Skip to content
Nonprofiteer
← TORRANCE MEMORIAL MEDICAL CENTER

Form 990 for tax year 2022

Filed by TORRANCE MEMORIAL MEDICAL CENTER.

Totals

Total revenue
$839,794,816
Total expenses
$790,447,555
Contributions and grants received
$25,532,002
Grants paid
$171,818
Program service revenue
$805,075,456
Investment income
$7,673,068
Other revenue
$1,514,290
Total assets, end of year
$1,286,888,076
Total liabilities, end of year
$524,111,085
Net assets or fund balances, end of year
$762,776,991
Program services expenses (Part IX)
$707,097,051
Management and general expenses
$81,626,863
Fundraising expenses
$1,723,641
Program service expenses (Part III)
$707,097,051

Program services were 89.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $16,412,450

  • 1e · Government grants (contributions)

    $39,700

  • 1f · All other contributions, gifts and grants

    $9,079,852

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: PATIENT SERVICES

    total $511,585,811 · related or exempt $511,103,212 · unrelated business $482,599

  • 2b · Program service revenue: MEDICARE REVENUE

    total $164,568,918 · related or exempt $164,568,918

  • 2c · Program service revenue: PREMIUM REVENUE

    total $98,255,863 · related or exempt $98,255,863

  • 2d · Program service revenue: MEDI-CAL REVENUE

    total $16,656,375 · related or exempt $16,656,375

  • 2e · Program service revenue: PERIODIC BENEFIT

    total $5,215,455 · related or exempt $5,215,455

  • 2f · All other program service revenue

    total $8,793,034 · related or exempt $7,228,064 · unrelated business $1,564,970 · excluded $0

  • 3 · Investment income

    total $8,403,215 · excluded $8,403,215

  • 6a · Gross rents

    real property $229,344

  • 6b · Less rental expenses

    real property $51,348

  • 6c · Rental income or loss

    real property $177,996 · personal property $0

  • 6d · Net rental income or loss

    total $177,996 · excluded $177,996

  • 7a · Gross sales of assets other than inventory

    securities $98,615,138

  • 7b · Less cost or other basis and sales expenses

    securities $99,345,285

  • 7c · Gain or loss

    securities -$730,147 · other assets $0

  • 7d · Net gain or loss

    total -$730,147 · excluded -$730,147

  • 11a · Other revenue: REBATES & REFUNDS

    total $472,274 · related or exempt $472,274

  • 11b · Other revenue: MANAGEMENT FEES

    total $864,020 · related or exempt $864,020

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $1,336,294

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $171,818 · program services $171,818

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $4,961,860 · program services $0 · management and general $4,961,860 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $41,431 · program services $0 · management and general $41,431 · fundraising $0

  • 7 · Other salaries and wages

    total $342,702,951 · program services $317,610,853 · management and general $23,940,192 · fundraising $1,151,906

  • 8 · Pension plan contributions

    total $17,815,639 · program services $16,273,623 · management and general $1,482,995 · fundraising $59,021

  • 9 · Other employee benefits

    total $80,536,738 · program services $73,565,956 · management and general $6,703,974 · fundraising $266,808

  • 10 · Payroll taxes

    total $26,551,502 · program services $24,253,361 · management and general $2,210,179 · fundraising $87,962

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $55,852 · program services $0 · management and general $55,852 · fundraising $0

  • 11c · Fees: accounting

    total $362,970 · program services $0 · management and general $362,970 · fundraising $0

  • 11d · Fees: lobbying

    total $46,781 · program services $46,781 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $552,411 · program services $552,411 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $39,857,876 · program services $34,003,397 · management and general $5,854,479 · fundraising $0

  • 12 · Advertising and promotion

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $45,084,453 · program services $35,165,873 · management and general $9,918,580 · fundraising $0

  • 14 · Information technology

    total $17,152,611 · program services $0 · management and general $17,152,611 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $6,250,192 · program services $5,075,840 · management and general $1,016,408 · fundraising $157,944

  • 17 · Travel

    total $139,594 · program services $120,197 · management and general $19,397 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $88,959 · program services $54,407 · management and general $34,552 · fundraising $0

  • 20 · Interest

    total $6,794,900 · program services $6,794,900 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $28,133,032 · program services $21,929,338 · management and general $6,203,694 · fundraising $0

  • 23 · Insurance

    total $5,446,484 · program services $5,446,484 · management and general $0 · fundraising $0

