Torrance Health Association Inc
- Assets
- $167.5m
- Revenue
- $242.5m
- Investments
- $3.8m
- Employees
- 879
- Location
- Torrance, CA
- Founding
- 05/1985
- Data as of
- 06/2022
- EIN
- 33-0073515
Organization Overview
Torrance Health Association Inc is located in Torrance, CA. The organization was established in 1985. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 06/2022, Torrance Health Association Inc employed 879 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Torrance Health Association Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Torrance Health Association Inc generated $242.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.4% each year. All expenses for the organization totaled $274.4m during the year ending 06/2022. While expenses have increased by 9.4% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TORRANCE HEALTH ASSOCIATION (THA) SUPPORTS TORRANCE MEMORIAL MEDICAL CENTER (TMMC) AND ITS CHARITABLE MISSION OF PROVIDING HEALTH SERVICES TO THE COMMUNITY OF TORRANCE, CA AND SURROUNDING AREAS.
Describe the Organization's Program Activity:
TORRANCE MEMORIAL PHYSICIAN NETWORK (TMPN) IS A PRIMARY CARE AND MULTI-SPECIALTY NETWORK OF PHYSICIANS AND HEALTH PROFESSIONALS FOCUSED ON IMPROVING THE LIVES AND HEALTH OF THE POPULATION IN THE COMMUNITY. THEIR FOCUS IS ON FAMILY AND INTERNAL MEDICINE, BUT ALSO OFFERS SUB-SPECIALTY MEDICAL SERVICES SUCH AS ENDOCRINOLOGY, RHEUMATOLOGY, OB-GYN, CANCER CARE, PALLIATIVE CARE, NEUROLOGY, CARDIOLOGY, PEDIATRICS, PAIN MANAGEMENT, ORTHOPEDICS, RADIOLOGY, PHYSICAL THERAPY AND REHABILITATION, SLEEP STUDIES, URGENT CARE, AND DIABETES CARE. TMPN PROVIDES GUIDANCE ON WHAT MEDICAL SCREENING IS NEEDED AND WHEN TO HAVE THEM. THE PARTNERSHIP WITH TORRANCE MEMORIAL HEALTH SYSTEM BRINGS VALUABLE RESOURCES THAT ENABLE THEM TO PROVIDE A HIGHER LEVEL OF COORDINATED, COMPASSIONATE, AND HIGHLY PERSONAL CARE. TMPN EMPHASIZES COMMUNICATION AND COLLABORATIVE APPROACH TO INTEGRATED CARE FOR THE WHOLE PATIENT.
TORRANCE MEMORIAL IPA (TMIPA) IS A MULTI-SPECIALTY PHYSICIAN NETWORK THAT OFFERS OVER 130 PRIMARY CARE DOCTORS AND 390 SPECIALISTS TO ITS MEMBERS AS WELL AS THE NATIONALLY RECOGNIZED TORRANCE MEMORIAL MEDICAL CENTER. TMIPA GIVES EASY ACCESS TO THE SOUTH BAY'S LEADING DOCTORS, SPECIALISTS, AND HEALTHCARE PRACTITIONERS AND HAS BEEN SERVING THE SOUTH BAY COMMUNITY FOR OVER 30 YEARS. THEY PROVIDE PERSONALIZED, CUTTING-EDGE MEDICAL CARE TO ITS MEMBERS. THE VARIED EDUCATIONAL AND EXPERIENTIAL BACKGROUNDS OF THE TMIPA LEADERSHIP, RANGING FROM MEDICINE OVER PUBLIC HEALTH TO MANAGEMENT, ALLOW A BROAD AND COMPREHENSIVE APPROACH TO THE MEDICAL CARE OF ITS MEMBERS.
THA PROVIDES FACILITIES FOR THE HOSPITAL'S (TMMC) SATELLITE BREAST DIAGNOSTIC SERVICES. THE SATELLITE CENTERS HELP MAKE MAMMOGRAMS MORE ACCESSIBLE AND AVAILABLE TO WOMEN IN THE COMMUNITY. ON BEHALF OF TORRANCE MEMORIAL MEDICAL CENTER (TMMC), TORRANCE HEALTH ASSOCIATION (THA) MAKES STRATEGIC FINANCIAL AND LEGAL DECISIONS, IDENTIFIES AVAILABLE RESOURCES, AND PROVIDES DIRECTION AND GUIDANCE IN ORDER TO MAXIMIZE RESOURCES AVAILABLE FOR US IN DELIVERING COST-EFFECTIVE HEALTH CARE TO THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed President/ceo /assist Treasurer | OfficerTrustee | 22 | $1,184,933 |
Name Not Listed Vice Chairman | OfficerTrustee | 1 | $0 |
Name Not Listed Chairman | OfficerTrustee | 1 | $0 |
Name Not Listed Secretary | OfficerTrustee | 1 | $0 |
Name Not Listed Treasurer | OfficerTrustee | 3 | $0 |
Name Not Listed Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Advanced Medical Management Inc Medical | 6/29/22 | $3,194,642 |
Torrance Anesthesia Medical Group Medical | 6/29/22 | $2,963,436 |
Association Of Southbay Surgeons Medical | 6/29/22 | $1,967,190 |
Csi Medical Group Medical | 6/29/22 | $1,850,387 |
Genesis Healthcare Partners Pc Medical | 6/29/22 | $1,511,512 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $183,924 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $183,924 |
| Total Program Service Revenue | $237,659,779 |
| Investment income | $180,545 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,451,630 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $242,475,878 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,897,664 |
| Compensation of current officers, directors, key employees. | $1,897,664 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $71,847,208 |
| Pension plan accruals and contributions | $2,497,271 |
| Other employee benefits | $5,049,233 |
| Payroll taxes | $4,598,133 |
| Fees for services: Management | $48,792 |
| Fees for services: Legal | $15,468 |
| Fees for services: Accounting | $66,333 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $124,940,306 |
| Advertising and promotion | $328,789 |
| Office expenses | $43,987,995 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,308,841 |
| Travel | $11,482 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $126,937 |
| Interest | $2,518,209 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,750,795 |
| Insurance | $703,101 |
| All other expenses | $0 |
| Total functional expenses | $274,370,665 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,577,409 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,934,620 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $463,814 |
| Prepaid expenses and deferred charges | $1,085,862 |
| Net Land, buildings, and equipment | $94,334,291 |
| Investments—publicly traded securities | $7,909,778 |
| Investments—other securities | $3,819,863 |
| Investments—program-related | $239,624 |
| Intangible assets | $807,698 |
| Other assets | $36,368,364 |
| Total assets | $167,541,323 |
| Accounts payable and accrued expenses | $28,345,467 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $503,021 |
| Other liabilities | $119,747,046 |
| Total liabilities | $148,595,534 |
| Net assets without donor restrictions | $18,945,789 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $167,541,323 |