Sebco Development Inc

Bronx, NY
Tax-exempt since Feb. 1979
EIN: 13-2944013

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Housing, Shelter / Public Housing Facilities (NTEE)

Donations to this organization are tax deductible.

Details

According to its April 2023 tax filing, this nonprofit:

Reported conflict of interest transactions

Organizations must report loans, grants or business transactions with interested parties, which may include key employees and officers, their family members and any businesses in which they hold a controlling interest. These transactions must be reported on Schedule L.

Revenue

$2.66M (2023)

Expenses

$3.54M (2023)

Total Assets

$8.3M (2023)

Total Liabilities

$1.06M (2023)

Years with missing data

Source: Form 990 tax filings from 2011 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending April
2023

Revenue

$2,661,379

Expenses

$3,536,256

Net Income

-$874,877

Net Assets

$7,242,543

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$120,727	4.5%
Program Services	$687,871	25.8%
Investment Income	$145,324	5.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$1,707,457	64.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$368,617	10.4%
Professional Fundraising Fees	$0
Other Salaries and Wages	$616,063	17.4%

Assets/Debt
Total Assets	$8,303,756
Total Liabilities	$1,061,213
Net Assets	$7,242,543

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Salvatore Gigante (Ceo/Director)	$171,635	$99,248	$0
Sonal Shah (Controller)	$166,982	$0	$0
Louis R Gigante (Director)	$30,000	$0	$0
Enrico Boccia (Chair)	$400	$0	$0
Carmen Reyes (Treasurer/Se)	$400	$0	$0
Evelyn Velasquez (Director)	$400	$0	$0
Victor Papa (Director)	$200	$0	$0
Valerie Torres (Director)	$200	$0	$0
Jason Boroff (Director)	$0	$275,309	$0

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990

Filed on Jan. 8, 2024

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending April
2022

Revenue

$1,201,801

Expenses

$1,731,443

Net Income

-$529,642

Net Assets

$8,117,420

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$193,553	16.1%
Program Services	$504,302	42.0%
Investment Income	$123,392	10.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$380,554	31.7%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$100,000	5.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$689,306	39.8%

Assets/Debt
Total Assets	$9,533,839
Total Liabilities	$1,416,419
Net Assets	$8,117,420

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Louis R Gigante (Director)	$100,000	$0	$0
Enrico Boccia (Chair)	$1,000	$0	$0
Carmen Reyes (Treasurer)	$1,000	$0	$0
Victor Papa (Director)	$1,000	$0	$0
Migdalia Morales (Director)	$200	$0	$0
Salvatore Gigante (Secretary/Co)	$0	$825,206	$0
Jason Boroff (Director)	$0	$96,224	$0

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990

Filed on March 15, 2023

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Fiscal Year Ending April
2020

Revenue

$1,861,678

Expenses

$1,930,054

Net Income

-$68,376

Net Assets

$8,471,286

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$167,971	9.0%
Program Services	$525,652	28.2%
Investment Income	$127,693	6.9%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$1,040,362	55.9%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$790,406	41.0%

Assets/Debt
Total Assets	$9,437,019
Total Liabilities	$965,733
Net Assets	$8,471,286

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Enrico Boccia (Director)	$0	$0	$0
Fr Louis R Gigante (Chairperson)	$0	$0	$0
Carmen Reyes (Treasurer/Di)	$0	$0	$0
Alejandro Rosado (Director)	$0	$0	$0
Irwin Siegel (Direct & Cou)	$0	$0	$0
Salvatore Gigante (Exec Vice Pr)	$0	$0	$0

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990

Filed on March 15, 2021

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending April
2019

Revenue

$2,000,898

Expenses

$1,848,779

Net Income

$152,119

Net Assets

$8,517,333

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$308,777	15.4%
Program Services	$545,937	27.3%
Investment Income	$157,004	7.8%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$989,180	49.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$775,708	42.0%

Assets/Debt
Total Assets	$9,560,480
Total Liabilities	$1,043,147
Net Assets	$8,517,333

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Fr Louis R Gigante (Chairperson)	$0	$0	$0
Carmen Reyes (Treasurer/Di)	$0	$0	$0
Enrico Boccia (Director)	$0	$0	$0
Alejandro Rosado (Director)	$0	$0	$0
Salvatore Gigante (Chief Operat)	$0	$0	$0

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990

Filed on March 5, 2020

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Fiscal Year Ending April
2018

Revenue

$1,993,017

Expenses

$1,814,792

Net Income

$178,225

Net Assets

$8,349,689

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$327,567	16.4%
Program Services	$457,858	23.0%
Investment Income	$191,849	9.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$1,015,743	51.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$734,685	40.5%

Assets/Debt
Total Assets	$9,081,185
Total Liabilities	$731,496
Net Assets	$8,349,689

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Fr Louis R Gigante (Chairperson)	$0	$0	$0
Carmen Reyes (Treasurer/Di)	$0	$0	$0
Enrico Boccia (Director)	$0	$0	$0
Alejandro Rosado (Director)	$0	$0	$0
Irwin Siegel (Direct & Cou)	$0	$0	$0
Salvatore Gigante (Exec Vice Pr)	$0	$0	$0

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990

Filed on Feb. 18, 2019

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Fiscal Year Ending April
2017