  • 24a · Other expenses: MEDICAL SUPPLIES

    total $123,731,442 · program services $123,731,442 · management and general $0 · fundraising $0

  • 24b · Other expenses: HOSPITAL FEE

    total $16,920,665 · program services $16,920,665 · management and general $0 · fundraising $0

  • 24c · Other expenses: PHYSICIAN FEES

    total $21,961,758 · program services $21,961,758 · management and general $0 · fundraising $0

  • 24d · Other expenses: REPAIRS AND MAINTENANCE

    total $3,466,954 · program services $2,901,661 · management and general $565,293 · fundraising $0

  • 24e · All other expenses

    total $1,618,682 · program services $516,286 · management and general $1,102,396 · fundraising $0

  • 26 · Joint costs (an allocation of the lines above)

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,535,287 · end of year $3,343,898

  • 2 · Savings and temporary cash investments

    beginning of year $3,407,150 · end of year $10,076,177

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $118,036,394 · end of year $114,263,531

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $13,024,551 · end of year $13,330,546

  • 9 · Prepaid expenses and deferred charges

    beginning of year $91,548,672 · end of year $133,406,499

  • 10a · Land, buildings and equipment: cost or other basis

    $741,376,865

  • 10b · Land, buildings and equipment: accumulated depreciation

    $169,113,617

  • 10c · Land, buildings and equipment, net

    beginning of year $587,564,365 · end of year $572,263,248

  • 11 · Investments: publicly traded securities

    beginning of year $250,603,566 · end of year $253,890,188

  • 12 · Investments: other securities

    beginning of year $38,222,297 · end of year $35,991,351

  • 13 · Investments: program-related

    beginning of year $116,785,467 · end of year $119,989,166

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $26,612,190 · end of year $30,333,472

  • 17 · Accounts payable and accrued expenses

    beginning of year $151,458,946 · end of year $117,884,393

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $408,513,108 · end of year $406,226,692

  • 27 · Net assets without donor restrictions

    beginning of year $569,431,661 · end of year $640,201,277

  • 28 · Net assets with donor restrictions

    beginning of year $118,936,224 · end of year $122,575,714

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

SEE SCHEDULE O.

  • SEE SCHEDULE O.

    Expenses $707,097,051 · Grants $171,818 · Revenue $806,411,750

As filed on the 2022 return.

Listed in Part VII

  • Craig Leach

    President/CEO

    Total calculated
    $1,560,269
    From this org
    $0
    From related orgs
    $1,315,993
    Other
    $244,276
    Hours/week
    20 + 22 related

    Schedule J breakdown matched by us

    Base
    $0 + $824,953 related
    Bonus
    $0 + $280,611 related
    Other
    $0 + $210,429 related
    Deferred
    $0 + $223,400 related
    Nontaxable benefits
    $0 + $20,876 related
    Filer's total
    $0 + $1,560,269 related

  • Eric Milefchik MD

    Vice Chairman

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Greg Geiger

    Chairman

    Total calculated
    $0
    Hours/week
    1 + 9 related

  • Sherry Kramer

    Secretary

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • William Collier Esq

    Treasurer

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • Amir Kaviani MD

    Board Member - Part Year

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Donna Duperron

    Board Member

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Joe Hohm

    Board Member

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Mary Harris

    Board Member - Part Year

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Rashaan Ali-Jones MD

    Board Member

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Richard Lucy

    Board Member - Part Year

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Susan Welch

    Board Member

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Tracy Underwood

    Board Member

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Zac Gray MD

    Board Member

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • William Larson

    Senior VP/Chief Finance Officer

    Total calculated
    $578,622
    From this org
    $0
    From related orgs
    $475,502
    Other
    $103,120
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $0 + $384,342 related
    Bonus
    $0 + $85,354 related
    Other
    $0 + $5,806 related
    Deferred
    $0 + $76,406 related
    Nontaxable benefits
    $0 + $26,714 related
    Filer's total
    $0 + $578,622 related

  • Derek Berz

    SR VP Chief Administrative Officer

    Total calculated
    $673,784
    From this org
    $0
    From related orgs
    $547,576
    Other
    $126,208
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $436,705 related
    Bonus
    $0 + $109,370 related
    Other
    $0 + $1,500 related
    Deferred
    $0 + $103,377 related
    Nontaxable benefits
    $0 + $22,831 related
    Filer's total
    $0 + $673,784 related

