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Nonprofiteer
← CAREQUEST INSTITUTE FOR ORAL HEALTH

Form 990 for tax year 2024

Filed by CAREQUEST INSTITUTE FOR ORAL HEALTH.

Totals

Total revenue
$297,919,860
Total expenses
$42,726,066
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$4,503,745
Investment income
$293,416,115
Other revenue
$0
Total assets, end of year
$2,601,509,658
Total liabilities, end of year
$15,286,180
Net assets or fund balances, end of year
$2,586,223,478
Program services expenses (Part IX)
$24,484,143
Management and general expenses
$18,241,923
Fundraising expenses
$0
Program service expenses (Part III)
$24,484,143

Program services were 57.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: ASO ADMINISTRATIVE SERVICE

    total $4,503,745 · related or exempt $4,503,745 · unrelated business $0 · excluded $0

  • 2b · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2c · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2d · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2e · Program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $21,826,230 · related or exempt $0 · unrelated business $0 · excluded $21,826,230

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $0 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 7a · Gross sales of assets other than inventory

    securities $276,090,629 · other assets $0

  • 7b · Less cost or other basis and sales expenses

    securities $4,500,744 · other assets $0

  • 7c · Gain or loss

    securities $271,589,885 · other assets $0

  • 7d · Net gain or loss

    total $271,589,885 · related or exempt $0 · unrelated business $0 · excluded $271,589,885

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $1,064,167 · program services $638,500 · management and general $425,667 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $16,971,168 · program services $10,182,701 · management and general $6,788,467 · fundraising $0

  • 8 · Pension plan contributions

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $148,438 · program services $89,063 · management and general $59,375 · fundraising $0

  • 10 · Payroll taxes

    total $4,327,708 · program services $2,596,625 · management and general $1,731,083 · fundraising $0

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $156,397 · program services $0 · management and general $156,397 · fundraising $0

  • 11c · Fees: accounting

    total $253,012 · program services $0 · management and general $253,012 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $2,298,486 · program services $0 · management and general $2,298,486 · fundraising $0

  • 11g · Fees: other

    total $7,764,158 · program services $5,131,735 · management and general $2,632,423 · fundraising $0

  • 12 · Advertising and promotion

    total $2,132,354 · program services $1,279,412 · management and general $852,942 · fundraising $0

  • 13 · Office expenses

    total $149,059 · program services $89,435 · management and general $59,624 · fundraising $0

  • 14 · Information technology

    total $933,226 · program services $559,936 · management and general $373,290 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $307,250 · program services $184,350 · management and general $122,900 · fundraising $0

  • 17 · Travel

    total $1,154,812 · program services $692,887 · management and general $461,925 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $25,103 · program services $15,062 · management and general $10,041 · fundraising $0

  • 20 · Interest

    total $1,093,590 · program services $656,154 · management and general $437,436 · fundraising $0

  • 21 · Payments to affiliates

    total $726,023 · program services $435,614 · management and general $290,409 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $225,447 · program services $135,268 · management and general $90,179 · fundraising $0

  • 23 · Insurance

    total $358,581 · program services $215,149 · management and general $143,432 · fundraising $0

  • 24a · Other expenses: SUBSCRIPTIONS AND DUES

    total $1,273,255 · program services $763,953 · management and general $509,302 · fundraising $0

  • 24b · Other expenses: FEES AND OTHER

    total $739,536 · program services $443,721 · management and general $295,815 · fundraising $0

  • 24c · Other expenses: BOD EXPENSE

    total $410,796 · program services $246,478 · management and general $164,318 · fundraising $0

  • 24d · Other expenses: CHARITABLE DONATIONS

    total $213,500 · program services $128,100 · management and general $85,400 · fundraising $0

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $73,712,477 · end of year $47,942,900

  • 4 · Accounts receivable

    beginning of year $1,725,818 · end of year $4,882,888

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $216,956 · end of year $194,370

