Faulding Hotel INC FY2022 filing

Santa Barbara, CA · Public charity (501(c)(3)) · Housing

✓ Tax-deductible
Revenue
$932K
+5% vs prior year
Spent
$1.1M
To programs
97%
Net assets
−$3.2M
By yearFY2020–FY2024
Revenue
$932K
FY2022▲ +5%
Revenue by fiscal year
FY2020$927K
FY2021$889K
FY2022$932K
FY2023$981K
FY2024$1.0M
Expenses
$1.1M
FY2022▲ +12%
Expenses by fiscal year
FY2020$1.0M
FY2021$997K
FY2022$1.1M
FY2023$1.2M
FY2024$1.2M
Net assets
−$3.2M
FY2022▼ -6%
Net assets by fiscal year
FY2020−$2.9M
FY2021−$3.0M
FY2022−$3.2M
FY2023−$3.3M
FY2024−$3.5M

From the FY2022 Form 990 · see the original

You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CFaulding Hotel INC
EINHdr · item D77-0197146
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFJan 1990
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CSanta Barbara, CA
NTEE classificationIRS BMFHousing (L20Z)

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.97 Management & general $0.03
Program services97%$1.1M
Management & general3%$28K
Total functional expensesLn 25$1.1M

Financial health

Is it on solid ground?

Program efficiency
97%
of spending reaches programs
Operating runway
1.3mo
months of highly liquid reserves at operating expense rate
Surplus margin
-20%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Total assets
$1.2M
FY2022▼ -9%
Total assets by fiscal year
FY2020$1.5M
FY2021$1.3M
FY2022$1.2M
FY2023$1.1M
FY2024$1.1M
Total liabilities
$4.3M
FY2022▲ +2%
Total liabilities by fiscal year
FY2020$4.4M
FY2021$4.3M
FY2022$4.3M
FY2023$4.4M
FY2024$4.7M
Revenue less expensesPt I · Ln 19−$189K
Total assetsPt X · Ln 16$1.2M
Program-expense ratioPt IX · col B97%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47

Balance Sheet

Part X · end of year
CashLn 1$126K
Total assetsLn 16$1.2M
Total liabilitiesLn 26$4.3M
Total net assetsLn 32−$3.2M
Months of cash on handcomputed1.3

Statement of Revenue

Part VIII
Program service revenue$841K · 90%
Other revenue$68K · 7%
Contributions & grants$22K · 2%
Program service revenue90%$841K
Other revenue7%$68K
Contributions & grants2%$22K
Investment income$717
— government grantsLn 1e$17K
Total revenueLn 12$932K

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $126K · Operating expenses/yr $1.1M
1.3 months
Where the money goes
Program services
Program services $1.1M · Total expenses $1.1M
97%
Management & General
Management & general $28K · Total expenses $1.1M
3%
Fundraising
Fundraising $0 · Total expenses $1.1M
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $3K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $22K · Total revenue $932K
2%
Government reliance
Government grants $17K · Total revenue $932K
2%
Earned-income share
Program service revenue $841K · Total revenue $932K
90%
Investment reliance
Investment income $717 · Total revenue $932K
+0.08%
Program self-sufficiency
Program service revenue $841K · Total expenses $1.1M
75%
Growth & trend
Revenue growth (YoY)
This year $932K · Prior year $889K
+5%
Net-asset trend (YoY)
End of year −$3.2M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $932K · Expenses $1.1M
-20%
Liabilities-to-Assets
Total liabilities — · Total assets $1.2M
—
Net-asset ratio
Net assets −$3.2M · Total assets $1.2M
-265%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $1.2M
0%
People & payroll
Highest Reported Total Compensation
Individual Cindy Young · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $0 · Total expenses $1.1M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $274K · Total expenses $1.1M
24%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 97%——
Overhead ratio 3%——
Fundraising cost ratio 0%——
Revenue growth 5%——
Investment management fee ratio 0%——
Legal fee ratio 0.09%——
Accounting fee ratio 0.8%——
Fundraising fee ratio 0%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
See Faulding Hotel INC executive salaries →

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Governance & Policies

Part VI
  • 7Voting board membersPt VI · Ln 1a
  • 7Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Purchases and redevelops housing for low-to-moderate income individuals.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

1 program service account for $1.1M of program spending, described in the organization's own filed words · FY2022.
01

Operation and maintenance of an 81 room residence located in santa barbara, california which serves persons of low to moderate income.

$1.1Mprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2019
Total grants receivedfrom 1 funder$15K

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 Latest $1.0M$1.2M+2% 990 PDF
FY2023 $981K$1.2M+5% 990 PDF
FY2022 Viewing $932K$1.1M+5% 990 PDF
FY2021 $889K$997K-4% 990 PDF
FY2020 $927K$1.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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