Civic Intelligence

Sebco Housing Development Fund

990 • Fiscal year 2013 • EIN 13-3180527

Jan 01, 2013 to Dec 31, 2013 • Filed on Jun 23, 2014

885 Bruckner BlvdBronx, NY 10459

(718) 617-2800

Siviq Scores

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

Liabilities / Assets

90th percentile

1.54x

Higher debt load relative to assets than 90% 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

25th percentile

-4.1%

Faster asset growth than 25% 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

Assets

Down

$4,228,060

Down $180,212 (-4.1%) from 2012

Net Assets

Down

-$2,285,979

Down $121,658 (-5.6%) from 2012

Liabilities

Down

$6,514,039

Down $58,554 (-0.9%) from 2012

Revenue

Up

-$121,658

Up $23,032 (+16%) from 2012

Expenses

Flat

$0

Flat from 2012

Net Income

Up

-$121,658

Up $23,032 (+16%) from 2012

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0-$5.0MAssets 2011: $4,839,748Liabilities 2011: $6,859,379Net Assets 2011: -$2,019,6312011Assets 2012: $4,408,272Liabilities 2012: $6,572,593Net Assets 2012: -$2,164,3212012Assets 2013: $4,228,060Liabilities 2013: $6,514,039Net Assets 2013: -$2,285,9792013Assets 2014: $3,970,204Liabilities 2014: $6,393,631Net Assets 2014: -$2,423,4272014Assets 2015: $3,743,981Liabilities 2015: $6,322,571Net Assets 2015: -$2,578,5902015Assets 2016: $3,207,111Liabilities 2016: $5,965,499Net Assets 2016: -$2,758,3882016Assets 2017: $3,044,353Liabilities 2017: $5,852,687Net Assets 2017: -$2,808,3342017Assets 2018: $2,999,031Liabilities 2018: $5,780,561Net Assets 2018: -$2,781,5302018Assets 2019: $2,661,562Liabilities 2019: $5,855,081Net Assets 2019: -$3,193,5192019Assets 2020: $2,589,176Liabilities 2020: $6,010,279Net Assets 2020: -$3,421,1032020Assets 2021: $2,371,962Liabilities 2021: $5,921,029Net Assets 2021: -$3,549,0672021Assets 2022: $1,930,669Liabilities 2022: $5,791,354Net Assets 2022: -$3,860,6852022Assets 2023: $1,827,657Liabilities 2023: $5,682,547Net Assets 2023: -$3,854,8902023Assets 2024: $1,490,975Liabilities 2024: $5,732,901Net Assets 2024: -$4,241,9262024

Highlighted filing

2013

Assets$4,228,060
Liabilities$6,514,039
Net Assets-$2,285,979

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $02011Revenue 2012: -$144,690Expenses 2012: $0Net Income 2012: -$144,6902012Revenue 2013: -$121,658Expenses 2013: $0Net Income 2013: -$121,6582013Revenue 2014: -$137,448Expenses 2014: $0Net Income 2014: -$137,4482014Revenue 2015: -$155,163Expenses 2015: $0Net Income 2015: -$155,1632015Revenue 2016: -$179,798Expenses 2016: $0Net Income 2016: -$179,7982016Revenue 2017: -$49,946Expenses 2017: $0Net Income 2017: -$49,9462017Revenue 2018: $26,804Expenses 2018: $0Net Income 2018: $26,8042018Revenue 2019: -$411,989Expenses 2019: $0Net Income 2019: -$411,9892019Revenue 2020: -$227,584Expenses 2020: $0Net Income 2020: -$227,5842020Revenue 2021: $1,623,788Expenses 2021: $1,751,752Net Income 2021: -$127,9642021Revenue 2022: $1,912,044Expenses 2022: $2,223,662Net Income 2022: -$311,6182022Revenue 2023: $1,704,861Expenses 2023: $1,699,066Net Income 2023: $5,7952023Revenue 2024: $1,666,685Expenses 2024: $2,053,721Net Income 2024: -$387,0362024

Highlighted filing

2013

Revenue-$121,658
Expenses$0
Net Income-$121,658
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Jun 23, 2014
Return Version
2013v3.1
Gross Receipts
$1,427,261
Mission and Program Overview