  • John McNamara MD

    Sr VP - Chief Medical Officer

    Total calculated
    $303,962
    From this org
    $0
    From related orgs
    $285,057
    Other
    $18,905
    Hours/week
    8.3 + 8.3 related

    Schedule J breakdown matched by us

    Base
    $0 + $243,936 related
    Bonus
    $0
    Other
    $0 + $41,121 related
    Deferred
    $0 + $18,905 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $303,962 related

  • Keith Hobbs

    Executive VP

    Total calculated
    $1,006,708
    From this org
    $0
    From related orgs
    $856,851
    Other
    $149,857
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $0 + $639,695 related
    Bonus
    $0 + $210,716 related
    Other
    $0 + $6,441 related
    Deferred
    $0 + $112,511 related
    Nontaxable benefits
    $0 + $37,345 related
    Filer's total
    $0 + $1,006,708 related

  • Mary Wright

    Sr VP Chief Nursing Services

    Total calculated
    $636,585
    From this org
    $0
    From related orgs
    $530,420
    Other
    $106,165
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $418,809 related
    Bonus
    $0 + $105,272 related
    Other
    $0 + $6,339 related
    Deferred
    $0 + $85,330 related
    Nontaxable benefits
    $0 + $20,834 related
    Filer's total
    $0 + $636,585 related

  • Shanna Hall

    VP Nursing Services

    Total calculated
    $486,013
    From this org
    $0
    From related orgs
    $453,660
    Other
    $32,353
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $377,130 related
    Bonus
    $0 + $74,555 related
    Other
    $0 + $1,976 related
    Deferred
    $0 + $12,200 related
    Nontaxable benefits
    $0 + $20,153 related
    Filer's total
    $0 + $486,013 related

  • Bernadette Reid

    Sr. VP Information Technology

    Total calculated
    $501,145
    From this org
    $0
    From related orgs
    $458,654
    Other
    $42,491
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $378,430 related
    Bonus
    $0 + $74,555 related
    Other
    $0 + $5,669 related
    Deferred
    $0 + $23,638 related
    Nontaxable benefits
    $0 + $18,853 related
    Filer's total
    $0 + $501,144 related

  • Heather Shay

    VP Accred & Quality Services

    Total calculated
    $505,892
    From this org
    $0
    From related orgs
    $458,528
    Other
    $47,364
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $380,280 related
    Bonus
    $0 + $74,555 related
    Other
    $0 + $3,693 related
    Deferred
    $0 + $32,788 related
    Nontaxable benefits
    $0 + $14,577 related
    Filer's total
    $0 + $505,892 related

  • Ingrid Cobb

    VP Human Resources

    Total calculated
    $435,339
    From this org
    $0
    From related orgs
    $386,187
    Other
    $49,152
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $320,302 related
    Bonus
    $0 + $64,203 related
    Other
    $0 + $1,682 related
    Deferred
    $0 + $12,200 related
    Nontaxable benefits
    $0 + $36,952 related
    Filer's total
    $0 + $435,339 related

  • Laura Schenasi

    Exec VP TMMC Foundation

    Total calculated
    $466,224
    From this org
    $0
    From related orgs
    $415,628
    Other
    $50,596
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $343,869 related
    Bonus
    $0 + $66,605 related
    Other
    $0 + $5,154 related
    Deferred
    $0 + $29,738 related
    Nontaxable benefits
    $0 + $20,858 related
    Filer's total
    $0 + $466,224 related

