Civic Intelligence

E C Housing Development Fund Company Inc.

990 • Fiscal year 2015 • EIN 13-3121459

Jan 01, 2015 to Dec 31, 2015 • Filed on Jun 02, 2016

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

Down

$3,970,323

Down $208,252 (-5.0%) from 2014

Net Assets

Down

-$3,557,163

Down $98,441 (-2.8%) from 2014

Liabilities

Down

$7,527,486

Down $109,811 (-1.4%) from 2014

Revenue And Expenses

Revenue

Down

-$98,441

Down $19,820 (-25%) from 2014

Expenses

Flat

$0

Flat from 2014

Net Income

Down

-$98,441

Down $19,820 (-25%) from 2014

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0-$5.0M-$10MAssets 2011: $4,725,202Liabilities 2011: $7,928,274Net Assets 2011: -$3,203,0722011Assets 2012: $4,531,882Liabilities 2012: $7,834,673Net Assets 2012: -$3,302,7912012Assets 2013: $4,336,068Liabilities 2013: $7,716,169Net Assets 2013: -$3,380,1012013Assets 2014: $4,178,575Liabilities 2014: $7,637,297Net Assets 2014: -$3,458,7222014Assets 2015: $3,970,323Liabilities 2015: $7,527,486Net Assets 2015: -$3,557,1632015Assets 2016: $3,486,910Liabilities 2016: $7,221,474Net Assets 2016: -$3,734,5642016Assets 2017: $3,280,197Liabilities 2017: $7,095,773Net Assets 2017: -$3,815,5762017Assets 2018: $3,008,769Liabilities 2018: $6,929,802Net Assets 2018: -$3,921,0332018Assets 2019: $2,954,217Liabilities 2019: $6,954,649Net Assets 2019: -$4,000,4322019Assets 2020: $2,887,961Liabilities 2020: $7,055,347Net Assets 2020: -$4,167,3862020Assets 2021: $2,924,814Liabilities 2021: $7,258,814Net Assets 2021: -$4,334,0002021Assets 2022: $2,898,514Liabilities 2022: $7,605,390Net Assets 2022: -$4,706,8762022Assets 2023: $2,780,041Liabilities 2023: $7,535,734Net Assets 2023: -$4,755,6932023Assets 2024: $2,311,196Liabilities 2024: $7,839,891Net Assets 2024: -$5,528,6952024

Highlighted filing

2015

Assets$3,970,323
Liabilities$7,527,486
Net Assets-$3,557,163
Open 2015 Filing

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: -$195,287Expenses 2011: $0Net Income 2011: -$195,2872011Expenses 2012: $02012Revenue 2013: -$77,310Expenses 2013: $0Net Income 2013: -$77,3102013Revenue 2014: -$78,621Expenses 2014: $0Net Income 2014: -$78,6212014Revenue 2015: -$98,441Expenses 2015: $0Net Income 2015: -$98,4412015Revenue 2016: -$177,401Expenses 2016: $0Net Income 2016: -$177,4012016Revenue 2017: -$81,012Expenses 2017: $0Net Income 2017: -$81,0122017Revenue 2018: -$105,457Expenses 2018: $0Net Income 2018: -$105,4572018Revenue 2019: -$79,401Expenses 2019: $0Net Income 2019: -$79,4012019Revenue 2020: -$166,954Expenses 2020: $0Net Income 2020: -$166,9542020Revenue 2021: $2,036,769Expenses 2021: $2,203,383Net Income 2021: -$166,6142021Revenue 2022: $2,308,362Expenses 2022: $2,681,238Net Income 2022: -$372,8762022Revenue 2023: $2,182,834Expenses 2023: $2,231,651Net Income 2023: -$48,8172023Revenue 2024: $2,089,746Expenses 2024: $2,862,748Net Income 2024: -$773,0022024

Highlighted filing

2015

Revenue-$98,441
Expenses$0
Net Income-$98,441
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Jun 2, 2016
Return Version
2015v2.1
Gross Receipts
$1,737,938
Mission and Program Overview

