Showing posts with label Delta Dental Extrodinary Executive Pay. Show all posts
Showing posts with label Delta Dental Extrodinary Executive Pay. Show all posts

Monday, February 13, 2012

Delta Dental's extraordinary executive pay and perks. | KMOV.com St. Louis

Now if someone will someone please do the same kind of report on Doral/DentaQuest – since they are the ones taking taxpayer dollars by administering state Medicaid dental programs!!!

 

 

Delta Dental is the nation's biggest provider of dental insurance. It has 56 million patients in its network, about one-third of all dental patients in the country. Last year, the 39 non-profit Delta Dental groups across America combined for $15.2 billion in revenue. It's a massive organization. Since it's not-for-profit, Delta Dental doesn't pay federal or state income taxes.

Delta Dental is registered as a 501(c)(4) not-for-profit, which means it's a mission-driven organization and must give back to the community to retain it's non-profit status. Generally, according to the IRS, 501(c)(4) organizations have more latitude than those classified as 501(c)(3), like Goodwill, which can accept tax deductible donations. Still, according to the IRS, organizations like 501(c)(4) organizations like Delta Dental must focus on the social mission, not the operation of a business.  

A 501(c)(4) says "an organization is not operated for the promotion of social welfare if its primary activity is carrying on a business with the general public in a manner similar to organizations operated for profit."

Our investigation found many Delta Dental executives and board members are paid like they work at massive for-profit corporations. In 2009, 5 Delta Dental executives received more than $3 million in pay and benefits. Steve Gaal III, the former CEO of Delta Dental of Missouri, received $3.4 million, making him the second highest paid Delta Dental executive in the country that year, much of it came from his 3 separate retirement accounts. The 2009 tax records filed by Delta Dental of Missouri reveal extraordinary pay in great detail. You can see the bonuses, and perks like free travel for spouses for board members and executives, and club memberships for executives. We also obtained the 2010 records, the most recent report available.