Revenue

$1,875,594

Expenses

$2,149,399

Net Income

-$273,805

Net Assets

$8,171,464

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$261,827	14.0%
Program Services	$824,107	43.9%
Investment Income	$127,066	6.8%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$662,594	35.3%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$635,839	29.6%

Assets/Debt
Total Assets	$9,214,882
Total Liabilities	$1,043,418
Net Assets	$8,171,464

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
Carmen Reyes (Treasurer/Di)	$800	$0	$0
Fr Louis R Gigante (Chairperson)	$0	$0	$0
Enrico Boccia (Director)	$0	$0	$0
Alejandro Rosado (Director)	$0	$0	$0
Irwin Siegel (Direct & Cou)	$0	$0	$0
Salvatore Gigante (Exec Vice Pr)	$0	$0	$0

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990

Filed on Jan. 8, 2018

Primary tax return for a nonprofit’s activities, finances, and governance

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XML

Fiscal Year Ending April
2016

Revenue

$6,192,961

Expenses

$2,533,220

Net Income

$3,659,741

Net Assets

$8,492,808

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$270,546	4.4%
Program Services	$1,010,517	16.3%
Investment Income	$175,801	2.8%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$4,736,097	76.5%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$717,085	28.3%

Assets/Debt
Total Assets	$10,121,964
Total Liabilities	$1,629,156
Net Assets	$8,492,808

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

PDF (2 of 2)

Fiscal Year Ending April
2015

Revenue

$3,335,979

Expenses

$2,922,062

Net Income

$413,917

Net Assets

$4,833,067

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$253,956	7.6%
Program Services	$967,461	29.0%
Investment Income	$5,725	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$2,108,837	63.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$784,780	26.9%

Assets/Debt
Total Assets	$6,041,829
Total Liabilities	$1,208,762
Net Assets	$4,833,067

The IRS has provided extracted financial data for this filing, but has not yet released the source documents.

Fiscal Year Ending Dec.
2014

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending April
2014

Revenue

$2,208,570

Expenses

$2,223,734

Net Income

-$15,164

Net Assets

$3,558,840

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$238,818	10.8%
Program Services	$1,079,882	48.9%
Investment Income	$4,345	0.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$885,525	40.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$723,503	32.5%

Assets/Debt
Total Assets	$4,643,544
Total Liabilities	$1,084,704
Net Assets	$3,558,840

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending April
2013

Revenue

$1,791,774

Expenses

$1,894,124

Net Income

-$102,350

Net Assets

$3,574,004

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$259,298	14.5%
Program Services	$705,478	39.4%
Investment Income	$6,092	0.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$820,906	45.8%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$777,051	41.0%

Assets/Debt
Total Assets	$4,729,419
Total Liabilities	$1,155,415
Net Assets	$3,574,004

990

Filed on March 13, 2014

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending April
2012

Revenue

$1,000,321

Expenses

$1,111,261

Net Income

-$110,940

Net Assets

$3,676,354

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$228,024	22.8%
Program Services	$467,298	46.7%
Investment Income	$13,630	1.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$291,369	29.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$729,553	65.7%

Assets/Debt
Total Assets	$4,310,363
Total Liabilities	$634,009
Net Assets	$3,676,354

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending April
2011

Revenue

$1,002,336

Expenses

$1,159,222

Net Income

-$156,886

Net Assets

$3,787,294

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$251,438	25.1%
Program Services	$454,885	45.4%
Investment Income	$17,592	1.8%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$278,421	27.8%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$712,915	61.5%

Assets/Debt
Total Assets	$4,693,068
Total Liabilities	$905,774
Net Assets	$3,787,294

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

PDF (2 of 2)

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Updated December 2, 2024

Sebco Development Inc

Organization summary

Type of Nonprofit

Details

Summary charts: organization finances over time

Revenue $2.66M (2023)

Expenses $3.54M (2023)

Total Assets $8.3M (2023)

Total Liabilities $1.06M (2023)

Tax Filings by Year

Fiscal Year Ending April 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending April 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

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Fiscal Year Ending April 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

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Fiscal Year Ending April 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

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Fiscal Year Ending April 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

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Fiscal Year Ending April 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

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Fiscal Year Ending April 2016

Extracted Financial Data

Extracted Financial Data from Form 990

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990

Fiscal Year Ending April 2015

Extracted Financial Data

Extracted Financial Data from Form 990

No Document Links

Fiscal Year Ending Dec. 2014

No Extracted Financial Data

Document Links

990

Fiscal Year Ending April 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending April 2013

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending April 2012

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Revenue

$2.66M (2023)

Expenses

$3.54M (2023)

Total Assets

$8.3M (2023)

Total Liabilities

$1.06M (2023)

Fiscal Year Ending April
2023

Fiscal Year Ending April
2022

Fiscal Year Ending April
2020

Fiscal Year Ending April
2019

Fiscal Year Ending April
2018

Fiscal Year Ending April
2017

Fiscal Year Ending April
2016

Fiscal Year Ending April
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending April
2014

Fiscal Year Ending April
2013

Fiscal Year Ending April
2012

Fiscal Year Ending April
2011

Fiscal Year Ending April
2010

Fiscal Year Ending April
2009

Fiscal Year Ending April
2008

Fiscal Year Ending April
2007

Fiscal Year Ending April
2006

Fiscal Year Ending April
2005

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2004

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2003

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2002

Fiscal Year Ending April
2001