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Nonprofiteer
← TELACU RESIDENTIAL MANAGEMENT INC

Form 990 for tax year 2023

Filed by TELACU RESIDENTIAL MANAGEMENT INC.

Totals

Total revenue
$6,590,611
Total expenses
$6,013,670
Contributions and grants received
$0
Grants paid
$4,076
Program service revenue
$4,464,106
Investment income
-$175,401
Other revenue
$2,301,906
Total assets, end of year
$5,317,565
Total liabilities, end of year
$1,512,220
Net assets or fund balances, end of year
$3,805,345
Program services expenses (Part IX)
$5,476,573
Management and general expenses
$537,097
Fundraising expenses
$0
Program service expenses (Part III)
$5,476,573

Program services were 91.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: PROG.SERV.REVENUE-RELATED-990

    total $4,464,106 · related or exempt $4,464,106

  • 3 · Investment income

    total $203 · related or exempt $203

  • 7b · Less cost or other basis and sales expenses

    other assets $175,604

  • 7c · Gain or loss

    other assets -$175,604

  • 7d · Net gain or loss

    total -$175,604 · related or exempt -$175,604

  • 11a · Other revenue: PROPERTY MANAGEMENT FEES

    total $1,184,396 · related or exempt $1,184,396

  • 11b · Other revenue: INSURANCE PROCEEDS-CASUALTY LOSS

    total $531,603 · related or exempt $531,603

  • 11c · Other revenue: CONSULTING

    total $503,351 · related or exempt $503,351

  • 11d · All other revenue

    total $82,556 · related or exempt $82,556

  • 11e · Other revenue, total

    $2,301,906

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,076 · program services $4,076

  • 5 · Compensation of officers, directors and key employees

    total $251,689 · program services $251,689

  • 7 · Other salaries and wages

    total $3,902,659 · program services $3,902,659

  • 8 · Pension plan contributions

    total $48,612 · program services $48,612

  • 9 · Other employee benefits

    total $301,855 · program services $301,855

  • 10 · Payroll taxes

    total $314,402 · program services $314,402

  • 11a · Fees: management

    total $360,000 · management and general $360,000

  • 11b · Fees: legal

    total $47,906 · management and general $47,906

  • 11c · Fees: accounting

    total $13,190 · management and general $13,190

  • 13 · Office expenses

    total $292,030 · program services $292,030

  • 16 · Occupancy

    total $243,249 · program services $243,249

  • 17 · Travel

    total $62,361 · management and general $62,361

  • 19 · Conferences, conventions and meetings

    total $53,640 · management and general $53,640

  • 22 · Depreciation, depletion and amortization

    total $45,816 · program services $45,816

  • 23 · Insurance

    total $72,185 · program services $72,185

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,672,798 · end of year $1,705,634

  • 4 · Accounts receivable

    beginning of year $32,610 · end of year $727,809

  • 9 · Prepaid expenses and deferred charges

    beginning of year $49,354 · end of year $52,831

  • 10a · Land, buildings and equipment: cost or other basis

    $397,205

  • 10b · Land, buildings and equipment: accumulated depreciation

    $190,636

  • 10c · Land, buildings and equipment, net

    beginning of year $339,636 · end of year $206,569

  • 15 · Other assets

    beginning of year $1,695,889 · end of year $2,624,722

  • 17 · Accounts payable and accrued expenses

    beginning of year $472,976 · end of year $1,489,976

  • 25 · Other liabilities

    beginning of year $94,413 · end of year $22,244

  • 27 · Net assets without donor restrictions

    beginning of year $3,222,898 · end of year $3,805,345

Mission and programs · 2023

Mission

MANAGEMENT OF PROJECTS RELATED TO LOW INCOME HOUSING FOR THE DISABLED AND ELDERLY (HUD PROJECTS) PURSUANT TO SECTION 202 AND 811 OF THE NATIONAL HOUSING ACT, AS AMENDED. CORPORATION HAS RECEIVED CERTIFICATION FOR MANAGEMENT OF MULTIFAMILY HOUSING PROJECTS FROM THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT.

  • MANAGEMENT OF PROJECTS RELATED TO LOW INCOME HOUSING FOR THE DISABLED AND ELDERLY (HUD PROJECTS) PURSUANT TO SECTION 202 AND 811 OF THE NATIONAL HOUSING ACT, AS AMENDED. CORPORATION HAS RECEIVED CERTIFICATION FOR MANAGEMENT OF MULTIFAMILY HOUSING PROJECTS FROM THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT.

