Civic Intelligence

Erma Cava Housing Development Fund Company Inc.

990 • Fiscal year 2013 • EIN 13-3073995

Jan 01, 2013 to Dec 31, 2013 • Filed on Jun 27, 2014

Organization ProfileWWW.SEBCODEVELOPMENT.ORG
885 Bruckner BoulevardBronx, NY 10459

(718) 617-2800

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

91st percentile

1.54x

Higher debt load relative to assets than 91% of similar nonprofits.

2013 filings • NTEE L • $1M-$5M nonprofits • Source year 2013

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2013

Net Margin

99th percentile

100%

Higher net margin than 99% of similar nonprofits.

2013 filings • NTEE L • $1M-$5M nonprofits • Source year 2013

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

2013 filings • NTEE L • $1M-$5M nonprofits • Source year 2013

Asset Growth

18th percentile

-5.5%

Faster asset growth than 18% of similar nonprofits.

2013 filings • NTEE L • $1M-$5M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Balance Sheet
Liabilities / Assets91st percentile

Assets

Down

$1,532,272

Down $88,339 (-5.5%) from 2012

Net Assets

Down

-$829,065

Down $67,281 (-8.8%) from 2012

Liabilities

Down

$2,361,337

Down $21,058 (-0.9%) from 2012

Revenue And Expenses
Liabilities / RevenueScore unavailableNet Margin99th percentile

Revenue

-$55,298

No earlier filing loaded for comparison.

Expenses

Flat

$0

Flat from 2012

Net Income

-$55,298

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth18th percentile

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

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MAssets 2011: $1,738,342Liabilities 2011: $2,410,829Net Assets 2011: -$672,4872011Assets 2012: $1,620,611Liabilities 2012: $2,382,395Net Assets 2012: -$761,7842012Assets 2013: $1,532,272Liabilities 2013: $2,361,337Net Assets 2013: -$829,0652013Assets 2014: $1,465,426Liabilities 2014: $2,329,252Net Assets 2014: -$863,8262014Assets 2015: $1,392,498Liabilities 2015: $2,306,312Net Assets 2015: -$913,8142015Assets 2016: $1,302,389Liabilities 2016: $2,158,134Net Assets 2016: -$855,7452016Assets 2017: $1,309,184Liabilities 2017: $2,101,254Net Assets 2017: -$792,0702017Assets 2018: $1,276,821Liabilities 2018: $2,079,815Net Assets 2018: -$802,9942018Assets 2019: $1,195,385Liabilities 2019: $2,058,972Net Assets 2019: -$863,5872019Assets 2020: $1,155,726Liabilities 2020: $2,376,960Net Assets 2020: -$1,221,2342020Assets 2021: $780,553Liabilities 2021: $2,133,998Net Assets 2021: -$1,353,4452021Assets 2022: $760,692Liabilities 2022: $2,181,930Net Assets 2022: -$1,421,2382022Assets 2023: $739,700Liabilities 2023: $2,113,727Net Assets 2023: -$1,374,0272023Assets 2024: $726,026Liabilities 2024: $2,216,927Net Assets 2024: -$1,490,9012024

Highlighted filing

2013

Assets$1,532,272
Liabilities$2,361,337
Net Assets-$829,065
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.0M$500K$0-$500KExpenses 2011: $02011Expenses 2012: $02012Revenue 2013: -$55,298Expenses 2013: $0Net Income 2013: -$55,2982013Revenue 2014: -$34,761Expenses 2014: $0Net Income 2014: -$34,7612014Revenue 2015: -$49,988Expenses 2015: $0Net Income 2015: -$49,9882015Revenue 2016: $58,069Expenses 2016: $0Net Income 2016: $58,0692016Revenue 2017: $63,675Expenses 2017: $0Net Income 2017: $63,6752017Revenue 2018: -$10,924Expenses 2018: $0Net Income 2018: -$10,9242018Revenue 2019: -$60,593Expenses 2019: $0Net Income 2019: -$60,5932019Revenue 2020: -$357,647Expenses 2020: $0Net Income 2020: -$357,6472020Revenue 2021: $667,444Expenses 2021: $799,655Net Income 2021: -$132,2112021Revenue 2022: $772,460Expenses 2022: $840,253Net Income 2022: -$67,7932022Revenue 2023: $714,173Expenses 2023: $666,962Net Income 2023: $47,2112023Revenue 2024: $699,734Expenses 2024: $816,608Net Income 2024: -$116,8742024

