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Nonprofiteer
← TORRANCE MEMORIAL MEDICAL CENTER HEALTH CARE FOUNDATION

Form 990 for tax year 2022

Filed by TORRANCE MEMORIAL MEDICAL CENTER HEALTH CARE FOUNDATION.

Totals

Total revenue
$19,602,706
Total expenses
$17,304,374
Contributions and grants received
$18,812,574
Grants paid
$16,400,000
Program service revenue
$0
Investment income
$790,132
Other revenue
$0
Total assets, end of year
$120,986,685
Total liabilities, end of year
$997,519
Net assets or fund balances, end of year
$119,989,166
Program services expenses (Part IX)
$16,400,000
Management and general expenses
$266,263
Fundraising expenses
$638,111
Program service expenses (Part III)
$16,400,000

Program services were 94.8% 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.

  • 1c · Fundraising events

    $897,328

  • 1f · All other contributions, gifts and grants

    $17,915,246

  • 1g · Noncash contributions included above

    $272,681

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $809,433 · excluded $809,433

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $14,915,149

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

    securities $14,934,450

  • 7c · Gain or loss

    securities -$19,301 · other assets $0

  • 7d · Net gain or loss

    total -$19,301 · excluded -$19,301

  • 8a · Fundraising events: gross income

    $1,028,627

  • 8a · Fundraising events: contributions included on line 1c

    $897,328

  • 8b · Fundraising events: direct expenses

    $1,066,147

  • 8c · Net income from fundraising events

    total -$37,520 · excluded -$37,520

  • 9a · Gaming: gross income

    $40,695

  • 9b · Gaming: direct expenses

    $3,175

  • 9c · Net income from gaming

    total $37,520 · excluded $37,520

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $16,400,000 · program services $16,400,000

  • 11a · Fees: management

    total $372,269 · fundraising $372,269

  • 11f · Fees: investment management

    total $48,180 · management and general $48,180

  • 11g · Fees: other

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

  • 12 · Advertising and promotion

    total $209,138 · management and general $31,371 · fundraising $177,767

  • 13 · Office expenses

    total $73,013 · management and general $11,459 · fundraising $61,554

  • 19 · Conferences, conventions and meetings

    total $175,253 · management and general $175,253

  • 24a · Other expenses: SALES TAX EXPENSE

    total $26,521 · fundraising $26,521

  • 24e · All other expenses

    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 $1,230,491 · end of year $3,324,955

  • 2 · Savings and temporary cash investments

    beginning of year $8,227,385 · end of year $8,534,537

  • 3 · Pledges and grants receivable

    beginning of year $76,393,991 · end of year $75,442,049

  • 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 $3,000,000 · end of year $3,000,000

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $18,446,023 · end of year $20,372,068

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $10,479,978 · end of year $10,313,076

  • 17 · Accounts payable and accrued expenses

    beginning of year $992,402 · end of year $997,519

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $11,571,156 · end of year $13,025,367

  • 28 · Net assets with donor restrictions

    beginning of year $105,214,310 · end of year $106,963,799

Mission and programs · 2022

Mission

TO RAISE FUNDS FOR TORRANCE MEMORIAL MEDICAL CENTER.

  • ALL EXPENSES ARE RELATED TO THE ACTIVITIES OF SOLICITATION OF FUNDS AND RECEIVING CONTRIBUTIONS IN SUPPORT OF TORRANCE MEMORIAL MEDICAL CENTER.

    Expenses $16,400,000 · Grants $16,400,000

As filed on the 2022 return.

Listed in Part VII

  • Greg Geiger

    Treasurer

    Total calculated
    $0
    Hours/week
    1 + 9 related

  • Heidi Hoffman MD

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Joseph Hohm CPA JD

    Officer

    Total calculated
    $0
    Hours/week
    1

  • Mark Lurie MD

    President

    Total calculated
    $66,000
    From this org
    $0
    From related orgs
    $66,000
    Other
    $0
    Hours/week
    1

  • Michael Zislis

    Officer

    Total calculated
    $0
    Hours/week
    1

  • Patrick Theodora

    Officer

    Total calculated
    $0
    Hours/week
    1

  • Phil Pavesi

    Vice President

    Total calculated
    $0
    Hours/week
    1

  • Alan Goldstein

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ann Zimmerman

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Christy Abraham

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Connie Lai ESQ

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Eric Nakkim MD

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • George Graham

    Board Member (Part Year)

    Total calculated
    $0
    Hours/week
    0

  • Gina Kirkpatrick

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Harv Daniels

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Janice Tecimer

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • John G Baker

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Laurie McCarthy

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Michael Rouse

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Nadine Bobit

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Patricia Sacks MD

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Paul G Giuliano

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Richard E Lucy

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Richard Rounsavelle DDS

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Rick Higgins

    Board Member (Part Year)

    Total calculated
    $0
    Hours/week
    1

  • Russell Varon

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Sam Sheth

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Sam Sim

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Song Cho Klein

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Steven Spierer

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Tom O'Hern

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • W David Mckinnie III

    Board Member

    Total calculated
    $0
    Hours/week
    1

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.

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.

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

  • CHARITABLE REMAINDER TRUST (23)

    Trust · RT · CA

    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

  • CONGRESS SERVICES CORPORATION

    C Corporation · MANAGEMENT SERVICES · CA · controlled entity

    Directly controlled by NA

  • 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 OPPOORTUNITIES FUND LP

    C Corporation · INVESTMENTS · CJ · controlled entity

    Directly controlled by CSMC

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2024
IRS schema version
2022v5.0
Source object
202401359349311790

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