2025-11-11T16:43:58-06:00 2024-12-31 952835976 MACFARLANE FALETTI & CO LLP 3757 STATE STREET SUITE 3B SANTA BARBARA CA 93105 990 2024-01-01 951770027 LAGUNA COTTAGES FOR SENIORS LAGU 8059651179 803 LAGUNA STREET SANTA BARBARA CA 93101 CHRISTINA SONGER EXECUTIVE DIRECTOR 8059651179 2025-11-10 1 0 VANESSA M GARCIA P01255292 8059664157 2025-11-10 2024 2025-03-06 01:10:19Z CHRISTINA SONGER 803 LAGUNA STREET SANTA BARBARA CA 93101 1067608 0 X WWW.LAGUNACOTTAGESFORSENIORS.ORG X 1953 CA THE MISSION OF LAGUNA COTTAGES IS TO PROVIDE AFFORDABLE RENTAL HOUSING FOR LOW INCOME SENIORS, AGE 65 AND OLDER. RESIDENTS PAY RENT AT THE RATE OF 30% OF THEIR INCOME. RENTS ARE RECALCULATED ANNUALLY BY REVIEW OF EACH RESIDENT'S INCOME FOR THE PAST YEAR. LAGUNA COTTAGES HAS FIFTY FIVE UNITS, WITH FIFTY EIGHT CURRENT RESIDENTS. 13 13 5 14 0 0 27644 36463 455552 457159 133613 95195 0 0 616809 588817 0 0 0 0 143912 174896 0 0 11839 510765 516661 654677 691557 -37868 -102740 6497971 6636285 19719 17973 6478252 6618312 X SEE SCHEDULE O. 0 0 576231 457159 LAGUNA COTTAGES MANAGES AND MAINTAINS LOW COST HOUSING UNITS WHICH ARE RENTED TO LOW INCOME SENIOR CITIZENS. THESE EXPENSES INCLUDE MAINTENANCE OF UNITS, UTILITIES, GARDENING, MANAGEMENT, AND SOME SOCIAL EVENTS FOR RESIDENTS. 576231 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 15 0 1 5 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 0 1 1 1 0 CA X CHRISTINA SONGER EXECUTIVE DIRECTOR 8059651179 803 LAGUNA STREET SANTA BARBARA CA 93101 SUSANNE WOOD PRESIDENT 2.00 X X 0 0 0 CHERYL JOHNSON VICE PRESIDENT 2.00 X X 0 0 0 NORA TAUGHER TREASURER 2.00 X X 0 0 0 CARA DE AMICIS SECRETARY 2.00 X X 0 0 0 LUCINDA ABBOTT BOARD MEMBER 1.00 X 0 0 0 BARBARA B ALLEN BOARD MEMBER 1.00 X 0 0 0 PATTY GONZALEZ BOARD MEMBER 1.00 X 0 0 0 MARSHA MESSMORE BOARD MEMBER 1.00 X 0 0 0 GAIL PERSOON BOARD MEMBER 1.00 X 0 0 0 SHELLEY RICHARD BOARD MEMBER 1.00 X 0 0 0 SUSAN SCHMIDT BOARD MEMBER 1.00 X 0 0 0 APRIL THEDE BOARD MEMBER 1.00 X 0 0 0 JERI WAITE FORMER BOARD MEMBER 1.00 X 0 0 0 VICKI JOHNSON BOARD MEMBER 1.00 X 0 0 0 CHRISTINA SONGER EXECUTIVE DIRECTOR 40.00 X 115858 0 10999 115858 0 10999 1 0 0 0 0 36463 36463 LOW COST RENT 531110 457159 457159 457159 139928 139928 434058 478791 -44733 -44733 -44733 588817 457159 0 95195 126857 117922 6343 2592 36001 33841 2160 12038 11224 630 184 18757 18757 16532 16532 36464 36464 75 75 4535 3877 210 448 203403 193558 6563 3282 183376 169623 9169 4584 35060 27727 6584 749 SUPPLIES AND REPLACEMEN 12655 12655 RESIDENT EVENTS AND SUP 5804 5804 691557 576231 103487 11839 80321 86525 5396 6895 6216396 3777135 2520334 2439261 3891920 4103604 6497971 6636285 19615 14730 104 3243 19719 17973 X 5412691 5468940 1065561 1149372 6478252 6618312 6497971 6636285 -102740 242800 0 X 1 X 0 1 0 X 14993 25210 34317 27644 36463 138627 367233 399099 424766 455552 457159 2103809 382226 424309 459083 483196 493622 2242436 9000 9000 113580 123474 120929 131090 159068 648141 113580 123474 120929 131090 168068 657141 1585295 78648 116282 129531 133613 139928 598002 78648 116282 129531 133613 139928 598002 460874 540591 588614 616809 633550 2840438 0.55810 0.56900 0.21050 0.20690 