276
Salaries, Compensation, and Employee Benefits$1,172,980
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$742,234$28,375-$770,609
Other Salaries and Wages$532,854$83,209-$616,063
Fees for Services Legal-$451,783-$451,783
Current Officers, Directors, Trustees, and Key Employees$260,606$108,011-$368,617
Information Technology$81,802$44,048-$125,850
Other Employee Benefits$91,588$10,177-$101,765
Office Expenses$56,621$30,489-$87,110
Payroll Taxes$74,563$11,972-$86,535
Occupancy$49,864$12,466-$62,330
Insurance$22,735$8,613-$31,348
All Other Expenses$9,389$10,800-$20,189
Other Expenses$12,015$3,004-$15,019
Fees for Services Accounting-$12,675-$12,675
Depreciation Depletion$8,141$4,384-$12,525
Advertising$3,070$9,210-$12,280
Conferences and Meetings$1,440$160-$1,600
Total Functional Expenses$2,651,851$884,405$0$3,536,256

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,536,256
Total Expenses per Audited Statements$3,536,256
Total Expenses per Form 990$3,536,256
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Building Management Associates IncOwnerManagementNo$157,019
Building Management AssociatesOfficerManagementNo-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Mortgage Payable (contra)$493,500
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“Father louis gigante salvatore gigante director director/ceo family related”

Form 990, Page 6, Part VI, Line 11B

“The organization's form 990 is reviewed and approved by controller and chief executive officer before it is finalized and filed.”

Form 990, Page 6, Part VI, Line 12C

“The conflict of interest policy is enforced pursuant to the new york state not for profit corporation laws.”

Form 990, Page 6, Part VI, Line 15A

“The salary of ceo is approved by the board of independent directors.”

Form 990, Page 6, Part VI, Line 15B

“The salaries of all of the officers and senior personnel are approved by the board of directors.”

Form 990, Page 6, Part VI, Line 19

“UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Sebco Development Inc
EIN
13-2944013
Phone
3477262547
Address
429 BRUCKNER BLVD 2ND FLOOR, BRONX, NY 10455

Signing Officer

Name
Salvatore Gigante
Title
CEO/director
Phone
7186172800
Signed
2024-01-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Salvatore Gigante
Formed
1978
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
5
Employees
26

Preparer

Firm
A Gary Aaronson CPA Pllc
Address
42 WEST 38TH STREET SUITE 1003, NEW YORK, NY 10018-0060
Preparer
A Gary Aaronson
Phone
2126845770
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Sebco development inc. Is a non profit community based organization committed to developing and maintaining affordable and safe housing in the city of new york. Sebco strives to continually provide well maintained, secure housing along with the supportive services needed to improve the quality of life of the families and individuals we serve in our community.”

Form 990, Part IX, Line 11G

“Consultant fee 419,994 0 0 project development 322,240 0 0 other professional fees 0 28,375 0 total 742,234 28,375 0”