  • 10a · Land, buildings and equipment: cost or other basis

    $629,022

  • 10b · Land, buildings and equipment: accumulated depreciation

    $174,481

  • 10c · Land, buildings and equipment, net

    beginning of year $510,510 · end of year $454,541

  • 11 · Investments: publicly traded securities

    beginning of year $2,166,904,159 · end of year $2,447,484,773

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $598,458 · end of year $433,366

  • 15 · Other assets

    beginning of year $103,725,285 · end of year $100,116,820

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,108,673 · end of year $10,042,956

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $616,539 · end of year $5,243,224

  • 27 · Net assets without donor restrictions

    beginning of year $2,337,668,451 · end of year $2,586,223,478

Mission and programs · 2024

Mission

TO IMPROVE THE ORAL HEALTH OF ALL.

  • CAREQUEST INSTITUTE FOR ORAL HEALTH, INC. [FORMERLY CATALYST INSTITUTE,INC.] IS A MASSACHUSETTS NOT-FOR-PROFIT WITH A MISSION TO IMPROVE THE ORAL HEALTH OF ALL AND A VISION TO ACHIEVE PERSON-CENTERED HEALTH BY TRANSFORMING THE SYSTEMS OF POLICY, FINANCE, CARE, AND COMMUNITY. CAREQUEST INSTITUTE FOR ORAL HEALTH, INC. AND ITS SUBSIDIARIES' ACTIVITES INCLUDE, BUT ARE NOT LIMITED TO, SECURING DENTAL SERVICES FOR EMPLOYEE GROUPS, INDIVIDUALS AND THEIR FAMILIES; INCLUDING THE SAFETY NET POPULATIONS THROUGH MEDICARE, MEDICARE ADVANTAGE AND CHIP PROGRAMS; PROVIDING INNOVATIVE PRODUCTS AND SERVICES; FINANCE AND DEVELOP PROFESSIONAL AND SCIENTIFIC STUDY AND RESEARCH; AND EDUCATE THE PUBLIC CONCERNING THE IMPORTANCE OF ORAL HEALTH.

    Expenses $24,484,143 · Grants $1,183,100 · Revenue $4,503,745

As filed on the 2024 return.

Listed in Part VII

  • Pamela DA Reeve

    President [9/26/2024 - 12/31/2024] /Chair/Director

    Total calculated
    $163,855
    From this org
    $163,855
    From related orgs
    $0
    Other
    $0
    Hours/week
    35 + 5 related

    Schedule J breakdown matched by us

    Base
    $163,855
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $163,855

  • Andrew C Agwunobi MD

    Director

    Total calculated
    $113,617
    From this org
    $113,617
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.7 + 1.2 related

  • Evelyn H Miller

    Director

    Total calculated
    $119,574
    From this org
    $119,574
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.2 + 1 related

  • Jessica A Zeaske

    DIRECTOR

    Total calculated
    $108,024
    From this org
    $108,024
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.2 + 1.4 related

  • Kathleen V Betts

    DIRECTOR

    Total calculated
    $113,561
    From this org
    $113,561
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.2 + 1.4 related

  • Robert J Weyant DMD

    Director

    Total calculated
    $114,120
    From this org
    $114,120
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.1 + 0.5 related

  • Roderick K King MD

    Director

    Total calculated
    $114,647
    From this org
    $114,647
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.5 + 0.6 related

  • Todd W Marshall DDS

    Director

    Total calculated
    $108,647
    From this org
    $108,647
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.2 + 0.5 related

  • William C Mills III

    Director

    Total calculated
    $108,121
    From this org
    $108,121
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.3 + 0.5 related

  • Denise Marks

    Treasurer

    Total calculated
    $687,786
    From this org
    $625,584
    From related orgs
    $0
    Other
    $62,202
    Hours/week
    35 + 5 related

