Santa Barbara Cottage Hospital

EIN: 951644629 501(c)(3) Health Care

Santa Barbara, CA

Total Revenue
$979,989,338
Total Expenses
$918,767,785
Total Assets
$2,217,462,092
Net Assets
$1,572,735,805
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1888
Legal Domicile
CA
Phone
8052876903
Tax Period
2023-01-01 to 2023-12-31

Santa Barbara Cottage Hospital, founded in 1888, is a major nonprofit in the Health Care sector that reported $980.0M in total revenue in fiscal year 2023. Expenses of $918.8M left a modest 6% surplus.

Mission

It is the mission of Santa Barbara Cottage Hospital to provide superior health care for and improve the health care of our communities through a commitment to our core values of excellence, integrity, and compassion.

Program Service Accomplishments

Program 1
Expenses: $773,644,564 Revenue: $900,511,517

Santa Barbara Cottage Hospital is a 519-bed acute-care hospital located in the City of Santa Barbara. In 2023, the Hospital had 94,842 patient days, served 139,246 outpatients, including emergency...

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Santa Barbara Cottage Hospital is a 519-bed acute-care hospital located in the City of Santa Barbara. In 2023, the Hospital had 94,842 patient days, served 139,246 outpatients, including emergency services to 51,720 patients. The Hospital provides a wide array of inpatient and outpatient services, including but not limited to the areas of cardiology, orthopedics, neurology, trauma, labor & delivery, psychiatric, neonatal intensive care, pediatric intensive care, pediatrics, laboratory, imaging, therapy, diabetes, oncology, emergency and rehabilitation services. The hospital is diligent in ensuring that all patients have adequate access to care. All patients who do not present insurance are automatically screened for eligibility in government health programs and are assisted in applying for financial assistance if the patient does not qualify for any other assistance. Santa Barbara Cottage Hospital provides critical funding for community health needs through health care related community activities, financial assistance and external grants, while also realizing shortfalls in Medicare, Medi-Cal, and indigent care. Activities include screenings and health fairs; classes, clinics, lectures, and seminars; community services; community collaborations; and coalitions/committees. External grants aimed at specific community needs included assistance to at risk populations (indigent health care and housing; substance abuse recovery; support for at risk elderly; hospice care; health care education for our schools & families, family counseling, aging transportation, access to care, and nursing education as well as operating pediatric and other specialized clinics at shortfalls. In 2023, the hospital spent over $240 million on these various programs.

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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 $13,039,858
Program Service Revenue $890,547,000
Investment Income $61,934,511
Other Revenue $14,467,969
TOTAL REVENUE $979,989,338

Expense Breakdown

Grants Paid $5,229,614
Salaries & Benefits $440,153,755
Fundraising Expenses $0
Program Expenses $773,644,564
Other Expenses $473,384,416
TOTAL EXPENSES $918,767,785

Year-over-Year Comparison

2023 2022 Change
Revenue $979,989,338 $928,233,984 +0.1%
Expenses $918,767,785 $858,457,659 +0.1%
Net Income $61,221,553 $69,776,325 -0.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
15
Independent Members
15
Employees
3882
Volunteers
679

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
8
$5,394,144
Total Directors
18
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A Secretary 1.2
Officer Director
$0 $0 $0
N/A Board Chair 4.0
Officer Director
$0 $0 $0
N/A Vice Chair 1.2
Officer Director
$0 $0 $0
N/A Vice Chair 1.2
Officer Director
$0 $0 $0
N/A Board Member 0.8
Director
$0 $0 $0
N/A Board Member (Part Year through 1/2023) 0.8
Director
$0 $0 $0
N/A Board Member 0.8
Director
$0 $0 $0
N/A Board Member 0.8
Director
$0 $0 $0
N/A Board Member 0.8
Director
$0 $0 $0
N/A Board Member (Part Year through 1/2023) 0.8
Director
$0 $0 $0
N/A Board Member 0.8
Director
$0 $0 $0
N/A Board Member (Part Year through 9/2023) 0.8
Director
$0 $0 $0
N/A Board Member 0.8
Director
$0 $0 $0
N/A Board Member 0.8
Director
$0 $0 $0
N/A Board Member 0.8
Director
$0 $0 $0
N/A Board Member 0.8
Director
$0 $0 $0
N/A Board Member 0.8
Director
$0 $0 $0
N/A Board Member 0.8
Director
$0 $0 $0
N/A Senior VP and CFO 12.5
Officer
$0 $103,185 $1,109,985
N/A Executive VP and COO 12.5
Officer
$0 $234,431 $1,305,325
N/A President & CEO 12.0
Officer
$0 $88,325 $2,002,344
N/A Senior VP and General Counsel 12.5
Officer
$0 $91,065 $976,490
N/A Director Surgery Residency Program 40.0
Highest
$554,164 $38,132 $592,296
N/A Director Internal Medicine Residency Program 40.0
Highest
$334,761 $42,050 $376,811
N/A Director Women's and Children's Services 40.0
Highest
$355,525 $30,577 $386,102
N/A VP Research & Chief Research Officer 40.0
Highest
$720,578 $46,500 $767,078
N/A Medical Director Trauma Services/SICU 40.0
Highest
$386,994 $35,334 $422,328
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
2024 No data No data No data No data
2023 $979,989,338 $918,767,785 $2,217,462,092 $61,221,553
2022 $928,233,984 $858,457,659 $2,093,270,506 $69,776,325
2021 $927,341,858 $847,149,681 $2,130,359,861 $80,192,177
2020 $820,638,690 $802,131,212 $1,990,776,088 $18,507,478
2019 $837,598,218 $750,608,642 $1,817,093,511 $86,989,576
2018 $845,837,366 $720,952,221 $1,680,136,253 $124,885,145
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