Overview
What is Telacu Housing-Pasadena Inc?
Telacu Housing-Pasadena Inc is a California-based nonprofit corporation, established with the intent to provide housing for very low-income elderly individuals. The organization operates Telacu Courtyard, a 70-unit community situated in Pasadena, California. This community serves as a sanctuary for the elderly, offering them a place to reside. Telacu Housing-Pasadena Inc receives financial support in the form of housing assistance payments from the U.S. Department of Housing and Urban Development, as per Section 202 of the National Housing Act. This funding helps towards the upkeep and maintenance of the community, ensuring that elderly residents can live comfortably.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64%, earning a Two-Star out of Four Star rating. This rating indicates that Telacu Housing-Pasadena Inc has room for improvement in its accountability and financial practices. The organization has a low score for having independent board members and an independent board size, which may raise concerns about governance and oversight.
Despite these weaknesses, Telacu Housing-Pasadena Inc shows strengths in areas such as financial statements oversight, material diversion of assets, and having policies in place for conflict of interest and whistleblowing. The organization also maintains proper documentation of board meeting minutes, which reflects some level of operational transparency.
However, the nonprofit’s lack of transparency in its online presence, including not posting its tax form and having a poor liabilities to assets ratio, is a notable limitation. While the program expense ratio is strong, the overall financial health and governance practices suggest that stakeholders should exercise caution and encourage improvements in accountability measures.
This AI summary has been generated from information found on Charity Navigator.
Is Telacu Housing-Pasadena Inc legitimate?
Telacu Housing-Pasadena Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Telacu Housing-Pasadena 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-Pasadena Inc?
Telacu Housing-Pasadena Inc, a California-based non-profit corporation, was established with the primary goal of providing housing for elderly individuals with low income. The organization operates a 70-unit community named Telacu Courtyard, located in Pasadena, California. The corporation receives funding from the U.S. Department of Housing and Urban Development under Section 202 of the National Housing Act, enabling it to offer subsidized housing for its residents. In essence, Telacu Housing-Pasadena Inc is dedicated to enhancing the living conditions of elderly individuals with limited financial resources by providing them with affordable housing.
Who is the CEO of Telacu Housing-Pasadena Inc?
Michael Lizarraga is the Principal Officer of Telacu Housing-Pasadena Inc.
What is the revenue of Telacu Housing-Pasadena Inc?
Telacu Housing-Pasadena Inc's revenue in 2022 was $698,360.
Who are the executives of Telacu Housing-Pasadena 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-Pasadena Inc?
Telacu Housing-Pasadena Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Telacu Housing-Pasadena Inc
Telacu Housing-Pasadena Inc, a California-based non-profit corporation, was established with a noble mission. Its primary objective is to operate a residential community, known as Telacu Courtyard, catering to the housing needs of elderly individuals with low income. This 70-unit complex, located in Pasadena, California, serves as a sanctuary for this specific demographic. The organization receives financial assistance from the U.S. Department of Housing and Urban Development, under Section 202 of the National Housing Act, which is amended. This support enables Telacu Housing-Pasadena Inc to provide affordable housing solutions to its residents, thereby contributing positively to the community.
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Impact
July, 2024
Telacu Housing-Pasadena Inc provides essential housing for very low-income elderly individuals in Pasadena, California. By operating the Telacu Courtyard community, this organization ensures that these vulnerable individuals have a safe and dignified place to live. Telacu Housing-Pasadena Inc's impact is evident in its direct support for those in need of affordable housing, contributing to the well-being and security of the elderly population in the community.
This information is meant to be a general summary of Telacu Housing-Pasadena 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: $244
- Program Service Revenue: $218,127
- Gross Receipts: $698,360
Assets and Liabilities:
- Total Assets: $2,836,233
- Total Liabilities: $7,630,598
- Net Assets: -$4,794,365
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$218,127
Organization Details
Founding Year
1994
Phone
(323) 721-1655Principal Officer
Michael Lizarraga
Main Address
5400 E OLYMPIC BLVD 300, LOS ANGELES, CA, 90022
NTEE Category
Code: L21 - Housing
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