BAY COVE HUMAN SERVICES INC (EIN 042518575) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1973

Legal Domicile

Principal Officer

KEVIN MARTONE

Phone

6173713000

Tax Period

2024-07-01 to 2025-06-30

BAY COVE HUMAN SERVICES INC, founded in 1973, is a major nonprofit that reported $159.9M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. Expenses of $154.9M left a modest 3% surplus.

Mission

TO PROVIDE A FULL RANGE OF HUMAN SERVICES TO GREATER BOSTON RESIDENTS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $5,004,933

Program Service Revenue $151,007,459

Investment Income $834,932

Other Revenue $3,086,085

TOTAL REVENUE $159,933,409

Expense Breakdown

Grants Paid $0

Salaries & Benefits $118,903,835

Fundraising Expenses $1,299,260

Program Expenses $133,986,606

Other Expenses $35,964,335

TOTAL EXPENSES $154,868,170

Year-over-Year Comparison

	2024	2023	Change
Revenue	$159,933,409	$143,342,763	+0.1%
Expenses	$154,868,170	$143,251,718	+0.1%
Net Income	$5,065,239	$91,045	+54.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

2090

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,960,352

Total Directors

$213,857

Key Employees

$927,260

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KEVIN MARTONE	PRESIDENT & CEO (AS OF 3/18/25)	40.00	Officer Director	$0	$0	$0
AJAY CHADHA	VICE CHAIRPERSON	2.50	Officer Director	$0	$0	$0
ANNE LEVINE	DIRECTOR	1.00	Director	$0	$0	$0
BRUCE G GOODMAN ESQ	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER LENTO	DIRECTOR	1.00	Director	$0	$0	$0
EDDY DESIR	DIRECTOR	1.00	Director	$0	$0	$0
GREGORY BUSCONE	TREASURER	2.00	Officer Director	$0	$0	$0
JEAN MCGUIRE	DIRECTOR	1.00	Director	$0	$0	$0
LISA BLAKE	DIRECTOR	1.00	Director	$0	$0	$0
PETER A PEASE	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT J THOMAS	DIRECTOR	1.00	Director	$0	$0	$0
RUTH FISHBEIN	CHAIRPERSON	4.00	Officer Director	$0	$0	$0
SALLY THOMPSON	DIRECTOR	1.00	Director	$0	$0	$0
SETH DALY STENNIS	DIRECTOR	1.00	Director	$0	$0	$0
THOMAS J AITES	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM H SPRAGUE	PRESIDENT/CEO (THRU 3/18/25)	40.00	Officer Director	$213,857	$0	$213,857
WILLIAM M MAFFIE III	DIRECTOR	1.00	Director	$0	$0	$0
WILLIAM OAKLEY	DIRECTOR (AS OF 2/21/25)	1.00	Director	$0	$0	$0
ANNE RUSH	SVP & CHRO (AS OF 12/12/24)	40.00	Officer	$0	$0	$0
CARLEY LUBARSKY	SVP & CHIEF OPERATING OFFICER	40.00	Officer	$230,214	$25,213	$255,427
HEMA MAHASE	ASSISTANT CLERK	40.00	Officer	$82,475	$18,205	$100,680
JOELLE NIMS	CLERK	40.00	Officer	$91,880	$41,786	$133,666
JULIE CELANO	SVP & CHRO (THRU 10/2/24)	40.00	Officer	$191,005	$9,621	$200,626
KELLY LACAVA	SVP & CIO/CAO	40.00	Officer	$201,130	$47,452	$248,582
KERRY J OLLEN	INTERIM ASST TREASURER/CFO (AS OF 11/5/24)	40.00	Officer	$477,171	$3,449	$480,620
MARCEL VERNON	CFO, ASST. TREASURER (THRU 11/12/24)	40.00	Officer	$296,988	$29,906	$326,894
KEVIN COSTELLO	VP FINANCIAL OPERATIONS (THRU 11/12/24)	40.00	Key Emp	$154,769	$0	$154,769
KEVIN KERR	VP GENERAL COUNSEL	40.00	Key Emp	$161,151	$45,966	$207,117
ADEOLA ADEJINMI	CHIEF NURSING OFFICER	40.00	Key Emp	$166,193	$37,504	$203,697
LISA MORISHANTI	VP MH COMMUNITY SERVICES	40.00	Key Emp	$158,194	$22,384	$180,578
SARAH COOMBS	VP ADDICTION & HOMELESS	40.00	Key Emp	$152,046	$29,053	$181,099
ARLENE FORTUNATO	CHIEF DEVELOPMENT OFFICER	40.00	Highest	$199,646	$8,354	$208,000
MARY JO COOPER	VP DEVELOPMENTAL SERVICES	40.00	Highest	$244,176	$13,732	$257,908
MAURA STANTON	NURSE PRACTITIONER	40.00	Highest	$191,109	$26,561	$217,670
ROBERT DIENER	CMO, MEDICAL DIRECTOR	40.00	Highest	$314,311	$35,378	$349,689
ROSEL LEWIS	PSYCHIATRICT NURSE PRACTITIONER	40.00	Highest	$180,481	$17,720	$198,201
LOUIS JOSEPHSON	FORMER PRESIDENT & CEO	0.00		$472,097	$12,490	$484,587

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$159,933,409	$154,868,170	$81,940,230	$5,065,239
2024	No data	No data	No data	No data
2023	$144,896,476	$139,100,945	$77,916,140	$5,795,531
2022	$138,026,534	$132,622,013	$74,683,813	$5,404,521
2021	$126,196,963	$123,575,637	$73,611,314	$2,621,326
2020	$127,931,634	$126,338,150	$66,652,104	$1,593,484
2019	$123,993,168	$120,825,711	$58,705,392	$3,167,457
2019	$123,993,168	$120,825,711	$58,705,392	$3,167,457
2018	$107,227,305	$107,518,700	$51,134,401	$-291,395

BAY COVE HUMAN SERVICES INC