The Friends of Osuna have had a lot of questions lately – one of them being about its financial state of affairs. So we went to our Association Treasurer Phil Trubey. Turns out things are not as dire as first reported. Here are the financial facts as stated on the RSFA tax records.
- Osuna has $255K in its unrestricted operating account for maintenance and new capital projects.
- Osuna Ranch owes $72K to the Replacement Reserve payments (deferred one year) which will pay off Osuna’s share of the PPP loan.
- We have a Replacement Reserve Fund of $450K for replacement capital items such as fencing, footings, and barns.
- Osuna has generated $99K in profit for the first nine months of the fiscal year.
- If next year’s profit is equal to last year’s, Osuna will have an additional $250K to spend on maintenance and new capital expenditures between now and June 2026.
- The total amount of funds available to maintain and improve Osuna is $700K
- The Association’s 2024 IRS 990 form filed for Osuna showed a profit of $289,480.
The surprising piece of information was the $3 million figure bandied about to fix up Osuna. Turns out this was not based on contractor bids on building out the Master Plan, but rather a rough estimation by a Board director. Renovations based on the Master Plan will happen in phases as monies are available, but such a steep investment is not immediately necessary. As the numbers show, Osuna Ranch has monies available to make repairs, additions, and the current Osuna Committee is spearheading the effort. More importantly, Osuna is a profitable, enjoyable, real estate asset that by some agents’ estimation is worth $28M – having doubled since its acquisition in 2006.
Over the two Sundays in April, Osuna Ranch opened its gates for visitors and tours. About 100 neighbors, family, and friends from our community, learned and shared in the love of Osuna, its history, the Adobe, the trails, the horses, the dogs, and the true meaning of one of our founding pillars of life in Rancho Santa Fe – the equestrian community.
Osuna’s GM and volunteer Osuna Ranch Committee are dedicated to expanding and exploring all kinds of events to involve and benefit every Covenant family member. In fact, we welcome your input at the upcoming meetings. Please mark your calendars and plan to attend!
May 8th – 10:00 am Annual Board Meeting at the RSFA Offices
May 8th – 5:00 pm Meet the Candidates at the RSFA Golf Clubhouse
May 15th – 10:00 am Special RSFA Board/Osuna Ranch Committee Meeting
Remember the Osuna Ranch is yours! You are welcome to walk the grounds, or visit on your own Tuesday – Sunday, from 8:30 am to one hour before sunset. Remember to keep the pups on leash and talk to the team before petting horses. It’s 24 acres of wellness, open spaces, open hearts and beautiful horses.
Follow us on Instagram @friends_of_osuna_ranch. For questions or input regarding Osuna, contact Annie Finch at (323) 314-6651, or email at afinch767@gmail.com.
Annie Finch is a Covenant member and created/edits the Friends of Osuna social media sites and newsletter.