OCEAN MENTAL HEALTH SERVICES INC B… - Form 990 Financial Data

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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

1959

Legal Domicile

Principal Officer

KIMBERLY VEITH LCSW

Phone

7322694849

Tax Period

2024-07-01 to 2025-06-30

OCEAN MENTAL HEALTH SERVICES INC BRIGHT HARBOR HEALTHCARE, founded in 1959, is a mid-sized nonprofit in the Mental Health sector that reported $32.0M in total revenue in fiscal year 2024.

Mission

MENTAL HEALTH CARE SERVICES

Program Service Accomplishments

Program 1

Expenses: $28,853,185 Revenue: $17,651,223

TO PROVIDE VARIOUS TYPES OF MENTAL HEALTH CARE SERVICES THROUGHOUT OCEAN COUNTY, NEW JERSEY. THESE SERVICES INCLUDE, BUT ARE NOT LIMITED TO, DIAGNOSIS, PSYCHOLOGICAL EVALUATION, PSYCHOTHERAPY...

TO PROVIDE VARIOUS TYPES OF MENTAL HEALTH CARE SERVICES THROUGHOUT OCEAN COUNTY, NEW JERSEY. THESE SERVICES INCLUDE, BUT ARE NOT LIMITED TO, DIAGNOSIS, PSYCHOLOGICAL EVALUATION, PSYCHOTHERAPY, REHABILITATION, ETC.

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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 $14,723,314

Program Service Revenue $17,088,710

Investment Income $133,972

Other Revenue $93,907

TOTAL REVENUE $32,039,903

Expense Breakdown

Grants Paid $0

Salaries & Benefits $24,890,919

Fundraising Expenses $0

Program Expenses $28,853,185

Other Expenses $6,895,068

TOTAL EXPENSES $31,785,987

Year-over-Year Comparison

	2024	2023	Change
Revenue	$32,039,903	$31,390,699	+0.0%
Expenses	$31,785,987	$31,412,661	+0.0%
Net Income	$253,916	$-21,962	-12.6%

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

481

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

$520,895

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RENUKA TANK	PSYCHIATRIST	35.00	Highest	$357,851	$40,609	$398,460
KIMBERLY VEITH LCSW	CEO	35.00	Officer	$249,430	$42,001	$291,431
LAMBERTO TAN	PSYCHIATRIST	35.00	Highest	$204,714	$26,356	$231,070
THOMAS TRAGESER	CFO	35.00	Officer	$197,584	$31,880	$229,464
KATHY GREENE	SECRETARY; D	35.00	Highest	$202,974	$26,287	$229,261
JOSEPH KOSZYK	APN	40.00	Highest	$137,880	$29,149	$167,029
BAHIYYAH ABDULLAH	PRESIDENT	0.50	Officer Director	$0	$0	$0
ARTHUR BAILEY	TRUSTEE	0.50	Director	$0	$0	$0
PATRICIA CASH	TRUSTEE	0.50	Director	$0	$0	$0
LISA FERRARO	TRUSTEE	0.50	Director	$0	$0	$0
SHIRLEY GILES	TRUSTEE	0.50	Director	$0	$0	$0
EDWARD HLAVACH	TRUSTEE	0.50	Director	$0	$0	$0
ARNOLD WILLIAMS MD	TREASURER	0.50	Director	$0	$0	$0
BARBARA MILES	VICE PRESIDE	0.50	Officer Director	$0	$0	$0
ROCCO NOVELLINO	TRUSTEE	0.50	Director	$0	$0	$0
SYLVIA STARK PSD	SECRETARY	0.50	Director	$0	$0	$0
MICHAEL SCHRADER	TRUSTEE	0.50	Director	$0	$0	$0
JOHN VOWTERAS	TRUSTEE	0.50	Director	$0	$0	$0
MICHAEL YORK	TRUSTEE	0.50	Director	$0	$0	$0

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	$32,039,903	$31,785,987	$19,134,864	$253,916
2024	$31,390,699	$31,400,655	$19,115,313	$-9,956
2023	$31,352,902	$30,984,280	$19,023,518	$368,622
2022	$30,602,511	$27,649,086	$16,921,182	$2,953,425
2021	$24,743,205	$25,455,137	$14,109,484	$-711,932
2020	$24,995,061	$24,919,102	$14,048,060	$75,959
2019	$23,405,399	$23,395,390	$11,559,893	$10,009
2018	$21,794,930	$21,221,131	$10,384,764	$573,799

OCEAN MENTAL HEALTH SERVICES INC BRIGHT HARBOR HEALTHCARE