Mission

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

Operate an apartment house for the elderly and infirmed under section 202 of the federal housing act of 1936.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,441,397$2,203,475▼ $237,922
Intangible Assets$283,930$273,961▼ $9,969
Cash and Non-Interest-Bearing Accounts$230,652$262,311▲ $31,659
Prepaid Expenses and Deferred Charges$140,892$160,347▲ $19,455
Accounts Receivable$22,328$44,469▲ $22,141
Total Assets$4,178,575$3,970,323▼ $208,252
Other Assets Total$1,059,376$1,025,760▼ $33,616
Liabilities
Other Liabilities$7,457,725$7,358,808▼ $98,917
Accounts Payable and Accrued Expenses$175,780$164,080▼ $11,700
Deferred Revenue$3,792$4,598▲ $806
Total Liabilities$7,637,297$7,527,486▼ $109,811
Net Assets / Fund Balance
Unrestricted Net Assets$-3,458,722$-3,557,163▼ $98,441
Total Net Assets Fund Balance$-3,458,722$-3,557,163▼ $98,441
Total Liabilities and Net Assets / Fund Balance$4,178,575$3,970,323▼ $208,252

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$2,166,275$6,449,319$8,615,594
Land$37,200-$37,200
Other Assets Org$15,025--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Fr Louis R GiganteChairman
Alejandro RosadoDirector
Enrico BocciaDirector
Irwin SiegelDirector
Sr Trude ThomasDirector
Salvatore GigannteExecutive Vi
Carmen ReyesSect/directo
Revenue and Support

Revenue Composition

Contributions and Grants
$62,903
Program Service Revenue
$0
Investment Income
$1,556
Other Revenue
$-162,900
All Other Contributions
$456
Change in Net Assets
$-98,441

Audited Revenue Reconciliation

Revenue per Audited Statements
$-98,441
Total Revenue per Audited Statements
$-98,441
Total Revenue per Form 990
$-98,441
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 Form 990$227,953
Total Expenses per Audited Statements$227,953
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
-VendorGuard ServicesNo$159,183
-VendorRepairsNo$100,224
-VendorProperty Mng. FeesNo$88,424
-VendorProperty ManagerNo$88,424
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Mortgage Payable$7,155,507
DEVELOPER'S FEE PAYABLE$102,503
Miscellaneous Payables$68,479
TENANTS' SECURITY PAYABLE (CONTRA)$32,319
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with family members
Yes
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
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 owner chair of organiza and manageme tiffany maintenance co., inc. Owner owner of maintenance company sentry security co., inc. Chairman chair of organiz and security building management associates, inc president vice prsident of org and mange”

Form 990, Page 6, Part VI, Line 3

“The organization owns a residential building providing housing to the elderly and infirmed. The property is managed by building management associates,inc. An officer of the organization is the majority owner of the management company. The management fees paid are prescribed by united states department of housing and urban development.”

Form 990, Page 6, Part VI, Line 6

“Owned by sebco develoment,inc., a not for profit community based organiazatoin that sponsored the project.”

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

“The controller and the executive vice president review both the certified financial statements and the form 990 before filing.”

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

“The organization has adopted the conflicts of interest policy prescribed by the new york state not for profit law.”

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

“No director or officer receives any remuneration from the organization.”

Form 990, Page 6, Part VI, Line 19

“Upon written request copies are furnished.”

Filing and Contact Details

Filer

Filer Name
Ec Housing Development Fund
EIN
13-3121459
Phone
7186172800
Address
885 BRUCKNER BOULEVARD, BRONX, NY 10459

Signing Officer

Name
Salvatore Gigannte
Title
Executive Vice Presi
Phone
7186172800
Signed
2016-06-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Fr Louis R Gigante
Formed
1982
Legal Domicile
Ny
Voting Board Members
8
Independent Board Members
5
Employees
8

Preparer

Firm
Irwin Siegel CPA
Address
900 THIRD AVENUE 17TH FLOOR, NEW YORK, NY 10022-4792
Preparer
Irwin Siegel CPA
Phone
2124475599
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Book / tax depreciation difference -227,953 total -227,953”

Financial Statement Notes

Schedule D, Page 4, Part XII, Line 2D

“Book / tax depreciation difference 227,953”

