Overview
What is Telacu Manor Inc?
Telacu Manor Inc is a California-based nonprofit organization, established in accordance with the state's not-for-profit statutes. Its primary purpose is to operate a 75-unit community named Telacu Manor located in Commerce, California. This community serves as affordable housing for low-income elderly individuals. The organization receives financial assistance from the U.S. Department of Housing and Urban Development under Section 202 of the National Housing Act, which is aimed at providing housing solutions for such populations. Telacu Manor Inc is committed to offering a supportive living environment for its residents, contributing to the well-being of elderly individuals in the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement, Two-Star out of Four Stars (Overall Score: 64%)
Telacu Manor Inc has received a two-star rating from Charity Navigator, reflecting a need for improvement in certain areas of accountability and financial management. The organization scored 64% overall, with particular strengths noted in its financial statements and adherence to policies such as conflict of interest and whistleblower protocols. However, a significant concern is the lack of independent board members, scoring zero in that category, which may impact governance and oversight.
The nonprofit did perform well in specific financial metrics, including a solid program expense ratio and no material diversion of assets, indicating proper use of funds. Nevertheless, the organization's low scores in board independence and transparency—evidenced by not posting tax forms and having no independent board members—highlight areas that require attention. This lack of transparency could affect public trust and donor confidence.
Overall, while Telacu Manor Inc demonstrates competent financial management in some areas, it faces critical challenges regarding board governance and transparency that need to be addressed to enhance its operational effectiveness and credibility in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Telacu Manor Inc legitimate?
Telacu Manor Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Telacu Manor 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 Manor Inc?
Telacu Manor Inc., established in accordance with California's not-for-profit statutes, has been formed with the primary objective of managing a 75-unit housing community. This community, named Telacu Manor, is located in Commerce, California, and is specifically designed to cater to the needs of low-income elderly individuals. The corporation receives financial assistance for this endeavor from the U.S. Department of Housing and Urban Development, under Section 202 of the National Housing Act. While the provided information does not detail an explicit mission statement, it can be inferred that Telacu Manor Inc.'s mission is centered around providing affordable housing for the elderly, in line with the guidelines and funding provided by the U.S. Department of Housing and Urban Development.
Who is the CEO of Telacu Manor Inc?
Michael Lizarraga is the Principal Officer of Telacu Manor Inc.
What is the revenue of Telacu Manor Inc?
Telacu Manor Inc's revenue in 2022 was $994,160.
Who are the executives of Telacu Manor 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 Manor Inc?
Telacu Manor Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Telacu Manor Inc
Telacu Manor Inc, a California-based not-for-profit corporation, was established with a mission to serve the needs of low-income elderly individuals. This organization is dedicated to operating a 75-unit community known as Telacu Manor, located in Commerce, California. The core purpose of Telacu Manor Inc is to provide safe and affordable housing for this specific demographic. The corporation receives financial assistance from the U.S. Department of Housing and Urban Development, under Section 202 of the National Housing Act, which is amended to support such initiatives. By doing so, Telacu Manor Inc contributes to the well-being of its elderly residents, offering them a secure and comfortable living environment.
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Impact
July, 2024
Telacu Manor Inc's impact is significant in providing housing for low-income elderly persons. Operating a 75-unit community in Commerce, California, this organization offers a crucial service by ensuring that vulnerable individuals have a safe and affordable place to live. By receiving housing assistance payments from the U.S. Department of Housing and Urban Development, Telacu Manor Inc plays a vital role in supporting the well-being and stability of the elderly population in need.
This information is meant to be a general summary of Telacu Manor 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: $1,046
- Program Service Revenue: $305,967
- Gross Receipts: $994,160
Assets and Liabilities:
- Total Assets: $3,715,446
- Total Liabilities: $5,229,001
- Net Assets: -$1,513,555
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$305,967
Organization Details
Founding Year
1986
Phone
(323) 721-1655Principal Officer
Michael Lizarraga
Main Address
5400 E OLYMPIC BLVD 300, LOS ANGELES, CA, 90022
NTEE Category
Code: L21Z - Housing
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