Torrance Health Association Inc

Analysis

Torrance Health Association Inc is a registered charity in United States, based in Torrance, CA. It received its IRS tax-exemption ruling in May 1985, 41 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Torrance Health Association Inc reported income of $280.6m and spending of $302.2m, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $185.7m to $280.6m (+51%), an average of +11% a year. The sharpest change came in the year to June 2021, when income rose by 18%. Over the whole period it spent 110% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Torrance Health Association Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within CA. Charities of a similar size with the same main cause include Medstar Southern Maryland Hospital Center Inc ($280.3m), Baptist Memorial Health Care Corporation ($281.0m) and St Marys Hospital Inc ($279.9m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 98% of the total. Compensation of current officers, directors and key employees was $1.8m (0.6% of expenses). Other salaries and wages came to $80.1m. At year end it held assets of $168.3m against liabilities of $146.2m, net assets of $22.1m. It reported 1,076 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.