Montecito Retirement Association

Analysis

Montecito Retirement Association is a registered charity in United States, based in Santa Barbara, CA. It received its IRS tax-exemption ruling in April 1993, 33 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Montecito Retirement Association reported income of $40.9m and spending of $37.5m, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $28.9m to $40.9m (+41%), an average of +9.0% a year. Over the whole period it spent 95% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Montecito Retirement Association sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within CA. Charities of a similar size with the same main cause include Moravian Home Incorporated ($40.8m), International Water Management Institute ($40.9m) and Spokane Neighborhood Action Partners ($40.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.3% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $1.4m (3.6% of expenses). Other salaries and wages came to $13.6m. At year end it held assets of $157.1m against liabilities of $119.4m, net assets of $37.7m. It reported 360 employees.