THE COVE CENTER INC

EIN: 050419116 501(c)(3) Human Services

PROVIDENCE, RI

Total Revenue
$13,972,845
Total Expenses
$13,279,621
Total Assets
$6,702,834
Net Assets
$5,048,160
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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
1985
Legal Domicile
RI
Principal Officer
GRACE TOE
Phone
4012746310
Tax Period
2024-07-01 to 2025-06-30

THE COVE CENTER INC, founded in 1985, is a mid-sized nonprofit in the Human Services sector that reported $14.0M in total revenue in fiscal year 2024. Expenses of $13.3M left a modest 5% surplus.

Mission

TO PROVIDE DAY AND RESIDENTIAL PROGRAMS FOR TREATMENT OF AUTISM AND OTHER DEVELOPMENTAL DISABILITIES TO CLIENTS WITHIN THE RHODE ISLAND AREA.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $22,659
Program Service Revenue $13,314,873
Investment Income $635,313
Other Revenue $0
TOTAL REVENUE $13,972,845

Expense Breakdown

Grants Paid $0
Salaries & Benefits $8,450,307
Fundraising Expenses $0
Program Expenses $12,379,031
Other Expenses $4,829,314
TOTAL EXPENSES $13,279,621

Year-over-Year Comparison

2024 2023 Change
Revenue $13,972,845 $13,557,532 +0.0%
Expenses $13,279,621 $13,001,226 +0.0%
Net Income $693,224 $556,306 +0.2%
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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Governance

Voting Members
8
Independent Members
7
Employees
171
Volunteers
1

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
4
$189,013
Total Directors
8
$3,037
Key Employees
0
$0
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JUNE GRODEN PHD BOARD MEMBER 1.00
Director
$0 $37 $3,037
HELEN MORCOS VICE PRESIDENT 1.00
Officer Director
$0 $0 $0
JENNIE TRIMBLE TREASURER/SECRETARY 1.00
Officer Director
$0 $0 $0
MELANIE CLULEY PRESIDENT 1.00
Officer Director
$0 $0 $0
PATRICK WENTZELL BOARD MEMBER 1.00
Director
$0 $0 $0
BRIAN BRODEUR BOARD MEMBER 1.00
Director
$0 $0 $0
RICHARD WOOD BOARD MEMBER 1.00
Director
$0 $0 $0
DR M SADDLEMIRE BOARD MEMBER AS OF JUNE 2025 1.00
Director
$0 $0 $0
MICHAEL PEARIS CEO 15.00
Officer
$0 $24,714 $189,013
BLOSSOM THOMAS-LEDLUM RESIDENTIAL SHIFT LEADER 74.00
Highest
$108,120 $13,450 $121,570
DENNIS QUEATEH DIRECT SUPPORT PROFESSIONA 71.00
Highest
$105,082 $1,348 $106,430
GRACE TOE CFO 40.00
Highest
$0 $24,397 $143,065
PATRICIA FISKE DIRECTOR 40.00
Highest
$81,940 $30,072 $170,073
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 $13,972,845 $13,279,621 $6,702,834 $693,224
2024 No data No data No data No data
2023 $11,609,361 $10,552,308 $5,791,222 $1,057,053
2022 $9,611,157 $9,319,588 $5,039,017 $291,569
2021 $9,611,664 $8,305,919 $3,675,059 $1,305,745
2020 $9,186,526 $9,084,306 $4,256,611 $102,220
2019 $8,919,318 $8,925,211 $2,663,034 $-5,893
2018 $8,684,301 $8,437,276 $2,880,636 $247,025
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