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Nonprofiteer
← TELACU HOUSING-POMONA II INC

Form 990 for tax year 2023

Filed by TELACU HOUSING-POMONA II INC.

Totals

Total revenue
$660,770
Total expenses
$1,050,348
Contributions and grants received
$364,590
Grants paid
$0
Program service revenue
$285,332
Investment income
$3,536
Other revenue
$7,312
Total assets, end of year
$6,801,889
Total liabilities, end of year
$12,447,523
Net assets or fund balances, end of year
-$5,645,634
Program services expenses (Part IX)
$939,987
Management and general expenses
$110,361
Fundraising expenses
$0
Program service expenses (Part III)
$939,987

Program services were 89.5% 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.

  • 1e · Government grants (contributions)

    $364,590

  • 2a · Program service revenue: RENTAL INCOME

    total $285,332 · related or exempt $285,332

  • 3 · Investment income

    total $3,536 · excluded $3,536

  • 11a · Other revenue: TENANT CHARGES

    total $5,035 · excluded $5,035

  • 11b · Other revenue: LAUNDRY & VENDING

    total $2,277 · excluded $2,277

  • 11e · Other revenue, total

    $7,312

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $99,252 · management and general $99,252

  • 11c · Fees: accounting

    total $8,945 · management and general $8,945

  • 11g · Fees: other

    total $5,947 · program services $5,947

  • 12 · Advertising and promotion

    total $27 · management and general $27

  • 13 · Office expenses

    total $39,157 · program services $39,157

  • 16 · Occupancy

    total $365,991 · program services $365,991

  • 17 · Travel

    total $226 · management and general $226

  • 19 · Conferences, conventions and meetings

    total $1,911 · management and general $1,911

  • 22 · Depreciation, depletion and amortization

    total $331,075 · program services $331,075

  • 23 · Insurance

    total $23,321 · program services $23,321

  • 24a · Other expenses: MANAGEMENT COMPANY EMPL

    total $106,203 · program services $106,203

  • 24b · Other expenses: SERVICE COORDINATOR

    total $68,293 · program services $68,293

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,985 · end of year $12,208

  • 4 · Accounts receivable

    beginning of year $139 · end of year $3,120

  • 9 · Prepaid expenses and deferred charges

    beginning of year $39,078 · end of year $47,013

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

    $11,020,349

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

    $4,802,191

  • 10c · Land, buildings and equipment, net

    beginning of year $6,532,767 · end of year $6,218,158

  • 13 · Investments: program-related

    beginning of year $495,237 · end of year $501,917

  • 15 · Other assets

    beginning of year $19,275 · end of year $19,473

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,464,813 · end of year $1,562,544

  • 19 · Deferred revenue

    beginning of year $313 · end of year $1,353

  • 23 · Secured mortgages and notes payable

    beginning of year $10,864,688 · end of year $10,864,688

  • 25 · Other liabilities

    beginning of year $18,723 · end of year $18,938

  • 27 · Net assets without donor restrictions

    beginning of year -$5,256,056 · end of year -$5,645,634

Mission and programs · 2023

Mission

TELACU HOUSING - POMONA II, INC. IS A NOT-FOR-PROFIT CORPORATION FORMED IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF CALIFORNIA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF OPERATING A 70 UNIT PROJECT KNOWN AS TELACU LAS ESPERANZA LOCATED IN POMONA, CALIFORNIA, WHICH PROVIDES HOUSING FOR VERY LOW-INCOME ELDERLY PERSONS. THE CORPORATION RECEIVES HOUSING ASSISTANCE PAYMENTS FROM THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT, AS AMENDED.

  • TELACU HOUSING - POMONA II, INC. IS A NOT-FOR-PROFIT CORPORATION FORMED IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF CALIFORNIA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF OPERATING A 70 UNIT PROJECT KNOWN AS TELACU LAS ESPERANZA LOCATED IN POMONA, CALIFORNIA, WHICH PROVIDES HOUSING FOR VERY LOW-INCOME ELDERLY PERSONS. THE CORPORATION RECEIVES HOUSING ASSISTANCE PAYMENTS FROM THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT, AS AMENDED.

    Expenses $939,987 · Revenue $285,332

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

Listed in Part VII

  • MICHAEL D LIZARRAGA

    PRESIDENT

    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

  • TOM PROVENCIO

    VICE PRESIDENT & TREASURER

    Total calculated
    $276,355
    From this org
    $0
    From related orgs
    $259,729
    Other
    $16,626
    Hours/week
    0.1 + 40 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

  • PAUL SAMUEL

    SECRETARY

    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

  • JOSE ELIZONDO

    DIRECTOR

    Total calculated
    $25,640
    From this org
    $0
    From related orgs
    $25,640
    Other
    $0
    Hours/week
    0.1 + 0.7 related

  • ALEX SOTOMAYOR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 0.7 related

  • JAMES HODGES

    DIRECTOR

    Total calculated
    $36,000
    From this org
    $0
    From related orgs
    $36,000
    Other
    $0
    Hours/week
    0.1 + 0.7 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)

SCHEDULE J, LINE 4B
ADDITIONAL COMPENSATION DISCLOSURE--MICHAEL LIZARRAGA IN ADDITION TO THE $30,000 401(K) PLAN, THE PRESIDENT WILL RECEIVE FROM A RELATED ORGANIZATION AN EXECUTIVE RETIREMENT BENEFIT PAYABLE UPON RETIREMENT OF $175,000 A YEAR FOR LIFE. 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.
SCHEDULE J, LINE 4B
ADDITIONAL COMPENSATION DISCLOSURE -- TOM PROVENCIO IN ADDITION TO THE $15,930 401(K) PLAN, MR. PROVENCIO WILL RECEIVE FROM A RELATED ORGANIZATION A DEFERRED COMPENSATION LUMP SUM PAYMENT OF $200,000 UPON RETIREMENT. AS OF 12/31/2023, MR. PROVENCIO WAS 100% VESTED.
SCHEDULE J, LINE 4B
ADDITIONAL COMPENSATION DISCLOSURE--PAUL SAMUEL IN ADDITION TO THE $30,000 401(K) PLAN, MR. SAMUEL WILL RECEIVE FROM A RELATED ORGANIZATION A DEFERRED COMPENSATION LUMP SUM PAYMENT WITH A CURRENT VALUE OF APPROXIMATELY $136,114. AS OF 12/31/2023, MR. SAMUEL WAS 100% VESTED.
SCHEDULE J, PART II
THE BOARD OF DIRECTORS ESTABLISHES THE TOP MANAGEMENT OFFICIAL'S COMPENSATION. THE COMPENSATION POLICY IS DETERMINED BASED UPON OCCASIONAL COMPENSATION STUDIES PERFORMED BY AN INDEPENDENT CONSULTANT.

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.

Related partnerships

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

Related corporations and trusts

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

Provenance

Return type
form_990
Tax year
2023
Filed
4 November 2024
IRS schema version
2023v5.1
Source object
202423099349303102

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