Decro Corporation
- Assets
- $254.6m
- Revenue
- $10.8m
- Investments
- $0.0
- Employees
- 10
- Location
- Culver City, CA
- Founding
- 10/1993
- Data as of
- 12/2023
- 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 12/2023, Decro Corporation employed 10 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 12/2023, Decro Corporation generated $10.8m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 51.4% each year . All expenses for the organization totaled $17.5m during the year ending 12/2023. While expenses have increased by 59.9% per year over the past 9 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
2023
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, 2023, 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 CORPORATIONS 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 |
|---|---|---|---|
Christian Von Merkatz Chair | OfficerTrustee | 1 | $0 |
Irene Choi Vice Chair | OfficerTrustee | 1 | $0 |
Alexander J Nweeia Treasurer | OfficerTrustee | 1 | $0 |
Meg Babakhanian Secretary | OfficerTrustee | 1 | $0 |
Paul Pieroth Director | Trustee | 1 | $0 |
J Warren Avery Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,267,034 |
| 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 | $1,267,034 |
| Total Program Service Revenue | $8,590,105 |
| Investment income | $4,731 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $546,416 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,782,632 |
| 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. | $511,300 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,664,793 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $320,203 |
| Payroll taxes | $477,887 |
| Fees for services: Management | $406,347 |
| Fees for services: Legal | $194,341 |
| Fees for services: Accounting | $129,514 |
| 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 | $1,592,121 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,243,942 |
| Travel | $740 |
| 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 | $3,649,297 |
| Insurance | $56,717 |
| All other expenses | $0 |
| Total functional expenses | $17,458,101 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,753,430 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,263,568 |
| 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 | $348,243 |
| Net Land, buildings, and equipment | $236,316,776 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $6,583 |
| Intangible assets | $0 |
| Other assets | $6,942,242 |
| Total assets | $254,630,842 |
| Accounts payable and accrued expenses | $20,296,436 |
| Grants payable | $0 |
| Deferred revenue | $12,850 |
| 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 | $213,394,644 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,501,995 |
| Total liabilities | $244,205,925 |
| Net assets without donor restrictions | $10,424,917 |
| 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 | $254,630,842 |