Cove Behavioral Health Inc

EIN: 591514993 501(c)(3) Mental Health

Tampa, FL

Total Revenue
$21,922,575
Total Expenses
$22,754,986
Total Assets
$23,576,999
Net Assets
$13,154,906
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1973
Legal Domicile
FL
Principal Officer
Deanna S Obregon
Phone
8133844000
Tax Period
2024-07-01 to 2025-06-30

Cove Behavioral Health Inc, founded in 1973, is a mid-sized nonprofit in the Mental Health sector that reported $21.9M in total revenue in fiscal year 2024.

Mission

COVE BEHAVIORAL HEALTH SUPPORTS OUR COMMUNITY'S OVERALL WELLNESS BY PROVIDING ACCESSIBLE AND COMPASSIONATE BEHAVIORAL HEALTH CARE. COVE BEHAVIORAL HEALTH IS COMMITTED TO EXCELLENCE IN BEHAVIORAL HEALTH CARE AND TO BUILDING A SHARED VISION OF HOPE FOR A HEALTHIER COMMUNITY. AS A LARGE COMMUNITY BASED PROVIDER OF BEHAVIORAL HEALTH SERVICES, COVE SERVES OVER 35,000 PERSONS ANNUALLY THROUGH AWARD WINNING BEHAVIORAL HEALTH PREVENTION, INTERVENTION, AND TREATMENT PROGRAMS. COVE IS ACCREDITED BY THE NATIONALLY RECOGNIZED COMMISSION ON ACCREDITATION OF REHABILITATION FACILITIES (CARF). WE ARE COMMITTED TO BEING AN INCLUSIVE ORGANIZATION WHERE PEOPLE ARE TREATED FAIRLY AND RECOGNIZED FOR THEIR INDIVIDUALITY.EFFECTIVE JULY 1, 2025 (SUBSEQUENT TO YEAR END), COVE COMPLETED A MERGER WITH GRACEPOINT HEALTHCARE ("GRACEPOINT"). UNDER THE TERMS OF THE MERGER AGREEMENT, COVE AND ITS TWO WHOLLY-OWNED SUBSIDIARIES WERE CONSOLIDATED INTO GRACEPOINT AND ALL THE ORGANIZATION'S ASSETS, LIABILITIES, AND NET AS

Program Service Accomplishments

Program 1
Expenses: $9,979,254 Revenue: $9,262,894

OUTPATIENT TREATMENT - COVE HAS OUTPATIENT CLINICS IN BOTH TAMPA AND LAKELAND. COVE OFFERS BOTH EDUCATION AND CUSTOMIZED BEHAVIORAL HEALTH TREATMENT THROUGH INDIVIDUAL, GROUP, AND FAMILY COUNSELING...

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OUTPATIENT TREATMENT - COVE HAS OUTPATIENT CLINICS IN BOTH TAMPA AND LAKELAND. COVE OFFERS BOTH EDUCATION AND CUSTOMIZED BEHAVIORAL HEALTH TREATMENT THROUGH INDIVIDUAL, GROUP, AND FAMILY COUNSELING SESSIONS OFFERED DURING THE DAY OR EVENING IN PERSON OR VIA TELEHEALTH. OUTPATIENT SERVICES INCLUDES DAY TREATMENT, INTENSIVE OUTPATIENT, AND OUTPATIENT. DAY TREATMENT INCLUDES 12 HOURS OF SERVICES PER WEEK. PATIENTS FOLLOW A CLASSBASED SCHEDULE TO ENSURE THEIR CARE IS INDIVIDUALIZED TO BEST FIT THEIR NEEDS. INTENSIVE OUTPATIENT IS THE SECOND HIGHEST OUTPATIENT LEVEL OF CARE. IN INTENSIVE OUTPATIENT, PATIENTS ARE IN SERVICES FOR 9 HOURS PER WEEK. OUTPATIENT IS THE LOWEST LEVEL OF CARE WHERE PATIENTS ARE TYPICALLY IN SERVICES FOR 2 HOURS PER WEEK. OUTPATIENT SERVICES ARE PROVIDED AT OUR MAIN CAMPUS, OUR LAKELAND OFFICE, AND THROUGH TELEHEALTH. OUR TAMPA CLINIC SERVES YOUTH AGED 12-18 IN TRADITIONAL OUTPATIENT SERVICES. MEDICATION ASSISTED TREATMENT SERVICES PROVIDES TREATMENT TO INDIVIDUALS AGES 18+ WHO ARE ADDICTED TO EITHER PRESCRIPTION (OXYCONTIN, VICODIN, FENTANYL) OR STREET (HEROIN) OPIATE DRUGS AND NEED A BRIDGE BETWEEN ADDICTION AND SOBRIETY. WE PROVIDE THREE MEDICATION OPTIONS: METHADONE, SUBOXONE, OR VIVITROL. THESE MEDICATIONS PREVENT WITHDRAWAL SYMPTOMS, REDUCE THE RISK OF RELAPSE AND OVERDOSE, AND CONTROL CRAVINGS. IN ADDITION TO MEDICAL CARE, INDIVIDUALS RECEIVE COUNSELING TO TREAT THE SUBSTANCE USE DISORDER.

