Torrance Memorial Medical Center

EIN: 951644042 501(c)(3) Health Care

TORRANCE, CA

Total Revenue
$839,794,816
Total Expenses
$790,447,555
Total Assets
$1,286,888,076
Net Assets
$762,776,991
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1925
Legal Domicile
CA
Phone
3103259110
Tax Period
2022-07-01 to 2023-06-30

Torrance Memorial Medical Center, founded in 1925, is a major nonprofit in the Health Care sector that reported $839.8M in total revenue in fiscal year 2022. Expenses of $790.4M left a modest 6% surplus.

Mission

TORRANCE MEMORIAL MEDICAL CENTER IS A LOCALLY GOVERNED COMMUNITY, NON-PROFIT MEDICAL CENTER WHOSE PURPOSE IS TO PROVIDE QUALITY HEALTHCARE SERVICES, PREDOMINANTLY TO THE RESIDENTS OF THE SOUTH BAY/PENINSULA COMMUNITIES UNDER THE GOVERNANCE OF A COMMUNITY-BASED BOARD OF TRUSTEES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $25,532,002
Program Service Revenue $805,075,456
Investment Income $7,673,068
Other Revenue $1,514,290
TOTAL REVENUE $839,794,816

Expense Breakdown

Grants Paid $171,818
Salaries & Benefits $472,610,121
Fundraising Expenses $1,723,641
Program Expenses $707,097,051
Other Expenses $317,665,616
TOTAL EXPENSES $790,447,555

Year-over-Year Comparison

2022 2021 Change
Revenue $839,794,816 $838,380,177 +0.0%
Expenses $790,447,555 $769,359,648 +0.0%
Net Income $49,347,261 $69,020,529 -0.3%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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Governance

Voting Members
11
Independent Members
9
Employees
4426
Volunteers
811

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✓ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$2,138,891
Total Directors
14
$1,560,269
Key Employees
5
$3,107,052
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A President/CEO 20.0
Officer Director
$0 $244,276 $1,560,269
N/A Vice Chairman 1.0
Officer Director
$0 $0 $0
N/A Chairman 1.0
Officer Director
$0 $0 $0
N/A Secretary 1.0
Officer Director
$0 $0 $0
N/A Treasurer 1.0
Officer Director
$0 $0 $0
N/A Board Member - Part Year 1.0
Director
$0 $0 $0
N/A Board Member 1.0
Director
$0 $0 $0
N/A Board Member 1.0
Director
$0 $0 $0
N/A Board Member - Part Year 1.0
Director
$0 $0 $0
N/A Board Member 1.0
Director
$0 $0 $0
N/A Board Member - Part Year 1.0
Director
$0 $0 $0
N/A Board Member 1.0
Director
$0 $0 $0
N/A Board Member 1.0
Director
$0 $0 $0
N/A Board Member 1.0
Director
$0 $0 $0
N/A Senior VP/Chief Finance Officer 20.0
Officer
$0 $103,120 $578,622
N/A SR VP Chief Administrative Officer 40.0
Key Emp
$0 $126,208 $673,784
N/A Sr VP - Chief Medical Officer 8.3
Key Emp
$0 $18,905 $303,962
N/A Executive VP 20.0
Key Emp
$0 $149,857 $1,006,708
N/A Sr VP Chief Nursing Services 40.0
Key Emp
$0 $106,165 $636,585
N/A VP Nursing Services 40.0
Key Emp
$0 $32,353 $486,013
N/A Sr. VP Information Technology 40.0
Highest
$0 $42,491 $501,145
N/A VP Accred & Quality Services 40.0
Highest
$0 $47,364 $505,892
N/A VP Human Resources 40.0
Highest
$0 $49,152 $435,339
N/A Exec VP TMMC Foundation 40.0
Highest
$0 $50,596 $466,224
N/A VP Legal Affairs 40.0
Highest
$0 $59,386 $477,995
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 No data No data No data No data
2023 $839,794,816 $790,447,555 $1,286,888,076 $49,347,261
2022 $838,380,177 $769,359,648 $1,248,339,939 $69,020,529
2021 $749,888,639 $712,103,988 $1,308,904,790 $37,784,651
2020 $710,062,691 $688,200,647 $1,300,118,916 $21,862,044
2019 $698,848,772 $663,349,296 $1,223,593,966 $35,499,476
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