At Qsource, our mission is to serve healthcare communities by driving value, improving quality and providing innovative business solutions.

501(c)(3) charity; gifts are tax-deductible.
70¢ of each $1 spent went to programs.
$1.7M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $269K a year · 2% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
70%
of spending
Fine: 70% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.7M
to officers and key staff · 11% of spending
Looks good: pay to officers and key staff is 11% of spending; 15% or less.
Pt VII · Sec A
3 mo
of spending, in cash
Plus $25.2M in investments, Pt X · Ln 11–13
Looks good: 3.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $18K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$674K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$15.5M
+10% vs prior year
Spent
$14.8M
To programs
70%
Net assets
$30.7M
By yearFY2020–FY2025
Revenue
$15.5M
FY2024▲ +10%
Tap a bar for its year
Revenue by fiscal year
FY2020$14.8M
FY2021$12.1M
FY2022$12.6M
FY2023$14.2M
FY2024$15.5M
FY2025$11.3M
Expenses
$14.8M
FY2024▲ +11%
Tap a bar for its year
Expenses by fiscal year
FY2020$14.8M
FY2021$10.9M
FY2022$12.8M
FY2023$13.4M
FY2024$14.8M
FY2025$12.1M
Net assets
$30.7M
FY2024▲ +9%
Tap a bar for its year
Net assets by fiscal year
FY2020$26.5M
FY2021$30.5M
FY2022$26.8M
FY2023$28.2M
FY2024$30.7M
FY2025$30.0M

From the FY2024 Form 990 (year ending July 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1974.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

70 cents of each dollar spent went to programs.

Program services 70% · $10.4M Management & general 30% · $4.4M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

21 people listed on the 990; $1.7M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$439,161Pt VII · Sec A
VP Corporate Services & Compliance
$192,182Pt VII · Sec A
Information Technologies Director
$183,235Pt VII · Sec A
Eqro Project Manager
$169,956Pt VII · Sec A
$165,936Pt VII · Sec A
Task Order Director
$159,902Pt VII · Sec A
VP Operations
$158,252Pt VII · Sec A
VP of Finance
$145,625Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Dawn Fitzgerald——$389,434$493,585$340,245$407,108
Mary Lyn Baldauf$476,689$439,161————
Benjamin S Heavrin——$382,288———
Nancy C Archer——$250,476———
Benjamin Heavrin———$249,824$213,540$142,765
Craig Hofer————$193,357$217,612
Denise Gee$208,689$192,182————
Cheryl Masella$207,604$145,625————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Qsource executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Improves healthcare quality and value with innovative business solutions.

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Provided by the organization

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3 programs · $9.9M · in their own filed words · FY2023
01

Qsource works with healthcare communities in the state of indiana to improve the quality of healthcare by assisting providers in measuring and reporting quality, producing and using electronic clinical imformation, redesigning care processes, and transforming organizational culture to accelerate quality improvement and broaden its…

$4.3Mprogram expense
02

Qsource provides the State of Tennessee Department of Finance and Administration with an independent, external review of the quality of services available to TennCare enrollees.

$3.3Mprogram expense
03

Qsource oversees and improves the quality of care delivered to end-stage renal disease patients through the development and execution of quality improvement programs & interventions, the collection and analysis of outcomes data, and the provision of technical assistance to patients and providers of dialysis and kidney transplantation…

