The design and synthesis of a new dendrimer-poly(ethylene glycol) (PEG) conjugate that may be used as a model drug carrier are described. The starting material is a polyether dendrimer with two different types of chain end functionalities. The dendritic assembly is made water soluble through attachment os short PEG chains to the dendrimer via one type of functionality. The remaining chain end functionalities then were used to incorporate model drug molecules of varying polarity into the modified dendrimer. Cholesterol and two amino acid derivatives were selected as model drugs for attachment through their respective hydroxyl, carboxylic acid, and amino functional groups to the dendrimer via carbonate, ester, and carbamate linkages. The resulting water-soluble dendrimer-model drug conjugates were characterized by matrix-assisted laser desorption ionization time of flight (MALDI-TOF) mass spectrometry.