Civic Intelligence

Forsyth Dental Infirmary for Children

EIN 04-2104230 • 501(c)3 • Cambridge, MA

Profile

The Forsyth Institute was founded to provide free dental care to Boston's poorest children. It was quickly determined that treating the ravages of dental disease (See Schedule O)

245 First StreetCambridge, MA 02142

www.forsyth.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

51st percentile

0.22x

Higher debt load relative to assets than 51% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

43rd percentile

0.22x

Higher debt load relative to revenue than 43% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

51st percentile

4.6%

Higher net margin than 51% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

92nd percentile

$870,723

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 2.6% of source-year revenue.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Asset Growth

6th percentile

-14%

Faster asset growth than 6% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

87th percentile

58%

Faster revenue growth than 87% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Assets

Down

$32,318,839

Down $5,278,897 (-14%) from 2023

Liabilities

Down

$7,214,685

Down $7,109,550 (-50%) from 2023

Net Assets

Up

$25,104,154

Up $1,830,653 (+7.9%) from 2023

Revenue

Up

$33,325,590

Up $12,270,435 (+58%) from 2023

Expenses

Up

$31,790,001

Up $4,161,333 (+15%) from 2023

Net Income

Up

$1,535,589

Up $8,109,102 (+123%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$100M$50M$0Assets 2011: $92,369,633Liabilities 2011: $8,526,332Net Assets 2011: $83,843,3012011Assets 2012: $90,424,356Liabilities 2012: $11,306,597Net Assets 2012: $79,117,7592012Assets 2013: $88,212,388Liabilities 2013: $9,695,692Net Assets 2013: $78,516,6962013Assets 2014: $92,161,535Liabilities 2014: $11,089,635Net Assets 2014: $81,071,9002014Assets 2015: $84,381,243Liabilities 2015: $9,981,068Net Assets 2015: $74,400,1752015Assets 2016: $76,267,336Liabilities 2016: $9,886,322Net Assets 2016: $66,381,0142016Assets 2017: $73,631,229Liabilities 2017: $9,619,272Net Assets 2017: $64,011,9572017Assets 2018: $61,681,227Liabilities 2018: $9,748,235Net Assets 2018: $51,932,9922018Assets 2019: $52,655,810Liabilities 2019: $6,277,101Net Assets 2019: $46,378,7092019Assets 2020: $46,427,599Liabilities 2020: $9,531,864Net Assets 2020: $36,895,7352020Assets 2021: $49,095,156Liabilities 2021: $10,226,899Net Assets 2021: $38,868,2572021Assets 2022: $37,341,891Liabilities 2022: $8,325,115Net Assets 2022: $29,016,7762022Assets 2023: $37,597,736Liabilities 2023: $14,324,235Net Assets 2023: $23,273,5012023Assets 2024: $32,318,839Liabilities 2024: $7,214,685Net Assets 2024: $25,104,1542024

Highlighted filing

2024

Assets$32,318,839
Liabilities$7,214,685
Net Assets$25,104,154

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$40M$20M$0-$20MExpenses 2011: $25,267,9632011Revenue 2012: $28,089,927Expenses 2012: $28,164,218Net Income 2012: -$74,2912012Expenses 2013: $28,283,0012013Revenue 2014: $23,806,884Expenses 2014: $30,096,159Net Income 2014: -$6,289,2752014Revenue 2015: $26,835,002Expenses 2015: $31,200,221Net Income 2015: -$4,365,2192015Revenue 2016: $25,311,036Expenses 2016: $29,917,956Net Income 2016: -$4,606,9202016Revenue 2017: $21,520,723Expenses 2017: $27,381,550Net Income 2017: -$5,860,8272017Revenue 2018: $18,192,639Expenses 2018: $32,286,260Net Income 2018: -$14,093,6212018Revenue 2019: $21,020,126Expenses 2019: $26,026,807Net Income 2019: -$5,006,6812019Revenue 2020: $15,162,236Expenses 2020: $24,582,618Net Income 2020: -$9,420,3822020Revenue 2021: $16,645,095Expenses 2021: $22,654,769Net Income 2021: -$6,009,6742021Revenue 2022: $21,708,148Expenses 2022: $25,966,534Net Income 2022: -$4,258,3862022Revenue 2023: $21,055,155Expenses 2023: $27,628,668Net Income 2023: -$6,573,5132023Revenue 2024: $33,325,590Expenses 2024: $31,790,001Net Income 2024: $1,535,5892024

