Overview
What is Telacu Housing-Alhambra Inc?
Telacu Housing-Alhambra Inc is a California-based nonprofit corporation, established in accordance with the state's not-for-profit statutes. Its primary mission is to operate a 67-unit housing project named Telacu Las Palmas, situated in Alhambra, California. This project is specifically designed to provide affordable housing for elderly individuals with low income. Telacu Housing-Alhambra Inc receives financial assistance from the U.S. Department of Housing and Urban Development, in line with Section 202 of the National Housing Act. This support enables the organization to fulfill its commitment to offering secure living arrangements for its residents.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 64%)
Telacu Housing-Alhambra Inc has received a Two-Star rating from Charity Navigator, indicating a need for improvement in its operational practices. With an overall score of 64%, the organization has shown strengths in certain financial practices, such as maintaining an Audit and Oversight Committee and a solid Program Expense Ratio. However, the organization lacks independent board members, which raises concerns about governance and oversight.
The organization's financial accountability is highlighted by a strong score in areas like the management of material diversions of assets and the existence of conflict of interest and whistleblower policies. Nevertheless, significant weaknesses are evident, particularly in its independent board size and the lack of transparency concerning financial documents on its website, which includes not having its tax form readily accessible.
Overall, while Telacu Housing-Alhambra Inc demonstrates some positive financial management practices, it faces critical challenges in governance and transparency, which are essential for building trust with stakeholders and improving its overall rating in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Telacu Housing-Alhambra Inc legitimate?
Telacu Housing-Alhambra Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Telacu Housing-Alhambra 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-Alhambra Inc?
Telacu Housing-Alhambra Inc, a California-based not-for-profit corporation, was established with the primary objective of providing housing for elderly individuals with low income. The organization operates a 67-unit project known as Telacu Las Palmas, situated in Alhambra, California. The corporation receives financial aid in the form of Housing Assistance Payments from the U.S. Department of Housing and Urban Development, under Section 202 of the National Housing Act. In essence, the mission of Telacu Housing-Alhambra Inc is to offer affordable housing solutions for the elderly population, ensuring they have a secure living environment.
Who is the CEO of Telacu Housing-Alhambra Inc?
Michael Lizarraga is the Principal Officer of Telacu Housing-Alhambra Inc.
What is the revenue of Telacu Housing-Alhambra Inc?
Telacu Housing-Alhambra Inc's revenue in 2022 was $567,665.
Who are the executives of Telacu Housing-Alhambra 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-Alhambra Inc?
Telacu Housing-Alhambra Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Telacu Housing-Alhambra Inc
Telacu Housing-Alhambra Inc, as a not-for-profit corporation, was established in compliance with California's not-for-profit statutes. Its primary purpose is to manage a 67-unit residential project named Telacu Las Palmas, situated in Alhambra, California. This project is specifically designed to provide affordable housing for elderly individuals with very low incomes. Telacu Housing-Alhambra Inc receives financial aid in the form of 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. The organization's mission is to ensure that elderly individuals in need of housing assistance have a secure and comfortable living environment.
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Impact
July, 2024
Telacu Housing-Alhambra Inc's impact lies in its provision of affordable housing for very low-income elderly persons in the city of Alhambra, California. Through its operation of the Telacu Las Palmas project, this organization addresses the critical need for housing assistance for vulnerable individuals in the community. By receiving housing assistance payments from the U.S. Department of Housing and Urban Development, Telacu Housing-Alhambra Inc helps ensure that elderly individuals have access to safe and stable housing, thus enhancing their quality of life and overall well-being.
This information is meant to be a general summary of Telacu Housing-Alhambra 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: $827
- Program Service Revenue: $233,102
- Gross Receipts: $567,665
Assets and Liabilities:
- Total Assets: $2,775,015
- Total Liabilities: $5,427,274
- Net Assets: -$2,652,259
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$233,102
Organization Details
Founding Year
1997
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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