Skid Row Development Corporation

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Phone

2136237130

Tax Period

2022-07-01 to 2023-06-30

Skid Row Development Corporation is a small nonprofit in the Housing & Shelter sector that reported $784K in total revenue in fiscal year 2022. Revenue fell 36% from the prior year — a significant decline worth monitoring. Expenses of $1.2M exceeded revenue, resulting in a 58% operating deficit.

Mission

THE PRINCIPAL PURPOSE OF THE SKID ROW DEVELOPMENT CORPORATION IS TO INCREASE ECONOMIC DEVELOPMENT OPPORTUNITIES AND SOCIAL SERVICES TO THE COMMUNITY DIRECTLY EAST OF DOWNTOWN LOS ANGELES, COMMONLLY KNOWN AS "SKID ROW". THIS PURPOSE SHALL BE SERVED BY PROVIDING HOUSING AND ECONOMIC DEVELOPMENT SERVICES.

Program Service Accomplishments

Program 1

Expenses: $916,007 Revenue: $521,805

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. Amenities include semi-furnished rooms which consist of a bed, a refrigerator, and a closet. Bathrooms and showers are located in the rooms and several are located at each floor to accomodate tenants on their floors. Also, there is a laundry facility and a community kitchen both located on the first floor.Marion Hotel is a 44-unit 3-story structure with single-room occupancy. Amenities include semi-furnished rooms which consist of a bed, a refrigerator, and a sink. Bathrooms and showers are not located in the room and several are located at each floor to accomodate tenants on their floors. Also, there is a laundry facility and a community kitchen both located on the first floor.

Program 2

Expenses: $125,672 Revenue: $133,555

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. THE ORGANIZATION OPERATES AN OUTPATIENT SUBSTANCE ABUSE AND MENTAL HEALTH SERIVCES PROGRAM FOR HOMELESS INDIVIDUALS. THE PROGRAM OPERATES FIVE DAYS A WEEK AT NO COST TO THE HOMELESS INDIVIDUALS. THE ORGANIZATION ALSO PROVIDES EMERGENCY FOOD AND SHELTER FOR TEH LOS ANGELES SKID ROW COMMUNITY.

Program 3

Expenses: $123,002 Revenue: $121,704

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. FOR SOCIAL SERVICES AVAILABLE UPON REQUEST, AND ON-SITE ALCOHOL & DRUG COUNSELING SERVICES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $186,314

Program Service Revenue $596,250

Investment Income $0

Other Revenue $1,403

TOTAL REVENUE $783,967

Expense Breakdown

Grants Paid $0

Salaries & Benefits $745,283

Fundraising Expenses $0

Program Expenses $1,164,681

Other Expenses $494,704

TOTAL EXPENSES $1,239,987

Year-over-Year Comparison

	2022	2021	Change
Revenue	$783,967	$1,222,652	-0.4%
Expenses	$1,239,987	$1,397,775	-0.1%
Net Income	$-456,020	$-175,123	+1.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$76,156

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Marcia Reddy	CEO	40.00	Officer	$76,156	$0	$76,156
Robert Pratt	Chairman	0.00	Officer Director	$0	$0	$0
Anita Nelson	Treasurer	0.00	Officer Director	$0	$0	$0
Marcus Butler	Board Member	0.00	Director	$0	$0	$0
Roy Gardener	Board Member	0.00	Director	$0	$0	$0
Nancy Huntington	Secretary	0.00	Officer Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$783,967	$1,239,987	$266,051	$-456,020
2022	$1,222,652	$1,397,775	$316,368	$-175,123
2021	$1,084,551	$1,393,636	$391,374	$-309,085
2020	$1,210,796	$1,422,334	$431,343	$-211,538
2019	$1,109,708	$1,345,730	$144,196	$-236,022
2018	$884,328	$1,050,089	$108,292	$-165,761