    Expenses $5,476,573 · Grants $4,076 · Revenue $6,590,611

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Michael Lizarraga

    CHAIRMAN/DIRECTOR

    Total calculated
    $2,130,153
    From this org
    $0
    From related orgs
    $2,093,190
    Other
    $36,963
    Hours/week
    0.1 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $584,550 related
    Bonus
    $0 + $1,500,000 related
    Other
    $0 + $8,640 related
    Deferred
    $0 + $6,000 related
    Nontaxable benefits
    $0 + $30,963 related
    Filer's total
    $0 + $2,130,153 related

  • Paul Samuel

    CFO/SECRETARY/DIRECTOR

    Total calculated
    $1,027,512
    From this org
    $0
    From related orgs
    $992,373
    Other
    $35,139
    Hours/week
    0.1 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $547,733 related
    Bonus
    $0 + $436,000 related
    Other
    $0 + $8,640 related
    Deferred
    $0 + $6,000 related
    Nontaxable benefits
    $0 + $29,139 related
    Filer's total
    $0 + $1,027,512 related

  • Jasmine Borrego

    PRESIDENT/DIRECTOR

    Total calculated
    $259,341
    From this org
    $251,689
    From related orgs
    $0
    Other
    $7,652
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $226,689
    Bonus
    $25,000
    Other
    $0
    Deferred
    $6,000
    Nontaxable benefits
    $1,652
    Filer's total
    $259,341

  • Christien Tran

    VP OF ACCOUNTING

    Total calculated
    $194,083
    From this org
    $189,583
    From related orgs
    $0
    Other
    $4,500
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $164,583
    Bonus
    $25,000
    Other
    $0
    Deferred
    $4,500
    Nontaxable benefits
    $0
    Filer's total
    $194,083

  • Angelique D'Silva-Williams

    VP OF COMPLIANCE & STRATEGY

    Total calculated
    $175,919
    From this org
    $145,966
    From related orgs
    $0
    Other
    $29,953
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $130,966
    Bonus
    $15,000
    Other
    $0
    Deferred
    $3,132
    Nontaxable benefits
    $26,821
    Filer's total
    $175,919

  • Vebby Fransiska G Kwee

    CONTROLLER

    Total calculated
    $129,954
    From this org
    $126,325
    From related orgs
    $0
    Other
    $3,629
    Hours/week
    48

  • Michelle Cuevas

    VP OF CORPORATE ADMIN

    Total calculated
    $135,357
    From this org
    $123,424
    From related orgs
    $0
    Other
    $11,933
    Hours/week
    48

  • Sylvia Theresa McCann

    VP OF ASSET MANAGEMENT

    Total calculated
    $140,883
    From this org
    $117,151
    From related orgs
    $0
    Other
    $23,732
    Hours/week
    48

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4B
MICHAEL LIZARRAGA - IN ADDITION TO THE $30,000 401(K) PLAN, THE PRESIDENT WILL RECEIVE AN EXECUTIVE RETIREMENT BENEFIT PAYABLE UPON RETIREMENT OF $175,000 A YEAR FOR LIFE FROM A RELATED ORGANIZATION. AS OF 12/31/2023, MR. LIZARRAGA WAS 60% VESTED IN THE BENEFIT. IN ADDITION, MR. LIZARRAGA WILL RECEIVE DEFERRED COMPENSATION LUMP SUM PAYMENT WITH A CURRENT VALUE OF APPROXIMATELY $147,277. AS OF 12/31/23, MR. LIZARRAGA WAS 100% VESTED. PAUL SAMUEL - IN ADDITION TO THE $30,000 401(K) PLAN, MR. SAMUEL WILL RECEIVE A DEFERRED COMPENSATION LUMP SUM PAYMENT WITH A CURRENT VALUE OF APPROXIMATELY $136,114 FROM A RELATED ORGANIZATION. AS OF 12/31/2023, MR. SAMUEL WAS 100% VESTED.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • POMONA 17 LLC

    REAL ESTATE · CA

    Directly controlled by TELACU DEVELOPMENT LLC

  • TELACU DEVELOPMENT LLC

    REAL ESTATE · CA

    Directly controlled by TELACU INDUSTRIES INC

  • TELACU MUSIC LLC

    PROMOTIONAL AND COMMERCIAL MUSICAL RECORDING · CA

    Directly controlled by TELACU INDUSTRIES INC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • ALAMEDA CORRIDOR CONSTRUCTION ENGINEERING TEAM

