Santa Barbara Cottage Hospital Fou… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1982

Legal Domicile

Phone

8052876903

Tax Period

2023-01-01 to 2023-12-31

Santa Barbara Cottage Hospital Foundation, founded in 1982, is a mid-sized nonprofit in the Health Care sector that reported $69.1M in total revenue in fiscal year 2023. Revenue surged 53% from the prior year, signaling strong growth momentum. The organization ran a surplus of $52.7M, a strong 76% operating margin.

Mission

It is the mission of Santa Barbara Cottage Hospital Foundation to solicit, receive, invest, maintain and distribute funds for the support of charitable, scientific, and educational activities of Santa Barbara Cottage Hospital.

Program Service Accomplishments

Program 1

Expenses: $11,149,955 Revenue: $212,471

SANTA BARBARA COTTAGE HOSPITAL FOUNDATION IS A NONPROFIT PUBLIC BENEFIT CORPORATION CREATED TO SUPPORT SANTA BARBARA COTTAGE HOSPITAL (HOSPITAL) BY SOLICITING, RECEIVING AND MAINTAINING GIFTS OF...

SANTA BARBARA COTTAGE HOSPITAL FOUNDATION IS A NONPROFIT PUBLIC BENEFIT CORPORATION CREATED TO SUPPORT SANTA BARBARA COTTAGE HOSPITAL (HOSPITAL) BY SOLICITING, RECEIVING AND MAINTAINING GIFTS OF MONEY AND PROPERTY AND TO DISTRIBUTE MONEY AND PROPERTY FOR CHARITABLE, SCIENTIFIC AND EDUCATION ACTIVITIES FOR THE HOSPITAL. THE FOUNDATION PROVIDED SUPPORT FOR OPERATIONS OF SANTA BARBARA COTTAGE HOSPITAL. THE FOUNDATION ALSO SUPPORTS MEDICAL EDUCATION IN THE COMMUNITY BY PROVIDING GRANTS TO SANTA BARBARA CITY COLLEGE'S NURSING PROGRAM AND BY PROVIDING SCHOLARSHIPS TO INDIVIDUALS PURSUING A NURSING DEGREE. THE FOUNDATION ALSO PROVIDED SUPPORT TO THE WORKFORCE OF COTTAGE HEALTH THROUGH ITS MORTGAGE ASSISTANCE PROGRAM. THIS PROGRAM PROVIDES A LOW-INTEREST LOAN TO EMPLOYEES WHO ARE PURCHASING A HOME IN THE SANTA BARBARA AREA. EMPLOYEES ARE ELIGIBLE TO RECEIVE UP TO $250,000 OR 15% OF THE PURCHASE PRICE TOWARDS A NEW HOME.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $60,821,825

Program Service Revenue $212,471

Investment Income $8,094,671

Other Revenue $-66,282

TOTAL REVENUE $69,062,685

Expense Breakdown

Grants Paid $11,148,244

Salaries & Benefits $0

Fundraising Expenses $2,136,377

Program Expenses $11,149,955

Other Expenses $5,173,598

TOTAL EXPENSES $16,321,842

Year-over-Year Comparison

	2023	2022	Change
Revenue	$69,062,685	$45,245,201	+0.5%
Expenses	$16,321,842	$17,971,826	-0.1%
Net Income	$52,740,843	$27,273,375	+0.9%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

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

$5,394,144

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	Secretary	0.4	Officer Director	$0	$0	$0
N/A	Board Chair	1.2	Officer Director	$0	$0	$0
N/A	Vice Chair	0.4	Officer Director	$0	$0	$0
N/A	Vice Chair	0.4	Officer Director	$0	$0	$0
N/A	Board Member	0.2	Director	$0	$0	$0
N/A	Board Member (Part Year through 1/2023)	0.2	Director	$0	$0	$0
N/A	Board Member	0.2	Director	$0	$0	$0
N/A	Board Member	0.2	Director	$0	$0	$0
N/A	Board Member	0.2	Director	$0	$0	$0
N/A	Board Member (Part Year through 1/2023)	0.2	Director	$0	$0	$0
N/A	Board Member	0.2	Director	$0	$0	$0
N/A	Board Member (Part Year through 9/2023)	0.2	Director	$0	$0	$0
N/A	Board Member	0.2	Director	$0	$0	$0
N/A	Board Member	0.2	Director	$0	$0	$0
N/A	Board Member	0.2	Director	$0	$0	$0
N/A	Board Member	0.2	Director	$0	$0	$0
N/A	Board Member	0.2	Director	$0	$0	$0
N/A	Board Member	0.2	Director	$0	$0	$0
N/A	Senior VP and CFO	3.0	Officer	$0	$103,185	$1,109,985
N/A	Executive VP and COO	0.0	Officer	$0	$234,431	$1,305,325
N/A	President & CEO	3.0	Officer	$0	$88,325	$2,002,344
N/A	Senior VP and General Counsel	3.0	Officer	$0	$91,065	$976,490

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	$69,062,685	$16,321,842	$273,586,783	$52,740,843
2022	$45,245,201	$17,971,826	$240,388,140	$27,273,375
2021	$25,746,926	$25,520,035	$242,184,554	$226,891
2020	$14,967,804	$9,831,485	$236,175,257	$5,136,319
2019	$25,103,771	$8,129,531	$196,311,762	$16,974,240
2018	$18,986,741	$44,969,029	$168,709,592	$-25,982,288

Santa Barbara Cottage Hospital Foundation