The Cove Guest Home Foundation was formed in 1996, sparked by a $1,000,000 capital campaign for new equipment and seed money for an Assisted Living complex. The Foundation's mandate is to raise funds for new Cove projects, equipment and programs for seniors. The foundation does not provide funding for the day-to-day operations of the Cove.

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Since the beginning, the Cove Foundation has established a number of exciting ways to assist the building fund.

Along with the capital campaign, there is the Annual Appeal and special events such as the Cove Annual Dinner & Gala, the Festival of Lights and the Cove Car Lottery.