Overview
What is Telacu Housing-San Bernardino Iii Inc?
Telacu Housing-San Bernardino III Inc is a California-based nonprofit organization, established in accordance with the state's not-for-profit statutes. Its primary mission is to manage a 75-unit community named Buenavista, situated in San Bernardino, California. This community serves as housing for elderly individuals with very low income. Telacu Housing-San Bernardino III Inc receives financial assistance from the U.S. Department of Housing and Urban Development, under Section 202 of the National Housing Act, to support this endeavor. The nonprofit's purpose is to provide a secure living environment for the elderly population, ensuring they can maintain a dignified and comfortable lifestyle.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Star rating, 64%
Telacu Housing-San Bernardino III Inc has received a two-star rating from Charity Navigator, indicating that the organization is in need of improvement. The overall score of 64% reflects strengths in accountability and finance, where it achieved a perfect score of 100%. This suggests that the organization adheres to sound financial practices and accountability measures.
However, several areas have been highlighted as weaknesses. The organization has scored poorly in board independence, with zero points out of eight for majority independent board members and a lack of larger independent board size, scoring zero out of seven. Additionally, while it has successfully established important policies such as conflict of interest and whistleblower protections, there is a lack of transparency as demonstrated by a score of zero for having its website listed on the tax form and not posting tax forms on the nonprofit's website.
Despite its commendable program expense ratio, which received a full score of 25 out of 25, the organization's liabilities to assets ratio is concerning, scoring zero out of 15. Overall, while Telacu Housing-San Bernardino III Inc demonstrates strong financial accountability, it faces significant challenges in governance and transparency that need to be addressed to improve its standing.
This AI summary has been generated from information found on Charity Navigator.
Is Telacu Housing-San Bernardino Iii Inc legitimate?
Telacu Housing-San Bernardino Iii Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Telacu Housing-San Bernardino Iii 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
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What is the mission statement of Telacu Housing-San Bernardino Iii Inc?
Telacu Housing-San Bernardino III Inc, a California-based not-for-profit corporation, was established with the primary objective of providing housing for elderly individuals with very low incomes. This is achieved through the operation of a 75-unit community named Buena Vista, situated in San Bernardino, California. The corporation receives financial assistance from the U.S. Department of Housing and Urban Development, granted under Section 202 of the National Housing Act, to support this mission. This not-for-profit organization's purpose is to contribute to the well-being of this specific demographic by offering them a safe and affordable living space.
Who is the CEO of Telacu Housing-San Bernardino Iii Inc?
Michael Lizarraga is the Principal Officer of Telacu Housing-San Bernardino Iii Inc.
What is the revenue of Telacu Housing-San Bernardino Iii Inc?
Telacu Housing-San Bernardino Iii Inc's revenue in 2022 was $667,872.
Who are the executives of Telacu Housing-San Bernardino Iii 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-San Bernardino Iii Inc?
Telacu Housing-San Bernardino Iii Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Telacu Housing-San Bernardino Iii Inc
Telacu Housing-San Bernardino III Inc is a not-for-profit corporation established in accordance with California's not-for-profit statutes. Its primary objective is to manage a 75-unit community, known as Buena Vista, which offers housing for elderly individuals with very low incomes. This organization 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 mission of Telacu Housing-San Bernardino III Inc is to provide a safe and affordable living environment for the elderly, ensuring they have access to essential amenities and support services. The corporation's mission aligns with the goal of promoting independent living and improving the overall quality of life for this vulnerable population.
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Impact
July, 2024
Telacu Housing-San Bernardino III Inc's impact lies in providing affordable housing for very low-income elderly individuals in San Bernardino, California. Through its operation of the Buena Vista community, this organization ensures that those in need have a safe and stable place to live. By receiving housing assistance payments from the U.S. Department of Housing and Urban Development, Telacu Housing-San Bernardino III Inc plays a crucial role in addressing the housing needs of vulnerable populations. Their mission of offering housing solutions to the elderly in need contributes significantly to the overall well-being and quality of life of the residents they serve.
This information is meant to be a general summary of Telacu Housing-San Bernardino Iii 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: $1,217
- Program Service Revenue: $254,345
- Gross Receipts: $667,872
Assets and Liabilities:
- Total Assets: $6,184,594
- Total Liabilities: $9,070,810
- Net Assets: -$2,886,216
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$254,345
Organization Details
Founding Year
2002
Phone
(323) 721-1655Principal Officer
Michael Lizarraga
Main Address
5400 E OLYMPIC BLVD 300, LOS ANGELES, CA, 90022
NTEE Category
Code: L22 - Housing
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