Overview
What is Telacu Housing - Riverside Ii Inc?
Telacu Housing - Riverside II Inc. is a California-based nonprofit corporation, established in accordance with the state's not-for-profit statutes. Its primary mission is to construct, own, and operate the Telacu El Paseo, a 75-unit housing project in Riverside, California. This project is specifically designed to provide affordable housing for low-income elderly individuals, in line with Section 202 of the National Housing Act. The corporation receives financial assistance from the U.S. Department of Housing and Urban Development to carry out its mission. Telacu Housing - Riverside II Inc. aims to promote a living environment that supports the well-being of its elderly residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64% (Two-Star out of Four Star rating)
Telacu Housing - Riverside II Inc has received a Two-Star rating from Charity Navigator, reflecting an overall score of 64%. This rating indicates areas of concern, particularly with governance and accountability, as the organization has not demonstrated a majority of independent board members and has a low score in independent board size. However, it maintains strong financial oversight practices, evidenced by a perfect score in financial statements and audit committees.
The organization has strengths in its program expense ratio, indicating effective allocation of funds towards its mission. Furthermore, it has implemented crucial policies such as conflict of interest and whistleblower policies, which contribute to a framework of accountability. Despite these positives, the lack of transparency in posting financial documents on its website has been highlighted as a significant limitation that may affect stakeholder trust.
In summary, while Telacu Housing - Riverside II Inc showcases effective financial management and strong policies, the absence of independent governance and transparency in sharing financial information are critical areas that the organization needs to address to improve its standing and foster greater public confidence.
This AI summary has been generated from information found on Charity Navigator.
Is Telacu Housing - Riverside Ii Inc legitimate?
Telacu Housing - Riverside Ii Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Telacu Housing - Riverside Ii Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Telacu Housing - Riverside Ii Inc?
Telacu Housing - Riverside II Inc. is a non-profit corporation established under California's not-for-profit laws. Its primary objective is to construct, own, and operate a 75-unit housing project named Telacu El Paseo, located in Riverside, California. This project provides affordable housing for low-income elderly individuals. The corporation receives housing assistance payments from the U.S. Department of Housing and Urban Development, under Section 202 of the National Housing Act, which has been amended. The corporation's mission is centered around providing housing solutions for the elderly with limited income. It does not specify any particular advocacy or support beyond the construction and operation of the housing project.
Who is the CEO of Telacu Housing - Riverside Ii Inc?
Michael Lizarraga is the Principal Officer of Telacu Housing - Riverside Ii Inc.
What is the revenue of Telacu Housing - Riverside Ii Inc?
Telacu Housing - Riverside Ii Inc's revenue in 2022 was $691,203.
Who are the executives of Telacu Housing - Riverside Ii Inc and what are their salaries?
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $1,889,036
- Other: $34,761
- Compensation: $0
- Related: $249,667
- Other: $15,864
- Compensation: $0
- Related: $955,911
- Other: $32,937
- Compensation: $0
- Related: $25,640
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $36,000
- Other: $0
Where can I find the form 990 for Telacu Housing - Riverside Ii Inc?
Telacu Housing - Riverside Ii Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Telacu Housing - Riverside Ii Inc
Telacu Housing - Riverside II Inc, a not-for-profit corporation, was established in accordance with California's not-for-profit statutes. Its primary purpose is to construct, own, and operate a 75-unit housing project known as Telacu El Paseo, located in Riverside, California. This project is designed to provide affordable housing for low-income elderly individuals. The corporation receives housing assistance payments from the U.S. Department of Housing and Urban Development under Section 202 of the National Housing Act, as amended. In essence, Telacu Housing - Riverside II Inc is committed to alleviating housing challenges for the elderly population by providing a suitable living environment with necessary support.
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Impact
July, 2024
Telacu Housing - Riverside II Inc's impact is significant in providing affordable housing for low-income elderly persons in Riverside, California. The organization owns and operates a 75-unit project called Telacu El Paseo, which receives housing assistance payments from the U.S. Department of Housing and Urban Development. By offering housing options for this vulnerable population, Telacu Housing - Riverside II Inc plays a crucial role in addressing the housing needs of elderly individuals with limited financial resources.
This information is meant to be a general summary of Telacu Housing - Riverside Ii Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,799
- Program Service Revenue: $239,376
- Gross Receipts: $691,203
Assets and Liabilities:
- Total Assets: $10,357,219
- Total Liabilities: $13,446,263
- Net Assets: -$3,089,044
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$239,376
Organization Details
Founding Year
2008
Phone
(323) 721-1655Principal Officer
Michael Lizarraga
Main Address
5400 E OLYMPIC BLVD 300, LOS ANGELES, CA, 90022
NTEE Category
Code: L21 - Housing
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