HUNTS POINT HOUSING DEVELOPMENT FUND CORPORATION: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- HUNTS POINT HOUSING DEVELOPMENT FUND CORPORATION (EIN 13-3574304)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-10
- IRS object ID
- 202403159349301210
- Schema version
- 2023v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-11-10T15:08:02-05:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | A GARY AARONSON CPA PLLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 42 WEST 38TH STREET SUITE 1003 | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 100180060 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 133574304 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HUNTS POINT HOUSING DEVELOPMENT | BusinessNameLine1Txt |
| Business Name Line2 | CORPORATION | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | HUNT | BusinessNameControlTxt |
| Phone | 3477262547 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 429 BRUCKNER BLVD2ND FLOOR | AddressLine1Txt |
| City | BRONX | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10455 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | SALVATORE GIGANTE | PersonNm |
| Person Title | VICE PRESIDENT | PersonTitleTxt |
| Phone | 3477262547 | PhoneNum |
| Signature | 2024-11-08 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | false | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | A GARY AARONSON | PreparerPersonNm |
| PTIN | P01327657 | PTIN |
| Phone | 2126845770 | PhoneNum |
| Preparation | 2024-11-10 | PreparationDt |
| Self Employed | Yes (X) | SelfEmployedInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | SALVATORE GIGANTE | PrincipalOfficerNm |
| Gross Receipts | $6,407,991 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | N/A | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Legal Domicile State | NY | LegalDomicileStateCd |
| Activity Or Mission | THE COMPANY OWNS AND OPERATES LOW INCOME HOUSING IN THE SOUTH BRONX IN ADDITION THE COMPANY PROVIDES SOCIAL SERVICES FOR THE TENANTS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 3 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 2 | VotingMembersIndependentCnt |
| Total Employee | 19 | TotalEmployeeCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $5,232,225 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $5,243,286 | CYProgramServiceRevenueAmt |
| PY Investment Income | $85,371 | PYInvestmentIncomeAmt |
| CY Investment Income | $185,196 | CYInvestmentIncomeAmt |
| PY Other Revenue | $5,027 | PYOtherRevenueAmt |
| CY Other Revenue | $7,333 | CYOtherRevenueAmt |
| PY Total Revenue | $5,322,623 | PYTotalRevenueAmt |
| CY Total Revenue | $5,435,815 | CYTotalRevenueAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $863,499 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $852,461 | CYSalariesCompEmpBnftPaidAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $4,600,206 | PYOtherExpensesAmt |
| CY Other Expenses | $4,313,448 | CYOtherExpensesAmt |
| PY Total Expenses | $5,463,705 | PYTotalExpensesAmt |
| CY Total Expenses | $5,165,909 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$141,082 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $269,906 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $13,578,651 | TotalAssetsBOYAmt |
| Total Assets EOY | $13,604,207 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $36,642,151 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $36,371,743 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | -$23,063,500 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | -$22,767,536 | NetAssetsOrFundBalancesEOYAmt |
| Mission | THE COMPANY OWNS AND OPERATES LOW INCOME HOUSING IN THE SOUTH BRONX IN ADDITION THE COMPANY PROVIDES SOCIAL SERVICES FOR THE TENANTS. | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Expense | $4,764,472 | ExpenseAmt |
| Desc | THE COMPANY CONSTRUCTED LOW INCOME HOUSING IN THE SOUTH BRONX FINANCED WITH FUNDS FROM NYC. THE COMPANY ALSO PROVIDES SOCIAL SERVICES FOR THE TENANTS. | Desc |
| Total Program Service Expenses | $4,764,472 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (true) | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Lobbying Activities | false | LobbyingActivitiesInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | Yes (true) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | false | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (true) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | false | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (true) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | false | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | false | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | false | PYExcessBenefitTransInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | Yes (true) | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | Yes (true) | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | false | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| IRP Document | 12 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 19 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | false | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | false | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | false | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | false | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | false | PayPremiumsPrsnlBnftCntrctInd |
