Overview
What is Telacu Housing-El Monte Inc?
Telacu Housing-El Monte Inc is a California-based nonprofit corporation, established in compliance with the state's not-for-profit regulations. Its primary purpose is to manage a 70-unit housing project named Telacu Amador, situated in El Monte, California. This project offers affordable housing solutions for elderly individuals with very low incomes. The organization receives financial assistance from the U.S. Department of Housing and Urban Development through Section 202 of the National Housing Act, enabling them to provide essential housing services. Telacu Housing-El Monte Inc is dedicated to enhancing the quality of life for its residents and contributing to the local community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64%, Two-Star out of Four Star Rating.
Telacu Housing-El Monte Inc has received a Two-Star rating, reflecting a score of 64% primarily based on its Accountability & Finance metrics. The organization has performed well in areas such as financial statements oversight and has no reported material diversion of assets, indicating a strong foundational integrity in these aspects. However, the lack of independent board members and a website that does not host the tax form are notable weaknesses that contributed to the overall rating.
While the organization excels with a program expense ratio of 25 out of 25, which suggests efficient allocation of funds towards its mission, it falls short in governance areas. The absence of independent board members and a small board size may raise concerns about oversight and diverse perspectives in decision-making. Additionally, the failure to provide necessary financial documents on its website could hinder transparency for potential donors and stakeholders.
In summary, Telacu Housing-El Monte Inc demonstrates strengths in financial stewardship and a commitment to maintaining proper governance policies, yet it faces significant limitations in board independence and public financial transparency. Potential supporters may want to consider these factors when evaluating their engagement with the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Telacu Housing-El Monte Inc legitimate?
Telacu Housing-El Monte Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Telacu Housing-El Monte 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-El Monte Inc?
Telacu Housing-El Monte Inc, a California-based not-for-profit corporation, was established with the objective of providing housing for low-income elderly individuals. They operate a 70-unit project named Telacu Amador, situated in El Monte, California. The corporation receives financial assistance from the U.S. Department of Housing and Urban Development under Section 202 of the National Housing Act, enabling them to fulfill their mission. While the provided information does not explicitly state a mission statement, it can be inferred that their primary purpose is to offer affordable housing solutions for the elderly population in need.
Who is the CEO of Telacu Housing-El Monte Inc?
Michael D Lizarraga is the President of Telacu Housing-El Monte Inc.
What is the revenue of Telacu Housing-El Monte Inc?
Telacu Housing-El Monte Inc's revenue in 2022 was $638,932.
Who are the executives of Telacu Housing-El Monte 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-El Monte Inc?
Telacu Housing-El Monte Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Telacu Housing-El Monte Inc
Telacu Housing-El Monte Inc, a California-based not-for-profit corporation, was established with a specific mission. This organization was formed to manage a 70-unit housing project named Telacu Amador, located in El Monte, California. The primary purpose of this project is to provide affordable housing for elderly individuals with very low incomes. To achieve this mission, Telacu Housing-El Monte Inc receives housing assistance payments from the U.S. Department of Housing and Urban Development, under Section 202 of the National Housing Act, which has been amended. This support enables the organization to ensure that the elderly residents can afford to live in a safe and comfortable environment.
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Impact
July, 2024
Telacu Housing-El Monte Inc's impact is evident in providing much-needed housing for very low-income elderly persons in El Monte, California. Through its 70-unit project, Telacu Amador, the organization ensures that this vulnerable population has access to affordable and safe housing. By receiving housing assistance payments from the U.S. Department of Housing and Urban Development, Telacu Housing-El Monte Inc plays a vital role in addressing the housing needs of elderly individuals who may otherwise struggle to find suitable accommodation. The organization's commitment to serving this specific demographic reflects its dedication to improving the quality of life for those in need within the community.
This information is meant to be a general summary of Telacu Housing-El Monte 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: $466
- Program Service Revenue: $252,341
- Gross Receipts: $638,932
Assets and Liabilities:
- Total Assets: $2,198,029
- Total Liabilities: $5,588,224
- Net Assets: -$3,390,195
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$252,341
Organization Details
Founding Year
1994
Phone
(323) 721-1655Principal Officer
Michael D Lizarraga
Main Address
5400 E OLYMPIC BLVD 300, LOS ANGELES, CA, 90022
NTEE Category
Code: L20 - Housing
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