Santa Barbara Cottage Hospital Foundation

Nonprofit profile at a glance

EIN
953802238
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Santa Barbara, CA, USA
Phone
8052876903
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$33,037,378
Expenses
$17,146,326
Assets
$294,551,437
Liabilities
$3,161,716

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

20 people listed

Executive titles in this filing

  • Ronald Werft (President & CEO)

Highest reported compensation

  • Ronald Werft (President & CEO): $2,100,995 total reported compensation
  • Lisa Moore (Executive VP and COO): $1,236,753 total reported compensation
  • Kristin Tufvesson (Senior VP and CFO): $1,182,544 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

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.

What it reported doing in 2024

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.

Operating model

Revenue model
Donor-supported. 88% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 55
  • Transparency & Controls: 77
  • Accountability: 100
  • Sustainability: 92
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 49.5%; rating input score 50
  • Program expense ratio: 68.6%; rating input score 69
  • Fundraising efficiency: $8.92 raised per $1 spent on fundraising; rating input score 35; 35th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 48.1%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 17.18; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 92; 92nd percentile among comparable filings
  • Officer compensation ratio: 2.2%; rating input score 75; 75th percentile among comparable filings

Growth

  • Program expense growth: -0.3% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: 8.1% per year; rating input score 100; 65th percentile among comparable filings
  • Asset growth: 0.2% per year; rating input score 100; 11th percentile among comparable filings

Details

  • Where the money goes: 49.5% of revenue deployed · 68.6% of spending went to programs
  • Governance: 16 of 16 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $11.8M in reported program spending
  • Leadership: top reported pay $2.1M · 20 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $130K reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 11 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 13 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 50/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 35/100.
  • High — Growth: Program expense growth scored 0/100.