Skid Row Development Corp
- Assets
- $316.4k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 29
- Location
- Los Angeles, CA
- Founding
- 01/1979
- Data as of
- 06/2022
- EIN
- 95-3288131
Organization Overview
Skid Row Development Corp is located in Los Angeles, CA. The organization was established in 1979. According to its NTEE Classification (L41) the organization is classified as: Homeless Shelters, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Skid Row Development Corp employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Skid Row Development Corp 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 06/2022, Skid Row Development Corp generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 18.2% each year . All expenses for the organization totaled $1.4m during the year ending 06/2022. While expenses have increased by 7.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PRINCIPAL PURPOSE OF THE SKID ROW DEVELOPMENT CORPORATION IS TO INCREASE ECONOMIC DEVELOPMENT OPPORTUNITIES AND SOCIAL SERVICES TO THE COMMUNITY DIRECTLY EAST OF DOWNTOWN LOS ANGELES, COMMONLLY KNOWN AS "SKID ROW". THIS PURPOSE SHALL BE SERVED BY PROVIDING HOUSING AND ECONOMIC DEVELOPMENT SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROPERTY MANAGEMENT - SKID ROW DEVELOPMENT CORPORATION (SRDC) PROVDIES PROPERTY MANAGEMENT SERVICES TO TWO LOW-INCOME SINGLE ROOM OCCUPANCY HOTELS (NORBO HOTEL AND MARION HOTEL) WHICH ARE LOCATED IN THE DOWNTOWN SKID ROW COMMUNITY OF LOS ANGELES.NORBO HOTEL IS A 57-UNIT 4-STORY STRUCTURE WITH SINGLE-ROOM OCCUPANCY WITH COMMERCIAL SPACE ON THE GROUND FLOOR. AMENITIES INCLUDE SEMI-FURNISHED ROOMS WHICH CONSIST OF A BED, A REFRIGERATOR, AND A CLOSET. BATHROOMS AND SHOWERS ARE LOCATED IN THE ROOMS AND SEVERAL ARE LOCATED AT EACH FLOOR TO ACCOMODATE TENANTS ON THEIR FLOORS. ALSO, THERE IS A LAUNDRY FACILITY AND A COMMUNITY KITCHEN BOTH LOCATED ON THE FIRST FLOOR.MARION HOTEL IS A 44-UNIT 3-STORY STRUCTURE WITH SINGLE-ROOM OCCUPANCY. AMENITIES INCLUDE SEMI-FURNISHED ROOMS WHICH CONSIST OF A BED, A REFRIGERATOR, AND A SINK. BATHROOMS AND SHOWERS ARE NOT LOCATED IN THE ROOM AND SEVERAL ARE LOCATED AT EACH FLOOR TO ACCOMODATE TENANTS ON THEIR FLOORS. ALSO, THERE IS A LAUNDRY FACILITY AND A COMMUNITY KITCHEN BOTH LOCATED ON THE FIRST FLOOR.
THE GRANT FOR THE BENIFT OF HOMELESS INDIVIDUALS (GBHI)PROGRAM BY THE DEPARTMENT OF HEALTH AND HUMAN SERVICES SUBSTANCE ABUSE AND MENTAL HEALTH SERVICES ADMINISTRATION(SAMHSA) AND THE EMERGENCY FOOD AND SHELTER (EFSP) PROGRAMS. THE ORGANIZATION OPERATES AN OUTPATIENT SUBSTANCE ABUSE AND MENTAL HEALTH SERIVCES PROGRAM FOR HOMELESS INDIVIDUALS. THE PROGRAM OPERATES FIVE DAYS A WEEK AT NO COST TO THE HOMELESS INDIVIDUALS. THE ORGANIZATION ALSO PROVIDES EMERGENCY FOOD AND SHELTER FOR TEH LOS ANGELES SKID ROW COMMUNITY.
KING BOULEVARD APARTMENTS - SRDC OPERATES THREE APARTMENT BUILDINGS EMERGENCY FOOD AND SHELTER FOR TEH LOS ANGELES SKID ROW COMMUNITY. CONTAINING A TOAL OF 17 RESIDENTIAL RENTAL UNITS. THE UNITS ARE OCCUPIED BY GRADUATES OF SRDC'S TRANSITION HOUSE PROEJCT AND OTHER LOW-INCOME TENANTS. FOR SOCIAL SERVICES AVAILABLE UPON REQUEST, AND ON-SITE ALCOHOL & DRUG COUNSELING SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marcia Reddy CEO | Officer | 40 | $69,988 |
Robert Pratt Chairman | OfficerTrustee | 0 | $0 |
Anita Nelson Treasurer | OfficerTrustee | 0 | $0 |
Marcus Butler Board Member | Trustee | 0 | $0 |
Roy Gardener Board Member | Trustee | 0 | $0 |
Nancy Huntington Secretary | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $391,972 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,564 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $394,536 |
| Total Program Service Revenue | $660,318 |
| Investment income | $0 |
| 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 | $1,222,652 |
| 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. | $69,998 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $633,027 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $82,540 |
| Payroll taxes | $67,644 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,450 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $87,282 |
| Advertising and promotion | $0 |
| Office expenses | $16,510 |
| Information technology | $21,192 |
| Royalties | $0 |
| Occupancy | $312,011 |
| Travel | $5,410 |
| 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 | $0 |
| Insurance | $64,443 |
| All other expenses | $0 |
| Total functional expenses | $1,397,775 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $148,407 |
| Savings and temporary cash investments | $2,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $71,547 |
| 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 | $8,180 |
| Net Land, buildings, and equipment | $84,838 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,396 |
| Total assets | $316,368 |
| Accounts payable and accrued expenses | $58,695 |
| 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 | $642,501 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,372,184 |
| Total liabilities | $2,073,380 |
| Net assets without donor restrictions | -$1,757,012 |
| 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 | $316,368 |