Sepp Inc
- Assets
- $8.8m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Binghamton, NY
- Founding
- 09/1969
- Data as of
- 06/2024
- EIN
- 16-0950820
Organization Overview
Sepp Inc is located in Binghamton, NY. The organization was established in 1969. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sepp Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2024, Sepp Inc generated $3.5m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 16.2% each year . All expenses for the organization totaled $1.0m during the year ending 06/2024. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING LOW-INCOME HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACQUIRING REAL ESTATE FOR THE SOLE PURPOSE OF DEVELOPING LOW-INCOME HOUSING PROJECTS FOR THE ELDERLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Len Basso Director | Trustee | 1 | $0 |
David Harder Director | Trustee | 1 | $0 |
Daniel Schofield Secretary | OfficerTrustee | 2 | $0 |
John Mauro Director | Trustee | 1 | $0 |
Stacey Duncan Director | Trustee | 1 | $0 |
Ethan Cook Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,765,433 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,765,433 |
| Total Program Service Revenue | $1,372,516 |
| Investment income | $171,617 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $37,643 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,495,294 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $329,376 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $41,723 |
| Payroll taxes | $18,246 |
| Fees for services: Management | $122,620 |
| Fees for services: Legal | $6,999 |
| Fees for services: Accounting | $9,984 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $12,686 |
| Fees for services: Other | $12,225 |
| Advertising and promotion | $3,669 |
| Office expenses | $11,741 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $65,842 |
| Travel | $3,250 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $61,945 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $86,680 |
| Insurance | $38,147 |
| All other expenses | $3,911 |
| Total functional expenses | $1,018,670 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $598,495 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $62,659 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $285,500 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $97,756 |
| Net Land, buildings, and equipment | $1,131,780 |
| Investments—publicly traded securities | $2,008,495 |
| Investments—other securities | $0 |
| Investments—program-related | $3,168,895 |
| Intangible assets | $0 |
| Other assets | $1,490,152 |
| Total assets | $8,843,732 |
| Accounts payable and accrued expenses | $81,554 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $950,541 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $42,707 |
| Total liabilities | $1,074,802 |
| Net assets without donor restrictions | $7,768,930 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $8,843,732 |