Decro Corporation
- Assets
- $174.3m
- Revenue
- $6.8m
- Investments
- $0.0
- Employees
- 6
- Location
- Culver City, CA
- Founding
- 10/1993
- Data as of
- 12/2021
- EIN
- 33-0362163
Organization Overview
Decro Corporation is located in Culver City, CA. The organization was established in 1993. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Decro Corporation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Decro Corporation 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 12/2021, Decro Corporation generated $6.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 59.6% each year . All expenses for the organization totaled $10.8m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION IS TO PROVIDE AFFORDABLE, SAFE AND WELL-MAINTAINED HOUSING AND SERVICES FOR LOW-INCOME FAMILIES AND SENIORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AS OF DECEMBER 31, 2021, THE CORPORATION OR THE CORPORATION'S WHOLLY OWNED ENTITIES ARE THE GENERAL PARTNER, CO-GENERAL PARTNER, DEVELOPMENT GENERAL PARTNER AND/OR LIMITED PARTNER IN 24 ENTITIES WHICH ALL OPERATE OR INTEND TO OPERATE LOW-INCOME AFFORDABLE HOUSING PROJECTS. THE CORPORATION ALSO PROVIDES MANAGEMENT SERVICES TO SIX CALIFORNIA NON-PROFIT PUBLIC BENEFIT CORPORATION'S THAT THAT WERE OR ARE THE MANAGING GENERAL PARTNER, CO-GENERAL PARTNER, DEVELOPMENT GENERAL PARTNER OR LIMITED PARTNER IN ENTITIES WHICH OPERATE LOW-INCOME HOUSING PROPERTIES. COLLECTIVELY THESE ENTITIES ARE ALL CONTROLLED BY A COMMON BOARD OF DIRECTORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jil Richman Chair | OfficerTrustee | 1 | $0 |
Alexander J Nweeia Treasurer | OfficerTrustee | 1 | $0 |
Randy Wirebaugh Secretary | OfficerTrustee | 1 | $0 |
Christian Von Merkatz Vice Chair | OfficerTrustee | 1 | $0 |
Laura Vandeweghe Chief Innovation Officer | Officer | 0.2 | $0 |
Ted Handel Chief Executive Officer | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $102,433 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $102,433 |
| Total Program Service Revenue | $6,414,461 |
| Investment income | -$653 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,831,184 |
| 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. | $445,865 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,191,622 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $214,671 |
| Payroll taxes | $117,835 |
| Fees for services: Management | $360,274 |
| Fees for services: Legal | $54,615 |
| Fees for services: Accounting | $333,860 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $703,259 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,167,898 |
| Travel | $1,220 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,008,998 |
| Insurance | $43,496 |
| All other expenses | $0 |
| Total functional expenses | $10,803,069 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,636,684 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,850,303 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $383,734 |
| Net Land, buildings, and equipment | $163,931,924 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $23,428 |
| Intangible assets | $0 |
| Other assets | $3,516,282 |
| Total assets | $174,342,355 |
| Accounts payable and accrued expenses | $16,445,034 |
| Grants payable | $0 |
| Deferred revenue | $97,855 |
| 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 | $128,850,690 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,170,437 |
| Total liabilities | $158,564,016 |
| Net assets without donor restrictions | $15,778,339 |
| 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 | $174,342,355 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Decro Corporation has recieved totaling $1,000,000.
| Awarding Organization | Amount |
|---|---|
United Way Inc Los Angeles, CA PURPOSE: HOUSING | $500,000 |
United Way Inc Los Angeles, CA PURPOSE: HOUSING | $500,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Marys Woods At Marylhurst Inc Lake Oswego, OR | $331,910,754 | $44,154,309 |
Kahala Senior Living Community Inc Honolulu, HI | $275,964,895 | $44,365,985 |
Humangood Fresno Duarte, CA | $99,958,177 | $30,814,211 |
Mirabella At South Waterfront Portland, OR | $173,639,306 | $25,337,918 |
Humangood Nevada Duarte, CA | $70,139,943 | $27,024,940 |
Dallas Mennonite Retirement Community Inc Dallas, OR | $84,334,175 | $25,845,409 |
Mirabella At Asu Inc Tempe, AZ | $298,424,373 | $6,088,723 |
Humangood Idaho Duarte, CA | $92,297,372 | $17,990,575 |
Sun Health Grandview Terrace Sun City West, AZ | $62,483,785 | $23,188,169 |
Asian Pacific Health Care Venture Inc Los Angeles, CA | $31,429,576 | $29,795,515 |
Hollenbeck Palms Los Angeles, CA | $91,601,425 | $22,351,666 |
899 Charleston Palo Alto, CA | $143,487,864 | $17,017,896 |