Telacu Education Fountation

“Michael lizarraga president/ceo is the son of david lizarraga chairman and priscilla lizarraga vp/secretary/treasurer.”

“Board of directors of the east los angeles community union, a 501(c)(3) organization, selects the board of directors.”

“Form 990 is presented to the chief financial officer who forwards a copy of the return to each board member for comments prior to filing.”

“Review the policy on an annual basis with the board of directors to make sure that everyone is in compliance. Additional meetings will occur if necessary.”

“The compensation policy is determined based upon occasional compensation studies performed by an independent consultant.”

“The form 990 and all related financial and policy information are made available to the public upon written request.”

“Average number of hours worked all of the officers, directors, and employees listed in part vii, section a perform similar duties and have similar responsibilities for related organizations as they do for this organization. That is, they make major decisions and provide management services. While the duties and responsibilities are similar, those listed in part vii, section a do not spend the same amount of time on each type of related entity. The hours worked per week are not recorded for officers; 48 hours is being reported as the amount worked for related organizations. While 48 hours per week is listed, the officers often work more than 48 hours per week.”

“Additional compensation disclosure--michael lizarraga in addition to the $26,000 401(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 12/31/2020, mr. Lizarraga was 25% vested in the benefit. In addition, mr. Lizarraga will receive deferred compensation lump sum payment with a current value of approximately $125,000. As of 12/31/2020, mr. Lizarraga was 100% vested.”

“Oversight of auditing function the management company receives a copy of the audit. Prior to the finalization of the audit, a copy of the audit is given to all of the board members for their comments. When the audit is up for bid, the board discusses the relationship with the current auditors and makes a determination as to whether to maintain this relationship or change to a new auditing firm.”