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Telacu Manor INC FY2020 filing

Tax-deductible

Commerce, CA501(c)(3)Housing EIN 95-4072123Revenue $967K in FY2020

On file with the IRS5400 E Olympic Blvd Ste 300, 90022-5187 · Commerce, CATax-exempt since Jun 1991Publicly supported charity — 170(b)(1)(A)(vi)

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Telacu Manor, 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 75 unit community known as Telacu Manor located in commerce, california, which provides housing for 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.

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $95K a year · 9% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Plus $864K in investments, Pt X · Ln 11–13
Fine: 1.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$5.5M
144% of total assets
Concern: liabilities are 144% of assets; over 80%.
Pt X · Ln 26
Independent board members
1
of 6 voting members
Worth a look: 1 of 6 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$967K
Spent
$871K
To programs
88%
Net assets
−$1.7M
By yearFY2020–FY2024
Revenue
$967K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$967K
FY2021$975K
FY2022$994K
FY2023$1.0M
FY2024$1.1M
Expenses
$871K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$871K
FY2021$936K
FY2022$886K
FY2023$926K
FY2024$1.0M
Net assets
−$1.7M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020−$1.7M
FY2021−$1.6M
FY2022−$1.5M
FY2023−$1.4M
FY2024−$1.3M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 1991.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $766K Management & general 12% · $105K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Tom Provencio
Vice President & Treasurer
$0Pt VII · Sec A
Paul Samuel
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
James Hodges
Director
$0Pt VII · Sec A
See Telacu Manor INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides affordable housing for low-income seniors.

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1 program · $766K · in their own filed words · FY2020
01

Telacu manor, 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 75 unit community known as telacu manor located in commerce, california, which provides housing for low-income elderly persons.

$766Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$967K
Ln 12
Gifts and grantsLn 1h$678K
Fees for servicesLn 2g$284K
Other incomeLn 4–11$4K
Money outPt IX
$871K
Ln 25
Programscol B$766K
Managementcol C$105K
Owns and owesPt X
−$1.7M
net assets · Ln 32
Cash and savingsLn 1–2$102K
Total assetsLn 16$3.8M
LiabilitiesLn 26$5.5M
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$678K
Government grantsLn 1e$678K
Fees for servicesLn 2g$284K
Investment incomeLn 3$1K
Other incomeLn 4–11$4K
Total revenueLn 12$967K
Assets in detailPt X, end of year
CashLn 1$102K
Cash and savings togetherLn 1–2$102K
InvestmentsLn 11–13$864K
Land, buildings, equipmentLn 10c$2.6M
Other assetsLn 15$50K
Total assetsLn 16$3.8M
LiabilitiesLn 26$5.5M
Net assetsLn 32−$1.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$63K$102K
InvestmentsLn 11–13$873K$864K
Land, buildings, equipmentLn 10c$2.6M$2.6M
Total assetsLn 16$3.8M$3.8M
LiabilitiesLn 26$5.6M$5.5M
Net assetsLn 32−$1.8M−$1.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$86K$86K
Legal feesLn 11b$6K$6K
Accounting feesLn 11c$8K$8K
Other fees for servicesLn 11g$10K$6K$4K
Office expensesLn 13$33K$33K
Information technologyLn 14$519$519
OccupancyLn 16$422K$422K
TravelLn 17$1K$1K
Conferences, conventions and meetingsLn 19$209$209
Depreciation, depletion and amortizationLn 22$103K$103K
InsuranceLn 23$45K$45K
Other expenses (24a–d)Ln 24$158K$158K
Total functional expensesLn 25$871K$766K$105K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.1M$1.0M$131K−$1.3M 990 PDF
FY2023 $1.0M$926K$98K−$1.4M 990 PDF
FY2022 $994K$886K$108K−$1.5M 990 PDF
FY2021 $975K$936K$39K−$1.6M 990 PDF
FY2020 Viewing $967K$871K$96K−$1.7M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $967,016 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $653,109$677,796
I-9 Program service revenuePrior year $284,729$284,413
I-10 Investment incomePrior year $2,100$1,275
I-11 Other revenuePrior year $3,902$3,532
I-12 Total revenuePrior year $943,840$967,016
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $906,311$870,843
I-18 Total expensesPrior year $906,311$870,843
I-19 Revenue less expensesPrior year $37,529$96,173
Part VI · Governance 1 of 6 board members independent, no flags
VI-1a Voting members of the governing body6
VI-1b Independent voting members1
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $967,016 across 6 lines filed
VIII-1e Government grants$677,796
VIII-1h Total contributions, gifts and grants$677,796
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $284,413$284,413
VIII-3 Investment incomeExcluded from tax $1,275$1,275
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $3,532$3,532
VIII-12 Total revenueRelated to mission $284,413 · Unrelated business $0 · Excluded from tax $4,807$967,016
Part IX · Statement of functional expenses $870,843 across 12 lines filed
IX-11a Management feesManagement $85,519$85,519
IX-11b Legal feesManagement $5,591$5,591
IX-11c Accounting feesManagement $7,715$7,715
IX-11g Other fees for servicesPrograms $5,985 · Management $4,127$10,112
IX-13 Office expensesPrograms $32,684$32,684
IX-14 Information technologyManagement $519$519
IX-16 OccupancyPrograms $421,591$421,591
IX-17 TravelManagement $1,099$1,099
IX-19 Conferences, conventions and meetingsManagement $209$209
IX-22 Depreciation, depletion and amortizationPrograms $103,268$103,268
IX-23 InsurancePrograms $44,553$44,553
IX-24 Other expenses (24a–d)Programs $157,983$157,983
IX-25 Total functional expensesPrograms $766,064 · Management $104,779 · Fundraising $0$870,843
Part X · Balance sheet $3,813,888 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $63,043$102,129
X-4 Accounts receivableStart of year $2,781$9,651
X-9 Prepaid expenses and deferred chargesStart of year $19,082$20,214
X-10c Land, buildings and equipment, netStart of year $2,632,510$2,615,588
X-13 Program-related investmentsStart of year $873,005$863,870
X-14 Intangible assetsStart of year $157,570$152,500
X-15 Other assetsStart of year $74,795$49,936
X-16 Total assetsStart of year $3,822,786$3,813,888
X-17 Accounts payable and accrued expensesStart of year $98,877$88,342
X-19 Deferred revenueStart of year $476$623
X-25 Other liabilitiesStart of year $21,180$22,957
X-26 Total liabilitiesStart of year $5,579,749$5,474,678
X-27 Net assets without donor restrictionsStart of year −$1,756,963−$1,660,790
X-32 Total net assets or fund balancesStart of year −$1,756,963−$1,660,790
X-33 Total liabilities and net assetsStart of year $3,822,786$3,813,888
Part XI · Reconciliation of net assets −$1,660,790 net assets at year end
XI-1 Total revenue$967,016
XI-2 Total expenses$870,843
XI-3 Revenue less expenses$96,173
XI-4 Net assets at start of year−$1,756,963
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$1,660,790

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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