Collis P & Howard Huntington Memorial Hospital Trust
- Assets
- $334.7m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Pasadena, CA
- Founding
- 03/1937
- Data as of
- 06/2023
- EIN
- 95-6027688
Organization Overview
Collis P & Howard Huntington Memorial Hospital Trust is located in Pasadena, CA. The organization was established in 1937. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, 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. Collis P & Howard Huntington Memorial Hospital Trust 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 06/2023, Collis P & Howard Huntington Memorial Hospital Trust generated $3.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (18.7%) each year. All expenses for the organization totaled $13.6m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ESTABLISHED IN 1932 UNDER THE TERMS OF THE WILL OF HENRY E. HUNTINGTON, THE TRUST'S FUND WAS ALLOCATED TO THE PROPERTY ACQUISITION, MAINTENANCE AND OPERATION OF PASADENA HOSP ASSN. LTD (DBA HUNTINGTON HEALTH).
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COLLIS P. AND HOWARD HUNTINGTON MEMORIAL TRUST (TRUST) IS A CHARITABLE TRUST REGISTERED WITH THE REGISTRY OF CHARITABLE TRUSTS, PURSUANT TO THE SUPERVISION OF TRUSTEES AND FUNDRAISERS FOR CHARITABLE PURPOSES ACT AND IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES. THE TRUST WAS ESTABLISHED IN 1932 UNDER THE TERMS OF THE WILL OF MR. HENRY HUNTINGTON. THE BEQUEST WAS INVESTED AND LOANED BY THE TRUSTEES FOR THE PURPOSES OF MAKING THE BEST AVAILABLE PROFIT THEREON SO AS TO YIELD AN INCOME FOR THE PERPETUAL MAINTENANCE OF PASADENA HOSPITAL ASSOCIATION (PHA) DBA AS HUNTINGTON HOSPITAL. COLLIS P. AND HOWARD HUNTINGTON HOSPITAL TRUST (TRUST) CONTRIBUTED $5,500,406 TO PASADENA HOSPITAL ASSOCIATION ("DBA HUNTINGTON HOSPITAL") SOLELY TO FUND THE GENERAL MEDICAL EDUCATION PROGRAM AT HUNTINGTON HOSPITAL KNOWN AS "GME DISTRIBUTIONS". IN ADDITION, TRUST CONTRIBUTED $7,382,755 TO HUNTINGTON HOSPITAL FOR "PROJECT DISTRIBUTIONS."
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Trustee And Treasurer | OfficerTrustee | 1 | $0 |
Name Not Listed Trustee And Secretary | OfficerTrustee | 1 | $0 |
Name Not Listed Trustee And Chair | OfficerTrustee | 1 | $0 |
Name Not Listed Trustee | Trustee | 1 | $0 |
Name Not Listed Trustee | Trustee | 1 | $0 |
Name Not Listed Agent/top Management Official | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mti Builders Inc General Contractor | 6/29/23 | $387,271 |
Direct Flooring Source Inc Expert Construction Svcs | 6/29/23 | $468,600 |
Image Property Services Llc Janitorial Svcs | 6/29/23 | $288,117 |
Cbre Inc Property Mgmt Svcs | 6/29/23 | $166,414 |
Benick Inc General Contractor | 6/29/23 | $246,805 |
Financial Statements
| 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 | $0 |
| Investment income | $5,189,243 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,696,223 |
| Net Gain/Loss on Asset Sales | -$6,514,072 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,371,394 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,883,161 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $144,946 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $594,299 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $13,622,406 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,173,717 |
| Savings and temporary cash investments | $738,786 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $335,074 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $647,514 |
| Net Land, buildings, and equipment | $50,541,446 |
| Investments—publicly traded securities | $281,270,850 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $334,707,387 |
| Accounts payable and accrued expenses | $1,061,519 |
| Grants payable | $0 |
| Deferred revenue | $1,616,228 |
| 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 | $1,312,350 |
| Total liabilities | $3,990,097 |
| Net assets without donor restrictions | $328,248,123 |
| Net assets with donor restrictions | $2,469,167 |
| 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 | $334,707,387 |
Grants Awarded
Over the last fiscal year, Collis P & Howard Huntington Memorial Hospital Trust has awarded $4,122,513 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
PASADENA HOSPITAL ASSOCIATION (PHA) PURPOSE: The purpose of providing grants to PHA is to support the Hospital's related medical expenses and fees. Expenses such as payroll for medical staffs in dispensary area, graduate and post graduate medical training fees, surgery residency and internal medicine. | $3,885,663 |
HUNTINGTON MEDICAL RESEARCH INST (HMRI) PURPOSE: The purpose of providing grants as rent service to HMRI is to support the medical research in immunotherapy, neutral stimulation, prostate, other cancers, cardiac and vascular physiology, stroke, and magnetic resonance spectroscopy. | $236,850 |