Overview
What is Texas Medical Center Central Heating And Cooling Services Corporation?
The Texas Medical Center Central Heating and Cooling Services Corporation, also known as Thermal Energy Corporation, is a nonprofit organization solely dedicated to operating a central heating and cooling services facility for the advantage of various governmental and not-for-profit institutions located within the Texas Medical Center. With a workforce of 100 employees, this corporation caters to an impressive roster of esteemed organizations, including CHI St. Luke's Health, Texas Children's Hospital, and The University of Texas System, among others. Each institution relies on the reliability and efficiency of Thermal Energy Corporation's services to maintain their essential operations.
Official website here: www.tecothermalenergy.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars
Texas Medical Center Central Heating And Cooling Services Corporation has received a "Needs Improvement" rating from Charity Navigator, with a score of 74%. While the organization excels in accountability and finance, scoring a perfect 100% in this area, its overall rating reflects concerns related to governance and transparency.
One of the notable strengths is the organization’s high program expense ratio of 89.05%, indicating that a significant portion of its funds is dedicated to its programs rather than administrative costs. Additionally, the nonprofit has robust policies in place for conflict of interest, whistleblower protection, and document retention. However, the board composition raises concerns, with only 22% of board members being independent, which is below the ideal standard for nonprofit governance.
Limitations include the absence of the tax form on the nonprofit's website, which detracts from transparency and public trust. The liabilities to assets ratio at 58.78% suggests that the organization may have a relatively high level of debt in comparison to its assets, a factor that could impact its financial stability moving forward. Overall, while there are strengths in financial management, significant governance and transparency issues need attention.
This AI summary has been generated from information found on Charity Navigator.
Is Texas Medical Center Central Heating And Cooling Services Corporation legitimate?
Texas Medical Center Central Heating And Cooling Services Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Texas Medical Center Central Heating And Cooling Services Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $2,603,101
Professional Fundraising Fees: $0
Other Salaries and Wages: $7,136,136
For more financial information, click here
Official website here: www.tecothermalenergy.com
What is the mission statement of Texas Medical Center Central Heating And Cooling Services Corporation?
The Texas Medical Center Central Heating and Cooling Services Corporation operates a central facility dedicated to providing heating and cooling services exclusively to governmental and not-for-profit organizations. By doing so, it contributes to the smooth functioning of various institutions in the health and research sector. Eligible organizations include renowned institutions such as CHI St. Luke's Health, Texas Children's Hospital, and the University of Texas System, among others. This collaboration ensures the uninterrupted delivery of essential services to the community, ultimately benefiting the individuals they serve.
Official website here: www.tecothermalenergy.com
Who is the CEO of Texas Medical Center Central Heating And Cooling Services Corporation?
Michael P Manoucheri is the Principal Officer of Texas Medical Center Central Heating And Cooling Services Corporation. The CEO's salary of Texas Medical Center Central Heating And Cooling Services Corporation is $250,265 and their total compensation is $311,570.
Official website here: www.tecothermalenergy.com
What is the revenue of Texas Medical Center Central Heating And Cooling Services Corporation?
Texas Medical Center Central Heating And Cooling Services Corporation's revenue in 2022 was $86,740,316.
Official website here: www.tecothermalenergy.com
Who are the executives of Texas Medical Center Central Heating And Cooling Services Corporation and what are their salaries?
The average compensation at Texas Medical Center Central Heating And Cooling Services Corporation during 2022 was $97,392. There are 100 employees and 9 volunteers at Texas Medical Center Central Heating And Cooling Services Corporation.
Here are 20 key members and their salaries (Texas Medical Center Central Heating And Cooling Services Corporation's CEO's salary is $250,265 and their total compensation is $311,570):
- Compensation: $1,460,233
- Related: $0
- Other: $102,050
- Compensation: $250,265
- Related: $0
- Other: $61,305
- Compensation: $261,444
- Related: $0
- Other: $23,651
- Compensation: $199,823
- Related: $0
- Other: $69,818
- Compensation: $198,647
- Related: $0
- Other: $67,232
- Compensation: $187,100
- Related: $0
- Other: $73,303
- Compensation: $191,795
- Related: $0
- Other: $66,610
- Compensation: $226,172
- Related: $0
- Other: $20,310
- Compensation: $172,790
- Related: $0
- Other: $55,302
- Compensation: $173,938
- Related: $0
- Other: $15,701
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.tecothermalenergy.com
Where can I find the form 990 for Texas Medical Center Central Heating And Cooling Services Corporation?
