Torrance Memorial Medical Center

Organization Overview

Torrance Memorial Medical Center is located in Torrance, CA. The organization was established in 1950. According to its NTEE Classification (E22) the organization is classified as: General Hospitals, under the broad grouping of Health Care and related organizations. As of 06/2021, Torrance Memorial Medical Center employed 3,997 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Torrance Memorial Medical Center 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 generated $749.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $712.1m during the year ending 06/2021. While expenses have increased by 3.4% 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.

Since 2016, Torrance Memorial Medical Center has awarded 23 individual grants totaling $466,497. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

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


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Board, Officers & Key Employees

Name (title)Compensation
Craig Leach
President/ceo/assist Treasurer
$0
Vinh Cam MD
Vice Chairman (part Year)
$0
William Collier ESQ
Treasurer
$0
Greg Geiger
Chairman
$0
Sherry Kramer
Secretary
$0
Eric Milefchik MD
Vice Chairman
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Cerner Corporation
It Services
$13,385,206
Sodexo Inc And Affiliates
Food Services
$3,753,848
Mayo Collaborative Services
Med Purchased Svcs
$2,653,864
Siemens Medical Solutions
Med Purchased Svcs
$2,411,711
Philips Medical Systems
Med Purchased Svcs
$1,654,582
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$15,326,060
Government grants $5,319,036
All other contributions, gifts, grants, and similar amounts not included above$11,948,160
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$32,593,256
Total Program Service Revenue$701,371,615
Investment income $5,262,799
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $66,224
Net Gain/Loss on Asset Sales $6,822,783
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $749,888,639

Grants Awarded

Over the last fiscal year, Torrance Memorial Medical Center has awarded $37,000 in support to 2 organizations.

Grant RecipientAmount

HARBOR INTERFAITH SERVICE

Org PageRecipient Profile

San Pedro, CA

PURPOSE: EMPOWER HOMELESS PROGRAM

$22,000

Torrance, CA

|

$15,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 4 grants that Torrance Memorial Medical Center has recieved totaling $75,147.

Awarding OrganizationAmount
Francis P Torino Foundation

Torrance, CA

PURPOSE: MEDICAL/HUMANITARIAN

$67,000
American Heart Association Inc

Dallas, TX

PURPOSE: CHOLESTEROL INITIATIVE

$7,000
$900
Amazonsmile Foundation

Seattle, WA

PURPOSE: GENERAL SUPPORT

$247
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$9,176,142
Earnings$1,596,711
Other Expense$360,000
Ending Balance$10,412,853

Peer Organizations

Organization NameAssets
Asante
Medford, OR
$1,067,000,527
Grossmont Hospital Corporation
San Diego, CA
$963,761,157
Renown Regional Medical Center
Reno, NV
$918,236,960
Eisenhower Medical Center
Rancho Mirage, CA
$887,259,076
Santa Barbara Cottage Hospital
Santa Barbara, CA
$820,638,690
Pasadena Hospital Association Ltd
Pasadena, CA
$740,897,251
Enloe Medical Center
Chico, CA
$814,037,880
Torrance Memorial Medical Center
Torrance, CA
$749,888,639
Pomona Valley Hospital Medical Center
Pomona, CA
$699,695,626
Tucson Medical Center
Tucson, AZ
$712,683,954
Sky Lakes Medical Center Inc
Klamath Falls, OR
$667,970,427
Pih Health Hospital Whittier
Whittier, CA
$696,894,160

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