Overview
What is Telacu Housing-Rialto Ii Inc?
Telacu Housing-Rialto II Inc. is a California-based nonprofit corporation, established to construct, own, and manage a 75-unit community named Telacu Tierra Serrano in Rialto, California. This community is specifically designed to provide affordable housing for low-income elderly individuals, in accordance with Section 202 of the National Housing Act. The organization's mission is centered around offering a comfortable living space for this demographic, aiming to enhance their quality of life.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64% (Two-Star out of Four Stars)
Telacu Housing-Rialto II Inc holds a Two-Star rating from Charity Navigator, indicating concerns in areas of accountability and finance. With a score of 64%, the organization primarily derives its overall rating from its accountability and finance metrics, highlighting the need for improvements in governance and transparency.
The charity has been noted for its strong performance in specific areas, such as having a conflict of interest policy, a whistleblower policy, and a committee overseeing audit and financial statements. However, significant limitations were identified, including a lack of independent board members, which raises questions about governance practices. Additionally, the organization did not score well in areas such as the transparency of financial statements on its website.
While Telacu Housing-Rialto II Inc shows strengths in program expense ratios and financial oversight, it will need to address its governance structure and improve its transparency to enhance its rating and effectiveness as a nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Telacu Housing-Rialto Ii Inc legitimate?
Telacu Housing-Rialto Ii Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Telacu Housing-Rialto 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-Rialto Ii Inc?
Telacu Housing-Rialto II Inc is a not-for-profit organization established under California's not-for-profit statutes. Its primary purpose is to construct, own, and manage a 75-unit community known as Telacu Tierra Serrano, located in Rialto, California. This community provides housing for low-income elderly individuals, in compliance with Section 202 of the National Housing Act, which has been amended. The organization's mission is centered around providing housing solutions for this specific demographic.
Who is the CEO of Telacu Housing-Rialto Ii Inc?
Michael Lizarraga is the Principal Officer of Telacu Housing-Rialto Ii Inc.
What is the revenue of Telacu Housing-Rialto Ii Inc?
Telacu Housing-Rialto Ii Inc's revenue in 2022 was $770,523.
Who are the executives of Telacu Housing-Rialto 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-Rialto Ii Inc?
Telacu Housing-Rialto Ii Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Telacu Housing-Rialto Ii Inc
Telacu Housing-Rialto II Inc, a California-based not-for-profit corporation, was established with a specific mission in mind. This mission involves constructing, owning, and operating a 75-unit housing community, known as Telacu Tierra Serrano, for low-income elderly individuals. This community is developed in accordance with Section 202 of the National Housing Act, as amended. The organization's purpose is to provide a safe and affordable living space for this particular demographic, ensuring they can live with dignity and independence. By constructing and managing this community, Telacu Housing-Rialto II Inc contributes to the well-being of the elderly population, offering them a home where they can age gracefully.
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Impact
October, 2024
Telacu Housing-Rialto II Inc. plays a significant role in addressing the housing needs of low-income elderly individuals in Rialto, California. By constructing and operating the Telacu Tierra Serrano community, the organization provides 75 affordable housing units specifically designed for elderly residents. This initiative contributes to improving the quality of life for seniors who may otherwise struggle to find safe and affordable living arrangements.
The impact extends beyond mere housing; it fosters a sense of community and security among residents. Elderly individuals living in this environment benefit from tailored amenities and services that cater to their unique needs, promoting both social interaction and independence. Moreover, by focusing on affordable housing solutions, Telacu Housing-Rialto II Inc. alleviates some of the socioeconomic challenges faced by low-income seniors, ensuring they have access to stable housing and, consequently, a better standard of living. Overall, the organization makes a vital contribution to enhancing the well-being of some of the most vulnerable members of society.
This information is meant to be a general summary of Telacu Housing-Rialto 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: $1,234
- Program Service Revenue: $271,970
- Gross Receipts: $770,523
Assets and Liabilities:
- Total Assets: $11,642,534
- Total Liabilities: $15,688,865
- Net Assets: -$4,046,331
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$271,970
Organization Details
Founding Year
2009
Phone
(323) 721-1655Principal Officer
Michael Lizarraga
Main Address
5400 E OLYMPIC BLVD 300, LOS ANGELES, CA, 900225187
NTEE Category
Code: L21 - Housing
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