Torrance Memorial Foundation

Legal name: Torrance Memorial Medical Center Health Care Foundation

Nonprofit profile at a glance

EIN
953528452
IRS 990 coverage
2010–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Torrance, CA, US
Phone
310.517.4703
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Community Health Systems

Official website

Reported finances

Revenue
$49,203,916
Expenses
$21,601,594
Assets
$165,907,070
Liabilities
$56,174

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

32 people listed

Executive titles in this filing

  • Mark Lurie (PRESIDENT)
  • Phil Pavesi (VICE PRESIDENT)

Highest reported compensation

  • Craig D Leach (BOARD MEMBER (SEE SCH J, PART III)): $55,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

At Torrance Memorial, exceptional patient care is at the heart of everything we do. Our commitment extends beyond having state-of-the-art facilities and receiving awards; it’s about relentlessly striving to improve and provide the best possible care for our patients, families, and community.

What it reported doing in 2024

All expenses are related to the activities of solicitation of funds and receiving contributions in support of torrance memorial medical center.

Operating model

Revenue model
Donor-supported. 96% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 66
  • Transparency & Controls: 100
  • Accountability: 86
  • Sustainability: 82
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 47.1%; rating input score 47
  • Program expense ratio: 94.7%; rating input score 95
  • Fundraising efficiency: $49.03 raised per $1 spent on fundraising; rating input score 75; 75th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 96.8%; rating input score 97; 31st percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 56.1%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 7.68; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 5.5% per year; rating input score 100; 46th percentile among comparable filings
  • Revenue growth: 5% per year; rating input score 100; 44th percentile among comparable filings
  • Asset growth: 9.4% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • What they do: 5 programs and campaigns described on the official site · 2 operating locations identified
  • Where the money goes: 47.1% of revenue deployed · 94.7% of spending went to programs
  • Governance: 30 of 31 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $20.4M in reported program spending
  • Leadership: top reported pay $55K · 32 people listed
  • Highest-paid contractors: 3 contractors listed · $656K reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 8 filed schedules · includes major donors, grants, and related organizations
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 29 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 47/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.