Torrance Memorial Medical Center Health Care Foundation

Organization Overview

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.

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.


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Board, Officers & Key Employees

Name (title)Compensation
Heidi Hoffman MD
Officer
$0
Mark Lurie MD
President
$0
Nadine Bobit
Secretary
$0
Patrick Theodora
Officer
$0
Michael Zislis
Officer
$0
Joseph Hohm CPA JD
Officer
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Food Fetish Inc
Catering
$340,996
Choura Events Inc
Catering
$210,930
Paolucci Salling Martin
Advertising
$144,860
Southwest Offset Printing
Printing
$114,063
Food Fetish Inc
Catering
$340,996
Choura Events Inc
Catering
$210,930
View All Vendors

Financial Statements

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

Grants Awarded

Over the last fiscal year, Torrance Memorial Medical Center Health Care Foundation has awarded $15,045,190 in support to 2 organizations.

Grant RecipientAmount

TORRANCE MEMORIAL MEDICAL CENTER

Org PageRecipient Profile

Torrance, CA

PURPOSE: SUPPORT TMMC

$15,006,325

TORRANCE HEALTH ASSOCIATION

Org PageRecipient Profile

Torrance, CA

PURPOSE: SUPPORT THA SUPPORT TMMC

$38,865
View Grant Profile

Grants Recieved

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 OrganizationAmount
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
$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
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$3,161,454
Earnings$241,335
Other Expense$180,000
Ending Balance$3,222,789

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