2024-11-12T11:34:41-05:00 2023-12-31 A GARY AARONSON CPA PLLC 42 WEST 38TH STREET SUITE 1003 NEW YORK NY 100180060 990 2023-01-01 133518596 SEBCOVIP HOUSING DEVELOPMENT FUND COMPANY INC SEBC 3477262547 429 BRUCKNER BLVD 2ND FLOOR BRONX NY 10455 SALVATORE GIGANTE VICE PRESIDENT 7186172800 2024-11-05 false A GARY AARONSON P01327657 2126845770 2024-11-12 X 2023 2024-10-15 13:58:12Z SALVATORE GIGANTE 386252 false X WWW.SEBCODEVELOPMENT.ORG X 1989 NY PROVIDE HOUSING FOR VERY LOW INCOME ELDERLY AND HANDICAPPED INDIVIDUALS UNDER SECTION 202 OF THE FEDERAL HOUSING ACT OF 1959 IN THE SOUTH BRONX AREA OF NEW YORK CITY, NEW YORK 3 2 0 0 0 0 0 369191 386252 369191 386252 0 0 0 0 0 250 250 250 250 368941 386002 7443007 7828759 14142 13892 7428865 7814867 PROVIDE HOUSING VERY LOW INCOME ELDERLY AND HANDICAPPED INDIVIDUALS UNDER SECTION 202 OF THE FEDERAL HOUSING ACT OF 1936 IN THE SOUTH BRONX AREA OF NEW YORK CITY, NEW YORK false false PROVIDED HOUSING FOR VERY LOW INCOME ELDERLY AND HANDICAPPED INDIVIDUALS UNDER SECTION 202 OF THE FEDERAL HOUSING AC OF 1936 IN THE SOUTH BRONX AREA OF NEW YORK CITY, NEW YORK. THE PROPERTY WAS SOLD FOR ITS FAIR MARKET VALUE AND WITH THE APPROVAL OF THE NEW YORK STATE DEPARTMENT OF LAW ON DECEMBER 30, 2014. PLEASE SEE SCHEDULE A, PART VI FOR FURTHER DETAILS. true false false false false false false false false false false true false true false false false false false false false false false false false false false false false true false false false false false false false false false false false false false true false false false true 0 0 0 false false false false false false false false false false false false false false false false false X 3 2 false false false false true true false true true false false true true true true true false false false false NY X SEBCO DEVELOPMENT INC 3477262547 429 BRUCKNER BLVD 2ND FLOOR BRONX NY 10455 ENRICO BOCCIA CHAIR 0.80 X X 0 0 0 EVELYN VELAZQUEZ TREASURER/SE 0.80 X X 0 0 0 SALVATORE GIGANTE VICE PRESIDE 40.00 X X 0 251995 0 SONAL SHAH CONTROLLER 35.00 X 0 139248 0 391243 false true false ACCRUED INTEREST RECEIVABLE 386252 386252 386252 386252 386252 NYS FILING FEES 250 250 250 0 250 0 4706750 4706750 2736257 3122009 7443007 7828759 14142 13892 14142 13892 X 7428865 7814867 7428865 7814867 7443007 7828759 386002 X false false false X X X 1 PIOVIP HOUSING DEVELOPMENT FUND COMPANY 471916490 7 true 0 0 1 0 true false false false false false false false false false false false false false false true SUPPLEMENTAL INFORMATION ACCRUED INTEREST RECEIVABLE 2,664,874 ON DECEMBER 30, 2014, THE ORGANIZATION SOLD ITS AFFORDABLE HOUSING APARTMENT HOUSE TO ANOTHER NON FOR PROFIT HOUSING DEVELOPMENT CORPORATION, PIO/VIP HOUSING DEVELOPMENT FUND CORPORATION (EIN: 47-1916490) WHICH COMBINED WITH ANOTHER SOLD AFFORDABLE HOUSING APARTMENT HOUSE. THE SALES WERE DONE TO OBTAIN FINANCING TO PROVIDE NEEDED CAPITAL IMPROVEMENT TO BOTH APARTMENT BUILDINGS. THE SALES WERE APPROVED BY THE UNITED STATES DEPARTMENT OF URBAN DEVELOPMENT, THE NEW YORK CITY DEPARTMENT OF HOUSING PRESERVATION AND DEVELOPMENT AND THE NEW YORK STATE ATTORNEY GENERAL. IT RECEIVED MORTGAGE OF 4,706,750, BEARING INTEREST AT THE RATE OF FIVE PERCENT PER YEAR. THE PRINCIPAL OF THE NOTE IS DUE DECEMBER 31, 2054. THE PRINCIPAL IS NOT AMORTIZED AND DUE IN FULL AT MATURITY. INTEREST IS ACCRUED AND PAYABLE ONLY FROM "AVAILABLE CASH" OF WHICH THERE HAD BEEN NONE. THE MORTGAGE NOTES IS NON-RECOURSE. FURTHER, THIS ORGANIZATION IS PROHIBITED BY THE TERMS OF THE NOTE TO OBTAIN A MONEY JUDGEMENT AGAINST PIO/VIP HOUSING DEVELOPMENT FUND CORPORATION. PURCHASE MONEY MORTGAGE 4706750 C 4706750 MORTGAGE NOTE INTEREST RECEIVABLE 2664874 NOTE RECEIVABLE RESERVES 457036 DUE FROM AFFILATE 99 3122009 false false false false false false false false false SALVATORE GIGANTE VICE PRESIDENT 251995 251995 FORM 990, PAGE 6, PART VI, LINE 6 THE ORGANIZATION'S SOLE MEMBER IS 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 REVIWED 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 PROVIDE UPON REQUEST. SEBCO DEVELOPMENT INC 429 BRUCKNER BLVD 2ND FLOOR BRONX NY 10455 132944013 DEVELOPMEN NY 501C3 7 NA N/A true false false false false false false false false false false false false false false false false false false false