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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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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt1TIFFANY MAINTENANCE CO INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt2SENTRY SECURITY CO INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt3BUILDING MANAGEMENT ASSOCITES INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0VENDOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1VENDOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt2VENDOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt3VENDOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd1false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd2false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd3false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt088424
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt1100224
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt2159183
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt388424
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0PROPERTY MNG. FEES
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1REPAIRS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc2GUARD SERVICES
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc3PROPERTY MANAGER
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BUILDING MANAGEMENT ASSOCIATES, INC OWNER CHAIR OF ORGANIZA AND MANAGEME TIFFANY MAINTENANCE CO., INC. OWNER OWNER OF MAINTENANCE COMPANY SENTRY SECURITY CO., INC. CHAIRMAN CHAIR OF ORGANIZ AND SECURITY BUILDING MANAGEMENT ASSOCIATES, INC PRESIDENT VICE PRSIDENT OF ORG AND MANGE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION OWNS A RESIDENTIAL BUILDING PROVIDING HOUSING TO THE ELDERLY AND INFIRMED. THE PROPERTY IS MANAGED BY BUILDING MANAGEMENT ASSOCIATES,INC. AN OFFICER OF THE ORGANIZATION IS THE MAJORITY OWNER OF THE MANAGEMENT COMPANY. THE MANAGEMENT FEES PAID ARE PRESCRIBED BY UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2OWNED BY SEBCO DEVELOMENT,INC., A NOT FOR PROFIT COMMUNITY BASED ORGANIAZATOIN THAT SPONSORED THE PROJECT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CONTROLLER AND THE EXECUTIVE VICE PRESIDENT REVIEW BOTH THE CERTIFIED FINANCIAL STATEMENTS AND THE FORM 990 BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION HAS ADOPTED THE CONFLICTS OF INTEREST POLICY PRESCRIBED BY THE NEW YORK STATE NOT FOR PROFIT LAW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO DIRECTOR OR OFFICER RECEIVES ANY REMUNERATION FROM THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6UPON WRITTEN REQUEST COPIES ARE FURNISHED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7BOOK / TAX DEPRECIATION DIFFERENCE -227,953 TOTAL -227,953
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 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt04178575
IRS990/TotalAssetsEOYAmt03970323
IRS990/TotalAssetsGrp/BOYAmt04178575
IRS990/TotalAssetsGrp/EOYAmt03970323
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt062903
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt00
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt07637297
IRS990/TotalLiabilitiesEOYAmt07527486
IRS990/TotalLiabilitiesGrp/BOYAmt07637297
IRS990/TotalLiabilitiesGrp/EOYAmt07527486
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-3458722
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-3557163
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-161344
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0-98441
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04178575
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03970323
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-3458722
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-3557163
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0505 LAGUARDIA PLACE
IRS990/USAddress/CityNm0NEW YORK
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010012
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.SEBCODEVELOPMENT.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-12-15 16:53:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0SALVATORE GIGANNTE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE VICE PRESI
ReturnHeader/BusinessOfficerGrp/PhoneNum07186172800
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-06-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0EC HOUSING DEVELOPMENT FUND
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0COMPANY INC
ReturnHeader/Filer/BusinessNameControlTxt0ECHO
ReturnHeader/Filer/EIN0133121459
ReturnHeader/Filer/PhoneNum07186172800
ReturnHeader/Filer/USAddress/AddressLine1Txt0885 BRUCKNER BOULEVARD
ReturnHeader/Filer/USAddress/CityNm0BRONX
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010459
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0132992528
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0IRWIN SIEGEL CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0900 THIRD AVENUE 17TH FLOOR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0100224792
ReturnHeader/PreparerPersonGrp/PhoneNum02124475599
ReturnHeader/PreparerPersonGrp/PreparationDt02016-06-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0IRWIN SIEGEL CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02016-06-08T09:50:32-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,970,323
Liabilities
$7,527,486
Net assets
-$3,557,163
Revenue
-$98,441
Expenses
$0
Net income
-$98,441
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.31$7.84$5.53$2.09$2.86$0.77
2023Detailed filing. Detailed filing data is available for this year.$2.78$7.54$4.76$2.18$2.23$0.05
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.90$7.61$4.71$2.31$2.68$0.37
2021Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$2.92$7.26$4.33$2.04$2.20$0.17
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.89$7.06$4.17$0.17$0.00$0.17
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.95$6.95$4.00$0.08$0.00$0.08
2018Detailed filing. Detailed filing data is available for this year.$3.01$6.93$3.92$0.11$0.00$0.11
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.28$7.10$3.82$0.08$0.00$0.08
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.49$7.22$3.73$0.18$0.00$0.18
2015Detailed filing. Detailed filing data is available for this year.$3.97$7.53$3.56$0.10$0.00$0.10
2014Summary only. Only limited summary data is available for this year.$4.18$7.64$3.46$0.08$0.00$0.08
2013Detailed filing. Detailed filing data is available for this year.$4.34$7.72$3.38$0.08$0.00$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.53$7.83$3.30$0.00
2011Summary only. Only limited summary data is available for this year.$4.73$7.93$3.20$0.20$0.00$0.20