Nonprofit · EIN 13-2944013
SEBCO DEVELOPMENT INC
Tax-exempt · BRONX, NY 10455
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,818,129 | $2,109,497 | -$291,368 | $8,083,949 | $1,566,317 | $6,517,632 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $91,300
- of which government grants
- $65,845
- Program service revenue
- $499,641
- Investment income
- $109,761
- Other revenue
- $1,117,427
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $279,429
- Other salaries and wages
- $426,232
- Salaries, compensation and benefits (total)
- $836,539
- Professional fundraising fees
- $0
- Legal fees
- $432,571
- Accounting fees
- $37,461
- Occupancy
- $33,439
- Depreciation
- $2,240
- Program services (functional)
- $1,410,765
- Management and general (functional)
- $698,732
Balance sheet and other
- Total assets, start of year
- $8,745,293
- Total assets, end of year
- $8,083,949
- Total liabilities, end of year
- $1,566,317
- Net assets, end of year
- $6,517,632
- Land, buildings and equipment
- $12,600
- Net assets without donor restrictions
- $6,517,632
- Gross receipts
- $1,818,129
- Employees
- 41
- Volunteers
- 0
- Year formed
- 1978
- State of legal domicile
- NY
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs |
|---|---|---|---|---|
| JASON BOROFF | DIRECTOR Trustee or director | 0 | $0 | $296,549 |
| SALVATORE GIGANTE | CEO/DIRECTOR Trustee or director, Officer | 36 | $156,890 | $93,600 |
| SONAL SHAH | CONTROLLER Officer | 30 | $144,679 | $0 |
| ANGELA DAVIS FARRISH | CHIEF EXECUTIVE DIRECTOR Officer | 30 | $34,615 | $0 |
| ENRICO BOCCIA | CHAIR Trustee or director, Officer | 0 | $0 | $0 |
| EVELYN VELASQUEZ | TREASURER/SECRETARY Trustee or director, Officer | 0 | $0 | $0 |
| HENRY COMAS | DIRECTOR Trustee or director | 0 | $0 | $0 |
| VALERIE TORRES | DIRECTOR Trustee or director | 0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 429 BRUCKNER BLVD FL 2, BRONX, NY 10455-5007
- Principal officer (990 for 2024)
- SALVATORE GIGANTE, 429 BRUCKNER BLVD 2ND FLOOR, BRONX, NY 10455
- Signed the 990
- SALVATORE GIGANTE, CEO/DIRECTOR
- Phone
- (347) 726-2547
- Return prepared by
- LIPSKY GOODKIN & CO PC
Mission
SEBCO DEVELOPMENT INC. IS A NON PROFIT COMMUNITY BASED ORGANIZATION COMMITTED TO DEVELOPING AND MAINTAINING AFFORDABLE AND SAFE HOUSING IN THE CITY OF NEW YORK. SEBCO STRIVES TO CONTINUALLY PROVIDE WELL MAINTAINED, SECURE HOUSING ALONG WITH THE SUPPORTIVE SERVICES NEEDED TO IMPROVE THE QUALITY OF LIFE OF THE FAMILIES AND INDIVIDUALS WE SERVE IN OUR COMMUNITY.
Program accomplishments
- HOUSING DEVELOPMENT FOR LOW INCOME, ELDERLY AND THE DISABLED.Expenses $845,279
- ELDERLY NUTRITION PROGRAM UNDER CONTRACT WITH THE NEW YORK CITY DEPARTMENT FOR THE AGING.Expenses $499,641 · revenue $499,641
- SOCIAL SERVICES TO RESIDENTS OF THE HOUSING DEVELOPED BY THE ORGANIZATION TO STABILIZE THE NEIGHBORHOOD.Expenses $65,845 · revenue $65,845
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | No data |
IRS record
- EIN
- 13-2944013
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1979
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L210)
- Assets (IRS master file)
- $8,083,949
- Income (IRS master file)
- $1,818,129
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | – | – | – | IRS |
| 990 | April 2024 | – | – | – | IRS |
| 990 | April 2023 | $2,661,379 | $3,536,256 | $8,303,756 | IRS |
| 990 | April 2022 | $1,201,801 | $1,731,443 | $9,533,839 | IRS |
| 990 | April 2020 | – | – | – | IRS |
| 990 | April 2019 | – | – | – | IRS |
| 990 | April 2018 | – | – | – | IRS |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.
Questions about SEBCO DEVELOPMENT INC
- What is the EIN of SEBCO DEVELOPMENT INC?
- The employer identification number (EIN) of SEBCO DEVELOPMENT INC is 13-2944013.
- Is SEBCO DEVELOPMENT INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1979.
- Are donations to SEBCO DEVELOPMENT INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does SEBCO DEVELOPMENT INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of SEBCO DEVELOPMENT INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did SEBCO DEVELOPMENT INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of SEBCO DEVELOPMENT INC?
- The 990 for the year ended December 31, 2024 names SALVATORE GIGANTE.
- Who are the officers and directors of SEBCO DEVELOPMENT INC?
- The 990 for the year ended December 31, 2024 lists 8 people; 3 received compensation from the organization.
- How much revenue does SEBCO DEVELOPMENT INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,818,129, expenses of $2,109,497 and total assets of $8,083,949 at year end.
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