Overview
What is Telacu Housing-Pomona Inc?
Telacu Housing-Pomona Inc is a California-based nonprofit corporation, established in accordance with the state's not-for-profit statutes. The organization's primary purpose is to manage and operate an 80-unit housing project named Telacu Las Brisas, situated in Pomona, California. The project provides affordable housing for eligible elderly individuals with low income, in compliance with Section 202 of the National Housing Act. The U.S. Department of Housing and Urban Development provides housing assistance payments to Telacu Housing-Pomona Inc for this project. The organization plays a vital role in ensuring that elderly residents have a secure and suitable living environment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64%, earning a Two-Star out of Four Star rating. This rating indicates that Telacu Housing-Pomona Inc has significant room for improvement regarding its accountability and financial management. While the organization has scored well in certain areas, such as financial statements and program expense ratio, its overall performance in governance and transparency is lacking.
The organization has been noted for having no independent board members, which can raise concerns about accountability and objectivity in decision-making. Furthermore, the absence of essential transparency measures, such as posting tax forms on its website, may hinder public trust and confidence in the organization’s operations.
On a positive note, Telacu Housing-Pomona demonstrates a solid commitment to proper financial oversight, as evidenced by its perfect score in the audit and oversight committee section. Additionally, it has effective policies in place related to conflicts of interest and whistleblower protections. However, improving governance practices will be essential for enhancing its overall rating and public perception.
This AI summary has been generated from information found on Charity Navigator.
Is Telacu Housing-Pomona Inc legitimate?
Telacu Housing-Pomona Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Telacu Housing-Pomona 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-Pomona Inc?
Telacu Housing-Pomona Inc is a non-profit organization, established in accordance with California's not-for-profit statutes. Its primary purpose is to manage an 80-unit housing project, named Telacu Las Brisas, which is specifically designed for elderly individuals with very low incomes. The organization receives financial assistance from the U.S. Department of Housing and Urban Development under Section 202 of the National Housing Act, which is amended. The mission of Telacu Housing-Pomona Inc is to provide affordable housing solutions for the elderly, ensuring they have a safe and comfortable living environment.
Who is the CEO of Telacu Housing-Pomona Inc?
Michael Lizarraga is the Principal Officer of Telacu Housing-Pomona Inc.
What is the revenue of Telacu Housing-Pomona Inc?
Telacu Housing-Pomona Inc's revenue in 2022 was $678,710.
Who are the executives of Telacu Housing-Pomona 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-Pomona Inc?
Telacu Housing-Pomona Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Telacu Housing-Pomona Inc
Telacu Housing-Pomona Inc, a not-for-profit corporation established in accordance with California's not-for-profit statutes, was formed with the primary objective of operating an 80-unit housing project. This project, known as Telacu Las Brisas, is situated in Pomona, California. The corporation's mission is to provide housing for elderly individuals with very low incomes. Telacu Housing-Pomona Inc receives financial assistance to carry out this mission, in the form of Housing Assistance Payments, from the U.S. Department of Housing and Urban Development, in compliance with Section 202 of the National Housing Act, which has been amended. The corporation's commitment to this mission is instrumental in providing a secure living environment for this vulnerable population.
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Impact
July, 2024
Telacu Housing-Pomona Inc's impact can be seen in its provision of essential housing services to very low-income elderly persons in Pomona, California. By operating the Telacu Las Brisas project, this organization plays a crucial role in addressing the housing needs of a vulnerable population. Through receiving housing assistance payments from the U.S. Department of Housing and Urban Development, Telacu Housing-Pomona Inc facilitates affordable living arrangements for those who may otherwise struggle to find suitable housing options. The organization's efforts contribute to enhancing the quality of life for the elderly residents it serves, promoting stability, security, and dignity in their living situations.
This information is meant to be a general summary of Telacu Housing-Pomona 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: $273
- Program Service Revenue: $241,697
- Gross Receipts: $678,710
Assets and Liabilities:
- Total Assets: $6,377,977
- Total Liabilities: $9,452,791
- Net Assets: -$3,074,814
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$241,697
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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