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Nonprofiteer
← MONTECITO RETIREMENT ASSOCIATION

Form 990 for tax year 2023

Filed by MONTECITO RETIREMENT ASSOCIATION.

Totals

Total revenue
$40,878,663
Total expenses
$37,537,540
Contributions and grants received
$1,357,371
Grants paid
$109,885
Program service revenue
$37,670,264
Investment income
$1,841,103
Other revenue
$9,925
Total assets, end of year
$157,127,942
Total liabilities, end of year
$119,413,314
Net assets or fund balances, end of year
$37,714,628
Program services expenses (Part IX)
$33,033,576
Management and general expenses
$4,285,645
Fundraising expenses
$218,319
Program service expenses (Part III)
$33,033,576

Program services were 88.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $1,357,371

  • 1g · Noncash contributions included above

    $115,786

  • 2a · Program service revenue: PROGRAM SERVICE FEES

    total $36,589,052 · related or exempt $36,589,052

  • 2b · Program service revenue: SERVICE INCOME

    total $1,081,212 · related or exempt $1,081,212

  • 3 · Investment income

    total $917,852 · excluded $917,852

  • 7a · Gross sales of assets other than inventory

    securities $981,225

  • 7b · Less cost or other basis and sales expenses

    securities $54,193 · other assets $3,781

  • 7c · Gain or loss

    securities $927,032 · other assets -$3,781

  • 7d · Net gain or loss

    total $923,251 · related or exempt $923,251

  • 11a · Other revenue: OTHER OPERATING INCOME

    total $9,925 · related or exempt $9,925

  • 11e · Other revenue, total

    $9,925

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $109,885 · program services $109,885

  • 5 · Compensation of officers, directors and key employees

    total $1,354,299 · management and general $1,354,299

  • 7 · Other salaries and wages

    total $13,638,485 · program services $12,708,580 · management and general $806,402 · fundraising $123,503

  • 8 · Pension plan contributions

    total $657,830 · program services $516,216 · management and general $131,447 · fundraising $10,167

  • 9 · Other employee benefits

    total $2,625,427 · program services $2,165,112 · management and general $420,877 · fundraising $39,438

  • 10 · Payroll taxes

    total $1,161,665 · program services $988,337 · management and general $163,437 · fundraising $9,891

  • 11g · Fees: other

    total $472,260 · program services $147,537 · management and general $324,723

  • 20 · Interest

    total $620,861 · program services $612,743 · management and general $7,818 · fundraising $300

  • 22 · Depreciation, depletion and amortization

    total $6,688,207 · program services $6,600,749 · management and general $84,224 · fundraising $3,234

  • 23 · Insurance

    total $1,558,365 · program services $1,537,987 · management and general $19,624 · fundraising $754

  • 24a · Other expenses: FOOD PURCHASES

    total $2,180,057 · program services $2,171,594 · management and general $8,172 · fundraising $291

  • 24b · Other expenses: UTILITIES

    total $1,568,729 · program services $1,548,215 · management and general $19,755 · fundraising $759

  • 24c · Other expenses: OTHER MEDICAL SERVICES

    total $1,089,222 · program services $1,089,222

  • 24d · Other expenses: SUPPLIES

    total $844,123 · program services $750,622 · management and general $91,453 · fundraising $2,048

  • 24e · All other expenses

    total $2,968,125 · program services $2,086,777 · management and general $853,414 · fundraising $27,934

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $9,346,863 · end of year $8,373,880

  • 3 · Pledges and grants receivable

    beginning of year $2,319,087 · end of year $2,088,508

  • 4 · Accounts receivable

    beginning of year $2,215,250 · end of year $2,280,500

  • 7 · Other notes and loans receivable

    beginning of year $238,822 · end of year $897,879

  • 8 · Inventories for sale or use

    beginning of year $247,783 · end of year $222,363

  • 9 · Prepaid expenses and deferred charges

    beginning of year $951,451 · end of year $846,277

  • 10a · Land, buildings and equipment: cost or other basis

    $170,551,337

  • 10b · Land, buildings and equipment: accumulated depreciation

    $57,154,338

  • 10c · Land, buildings and equipment, net

    beginning of year $115,601,605 · end of year $113,396,999

  • 11 · Investments: publicly traded securities

    beginning of year $21,316,881 · end of year $28,506,957

  • 15 · Other assets

    beginning of year $473,780 · end of year $514,579

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,067,621 · end of year $4,484,189

  • 19 · Deferred revenue

    beginning of year $2,232,182 · end of year $2,107,331

  • 20 · Tax-exempt bond liabilities

    beginning of year $15,722,185 · end of year $14,297,670

  • 24 · Unsecured notes and loans payable

    beginning of year $4,478,763 · end of year $3,911,437

  • 25 · Other liabilities

    beginning of year $93,598,759 · end of year $94,612,687

  • 27 · Net assets without donor restrictions

    beginning of year $30,890,170 · end of year $35,435,792

  • 28 · Net assets with donor restrictions

    beginning of year $1,721,842 · end of year $2,278,836

Mission and programs · 2023

Mission

THE MISSION OF THE MONTECITO RETIREMENT ASSOCIATION IS TO OPERATE AT CASA DORINDA A LIFECARE PROGRAM WITH A COMMITMENT TO EXCELLENCE IN THE QUANTITY AND QUALITY OF ITS SERVICES SO THAT ITS RESIDENTS MAY CONTINUE TO LIVE THEIR LIVES WITH DIGNITY, SECURITY AND AS INDEPENDENTLY AND FULLY AS THEY ARE ABLE.