Texas Medical Center Central Heating And Cooling Services Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.tecothermalenergy.com
Learn more at the official website: www.tecothermalenergy.com
Mission Statement of Texas Medical Center Central Heating And Cooling Services Corporation
Texas Medical Center Central Heating and Cooling Services Corporation is a unique entity dedicated to serving the heating and cooling needs of governmental and not-for-profit organizations within the Texas Medical Center. The corporation operates a central facility that solely caters to these institutions, ensuring they maintain optimal temperature conditions for their essential operations.
The mission of Texas Medical Center Central Heating and Cooling Services Corporation can be described as a vital collaboration that prioritizes the climate control requirements of numerous esteemed organizations. These institutions include the CHI St. Luke's Health, Texas Children's Hospital, The University of Texas System, MD Anderson Cancer Center, University of Texas Health Science Center at Houston, Texas Woman's University, Memorial Hermann Hospital System, Texas A&M University System, Houston Academy of Medicine, City of Houston, University of Houston, USDA Children's Nutritional Research Center, Memorial Hermann/TIRR, Shriners Hospitals for Children, Houston Community College System, Baylor College of Medicine, Houston Methodist, Harris County, Harris County Hospital District, and Houston Independent School District. This extensive list underlines the importance and wide-ranging impact of the corporation's services.
By operating a central heating and cooling facility, Texas Medical Center Central Heating and Cooling Services Corporation efficiently manages energy usage and costs for its beneficiaries. Additionally, this collaborative effort enables the institutions to focus their resources on their primary objectives, including patient care, research, and education. The corporation's unwavering commitment to governmental and not-for-profit organizations in the Texas Medical Center is a significant factor in the success and growth of this vibrant community of healthcare and educational institutions.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Texas Medical Center Central Heating and Cooling Services Corporation plays a vital role in the operational efficiency of numerous critical healthcare and educational institutions within the Texas Medical Center. By providing centralized heating and cooling services, it supports a range of governmental and not-for-profit organizations that are crucial to public health and welfare.
The impact of this corporation is particularly significant in the context of hospitals and research facilities, including prominent entities such as Texas Children's Hospital, MD Anderson Cancer Center, and CHI St. Luke's Health. These institutions rely on consistent and reliable climate control to maintain optimal conditions for patient care, medical research, and education. Efficient heating and cooling are essential for the preservation of pharmaceuticals, the comfort of patients and staff, and the performance of sensitive medical equipment.
Moreover, by serving multiple organizations under one centralized facility, the corporation helps to reduce operational costs and environmental impacts, promoting sustainability within the Texas Medical Center. The cooperative model fosters collaboration among institutions, allowing them to share resources effectively and enhance the overall healthcare infrastructure in the region.
In essence, the Texas Medical Center Central Heating and Cooling Services Corporation not only supports the daily operations of vital healthcare services but also contributes to the larger mission of improving public health outcomes through reliable facility management.
This information is meant to be a general summary of Texas Medical Center Central Heating And Cooling Services Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$536,486
- Program Service Revenue: $87,245,316
- Gross Receipts: $108,996,123
Assets and Liabilities:
- Total Assets: $542,966,967
- Total Liabilities: $337,749,579
- Net Assets: $205,217,388
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Service Revenue
Revenue
$80,698,428
New Service Connection Fee Income
Revenue
$3,893,319
Power Sales Revenue
Revenue
$2,122,631
UT Research Park
Revenue
$530,938
Organization Details
Founding Year
2002
Phone
(713) 791-6700Principal Officer
Michael P Manoucheri
Main Address
1615 BRAESWOOD, HOUSTON, TX, 770303903
Website
www.tecothermalenergy.comNTEE Category
Code: E60 - Health
If you are a representative of Texas Medical Center Central Heating And Cooling Services Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.