Program 2
Expenses: $7,978,234 Revenue: $8,271,953

RESIDENTIAL TREATMENT - COVE'S ADULT RESIDENTIAL TREATMENT PROVIDES OUR HIGHEST LEVEL OF CLINICAL INTERVENTION THROUGH TRAUMA INFORMED,GENDER SPECIFIC PROGRAMMING AVERAGING 4 TO 6 MONTHS IN DURATION...

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RESIDENTIAL TREATMENT - COVE'S ADULT RESIDENTIAL TREATMENT PROVIDES OUR HIGHEST LEVEL OF CLINICAL INTERVENTION THROUGH TRAUMA INFORMED,GENDER SPECIFIC PROGRAMMING AVERAGING 4 TO 6 MONTHS IN DURATION. TYPICAL PATIENTS ARE DEALING WITH SIGNIFICANT SUBSTANCE MISUSE AND/OR MENTAL HEALTH ISSUES. DURING THE TREATMENT EPISODE, WE ADDRESS MOST FACETS OF LIFE INCLUDING PARENTING, RELATIONSHIPS, COPING SKILLS,EMPLOYMENT, AND STRESS MANAGEMENT.

Program 3
Expenses: $1,305,741 Revenue: $1,405,370

PREVENTION SERVICES - PREVENTION SERVICES ARE DESIGNED TO HELP YOUTH DEVELOP A POSITIVE SELF-IMAGE,EFFECTIVE COPING SKILLS, SUBSTANCE USE REFUSAL SKILLS, SOCIAL SKILLS TO AVOID HIGH-RISK BEHAVIORS...

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PREVENTION SERVICES - PREVENTION SERVICES ARE DESIGNED TO HELP YOUTH DEVELOP A POSITIVE SELF-IMAGE,EFFECTIVE COPING SKILLS, SUBSTANCE USE REFUSAL SKILLS, SOCIAL SKILLS TO AVOID HIGH-RISK BEHAVIORS, AND EFFECTIVE INTERPERSONAL RELATIONSHIPS. ALL PREVENTION SERVICES ARE FREE OF CHARGE TO HILLSBOROUGH COUNTY RESIDENTS, AND COVE'S PROGRAMS SERVE THE MIDDLE AND HIGH SCHOOLS IN THE COUNTY. EXAMPLES OF CURRICULUMUTILIZED IN OUR PREVENTION PROGRAMS INCLUDE PROJECT SUCCESS, RXSMART, AND MENTAL WELLNESS BASICS. PROJECT SUCCESS IS AN EVIDENCEBASED CURRICULUM USED WITH MIDDLE AND HIGH SCHOOL STUDENTS IN INDIVIDUAL AND GROUP SETTINGS THAT ASSIST IN THE REVIEW OF ADOLESCENT DEVELOPMENT AND POSITIVE COPING SKILLS AND GOAL SETTING. COVE PARTNERED WITH AN EDUCATIONAL TECHNOLOGY COMPANY EVERFI TO PROVIDE RXSMART, AN INNOVATIVE DIGITAL COURSE THAT PROVIDES HIGH SCHOOLS STUDENTS WITH KNOWLEDGE AND TOOLS TO MAKE HEALTH, INFORMED DECISIONS WHEN IT COMES TO PRESCRIPTION MEDICATIONS. THROUGH A PARTNERSHIP WITH EVERFI, COVE OFFERS AN INTERACTIVE DIGITAL MENTAL WELLNESS BASICS COURSE THAT PROVIDES STUDENTS WITH KNOWLEDGE AND TOOLS TO ACHIEVE AND MAINTAIN POSITIVE MENTAL HEALTH NOW AND IN THE FUTURE.

