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Nonprofiteer
← TELACU HOMES INC

Form 990 for tax year 2023

Filed by TELACU HOMES INC.

Totals

Total revenue
$3,122
Total expenses
$71,250
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$3,122
Other revenue
$0
Total assets, end of year
$717,964
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$717,964
Program services expenses (Part IX)
$71,250
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$71,250

Program services were 100.0% 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.

  • 3 · Investment income

    total $3,122 · excluded $3,122

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $15,000 · program services $15,000

  • 11c · Fees: accounting

    total $6,200 · program services $6,200

  • 23 · Insurance

    total $772 · program services $772

  • 24a · Other expenses: ALLOC SALARIES/PR TAX

    total $49,253 · program services $49,253

  • 24b · Other expenses: FILING FEES

    total $25 · program services $25

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $785,714 · end of year $469,464

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $248,122

  • 9 · Prepaid expenses and deferred charges

    beginning of year $378 · end of year $378

  • 27 · Net assets without donor restrictions

    beginning of year $786,092 · end of year $717,964

Mission and programs · 2023

Mission

GENERAL PARTNER IN CERTAIN LOW INCOME HOUSING TAX CREDIT PARTNERSHIPS

  • PROVIDE LOW INCOME HOUSING TO DISABLED & ELDERLY AND ORGANIZATION SERVES AS GENERAL PARTNER IN LOW INCOME HOUSING TAX CREDIT PARTNERSHIPS

    Expenses $71,250

As filed on the 2023 return.

Listed in Part VII

  • John Clem

    PRES/DIRECTOR

    Total calculated
    $820,909
    From this org
    $0
    From related orgs
    $795,040
    Other
    $25,869
    Hours/week
    0.1 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $510,040 related
    Bonus
    $0 + $285,000 related
    Other
    $0
    Deferred
    $0 + $6,000 related
    Nontaxable benefits
    $0 + $19,869 related
    Filer's total
    $0 + $820,909 related

  • Michael Lizarraga

    COO/SEC/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

  • Paul Samuel

    CFO/DIRECTOR/ASST. SEC.

    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

    DIRECTOR

    Total calculated
    $259,342
    From this org
    $0
    From related orgs
    $251,689
    Other
    $7,653
    Hours/week
    0.1 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $226,689 related
    Bonus
    $0 + $25,000 related
    Other
    $0
    Deferred
    $0 + $6,000 related
    Nontaxable benefits
    $0 + $1,653 related
    Filer's total
    $0 + $259,342 related

  • Tom F Provencio

    DIRECTOR

    Total calculated
    $276,355
    From this org
    $0
    From related orgs
    $259,729
    Other
    $16,626
    Hours/week
    0.1 + 48 related

    Schedule J breakdown matched by us

    Base
    $0 + $199,729 related
    Bonus
    $0 + $60,000 related
    Other
    $0
    Deferred
    $0 + $3,186 related
    Nontaxable benefits
    $0 + $13,440 related
    Filer's total
    $0 + $276,355 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

  • 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 3
INFORMATION REGARDING COMPENSATION IS PROVIDED BY A RELATED ORGANIZATION THROUGH WHICH A STUDY IS PERFORMED BY AN INDEPENDENT CONSULTANT.
PART I, LINE 4B
MICHAEL LIZARRAGA, COO/SEC/DIR IN ADDITION TO THE $30,000 401(K) PLAN, MR. LIZARRAGA WILL RECEIVE AN EXECUTIVE RETIREMENT BENEFIT PAYABLE UPON RETIREMENT OF $175,000 A YEAR FOR LIFE FROM A RELATED ORGANIZATION. AS OF 12/31/23, MR LIZARRAGA WAS 60% VESTED IN THE BENEFIT. IN ADDITION, MR. LIZARRAGA WILL RECEIVE A DEFERRED COMPENSATION LUMP SUM PAYMENT FROM A RELATED ORGANIZATION WITH A CURRENT VALUE OF APPROXIMATELY $147,277 AS OF 12/31/23. MR. LIZARRAGA WAS 100% VESTED. PAUL SAMUEL, CFO/ASST SEC/DIRECTOR IN ADDITION TO THE $30,000 401(K) PLAN, MR. SAMUEL WILL RECEIVE A DEFERRED COMPENSATION LUMP SUM PAYMENT FROM A RELATED ORGANIZATION WITH A CURRENT VALUE OF APPROXIMATELY $136,114 AS OF 12/31/23. MR. SAMUEL WAS 100% VESTED. TOM PROVENCIO, DIRECTOR IN ADDITION TO THE $15,930 401(K) PLAN, MR. PROVENCIO WILL RECEIVE A DEFERRED COMPENSATION LUMP SUM PAYMENT FROM A RELATED ORGANIZATION WITH A VALUE OF $200,000 AS OF 12/31/23. MR. PROVENCIO 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.

