The S. B. College was founded by a private trust named as Dnyanvardhini in August 1984, to cater to the educational needs of tribal and backward communities of Shahapur taluka of Thane district of Maharashtra. The college functioned on non-grant basis from 1984 to 1988, and thereafter got its full 100 percent grant from the Maharashtra government. The college is affiliated to the University of Mumbai. It is spread over an area of 6.5 acres.

The college that started with only 99 students in 1984, has now 1726 students (1003 males and 723 females) on its rolls. Out of the total number of students, 86 per cent are from the tribal, scheduled caste and other backward communitises and the remaining 14 per cent from the general category. Presently, 41 per cent of the students are female students, out of which 85 per cent belong to the tribal and other backward communities. The college now offers 6 academic programmes: Five at the undergraduate level (UG)- B.A., B.com., B.Sc.I.T., B.Com with Banking & Insurance and B.Com with Accounting & Finance , one at the post graduate level (PG)- M.A. in Marathi, Hindi, English, History and Economics. Besides, the college is also managing the Study Centre of Yashwantrao Chavan Maharashtra Open University (Y.C.M.O.U.), Nasik for UG level program in Arts and Commerce.