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IRS990/OtherLiabilitiesGrp/EOYAmt0493500
IRS990/OtherRevenueMiscGrp/Desc0DEVELOPMENT FEE
IRS990/OtherRevenueMiscGrp/Desc1OVERHEAD REIMBURSEMENT
IRS990/OtherRevenueMiscGrp/Desc2FEES
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0850000
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt1628997
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt2137920
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0850000
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1628997
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt2137920
IRS990/OtherRevenueTotalAmt01707457
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt083209
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0532854
IRS990/OtherSalariesAndWagesGrp/TotalAmt0616063
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0135395
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt011972
IRS990/PayrollTaxesGrp/ProgramServicesAmt074563
IRS990/PayrollTaxesGrp/TotalAmt086535
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0142290
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0224914
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt041647
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt019771
IRS990/PrincipalOfficerNm0SALVATORE GIGANTE
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0NYC DEPARTMENT OF THE AGING
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0687871
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0687871
IRS990/ProgSrvcAccomActy2Grp/Desc0ELDERLY NUTRITION PROGRAM UNDER CONTRACT WITH THE NEW YORK CITY DEPARTMENT FOR THE AGING.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0687871
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0687871
IRS990/ProgSrvcAccomActy3Grp/Desc0SOCIAL SERVICES TO RESIDENTS OF THE HOUSING DEVELOPED BY THE ORGANIZATION TO STABILIZE THE NEIGHBORHOOD.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt094627
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt094627
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0193553
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0123392
IRS990/PYOtherExpensesAmt0879909
IRS990/PYOtherRevenueAmt0380554
IRS990/PYProgramServiceRevenueAmt0504302
IRS990/PYRevenuesLessExpensesAmt0-529642
IRS990/PYSalariesCompEmpBnftPaidAmt0851534
IRS990/PYTotalExpensesAmt01731443
IRS990/PYTotalRevenueAmt01201801
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-874877
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RelatedOrganizationsAmt026000
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01250739
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0896797
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0120727
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0193553
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0145223
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0167971
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0308777
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0936251
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0145324
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0123392
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0139315
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0127693
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0157004
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0692728
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt03138423
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.48790
IRS990ScheduleA/PublicSupportPY170Pct00.54700
IRS990ScheduleA/PublicSupportTotal170Amt0794831
IRS990ScheduleA/SubstantialContributorsTotAmt0141420
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0120727
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0193553
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0145223
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0167971
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0308777
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0936251
IRS990ScheduleA/TotalSupportAmt01628979
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/ExpensesSubtotalAmt03536256
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt02668911
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt12556010
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2456655
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3150050
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt450000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt518410
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEVELOPER'S FEE RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1OTHER RECEIVABLES
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2ACCRUED INTEREST RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3DUE FROM CROTONA BELMONT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4INITIAL MEMBER CONTRIBUTION
IRS990ScheduleD/OtherAssetsOrgGrp/Desc5SECURITY DEPOSIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0493500
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MORTGAGE PAYABLE (CONTRA)
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0493500
IRS990ScheduleD/OtherSecuritiesGrp/Desc0MORTGAGE RECEIVABLE
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/RevenueSubtotalAmt02661379
IRS990ScheduleD/TotalBookValueOtherAssetsAmt05900036
IRS990ScheduleD/TotalBookValueSecuritiesAmt0493500
IRS990ScheduleD/TotalExpensesPerForm990Amt03536256
IRS990ScheduleD/TotalLiabilityAmt0493500
IRS990ScheduleD/TotalRevenuePerForm990Amt02661379
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02661379
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03536256
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0171635
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1166982
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt099248
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt0275309
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0SALVATORE GIGANTE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1JASON BOROFF
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2SONAL SHAH
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO/DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2CONTROLLER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0171635
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1166982
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt099248
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1275309
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0BUILDING MANAGEMENT ASSOCIATES INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1BUILDING MANAGEMENT ASSOCIATES
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0OWNER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1OFFICER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd1false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0157019
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0MANAGEMENT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1MANAGEMENT
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SEBCO DEVELOPMENT INC. IS A NON PROFIT COMMUNITY BASED ORGANIZATION COMMITTED TO DEVELOPING AND MAINTAINING AFFORDABLE AND SAFE HOUSING IN THE CITY OF NEW YORK. SEBCO STRIVES TO CONTINUALLY PROVIDE WELL MAINTAINED, SECURE HOUSING ALONG WITH THE SUPPORTIVE SERVICES NEEDED TO IMPROVE THE QUALITY OF LIFE OF THE FAMILIES AND INDIVIDUALS WE SERVE IN OUR COMMUNITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FATHER LOUIS GIGANTE SALVATORE GIGANTE DIRECTOR DIRECTOR/CEO FAMILY RELATED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S FORM 990 IS REVIEWED AND APPROVED BY CONTROLLER AND CHIEF EXECUTIVE OFFICER BEFORE IT IS FINALIZED AND FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CONFLICT OF INTEREST POLICY IS ENFORCED PURSUANT TO THE NEW YORK STATE NOT FOR PROFIT CORPORATION LAWS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE SALARY OF CEO IS APPROVED BY THE BOARD OF INDEPENDENT DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE SALARIES OF ALL OF THE OFFICERS AND SENIOR PERSONNEL ARE APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7CONSULTANT FEE 419,994 0 0 PROJECT DEVELOPMENT 322,240 0 0 OTHER PROFESSIONAL FEES 0 28,375 0 TOTAL 742,234 28,375 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 2

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,303,756
Liabilities
$1,061,213
Net assets
$7,242,543
Revenue
$2,661,379
Expenses
$3,536,256
Net income
-$874,877
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$8.75$1.94$6.81$2.72$3.16$0.43
2023Detailed filing. Detailed filing data is available for this year.$8.30$1.06$7.24$2.66$3.54$0.87
2022Detailed filing. Detailed filing data is available for this year.$9.53$1.42$8.12$1.20$1.73$0.53
2020Detailed filing. Detailed filing data is available for this year.$9.44$0.97$8.47$1.86$1.93$0.07
2019Detailed filing. Detailed filing data is available for this year.$9.56$1.04$8.52$2.00$1.85$0.15
2018Detailed filing. Detailed filing data is available for this year.$9.08$0.73$8.35$1.99$1.81$0.18
2017Detailed filing. Detailed filing data is available for this year.$9.21$1.04$8.17$1.88$2.15$0.27
2016Summary only. Only limited summary data is available for this year.$10.1$1.63$8.49$6.19$2.53$3.66
2015Summary only. Only limited summary data is available for this year.$6.04$1.21$4.83$3.34$2.92$0.41
2014Summary only. Only limited summary data is available for this year.$4.64$1.08$3.56$2.21$2.22$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.73$1.16$3.57$1.79$1.89$0.10
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.31$0.63$3.68$1.11
2011Summary only. Only limited summary data is available for this year.$4.69$0.91$3.79$1.00$1.16$0.16