Overview
What is Telacu Housing-Pomona Ii Inc?
Telacu Housing-Pomona II Inc is a California-based nonprofit corporation, dedicated to providing housing solutions for elderly individuals with low incomes. Located at 5400 E Olympic Blvd in Los Angeles, the organization operates the Telacu Las Esperanza project, a 70-unit complex in Pomona, California. This project serves as a home for the elderly, receiving financial assistance from the U.S. Department of Housing and Urban Development under Section 202 of the National Housing Act. The nonprofit's mission is to provide a supportive living environment, promoting the well-being of its residents and contributing positively to the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64%, Two-Star out of Four Star rating.
Telacu Housing-Pomona Ii Inc has received a 64% rating from Charity Navigator, which indicates a moderate level of accountability and transparency. The organization has strengths in certain areas such as having a solid program expense ratio and a strong audit and oversight committee, reflecting good financial management practices.
However, there are notable weaknesses, particularly in governance, as the organization has not met expectations for independent board membership or board size. Additionally, the charity's website lacks key financial documents and does not adequately showcase its commitment to transparency, which raises concerns about the accessibility of information for potential donors.
Overall, while Telacu Housing-Pomona Ii Inc demonstrates strong financial oversight, improvements in governance and transparency are necessary to enhance its rating and build greater trust with supporters and the community.
This AI summary has been generated from information found on Charity Navigator.
Is Telacu Housing-Pomona Ii Inc legitimate?
Telacu Housing-Pomona Ii Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Telacu Housing-Pomona 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-Pomona Ii Inc?
Telacu Housing-Pomona II Inc, a California-based not-for-profit organization, was established with the primary goal of providing housing for elderly individuals with low income. They operate a 70-unit project named Telacu Las Esperanza, situated in Pomona, California. 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, aiming to assist vulnerable elderly populations. In essence, Telacu Housing-Pomona II Inc is dedicated to enhancing the living conditions of low-income elderly individuals by offering them suitable housing solutions.
Who is the CEO of Telacu Housing-Pomona Ii Inc?
Michael Lizarraga is the Principal Officer of Telacu Housing-Pomona Ii Inc.
What is the revenue of Telacu Housing-Pomona Ii Inc?
Telacu Housing-Pomona Ii Inc's revenue in 2022 was $617,244.
Who are the executives of Telacu Housing-Pomona 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-Pomona Ii Inc?
Telacu Housing-Pomona Ii Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Telacu Housing-Pomona Ii Inc
Telacu Housing-Pomona II Inc, a not-for-profit corporation, was established with the mission of providing housing for elderly individuals with very low income. Situated in California, this organization operates a 70-unit project named Telacu Las Esperanza. The corporation receives financial assistance from the U.S. Department of Housing and Urban Development under Section 202 of the National Housing Act, which aids in its mission of providing affordable housing solutions for this specific demographic. Telacu Housing-Pomona II Inc is committed to making a positive impact on the lives of the elderly, ensuring they have a safe and comfortable living environment.
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Impact
July, 2024
Telacu Housing-Pomona II Inc's impact is significant as it provides housing for very low-income elderly persons in Pomona, California through its 70-unit housing project known as Telacu Las Esperanza. By receiving housing assistance payments from the U.S. Department of Housing and Urban Development, the organization plays a crucial role in addressing the housing needs of a vulnerable population. Their work contributes to improving the quality of life and well-being of elderly individuals who might otherwise struggle to find affordable and safe housing options.
This information is meant to be a general summary of Telacu Housing-Pomona 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: $505
- Program Service Revenue: $276,242
- Gross Receipts: $617,244
Assets and Liabilities:
- Total Assets: $7,092,481
- Total Liabilities: $12,348,537
- Net Assets: -$5,256,056
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$276,242
Organization Details
Founding Year
2006
Phone
(323) 721-1655Principal Officer
Michael Lizarraga
Main Address
5400 E OLYMPIC BLVD 300, LOS ANGELES, CA, 90022
NTEE Category
Code: L21 - Housing
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