| Form8899 Filedind | false | Form8899Filedind |
| Form1098 C Filed | false | Form1098CFiledInd |
| DAF Excess Business Holdings | false | DAFExcessBusinessHoldingsInd |
| Taxable Distributions | false | TaxableDistributionsInd |
| Distribution To Donor | false | DistributionToDonorInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 3 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 2 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | Yes (true) | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (true) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | false | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (true) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | false | DocumentRetentionPolicyInd |
| Compensation Process CEO | false | CompensationProcessCEOInd |
| Compensation Process Other | false | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | NY | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SEBCO DEVELOPMENT INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 3477262547 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 429 BRUCKNER BLVD 2ND FLOOR | AddressLine1Txt |
| City | BRONX | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10455 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (4 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| ENRICO BOCCIA | ||||||||
| CHAIR | 0.05 | 0.80 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| EVELYN VELAZQUEZ | ||||||||
| TREASURER/SE | 0.05 | 0.80 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| SALVATORE GIGANTE | ||||||||
| VICE PRESIDE | 0.30 | 40.00 | Yes (X) | Yes (X) | $0 | $251,995 | $0 | |
| SONAL SHAH | ||||||||
| CONTROLLER | 35.00 | $0 | $139,248 | $0 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tot Reportable Comp Rltd Org | $391,243 | TotReportableCompRltdOrgAmt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | LOW INCOME HOUSING RENTAL | Desc |
| Business | 531110 | BusinessCd |
| Total Revenue Column | $5,243,286 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $5,243,286 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $5,243,286 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $167,372 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $167,372 | RelatedOrExemptFuncIncomeAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $990,000 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $972,176 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $17,824 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $17,824 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $17,824 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER INCOME | Desc |
| Total Revenue Column | $7,333 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $7,333 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $7,333 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $5,435,815 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $5,435,815 | RelatedOrExemptFuncIncomeAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $583,766 | TotalAmt |
| Program Services | $583,766 | ProgramServicesAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $222,693 | TotalAmt |
| Program Services | $222,693 | ProgramServicesAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $46,002 | TotalAmt |
| Program Services | $46,002 | ProgramServicesAmt |
Fees For Services Management FeesForServicesManagementGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $381,712 | TotalAmt |
| Management And General | $381,712 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $135,022 | TotalAmt |
| Program Services | $135,022 | ProgramServicesAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $19,725 | TotalAmt |
| Management And General | $19,725 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $137,416 | TotalAmt |
| Program Services | $137,416 | ProgramServicesAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,125 | TotalAmt |
| Program Services | $3,125 | ProgramServicesAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,378 | TotalAmt |
| Program Services | $7,378 | ProgramServicesAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $35,322 | TotalAmt |
| Program Services | $35,322 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $376,857 | TotalAmt |
| Program Services | $376,857 | ProgramServicesAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $490,646 | TotalAmt |
| Program Services | $490,646 | ProgramServicesAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt |
|---|---|---|
| REPAIR & MAINTENANCE | $862,850 | $862,850 |
| UTILITIES & FUEL | $736,416 | $736,416 |
| WATER & SEWER | $535,407 | $535,407 |
| BAD DEBTS | $248,820 | $248,820 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $342,752 | TotalAmt |
| Program Services | $342,752 | ProgramServicesAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,165,909 | TotalAmt |
| Program Services | $4,764,472 | ProgramServicesAmt |
| Management And General | $401,437 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,123,707 | BOYAmt |
| EOY | $5,223,597 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $966,568 | BOYAmt |
