Overview
What is Telacu Housing-Moreno Valley Inc?
Telacu Housing-Moreno Valley Inc is a nonprofit corporation established in compliance with California's not-for-profit laws. Its primary mission is to manage a 75-unit housing project named Telacu Villa, situated in Moreno Valley, California. This project is specifically designed to provide affordable living accommodations for low-income elderly individuals. Telacu Housing-Moreno Valley Inc receives financial assistance from the U.S. Department of Housing and Urban Development under Section 202 of the National Housing Act, enabling it to fulfill its crucial role in the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64%
Telacu Housing-Moreno Valley Inc has received a two-star rating from Charity Navigator, indicating some concerns regarding its accountability and financial practices. The organization scored 64% overall, which reflects a moderate level of transparency and governance. Notably, the lack of independent board members and a small board size contributed to the lower score, signaling potential weaknesses in oversight.
Despite the challenges in governance, Telacu Housing-Moreno Valley demonstrated strengths in several areas, such as maintaining a conflict of interest policy, a whistleblower policy, and a strong audit and oversight committee. Additionally, the organization exhibited responsible financial practices with a high program expense ratio, indicating that a significant portion of its funds is directed toward its mission-related activities.
However, the nonprofit faces limitations related to its online transparency, as it has not posted its tax form on its website, nor does it meet certain benchmarks for the liabilities to assets ratio. These factors highlight the need for improvement in its overall governance structure and public accountability, which could enhance trust among donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Telacu Housing-Moreno Valley Inc legitimate?
Telacu Housing-Moreno Valley Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Telacu Housing-Moreno Valley 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-Moreno Valley Inc?
Telacu Housing-Moreno Valley Inc is a not-for-profit corporation established in accordance with California's not-for-profit statutes. Its primary purpose is to manage a 75-unit housing project named Telacu Villa, which is situated in Moreno Valley, California. This project is designed to provide affordable housing for low-income elderly individuals. The corporation receives financial assistance from the U.S. Department of Housing and Urban Development, under Section 202 of the National Housing Act, to facilitate this mission. In essence, Telacu Housing-Moreno Valley Inc is dedicated to offering housing solutions for the elderly with limited income.
Who is the CEO of Telacu Housing-Moreno Valley Inc?
Michael Lizarraga is the Principal Officer of Telacu Housing-Moreno Valley Inc.
What is the revenue of Telacu Housing-Moreno Valley Inc?
Telacu Housing-Moreno Valley Inc's revenue in 2022 was $927,212.
Who are the executives of Telacu Housing-Moreno Valley 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-Moreno Valley Inc?
Telacu Housing-Moreno Valley Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Telacu Housing-Moreno Valley Inc
Telacu Housing-Moreno Valley Inc, a not-for-profit corporation, was established with the mission to provide housing for low-income elderly individuals. Formed in accordance with California's not-for-profit statutes, this organization operates a 75-unit project named Telacu Villa, situated in Moreno Valley, California. The corporation's mission is fulfilled through the receipt of housing assistance payments from the U.S. Department of Housing and Urban Development, under Section 202 of the National Housing Act, which is amended. By offering a secure living environment for the elderly with limited income, Telacu Housing-Moreno Valley Inc plays a significant role in ensuring the comfort and well-being of this vulnerable population.
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Impact
July, 2024
Telacu Housing-Moreno Valley Inc's impact lies in providing essential housing services to low-income elderly individuals in Moreno Valley, California. Through their operation of the Telacu Villa project, they offer a vital resource for this vulnerable population, ensuring they have a safe and affordable place to live. By receiving housing assistance payments from the U.S. Department of Housing and Urban Development, Telacu Housing-Moreno Valley Inc enables elderly individuals to maintain their independence and quality of life. Their work directly addresses the pressing need for affordable housing options among this demographic, making a tangible difference in the lives of those they serve.
This information is meant to be a general summary of Telacu Housing-Moreno Valley 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: $1,263
- Program Service Revenue: $275,243
- Gross Receipts: $927,212
Assets and Liabilities:
- Total Assets: $3,853,384
- Total Liabilities: $5,514,280
- Net Assets: -$1,660,896
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$275,243
Organization Details
Founding Year
1989
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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