Skip to content
Nonprofiteer
← GOLETA VALLEY COTTAGE HOSPITAL

Form 990 for tax year 2023

Filed by GOLETA VALLEY COTTAGE HOSPITAL.

Totals

Total revenue
$132,269,178
Total expenses
$98,950,119
Contributions and grants received
$4,007,714
Grants paid
$2,591,161
Program service revenue
$120,772,316
Investment income
$6,921,948
Other revenue
$567,200
Total assets, end of year
$278,250,447
Total liabilities, end of year
$11,658,796
Net assets or fund balances, end of year
$266,591,651
Program services expenses (Part IX)
$86,348,267
Management and general expenses
$12,601,852
Fundraising expenses
$0
Program service expenses (Part III)
$86,348,267

Program services were 87.3% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $7,714

  • 1f · All other contributions, gifts and grants

    $4,000,000

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: NET PATIENT SERVICE REVENUE

    total $115,937,217 · related or exempt $115,937,217 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: CA HOSPITAL FEE PROGRAM

    total $4,835,099 · related or exempt $4,835,099

  • 2c · Program service revenue

    total $0 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $2,635,393 · related or exempt $0 · unrelated business $0 · excluded $2,635,393

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $163,453,316 · other assets $4,298

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

    securities $159,109,812 · other assets $61,247

  • 7c · Gain or loss

    securities $4,343,504 · other assets -$56,949

  • 7d · Net gain or loss

    total $4,286,555 · related or exempt $0 · unrelated business $0 · excluded $4,286,555

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11a · Other revenue: CAFETERIA/GIFT SHOP

    total $282,357 · excluded $282,357

  • 11b · Other revenue: Corporate Allocation

    total $205,391 · related or exempt $205,391

  • 11c · Other revenue: Other Revenues

    total $53,024 · related or exempt $53,024

  • 11d · All other revenue

    total $26,428 · related or exempt $26,428 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $567,200

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,590,534 · program services $2,590,534

  • 2 · Grants to domestic individuals

    total $627 · program services $627

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $1,379,181 · program services $629,621 · management and general $749,560 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $30,735,238 · program services $28,009,599 · management and general $2,725,639 · fundraising $0

  • 8 · Pension plan contributions

    total $378,880 · program services $65,053 · management and general $313,827 · fundraising $0

  • 9 · Other employee benefits

    total $10,640,446 · program services $8,145,002 · management and general $2,495,444 · fundraising $0

  • 10 · Payroll taxes

    total $1,980,435 · program services $1,899,279 · management and general $81,156 · fundraising $0

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $642,720 · program services $0 · management and general $642,720 · fundraising $0

  • 11g · Fees: other

    total $12,390,832 · program services $10,793,514 · management and general $1,597,318 · fundraising $0

  • 12 · Advertising and promotion

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $1,815,903 · program services $1,570,360 · management and general $245,543 · fundraising $0

  • 14 · Information technology

    total $2,998,535 · program services $1,807,424 · management and general $1,191,111 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $2,419,731 · program services $2,048,969 · management and general $370,762 · fundraising $0

  • 17 · Travel

    total $13,625 · program services $6,815 · management and general $6,810 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $4,709 · program services $1,574 · management and general $3,135 · fundraising $0

  • 20 · Interest

    total $29,950 · program services $17,970 · management and general $11,980 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $7,915,635 · program services $6,473,801 · management and general $1,441,834 · fundraising $0

  • 23 · Insurance

    total $620,662 · program services $434,726 · management and general $185,936 · fundraising $0

  • 24a · Other expenses: MEDICAL SUPPLIES

    total $18,835,133 · program services $18,811,791 · management and general $23,342 · fundraising $0

  • 24b · Other expenses: HOSPITAL FEE PROGRAM

    total $1,604,539 · program services $1,604,539 · management and general $0 · fundraising $0

  • 24c · Other expenses: EQUIPMENT MAINTENANCE

    total $1,428,506 · program services $1,354,550 · management and general $73,956 · fundraising $0

  • 24d · Other expenses: Settlement

    total $190,089 · program services $0 · management and general $190,089 · fundraising $0

  • 24e · All other expenses

    total $334,209 · program services $82,519 · management and general $251,690 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,109,985 · end of year $13,723,428

