Overview
What is Telacu Homes Inc?
Telacu Homes Inc, located in Los Angeles, California, is a dedicated nonprofit organization that specializes as a general partner in Low Income Housing Tax Credit partnerships. Their mission is to provide affordable housing opportunities for the disabled and elderly, contributing significantly to this cause through their partnerships. By being involved in these partnerships, Telacu Homes Inc plays a crucial role in ensuring that low-income individuals in need have access to suitable living spaces.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 74% (Two-Star out of Four Star rating)
Telacu Homes Inc has received a 74% rating from Charity Navigator, indicating a moderate level of accountability and finance management. This rating reflects the organization’s strong commitment to program expenses, with a 100% program expense ratio, meaning all expenses are directed towards its mission. However, the organization does not have independent board members, which raises concerns about governance and oversight.
The organization has demonstrated good practices in several areas, such as having a conflict of interest policy, a whistleblower policy, and a document retention policy. Additionally, it maintains proper records of board meeting minutes. However, the lack of a website listed on its tax form and the absence of independent board members are significant weaknesses noted in the evaluation.
Overall, while Telacu Homes Inc shows commendable financial practices, the absence of independent governance could hinder its transparency and accountability in the long term. This highlights the importance of independent oversight for nonprofits to maintain trust and integrity in their operations.
This AI summary has been generated from information found on Charity Navigator.
Is Telacu Homes Inc legitimate?
Telacu Homes Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Telacu Homes 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 Homes Inc?
Telacu Homes Inc serves as the general partner in certain Low Income Housing Tax Credit partnerships, with a mission to provide affordable housing for the disabled and elderly. This organization plays a crucial role in facilitating these partnerships, aiming to contribute to the housing needs of those in need. By doing so, Telacu Homes Inc helps ensure that individuals in these vulnerable groups have access to suitable living arrangements.
Who is the CEO of Telacu Homes Inc?
Michael Lizarraga is the Coo/Sec/Dir of Telacu Homes Inc.
What is the revenue of Telacu Homes Inc?
Telacu Homes Inc's revenue in 2022 was $21,601.
Who are the executives of Telacu Homes Inc and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $753,853
- Other: $24,200
- Compensation: $0
- Related: $1,889,036
- Other: $34,761
- Compensation: $0
- Related: $955,911
- Other: $32,938
- Compensation: $0
- Related: $267,018
- Other: $6,252
- Compensation: $0
- Related: $249,667
- Other: $15,864
Where can I find the form 990 for Telacu Homes Inc?
Telacu Homes Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Telacu Homes Inc
Telacu Homes Inc, as a general partner, plays a significant role in certain Low Income Housing Tax Credit Partnerships. Their mission is centered around providing affordable housing solutions. Specifically, they focus on accommodating disabled and elderly individuals, ensuring that these vulnerable groups have access to suitable living spaces. By serving as a general partner in these partnerships, Telacu Homes Inc contributes to the creation and maintenance of low-income housing units, thereby addressing the housing needs of these groups.
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Impact
August, 2024
Telacu Homes Inc plays a significant role in providing low-income housing to disabled and elderly individuals in Los Angeles, California. Through their activities as a general partner in certain low-income housing tax credit partnerships, Telacu Homes Inc helps to create affordable housing options for those in need. By focusing on serving disadvantaged populations, the organization contributes to addressing housing insecurity and improving the quality of life for vulnerable community members. Their impact is evident in the increased access to safe and stable housing for individuals who may otherwise struggle to afford suitable accommodations.
This information is meant to be a general summary of Telacu Homes 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.
- Program Service Revenue: $21,601
- Gross Receipts: $21,601
Assets and Liabilities:
- Total Assets: $786,092
- Total Liabilities: $0
- Net Assets: $786,092
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FEES & OTHER SERV CHAR
Revenue
$21,601
Organization Details
Founding Year
1998
Phone
(323) 721-1655Principal Officer
Michael Lizarraga
Main Address
5400 EAST OLYMPIC BOULEVARD 300, LOS ANGELES, CA, 90022
NTEE Category
Code: L20 - Housing
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