Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 1979.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
94 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
6 people listed on the 990; $76K paid to officers and key staff.
Marcia Reddy’s $11K as CEO is at the 9th percentile of top reported officer pay among 852 $100K–1M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 1 named individual · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Marcia Reddy | $11,226 | $55,825 | $76,156 | $69,988 | $69,988 | $61,760 |
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 Skid Row Development Corporation executive salaries →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 15aNo
Programs and updates
Provides housing and economic development services to the Skid Row community.
Questions for Skid Row Development Corporation
Your first name shows with your question. Skid Row Development Corporation answers here, for everyone.
Skid Row Development Corporation (SRDC) operates 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.
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.
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.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $150K | $104K |
| InvestmentsLn 11–13 | $0 | |
| Land, buildings, equipmentLn 10c | $85K | $93K |
| Total assetsLn 16 | $316K | $266K |
| LiabilitiesLn 26 | $2.1M | $2.5M |
| Net assetsLn 32 | −$1.8M | −$2.2M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $0 | |||
| Grants to domestic individualsLn 2 | $0 | |||
| Grants and assistance to foreign recipientsLn 3 | $0 | |||
| Benefits paid to or for membersLn 4 | $0 | |||
| Pay of current officers, directors and key staffLn 5 | $76K | $76K | ||
| Pay of disqualified personsLn 6 | $0 | |||
| Other salaries and wagesLn 7 | $528K | $491K | $36K | |
| Pension plan contributionsLn 8 | $0 | |||
| Other employee benefitsLn 9 | $85K | $67K | $17K | |
| Payroll taxesLn 10 | $57K | $53K | $4K | |
| Management feesLn 11a | $0 | |||
| Legal feesLn 11b | $4K | $4K | ||
| Accounting feesLn 11c | $0 | |||
| Lobbying feesLn 11d | $0 | |||
| Professional fundraising feesLn 11e | $0 | |||
| Investment management feesLn 11f | $0 | |||
| Other fees for servicesLn 11g | $24K | $24K | $231 | |
| Advertising and promotionLn 12 | $0 | |||
| Office expensesLn 13 | $0 | |||
| Information technologyLn 14 | $35K | $29K | $6K | |
| RoyaltiesLn 15 | $0 | |||
| OccupancyLn 16 | $359K | $355K | $4K | |
| TravelLn 17 | $0 | |||
| Travel and entertainment for public officialsLn 18 | $0 | |||
| Conferences, conventions and meetingsLn 19 | $3K | $2K | $2K | |
| InterestLn 20 | $0 | |||
| Payments to affiliatesLn 21 | $0 | |||
| Depreciation, depletion and amortizationLn 22 | $0 | |||
| InsuranceLn 23 | $18K | $16K | $2K | |
| Other expenses (24a–d)Ln 24 | $49K | $46K | $2K | |
| All other expensesLn 24e | $2K | $36 | $2K | |
| Total functional expensesLn 25 | $1.2M | $1.2M | $75K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 LatestFiled with the IRS May 13, 2026 | $583K | $1.4M | −$858K | −$13.1M | 990 PDF |
| FY2024Filed with the IRS May 14, 2025 | $701K | $1.3M | −$575K | −$12.2M | 990 PDF |
| FY2023 ViewingFiled with the IRS May 13, 2024 | $784K | $1.2M | −$456K | −$2.2M | 990 PDF |
| FY2022Filed with the IRS May 15, 2023 | $1.2M | $1.4M | −$175K | −$1.8M | 990 PDF |
| FY2021Filed with the IRS May 12, 2022 | $1.1M | $1.4M | −$309K | −$1.6M | 990 PDF |
| FY2020Filed with the IRS Jan 20, 2022 | $1.2M | $1.4M | −$212K | −$1.2M | 990 PDF |
Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $783,967 revenue, 12 lines filed
Part VI · Governance 4 of 4 board members independent, 3 to look at
Part VIII · Statement of revenue $783,967 across 11 lines filed
Part IX · Statement of functional expenses $1,239,987 across 31 lines filed
Part X · Balance sheet $266,051 assets, 20 lines filed
Part XI · Reconciliation of net assets −$2,214,428 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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