Hrh Management Corporation
- Assets
- $24.5m
- Revenue
- $4.0m
- Investments
- $93.3k
- Employees
- 0
- Location
- Huntingdon Valley, PA
- Founding
- 03/1946
- Data as of
- 06/2021
- EIN
- 23-2127559
Organization Overview
Hrh Management Corporation is located in Huntingdon Valley, PA. The organization was established in 1946. According to its NTEE Classification (X22) the organization is classified as: Roman Catholic, under the broad grouping of Religion-Related and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Hrh Management 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 06/2021, Hrh Management Corporation generated $4.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 27.1% each year .
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE HOLY REDEEMER HEALTH SYSTEM'S OVERALL QUALITY OF CARE BY LEASING MEDICAL OFFICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
FACILITIES - PROVIDE AND MAINTAIN REAL ESTATE FOR MEDICAL PROVIDERS WHO ARE ON STAFF AT HOLY REDEEMER HEALTH SYSTEM'S (HRHS) FACILITIES. HRHS IS A 501(C)(3) PUBLIC CHARITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael B Laign Board Member, President/ceo | OfficerTrustee | 0.5 | $0 |
Donald W Fox Board Member, VP | OfficerTrustee | 0.5 | $0 |
Charles Kahn Jr Chairman | OfficerTrustee | 0.5 | $0 |
Michael Keen Treasurer/cfo | Officer | 0.01 | $0 |
Donald F Friel Asst Treasurer | Officer | 0.01 | $0 |
Dolores Torsitano Corporate Secretary - Left Jun 2021 | Officer | 0.01 | $0 |
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 | $3,498,784 |
| Investment income | $237,717 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $259,587 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,996,088 |
| 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. | $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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $336,650 |
| Advertising and promotion | $0 |
| Office expenses | $4,723 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $775,896 |
| Travel | $5,592 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $76,424 |
| Payments to affiliates | $157,962 |
| Depreciation, depletion, and amortization | $882,363 |
| Insurance | $44,772 |
| All other expenses | $75,819 |
| Total functional expenses | $2,815,184 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,545,526 |
| Savings and temporary cash investments | $7,215,845 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $185,377 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $295,133 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $68,337 |
| Net Land, buildings, and equipment | $15,128,684 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $93,319 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $24,532,221 |
| Accounts payable and accrued expenses | $486,206 |
| Grants payable | $0 |
| Deferred revenue | $138,798 |
| 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 | $2,505,382 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,752,661 |
| Total liabilities | $4,883,047 |
| Net assets without donor restrictions | $19,649,174 |
| 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 | $24,532,221 |
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|---|---|---|
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Dynamic Catholic Institute Cincinnati, OH | $46,011,933 | $24,743,201 |
Raskob Foundation For Catholic Activities Incorporated Wilmington, DE | $222,202,600 | $26,821,611 |
Community Association Of Progressive Dominicans Inc New York, NY | $3,345,960 | $6,118,311 |
Murray Hill Place Inc New York, NY | $43,211,368 | $5,022,335 |
Cise Cincinnati, OH | $26,854,331 | $7,324,023 |
Catholic Migration Services Inc Brooklyn, NY | $5,700,505 | $6,076,447 |
Villa St Joseph Of Baden Inc Baden, PA | $11,517,142 | $339,761 |
Holy Love Ministries North Ridgeville, OH | $21,288,130 | $2,402,696 |
Riverside Study Center Inc New York, NY | $14,243,524 | $2,424,338 |
Hrh Management Corporation Huntingdon Valley, PA | $24,532,221 | $3,996,088 |
Blue Army Of Our Lady Of Fatima Usa Inc Washington, NJ | $5,683,960 | $2,629,820 |