Skid Row Development Corp

Analysis

Skid Row Development Corp is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in January 1979, 47 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Skid Row Development Corp reported income of $784k and spending of $1.2m, spending 158% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.1m to $784k (-29%), an average of -8.3% a year. The sharpest change came in the year to June 2023, when income dropped by 36%. Over the whole period it spent 126% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Skid Row Development Corp sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 78th percentile within CA. Charities of a similar size with the same main cause include Odenton Senior Housing Inc ($784k), Halls Ferry Manor Inc ($784k) and Telacu Housing-Pacoima Inc ($783k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 24% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $76k (6.1% of expenses). Other salaries and wages came to $528k. At year end it held assets of $266k against liabilities of $2.5m, net assets of -$2.2m. It reported 29 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.