Overview
What is Telacu Housing-Rialto Inc?
Telacu Housing-Rialto Inc is a California-based nonprofit corporation, established in accordance with the state's not-for-profit statutes. Its primary mission is to manage a 70-unit housing project named Telacu La Paz, situated in Rialto, California. This project is specifically designed to provide affordable housing for low-income elderly individuals. Telacu Housing-Rialto Inc receives financial assistance from the U.S. Department of Housing and Urban Development under Section 202 of the National Housing Act, which aids in providing necessary resources to support its mission. The organization's objective is to enhance the living conditions of its elderly residents, ensuring they maintain a comfortable and secure living environment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (64%, Two-Star out of Four Star rating)
Telacu Housing-Rialto Inc has received a Two-Star rating from Charity Navigator, indicating a need for improvement in certain operational areas. While the organization scored well on Accountability & Finance, achieving a perfect score in several categories such as Financial Statements and Conflict of Interest Policy, it has significant gaps in others. Notably, the organization failed to have a majority of independent board members and did not meet the requirements for listing its website on tax forms.
The organization excels in financial oversight with a strong Program Expense Ratio, reflecting that 100% of its funds are directed towards its programs. However, the lack of independent board members and the absence of a publicly listed website on tax forms raise concerns about governance and transparency. These issues are critical for potential donors who prioritize accountability in their philanthropic contributions.
Additionally, the organization has implemented policies such as Whistleblower and Document Retention Policies, which are positive indicators of its commitment to ethical practices. Nevertheless, the low scores in essential governance aspects highlight the need for Telacu Housing-Rialto Inc to bolster its board structure and improve transparency to enhance its overall effectiveness and donor confidence.
This AI summary has been generated from information found on Charity Navigator.
Is Telacu Housing-Rialto Inc legitimate?
Telacu Housing-Rialto Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Telacu Housing-Rialto 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 Inc?
Telacu Housing-Rialto Inc, as a not-for-profit corporation, was established to serve a specific purpose. Its primary objective is to manage and operate a 70-unit housing project, named Telacu La Paz, which is designed for low-income elderly individuals. This corporation receives financial assistance from the U.S. Department of Housing and Urban Development, in accordance with Section 202 of the National Housing Act, with the aim of providing affordable housing for this demographic. In essence, Telacu Housing-Rialto Inc is committed to enhancing the living conditions of elderly individuals with limited income, offering them a safe and suitable housing environment.
Who is the CEO of Telacu Housing-Rialto Inc?
Michael Lizarraga is the Principal Officer of Telacu Housing-Rialto Inc.
What is the revenue of Telacu Housing-Rialto Inc?
Telacu Housing-Rialto Inc's revenue in 2022 was $714,215.
Who are the executives of Telacu Housing-Rialto 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 Inc?
Telacu Housing-Rialto Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Telacu Housing-Rialto Inc
Telacu Housing-Rialto Inc, a not-for-profit corporation established under California's not-for-profit statutes, was formed with a specific mission. Its primary objective is to manage a 70-unit housing project named Telacu La Paz, located in Rialto, California. This project is dedicated to providing affordable housing for low-income elderly individuals. To support this mission, Telacu Housing-Rialto Inc 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 commitment to this mission is evident in its provision of safe and affordable living spaces for those who need it most, contributing to a more inclusive and equitable community.
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Impact
October, 2024
Telacu Housing-Rialto Inc significantly impacts the community by providing essential housing solutions for low-income elderly individuals in Rialto, California. Operating the Telacu La Paz project, this initiative offers 70 affordable living units, addressing a critical need for stable and supportive housing for older adults who may face financial challenges.
The organization collaborates with the U.S. Department of Housing and Urban Development to secure housing assistance payments, which not only ensures the long-term sustainability of the project but also enhances residents' quality of life. By focusing on this vulnerable population, Telacu Housing-Rialto Inc fosters a sense of community, promotes independence among seniors, and ultimately contributes to improved health and wellbeing for its residents. This initiative is vital in mitigating homelessness and housing insecurity among elderly individuals in the region.
This information is meant to be a general summary of Telacu Housing-Rialto 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: $530
- Program Service Revenue: $233,901
- Gross Receipts: $714,215
Assets and Liabilities:
- Total Assets: $6,842,430
- Total Liabilities: $9,877,780
- Net Assets: -$3,035,350
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$233,901
Organization Details
Founding Year
2004
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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