Santa Barbara Cottage Hospital Foundation
- Assets
- $240.4m
- Revenue
- $45.2m
- Investments
- $49.9m
- Employees
- 0
- Location
- Santa Barbara, CA
- Founding
- 06/1984
- Data as of
- 12/2022
- EIN
- 95-3802238
Organization Overview
Santa Barbara Cottage Hospital Foundation is located in Santa Barbara, CA. The organization was established in 1984. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Santa Barbara Cottage Hospital Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Santa Barbara Cottage Hospital Foundation generated $45.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $18.0m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Santa Barbara Cottage Hospital Foundation has awarded 27 individual grants totaling $180,155,125. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Vice Chair | OfficerTrustee | 0.4 | $0 |
Name Not Listed Secretary (part Year) | OfficerTrustee | 0.3 | $0 |
Name Not Listed Chair (part Year) | OfficerTrustee | 0.3 | $0 |
Name Not Listed Secretary | OfficerTrustee | 0.3 | $0 |
Name Not Listed Board Chair | OfficerTrustee | 1.2 | $0 |
Name Not Listed Vice Chair | OfficerTrustee | 0.4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Change For Balance Llc Fundraising Consulting | 12/30/22 | $277,250 |
True Media Llc Production Services | 12/30/22 | $162,869 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $35,678,954 |
| Noncash contributions included in lines 1a–1f | $201,366 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $35,678,954 |
| Total Program Service Revenue | $189,766 |
| Investment income | $1,917,799 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $81,727 |
| Net Rental Income | $426,499 |
| Net Gain/Loss on Asset Sales | $5,353,284 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $45,245,201 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,764,960 |
| Grants and other assistance to domestic individuals. | $524,958 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $2,303,366 |
| Fees for services: Legal | $3,347 |
| Fees for services: Accounting | $94,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $878,488 |
| Fees for services: Other | $932,333 |
| Advertising and promotion | $0 |
| Office expenses | $159,595 |
| Information technology | $271,000 |
| Royalties | $0 |
| Occupancy | $28,516 |
| Travel | $9,495 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $36,553 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $234,184 |
| Insurance | $11,750 |
| All other expenses | $21,432 |
| Total functional expenses | $17,971,826 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,908,881 |
| Savings and temporary cash investments | $863,775 |
| Pledges and grants receivable | $37,983,237 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $16,363,096 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $163,499 |
| Net Land, buildings, and equipment | $40,541,452 |
| Investments—publicly traded securities | $68,929,167 |
| Investments—other securities | $49,870,358 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,764,675 |
| Total assets | $240,388,140 |
| Accounts payable and accrued expenses | $100,405 |
| Grants payable | $0 |
| Deferred revenue | $86,100 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,053,775 |
| Total liabilities | $5,240,280 |
| Net assets without donor restrictions | $125,699,749 |
| Net assets with donor restrictions | $109,448,111 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $240,388,140 |
Grants Awarded
Over the last fiscal year, Santa Barbara Cottage Hospital Foundation has awarded $11,764,960 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
SANTA BARBARA COTTAGE HOSPITAL PURPOSE: Support of Capital and general operations | $10,425,873 |
COTTAGE HEALTH PURPOSE: Support of Population Health programs | $1,187,087 |
CSUCI FOUNDATION PURPOSE: Support of the Bachelor's in Science, Nursing program in Santa Barbara | $120,000 |
WESTMONT COLLEGE PURPOSE: Support of the Bachelor's in Science, Nursing program in Santa Barbara | $32,000 |