Highlighted filing

2024

Revenue$33,325,590
Expenses$31,790,001
Net Income$1,535,589

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$32.3$7.21$25.1$33.3$31.8$1.54
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$37.6$14.3$23.3$21.1$27.6$6.57
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$37.3$8.33$29.0$21.7$26.0$4.26
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$49.1$10.2$38.9$16.6$22.7$6.01
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$46.4$9.53$36.9$15.2$24.6$9.42
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$52.7$6.28$46.4$21.0$26.0$5.01
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$61.7$9.75$51.9$18.2$32.3$14.1
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$73.6$9.62$64.0$21.5$27.4$5.86
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$76.3$9.89$66.4$25.3$29.9$4.61
2015Detailed filing. Detailed filing data is available for this year.$84.4$9.98$74.4$26.8$31.2$4.37
2014Detailed filing. Detailed filing data is available for this year.$92.2$11.1$81.1$23.8$30.1$6.29
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$88.2$9.70$78.5$28.3
2012Summary only. Only limited summary data is available for this year.$90.4$11.3$79.1$28.1$28.2$0.07
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$92.4$8.53$83.8$25.3
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2021 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 11, 2022
Return Version
2020v4.2
Gross Receipts
$16,645,150
Mission and Program Overview

Mission

The forsyth institute was founded to provide free dental care to boston's poorest children. It was quickly determined that treating the ravages of dental disease (schedule o)

To improve oral and overall health through combination of innovative (continued on schedule o) research and community outreach by accelerating the delivery of wellness solutions locally and globally.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$29,959,133$34,287,769▲ $4,328,636
Land, Buildings, and Equipment, Net$7,384,897$5,545,838▼ $1,839,059
Investments Other Securities$4,259,473$5,205,089▲ $945,616
Accounts Receivable$3,064,974$2,371,914▼ $693,060
Cash and Non-Interest-Bearing Accounts$1,234,332$1,351,700▲ $117,368
Prepaid Expenses and Deferred Charges$224,790$332,846▲ $108,056
Savings and Temporary Cash Investments$300,000--
Total Assets$46,427,599$49,095,156▲ $2,667,557
Liabilities
Unsecured Notes Loans Payable$2,814,900$3,888,255▲ $1,073,355
Other Liabilities$4,360,372$3,435,282▼ $925,090
Accounts Payable and Accrued Expenses$1,915,539$2,488,936▲ $573,397
Deferred Revenue$441,053$414,426▼ $26,627
Total Liabilities$9,531,864$10,226,899▲ $695,035
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$36,853,234$38,854,598▲ $2,001,364
Net Assets With Donor Restrictions$42,501$13,659▼ $28,842
Total Net Assets Fund Balance$36,895,735$38,868,257▲ $1,972,522
Total Liabilities and Net Assets / Fund Balance$46,427,599$49,095,156▲ $2,667,557

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$4,850,937$11,923,809$16,774,746
Equipment$466,777$11,008,372$11,475,149
Other Land Buildings$228,124$1,492,526$1,720,650
Other Securities$5,205,089--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$34,218,606-▲ $9,667,919$4,393,667$39,492,858
2019$39,661,387-▲ $1,032,607$6,475,388$34,218,606
2018$44,278,955$2,371,539▲ $1,341,452$8,330,559$39,661,387
2017$49,276,967-▲ $4,245,291$9,243,303$44,278,955
2016$50,258,923-▲ $5,209,122$6,191,078$49,276,967
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Wenyuan ShiCEO & Chief Scientific OfficerFT$420,650$38,160$458,810
Dr Thomas E Van DykeVP Clinical & Trans. Res.FT$302,304$29,506$331,810
Ms Carline DurocherGeneral Legal Counsel & SecFT$210,636$75,240$285,876
Dr Floyd DewhirstSenior ScientistFT$214,718$52,943$267,661
Dr Pramod M SoparkarSenior ScientistFT$210,981$44,899$255,880
Ms Wanda CordovaCFO & TreasurerFT$232,700$19,942$252,642
Ms Paula LapalmeChief Administration OfficerFT$184,326$22,740$207,066
Dr Ibrahim KantarciSenior ScientistFT$178,387$24,381$202,768
Dr Xuesong HeAssociate ScientistFT$188,687$12,726$201,413

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Aqueduct Technologies INCIt Managed Services333 WYMAN STREET SUITE 300, Waltham, MA 02451$358,000
Foley Hoag LLPLegalSEAPORT WEST 155 SEAPORT BLVD, Boston, MA 02210$123,540
Revenue and Support

Revenue Composition

Contributions and Grants
$10,873,715
Program Service Revenue
$3,826,542
Investment Income
$1,886,876
Other Revenue
$57,962
All Other Contributions
$1,266,992
Change in Net Assets
$-6,009,674

