Overview
What is Torrance Memorial Medical Center Health Care Foundation?
Torrance Memorial Medical Center Health Care Foundation is a nonprofit organization located at 3330 Lomita Blvd, Torrance, CA, 90505. The primary mission of this foundation is to solicit and receive contributions to support Torrance Memorial Medical Center. All expenses incurred by the foundation are related to this fundraising activity. The foundation's primary role is to secure financial resources for the medical center.
Official website here: www.torrancememorialfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92% (Four-Star out of Four Stars)
Torrance Memorial Medical Center Health Care Foundation has received an impressive Four-Star rating from Charity Navigator, reflecting a robust commitment to accountability and financial health. The rating is primarily based on strong performance in accountability and finance metrics, showcasing the foundation's adherence to best practices in governance, with 96% of its board members being independent.
The organization excels in financial management, demonstrating an outstanding program expense ratio of 95.15% and a fundraising efficiency ratio that shows minimal fundraising costs. These figures indicate that the majority of funds raised are directed towards its programs, exemplifying effective resource allocation and a focus on mission-driven outcomes.
However, there are notable areas for improvement, specifically the absence of a whistleblower policy and a document retention and destruction policy, which were rated poorly. Addressing these gaps could further enhance the foundation's governance practices and overall transparency. Despite these limitations, the foundation's financial stability and operational integrity present a strong case for support from the community.
This AI summary has been generated from information found on Charity Navigator.
Is Torrance Memorial Medical Center Health Care Foundation legitimate?
Torrance Memorial Medical Center Health Care Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Torrance Memorial Medical Center Health Care Foundation 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.
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For more financial information, click here
Official website here: www.torrancememorialfoundation.org
What is the mission statement of Torrance Memorial Medical Center Health Care Foundation?
The Torrance Memorial Medical Center Health Care Foundation is dedicated to raising funds for the medical center. Its primary activity involves soliciting donations and receiving contributions to support the medical center's initiatives. The foundation's mission is geared towards securing financial resources to enhance the capabilities of the medical center in delivering quality healthcare services. By achieving its fundraising goals, the foundation plays a crucial role in ensuring that the medical center has the necessary resources to respond to the healthcare needs of the community. The foundation's efforts contribute to the overall improvement of healthcare delivery and patient care at the medical center.
Official website here: www.torrancememorialfoundation.org
Who is the CEO of Torrance Memorial Medical Center Health Care Foundation?
Unavailable
Official website here: www.torrancememorialfoundation.org
What is the revenue of Torrance Memorial Medical Center Health Care Foundation?
Torrance Memorial Medical Center Health Care Foundation's revenue in 2022 was $17,969,674.
Official website here: www.torrancememorialfoundation.org
Who are the executives of Torrance Memorial Medical Center Health Care Foundation and what are their salaries?
There 193 volunteers at Torrance Memorial Medical Center Health Care Foundation.
Here are 32 key members and their salaries:
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Official website here: www.torrancememorialfoundation.org
Where can I find the form 990 for Torrance Memorial Medical Center Health Care Foundation?
Torrance Memorial Medical Center Health Care Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.torrancememorialfoundation.org
Learn more at the official website: www.torrancememorialfoundation.org
Mission Statement of Torrance Memorial Medical Center Health Care Foundation
The Torrance Memorial Medical Center Health Care Foundation is a dedicated organization that plays a pivotal role in raising funds for Torrance Memorial Medical Center. With a clear-cut mission, this foundation channels its efforts towards securing financial support for the medical center. All activities undertaken by the foundation are centered around the solicitation of funds and the reception of contributions. In essence, the Torrance Memorial Medical Center Health Care Foundation acts as a philanthropic bridge, connecting generous donors with the ongoing needs of the respected medical center.
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Impact
October, 2024
Torrance Memorial Medical Center Health Care Foundation plays a crucial role in supporting Torrance Memorial Medical Center by raising essential funds that enhance patient care, improve facilities, and advance medical technology. Through its fundraising activities, the foundation ensures that the medical center can continue to provide high-quality healthcare services to the community in Torrance, California. The impact of the foundation is evident in its ability to secure contributions that directly support various initiatives aimed at improving health outcomes, expanding services, and ensuring that the medical center remains a vital resource for the community's healthcare needs.
This information is meant to be a general summary of Torrance Memorial Medical Center Health Care Foundation. 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: $1,270,094
- Gross Receipts: $34,278,409
Assets and Liabilities:
- Total Assets: $117,777,868
- Total Liabilities: $992,402
- Net Assets: $116,785,466
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Organization Details
Founding Year
1980
Phone
(310) 517-4688Main Address
3330 LOMITA BLVD, TORRANCE, CA, 90505
NTEE Category
Code: E21Z - Health
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