Mission

Provide housing to poor elderly and handicapped individuals pursuant to guidelines established by the united state department of housing and urban development pursuant to 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$2,797,074$2,579,628▼ $217,446
Cash and Non-Interest-Bearing Accounts$141,660$261,947▲ $120,287
Prepaid Expenses and Deferred Charges$100,257$93,964▼ $6,293
Accounts Receivable$6,417$19,435▲ $13,018
Total Assets$4,408,272$4,228,060▼ $180,212
Other Assets Total$1,362,864$1,273,086▼ $89,778
Liabilities
Other Liabilities$6,427,706$6,355,391▼ $72,315
Accounts Payable and Accrued Expenses$143,889$154,796▲ $10,907
Deferred Revenue$998$3,852▲ $2,854
Total Liabilities$6,572,593$6,514,039▼ $58,554
Net Assets / Fund Balance
Unrestricted Net Assets$-2,164,321$-2,285,979▼ $121,658
Total Net Assets Fund Balance$-2,164,321$-2,285,979▼ $121,658
Total Liabilities and Net Assets / Fund Balance$4,408,272$4,228,060▼ $180,212

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$2,552,028$4,679,565$7,231,593
Land$27,600-$27,600
Other Assets Org$7,305--
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$1,544
Other Revenue
$-123,202
Change in Net Assets
$-121,658

Audited Revenue Reconciliation

Revenue per Audited Statements
$-121,658
Total Revenue per Audited Statements
$-121,658
Total Revenue per Form 990
$-121,658
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$217,446
Other Expense Adjustments$217,446
Expenses per Audited Statements$-217,446
Total Expenses per Audited Statements$-217,446
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$6,336,725
Tenant Security Deposits (contra)$18,666
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
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
Yes
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 tiffany maintenance co., inc. Chair/owner chair/owner officer and director sentry security co., inc. Sebco development, inc. Chairperson chairpeson officer and director

Form 990, Page 6, Part VI, Line 3

The organization sole busniss is the operation of an apartment building for the elderly and handicapped formed under section 202 of the federal housing act of 1936. The building is managed by a property management company that is affiliated with the organization, namely building management associates,inc., which is owned by the organizaton's chairperson.

Form 990, Page 6, Part VI, Line 6

Wholly-owned subsidiary of sebco development, inc., a community based ot for profit organization.

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

Reviewed by congtroller prior to filing.

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

Not applicable. No salaries or compensation paid to officers or directors.

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

Building employees are members of unions and their compensation is determined by union contracts.

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

EIN
13-3180527
Phone
7186172800

Signing Officer

Name
Salvatore Gigante
Title
President
Phone
7186172800
Signed
2014-06-23

Organization Details

Principal Officer
Salvatore Gigante
Voting Board Members
7
Independent Board Members
4
Employees
3

Preparer

Preparer
Irwin Siegel CPA
Phone
2124475599
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Provide housing to poor elderly and handicapped individuals pursuant to guidelines established by the united state department of housing and urban development pursuant to section 202 of the federal housing act of 1936 in the south bronx area of new york city.