Audited Revenue Reconciliation

Revenue per Audited Statements
$16,500,333
Revenue Not Reported on Financial Statements
$144,762
Revenue Not Reported on Form 990
$7,982,196
Total Revenue per Audited Statements
$24,482,529
Total Revenue per Form 990
$16,645,095
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$11,608,601
Other Expenses$9,997,209
Grants and Similar Amounts Paid$1,045,896
Total Fundraising Expense$200,736
Professional Fundraising Fees$3,063

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,322,570$2,318,690$35,678$7,676,938
Occupancy$4,667,485$170,998$7,037$4,845,520
Depreciation Depletion$1,860,897$34,350$1,414$1,896,661
Other Employee Benefits$996,597$637,431$23,052$1,657,080
Current Officers, Directors, Trustees, and Key Employees$221,144$1,017,697$91,312$1,330,153
Grants to Domestic Orgs$934,465--$934,465
Other Expenses$312,461$338,424$4,178$655,063
Payroll Taxes$348,785$211,388$8,153$568,326
Fees for Services Other$171,856$300,712-$472,568
Fees for Services Legal$159,105$251,783-$410,888
Pension Plan Contributions$251,182$118,812$6,110$376,104
Information Technology$40,972$298,870$11,489$351,331
Insurance$220,500$7,388$304$228,192
Fees for Service Investment Mgmnt Fees-$144,762-$144,762
Foreign Grants$111,431--$111,431
Fees for Services Accounting-$102,572-$102,572
Travel$43,368-$3,175$46,543
Fees for Services Lobbying$13,902$2,088-$15,990
Conferences and Meetings$5,329$6,619$3,340$15,288
Advertising-$11,409-$11,409
Fees for Services Professional Fundraising--$3,063$3,063
Total Functional Expenses$16,418,599$6,035,434$200,736$22,654,769

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$22,654,769
Expenses per Audited Statements$22,510,007
Total Expenses per Audited Statements$22,510,007
Expenses Not Reported on Financial Statements$144,762
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
University of WashingtonSeattle, WAGOV'TProgram Support$446,217
Marine Biological LaboratoryWoods Hole, MA501(c)(3)Program Support$142,176
University of FloridaGainesville, FL501(c)(3)Program Support$112,376
Yale UniversityNew Haven, CT501(c)(3)Program Support$85,614
BRIGHAM & WOMEN'S HOSPITALBoston, MA501(c)(3)Program Support$55,753
The Jackson LaboratoryBar Harbor, ME501(c)(3)Program Support$54,733
The Research Foundation University of BuffaloBuffalo, NY501(c)(3)Program Support$26,037
President & Fellows of Harvard CollegeBoston, MA501(c)(3)Program Support$9,854

International Summary

Offices
0
Employees
0
Spending
$111,431

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
Yes
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (including Iceland & Greenland)Grantmaking-00$97,990
Middle East and North AfricaGrantmaking-00$13,441
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$3,063
Fundraising Direct Expenses$55
Fundraising Gross Income$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
An Evening With Forsyth Institute$79,189-$55-
Total Events$79,189-$55$-55
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Rent$3,435,282
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Form 990 review process the return was prepared by tax advisors from a national accounting firm with information provided by management. The draft form 990 is reviewed by the ceo, cfo, and the audit, risk & compliance committee of the board of directors. It is then distributed to each member of the board of directors before filing.

Form 990, Part VI, Section B, Line 12C

Conflict of interest policy monitoring & enforcement forsyth's conflict of interest policy applies to forsyth's board members, officers, administrators, and research employees and was established to protect the interest of the institute - the design, conduct, or reporting of operations or research. Consistent with the policy, officers, administrators, research staff employees and board members are required to complete an annual conflict of interest disclosure form. To accomplish this objective, this policy establishes a disclosure system whereby potential conflict situations will be identified, reviewed and addressed. Forsyth officers, administrators, and research employees - forsyth's secretary/general counsel is the institutional official who is responsible for disseminating the conflict of interest policy and collecting signed disclosure statements when the employees are first hired and annually thereafter. The resolution of any conflict or perceived conflict is identified by the institutional official, in consultation with forsyth's conflict of interest committee. Forsyth board members - forsyth's secretary/general counsel is responsible for disseminating the conflict of interest policy and collecting signed disclosure statements from board members at the time they are appointed and annually thereafter. The resolution of any conflict or perceived conflict is identified by the secretary in consultation with the chairman of forsyth's board of directors. As a voting board member, the ceo does not vote on and is recused when a conflict of interest arises.