  • TELACU DEVELOPMENT LLC

    REAL ESTATE · CA

    Directly controlled by TELACU INDUSTRIES INC

  • POMONA 17 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 CONSTRUCT ENG TEAM

    CONSTRUCTION · CA

  • MONTEBELLO DOWNTOWN PLAZA LP

    LOW INCOME HOUSING · CA

    Directly controlled by TELACU AFFORDABLE HOUSING II INC

  • MONTEBELLO SENIOR VILLAS LP

    LOW INCOME HOUSING · CA

    Directly controlled by TELACU AFFORDABLE HOUSING II INC

  • NEW MARKETS COMMUNITY CAPITAL XIX LLC

    REAL ESTATE · CA

    Directly controlled by NEW MKT CO

  • NEW MARKETS COMMUNITY CAPITAL XV LLC

    REAL ESTATE · CA

    Directly controlled by NEW MKT CO

  • NEW MARKETS COMMUNITY CAPITAL XVI LLC

    REAL ESTATE · CA

    Directly controlled by NEW MKT CO

  • NEW MARKETS COMMUNITY CAPITAL XVII LLC

    REAL ESTATE · CA

    Directly controlled by NEW MKT CO

  • NEW MARKETS COMMUNITY CAPITAL XVIII LLC

    REAL ESTATE · CA

    Directly controlled by NEW MKT CO

  • NEW MARKETS COMMUNITY CAPITAL XX LLC

    REAL ESTATE · CA

    Directly controlled by NEW MKT CO

  • NEW MARKETS COMMUNITY CAPITAL XXI LLC

    REAL ESTATE · CA

    Directly controlled by NEW MKT CO

  • NEW MARKETS COMMUNITY CAPITAL XXII LLC

    REAL ESTATE · CA

    Directly controlled by NEW MKT CO

  • NEW MARKETS COMMUNITY CAPITAL XXIII LLC

    REAL ESTATE · CA

    Directly controlled by NEW MKT CO

  • NEW MARKETS COMMUNITY CAPITAL XXIX LLC

    REAL ESTATE · CA

    Directly controlled by NEW MKT CO

  • NEW MARKETS COMMUNITY CAPITAL XXVIII LLC

    REAL ESTATE · CA

    Directly controlled by NEW MKT CO

  • NEW MARKETS COMMUNITY CAPITAL XXX LLC

    REAL ESTATE · CA

    Directly controlled by NEW MKT CO

  • NEW MARKETS COMMUNITY CAPITAL XXXI LLC

    REAL ESTATE · CA

    Directly controlled by NEW MKT CO

  • NEW MARKETS COMMUNITY CAPITAL XXXII LLC

    REAL ESTATE · CA

    Directly controlled by NEW MKT CO

  • NEW MARKETS COMMUNITY CAPITAL XXXIII LLC

    REAL ESTATE · CA

    Directly controlled by NEW MKT CO

  • NEW MARKETS COMMUNITY CAPITAL LLC

    COMMUNITY DEVELOPMENT · CA

    Directly controlled by TELACU INDUSTRIES INC

  • SOUTH GATE SENIOR VILLAS LP

    LOW INCOME HOUSING · CA

    Directly controlled by TELACU AFFORDABLE HOUSING II INC

  • SYCAMORE BAKERSFIELD AR LP

    LOW INCOME HOUSING · CA · general or managing partner

    Directly controlled by TELACU HOMES INC

  • VIA CAMPO SENIOR VILLAS LP

    LOW INCOME HOUSING · CA

    Directly controlled by TELACU AFFORDABLE HOUSING II INC

