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← TELACU EDUCATION FOUNTATION

Form 990 for tax year 2023

Filed by TELACU EDUCATION FOUNTATION.

Totals

Total revenue
$4,092,484
Total expenses
$4,179,321
Contributions and grants received
$4,384,034
Grants paid
$781,154
Program service revenue
$0
Investment income
$56,545
Other revenue
-$348,095
Total assets, end of year
$3,813,540
Total liabilities, end of year
$573,892
Net assets or fund balances, end of year
$3,239,648
Program services expenses (Part IX)
$3,803,853
Management and general expenses
$375,468
Fundraising expenses
$0
Program service expenses (Part III)
$3,803,853

Program services were 91.0% 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.

  • 1c · Fundraising events

    $317,149

  • 1e · Government grants (contributions)

    $2,104,687

  • 1f · All other contributions, gifts and grants

    $1,962,198

  • 3 · Investment income

    total $56,545 · excluded $56,545

  • 8a · Fundraising events: gross income

    $123,432

  • 8a · Fundraising events: contributions included on line 1c

    $317,149

  • 8b · Fundraising events: direct expenses

    $471,598

  • 8c · Net income from fundraising events

    total -$348,166 · excluded -$348,166

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $71 · excluded $71

  • 11e · Other revenue, total

    $71

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $781,154 · program services $781,154

  • 7 · Other salaries and wages

    total $1,813,536 · program services $1,602,790 · management and general $210,746

  • 8 · Pension plan contributions

    total $15,524 · program services $13,660 · management and general $1,864

  • 9 · Other employee benefits

    total $247,055 · program services $215,333 · management and general $31,722

  • 10 · Payroll taxes

    total $142,665 · program services $128,559 · management and general $14,106

  • 11g · Fees: other

    total $26,962 · program services $22,467 · management and general $4,495

  • 12 · Advertising and promotion

    total $42,565 · program services $29,710 · management and general $12,855

  • 13 · Office expenses

    total $71,474 · program services $63,826 · management and general $7,648

  • 16 · Occupancy

    total $18,176 · program services $16,741 · management and general $1,435

  • 22 · Depreciation, depletion and amortization

    total $91,577 · program services $90,356 · management and general $1,221

  • 23 · Insurance

    total $22,969 · management and general $22,969

  • 24a · Other expenses: STUDENT MATERIALS

    total $581,968 · program services $581,968

  • 24b · Other expenses: FACILITY & MEALS

    total $164,325 · program services $164,325

  • 24c · Other expenses: GENERAL & ADMINISTRATIV

    total $159,371 · program services $92,964 · management and general $66,407

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,591,274 · end of year $1,064,601

  • 2 · Savings and temporary cash investments

    beginning of year $1,550,141 · end of year $1,856,686

  • 4 · Accounts receivable

    beginning of year $512,202 · end of year $676,513

  • 9 · Prepaid expenses and deferred charges

    beginning of year $53,252 · end of year $71,497

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

    $588,337

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

    $493,515

  • 10c · Land, buildings and equipment, net

    beginning of year $177,447 · end of year $94,822

  • 15 · Other assets

    beginning of year $41,401 · end of year $49,421

  • 17 · Accounts payable and accrued expenses

    beginning of year $531,242 · end of year $557,405

  • 19 · Deferred revenue

    beginning of year $52,673 · end of year $7,924

  • 25 · Other liabilities

    beginning of year $15,317 · end of year $8,563

  • 27 · Net assets without donor restrictions

    beginning of year $1,766,890 · end of year $1,479,431

  • 28 · Net assets with donor restrictions

    beginning of year $1,559,595 · end of year $1,760,217

Mission and programs · 2023

Mission

THE FOUNDATION PROVIDES SERVICES AND RESOURCES FOR SCHOLARSHIP PROGRAMS AND EDUCATIONAL ENRICHMENT PROGRAMS.

  • PROGRAM DESIGNED TO ASSIST PARTICIPANTS IN ENTERING POST SECONDARY EDUCATIONAL INSTITUTIONS. THE PROGRAM IS FUNDED THROUGH A FEDERAL GRANT AND DONATIONS.

    Expenses $2,453,005 · Grants $612,154

  • PROGRAM DESIGNED TO ENCOURAGE GRAMMAR AND MIDDLE SCHOOL STUDENTS TO COMPLETE SECONDARY AND POST SECONDARY EDUCATION AND ENTER POST SECONDARY EDUCATIONAL INSTITUTIONS. THE PROGRAM IS FUNDED THROUGH A FEDERAL GRANT.

    Expenses $800,774

  • PROGRAM DESIGNED TO ENCOURAGE SECONDARY SCHOOL STUDENTS TO ACQUIRE A POST SECONDARY EDUCATION IN THE FIELD OF NURSING. THE PROGRAM IS FUNDED THROUGH CONTRIBUTIONS.

    Expenses $550,074 · Grants $169,000

As filed on the 2023 return.

Listed in Part VII

  • Michael Lizarraga

    PRESIDENT/DIR

    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

  • David Lizarraga

    DIRECTOR

    Total calculated
    $1,014,835
    From this org
    $0
    From related orgs
    $993,294
    Other
    $21,541
    Hours/week
    1.5 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $843,294 related
    Bonus
    $0 + $100,000 related
    Other
    $0 + $50,000 related
    Deferred
    $0 + $6,000 related
    Nontaxable benefits
    $0 + $15,541 related
    Filer's total
    $0 + $1,014,835 related

  • Priscilla Lizarraga

    VP/SECR/TREAS/DIR

    Total calculated
    $318,545
    From this org
    $0
    From related orgs
    $296,538
    Other
    $22,007
    Hours/week
    0.1 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $196,538 related
    Bonus
    $0 + $100,000 related
    Other
    $0
    Deferred
    $0 + $6,000 related
    Nontaxable benefits
    $0 + $16,007 related
    Filer's total
    $0 + $318,545 related

  • Lauren Lizarraga Gray

    SENIOR VP

    Total calculated
    $210,351
    From this org
    $180,212
    From related orgs
    $0
    Other
    $30,139
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $145,212
    Bonus
    $35,000
    Other
    $0
    Deferred
    $1,000
    Nontaxable benefits
    $29,139
    Filer's total
    $210,351

  • James Hodges

    DIRECTOR

    Total calculated
    $36,000
    From this org
    $0
    From related orgs
    $36,000
    Other
    $0
    Hours/week
    1 + 0.1 related

  • Carmen O Perez

    DIRECTOR

    Total calculated
    $10,000
    From this org
    $0
    From related orgs
    $10,000
    Other
    $0
    Hours/week
    1 + 0.1 related

  • Kristie Hernandez

    DIRECTOR

    Total calculated
    $10,000
    From this org
    $0
    From related orgs
    $10,000
    Other
    $0
    Hours/week
    1 + 0.1 related

  • Fidel Gomez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.1 related

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

  • 2 · Substantiation required before reimbursing expenses
  • 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)

SCHEDULE J LINE 4B
ADDITIONAL COMPENSATION DISCLOSURE--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 12/31/2023, MR. LIZARRAGA 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

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.

  • TELACU DEVELOPMENT LLC

    REAL ESTATE · CA

    Directly controlled by TELACU INDUSTRIES INC

  • POMONA 17 LLC

    REAL ESTATE · CA

    Directly controlled by TELACU DEVELOPMENT LLC

  • 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 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

  • 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 XXIX 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 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

  • NEW MARKETS COMMUNITY CAPITAL XXXIV 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 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

  • 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

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
202443119349302004

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