Overview
What is Telacu Housing-Monterey Hills Inc?
Telacu Housing-Monterey Hills Inc is a California-based nonprofit corporation, established in accordance with the state's not-for-profit laws. Its purpose is to manage a 100-unit residential community named Telacu Vistas del Sol, situated in Los Angeles, California. The community primarily houses low-income elderly individuals. Telacu Housing-Monterey Hills Inc receives financial assistance from the U.S. Department of Housing and Urban Development, under Section 202 of the National Housing Act, to support its mission. The organization's primary focus revolves around providing affordable housing for this specific demographic.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64%, Two-Star out of Four Star rating.
Telacu Housing-Monterey Hills Inc has received a rating of 64%, indicating a Two-Star designation primarily due to its performance in accountability and finance metrics. The organization has strong financial oversight with a perfect score in its audit and oversight committee, as well as in its policies regarding conflict of interest, whistleblower protection, and document retention. However, it lacks in several areas related to board independence and transparency, which are reflected in its low scores for board member independence and the posting of financial documents on its website.
The organization has demonstrated a commitment to maintaining integrity in financial management, achieving a complete score in program expense ratio, which suggests that a significant portion of its expenditures is directed towards its mission. However, the absence of independent board members raises questions about governance and oversight, which could impact stakeholder confidence.
In summary, while Telacu Housing-Monterey Hills Inc showcases strong financial practices and policies, its governance structure needs improvement to enhance accountability and transparency. Stakeholders should consider these factors when assessing the organization's overall effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Telacu Housing-Monterey Hills Inc legitimate?
Telacu Housing-Monterey Hills Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Telacu Housing-Monterey Hills 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-Monterey Hills Inc?
Telacu Housing-Monterey Hills Inc, a California-based not-for-profit organization, was established with the primary objective of providing housing for low-income elderly individuals. The corporation operates a 100-unit community named Telacu Vistas del Sol, situated in Los Angeles. To support this mission, Telacu Housing-Monterey Hills Inc receives housing assistance payments from the U.S. Department of Housing and Urban Development under Section 202 of the National Housing Act, enhancing their capacity to cater to this specific demographic. The organization's purpose is to ensure that elderly individuals with limited income have access to secure and comfortable living accommodations.
Who is the CEO of Telacu Housing-Monterey Hills Inc?
Michael Lizarraga is the Principal Officer of Telacu Housing-Monterey Hills Inc.
What is the revenue of Telacu Housing-Monterey Hills Inc?
Telacu Housing-Monterey Hills Inc's revenue in 2022 was $918,989.
Who are the executives of Telacu Housing-Monterey Hills 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-Monterey Hills Inc?
Telacu Housing-Monterey Hills Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Telacu Housing-Monterey Hills Inc
Telacu Housing-Monterey Hills Inc, a not-for-profit corporation established in accordance with California's not-for-profit statutes, was formed with a mission to provide housing for low-income elderly individuals. The organization operates a 100-unit community known as Telacu Vistas del Sol, located in Los Angeles, California. Telacu Housing-Monterey Hills 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 intended to support such initiatives. The corporation's purpose is to create a supportive living environment for elderly individuals who may have limited financial resources, enabling them to maintain their independence and dignity in their later years.
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Impact
July, 2024
Telacu Housing-Monterey Hills Inc's impact is focused on providing housing for low-income elderly persons in the city of Los Angeles through its community known as Telacu Vistas Del Sol. This initiative helps address the housing needs of a 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-Monterey Hills Inc is able to support individuals who may otherwise struggle to find suitable housing options. Ultimately, the organization's efforts contribute to enhancing the quality of life for low-income elderly individuals in the Los Angeles area.
This information is meant to be a general summary of Telacu Housing-Monterey Hills 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: $552
- Program Service Revenue: $349,989
- Gross Receipts: $918,989
Assets and Liabilities:
- Total Assets: $3,662,241
- Total Liabilities: $11,422,340
- Net Assets: -$7,760,099
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$349,989
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: L22 - Housing
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