    Schedule J breakdown matched by us

    Base
    $447,663
    Bonus
    $177,921
    Other
    $0
    Deferred
    $13,800
    Nontaxable benefits
    $48,402
    Filer's total
    $687,786

  • Gregory P Winn

    Assistant Treasurer

    Total calculated
    $440,995
    From this org
    $379,191
    From related orgs
    $0
    Other
    $61,804
    Hours/week
    35 + 5 related

    Schedule J breakdown matched by us

    Base
    $300,846
    Bonus
    $78,345
    Other
    $0
    Deferred
    $13,800
    Nontaxable benefits
    $48,004
    Filer's total
    $440,995

  • Myechia Minter-Jordan MD MBA

    President [1/1/2024 - 7/20/2024]

    Total calculated
    $2,459,636
    From this org
    $2,419,674
    From related orgs
    $0
    Other
    $39,962
    Hours/week
    35 + 5 related

    Schedule J breakdown matched by us

    Base
    $1,020,485
    Bonus
    $439,189
    Other
    $960,000
    Deferred
    $13,800
    Nontaxable benefits
    $26,162
    Filer's total
    $2,459,636

  • Patricia Ma

    Clerk

    Total calculated
    $582,643
    From this org
    $566,634
    From related orgs
    $0
    Other
    $16,009
    Hours/week
    35 + 5 related

    Schedule J breakdown matched by us

    Base
    $416,401
    Bonus
    $150,233
    Other
    $0
    Deferred
    $13,800
    Nontaxable benefits
    $2,209
    Filer's total
    $582,643

  • Erik Montlack

    President - Delta Dental of Massachusetts

    Total calculated
    $1,020,626
    From this org
    $0
    From related orgs
    $970,625
    Other
    $50,001
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $491,067 related
    Bonus
    $0 + $479,558 related
    Other
    $0
    Deferred
    $0 + $13,800 related
    Nontaxable benefits
    $0 + $36,201 related
    Filer's total
    $0 + $1,020,626 related

  • Kirill Zaydeman

    VP, Product Strategy & Transformation - Delta Dental of Massachusetts

    Total calculated
    $497,586
    From this org
    $0
    From related orgs
    $457,514
    Other
    $40,072
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $332,825 related
    Bonus
    $0 + $124,689 related
    Other
    $0
    Deferred
    $0 + $10,240 related
    Nontaxable benefits
    $0 + $29,832 related
    Filer's total
    $0 + $497,586 related

  • Leslie Carver

    Chief Operating Officer, EVP

    Total calculated
    $533,719
    From this org
    $471,517
    From related orgs
    $0
    Other
    $62,202
    Hours/week
    35 + 5 related

    Schedule J breakdown matched by us

    Base
    $376,907
    Bonus
    $94,610
    Other
    $0
    Deferred
    $13,800
    Nontaxable benefits
    $48,402
    Filer's total
    $533,719

  • Maria Angela Wilkins

    VP, Underwriting & Data Analytics - Delta Dental of Massachusetts

    Total calculated
    $486,241
    From this org
    $0
    From related orgs
    $469,584
    Other
    $16,657
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $308,333 related
    Bonus
    $0 + $161,251 related
    Other
    $0
    Deferred
    $0 + $13,800 related
    Nontaxable benefits
    $0 + $2,857 related
    Filer's total
    $0 + $486,241 related

  • Mark Fecteau

    VP, Sales & Marketing - Delta Dental of Massachusetts

    Total calculated
    $482,815
    From this org
    $0
    From related orgs
    $419,027
    Other
    $63,788
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $349,027 related
    Bonus
    $0 + $70,000 related
    Other
    $0
    Deferred
    $0 + $13,800 related
    Nontaxable benefits
    $0 + $49,988 related
    Filer's total
    $0 + $482,815 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 7 · Other non-fixed payments

