Overview
What is Telacu Housing-Riverside Inc?
Telacu Housing-Riverside Inc is a California-based nonprofit corporation, established to provide housing facilities for low-income elderly individuals. Situated in Riverside, California, the organization operates Telacu Las Fuentes, a 75-unit project dedicated to this purpose. The U.S. Department of Housing and Urban Development provides housing assistance to Telacu Housing-Riverside Inc through Section 202 of the National Housing Act, ensuring that the needs of its elderly residents are met effectively.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (64%)
Telacu Housing-Riverside Inc receives a two-star rating from Charity Navigator, indicating a need for improvement in certain areas of its operations. The overall score of 64% highlights some strengths, particularly in financial oversight, as evidenced by a perfect score in audit and oversight committee practices. However, the organization struggles with board independence and transparency, as reflected by its lack of independent board members and failure to provide financial statements on its website.
The organization has demonstrated effective management of program expenses, achieving a high program expense ratio. Additionally, it has robust policies in place regarding conflict of interest and whistleblower protections, indicating a commitment to ethical governance. Nonetheless, the significant issues with board independence and the failure to meet transparency standards suggest that improvements are necessary to bolster stakeholder trust and accountability.
Overall, while Telacu Housing-Riverside Inc showcases positive attributes in certain operational aspects, the need for enhanced independent governance and transparency practices remains a critical area for development. Addressing these limitations could help elevate the organization's rating and efficacy in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Telacu Housing-Riverside Inc legitimate?
Telacu Housing-Riverside Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Telacu Housing-Riverside 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 Inc?
Telacu Housing-Riverside Inc is a not-for-profit corporation established under the laws of California. Its primary objective is to manage a housing project, known as Telacu Las Fuentes, which offers affordable living accommodations for low-income elderly individuals. The corporation receives financial assistance from the U.S. Department of Housing and Urban Development, under Section 202 of the National Housing Act, to support its operations. The mission of Telacu Housing-Riverside Inc is to provide a secure living environment for elderly individuals who may otherwise struggle with housing costs, thereby promoting their well-being and independence. The corporation's operations are centered around supporting the needs of this specific demographic, offering them a safe and affordable place to reside.
Who is the CEO of Telacu Housing-Riverside Inc?
Michael Lizarraga is the Principal Officer of Telacu Housing-Riverside Inc.
What is the revenue of Telacu Housing-Riverside Inc?
Telacu Housing-Riverside Inc's revenue in 2022 was $712,511.
Who are the executives of Telacu Housing-Riverside 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 Inc?
Telacu Housing-Riverside Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Telacu Housing-Riverside Inc
Telacu Housing-Riverside Inc, a California-based not-for-profit corporation, was established with a specific mission. This organization was formed to manage a 75-unit housing project named Telacu Las Fuentes, situated in Riverside, California. The primary objective of this project is to provide affordable housing for low-income elderly individuals. Telacu Housing-Riverside Inc receives financial assistance from the U.S. Department of Housing and Urban Development under Section 202 of the National Housing Act, which is amended. This support enables the corporation to maintain and manage the housing project, ensuring that low-income elderly persons have a safe and secure living environment.
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Impact
October, 2024
Telacu Housing-Riverside Inc significantly impacts the community by providing affordable housing for low-income elderly individuals in Riverside, California. Operating the 75-unit project known as Telacu Las Fuentes, the organization plays a crucial role in addressing the housing needs of vulnerable seniors who might otherwise struggle to find safe and stable living conditions.
By collaborating with the U.S. Department of Housing and Urban Development, Telacu Housing ensures that residents receive necessary housing assistance, enhancing their quality of life and promoting dignity in their later years. This initiative not only alleviates housing insecurity for many families but also fosters a sense of community among the residents, who benefit from social interactions and support networks. The establishment contributes to the overall well-being of the elderly population, allowing them to maintain independence while accessing essential services and resources tailored to their needs.
This information is meant to be a general summary of Telacu Housing-Riverside 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: $559
- Program Service Revenue: $226,152
- Gross Receipts: $712,511
Assets and Liabilities:
- Total Assets: $6,870,392
- Total Liabilities: $9,696,857
- Net Assets: -$2,826,465
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$226,152
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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