Goleta Valley Cottage Hospital

Analysis

Goleta Valley Cottage Hospital is a registered charity in United States, based in Santa Barbara, CA. It received its IRS tax-exemption ruling in April 1997, 29 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. The IRS classifies it as a hospital or medical research organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Goleta Valley Cottage Hospital reported income of $132.3m and spending of $99.0m, leaving 25% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $102.7m to $132.3m (+29%), an average of +6.5% a year. Over the whole period it spent 78% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Goleta Valley Cottage Hospital sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 100th percentile within CA. Charities of a similar size with the same main cause include Connecticut Childrens Specialty Group Inc ($132.2m), Oneida Healthcare Systems Inc ($132.9m) and Tarzana Treatment Centers Inc ($132.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 3.0% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $1.4m (1.4% of expenses). Other salaries and wages came to $30.7m. At year end it held assets of $278.3m against liabilities of $11.7m, net assets of $266.6m. It reported 347 employees.