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1065561 200 83611 1149372 984085 600 111170 30294 1065561 1136225 700 -123820 29020 984085 1026964 300 134365 25404 1136225 986003 2300 82466 43805 1026964 0.66670 0.33330 0 0 639341 639341 5375375 3593904 1781471 42433 38291 4142 159247 144940 14307 2439261 RENTS PAID IN ADVANCE 3243 3243 X PART V, LINE 4: THE LAGUNA COTTAGES FOR SENIORS ENDOWMENT IS USED FOR OPERATING AND MAINTENANCE OF THE FACILITY. THE APPROXIMATELY 30% OF THE RESIDENT'S INCOME CHARGED FOR RENT DOES NOT COVER ALL THE COSTS OF OPERATING AND THEREFORE THE ENDOWMENT HELPS TO SUBSIDIZE THOSE COSTS. PART X, LINE 2: THE ORGANIZATION QUALIFIES AS A NOT-FOR-PROFIT CORPORATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE CALIFORNIA REVENUE AND TAXATION CODE 23701D AND, THEREFORE, IS ONLY SUBJECT TO INCOME TAX ON UNRELATED BUSINESS INCOME. THE ORGANIZATION IS NOT CONSIDERED A PRIVATE FOUNDATION. THE ORGANIZATION IS NOT AWARE OF ANY UNCERTAIN TAX POSITIONS AT DECEMBER 31, 2024, OR FOR ANY YEAR FOR WHICH THE STATUTE IS OPEN. THE ORGANIZATION'S RETURNS ARE SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES, GENERALLY FOR THREE AND FOUR YEARS, RESPECTIVELY, AFTER THEY ARE FILED. FORM 990, PART III, LINE 1 - ORGANIZATION'S MISSION THE MISSION OF LAGUNA COTTAGES IS TO PROVIDE AFFORDABLE RENTAL HOUSING FOR LOW INCOME SENIORS, AGE 65 AND OLDER. RESIDENTS PAY RENT AT THE RATE OF 30% OF THEIR INCOME. RENTS ARE RECALCULATED ANNUALLY BY REVIEW OF EACH RESIDENT'S INCOME FOR THE PAST YEAR. LAGUNA COTTAGES HAS FIFTY FIVE UNITS, WITH FIFTY EIGHT CURRENT RESIDENTS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BODY OF THE ORGANIZATION IS ITS BOARD OF DIRECTORS, CURRENTLY CONSISTING OF 13 MEMBERS. THE BYLAWS PROVIDE THAT NEW BOARD MEMBERS ARE ELECTED BY A MAJORITY VOTE OF THE ENTIRE BOARD. A QUORUM OF A MAJORITY OF THE BOARD MEMBERS IS REQUIRED FOR ALL BOARD ACTIONS. THE BOARD OF DIRECTORS SHOULD HAVE A MINIMUM OF 12 AND A MAXIMUM OF 16 PERSONS. FORM 990, PART VI, SECTION B, LINE 11B THE REVIEW PROCESS IS A. TO RECEIVE THE CPA REVIEWED YEAR END FINANCIAL STATEMENTS. FINANCE COMMITTEE TO REVIEW AND APPROVE THE REVIEWED FINANCIAL STATEMENTS. B. TO RECEIVE THE DRAFT OF THE FORM 990. FINANCE COMMITTEE TO REVIEW AND APPROVE. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION PROVIDES A COPY OF POLICIES, INCLUDING CONFLICT OF INTEREST, TO ALL BOARD MEMBERS ON AN ANNUAL BASIS AND REQUIRES DISCLOSURE OF ANY POTENTIAL CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 THE LAGUNA BOARD OF DIRECTORS HAS A PERSONNEL COMMITTEE, THAT YEARLY REVIEWS THE STAFF SALARIES. THERE IS ONLY ONE FULL TIME STAFF MEMBER AT THIS TIME, THE EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND OPERATION POLICIES ARE KEPT IN A BINDER IN THE ORGANIZATION'S MAIN OFFICE. THESE ARE AVAILABLE FOR REVIEW UPON REQUEST. THE MONTHLY FINANCIAL STATEMENTS AND CPA REVIEWED YEAR END STATEMENTS ARE KEPT IN A BINDER IN THE ORGANIZATION'S MAIN OFFICE, THESE ARE AVAILABLE FOR THE REVIEW UPON REQUEST. THE POLICIES ARE WRITTEN AS PART OF THE ORGANIZATION'S ACCOUNTING POLICIES AND PROCEDURES, AVAILABLE IN THE ORGANIZATION'S MAIN OFFICE.