Decro Corporation

Nonprofit profile at a glance

EIN
330362163
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Culver City, CA, USA
Phone
4244034586
Rating
83
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$15,231,464
Expenses
$20,416,139
Assets
$276,505,417
Liabilities
$271,278,715

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

11 people listed

Executive titles in this filing

  • TED HANDEL (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • TED HANDEL (CHIEF EXECUTIVE OFFICER): $294,268 total reported compensation
  • ERIN FOREMAN (SENIOR PROJECT MANAGER): $175,251 total reported compensation
  • TERRI O'HARA (CONTROLLER): $170,342 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

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

What it reported doing in 2024

As of december 31, 2024, 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.

Operating model

Revenue model
Earned-program. 72% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 70
  • Accountability: 100
  • Sustainability: 36
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96.2%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -34%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 13.54; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.98; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 4.5%; rating input score 55; 55th percentile among comparable filings

Growth

  • Program expense growth: 36.1% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 32.9% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 36% per year; rating input score 100; 97th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 96.2% of spending went to programs
  • Governance: 6 of 6 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $19.6M in reported program spending
  • Leadership: top reported pay $294K · 11 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 36 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 2/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.
  • Review — Sustainability: Officer compensation ratio scored 55/100.