Risb Foundation
- Assets
- $25.6m
- Revenue
- $1.9m
- Investments
- $3.6m
- Employees
- 0
- Location
- Santa Barbara, CA
- Founding
- 10/2007
- Data as of
- 12/2021
- EIN
- 26-0433816
Organization Overview
Risb Foundation, operating under the name Cottage Rehabilitation Hospital Foundation, is located in Santa Barbara, CA. The organization was established in 2007. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cottage Rehabilitation Hospital Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Cottage Rehabilitation Hospital Foundation generated $1.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $610.9k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
IT IS THE MISSION OF COTTAGE REHABILITATION HOSPITAL FOUNDATION TO SUPPORT THE ACUTE MEDICAL REHABILITATION AND RELATED SERVICES AT COTTAGE REHABILITATION HOSPITAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COTTAGE REHABILITATION HOSPITAL FOUNDATION PROVIDED SUPPORT FOR THE ACUTE MEDICAL REHABILITATION AND RELATED SERVICES AT COTTAGE REHABILITATION HOSPITAL (HOSPITAL) AS WELL AS THE COMMUNITY AT LARGE. SUPPORT INCLUDED ASSISTANCE TO THE HOSPITAL FOR EQUIPMENT, PROGRAMS AND STAFF TRAINING, SUPPORT OF INDIGENT CARE FOR REHABILITATION SERVICES, AND PROVIDING COMMUNITY EDUCATION ON CURRENT REHABILITATION BEST PRACTICES. THROUGH THE PATIENT ASSISTANCE PROGRAM, THE FOUNDATION IS ABLE TO ASSIST REHABILITATION PATIENTS WITH NECESSARY SUPPLIES AND THERAPY THAT THEY COULD OTHERWISE NOT AFFORD. THE FOUNDATION ANNUALLY SUPPORTS THE JUNIOR WHEELCHAIR SPORTS CAMP, A DAY CAMP HELD AT USCB RECREATION CENTER. THE CAMP IS OFFERED FREE OF CHARGE TO YOUTH BETWEEN THE AGES OF 6 AND 19 WITH A WIDE RANGE OF PHYSICAL DISABILITIES. DUE TO COVID, DURING 2021 THIS HIGH DEMAND CAMP WAS OFFERED VIRTUALLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $279,467 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $279,467 |
| Total Program Service Revenue | $0 |
| Investment income | $390,154 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,267,538 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,937,159 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $103,752 |
| Grants and other assistance to domestic individuals. | $11,599 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $202,760 |
| Fees for services: Legal | $7,340 |
| Fees for services: Accounting | $33,910 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $94,989 |
| Fees for services: Other | $18,855 |
| Advertising and promotion | $0 |
| Office expenses | $1,016 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,055 |
| All other expenses | $4,134 |
| Total functional expenses | $610,946 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $932,964 |
| Savings and temporary cash investments | $932,280 |
| Pledges and grants receivable | $309,765 |
| Accounts receivable, net | $11,326 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $13,724,332 |
| Investments—other securities | $3,642,601 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,093,908 |
| Total assets | $25,647,176 |
| Accounts payable and accrued expenses | $89,082 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $89,082 |
| Net assets without donor restrictions | $11,530,297 |
| Net assets with donor restrictions | $14,027,797 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $25,647,176 |
Grants Awarded
Over the last fiscal year, Risb Foundation has awarded $315,530 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Santa Barbara, CA PURPOSE: Support of Capital and general operations | $300,030 |
Santa Barbara, CA PURPOSE: Support of service to brain injury patients | $15,500 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Risb Foundation has recieved totaling $31,700.
| Awarding Organization | Amount |
|---|---|
Lompoc Valley Community Healthcare Organization Lompoc, CA PURPOSE: Community Support | $21,700 |
Santa Barbara Foundation Santa Barbara, CA PURPOSE: HEALTH - GENERAL & REHABILITATIVE | $10,000 |
Endowment Analysis
| Beg. Balance | $7,640,435 |
| Earnings | $218,823 |
| Ending Balance | $7,859,258 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Teamsters Managed Health Care Trust Pleasanton, CA | $34,990,586 | $90,291,232 |
High Desert & Inland Employee- Employer Trust Apple Valley, CA | $8,134,571 | $74,305,229 |
Intel Retiree Medical Plan Tr Santa Clara, CA | $691,186,910 | $97,588,377 |
Saint Agnes Medical Foundation Fresno, CA | $14,742,009 | $46,818,162 |
Amalgamated Transit Union-Div 1277 Scrtd Health & Welfare Fund Los Angeles, CA | $65,023,279 | $80,787,185 |
Kaiser Health Plan Asset Management Inc Oakland, CA | $308,869,561 | $61,696,347 |
Baychildrens Physicians Emeryville, CA | $9,899,523 | $53,401,080 |
St Joseph Health System Foundation Irvine, CA | $143,290,236 | $11,443,697 |
Montage Health Monterey, CA | $1,194,971,781 | $24,934,735 |
Hoag Hospital Foundation Newport Beach, CA | $584,715,727 | $185,764,932 |
California Pacific Medical Center Foundation Sacramento, CA | $485,240,778 | $61,000,436 |
Childrens Health Council Inc Palo Alto, CA | $96,571,005 | $43,949,984 |