Laguna Cottages for Seniors

Analysis

Laguna Cottages for Seniors is a registered charity in United States, based in Santa Barbara, CA. It received its IRS tax-exemption ruling in December 1954, 72 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. 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, Laguna Cottages for Seniors reported income of $617k and spending of $655k, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $522k to $617k (+18%), an average of +4.3% a year. The sharpest change came in the year to December 2021, when income rose by 37%. Over the whole period it spent 97% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Laguna Cottages for Seniors sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 75th percentile within CA. Charities of a similar size with the same main cause include South Seventh Corporation ($617k), Housing Solutions for Southeastern Massachusetts Inc ($617k) and Damascus House Community Development Corporation ($616k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.5% and program service revenue 74% of the total. Compensation of current officers, directors and key employees was $105k (16% of expenses). Other salaries and wages came to $29k. At year end it held assets of $6.5m against liabilities of $20k, net assets of $6.5m. It reported 5 employees.