Goleta Valley Cottage Hospital Foundation

EIN: 770003554 501(c)(3)

Goleta, CA

Total Revenue
$307,904
Total Expenses
$4,085,941
Total Assets
N/A
Net Assets
N/A
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1988
Legal Domicile
CA
Phone
8052876903
Tax Period
2023-01-01 to 2023-07-31

Goleta Valley Cottage Hospital Foundation, founded in 1988, is a small nonprofit that reported $308K in total revenue in fiscal year 2023. Revenue fell 67% from the prior year — a significant decline worth monitoring. Expenses of $4.1M exceeded revenue, resulting in a 1227% operating deficit.

Mission

Goleta Valley Cottage Hospital Foundation operates solely for the benefit of Goleta Valley Cottage Hospital. It is organized specifically to develop, manage and channel the community's philanthropic support on behalf of the Goleta Valley Cottage Hospital. On July 31, 2023, the Foundation terminated and transferred all assets to the Foundation for Cottage Rehabilitation and Goleta Valley Cottage Hospitals.

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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 (2023)

Revenue Breakdown

Contributions & Grants $287,699
Program Service Revenue $0
Investment Income $34,276
Other Revenue $-14,071
TOTAL REVENUE $307,904

Expense Breakdown

Grants Paid $4,007,360
Salaries & Benefits $0
Fundraising Expenses $18,406
Program Expenses $4,007,360
Other Expenses $78,581
TOTAL EXPENSES $4,085,941

Year-over-Year Comparison

2023 2022 Change
Revenue $307,904 $945,107 -0.7%
Expenses $4,085,941 $380,379 +9.7%
Net Income $-3,778,037 $564,728 -7.7%
Key Indicators
✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
13
Independent Members
13
Employees
N/A
Volunteers
62

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
3
$0
Total Directors
13
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A Chair 3.0
Officer Director
$0 $0 $0
N/A Vice Chair 3.0
Officer Director
$0 $0 $0
N/A Treasurer 3.0
Officer Director
$0 $0 $0
N/A Director 2.0
Director
$0 $0 $0
N/A Director 2.0
Director
$0 $0 $0
N/A Director 2.0
Director
$0 $0 $0
N/A Secretary 3.0
Director
$0 $0 $0
N/A Director 2.0
Director
$0 $0 $0
N/A Director 2.0
Director
$0 $0 $0
N/A Director 2.0
Director
$0 $0 $0
N/A Director 2.0
Director
$0 $0 $0
N/A Director 2.0
Director
$0 $0 $0
N/A Director 2.0
Director
$0 $0 $0
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
2023 $307,904 $4,085,941 No data $-3,778,037
2022 $945,107 $380,379 $9,482,475 $564,728
2021 $1,089,274 $1,058,548 $9,122,583 $30,726
2020 $867,946 $371,064 $9,001,254 $496,882
2019 $686,616 $596,708 $8,382,197 $89,908
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