| EOY | $1,168,007 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $469,982 | BOYAmt |
| EOY | $295,035 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $37,966,203 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $34,671,631 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,654,337 | BOYAmt |
| EOY | $3,294,572 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $157,725 | BOYAmt |
| EOY | $140,633 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,206,332 | BOYAmt |
| EOY | $3,482,363 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,578,651 | BOYAmt |
| EOY | $13,604,207 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,267,088 | BOYAmt |
| EOY | $1,480,594 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $400,761 | BOYAmt |
| EOY | $398,387 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $34,890,269 | BOYAmt |
| EOY | $34,421,434 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $84,033 | BOYAmt |
| EOY | $71,328 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $36,642,151 | BOYAmt |
| EOY | $36,371,743 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$23,063,500 | BOYAmt |
| EOY | -$22,767,536 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$23,063,500 | BOYAmt |
| EOY | -$22,767,536 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,578,651 | BOYAmt |
| EOY | $13,604,207 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $269,906 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $26,058 | NetUnrlzdGainsLossesInvstAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | Yes (X) | PubliclySupportedOrg509a2Ind |
Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus2 Years | $156,926 | CurrentTaxYearMinus2YearsAmt |
| Total | $156,926 | TotalAmt |
Gross Receipts Admissions GrossReceiptsAdmissionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $5,131,046 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $5,160,622 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $5,224,946 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $5,232,225 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $5,243,286 | CurrentTaxYearAmt |
| Total | $25,992,125 | TotalAmt |
Total509 Total509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $5,131,046 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $5,160,622 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $5,381,872 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $5,232,225 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $5,243,286 | CurrentTaxYearAmt |
| Total | $26,149,051 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | $26,149,051 | PublicSupportTotal509Amt |
Gross Investment Income509 GrossInvestmentIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $110,566 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $69,361 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $41,235 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $85,371 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $185,196 | CurrentTaxYearAmt |
| Total | $491,729 | TotalAmt |
Investment Income And UBTI InvestmentIncomeAndUBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $110,566 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $69,361 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $41,235 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $85,371 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $185,196 | CurrentTaxYearAmt |
| Total | $491,729 | TotalAmt |
Other Income509 OtherIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $3,210 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $4,098 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $7,029 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $5,027 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $7,333 | CurrentTaxYearAmt |
| Total | $26,697 | TotalAmt |
Total Support Calendar Year TotalSupportCalendarYearGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $5,244,822 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $5,234,081 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $5,430,136 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $5,322,623 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $5,435,815 | CurrentTaxYearAmt |
| Total | $26,667,477 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support CY509 | 0.98060 | PublicSupportCY509Pct |
| Public Support PY509 | 0.98390 | PublicSupportPY509Pct |
| Investment Income CY | 0.02000 | InvestmentIncomeCYPct |
| Investment Income PY | 0.02000 | InvestmentIncomePYPct |
| Thirty Thr Pct Suprt Tests CY509 | Yes (X) | ThirtyThrPctSuprtTestsCY509Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART III, LINE 12 | FormAndLineReferenceDesc |
| Explanation | OTHER INCOME 26,697 | ExplanationTxt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | false | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (true) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $35,614,016 | OtherCostOrOtherBasisAmt |
| Depreciation | $32,650,293 | DepreciationAmt |
| Book Value | $2,963,723 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,352,187 | OtherCostOrOtherBasisAmt |
| Depreciation | $2,021,338 | DepreciationAmt |