  • Linda Dobie

    VP Legal Affairs

    Total calculated
    $477,995
    From this org
    $0
    From related orgs
    $418,609
    Other
    $59,386
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $345,109 related
    Bonus
    $0 + $68,336 related
    Other
    $0 + $5,164 related
    Deferred
    $0 + $32,788 related
    Nontaxable benefits
    $0 + $26,599 related
    Filer's total
    $0 + $477,995 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
BECAUSE TORRANCE HEALTH ASSOCIATION AND TORRANCE MEMORIAL MEDICAL CENTER HAVE A COMMON BOARD, THE SAME PERSONS FOR BOTH ORGANIZATIONS USED THE METHOD CHECKED ON SCHEDULE J, PART I, LINE 3, TO DETERMINE THE COMPENSATION OF THE CEO.
Schedule J, Part I, Line 4b Supplemental Nonqualified Retirement Plan
THE TORRANCE HEALTH ASSOCIATION (THA) BOARD OF TRUSTEES PROVIDES A SERP TO PARTICIPANTS IDENTIFIED AS 'KEY EMPLOYEES'. THE SERP PROVIDES FOR AN ANNUAL ACCRUAL BASED UPON THE KEY EMPLOYEE'S EARNINGS TO BE ACCUMULATED IN A LIABILITY ACCOUNT EARNING INTEREST AT THE RATE SPECIFIED IN THE PLAN DOCUMENT. PARTIAL VESTING AND DISTRIBUTION OCCURS UPON A PARTICIPANT'S REACHING AGE 55 AND MAINTAINING EMPLOYMENT AS A KEY EMPLOYEE OF THA. DURING 2022, THE FOLLOWING INDIVIDUALS RECEIVED SERP PAYMENTS RELATED TO THEIR FULL VESTING IN THE PLAN: JOHN MCNAMARA - $41,121 CRAIG LEACH - $187,569 THE CURRENT YEAR DISTRIBUTION IS REFLECTED IN COLUMN B (III) AND F OF SCHEDULE J. THE AMOUNTS WERE REPORTED ON PRIOR YEARS FORM 990 AS DEFERRED COMPENSATION IN COLUMN C.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • TORRANCE MEMORIAL SURG CTR LLC

    Related · OUTPAT SURG S · CA · 56.59% owned · share of income $363,315 · share of assets $840,145

    Directly controlled by TMMC

  • 3565 DEL AMO ASSOCIATES

    N/A · RENT REAL ESTATE · CA

    Directly controlled by NA

  • CS-BH ASC HOLDINGS LLC

    N/A · HOLDING COMPANY · CA

    Directly controlled by NA

  • ENDOSCOPY CTR OF SANTA MONICA

    N/A · ENDOSCOPY · CA

    Directly controlled by NA

  • INTL SPINE THOPEDIC INST

    N/A · SPINE/ORTHOPEDIC · CA

    Directly controlled by NA

  • ISS ASC HOLDINGS LLC

    N/A · HEALTHCARE · CA

    Directly controlled by NA

  • SANTA MONICA IMAGING GROUP LLC

    N/A · IMAGING CENTER · CA

    Directly controlled by NA

  • 90210 ASC VENTURE LLC

    N/A · AMB.SURGERY CNTR · CA

    Directly controlled by NA

  • Huntington Ambulatory Surgery Center LLC

    N/A · Ambulatory Surgery Center · CA

    Directly controlled by NA

  • ABCENTRA LLC

    Related · RESEARCH AND DEVELOPMENT · DE

    Directly controlled by CEDARS-SINAI MEDICAL CENTER

  • TIA-CEDARS MANAGEMENT SERVICES ORGANIZATION LLC

    Related · INVESTMENT IN HEALTHCARE SERVICES · CA

    Directly controlled by CEDARS-SINAI MEDICAL CENTER

  • K HEALTH-CEDARS-MANAGEMENT SERVICES ORGANIZATION LLC

    Related · HEALTH MANAGEMENT SERVICES · CA

    Directly controlled by CSMC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • OPTIMATRIX HEALTH SOLUTIONS INC

    C Corporation · INACTIVE · CA · controlled entity

    Directly controlled by NA

  • OTOHARMOMICS CORPORATION

    C Corporation · INACTIVE · DE · controlled entity

    Directly controlled by NA

  • CONGRESS SERVICES CORPORATION

    C Corporation · MANAGEMENT SERVICES · CA · controlled entity

    Directly controlled by NA

  • GRAVIDAS DIAGNOSTICS INC

    C Corporation · MEDICAL EQUIPMENT AND SUPPLIES MANUFACTURING · DE · controlled entity

    Directly controlled by CEDARS SINAI INTELLECTUAL PROPERTY CO

  • CORONET VENTURES (SINGAPORE) PTE LTD

    C Corporation · HEALTHCARE AND BIOMEDICAL INNOVATION INVESTMENTS · SN · controlled entity

    Directly controlled by CSMC

  • THIRD STREET INSURANCE COMPANY (SAC) LTD

    C Corporation · CAPTIVE INSURANCE · BD · controlled entity

    Directly controlled by NA

  • TRIAN PARTNERS II LTD

    C Corporation · INVESTMENTS · CJ · controlled entity

    Directly controlled by CSMC

  • LIQUID LOAN OPPORTUNITIES FUND LP

    C Corporation · INVESTMENTS · CJ · controlled entity

    Directly controlled by CSMS

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202421359349313557

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.