    CONSTRUCTION · CA · general or managing partner

  • MONTEBELLO DOWNTOWN PLAZA LP

    LOW INCOME HOUSING · CA · general or managing partner

  • MONTEBELLO SENIOR VILLAS LP

    LOW INCOME HOUSING · CA · general or managing partner

  • MONTEREY PARK SENIOR VILLAGE LP

    LOW INCOME HOUSING · CA · general or managing partner

  • NEW MARKET COMMUNITY CAPITAL LLC

    COMMUNITY DEVELOPMENT · CA

  • NEW MARKETS COMMUNITY CAPITAL XIX LLC

    REAL ESTATE · CA · general or managing partner

  • NEW MARKETS COMMUNITY CAPITAL XV LLC

    REAL ESTATE · CA · general or managing partner

  • NEW MARKETS COMMUNITY CAPITAL XVI LLC

    REAL ESTATE · CA · general or managing partner

  • NEW MARKETS COMMUNITY CAPITAL XVII LLC

    REAL ESTATE · CA · general or managing partner

  • NEW MARKETS COMMUNITY CAPITAL XVIII LLC

    REAL ESTATE · CA · general or managing partner

  • NEW MARKETS COMMUNITY CAPITAL XX LLC

    REAL ESTATE · CA · general or managing partner

  • NEW MARKETS COMMUNITY CAPITAL XXI LLC

    REAL ESTATE · CA · general or managing partner

  • NEW MARKETS COMMUNITY CAPITAL XXII LLC

    REAL ESTATE · CA · general or managing partner

  • NEW MARKETS COMMUNITY CAPITAL XXIII LLC

    REAL ESTATE · CA · general or managing partner

  • NEW MARKETS COMMUNITY CAPITAL XXVIII LLC

    REAL ESTATE · CA · general or managing partner

  • NEW MARKETS COMMUNITY CAPITAL XXIX LLC

    REAL ESTATE · CA · general or managing partner

  • NEW MARKETS COMMUNITY CAPITAL XXX LLC

    REAL ESTATE · CA · general or managing partner

  • NEW MARKETS COMMUNITY CAPITAL XXXI LLC

    REAL ESTATE · CA · general or managing partner

  • NEW MARKETS COMMUNITY CAPITAL XXXII LLC

    REAL ESTATE · CA · general or managing partner

  • NEW MARKETS COMMUNITY CAPITAL XXXIII LLC

    REAL ESTATE · CA · general or managing partner

  • SOUTH GATE SENIOR VILLAS LP

    LOW INCOME HOUSING · CA · general or managing partner

  • SYCAMORE BAKERSFIELD AR LP

    LOW INCOME HOUSING · CA · general or managing partner

  • VIA CAMPO SENIOR VILLAS LP

    LOW INCOME HOUSING · CA · general or managing partner

  • WEST COVINA SENIOR VILLAS II LP

    LOW INCOME HOUSING · CA · general or managing partner

  • WEST COVINA SENIOR VILLAS LP

    LOW INCOME HOUSING · CA · general or managing partner

  • NEW MARKETS COMMUNITY CAPITAL XXXIV LLC

    REAL ESTATE · CA · general or managing partner

  • NEW MARKETS COMMUNITY CAPITAL XXXV LLC

    REAL ESTATE · CA · general or managing partner

  • NEW MARKETS COMMUNITY CAPITAL XXXVI LLC

    REAL ESTATE · CA · general or managing partner

  • NEW MARKETS COMMUNITY CAPITAL XXXVII LLC

    REAL ESTATE · CA · general or managing partner

  • NEW MARKETS COMMUNITY CAPITAL XXXVIII LLC

    REAL ESTATE · CA · general or managing partner

  • NEW MARKETS COMMUNITY CAPITAL XXXIX LLC

    REAL ESTATE · CA · general or managing partner

  • NEW MARKETS COMMUNITY CAPITAL XL LLC

    REAL ESTATE · CA · general or managing partner

  • NEW MARKETS COMMUNITY CAPITAL XLI LLC

    REAL ESTATE · CA · general or managing partner

  • NEW MARKETS COMMUNITY CAPITAL XLII LLC

    REAL ESTATE · CA · general or managing partner

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • TELACU INDUSTRIES INC

    C · MANAGEMENT · CA

  • TELACU FINANCIAL SERVICES INC

    C · HOLDING COMPANY · CA

  • COMMUNITY COMMERCE BANK

    C · THRIFT & LOAN · CA

  • SOUTH COAST SHINGLE COMPANY

    C · BUILDING MATERIALS · CA

  • INTER-CITY ENERGY SYSTEMS INC

    C · INSULATION · CA

  • TELACU CONSTRUCTION COMPANY

    C · HOLDING COMPANY · CA

  • TELACU REAL ESTATE SERVICES

    C · REAL ESTATE · CA

  • TELACU CONSTRUCTION MANAGEMENT

    C · MANAGEMENT · CA

  • TELACU PROPERTY MANAGEMENT INC

    C · PROPERTY MANAGEMENT · CA

  • TELACU DEVELOPMENT CORP

    C · REAL ESTATE · CA

  • TELACU AFFORDABLE HOUSING INC

    C · DEVELOPER · CA

  • TELACU INTER-CITY HOUSING INC

    C · DEVELOPER · CA

  • TELACU INVESTMENT COMPANY

    C · INVESTMENT COMPANY · CA

  • TELALINK CORPORATION

    C · CONSTRUCTION · CA

  • EASTLAND LEASING

    C · LEASING · CA

  • TELACU NW FIVE INC

    C · REAL ESTATE · CA

  • TELACU 1270 INC

    C · REAL ESTATE · CA

  • TELACU 55005600 INC

    C · REAL ESTATE · CA

  • TELACU COMMUNITY CREDIT CORP

    C · BROKER · CA

Provenance

Return type
form_990
Tax year
2023
Filed
5 November 2024
IRS schema version
2023v5.1
Source object
202423139349301217

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