Decro Corporation FY2021 filing

Tax-deductible

Culver City, CA501(c)(3)Since 1989EIN 33-0362163Revenue $6.8M in FY2021

On file with the IRSdecro.org3431 Wesley St Ste F, 90232-2365 · Culver City, CATax-exempt since Oct 1993Publicly supported charity — 170(b)(1)(A)(vi)

This page gets seen. Tell your story. Claim this org.

The Corporation is to provide affordable, safe and well-maintained housing and services for low-income families and seniors.

501(c)(3) charity; gifts are tax-deductible.
95¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $3.5M a year · 40% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
5 mo
of spending, in cash
Looks good: 5.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $2.2M
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$158.6M
91% of total assets
Concern: liabilities are 91% of assets; over 80%.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$6.8M
+129% vs prior year
Spent
$10.8M
To programs
95%
Net assets
$15.8M
By yearFY2020–FY2024
Revenue
$6.8M
FY2021▲ +129%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.0M
FY2021$6.8M
FY2022$8.1M
FY2023$10.8M
FY2024$15.2M
Expenses
$10.8M
FY2021▲ +582%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.6M
FY2021$10.8M
FY2022$11.1M
FY2023$17.5M
FY2024$20.4M
Net assets
$15.8M
FY2021▲ +98%
Tap a bar for its year
Net assets by fiscal year
FY2020$8.0M
FY2021$15.8M
FY2022$10.7M
FY2023$10.4M
FY2024$5.2M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

Give Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1993.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $10.2M Management & general 5% · $565K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? The org can add a note here. Claim this org to fix it.

Who runs it and what they're paid

12 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Compensation history total reportable pay by year · 6 named individuals · Part VII

NameFY2024FY2023FY2020
Ted Handel$288,493$262,500$230,161
Laura Vandeweghe—$242,500$198,625
Terri O'Hara$170,342$142,900—
Erin Foreman$170,151$152,500—
Nicole Willick$164,651$150,600—
Emmanuel Choice$123,719$115,000—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Decro Corporation executive salaries →

Are you one of these people? Claim this org to confirm your role

Something off? The org can add a note here. Claim this org to fix it.

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides affordable, safe housing and services for low-income families and seniors.

Questions for Decro Corporation

Tap to ask. Decro Corporation sees how many people are interested.

Your first name shows with your question. Decro Corporation answers here, for everyone.

Provided by the organization

Know this organization? Claim it to add your story

1 program · $10.2M · in their own filed words · FY2021
01

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.

$10.2Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$2.2M

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$6.8M
Ln 12
Fees for servicesLn 2g$6.4M
Other incomeLn 4–11$314K
Gifts and grantsLn 1h$102K
Money outPt IX
$10.8M
Ln 25
Programscol B$10.2M
Managementcol C$565K
Owns and owesPt X
$15.8M
net assets · Ln 32
Cash and savingsLn 1–2$4.6M
Total assetsLn 16$174.3M
LiabilitiesLn 26$158.6M
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$102K
Fees for servicesLn 2g$6.4M
Investment incomeLn 3−$653
Other incomeLn 4–11$314K
Total revenueLn 12$6.8M
Assets in detailPt X, end of year
CashLn 1$4.6M
Cash and savings togetherLn 1–2$4.6M
InvestmentsLn 11–13$23K
Land, buildings, equipmentLn 10c$163.9M
Other assetsLn 15$3.5M
Total assetsLn 16$174.3M
LiabilitiesLn 26$158.6M
Net assetsLn 32$15.8M
OperationsPt I, VI
EmployeesI 56
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$1.0M$4.6M
InvestmentsLn 11–13$1.3M$23K
Land, buildings, equipmentLn 10c$15K$163.9M
Total assetsLn 16$9.2M$174.3M
LiabilitiesLn 26$1.3M$158.6M
Net assetsLn 32$8.0M$15.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$446K$446K
Other salaries and wagesLn 7$1.2M$1.1M$131K
Other employee benefitsLn 9$215K$215K
Payroll taxesLn 10$118K$66K$52K
Management feesLn 11a$360K$360K
Legal feesLn 11b$55K$55K
Accounting feesLn 11c$334K$246K$88K
Office expensesLn 13$703K$465K$239K
OccupancyLn 16$5.2M$5.1M$48K
TravelLn 17$1K$1K
Depreciation, depletion and amortizationLn 22$2.0M$2.0M$7K
InsuranceLn 23$43K$43K
Other expenses (24a–d)Ln 24$159K$159K
Total functional expensesLn 25$10.8M$10.2M$565K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $15.2M$20.4M−$5.2M$5.2M 990 PDF
FY2023 $10.8M$17.5M−$6.7M$10.4M 990 PDF
FY2022 $8.1M$11.1M−$3.0M$10.7M 990 PDF
FY2021 Viewing $6.8M$10.8M−$4.0M$15.8M 990 PDF
FY2020 $3.0M$1.6M$1.4M$8.0M 990 PDF

