Overview
What is Telacu Housing-Los Angeles Inc?
Telacu Housing-Los Angeles Inc is a California-based nonprofit corporation, established in accordance with the state's not-for-profit statutes. Its primary mission is to operate Telacu Pointe, an 84-unit housing community situated in Los Angeles, catering to low-income elderly residents. The corporation receives financial assistance from the U.S. Department of Housing and Urban Development through Section 202 of the National Housing Act, enabling it to provide affordable housing solutions for its residents. Telacu Housing-Los Angeles Inc aims to enhance living conditions and contribute positively to the community, thereby fostering a supportive environment for its elderly population.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
Telacu Housing-Los Angeles Inc has received a Two-Star out of Four Star rating from Charity Navigator, indicating a need for improvement in several areas of governance and transparency. The overall score of 64% reflects concerns regarding the composition and independence of its board members, as it scored zero points in both the majority independent board members and independent board size categories.
On a positive note, the organization excels in financial oversight, having scored full marks in its audit and oversight committee. Additionally, it has robust policies in place for conflict of interest, whistleblowing, and document retention. However, the absence of independent board members raises questions about the organization's governance structure.
Despite a solid program expense ratio, the nonprofit struggles with transparency as evidenced by the lack of financial statements posted on its website and a poor liabilities to assets ratio score. This combination of strengths and weaknesses suggests that while Telacu Housing-Los Angeles Inc is actively engaged in its mission, there are critical areas that require attention to enhance its accountability and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Telacu Housing-Los Angeles Inc legitimate?
Telacu Housing-Los Angeles Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Telacu Housing-Los Angeles 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-Los Angeles Inc?
Telacu Housing-Los Angeles Inc, as a not-for-profit corporation, was established with the primary objective of providing housing for low-income elderly individuals. The corporation operates an 84-unit community named Telacu Pointe, situated in Los Angeles, California. It 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 such housing initiatives. The mission of Telacu Housing-Los Angeles Inc can be summarized as committing to enhancing the living conditions for elderly individuals with limited income, offering them a safe and comfortable residential environment. The corporation's work significantly contributes to the well-being of this specific demographic, ensuring they can live with dignity and security.
Who is the CEO of Telacu Housing-Los Angeles Inc?
Michael Lizarraga is the Principal Officer of Telacu Housing-Los Angeles Inc.
What is the revenue of Telacu Housing-Los Angeles Inc?
Telacu Housing-Los Angeles Inc's revenue in 2022 was $778,576.
Who are the executives of Telacu Housing-Los Angeles 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-Los Angeles Inc?
Telacu Housing-Los Angeles Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Telacu Housing-Los Angeles Inc
Telacu Housing-Los Angeles Inc, a not-for-profit corporation, was established with a mission to provide housing for low-income elderly individuals. Formed in accordance with California's not-for-profit statutes, this organization operates an 84-unit community known as Telacu Pointe, situated in Los Angeles, California. The corporation's primary objective is to serve this specific demographic, offering them a place to call home. Telacu Housing-Los Angeles Inc receives housing assistance payments from the U.S. Department of Housing and Urban Development, in line with Section 202 of the National Housing Act, which has been amended. This funding enables the corporation to fulfill its mission of offering secure and affordable housing solutions to elderly individuals with limited income.
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Impact
July, 2024
Telacu Housing-Los Angeles Inc's impact is significant in providing housing for low-income elderly persons in Los Angeles. Through its operation of Telacu Pointe, an 84-unit community, the organization ensures that vulnerable individuals have access to safe and affordable housing. By receiving housing assistance payments from the U.S. Department of Housing and Urban Development, Telacu Housing-Los Angeles Inc is able to fulfill its mission of serving this underserved population and improving their quality of life.
This information is meant to be a general summary of Telacu Housing-Los Angeles 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: $529
- Program Service Revenue: $334,994
- Gross Receipts: $778,576
Assets and Liabilities:
- Total Assets: $2,833,248
- Total Liabilities: $7,852,182
- Net Assets: -$5,018,934
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$334,994
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: L21Z - Housing
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