Health Quest Systems Inc

Health Quest Systems Inc. shows recent profitability after years of losses, with growing assets and liabilities.

EIN: 141678068 · Poughkeepsie, NY · Updated: 2026-03-28

$26.1MRevenue

$107.1MAssets

65/100Mission Score (Good)

About Health Quest Systems Inc

Health Quest Systems Inc (EIN: 141678068) is a nonprofit organization based in Poughkeepsie, NY. The organization reported total revenue of $26.1M and total assets of $107.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Health Quest Systems Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Health Quest Systems Inc. exhibits a fluctuating financial performance over the past decade. While the organization reported a positive net income in its latest filing (202309) with revenues of $30,055,790 against expenses of $29,976,690, this follows several years of significant net losses, notably in 202209 ($1.5 million loss) and 202109 ($6.3 million loss). The organization's assets have shown substantial growth, reaching $162,920,852 in 202309 from $107,118,308 in the latest available data, indicating potential capital investments or asset accumulation. However, liabilities have also increased proportionally, suggesting a reliance on debt or other obligations.

The absence of reported officer compensation across all available filings is a notable point regarding transparency. While this could indicate that executive compensation is handled by a related entity or not directly reported on this specific 990, it warrants further investigation for a complete understanding of the organization's financial practices. The overall spending efficiency cannot be fully assessed without a detailed breakdown of program, administrative, and fundraising expenses, which are not provided in the summary data.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Health Quest Systems Inc with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 15%
programs: 75%
fundraising: 10%

According to IRS 990 filings, Health Quest Systems Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

No officer compensation is reported across all available IRS 990 filings for Health Quest Systems Inc., which is unusual for an organization with revenues in the tens to hundreds of millions of dollars. This suggests executive compensation may be handled by a parent or related entity, or not disclosed on these specific forms.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Red Flags

The following concerns were identified during AI analysis of Health Quest Systems Inc's IRS 990 filings:

No reported officer compensation across all filings, which may obscure executive pay practices.
Significant year-over-year fluctuations in revenue and expenses, indicating potential instability or major operational changes.
Consistent net losses in several recent years (e.g., $1.5M in 202209, $6.3M in 202109) before a recent positive turn.

Strengths

The following positive indicators were identified for Health Quest Systems Inc:

Positive net income in the latest filing (202309), reversing a trend of losses.
Substantial asset growth, indicating potential for future capacity or investment.
Consistent filing of IRS 990 forms, demonstrating a commitment to regulatory compliance.

Frequently Asked Questions about Health Quest Systems Inc

Why is no officer compensation reported on any of the 990 filings?

The consistent reporting of 0% officer compensation across all filings suggests that executive salaries might be paid by a related entity, or that the individuals serving as officers are not compensated directly by Health Quest Systems Inc. as reported on these specific forms. Further investigation into the organizational structure and related entities would be necessary to understand this.

What caused the significant fluctuations in revenue and expenses over the past few years?

Revenue peaked at $220,668,429 in 202009 and then sharply declined to $30,055,790 by 202309. This dramatic change, along with corresponding expense fluctuations, could indicate significant operational changes, divestitures, mergers, or shifts in funding models. A detailed review of the organization's activities during these periods would be needed.

What is the nature of the substantial increase in assets and liabilities?

Assets grew from $78,345,682 in 201909 to $162,920,852 in 202309, with liabilities showing a similar trend. This could be due to capital investments, acquisitions, or increased debt financing. Understanding the composition of these assets and liabilities is crucial for assessing financial stability.

Filing History

IRS 990 filing history for Health Quest Systems Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Health Quest Systems Inc's revenue has declined by 70.3%, moving from $101.1M to $30.1M. Total assets increased by 70.9% over the same period, from $95.4M to $162.9M. Total functional expenses fell by 70.4%, from $101.1M to $30.0M. In its most recent filing year (2023), Health Quest Systems Inc reported a surplus of $79K, with revenue exceeding expenses. The organization holds $159.4M in liabilities against $162.9M in assets (debt-to-asset ratio: 97.8%), resulting in net assets of $3.5M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$30.1M	$30.0M	$162.9M	$159.4M	—	—
2022	$67.0M	$68.5M	$272.0M	$268.6M	—	—
2021	$128.6M	$135.0M	$299.2M	$294.3M	—	View 990
2020	$220.7M	$223.2M	$182.5M	$171.1M	—	View 990
2019	$155.4M	$152.1M	$78.3M	$84.6M	—	View 990
2018	$184.9M	$185.2M	$103.7M	$113.2M	—	View 990
2017	$182.7M	$182.2M	$121.6M	$130.7M	—	View 990
2016	$174.3M	$179.6M	$92.0M	$101.6M	—	View 990
2015	$156.3M	$156.5M	$96.2M	$100.5M	—	View 990
2014	$151.2M	$155.4M	$92.9M	$97.1M	—	View 990
2013	$144.5M	$144.5M	$108.8M	$108.8M	—	View 990
2012	$127.3M	$127.3M	$124.2M	$124.2M	—	View 990
2011	$101.1M	$101.1M	$95.4M	$95.4M	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $30.1M, expenses of $30.0M, and assets of $162.9M (revenue -55.1% year-over-year).
2022: Revenue of $67.0M, expenses of $68.5M, and assets of $272.0M (revenue -47.9% year-over-year).
2021: Revenue of $128.6M, expenses of $135.0M, and assets of $299.2M (revenue -41.7% year-over-year).
2020: Revenue of $220.7M, expenses of $223.2M, and assets of $182.5M (revenue +42.0% year-over-year).
2019: Revenue of $155.4M, expenses of $152.1M, and assets of $78.3M (revenue -16.0% year-over-year).
2018: Revenue of $184.9M, expenses of $185.2M, and assets of $103.7M (revenue +1.2% year-over-year).
2017: Revenue of $182.7M, expenses of $182.2M, and assets of $121.6M (revenue +4.8% year-over-year).
2016: Revenue of $174.3M, expenses of $179.6M, and assets of $92.0M (revenue +11.5% year-over-year).
2015: Revenue of $156.3M, expenses of $156.5M, and assets of $96.2M (revenue +3.4% year-over-year).
2014: Revenue of $151.2M, expenses of $155.4M, and assets of $92.9M (revenue +4.6% year-over-year).
2013: Revenue of $144.5M, expenses of $144.5M, and assets of $108.8M (revenue +13.5% year-over-year).
2012: Revenue of $127.3M, expenses of $127.3M, and assets of $124.2M (revenue +25.9% year-over-year).
2011: Revenue of $101.1M, expenses of $101.1M, and assets of $95.4M.

Data Sources and Methodology

This transparency report for Health Quest Systems Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.

IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.