Overview
What is Telacu Housing-Baldwin Park Inc?
Telacu Housing-Baldwin Park Inc is a California-based nonprofit corporation, established with the intention of providing housing for low-income elderly individuals. The organization operates Telacu Las Palomas, a 75-unit community situated in Baldwin Park, California. This housing community receives financial support through Project Rental Assistance Payments from the U.S. Department of Housing and Urban Development, as per Section 202 of the National Housing Act. Telacu Housing-Baldwin Park Inc's primary objective is to cater to the housing needs of this specific demographic, thereby contributing to the overall well-being of the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 64%)
Telacu Housing-Baldwin Park Inc has received a Two-Star rating from Charity Navigator, indicating that the organization has room for improvement in its accountability and financial practices. The overall score of 64% reflects concerns regarding the structure of its board, as it lacks independent members, which may affect governance and oversight. However, the organization demonstrates strong practices in areas such as financial statements, material diversion of assets, and policies on conflict of interest and whistleblowing.
While Telacu Housing-Baldwin Park Inc excels in certain financial oversight areas, it has significant weaknesses related to board independence and transparency. The absence of independent board members and the failure to provide certain financial documents on its website, such as the tax form, raise questions about its commitment to transparency. Furthermore, the liabilities to assets ratio indicates potential financial stability issues that warrant attention.
Overall, while Telacu Housing-Baldwin Park Inc shows promise in its program expense ratio and has established essential policies, its governance structure and transparency practices need improvement to enhance accountability and public trust. Addressing these limitations could help the organization strengthen its impact in the community it serves.
This AI summary has been generated from information found on Charity Navigator.
Is Telacu Housing-Baldwin Park Inc legitimate?
Telacu Housing-Baldwin Park Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Telacu Housing-Baldwin Park 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-Baldwin Park Inc?
Telacu Housing-Baldwin Park Inc, a California-based not-for-profit corporation, was established with the objective of providing housing for low-income elderly individuals. The organization operates a 75-unit community named Telacu Las Palomas, situated in Baldwin Park, California. They receive financial assistance through Project Rental Assistance Payments from the U.S. Department of Housing and Urban Development, in accordance with Section 202 of the National Housing Act. The primary mission of Telacu Housing-Baldwin Park Inc is to ensure that elderly individuals with limited income have access to safe and affordable housing.
Who is the CEO of Telacu Housing-Baldwin Park Inc?
Michael Lizarraga is the Principal Officer of Telacu Housing-Baldwin Park Inc.
What is the revenue of Telacu Housing-Baldwin Park Inc?
Telacu Housing-Baldwin Park Inc's revenue in 2022 was $604,946.
Who are the executives of Telacu Housing-Baldwin Park 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-Baldwin Park Inc?
Telacu Housing-Baldwin Park Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Telacu Housing-Baldwin Park Inc
Telacu Housing-Baldwin Park Inc is a not-for-profit corporation established in compliance with California's not-for-profit statutes. Its primary purpose is to manage a 75-unit community known as Telacu Las Palomas, located in Baldwin Park, California. This community serves as a sanctuary for elderly individuals with very low incomes, offering them a place to call home. Telacu Housing-Baldwin Park Inc receives financial assistance in the form of Project Rental Assistance Payments from the U.S. Department of Housing and Urban Development, under Section 202 of the National Housing Act, which has been amended. This support enables the organization to provide affordable housing for its elderly residents. The corporation's mission is to ensure that these elderly individuals have access to safe and secure housing, thereby enhancing their quality of life.
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Impact
July, 2024
Telacu Housing-Baldwin Park Inc's impact lies in providing essential housing for very low-income elderly persons in the city of Baldwin Park, California. Through their operation of a 75-unit community known as Telacu Las Palomas, this organization ensures that vulnerable elderly individuals have a safe and affordable place to call home. By receiving project rental assistance payments from the U.S. Department of Housing and Urban Development, Telacu Housing-Baldwin Park Inc plays a crucial role in addressing the housing needs of this underserved population, promoting stability and well-being among the elderly in their community.
This information is meant to be a general summary of Telacu Housing-Baldwin Park 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: $309
- Program Service Revenue: $270,407
- Gross Receipts: $604,946
Assets and Liabilities:
- Total Assets: $2,942,677
- Total Liabilities: $6,343,177
- Net Assets: -$3,400,500
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$270,407
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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