Texas Medical Center Central Heat And Cooling Services Corp, operating under the name Thermal Energy Corporation, is located in Houston, TX. The organization was established in 2002. According to its NTEE Classification (E60) the organization is classified as: Health Support, under the broad grouping of Health Care and related organizations. As of 08/2021, Thermal Energy Corporation employed 102 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Thermal Energy Corporation 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 08/2021, Thermal Energy Corporation generated $124.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.7% each year. All expenses for the organization totaled $66.4m during the year ending 08/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
OPERATING A CENTRAL HEATING AND COOLING SERVICES FACILITY SOLELY FOR THE BENEFIT OF GOVERNMENTAL AND NOT-FOR-PROFIT ORGANIZATIONS IN THE TEXAS MEDICAL CENTER.
Describe the Organization's Program Activity:
OPERATING A CENTRAL HEATING AND COOLING SERVICES FACILITY SOLELY FOR THE BENEFIT OF GOVERNMENT INSTITUTIONS AND NOT-FOR-PROFIT ORGANIZATIONS LOCATED IN THE TEXAS MEDICAL CENTER. ELIGIBLE INSTITUTIONS INCLUDE: CHI ST. LUKE'S HEALTH, TEXAS CHILDREN'S HOSPITAL, THE UNIVERSITY OF TEXAS SYSTEM, THE UNIVERSITY OF TEXAS M.D. ANDERSON CANCER CENTER, THE UNIVERSITY OF TEXAS HEALTH SCIENCE CENTER AT HOUSTON, TEXAS MEDICAL CENTER, TEXAS WOMAN'S UNIVERSITY, MEMORIAL HERMANN HOSPITAL SYSTEM, THE TEXAS A AND M UNIVERSITY SYSTEM, HOUSTON ACADEMY OF MEDICINE, CITY OF HOUSTON, TX, UNIVERSITY OF HOUSTON, USDA CHILDREN'S NUTRITIONAL RESEARCH CENTER, MEMORIAL HERMANN/TIRR, SHRINERS HOSPITALS FOR CHILDREN, HOUSTON COMMUNITY COLLEGE SYSTEM, BAYLOR COLLEGE OF MEDICINE, HOUSTON METHODIST, HARRIS COUNTY, TEXAS, HARRIS COUNTY HOSPITAL DISTRICT, AND HOUSTON INDEPENDENT SCHOOL DISTRICT.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Stephen Swinson President And CEO | Officer | 40 | $845,127 |
Jason Berrio VP Operations, Assistant Secr | Officer | 40 | $256,395 |
Michael Manoucheri VP Eng And Mnt, Assistant Secr | Officer | 40 | $235,974 |
Carolyn Luomala VP Finance, Treasurer | Officer | 40 | $212,475 |
Jess Harper Supv Sr. Project Engineer | 40 | $192,617 | |
Mycah Jewell Maintenance Manager | 40 | $188,918 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Tellepsen Industrial Llc Construction Svcs | 8/30/21 | $4,609,126 |
Gowan Inc General Contractor | 8/30/21 | $720,154 |
Johnson Controls Inc General Contractor | 8/30/21 | $784,076 |
Shamrock Farrell Llc General Contractor | 8/30/21 | $543,891 |
Burns Mcdonnell Engineering Engineering Services | 8/30/21 | $532,378 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
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 | $0 |
Total Program Service Revenue | $123,803,634 |
Investment income | $1,678,261 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$1,452,376 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $124,104,670 |
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. | $2,176,792 |
Compensation of current officers, directors, key employees. | $816,083 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $9,205,581 |
Pension plan accruals and contributions | $612,971 |
Other employee benefits | $2,578,243 |
Payroll taxes | $733,499 |
Fees for services: Management | $0 |
Fees for services: Legal | $68,380 |
Fees for services: Accounting | $114,692 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $180,488 |
Fees for services: Other | $1,872,911 |
Advertising and promotion | $0 |
Office expenses | $243,997 |
Information technology | $296,240 |
Royalties | $0 |
Occupancy | $0 |
Travel | $2,236 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $1,034 |
Interest | $8,094,773 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $20,396,925 |
Insurance | $1,775,028 |
All other expenses | $301,555 |
Total functional expenses | $66,362,196 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $14,105,576 |
Savings and temporary cash investments | $89,301,084 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $8,919,563 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $4,781,642 |
Prepaid expenses and deferred charges | $1,486,605 |
Net Land, buildings, and equipment | $402,110,259 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $1,003,325 |
Other assets | $30,506,364 |
Total assets | $552,214,418 |
Accounts payable and accrued expenses | $13,037,294 |
Grants payable | $0 |
Deferred revenue | $42,462,517 |
Tax-exempt bond liabilities | $296,700,367 |
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 | $0 |
Other liabilities | $1,465,957 |
Total liabilities | $353,666,135 |
Net assets without donor restrictions | $198,548,283 |
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 | $552,214,418 |
Over the last fiscal year, we have identified 1 grants that Texas Medical Center Central Heat And Cooling Services Corp has recieved totaling $208,000.
Awarding Organization | Amount |
---|---|
The National Hemophilia Foundation New York, NY PURPOSE: 2 JGP RESEARCH FELLOWSHIPS PROMOTING INNOVATION IN BLEEDING AND CLOTTING DISORDERS | $208,000 |
Organization Name | Assets | Revenue |
---|---|---|
Memorial Hermann Pharmacy Services Llc Houston, TX | $29,741,846 | $92,541,796 |
C H Wilkinson Physician Network Irving, TX | $18,493,293 | $55,946,217 |
Texas Medical Center Central Heat And Cooling Services Corp Houston, TX | $552,214,418 | $124,104,670 |
Childrens Hospital Anesthesia Corporation New Orleans, LA | $9,380,564 | $40,921,301 |
Special Health Resources For Texas Incorporated Longview, TX | $12,164,703 | $41,038,454 |
Southwest Texas Regional Advisory Council For Trauma San Antonio, TX | $14,124,309 | $34,120,331 |
Hidalgo Medical Services Lordsburg, NM | $24,918,182 | $25,217,740 |
Southeast Texas Regional Advisory Council Houston, TX | $4,089,891 | $16,447,154 |
The Preemptive Love Coalition Hewitt, TX | $18,071,135 | $12,206,645 |
Texas Health Medical Support Arlington, TX | $2,020,699 | $9,800,763 |
Parkland Center For Clinical Innovation Dallas, TX | $12,723,447 | $7,843,853 |
Community Health Connection Inc Tulsa, OK | $9,079,749 | $13,914,137 |