Torrance Memorial Medical Center Health Care Foundation is located in Torrance, CA. The organization was established in 1981. According to its NTEE Classification (E21) the organization is classified as: Community Health Systems, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Torrance Memorial Medical Center Health Care Foundation 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 06/2021, Torrance Memorial Medical Center Health Care Foundation generated $12.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.7%) each year. All expenses for the organization totaled $15.9m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (0.1%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE FUNDS FOR TORRANCE MEMORIAL MEDICAL CENTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALL EXPENSES ARE RELATED TO THE ACTIVITIES OF SOLICITATION OF FUNDS AND RECEIVING CONTRIBUTIONS IN SUPPORT OF TORRANCE MEMORIAL MEDICAL CENTER.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Heidi Hoffman MD Officer | OfficerTrustee | 1 | $0 |
Mark Lurie MD President | OfficerTrustee | 1 | $0 |
Nadine Bobit Secretary | OfficerTrustee | 1 | $0 |
Patrick Theodora Officer | OfficerTrustee | 1 | $0 |
Michael Zislis Officer | OfficerTrustee | 1 | $0 |
Joseph Hohm CPA JD Officer | OfficerTrustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Food Fetish Inc Catering | 6/29/20 | $340,996 |
Choura Events Inc Catering | 6/29/20 | $210,930 |
Paolucci Salling Martin Advertising | 6/29/20 | $144,860 |
Southwest Offset Printing Printing | 6/29/20 | $114,063 |
Food Fetish Inc Catering | 6/29/20 | $340,996 |
Choura Events Inc Catering | 6/29/20 | $210,930 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $874,077 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $10,614,563 |
Noncash contributions included in lines 1a–1f | $213,887 |
Total Revenue from Contributions, Gifts, Grants & Similar | $11,488,640 |
Total Program Service Revenue | $0 |
Investment income | $382,382 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $586,196 |
Net Income from Fundraising Events | -$39,435 |
Net Income from Gaming Activities | $39,435 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $12,457,218 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $15,326,060 |
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. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $291,130 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $34,496 |
Fees for services: Other | $0 |
Advertising and promotion | $154,502 |
Office expenses | $36,818 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $36,302 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | $28,925 |
Total functional expenses | $15,908,233 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,273,154 |
Savings and temporary cash investments | $10,144,889 |
Pledges and grants receivable | $76,578,019 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $3,000,000 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $18,799,923 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $10,784,640 |
Total assets | $120,580,625 |
Accounts payable and accrued expenses | $987,102 |
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 | $0 |
Other liabilities | $0 |
Total liabilities | $987,102 |
Net assets without donor restrictions | $14,956,764 |
Net assets with donor restrictions | $104,636,759 |
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 | $120,580,625 |
Over the last fiscal year, Torrance Memorial Medical Center Health Care Foundation has awarded $15,045,190 in support to 2 organizations.
Grant Recipient | Amount |
---|---|
Torrance, CA PURPOSE: SUPPORT TMMC | $15,006,325 |
Torrance, CA PURPOSE: SUPPORT THA SUPPORT TMMC | $38,865 |
Over the last fiscal year, we have identified 9 grants that Torrance Memorial Medical Center Health Care Foundation has recieved totaling $1,597,939.
Awarding Organization | Amount |
---|---|
Kenneth T And Eileen L Norris Foundation Long Beach, CA PURPOSE: INTENSIVIST PHYSICIANS PROVIDING CRITICAL CARE | $750,000 |
Tf Educational Foundation Rancho Palos Verdes, CA PURPOSE: GENERAL SUPPORT | $550,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HEALTH | $214,000 |
Jewish Community Fdn Of The Jewish Federation Council Of Greater La Los Angeles, CA PURPOSE: general support | $35,000 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: MEDICAL / PUBLIC SERVICES | $27,000 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $15,000 |
Beg. Balance | $3,161,454 |
Earnings | $241,335 |
Other Expense | $180,000 |
Ending Balance | $3,222,789 |
Organization Name | Assets | Revenue |
---|---|---|
Tmc Medical Network Tucson, AZ | $11,838,575 | $36,338,871 |
Huntington Medical Foundation Pasadena, CA | $17,195,320 | $36,939,841 |
The Fremont-Rideout Health Group Roseville, CA | $0 | $166,464 |
Community Health Systems Inc Moreno Valley, CA | $24,146,972 | $40,403,786 |
Familycare Inc Portland, OR | $129,470,681 | $28,007,500 |
Unihealth Foundation Los Angeles, CA | $305,493,581 | $27,122,356 |
Integrated Healthcare Association Oakland, CA | $19,146,201 | $24,103,136 |
Community Health Center Network Inc San Leandro, CA | $57,670,928 | $17,209,329 |
El Dorado County Community Health Placerville, CA | $15,743,416 | $20,588,313 |
Torrance Memorial Medical Center Health Care Foundation Torrance, CA | $120,580,625 | $12,457,218 |
St Francis Healthcare System Of Hawaii Honolulu, HI | $121,878,275 | $9,807,934 |
Valley Childrens Healthcare Madera, CA | $6,433,993 | $16,674,438 |