Civic Intelligence

Sebco Housing Development Fund

990 • Fiscal year 2015 • EIN 13-3180527

Jan 01, 2015 to Dec 31, 2015 • Filed on Jun 15, 2016

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

(718) 617-2800

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$3,743,981

Down $226,223 (-5.7%) from 2014

Net Assets

Down

-$2,578,590

Down $155,163 (-6.4%) from 2014

Liabilities

Down

$6,322,571

Down $71,060 (-1.1%) from 2014

Revenue And Expenses

Revenue

Down

-$155,163

Down $17,715 (-13%) from 2014

Expenses

Flat

$0

Flat from 2014

Net Income

Down

-$155,163

Down $17,715 (-13%) 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-$5.0MAssets 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

2015

Assets$3,743,981
Liabilities$6,322,571
Net Assets-$2,578,590
Open 2015 Filing

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 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

2015

Revenue-$155,163
Expenses$0
Net Income-$155,163
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Jun 15, 2016
Return Version
2015v2.1
Gross Receipts
$1,527,321
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$2,362,550$2,147,719▼ $214,831
Prepaid Expenses and Deferred Charges$130,200$132,365▲ $2,165
Cash and Non-Interest-Bearing Accounts$168,667$65,862▼ $102,805
Accounts Receivable$26,776$28,342▲ $1,566
Total Assets$3,970,204$3,743,981▼ $226,223
Other Assets Total$1,282,011$1,369,693▲ $87,682
Liabilities
Other Liabilities$6,280,806$6,200,976▼ $79,830
Accounts Payable and Accrued Expenses$112,066$120,976▲ $8,910
Deferred Revenue$759$619▼ $140
Total Liabilities$6,393,631$6,322,571▼ $71,060
Net Assets / Fund Balance
Unrestricted Net Assets$-2,423,427$-2,578,590▼ $155,163
Total Net Assets Fund Balance$-2,423,427$-2,578,590▼ $155,163
Total Liabilities and Net Assets / Fund Balance$3,970,204$3,743,981▼ $226,223

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$2,120,119$5,111,474$7,231,593
Land$27,600-$27,600
Other Assets Org$345--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Fr Louis GiganteChairman
Alejandro RosadoDirector
Enrico BocciaDirector
Louis GaccioneDirector
Carmen ReyesTreas/direct
Revenue and Support

Revenue Composition

Contributions and Grants
$57,452
Program Service Revenue
$0
Investment Income
$1,324
Other Revenue
$-213,939
Change in Net Assets
$-155,163

Audited Revenue Reconciliation

Revenue per Audited Statements
$-155,163
Total Revenue per Audited Statements
$-155,163
Total Revenue per Form 990
$-155,163
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-ChairpersonSecurityNo$157,259
-Chair/ownerContract RepairsNo$87,460
-PresidentPropery ManagementNo$67,682
-Chair/ownerProerty ManagementNo$67,682
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Mortgage Payable$6,181,253
Tenant Security Deposits (contra)$19,723
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
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 building management associates, inc tiffany maintenance co., inc. Ex vice pres ex vice pres officer sebco development, inc. Sentry security co., inc. Ex vice pres ex vice pres officer”

Form 990, Page 6, Part VI, Line 3

“The organization's 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 managementassociates,inc.,which is owned by the organizaton's chairperson. Its management fees are regulated by hud.”

Form 990, Page 6, Part VI, Line 6

“Wholly-owned subsidiary of sebco development, inc., a community based not for profit organization.”

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

“Reviewed by congtroller and ex vice president 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. The officers and directors receive no compensation from the organization.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Sebco Housing Development
EIN
13-3180527
Phone
7186172800
Address
885 BRUCKNER BLVD, BRONX, NY 10459

Signing Officer

Name
Salvatore Gigante
Title
Executive Vice Prese
Phone
7186172800
Signed
2016-06-15

Organization Details

Principal Officer
Salvatore Gigante
Formed
1983
Voting Board Members
8
Independent Board Members
5
Employees
4

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 - 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.”

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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt287460
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt3157259
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0PROPERY MANAGEMENT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1PROERTY MANAGEMENT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc2CONTRACT REPAIRS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc3SECURITY
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 BUILDING MANAGEMENT ASSOCIATES, INC TIFFANY MAINTENANCE CO., INC. EX VICE PRES EX VICE PRES OFFICER SEBCO DEVELOPMENT, INC. SENTRY SECURITY CO., INC. EX VICE PRES EX VICE PRES OFFICER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S 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 MANAGEMENTASSOCIATES,INC.,WHICH IS OWNED BY THE ORGANIZATON'S CHAIRPERSON. ITS MANAGEMENT FEES ARE REGULATED BY HUD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3WHOLLY-OWNED SUBSIDIARY OF SEBCO DEVELOPMENT, INC., A COMMUNITY BASED NOT FOR PROFIT ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4REVIEWED BY CONGTROLLER AND EX VICE PRESIDENT 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. THE OFFICERS AND DIRECTORS RECEIVE NO COMPENSATION FROM THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7NO DOCUMENTS AVAILABLE TO THE PUBLIC
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
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03970204
IRS990/TotalAssetsEOYAmt03743981
IRS990/TotalAssetsGrp/BOYAmt03970204
IRS990/TotalAssetsGrp/EOYAmt03743981
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt057452
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt00
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt06393631
IRS990/TotalLiabilitiesEOYAmt06322571
IRS990/TotalLiabilitiesGrp/BOYAmt06393631
IRS990/TotalLiabilitiesGrp/EOYAmt06322571
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-2423427
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-2578590
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-212615
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0-155163
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03970204
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt03743981
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-2423427
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-2578590
IRS990/USAddress/AddressLine1Txt0885 BRUCKNER BOULEVARD
IRS990/USAddress/CityNm0BRONX
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010459
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.SEBCODEVELOPMENT.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/PersonNm0SALVATORE GIGANTE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE VICE PRESE
ReturnHeader/BusinessOfficerGrp/PhoneNum07186172800
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-06-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SEBCO HOUSING DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FUND COMPANY INC
ReturnHeader/Filer/BusinessNameControlTxt0SEBC
ReturnHeader/Filer/EIN0133180527
ReturnHeader/Filer/PhoneNum07186172800
ReturnHeader/Filer/USAddress/AddressLine1Txt0885 BRUCKNER BLVD
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/PreparationDt02016-06-20
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0IRWIN SIEGEL CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02016-06-20T11:36:25-05:00
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
$3,743,981
Liabilities
$6,322,571
Net assets
-$2,578,590
Revenue
-$155,163
Expenses
$0
Net income
-$155,163
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