Want to add your own materials alongside these filings? Claim this org

Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $6,831,184 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $6,440$102,433
I-9 Program service revenuePrior year $3,070,542$6,414,461
I-10 Investment incomePrior year $0−$653
I-11 Other revenuePrior year −$89,202$314,943
I-12 Total revenuePrior year $2,987,780$6,831,184
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $991,163$1,969,993
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $593,143$8,833,076
I-18 Total expensesPrior year $1,584,306$10,803,069
I-19 Revenue less expensesPrior year $1,403,474−$3,971,885
Part VI · Governance 8 of 8 board members independent, no flags
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $6,831,184 across 6 lines filed
Lines not itemized here account for −$51 of total revenue; see the IRS return.
VIII-1b Membership dues$102,433
VIII-1h Total contributions, gifts and grants$102,433
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $6,414,461$6,414,461
VIII-3 Investment incomeExcluded from tax −$653−$653
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $314,994$314,994
VIII-12 Total revenueRelated to mission $6,414,461 · Unrelated business $0 · Excluded from tax $314,290$6,831,184
Part IX · Statement of functional expenses $10,803,069 across 13 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $445,865$445,865
IX-7 Other salaries and wagesPrograms $1,060,746 · Management $130,876$1,191,622
IX-9 Other employee benefitsPrograms $214,671$214,671
IX-10 Payroll taxesPrograms $65,660 · Management $52,175$117,835
IX-11a Management feesPrograms $360,274$360,274
IX-11b Legal feesPrograms $54,615$54,615
IX-11c Accounting feesPrograms $245,910 · Management $87,950$333,860
IX-13 Office expensesPrograms $464,540 · Management $238,719$703,259
IX-16 OccupancyPrograms $5,120,018 · Management $47,880$5,167,898
IX-17 TravelPrograms $1,220$1,220
IX-22 Depreciation, depletion and amortizationPrograms $2,001,776 · Management $7,222$2,008,998
IX-23 InsurancePrograms $43,496$43,496
IX-24 Other expenses (24a–d)Programs $159,456$159,456
IX-25 Total functional expensesPrograms $10,238,247 · Management $564,822 · Fundraising $0$10,803,069
Part X · Balance sheet $174,342,355 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $1,024,742$4,636,684
X-4 Accounts receivableStart of year $6,826,076$1,850,303
X-9 Prepaid expenses and deferred chargesStart of year $1,383$383,734
X-10c Land, buildings and equipment, netStart of year $15,360$163,931,924
X-13 Program-related investmentsStart of year $1,310,717$23,428
X-15 Other assetsStart of year $18,869$3,516,282
X-16 Total assetsStart of year $9,205,675$174,342,355
X-17 Accounts payable and accrued expensesStart of year $377,153$16,445,034
X-19 Deferred revenue$97,855
X-25 Other liabilitiesStart of year $250,000$13,170,437
X-26 Total liabilitiesStart of year $1,250,553$158,564,016
X-27 Net assets without donor restrictionsStart of year $7,955,122$15,778,339
X-32 Total net assets or fund balancesStart of year $7,955,122$15,778,339
X-33 Total liabilities and net assetsStart of year $9,205,675$174,342,355
Part XI · Reconciliation of net assets $15,778,339 net assets at year end
XI-1 Total revenue$6,831,184
XI-2 Total expenses$10,803,069
XI-3 Revenue less expenses−$3,971,885
XI-4 Net assets at start of year$7,955,122
XI-8 Prior period adjustments$11,795,102
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$15,778,339

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.