Overview
What is Telacu Housing-National City Inc?
Telacu Housing-National City Inc is a California-based nonprofit corporation, established to address the housing needs of elderly individuals with low income. The organization operates Telacu Southbay Manor, a 76-unit project located in National City, California. This project is specifically designed to provide affordable housing for this demographic. Telacu Housing-National City Inc receives financial aid from the U.S. Department of Housing and Urban Development through Section 202 of the National Housing Act, thereby enabling them to fulfill their mission effectively.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64%, earning a Two-Star out of Four Star rating.
Telacu Housing-National City Inc has received a Two-Star rating from Charity Navigator, indicating that while the organization demonstrates some degree of accountability and financial health, there are several areas needing improvement. The overall score of 64% reflects a lack of independent board members and a small board size, which can affect governance and oversight.
Strengths identified include a perfect score in financial statements auditing and oversight, as well as strong policies regarding conflict of interest, whistleblower protections, and document retention. The program expense ratio is also commendable, suggesting that a significant portion of their expenditures goes directly to their programs.
However, the organization has several critical limitations, including a low score in the liabilities to assets ratio, which raises concerns about financial stability. Additionally, the lack of transparency is evident through failed compliance in posting essential tax forms and the organization's website. These factors contribute to the overall Two-Star rating, highlighting the need for improvements in governance and financial practices.
This AI summary has been generated from information found on Charity Navigator.
Is Telacu Housing-National City Inc legitimate?
Telacu Housing-National City Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Telacu Housing-National City 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-National City Inc?
Telacu Housing-National City Inc is a not-for-profit corporation, established in compliance with California's not-for-profit statutes. Its primary objective is to manage a 76-unit housing project, named Telacu Southbay Manor, located in an unspecified city in California. This project is specifically designed to provide affordable housing for elderly individuals with very low incomes. The corporation receives financial assistance for this project from the U.S. Department of Housing and Urban Development, under Section 202 of the National Housing Act. While the information provided does not explicitly mention a mission statement, it can be inferred that Telacu Housing-National City Inc's mission is to provide affordable housing for the elderly, in compliance with the guidelines set by the U.S. Department of Housing and Urban Development.
Who is the CEO of Telacu Housing-National City Inc?
Michael Lizarraga is the Principal Officer of Telacu Housing-National City Inc.
What is the revenue of Telacu Housing-National City Inc?
Telacu Housing-National City Inc's revenue in 2022 was $704,949.
Who are the executives of Telacu Housing-National City 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-National City Inc?
Telacu Housing-National City Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Telacu Housing-National City Inc
Telacu Housing-National City Inc, a California-based not-for-profit corporation, was established with the primary objective of providing housing for elderly individuals with very low incomes. The organization operates a 76-unit project named Telacu Southbay Manor located in National City, California. Telacu Housing-National City Inc 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 supporting affordable housing for vulnerable populations. The corporation's mission is to contribute to the well-being of its residents by offering them a safe and comfortable living environment.
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Impact
July, 2024
Telacu Housing-National City Inc makes a significant impact in providing housing for very low-income elderly persons through its operation of the 76-unit Telacu Southbay Manor project in National City, California. This initiative helps address the critical need for affordable housing for a vulnerable population, ensuring that these individuals have a safe and stable place to live. By receiving housing assistance payments from the U.S. Department of Housing and Urban Development, Telacu Housing-National City Inc plays a crucial role in supporting the well-being and security of elderly individuals facing economic challenges.
This information is meant to be a general summary of Telacu Housing-National City 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: $793
- Program Service Revenue: $276,419
- Gross Receipts: $704,949
Assets and Liabilities:
- Total Assets: $2,698,948
- Total Liabilities: $5,862,830
- Net Assets: -$3,163,882
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$276,419
Organization Details
Founding Year
1992
Phone
(323) 721-1655Principal Officer
Michael Lizarraga
Main Address
5400 E OLYMPIC BLVD 300, LOS ANGELES, CA, 90022
NTEE Category
Code: L210 - Housing
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