  • WEST COVINA SENIOR VILLAS II LP

    LOW INCOME HOUSING · CA

    Directly controlled by TELACU AFFORDABLE HOUSING II INC

  • WEST COVINA SENIOR VILLAS LP

    LOW INCOME HOUSING · CA

    Directly controlled by TELACU AFFORDABLE HOUSING II INC

  • NEW MARKETS COMMUNITY CAPITAL XXXIV LLC

    REAL ESTATE · CA

    Directly controlled by TWAIN INVESTMENT FUND 718 LLC

  • NEW MARKETS COMMUNITY CAPITAL XXXV LLC

    REAL ESTATE · CA

    Directly controlled by COCRF INVESTOR 215 LLC

  • NEW MARKETS COMMUNITY CAPITAL XXXVI LLC

    REAL ESTATE · CA

    Directly controlled by FRM PHASE II INVESTMENT FUND LLC

  • NEW MARKETS COMMUNITY CAPITAL XXXVII LLC

    REAL ESTATE · CA

    Directly controlled by NEW MKT CO

  • NEW MARKETS COMMUNITY CAPITAL XXXVIII LLC

    REAL ESTATE · CA

    Directly controlled by NEW MKT CO

  • NEW MARKETS COMMUNITY CAPITAL XXXIX LLC

    REAL ESTATE · CA

    Directly controlled by NEW MKT CO

  • NEW MARKETS COMMUNITY CAPITAL XL LLC

    REAL ESTATE · CA

    Directly controlled by NEW MKT CO

  • NEW MARKETS COMMUNITY CAPITAL XLI LLC

    REAL ESTATE · CA

    Directly controlled by NEW MKT CO

  • NEW MARKETS COMMUNITY CAPITAL XLII LLC

    REAL ESTATE · CA

    Directly controlled by NEW MKT CO

Related corporations and trusts

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

  • COMMUNITY COMMERCE BANK

    C · THRIFT & LOAN · CA

  • EASTLAND LEASING

    C · LEASING · CA

  • INTER-CITY ENERGY SYSTEMS INC

    C · INSULATION · CA

  • SOUTH COAST SHINGLE

    C · BUILDING MATERIALS · CA

  • TELACU 1270 INC

    C · REAL ESTATE · CA

  • TELACU 55005600 INC

    C · REAL ESTATE · CA

  • TELACU AFFORDABLE HOUSING INC

    C · DEVELOPER · CA

  • TELACU COMMUNITY CREDIT CORP

    C · BROKER · CA

  • TELACU CONSTRUCTION COMPANY

    C · HOLDING COMPANY · CA

  • TELACU CONSTRUCTION MANAGEMENT

    C · MANAGEMENT · CA

  • TELACU DEVELOPMENT CORP

    C · REAL ESTATE · CA

  • TELACU FINANCIAL SERVICES INC

    C · HOLDING COMPANY · CA

  • TELACU INDUSTRIES INC

    C · MANAGEMENT · CA

  • TELACU INTER-CITY HOUSING INC

    C · DEVELOPER · CA

  • TELACU INVESTMENT COMPANY

    C · INVESTMENT COMPANY · CA

  • TELACU NW FIVE INC

    C · REAL ESTATE · CA

  • TELACU PROPERTY MANAGEMENT

    C · PROPERTY MANAGEMENT · CA

  • TELACU REAL ESTATE SERVICES

    C · REAL ESTATE · CA

  • TELALINK CORPORATION

    C · CONSTRUCTION · CA

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202413209349323891

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