Overview
What is Telacu Housing-Hawthorne Inc?
Telacu Housing-Hawthorne Inc is a California-based nonprofit corporation established with the intent to provide housing for low-income elderly individuals. Located in Hawthorne, California, the organization operates Telacu Terrace, a 75-unit community that serves as a home for this specific demographic. Funding for this initiative comes from the U.S. Department of Housing and Urban Development, granted under Section 202 of the National Housing Act. The nonprofit's purpose is to facilitate a secure living environment for this community, aiming to improve their quality of life.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64% (Two-Star out of Four Star rating)
Telacu Housing-Hawthorne Inc received a Two-Star rating from Charity Navigator, reflecting a score of 64%. This rating indicates that while the organization meets some standards of accountability and transparency, there are significant areas for improvement. The overall score is influenced by the lack of independent board members and inadequate financial oversight mechanisms.
Strengths of the organization include a strong program expense ratio, indicating that a substantial portion of its budget is directed toward its mission-related activities. Additionally, it has robust policies in place such as a conflict of interest policy and a whistleblower policy, which contribute positively to governance standards. The organization also performed well in audit and oversight, with full points in that category.
However, limitations are evident in several areas, particularly in governance, with no independent board members and low scores in financial statement transparency. The absence of financial documents on the nonprofit's website further compromises accountability. These factors highlight the need for improvement in governance practices to enhance overall effectiveness and trustworthiness.
This AI summary has been generated from information found on Charity Navigator.
Is Telacu Housing-Hawthorne Inc legitimate?
Telacu Housing-Hawthorne Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Telacu Housing-Hawthorne 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-Hawthorne Inc?
Telacu Housing-Hawthorne Inc, a California-based not-for-profit corporation, was established with the objective of operating a 75-unit housing community named Telacu Terrace. This community is specifically 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-Hawthorne Inc is dedicated to improving the living conditions and providing a safe, affordable home for the elderly population facing financial hardships.
Who is the CEO of Telacu Housing-Hawthorne Inc?
Michael Lizarraga is the Principal Officer of Telacu Housing-Hawthorne Inc.
What is the revenue of Telacu Housing-Hawthorne Inc?
Telacu Housing-Hawthorne Inc's revenue in 2022 was $1,076,450.
Who are the executives of Telacu Housing-Hawthorne 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-Hawthorne Inc?
Telacu Housing-Hawthorne Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Telacu Housing-Hawthorne Inc
Telacu Housing-Hawthorne Inc, a California-based not-for-profit organization, was established with the primary mission of providing housing for low-income elderly individuals. The corporation operates a 75-unit community known as Telacu Terrace, located in Hawthorne, California. To achieve this mission, Telacu Housing-Hawthorne Inc receives housing assistance payments from the U.S. Department of Housing and Urban Development under Section 202 of the National Housing Act, which is designed to support such initiatives. The organization's primary goal is to contribute to the well-being of the elderly population by offering them a safe and affordable living space.
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Impact
July, 2024
Telacu Housing-Hawthorne Inc's impact lies in its provision of housing for low-income elderly persons in the city of Hawthorne, California. By operating a 75-unit community known as Telacu Terrace and 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. Through its efforts, Telacu Housing-Hawthorne Inc contributes to enhancing the quality of life and well-being of low-income elderly individuals in the community.
This information is meant to be a general summary of Telacu Housing-Hawthorne 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: $1,349
- Program Service Revenue: $286,005
- Gross Receipts: $1,076,450
Assets and Liabilities:
- Total Assets: $5,015,506
- Total Liabilities: $6,625,782
- Net Assets: -$1,610,276
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$286,005
Organization Details
Founding Year
1989
Phone
(323) 721-1655Principal Officer
Michael Lizarraga
Main Address
5400 E OYLMPIC BLVD 300, LOS ANGELES, CA, 90022
NTEE Category
Code: T99Z - Philanthropy
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