  • 2 · Savings and temporary cash investments

    beginning of year $701,494 · end of year $3,435,693

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $12,532,363 · end of year $13,525,804

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0

  • 8 · Inventories for sale or use

    beginning of year $786,948 · end of year $866,837

  • 9 · Prepaid expenses and deferred charges

    beginning of year $819,158 · end of year $567,638

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

    $179,199,433

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

    $74,976,539

  • 10c · Land, buildings and equipment, net

    beginning of year $101,110,220 · end of year $104,222,894

  • 11 · Investments: publicly traded securities

    beginning of year $55,979,217 · end of year $87,128,741

  • 12 · Investments: other securities

    beginning of year $36,029,678 · end of year $31,410,022

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $22,124,817 · end of year $23,369,390

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,304,409 · end of year $10,212,220

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $2,256,253 · end of year $1,446,576

  • 27 · Net assets without donor restrictions

    beginning of year $226,633,218 · end of year $266,591,651

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

It is the mission of Goleta Valley Cottage Hospital to provide superior health care for and improve the health care of our communities through a commitment to our core values of excellence, integrity, and compassion.

  • Goleta Valley Cottage Hospital is a 52-bed acute-care hospital located in the City of Goleta. In 2023 the Hospital had 2,728 patient days and served 63,737 outpatients, including emergency services to 23,775 patients. The Hospital provides a wide array of inpatient and outpatient services, including but not limited to cardiac, orthopedic, wound care, breast care and emergency services. Goleta Valley Cottage Hospital is diligent to ensure that all patients have adequate access to healthcare. All patients who do not present with insurance are automatically screened for eligibility in government health programs and are assisted in applying for financial assistance if the patient does not qualify for any other assistance. Goleta Valley Cottage Hospital provides critical funding for community health, financial assistance programs, and external grants, while also realizing shortfalls in Medicare, Medi-Cal, and indigent care. External grants were provided which aimed at specific community needs for at risk populations (indigent health; substance abuse recovery; elderly; family counseling). In addition, the hospital provides support of nursing education, health fairs, and the provision of flu shots to the community. In 2023 the hospital spent over $16.6 million on all community benefit programs.

    Expenses $86,348,267 · Grants $2,591,161 · Revenue $121,057,159

As filed on the 2023 return.

Listed in Part VII

  • Richard Ponce MD

    Secretary

    Total calculated
    $0
    Hours/week
    0.5 + 5.5 related
  • Steven Zola

    Board Chair

    Total calculated
    $0
    Hours/week
    1.6 + 18.4 related
  • Susan Christol-Deacon

    Vice Chair

    Total calculated
    $0
    Hours/week
    0.5 + 5.5 related
  • Thomas Cusack

    Vice Chair

    Total calculated
    $0
    Hours/week
    0.5 + 5.5 related
  • Bhupi Singh

    Board Member

    Total calculated
    $0
    Hours/week
    0.3 + 3.7 related
  • Dorothy Largay PhD

    Board Member (Part Year through 1/2023)

    Total calculated
    $0
    Hours/week
    0.3 + 3.7 related
  • Ernesto Paredes

    Board Member

    Total calculated
    $0
    Hours/week
    0.3 + 3.7 related
  • Gamble Parks ATTY

    Board Member

    Total calculated
    $0
    Hours/week
    0.3 + 3.7 related
  • Ginger Salazar

    Board Member

    Total calculated
    $0
    Hours/week
    0.3 + 3.7 related
  • Gregory Faulkner

    Board Member (Part Year through 1/2023)

    Total calculated
    $0
    Hours/week
    0.3 + 3.7 related
  • Mark Scott MD

    Board Member

    Total calculated
    $0
    Hours/week
    0.3 + 3.7 related
  • Nancy Nielsen

    Board Member (Part Year through 9/2023)

    Total calculated
    $0
    Hours/week
    0.3 + 3.7 related
  • Pamela Gann

    Board Member

    Total calculated
    $0
    Hours/week
    0.3 + 3.7 related
  • Roberta Griffin

    Board Member

    Total calculated
    $0
    Hours/week
    0.3 + 3.7 related
  • Robin Malone MD

    Board Member

    Total calculated
    $0
    Hours/week
    0.3 + 3.7 related
  • Steve Ortiz

    Board Member

    Total calculated
    $0
    Hours/week
    0.3 + 3.7 related
  • Wesley Schooler MD