$2.2Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2020
Total grants receivedfrom 1 funder$18K
Grants paid · 20 grants · $300K · 2019–2024
See all 20 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$15.5M
Ln 12
Gifts and grantsLn 1h$8.6M
Fees for servicesLn 2g$5.8M
Investment incomeLn 3$1.2M
Money outPt IX
$14.8M
Ln 25
Programscol B$10.4M
Managementcol C$4.4M
Owns and owesPt X
$30.7M
net assets · Ln 32
Cash and savingsLn 1–2$4.2M
Total assetsLn 16$31.3M
LiabilitiesLn 26$674K
PeoplePt VI, VII
21
listed · VII A
PaidVII A19
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$8.6M
Government grantsLn 1e$8.6M
Fees for servicesLn 2g$5.8M
Investment incomeLn 3$1.2M
Gains on assetsLn 7$566K
Total revenueLn 12$15.5M
Assets in detailPt X, end of year
CashLn 1$3.9M
SavingsLn 2$324K
Cash and savings togetherLn 1–2$4.2M
InvestmentsLn 11–13$25.2M
Land, buildings, equipmentLn 10c$246K
Other assetsLn 15$139K
Total assetsLn 16$31.3M
LiabilitiesLn 26$674K
Net assetsLn 32$30.7M
OperationsPt I, VI
EmployeesI 5101
VolunteersI 60
Fiscal year endsHeaderJuly
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$4.3M$4.2M
InvestmentsLn 11–13$22.3M$25.2M
Land, buildings, equipmentLn 10c$185K$246K
Total assetsLn 16$29.1M$31.3M
LiabilitiesLn 26$949K$674K
Net assetsLn 32$28.2M$30.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$978K$978K
Other salaries and wagesLn 7$6.5M$5.4M$1.1M
Pension plan contributionsLn 8$262K$191K$71K
Other employee benefitsLn 9$1.8M$1.3M$482K
Payroll taxesLn 10$617K$449K$168K
Legal feesLn 11b$98K$98K
Accounting feesLn 11c$155K$155K
Investment management feesLn 11f$126K$126K
Other fees for servicesLn 11g$0$0$0$0
Advertising and promotionLn 12$15K$15K
Office expensesLn 13$1.7M$1.2M$561K
OccupancyLn 16$226K$226K
TravelLn 17$324K$237K$87K
Conferences, conventions and meetingsLn 19$38K$38K
Depreciation, depletion and amortizationLn 22$68K$68K
InsuranceLn 23$58K$58K
Other expenses (24a–d)Ln 24$1.8M$1.6M$205K
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$14.8M$10.4M$4.4M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $11.3M$12.1M−$721K$30.0M 990 PDF
FY2024 Viewing $15.5M$14.8M$679K$30.7M 990 PDF
FY2023 $14.2M$13.4M$723K$28.2M 990 PDF
FY2022 $12.6M$12.8M−$209K$26.8M 990 PDF
FY2021 $12.1M$10.9M$1.2M$30.5M 990 PDF
FY2020 $14.8M$14.8M−$46K$26.5M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $15,524,290 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $11,115,582$8,552,311
I-9 Program service revenuePrior year $2,489,085$5,782,891
I-10 Investment incomePrior year $547,699$1,189,088
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $14,152,366$15,524,290
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $9,513,329$10,167,711
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $3,916,346$4,677,188
I-18 Total expensesPrior year $13,429,675$14,844,899
I-19 Revenue less expensesPrior year $722,691$679,391
Part VI · Governance 11 of 11 board members independent, no flags
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $15,524,290 across 6 lines filed
VIII-1e Government grants$8,552,311
VIII-1h Total contributions, gifts and grants$8,552,311
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $5,782,891$5,782,891
VIII-3 Investment incomeExcluded from tax $623,362$623,362
VIII-7 Net gain or loss on sales of assetsExcluded from tax $565,726$565,726
VIII-12 Total revenueRelated to mission $5,782,891 · Unrelated business $0 · Excluded from tax $1,189,088$15,524,290
Part IX · Statement of functional expenses $14,844,899 across 18 lines filed
IX-5 Pay of current officers, directors and key staffManagement $978,269$978,269
IX-7 Other salaries and wagesPrograms $5,439,792 · Management $1,099,478$6,539,270
IX-8 Pension plan contributionsPrograms $190,811 · Management $71,269$262,080
IX-9 Other employee benefitsPrograms $1,289,262 · Management $481,544$1,770,806
IX-10 Payroll taxesPrograms $449,424 · Management $167,862$617,286
IX-11b Legal feesManagement $97,544$97,544
IX-11c Accounting feesManagement $155,471$155,471
IX-11f Investment management feesManagement $126,072$126,072
IX-11g Other fees for servicesPrograms $0 · Management $0 · Fundraising $0$0
IX-12 Advertising and promotionManagement $14,706$14,706
IX-13 Office expensesPrograms $1,163,486 · Management $561,273$1,724,759
IX-16 OccupancyManagement $225,566$225,566
IX-17 TravelPrograms $237,225 · Management $87,240$324,465
IX-19 Conferences, conventions and meetingsPrograms $38,061$38,061
IX-22 Depreciation, depletion and amortizationManagement $67,654$67,654
IX-23 InsuranceManagement $58,412$58,412
IX-24 Other expenses (24a–d)Programs $1,639,955 · Management $204,523$1,844,478
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $10,448,016 · Management $4,396,883 · Fundraising $0$14,844,899
Part X · Balance sheet $31,343,869 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $4,024,749$3,854,282
X-2 Savings and temporary cash investmentsStart of year $324,119$324,191
X-3 Pledges and grants receivableStart of year $1,807,331$1,275,184
X-9 Prepaid expenses and deferred chargesStart of year $181,083$259,693
X-10c Land, buildings and equipment, netStart of year $185,018$245,743
X-11 Publicly traded securitiesStart of year $22,333,655$25,246,171
X-15 Other assetsStart of year $282,044$138,605
X-16 Total assetsStart of year $29,137,999$31,343,869
X-17 Accounts payable and accrued expensesStart of year $731,082$578,986
X-25 Other liabilitiesStart of year $217,501$94,525
X-26 Total liabilitiesStart of year $948,583$673,511
X-27 Net assets without donor restrictionsStart of year $28,189,416$30,670,358
X-32 Total net assets or fund balancesStart of year $28,189,416$30,670,358
X-33 Total liabilities and net assetsStart of year $29,137,999$31,343,869
Part XI · Reconciliation of net assets $30,670,358 net assets at year end
XI-1 Total revenue$15,524,290
XI-2 Total expenses$14,844,899
XI-3 Revenue less expenses$679,391
XI-4 Net assets at start of year$28,189,416
XI-5 Net unrealized gains (losses) on investments$1,801,551
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$30,670,358

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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