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SEBCO HOUSING DEVELOPMENT FUND COMPANY INC
BRONX, NY · EIN 133180527 · Form 990 · FY2024 · NTEE L210 · Housing & Shelter · Medium ($1M-$10M) · sebcodevelopment.org
revenue
$1.7M
expenses
$2.1M
net assets
$-4.2M
employees
7
program ratio
95%
mission · from form 990

PROVIDE AFFORDABLE HOUSING FOR THE ELDERLY AND HANDICAPPED UNDER SECTION 202 OF THE FEDERAL HOUSING ACT OF 1959.

profile · synthesized from sources

SEBCO Housing Development Fund Company Inc provides affordable housing for low- and moderate-income residents, with a focus on the elderly and handicapped, in the South Bronx. The organization develops and manages multifamily housing units and operates homeless shelters and senior centers under city contracts. Since 1975, it has developed over 6,000 housing units across approximately 450 buildings.

named programs · 6 · from sources

What they call their work

Crotona Belmont
134-unit affordable housing development in the Bronx
Father Smith Residence – DHS Single Men Shelter
56-unit shelter for single men operated under contract with NYC Department of Homeless Services
Freeman Houses – Family Shelter
22-unit family shelter providing temporary housing
Hunts Point II
429-unit affordable housing development, one of SEBCO's largest projects
SEBCO Houses of the Elderly
Housing program specifically serving elderly residents, with 92 units developed in 1985
Sister Thomas Apartments
105-unit affordable housing development for low- and moderate-income residents, developed in 2008
activities · 1 group

What they do

  • Affordable Housing Development and Management 2 activities
    • Development and operation of affordable housing units
      Develops, constructs, and operates affordable housing units across the South Bronx, including over 6,000 units in approximately 450 buildings, with individual projects ranging from 32 to 429 units. Projects include both new construction and rehabilitation of properties, many under federal programs such as HUD Section 8 and Section 202.
    • Operation of homeless shelters and senior centers under city contracts
      Operates two homeless shelters under contract with the NYC Department of Homeless Services and two senior citizen centers under contract with the NYC Department for the Aging, providing targeted housing and support services for vulnerable populations.
financials · form 990 · fy2024
revenue
Total revenue$1.67M
Contributions & grants$00%
Program service revenue$1.66M100%
Investment income$3K0%
Other revenue$0
expenses
Total expenses$2.05M
Program expenses95%
Admin / overhead5%
Fundraising0%
Salaries & benefits$134K
Grants paid out$0
Largest expense lineFacilities
balance sheet
Total assets$1.49M
Cash$49K
Investments$0
Liabilities$5.73M
Net assets$-4.24M
Liquid reserves0.3 mo
3 years on record · 2020–2024 · YoY revenue -2.2%
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 3
NameTitleHours/wkCompensation
SALVATORE GIGANTE VICE PRESIDENT 1 $250K
SONAL SHAH CONTROLLER 1 $145K
ANGELA DAVIS FARRISH EXECUTIVE OFFICER 0 $35K
board members · 2
  • ENRICO BOCCIA — CHAIR
  • EVELYN VELAZQUEZ — TREASURER/SECRETARY
relationships · 11

Who they work with

  • Enterprise Foundation Funder — Provided funding support for SEBCO's housing development initiatives.
  • Instagram Network — Has an Instagram account to share organizational updates
  • LinkedIn Network — Has a presence on LinkedIn to share organizational updates
  • Local Initiative Support Corp Funder — Provided funding support for SEBCO's housing development initiatives.
  • NYC Department for the Aging Government — Contracts SEBCO to operate two senior citizen centers.
  • NYC Department of Homeless Services Government — Contracts SEBCO to operate two homeless shelters.
  • NYC Department of Housing Preservation and Development Government — Provided funding and support for SEBCO's housing development initiatives.
  • NYS Division of Housing and Community Renewal Government — Provided funding and support for SEBCO's housing development initiatives.
  • NYS Housing Finance Agency Government — Provided funding and support for SEBCO's housing development initiatives.
  • South East Bronx Community Organization Partner — SEBCO HOUSING DEVELOPMENT FUND COMPANY INC operates as part of or in close affiliation with the South East Bronx Community Organization to provide housing and supportive services.
  • U.S. Department of Housing and Urban Development Government — Approved SEBCO's first subsidized rehabilitation project and subsequent HUD Section 8 projects.
strategies · 3

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.