Civic Intelligence

Erma Cava Housing Development Fund Company Inc.

990 • Fiscal year 2017 • EIN 13-3073995

Jan 01, 2017 to Dec 31, 2017 • Filed on Aug 23, 2018

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

(718) 617-2800

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Up

$1,309,184

Up $6,795 (+0.5%) from 2016

Net Assets

Up

-$792,070

Up $63,675 (+7.4%) from 2016

Liabilities

Down

$2,101,254

Down $56,880 (-2.6%) from 2016

Revenue And Expenses

Revenue

Up

$63,675

Up $5,606 (+9.7%) from 2016

Expenses

Flat

$0

Flat from 2016

Net Income

Up

$63,675

Up $5,606 (+9.7%) from 2016

Historical Trend

Balance Sheet Trend

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

2017

Assets$1,309,184
Liabilities$2,101,254
Net Assets-$792,070
Open 2017 Filing

Operations Trend

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

2017

Revenue$63,675
Expenses$0
Net Income$63,675
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Aug 23, 2018
Return Version
2017v2.3
Gross Receipts
$668,543
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.

Provide affordable housing for the elderly and handicapped under section 202 of the federal housing act of 1936.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$489,375$431,492▼ $57,883
Cash and Non-Interest-Bearing Accounts$128,665$114,132▼ $14,533
Prepaid Expenses and Deferred Charges$68,295$56,806▼ $11,489
Accounts Receivable$10,601$27,538▲ $16,937
Total Assets$1,302,389$1,309,184▲ $6,795
Other Assets Total$605,453$679,216▲ $73,763
Liabilities
Other Liabilities$2,055,154$2,028,527▼ $26,627
Accounts Payable and Accrued Expenses$102,649$71,253▼ $31,396
Deferred Revenue$331$1,474▲ $1,143
Total Liabilities$2,158,134$2,101,254▼ $56,880
Net Assets / Fund Balance
Unrestricted Net Assets$-855,745$-792,070▲ $63,675
Total Net Assets Fund Balance$-855,745$-792,070▲ $63,675
Total Liabilities and Net Assets / Fund Balance$1,302,389$1,309,184▲ $6,795

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$412,292$2,020,115$2,432,407
Land$19,200-$19,200
Other Assets Org$8,249--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Fr Louis R GiganteChairman
Alejandor RosadoDirector
Enrico BocciaDirector
Carmen ReyesTreasurer/di
Revenue and Support

Revenue Composition

Contributions and Grants
$27,082
Program Service Revenue
$0
Investment Income
$382
Other Revenue
$36,211
Change in Net Assets
$63,675

Audited Revenue Reconciliation

Revenue per Audited Statements
$63,675
Total Revenue per Audited Statements
$63,675
Total Revenue per Form 990
$63,675
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
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$1,995,986
DEVELOPER'S FEE PAYABLE$24,292
Tenant Security Deposits (contra)$8,249
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 president 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 community based organization.”

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

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

Form 990, Page 6, Part VI, Line 19

“Provided upon request and a copy is avaialable from the new york state department of law.”

Filing and Contact Details

Filer

Filer Name
Erma Cava Housing Development Fund
EIN
13-3073995
Phone
7186172800
Address
885 BRUCKNER BOULEVARD, BRONX, NY 10459

Signing Officer

Name
Salvatore Gigante
Title
Executive Vice Presi
Phone
7186172800
Signed
2018-08-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Salvatore Gigante
Formed
1980
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
4
Employees
3

Preparer

Firm
Irwin Siegel CPA
Address
130 EAST 59TH STREET, NEW YORK, NY 10022
Preparer
Irwin Siegel CPA
Phone
2124475599
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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 PRESIDENT 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 COMMUNITY BASED ORGANIZATION.
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IRS990/USAddress/CityNm0BRONX
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010459
IRS990/VotingMembersGoverningBodyCnt00
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0WWW.SEBCODEVELOPMENT.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0SALVATORE GIGANTE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE VICE PRESI
ReturnHeader/BusinessOfficerGrp/PhoneNum07186172800
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-08-23
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ERMA CAVA HOUSING DEVELOPMENT FUND
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0COMPANY INC
ReturnHeader/Filer/BusinessNameControlTxt0ERMA
ReturnHeader/Filer/EIN0133073995
ReturnHeader/Filer/PhoneNum07186172800
ReturnHeader/Filer/USAddress/AddressLine1Txt0885 BRUCKNER BOULEVARD
ReturnHeader/Filer/USAddress/CityNm0BRONX
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010459
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId07C77AE909419911C4C2720A85BD20266441CFDB8
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId07C77AE909419911C4C2720A85BD20266441CFDB8
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0172.254.222.142
ReturnHeader/FilingSecurityInformation/IPDt02018-08-23
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm017:38:13
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0132992528
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0IRWIN SIEGEL CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0130 EAST 59TH STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010022
ReturnHeader/PreparerPersonGrp/PhoneNum02124475599
ReturnHeader/PreparerPersonGrp/PreparationDt02018-08-23
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0IRWIN SIEGEL CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02018-08-23T18:38:13-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,309,184
Liabilities
$2,101,254
Net assets
-$792,070
Revenue
$63,675
Expenses
$0
Net income
$63,675
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