    Board Member

    Total calculated
    $0
    Hours/week
    0.3 + 3.7 related
  • Yulun Wang PhD

    Board Member

    Total calculated
    $0
    Hours/week
    0.3 + 3.7 related
  • Kristin Tufvesson

    Senior VP and CFO

    Total calculated
    $1,109,985
    From this org
    $0
    From related orgs
    $1,006,800
    Other
    $103,185
    Hours/week
    5 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $642,693 related
    Bonus
    $0 + $194,998 related
    Other
    $0 + $169,109 related
    Deferred
    $0 + $69,000 related
    Nontaxable benefits
    $0 + $34,185 related
    Filer's total
    $0 + $1,109,985 related
  • Lisa Moore

    Executive VP and COO

    Total calculated
    $1,305,325
    From this org
    $0
    From related orgs
    $1,070,894
    Other
    $234,431
    Hours/week
    5 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $736,077 related
    Bonus
    $0 + $243,742 related
    Other
    $0 + $91,075 related
    Deferred
    $0 + $215,597 related
    Nontaxable benefits
    $0 + $18,834 related
    Filer's total
    $0 + $1,305,325 related
  • Ronald Werft

    President & CEO

    Total calculated
    $2,002,344
    From this org
    $0
    From related orgs
    $1,914,019
    Other
    $88,325
    Hours/week
    5 + 60 related

    Schedule J breakdown matched by us

    Base
    $0 + $1,337,016 related
    Bonus
    $0 + $521,907 related
    Other
    $0 + $55,096 related
    Deferred
    $0 + $65,192 related
    Nontaxable benefits
    $0 + $23,133 related
    Filer's total
    $0 + $2,002,344 related
  • Stacy Bratcher

    Senior VP and General Counsel

    Total calculated
    $976,490
    From this org
    $0
    From related orgs
    $885,425
    Other
    $91,065
    Hours/week
    5 + 50 related

    Schedule J breakdown matched by us

    Base
    $0 + $642,881 related
    Bonus
    $0 + $121,810 related
    Other
    $0 + $120,734 related
    Deferred
    $0 + $61,500 related
    Nontaxable benefits
    $0 + $29,565 related
    Filer's total
    $0 + $976,490 related
  • Arie Dejong

    VP OF GVCH

    Total calculated
    $749,560
    From this org
    $660,116
    From related orgs
    $0
    Other
    $89,444
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $437,276
    Bonus
    $91,132
    Other
    $131,708
    Deferred
    $59,250
    Nontaxable benefits
    $30,194
    Filer's total
    $749,560
  • Daniel Thomas

    Director Nursing

    Total calculated
    $332,693
    From this org
    $267,026
    From related orgs
    $0
    Other
    $65,667
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $222,848
    Bonus
    $18,326
    Other
    $25,852
    Deferred
    $41,535
    Nontaxable benefits
    $24,132
    Filer's total
    $332,693
  • Steffanie Carty

    Director, Surgery & Outpatient Services GVCH

    Total calculated
    $296,928
    From this org
    $264,622
    From related orgs
    $0
    Other
    $32,306
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $234,023
    Bonus
    $15,524
    Other
    $15,075
    Deferred
    $12,477
    Nontaxable benefits
    $19,829
    Filer's total
    $296,928
  • Irene Mindo

    Clinical Resource Nurse

    Total calculated
    $257,644
    From this org
    $223,468
    From related orgs
    $0
    Other
    $34,176
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $219,219
    Bonus
    $1,653
    Other
    $2,596
    Deferred
    $11,044
    Nontaxable benefits
    $23,132
    Filer's total
    $257,644
  • Jason Korn

    Clinical Nurse Coordinator

    Total calculated
    $311,763
    From this org
    $258,544
    From related orgs
    $0
    Other
    $53,219
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $256,214
    Bonus
    $1,653
    Other
    $677
    Deferred
    $42,893
    Nontaxable benefits
    $10,326
    Filer's total
    $311,763
  • Lisa Marie Labouve