Form 990, Part XI, Line 9

Book / tax depreciation difference 217,446

Financial Statement Notes

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

Book / tax depreciation difference 217,446

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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/BusinessNameLine11BUILDING MANAGEMENT ASSOCIATES INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine12TIFFANY MAINTENANCE CO INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine13SENTRY SECURITY CO INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine14SIEGEL & REINER LLP
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0PRESIDENT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1CHAIR/OWNER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt2CHAIR/OWNER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt3CHAIRPERSON
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt4PARTNER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd1false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd2false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd3false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd4false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0PROPERY MANAGEMENT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1PROERTY MANAGEMENT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc2CONTRACT REPAIRS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc3SECURITY
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc4ATTORNEYS
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PROVIDE HOUSING TO POOR ELDERLY AND HANDICAPPED INDIVIDUALS PURSUANT TO GUIDELINES ESTABLISHED BY THE UNITED STATE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT PURSUANT TO SECTION 202 OF THE FEDERAL HOUSING ACT OF 1936 IN THE SOUTH BRONX AREA OF NEW YORK CITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BUILDING MANAGEMENT ASSOCIATES, INC TIFFANY MAINTENANCE CO., INC. CHAIR/OWNER CHAIR/OWNER OFFICER AND DIRECTOR SENTRY SECURITY CO., INC. SEBCO DEVELOPMENT, INC. CHAIRPERSON CHAIRPESON OFFICER AND DIRECTOR
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION SOLE BUSNISS IS THE OPERATION OF AN APARTMENT BUILDING FOR THE ELDERLY AND HANDICAPPED FORMED UNDER SECTION 202 OF THE FEDERAL HOUSING ACT OF 1936. THE BUILDING IS MANAGED BY A PROPERTY MANAGEMENT COMPANY THAT IS AFFILIATED WITH THE ORGANIZATION, NAMELY BUILDING MANAGEMENT ASSOCIATES,INC., WHICH IS OWNED BY THE ORGANIZATON'S CHAIRPERSON.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3WHOLLY-OWNED SUBSIDIARY OF SEBCO DEVELOPMENT, INC., A COMMUNITY BASED OT FOR PROFIT ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4REVIEWED BY CONGTROLLER PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NOT APPLICABLE. NO SALARIES OR COMPENSATION PAID TO OFFICERS OR DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6BUILDING EMPLOYEES ARE MEMBERS OF UNIONS AND THEIR COMPENSATION IS DETERMINED BY UNION CONTRACTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8BOOK / TAX DEPRECIATION DIFFERENCE 217,446
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt04408272
IRS990/TotalAssetsEOYAmt04228060
IRS990/TotalAssetsGrp/BOYAmt04408272
IRS990/TotalAssetsGrp/EOYAmt04228060
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt00
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt06572593
IRS990/TotalLiabilitiesEOYAmt06514039
IRS990/TotalLiabilitiesGrp/BOYAmt06572593
IRS990/TotalLiabilitiesGrp/EOYAmt06514039
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-2164321
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-2285979
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-121658
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0-121658
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04408272
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04228060
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-2164321
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-2285979
IRS990/USAddress/AddressLine10885 BRUCKNER BOULEVARD
IRS990/USAddress/City0BRONX
IRS990/USAddress/State0NY
IRS990/USAddress/ZIPCode010459
IRS990/VotingMembersGoverningBodyCnt00
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0WWW.SEBCODEVELOPMENT.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/PersonNm0SALVATORE GIGANTE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07186172800
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-06-23
ReturnHeader/Filer/BusinessName/BusinessNameLine10SEBCO HOUSING DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine20FUND COMPANY INC
ReturnHeader/Filer/BusinessNameControlTxt0SEBC
ReturnHeader/Filer/EIN0133180527
ReturnHeader/Filer/PhoneNum07186172800
ReturnHeader/Filer/USAddress/AddressLine10885 BRUCKNER BLVD
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 17TH FLOOR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode0100224792
ReturnHeader/PreparerPersonGrp/PhoneNum02124475599
ReturnHeader/PreparerPersonGrp/PreparationDt02014-06-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0IRWIN SIEGEL CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02014-06-26T10:08:14-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-01-01
ReturnHeader/TaxPeriodEndDt02013-12-31
ReturnHeader/TaxYr02013

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.49$5.73$4.24$1.67$2.05$0.39
2023Detailed filing. Detailed filing data is available for this year.$1.83$5.68$3.85$1.70$1.70$0.01
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.93$5.79$3.86$1.91$2.22$0.31
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.37$5.92$3.55$1.62$1.75$0.13
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.59$6.01$3.42$0.23$0.00$0.23
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.66$5.86$3.19$0.41$0.00$0.41
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.00$5.78$2.78$0.03$0.00$0.03
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.04$5.85$2.81$0.05$0.00$0.05
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.21$5.97$2.76$0.18$0.00$0.18
2015Detailed filing. Detailed filing data is available for this year.$3.74$6.32$2.58$0.16$0.00$0.16
2014Summary only. Only limited summary data is available for this year.$3.97$6.39$2.42$0.14$0.00$0.14
2013Detailed filing. Detailed filing data is available for this year.$4.23$6.51$2.29$0.12$0.00$0.12
2012Summary only. Only limited summary data is available for this year.$4.41$6.57$2.16$0.14$0.00$0.14
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.84$6.86$2.02$0.00
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2013 filings • 501(c)3 • $1M-$5M nonprofits