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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 $17,807,507
Program Service Revenue $3,591,552
Investment Income $242,161
Other Revenue $281,355
TOTAL REVENUE $21,922,575

Expense Breakdown

Grants Paid $0
Salaries & Benefits $14,183,398
Fundraising Expenses $213,612
Program Expenses $19,263,229
Other Expenses $8,571,588
TOTAL EXPENSES $22,754,986

Year-over-Year Comparison

2024 2023 Change
Revenue $21,922,575 $22,324,968 0.0%
Expenses $22,754,986 $21,761,465 +0.0%
Net Income $-832,411 $563,503 -2.5%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
19
Independent Members
19
Employees
227
Volunteers
22

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
8
$613,653
Total Directors
19
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Deanna S Obregon CEO 40.00
Officer
$276,402 $39,450 $315,852
Venkateswarlu Muvva Medical Director 40.00
$296,561 $18,648 $315,209
Bryan Danzi Physician 40.00
$277,582 $30,956 $308,538
Alexander Sinu Physician 40.00
$248,077 $15,074 $263,151
Antoinette Hagley CCO 40.00
Officer
$169,231 $25,873 $195,104
Jane Dawson APRN 40.00
$146,415 $34,848 $181,263
Janet Ramos Clinical Op Admin 40.00
$107,391 $17,474 $124,865
Michael Neumann Former CFO 40.00
Officer
$102,500 $197 $102,697
Tammi Rattray Past President 1.00
Director
$0 $0 $0
Ginny McGucken Member 1.00
Director
$0 $0 $0
Rob Pariseau President 2.00
Officer Director
$0 $0 $0
Frank Losat 1st Vice Pres. 2.00
Officer Director
$0 $0 $0
Robert Williams Secretary 2.00
Officer Director
$0 $0 $0
Earl Horton Treasurer 2.00
Officer Director
$0 $0 $0
Peter Barrett Member 1.00
Director
$0 $0 $0
Jennifer Durham 2nd Vice Pres. 2.00
Officer Director
$0 $0 $0
Katie Glaser Member 1.00
Director
$0 $0 $0
Hiram Hampton Member 1.00
Director
$0 $0 $0
Sulaman Hemani Member 1.00
Director
$0 $0 $0
Holly Hills Member 1.00
Director
$0 $0 $0
Brad Johnson Member 1.00
Director
$0 $0 $0
H Tyson Lykes III Member 1.00
Director
$0 $0 $0
Guy Samuel Member 1.00
Director
$0 $0 $0
Rolando Sanchez Member 1.00
Director
$0 $0 $0
Charles Sansone Member 1.00
Director
$0 $0 $0
Donna Turner Member 1.00
Director
$0 $0 $0
Andrea White Member 1.00
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 $21,922,575 $22,754,986 $23,576,999 $-832,411
2024 $22,324,968 $21,761,465 $25,057,228 $563,503
2023 $21,117,049 $19,534,739 $24,693,536 $1,582,310
2022 $20,002,632 $18,555,912 $23,480,624 $1,446,720
2021 $21,471,090 $18,049,002 $22,183,565 $3,422,088
2020 $18,719,169 $19,667,710 $20,872,029 $-948,541
2019 $20,456,594 $20,438,522 $12,506,040 $18,072
2018 $20,984,568 $20,341,461 $20,432,361 $643,107
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