Overview
What is Telacu Housing-Whittier Inc?
Telacu Housing-Whittier Inc, established in accordance with California's not-for-profit statutes, is a dedicated organization with a mission to provide housing for low-income elderly individuals. Situated in Whittier, California, the corporation operates a 75-unit project named Telacu Villa Hermosa. This project serves as a home for the elderly, offering them much-needed shelter. The corporation receives financial assistance from the U.S. Department of Housing and Urban Development under Section 202 of the National Housing Act. The organization's primary focus is on ensuring the well-being and housing needs of this vulnerable population in the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 64%, Two-Star out of Four Star rating.
Telacu Housing-Whittier Inc has received a Two-Star rating from Charity Navigator, indicating a below-average performance in terms of accountability and finance. The organization scored 64% overall, demonstrating some strengths in financial oversight with perfect scores in areas such as audit and oversight committee practices, conflict of interest policy, and whistleblower policy. However, the lack of independent board members and transparency issues, such as not having its tax form posted on its website, negatively impacted its overall score.
While the organization shows a strong commitment to certain governance practices, the absence of independent board members raises concerns about its accountability. Additionally, the liabilities to assets ratio, which received a score of 0 out of 15 points, suggests potential financial risks that could affect its sustainability. Overall, the rating reflects both the strengths in program expenses but also highlights significant areas for improvement in governance and financial transparency.
Prospective donors may want to consider these factors when evaluating their support for Telacu Housing-Whittier Inc, as it may indicate potential challenges in organizational management and accountability. Ensuring that a charity has a strong and independent governance structure is essential for fostering trust and effective stewardship of donor resources.
This AI summary has been generated from information found on Charity Navigator.
Is Telacu Housing-Whittier Inc legitimate?
Telacu Housing-Whittier Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Telacu Housing-Whittier 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-Whittier Inc?
Telacu Housing-Whittier Inc, a California-based non-profit corporation, was established with the purpose of operating a 75-unit housing project named Telacu Villa Hermosa. This project provides affordable housing for low-income elderly individuals. The corporation receives financial assistance from the U.S. Department of Housing and Urban Development under Section 202 of the National Housing Act, aiming to support vulnerable elderly populations. While the provided information does not specify an explicit mission statement, it suggests that the organization's primary focus is to provide housing solutions for the elderly with limited financial means.
Who is the CEO of Telacu Housing-Whittier Inc?
Michael Lizarraga is the Principal Officer of Telacu Housing-Whittier Inc.
What is the revenue of Telacu Housing-Whittier Inc?
Telacu Housing-Whittier Inc's revenue in 2022 was $755,316.
Who are the executives of Telacu Housing-Whittier 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-Whittier Inc?
Telacu Housing-Whittier Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Telacu Housing-Whittier Inc
Telacu Housing-Whittier Inc, a California-based not-for-profit corporation, was established with a mission to provide housing for low-income elderly individuals. The organization was formed in accordance with the not-for-profit statutes of the state and was given the mandate to manage a 75-unit project named Telacu Villa Hermosa, situated in Whittier, California. This project serves as a home for elderly persons who fall under the low-income category. Telacu Housing-Whittier Inc receives financial assistance to operate this project from the U.S. Department of Housing and Urban Development, under Section 202 of the National Housing Act, which was amended. This support enables the corporation to provide affordable housing solutions to its target demographic, thereby contributing to their well-being and quality of life.
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Impact
July, 2024
Telacu Housing-Whittier Inc's impact lies in providing crucial housing support for low-income elderly individuals in the city of Whittier, California. Through its operation of the 75-unit Telacu Villa Hermosa project, the organization helps ensure that this vulnerable demographic has access to affordable and suitable housing. By receiving housing assistance payments from the U.S. Department of Housing and Urban Development, Telacu Housing-Whittier Inc plays a vital role in meeting the housing needs of the elderly population in the community. This direct impact on the lives of low-income elderly individuals demonstrates the organization's commitment to addressing housing challenges and improving the quality of life for those in need.
This information is meant to be a general summary of Telacu Housing-Whittier 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: $1,005
- Program Service Revenue: $281,256
- Gross Receipts: $755,316
Assets and Liabilities:
- Total Assets: $2,991,077
- Total Liabilities: $6,748,321
- Net Assets: -$3,757,244
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$281,256
Organization Details
Founding Year
1997
Phone
(323) 721-1655Principal Officer
Michael Lizarraga
Main Address
5400 E OLYMPIC BLVD 300, LOS ANGELES, CA, 90022
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