| Book Value | $330,849 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $3,294,572 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (3 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| FUNDING RESERVE | $2,901,808 |
| TENANT SECURITY DEPOSIT | $398,387 |
| OTHER RECEIVABLES | $182,168 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $3,482,363 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PREPAID RENT | Desc |
| Amt | $71,328 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $71,328 | TotalLiabilityAmt |
| Total Rev Etc Audited Fincl Stmt | $5,461,873 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $26,058 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $26,058 | RevenueNotReportedAmt |
| Revenue Subtotal | $5,435,815 | RevenueSubtotalAmt |
| Total Revenue Per Form990 | $5,435,815 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $5,165,909 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Subtotal | $5,165,909 | ExpensesSubtotalAmt |
| Total Expenses Per Form990 | $5,165,909 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE D, PAGE 2, PART IV, LINE 2B | FormAndLineReferenceDesc |
| Explanation | THE ORGANIZATION HOLDS SECURITY DEPOSITS FROM TENANTS IN AN ESCROW ACCOUNT. THESE DEPOSITS ARE RETURNED TO THE TENANTS ONCE TENANTS MOVE OUT OF THE APARTMENT. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | false | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | false | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | false | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | false | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | false | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | false | AnyNonFixedPaymentsInd |
| Initial Contract Exception | false | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | SALVATORE GIGANTE | PersonNm |
| Title | VICE PRESIDENT | TitleTxt |
| Compensation Based On Rltd Orgs | $251,995 | CompensationBasedOnRltdOrgsAmt |
| Total Compensation Rltd Orgs | $251,995 | TotalCompensationRltdOrgsAmt |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | SENTRY SECURITY | PersonNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | AFFILIATE | RelationshipDescriptionTxt |
| Transaction | $109,186 | TransactionAmt |
| Transaction | SECURITY | TransactionDesc |
| Sharing Of Revenues | false | SharingOfRevenuesInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PAGE 6, PART VI, LINE 3 | THE ORGANIZATION OWNS APARTMENT BUILDINGS CONSTRUCTED AND MAINTAINED TO PROVIDE LOW INCOME HOUSING. IN 2023, THE PROPERTY MANAGEMENT COMPANY WAS CHANGED TO SEBCO DEVELOPMENT INC. |
| FORM 990, PAGE 6, PART VI, LINE 6 | ORGANIZED WITH ONE MEMBER, SEBCO DEVELOPMENT, INC., A NOT FOR PROFIT IRC SECTION 501(C)(3)COMMUNITY BASED ORGANIZATION. |
| FORM 990, PAGE 6, PART VI, LINE 7A | SEBCO DEVELOPMENT INC., THE SOLE MEMBER OF THE ORGANIZATION, HAS THE RIGHT TO APPOINT THE MEMBERS TO THE BOARD OF DIRECTORS. |
| FORM 990, PAGE 6, PART VI, LINE 11B | THE ORGANIZATION'S 990 IS REVIEWED AND APPROVED BY CONTROLLER AND VICE PRESIDENT BEFORE IT IS FINALIZED AND FILED. |
| FORM 990, PAGE 6, PART VI, LINE 12C | THE CONFLICTS OF INTEREST POLICY IS ENFORCED PURSUANT TO THE NEW YORK STATE NOT FOR PROFIT CORPORATION LAWS. |
| FORM 990, PAGE 6, PART VI, LINE 19 | DOCUMENTS, WHICH ARE PUBLIC RECORD, ARE AVAILABLE FROM NY SECRETARY OF STATE AND UPON REQUEST. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SEBCO DEVELOPMENT INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 885 BRUCKNER BLVD | AddressLine1Txt |
| City | BRONX | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10459 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 132944013 | EIN |
| Primary Activities | DEVELOPMEN | PrimaryActivitiesTxt |
| Legal Domicile State | NY | LegalDomicileStateCd |
| Exempt Code Section | 501C3 | ExemptCodeSectionTxt |
| Public Charity Status | 7 | PublicCharityStatusTxt |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Controlled Organization | false | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | false | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | false | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | false | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | false | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | false | DivRelatedOrganizationInd |
| Asset Sale To Other Org | false | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | false | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | false | AssetExchangeInd |
| Rental Of Facilities To Oth Org | false | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | false | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | false | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | Yes (true) | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | false | SharingOfFacilitiesInd |
| Paid Employees Sharing | false | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | false | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | false | TransferToOtherOrgInd |
| Transfer From Other Org | false | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SEBCO DEVELOPMENT INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | M | TransactionTypeTxt |
| Involved | $316,022 | InvolvedAmt |
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