Torrance Health Association Inc
- Assets
- $170.2m
- Revenue
- $225.0m
- Investments
- $3.2m
- Employees
- 840
- Location
- Torrance, CA
- Founding
- 05/1985
- Data as of
- 06/2021
- EIN
- 33-0073515
Organization Overview
Torrance Health Association Inc is located in Torrance, CA. The organization was established in 1985. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 06/2021, Torrance Health Association Inc employed 840 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Torrance Health Association Inc 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 Health Association Inc generated $225.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.5% each year. All expenses for the organization totaled $246.5m during the year ending 06/2021. While expenses have increased by 8.7% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
SEE SCHEDULE O
SEE SCHEDULE O
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Craig Leach President/ceo & Asst Treasurer | OfficerTrustee | 20 | $2,365,686 |
John Mcnamara Cmo | Officer | 20 | $588,941 |
Chris Rogers Sr Vp/exec Officer Of Tmipa | Officer | 40 | $458,394 |
Kelley Prince Cmo Tmipa | Officer | 40 | $374,206 |
Heidi Assigal VP Business & Operations | Officer | 40 | $340,583 |
William Larson CFO | Officer | 20 | $317,362 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Torrance Anesthesia Medical Group Medical | 6/29/21 | $2,895,034 |
Skyline Urology Medical | 6/29/21 | $2,255,740 |
Association Of South Bay Surgeons Medical | 6/29/21 | $2,096,535 |
South Bay Gastroenterology Med Medical | 6/29/21 | $1,712,652 |
Shahinaz Soliman Medical | 6/29/21 | $1,585,081 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,123,209 |
| 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 | $2,123,209 |
| Total Program Service Revenue | $218,630,111 |
| Investment income | $12,790 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,275,312 |
| Net Gain/Loss on Asset Sales | -$15 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $225,041,407 |
| 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. | $1,635,580 |
| Compensation of current officers, directors, key employees. | $1,635,580 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $65,015,884 |
| Pension plan accruals and contributions | $1,862,634 |
| Other employee benefits | $6,032,075 |
| Payroll taxes | $4,133,426 |
| Fees for services: Management | $125,257 |
| Fees for services: Legal | $77,503 |
| Fees for services: Accounting | $11,890 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $111,328,858 |
| Advertising and promotion | $385,615 |
| Office expenses | $37,031,050 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,738,359 |
| Travel | $9,134 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $90,460 |
| Interest | $2,570,984 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,802,050 |
| Insurance | $624,609 |
| All other expenses | $0 |
| Total functional expenses | $246,504,158 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,534,133 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,819,135 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $446,514 |
| Prepaid expenses and deferred charges | $962,148 |
| Net Land, buildings, and equipment | $95,693,215 |
| Investments—publicly traded securities | $8,987,062 |
| Investments—other securities | $3,239,619 |
| Investments—program-related | $71,942 |
| Intangible assets | $980,776 |
| Other assets | $36,418,717 |
| Total assets | $170,153,261 |
| Accounts payable and accrued expenses | $27,264,286 |
| 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 | $503,021 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $123,049,922 |
| Total liabilities | $150,817,229 |
| Net assets without donor restrictions | $19,336,032 |
| 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 | $170,153,261 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Torrance Health Association Inc has recieved totaling $38,865.
| Awarding Organization | Amount |
|---|---|
Torrance Memorial Medical Center Health Care Foundation Torrance, CA PURPOSE: SUPPORT THA SUPPORT TMMC | $38,865 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cedars-Sinai Medical Care Foundation Los Angeles, CA | $564,609,326 | $560,931,684 |
Torrance Health Association Inc Torrance, CA | $170,153,261 | $225,041,407 |
Loma Linda University Health Care Loma Linda, CA | $123,842,223 | $208,247,107 |
Kaiser Hospital Asset Management Inc Oakland, CA | $974,819,494 | $187,480,627 |
Health Care Employees Dental Trust Dublin, CA | $44,289,961 | $174,833,116 |
Lucile Packard Foundation For Childrens Health Palo Alto, CA | $374,660,556 | $175,670,547 |
Teamsters Managed Health Care Trust Pleasanton, CA | $34,990,586 | $90,291,232 |
High Desert & Inland Employee- Employer Trust Apple Valley, CA | $8,134,571 | $74,305,229 |
Intel Retiree Medical Plan Tr Santa Clara, CA | $691,186,910 | $97,588,377 |
Saint Agnes Medical Foundation Fresno, CA | $14,742,009 | $46,818,162 |
Amalgamated Transit Union-Div 1277 Scrtd Health & Welfare Fund Los Angeles, CA | $65,023,279 | $80,787,185 |
Kaiser Health Plan Asset Management Inc Oakland, CA | $308,869,561 | $61,696,347 |