Activities or mission (Part I)

THE MONTECITO RETIREMENT ASSOCIATION OPERATES CASA DORINDA, A CCRC LIFECARE RETIREMENT COMMUNITY IN MONTECITO, CALIFORNIA.

  • CASA DORINDA PROVIDES THREE LEVELS OF CARE AND SERVICE TO ITS RESIDENTS. THE MEDICAL CENTER PROVIDES NURSING SERVICES IN ITS 52 BED SKILLED NURSING FACILITY. IN 2023, THERE WAS AN AVERAGE DAILY CENSUS OF APPROXIMATELY 29.5 PATIENTS; AN AVERAGE OF 6.7 PATIENTS WERE CARED FOR ON A TEMPORARY BASIS AND 22.8 RECEIVED CARE ON A LONG-TERM BASIS. IN RESIDENTIAL LIVING, AN AVERAGE OF 313 SENIORS WERE PROVIDED HOUSING AND HOSPITALITY SERVICES, ALONG WITH SUPERVISION AND INTERMITTED CARE DELIVERED THROUGH THE ON-SITE CLINIC AND IN-HOME SUPPORTIVE SERVICE STAFF. AN AVERAGE OF 33 RESIDENTS WERE ASSISTED WITH DAILY LIVING IN THE PERSONAL AND MEMORY CARE BUILDING.

    Expenses $33,033,576 · Grants $109,885 · Revenue $38,603,440

  • OTHER SERVICES OFFERED TO SENIORS ON THE CASA DORINDA CAMPUS INCLUDE: DINING, MAINTENANCE, HOUSEKEEPING, SECURITY, LIFE ENRICHMENT, HEALTH AND FITNESS ACTIVITIES, THERAPIES, SOCIAL AND ADMINISTRATIVE SERVICES. ALL OF THESE PROGRAMS, INCLUDING THE THREE LARGEST, ARE WITHIN THE UMBRELLA OF CONTINUING CARE.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Larry Dam

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • Dr Ramona Clark

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Katina Zaninovich

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Stephen Hicks

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Victoria Hazard

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Nancy Spivey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Christopher J Toomey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Kathryn Washburn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Brian McCague

    CEO

    Total calculated
    $522,213
    From this org
    $474,261
    From related orgs
    $0
    Other
    $47,952
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $317,975
    Bonus
    $96,278
    Other
    $60,008
    Deferred
    $33,000
    Nontaxable benefits
    $14,952
    Filer's total
    $522,213

  • David Brown

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Matt Brown

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Dr Jeffrey Kupperman MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • William Curtis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Barkley Kern

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Diana Lovan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Glynn Caberte

    CFO

    Total calculated
    $217,140
    From this org
    $195,942
    From related orgs
    $0
    Other
    $21,198
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,837
    Bonus
    $17,105
    Other
    $0
    Deferred
    $11,158
    Nontaxable benefits
    $10,040
    Filer's total
    $217,140

  • Therese Brown

    SENIOR DIRECTOR MEDICAL OP

    Total calculated
    $219,153
    From this org
    $190,227
    From related orgs
    $0
    Other
    $28,926
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,941
    Bonus
    $20,286
    Other
    $0
    Deferred
    $19,023
    Nontaxable benefits
    $9,903
    Filer's total
    $219,153

  • Alan Blaver

    SENIOR DIRECTOR GENERAL OP

    Total calculated
    $204,196
    From this org
    $176,630
    From related orgs
    $0
    Other
    $27,566
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,835
    Bonus
    $17,795
    Other
    $0
    Deferred
    $17,663
    Nontaxable benefits
    $9,903
    Filer's total
    $204,196

  • Nicole Ramirez

    SENIOR DIRECTOR OF RESIDENT SERVICES

    Total calculated
    $191,598
    From this org
    $165,165
    From related orgs
    $0
    Other
    $26,433
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,296
    Bonus
    $16,869
    Other
    $0
    Deferred
    $16,270
    Nontaxable benefits
    $10,163
    Filer's total
    $191,598

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Housing allowance or residence for personal use
  • 1a · Health or social club dues or initiation fees
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 6a · Pay contingent on this organization's net earnings

Answered no

  • 1b · Written policy on the line-1a expenses
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
SUBSIDIZED HEALTH CLUB DUES ARE PROVIDED FOR ALL EMPLOYEES. HOUSING IS INCLUDED AS PART OF THE CEO'S EMPLOYMENT CONTRACT.
PART I, LINE 6
ONE CRITERIA OF THE DIRECTOR AND SENIOR DIRECTOR BONUS CALCULATION IS BASED ON FINANCIAL PERFORMANCE.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
28 October 2024
IRS schema version
2023v5.1
Source object
202443099349303334

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