Hrh Management Corporation
- Assets
- $22.7m
- Revenue
- $4.0m
- Investments
- $93.3k
- Employees
- 0
- Location
- Huntingdon Valley, PA
- Founding
- 03/1946
- Data as of
- 06/2022
- 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 06/2022, Hrh Management Corporation generated $4.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 22.7% each year .
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
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 |
Jack Dempster Board Member | Trustee | 0.5 | $0 |
Charles Kahn Jr Chairman - Left Sep 2021 | OfficerTrustee | 0.5 | $0 |
Lawrence Stuardi Board Member | Trustee | 0.01 | $0 |
Donald F Friel Asst Treasurer | 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 | $3,573,359 |
| Investment income | $223,800 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $170,515 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,967,674 |
| 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 | $364,014 |
| Advertising and promotion | $0 |
| Office expenses | $4,433 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $767,275 |
| Travel | $6,102 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $69,501 |
| Payments to affiliates | $165,000 |
| Depreciation, depletion, and amortization | $856,554 |
| Insurance | $50,253 |
| All other expenses | $75,895 |
| Total functional expenses | $2,807,672 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $650,514 |
| Savings and temporary cash investments | $5,279,630 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $784,200 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $64,517 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $80,312 |
| Net Land, buildings, and equipment | $15,776,297 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $93,319 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $22,728,789 |
| Accounts payable and accrued expenses | $463,476 |
| Grants payable | $0 |
| Deferred revenue | $114,597 |
| 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 | $2,002,100 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $188,838 |
| Total liabilities | $2,769,011 |
| Net assets without donor restrictions | $19,959,778 |
| 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 | $22,728,789 |