THE COVE CENTER INC

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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

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.

Program Service Accomplishments

Program 1

Expenses: $12,379,031 Revenue: $13,932,203

THERAPEUTIC VOCATIONAL AND DEVELOPMENTAL DAY AND RESIDENTIAL TREATMENT PROGRAM FOR PEOPLE AGED 21 AND OLDER WHO HAVE AUTISM AND OTHER PERVASIVE DEVELOPMENTAL DISABILITIES

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

Governance

Voting Members

Independent Members

Employees

171

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

$189,013

Total Directors

$3,037

Key Employees

Highest Compensated

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