Form 990, Part VI, Section B, Line 15

Process for determining compensation ceo compensation is reviewed and approved annually by the executive committee of the independent board of directors. Comparable compensation data and form 990 data from other organizations are utilized for the review of ceo compensation. The ceo reviews and approves compensation for the executive management, using market surveys and form 990 data for other similar organizations. These decisions are reviewed by the board of directors. Annually, forsyth participates in a compensation survey that includes comparative data of similar organizations. These analyses are utilized in the review of the ceo and executive management's compensation. Both the deliberation and decision process for determining compensation of the ceo and executive management is contemporaneously documented.

Form 990, Part VI, Section C, Line 19

How documents are made available to the public the forsyth institute makes its governing documents, written policies and financial statements available to the public. These items are available upon request. General statement regarding the covid-19 pandemic: the outbreak of covid-19 has caused disruption in operations of businesses domestically and globally. In response, the institute implemented cost savings and other measures to reduce operating expenses and ensure adequate liquidity. Due to the uncertainty of the continued spread of the virus and economic outlook, there may be short-term and long-term implications for operations of the institute.

Filing and Contact Details

Filer

Filer Name
Forsyth Dental Infirmary for Children
EIN
04-2104230
Phone
6172625200
Address
245 FIRST STREET, CAMBRIDGE, MA 02142
Doing Business As
The Forsyth Institute

Signing Officer

Name
Michael Ross
Title
Interim CFO & Treasurer
Phone
6172625200
Signed
2022-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Wenyuan Shi
Formed
1910
Legal Domicile
Ma
Voting Board Members
18
Independent Board Members
17
Employees
126
Volunteers
74

Preparer

Firm
Grant Thornton Llp
Address
75 STATE ST 13TH FLOOR, BOSTON, MA 02109
Preparer
Erin Couture
Phone
6177237900
Supplemental Narrative

Additional Explanations

MISSION STATEMENT (CONTINUED):

Form 990, part iii, line 1 biological research, clinical service and public health outreach, and technological innovation. Pillar 1: forsyth has a long legacy of changing the oral health landscape through dental research, dental clinical trials, and training. For decades, forsyth has been a top-tier institution in national institutes of health (nih) research funding. Our scientists have contributed to the highest impact publications in the oral health field. Pillar 2: the forsyth institute is committed to improving public health in the communities we serve. Since its inception in 1910 as a dental infirmary for children, forsyth has established itself as a pioneer in pediatric dentistry, treating hundreds of thousands of children in need across massachusetts. Forsyth continues to carry out our founding mission providing oral health care through mobile, private practice, and global programs. In 2001, forsythkids began using vans to deliver preventive dental care to children of all ages at schools, daycares, summer camps, and community centers across massachusetts. The program has provided care to tens of thousands of children since its inception. Pillar 3: the forsyth institute is uniquely suited to lead the development of novel oral health technologies. Our entrepreneurial spirit encourages researchers to bring their expertise to the commercial marketplace, and our clinical team is experienced in partnering with industry to test new treatments and products. Forsyth's center for clinical and translational research offers a highly skilled and experienced team of administrative staff, dental professionals, laboratory technicians, and subject recruitment specialists to meet every need of a research project or clinical trial. As an independent research institute, forsyth has the freedom to follow our science wherever it leads and to collaborate with a broad spectrum of stakeholders. The institute is located in kendall square, cambridge, an epicenter of biotechnology with one of the highest densities of biomedical researchers in the world.

Financial Statement Notes

PART V, LINE 4:

Intended uses of endowment funds to support the charitable mission of the forsyth dental infirmary for children.

PART X, LINE 2:

Asc 740 footnote the institute (and forsyth international) are organizations described in section 501(c)(3) of the internal revenue code, as amended (the "code"), and are generally exempt from income taxes pursuant to section 501(a) of the code. The institute to identify uncertain tax positions and has determined that no such positions exist that are material to the financial statements.

Raw XML AppendixShowing 400 of 1,112 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0TO IMPROVE ORAL AND OVERALL HEALTH THROUGH COMBINATION OF INNOVATIVE (CONTINUED ON SCHEDULE O) RESEARCH AND COMMUNITY OUTREACH BY ACCELERATING THE DELIVERY OF WELLNESS SOLUTIONS LOCALLY AND GLOBALLY.
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IRS990/Desc0THE FORSYTH INSTITUTE IS THE ONLY INDEPENDENT RESEARCH INSTITUTE IN THE UNITED STATES FOCUSING ON THE CONNECTIONS BETWEEN ORAL HEALTH AND OVERALL WELLNESS.
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IRS990/DoingBusinessAsName/BusinessNameLine1Txt0THE FORSYTH INSTITUTE
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