Highlighted filing

2013

Revenue-$55,298
Expenses$0
Net Income-$55,298
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Jun 27, 2014
Return Version
2013v3.1
Gross Receipts
$613,434
Mission and Program Overview

Mission

Provide housing for the elderly and handicapped under section 202 of the federal housing act of 1936 in the south bronx area of new york city.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$759,223$676,265▼ $82,958
Intangible Assets$132,901$128,544▼ $4,357
Cash and Non-Interest-Bearing Accounts-$100,330-
Prepaid Expenses and Deferred Charges$48,234$51,202▲ $2,968
Accounts Receivable$68,019$27,456▼ $40,563
Total Assets$1,620,611$1,532,272▼ $88,339
Other Assets Total$612,234$548,475▼ $63,759
Liabilities
Other Liabilities$2,280,450$2,253,266▼ $27,184
Accounts Payable and Accrued Expenses$112,863$107,006▼ $5,857
Deferred Revenue$1,065$1,065→ $0
Total Liabilities$2,394,378$2,361,337▼ $33,041
Net Assets / Fund Balance
Unrestricted Net Assets$-773,767$-829,065▼ $55,298
Total Net Assets Fund Balance$-773,767$-829,065▼ $55,298
Total Liabilities and Net Assets / Fund Balance$1,620,611$1,532,272▼ $88,339

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$657,065$1,760,602$2,417,667
Land$19,200-$19,200
Other Assets Org$195--
Compensation and Service Providers
Top Officer Pay54th percentile

Board Members and Trustees

NameTitle
Fr Louis R GiganteChairman
Alejandor RosadoDirector
Enrico BocciaDirector
Sr Trude ThomasDirector
Irwin Siegel-
Carmen ReyesTreasurer/di
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$450
Other Revenue
$-55,748
Change in Net Assets
$-55,298

Audited Revenue Reconciliation

Revenue per Audited Statements
$-55,298
Total Revenue per Audited Statements
$-55,298
Total Revenue per Form 990
$-55,298
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$0
Other Expenses$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Audited Expense Reconciliation

Line ItemAmount
Expenses Not Reported on Financial Statements$4,356
Other Expense Adjustments$4,356
Expenses per Audited Statements$-4,356
Total Expenses per Audited Statements$-4,356
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Mortgage Payable$2,222,367
DEVELOPER'S FEE PAYABLE$24,292
Tenant Security Deposits (contra)$6,607
Bank Overdraft-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“Building management associates, inc chairperson property management company tiffany maintenance co., inc. President maint co owned by chair of org sentry security co. Inc. Chair chair of security co. And orga building management associates, inc pres maint co and vp of organizatio”

Form 990, Page 6, Part VI, Line 3

“The organization operates a housing project for the elderly and handicapped under section 202 of the federal housing act. Building management associates, inc. Manages the property under terms and fees dictated by the united states department of housing and urban development. The chairperson of the organization is the majority owner of the management company.”

Form 990, Page 6, Part VI, Line 6

“Organized with one stockholder, sebco development co., inc., a not for profit based communcity organization.”

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

“The controller and vice-preisident review the financial statement and the form 990 before filing.”

Form 990, Page 6, Part VI, Line 19

“PROVIDED UPON REQUEST.”

Filing and Contact Details

Filer

EIN
13-3073995
Phone
7186172800

Signing Officer

Name
Salvatore Gigante
Title
Vice President
Phone
7186172800
Signed
2014-06-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Salvatore Gigante
Voting Board Members
7
Independent Board Members
5
Employees
2

Preparer

Preparer
Irwin Siegel CPA
Phone
2124475599
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Book / tax depreciation difference 4,356”

Financial Statement Notes

Schedule D, Page 4, Part XII, Line 4B

“Book / tax depreciation difference 4,356”