Answered no

  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Health or social club dues or initiation fees
SOCIAL CLUB DUES, IF ANY, ARE BUSINESS IN NATURE. BECAUSE THESE DUES ARE BUSINESS RELATED, ANY DUES ARE NOT TREATED AS TAXABLE INCOME TO THE INDIVIDUAL.
Schedule J, Part I, Line 4a Severance or change-of-control payment
MYECHIA MINTER-JORDAN RECEIVED SEVERANCE IN THE AMOUNT OF $960,000.
Schedule J, Part I, Line 7 Non Fixed Payments
NON-FIXED PAYMENTS: CAREQUEST PROVIDES ANNUAL INCENTIVE BONUSES TO MANAGEMENT EMPLOYEES THAT ARE CALCULATED BASED ON THE PERFORMANCE OF THE COMPANY AND THE INDIVIDUAL EMPLOYEE. THE PROCESS TO ESTABLISH THE PRESUMPTION THAT COMPENSATION PAID TO THE ORGANIZATION'S CEO AND OTHER TOP MANAGEMENT WAS REASONABLE AS DESCRIBED IN SECTION 4958. THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS APPROVES THE OVERALL ANNUAL INCENTIVE BONUS POOL AND REVIEWS AND APPROVES COMPENSATION RELEVANT TO EXECUTIVE OFFICERS REPORTING TO CAREQUEST'S CEO. THE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS AND MAKES RECOMMENDATIONS TO THE BOARD OF DIRECTORS ON COMPENSATION MATTERS FOR THE COMPANY'S CEO. THE BOARD OF DIRECTORS APPROVES THE COMPENSATION OF CAREQUEST'S CEO.
Schedule J, Part II
COMPENSATION PAID BY RELATED ORGANIZATION: SCHEDULE J, PART II INCLUDES INDIVIDUALS THAT ARE PAID BY DENTAL SERVICE OF MASSACHUSETTS, INC., A RELATED ORGANIZATION, BUT PERFORMED SERVICES FOR BOTH CAREQUEST INSTITUTE FOR ORAL HEALTH, INC. AND DENTAL SERVICE OF MASSACHUSETTS, INC. AS REPORTED IN PART VI, SECTION A, COLUMM (B), NONE OF THESE INDIVIDUALS DEVOTES MORE THAN 5.0 HOURS PER WEEK TO CAREQUEST INSTITUTE FOR ORAL HEALTH, INC. ADDITIONALLY, ALL THE BONUS COMPENSATION REPORTED IN PART II IS PAID BY EACH OF THE RESPECTIVE ORGANIZATIONS MENTIONED ABOVE.
Schedule J, Part II, Column (B)(ii) BONUS PAYMENTS
COLUMN B (II) ON SCHEDULE J PART II INCLUDES BONUSES EARNED AND ACCRUED DURING 2023 BUT PAID IN 2024.
Schedule J, Part II, Column (C) DEFERRED COMPENSATION
COLUMN C ON SCHEDULE J PART II INCLUDES 401K MATCH DOLLAR AMOUNTS AS PAID BY CAREQUEST INSTITUTE FOR ORAL HEALTH, INC. AND ITS RELATED ORGANIZATION DENTAL SERVICE OF MASSACHUSETTS, INC.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • DSM Investments Inc

    C Corporation · Dental Service · MA · 100% owned · share of income $0 · controlled entity

    Directly controlled by DSM

  • DSM Insurance Services Inc

    C Corporation · Insurance · MA · 100% owned · controlled entity

    Directly controlled by DSM Investments Inc

  • DSM Massachusetts Insurance Company Inc

    C Corporation · Insurance · MA · 100% owned · controlled entity

    Directly controlled by DSM Investments Inc

  • CareQuest Innovation Partners Inc

    C Corporation · Oral Health Improvement · DE · 100% owned · controlled entity

    Directly controlled by CareQuest

Provenance

Return type
form_990
Tax year
2024
Filed
18 November 2025
IRS schema version
2024v5.1
Source object
202503219349324040

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