Overview
What is Telacu Housing-El Monte Ii Inc?
Telacu Housing-El Monte II Inc. is a California-based nonprofit corporation, established in accordance with the state's not-for-profit statutes. Its primary purpose is to operate a 71-unit housing project named Telacu El Encanto located in El Monte, California. This project is designed to provide affordable housing for low-income elderly individuals. The corporation receives financial support in the form of Housing Assistance Payments from the U.S. Department of Housing and Urban Development, under Section 202 of the National Housing Act. Telacu Housing-El Monte II Inc. aims to contribute positively to the elderly community's housing needs in the area.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64%, Two-Star out of Four Star rating.
Telacu Housing-El Monte II Inc has received a Two-Star rating from Charity Navigator, indicating concerns regarding their accountability and financial practices. The overall score reflects weaknesses primarily in governance, as evidenced by the lack of independent board members and a small board size, which both scored poorly. However, the organization performed well in areas such as financial oversight and conflict of interest policies.
The charity's financial statements are audited, and they have a solid program expense ratio, showing that they allocate a significant portion of their resources to their programs. Additionally, they have effective policies for document retention and whistleblower protections. Despite these strengths, the absence of a publicly accessible tax form on their website and a concerning liabilities-to-assets ratio raises red flags about their financial transparency and stability.
Overall, while Telacu Housing-El Monte II Inc demonstrates a commitment to certain best practices in governance and finance, their low scores in board independence and transparency suggest areas that need improvement to strengthen their overall accountability and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Telacu Housing-El Monte Ii Inc legitimate?
Telacu Housing-El Monte Ii Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Telacu Housing-El Monte 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-El Monte Ii Inc?
Telacu Housing-El Monte II Inc. is a non-profit corporation established in accordance with California's not-for-profit statutes. Its primary purpose is to operate a 71-unit housing project named Telacu El Encanto, which is situated in El Monte, California. This project is dedicated to providing affordable housing for low-income elderly individuals. The corporation receives financial support in the form of 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 organization's mission is focused on providing a suitable living environment for elderly individuals who may have limited income.
Who is the CEO of Telacu Housing-El Monte Ii Inc?
Michael Lizarraga is the Principal Officer of Telacu Housing-El Monte Ii Inc.
What is the revenue of Telacu Housing-El Monte Ii Inc?
Telacu Housing-El Monte Ii Inc's revenue in 2022 was $627,823.
Who are the executives of Telacu Housing-El Monte 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-El Monte Ii Inc?
Telacu Housing-El Monte Ii Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Telacu Housing-El Monte Ii Inc
Telacu Housing-El Monte II Inc is a not-for-profit corporation established in accordance with California's not-for-profit statutes. Its primary purpose is to manage a housing project known as Telacu El Encanto, located in El Monte, California. This project is designed to provide affordable housing for low-income elderly individuals. Telacu Housing-El Monte II 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 mission is to provide a safe and supportive living environment for the elderly, helping them to maintain their independence and dignity. By offering housing assistance, Telacu Housing-El Monte II Inc plays a crucial role in ensuring that elderly individuals have access to affordable housing, a fundamental need for maintaining a decent quality of life. The corporation's work is particularly significant in addressing the housing needs of low-income elderly individuals, a population that often faces significant challenges in finding affordable and suitable housing options.
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Impact
July, 2024
Telacu Housing-El Monte II Inc's impact is significant in providing housing for low-income elderly persons in the city of El Monte, California. Through its operation of a 71-unit project known as Telacu El Encanto, the organization plays a crucial role in offering affordable housing options to a vulnerable demographic. Furthermore, by receiving housing assistance payments from the U.S. Department of Housing and Urban Development, Telacu Housing-El Monte II Inc ensures that these individuals have access to safe and secure housing in accordance with Section 202 of the National Housing Act.Overall, the organization's work directly contributes to improving the quality of life for elderly individuals in need of affordable housing support.
This information is meant to be a general summary of Telacu Housing-El Monte 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: $884
- Program Service Revenue: $247,880
- Gross Receipts: $627,823
Assets and Liabilities:
- Total Assets: $2,951,529
- Total Liabilities: $5,882,680
- Net Assets: -$2,931,151
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$247,880
Organization Details
Founding Year
1997
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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