Raw XML Appendix326 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BUILDING MANAGEMENT ASSOCIATES, INC CHAIRPERSON PROPERTY MANAGEMENT COMPANY TIFFANY MAINTENANCE CO., INC. PRESIDENT MAINT CO OWNED BY CHAIR OF ORG SENTRY SECURITY CO. INC. CHAIR CHAIR OF SECURITY CO. AND ORGA BUILDING MANAGEMENT ASSOCIATES, INC PRES MAINT CO AND VP OF ORGANIZATIO
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION OPERATES A HOUSING PROJECT FOR THE ELDERLY AND HANDICAPPED UNDER SECTION 202 OF THE FEDERAL HOUSING ACT. BUILDING MANAGEMENT ASSOCIATES, INC. MANAGES THE PROPERTY UNDER TERMS AND FEES DICTATED BY THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. THE CHAIRPERSON OF THE ORGANIZATION IS THE MAJORITY OWNER OF THE MANAGEMENT COMPANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ORGANIZED WITH ONE STOCKHOLDER, SEBCO DEVELOPMENT CO., INC., A NOT FOR PROFIT BASED COMMUNCITY ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CONTROLLER AND VICE-PREISIDENT REVIEW THE FINANCIAL STATEMENT AND THE FORM 990 BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PROVIDED UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BOOK / TAX DEPRECIATION DIFFERENCE 4,356
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01620611
IRS990/TotalAssetsEOYAmt01532272
IRS990/TotalAssetsGrp/BOYAmt01620611
IRS990/TotalAssetsGrp/EOYAmt01532272
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt00
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02394378
IRS990/TotalLiabilitiesEOYAmt02361337
IRS990/TotalLiabilitiesGrp/BOYAmt02394378
IRS990/TotalLiabilitiesGrp/EOYAmt02361337
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-773767
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-829065
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-55298
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0-55298
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01620611
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01532272
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-773767
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-829065
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine10885 BRUCKNER BOULEVARD
IRS990/USAddress/City0BRONX
IRS990/USAddress/State0NY
IRS990/USAddress/ZIPCode010459
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.SEBCODEVELOPMENT.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0SALVATORE GIGANTE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VICE PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07186172800
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-06-27
ReturnHeader/Filer/BusinessName/BusinessNameLine10ERMA CAVA HOUSING DEVELOPMENT FUND
ReturnHeader/Filer/BusinessName/BusinessNameLine20COMPANY INC
ReturnHeader/Filer/BusinessNameControlTxt0ERMA
ReturnHeader/Filer/EIN0133073995
ReturnHeader/Filer/PhoneNum07186172800
ReturnHeader/Filer/USAddress/AddressLine10885 BRUCKNER BOULEVARD
ReturnHeader/Filer/USAddress/City0BRONX
ReturnHeader/Filer/USAddress/State0NY
ReturnHeader/Filer/USAddress/ZIPCode010459
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0132992528
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10IRWIN SIEGEL CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10900 THIRD AVENUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode010022
ReturnHeader/PreparerPersonGrp/PhoneNum02124475599
ReturnHeader/PreparerPersonGrp/PreparationDt02014-06-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0IRWIN SIEGEL CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02014-06-28T17:15:31-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,532,272
Liabilities
$2,361,337
Net assets
-$829,065
Revenue
-$55,298
Expenses
$0
Net income
-$55,298
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.73$2.22$1.49$0.70$0.82$0.12
2023Detailed filing. Detailed filing data is available for this year.$0.74$2.11$1.37$0.71$0.67$0.05
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.76$2.18$1.42$0.77$0.84$0.07
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.78$2.13$1.35$0.67$0.80$0.13
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.16$2.38$1.22$0.36$0.00$0.36
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.20$2.06$0.86$0.06$0.00$0.06
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.28$2.08$0.80$0.01$0.00$0.01
2017Detailed filing. Detailed filing data is available for this year.$1.31$2.10$0.79$0.06$0.00$0.06
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.30$2.16$0.86$0.06$0.00$0.06
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.39$2.31$0.91$0.05$0.00$0.05
2014Summary only. Only limited summary data is available for this year.$1.47$2.33$0.86$0.03$0.00$0.03
2013Detailed filing. Detailed filing data is available for this year.$1.53$2.36$0.83$0.06$0.00$0.06
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.62$2.38$0.76$0.00
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.74$2.41$0.67$0.00