    Clinical Manager

    Total calculated
    $299,639
    From this org
    $247,475
    From related orgs
    $0
    Other
    $52,164
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $209,265
    Bonus
    $19,502
    Other
    $18,708
    Deferred
    $41,438
    Nontaxable benefits
    $10,726
    Filer's total
    $299,639
  • Mary Fulcher

    Clinical Manager

    Total calculated
    $286,377
    From this org
    $225,319
    From related orgs
    $0
    Other
    $61,058
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $193,216
    Bonus
    $17,280
    Other
    $14,823
    Deferred
    $40,525
    Nontaxable benefits
    $20,533
    Filer's total
    $286,377
  • Susan San Marco

    Director Service Line

    Total calculated
    $296,538
    From this org
    $242,937
    From related orgs
    $0
    Other
    $53,601
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $212,961
    Bonus
    $22,533
    Other
    $7,443
    Deferred
    $41,775
    Nontaxable benefits
    $11,826
    Filer's total
    $296,538

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

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
On an annual basis the Executive Compensation Committee (ECC) of the Board of Directors meets to determine appropriate compensation for executives, including the CEO, COO, CFO, and vice presidents. All members of the ECC are independent members of the Board of Directors. The ECC engages an independent consultant to prepare comparative compensation reports for each position. The executives individual performance will also be considered when determining compensation. The ECC recommends compensation for the executives to the full Board for approval. This process takes place annually for all executives.
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
COTTAGE HEALTH PROVIDES CERTAIN EXECUTIVES A SUPPLEMENTAL RETIREMENT PROGRAM. THE PROGRAM IS DEFINED AS DEFERRED COMPENSATION UNDER THE IRC SECTION 457(F). THE ANNUAL CONTRIBUTION IS 9.8% OF BASE YEARS SALARY WITH THE CONTRIBUTIONS VESTING FIVE YEARS FROM CREDITING DATE, OR AT AGE 62, OR IMMEDIATELY IN THE EVENT OF DEATH, DISABILITY, OR INVOLUNTARY TERMINATION WITHOUT CAUSE. THE UNVESTED ACCOUNT BALANCES ARE ASSETS OF THE ORGANIZATION AND ARE INCLUDED IN OTHER ASSETS AND THE ACCRUED EXPENSE IS INCLUDED IN ACCRUED EXPENSES IN THE ACCOMPANYING CONSOLIDATED BALANCE SHEETS. THE AMOUNTS ARE SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE. DEFERRED CONTRIBUTIONS TO THIS PLAN WILL BE REPORTED AGAIN AS REPORTABLE COMPENSATION IN THE YEAR PAID. IN 2022, RECIPIENT PAYOUTS FROM THE 457(F) PLAN WERE Lisa Moore ($47,038) and Arie DeJong ($45,385).
Schedule J, Part I, Line 7 Non-fixed payments
Each year the Board of Directors determines if a bonus can be paid based on the financial operating results of the completed year. The Board determines the total amount of the bonus pool. This pool of money is distributed to employees in the management team based on the individual's achievement of personal goals and the overall team's accomplishment of system-wide goals pertaining to quality, service excellence, employee engagement, financial or other. The payout for individuals is calculated based on percentages of their base salary and their position.

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

  • Cottage Clinical Network

    $1,503,000

    Support of clinics throughout the County which provide access to care for individuals with no PCP

  • Support of neighborhood health clinics for low income patients

  • Provide mental health support to children and youth, including those with Adverse Childhood Experiences.

  • Santa Barbara City College Foundation

    $170,000

    Support of Nursing Program at Santa Barbara City College

  • Provide mental health support to children and youth, including those with Adverse Childhood Experiences.

  • Provide mental health support to children and youth, including those with Adverse Childhood Experiences.

  • Support of the Bachelor's in Science, Nursing program in Santa Barbara

  • Provide parenting education programs that will support parents of children and adolescents with culturally relevant parenting skills training.

  • Provide parenting education programs that will support parents of children and adolescents with culturally relevant parenting skills training.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Villa Riviera Real Estate Company

    C Corporation · Workforce Housing Development · CA · 0% owned · share of income $0 · share of assets $0 · controlled entity

    Directly controlled by SB Cottage Hosp Fndtn

Provenance

Return type
form_990
Tax year
2023
Filed
11 November 2024
IRS schema version
2023v5.1
Source object
202403169349303975

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.