Lifebanc is located in Cleveland, OH. The organization was established in 1986. According to its NTEE Classification (E65) the organization is classified as: Organ & Tissue Banks, under the broad grouping of Health Care and related organizations. As of 12/2023, Lifebanc employed 184 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lifebanc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Lifebanc generated $79.3m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 10.7% each year . All expenses for the organization totaled $76.7m during the year ending 12/2023. While expenses have increased by 11.8% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
SAVING AND HEALING LIVES THROUGH ORGAN, EYE AND TISSUE DONATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SINCE 1986, LIFEBANC HAS BEEN THE NORTHEAST OHIO NONPROFIT ORGANIZATION WORKING TO SAVE AND HEAL LIVES THROUGH ORGAN AND TISSUE DONATION. LIFEBANC BEGAN AS ONE OF THE ORIGINAL ORGAN PROCUREMENT ORGANIZATIONS IN THE UNITED STATES AND IS A LEADER IN THE FIELD AND A HIGHLY RESPECTED ORGANIZATION REGIONALLY AND NATIONALLY. LIFEBANC SERVES NORTHEAST OHIO'S POPULATION OF OVER FOUR MILLION PEOPLE AND WORKS WITH 80 HOSPITALS IN A 20-COUNTY AREA. VOLUNTEERS AND STAFF WORK TO EDUCATE THE PUBLIC ABOUT ORGAN AND TISSUE DONATION, ENCOURAGE INDIVIDUALS TO DESIGNATE THEIR DONATION DECISION AND OFFER GRIEF SUPPORT SERVICES TO FAMILIES TOUCHED BY DONATION. LIFEBANC IS GOVERNED BY A VOLUNTEER BOARD OF DIRECTORS; COMPRISED OF COMMUNITY MEMBERS, CLINICIANS, RECIPIENTS AND DONOR FAMILY MEMBERS, WHO DRIVE(CONTINUED ON SCHEDULE O)ORGANIZATIONAL STRATEGY WITH THE VISION OF A FUTURE WHERE ORGAN, EYE AND TISSUE DONATION IS EMBRACED AS AN HONOR AND A PERSONAL RESPONSIBILITY. IN 2023, A RECORD NUMBER OF NORTHEAST OHIOANS GAVE THE GIFT OF LIFE THROUGH ORGAN DONATION (231) AND ADDITIONALLY, 805 GAVE THE GIFTS OF TISSUE AND 612 GAVE THE GIFT OF EYE DONATION. THIS GENEROSITY RESULTED IN 656 ORGANS DONATED THAT SAVED THE LIVES OF 570 PEOPLE. THE AMOUNT OF PEOPLE SAVED BY ORGAN DONORS FROM NORTHEAST OHIO EACH YEAR HAS RISEN OVER 40% SINCE 2014. ORGANS FROM DONORS IN NORTHEAST OHIO WERE TRANSPLANTED TO RECIPIENTS IN NEARLY THREE DOZEN STATES AND THE DISTRICT OF COLUMBIA. MANY LIFE-SAVING AND HEALING PROCEDURES UTILIZE DONATED TISSUE. THE GIFTS OF TISSUE DONORS WILL SAVE THE LIVES OF BURN VICTIMS, REPAIR DAMAGED HEARTS, GIVE BACK MOBILITY AND RESTORE SIGHT TO TENS OF THOUSANDS OF PEOPLE. LIFEBANC PROVIDES EXTENSIVE CARE FOR THE FAMILIES OF DONORS THAT BEGINS AT THEIR FIRST MOMENT OF NEED AND EXTENDS FOR UP TO TWO YEARS PAST THE GIFTS OF THE DONATION. INCLUDED IS FREE GRIEF SUPPORT IN THE FORM OF INDIVIDUAL COUNSELING WITH A LICENSED THERAPIST, GROUP COUNSELING, AND HOST OF OTHER ACTIVITIES. IN 2023, LIFEBANC COMMUNICATED WITH 2,690 FAMILIES, PROVIDED703 HOURS OF INDIVIDUAL COUNSELING, AND OFFERED A VARIETY OF 10-WEEK SUPPORT GROUPS AND MULTIPLE ONE-TIME SEMINARS. LIFEBANC ALSO HELPS COORDINATE ANONYMOUS COMMUNICATION BETWEEN DONOR FAMILIES AND RECIPIENTS AND FACILITATED OVER 1,033 CORRESPONDENCES/UPDATES IN 2023. DESPITE THE INCREASE IN ORGAN, EYE AND TISSUE DONORS THERE REMAINS A CRITICAL ORGAN SHORTAGE IN THE UNITED STATES. THERE ARE CURRENTLY OVER 110,000 PEOPLE WAITING FOR A LIFE-SAVING ORGAN TRANSPLANT ACROSS THE COUNTRY. THERE MORE THAN 1,300 PEOPLE WAITING IN NORTHEAST OHIO ALONE. IN 2023, OVER 200 PEOPLE IN NORTHEAST OHIO EITHER DIED WAITING FOR AN ORGAN OR BECAME TOO SICK TO TRANSPLANT. THE BEST CHANCE THOSE STILL WAITING HAVE AT RECEIVING THE LIFE-SAVING TRANSPLANT THEY NEED IS BY INCREASING THE NUMBER OF PEOPLE WHO REGISTER THEIR WISHES TO BE AN ORGAN, EYE AND TISSUE DONOR. IN 2023, OVER 60,000 PEOPLE IN NORTHEAST OHIO REGISTERED FOR THE FIRST TIME ON THE OHIO DONOR REGISTRY. BEST CHANCE THOSE STILL WAITING HAVE AT RECEIVING THE LIFE-SAVING TRANSPLANT THEY NEED IS BY INCREASING THE NUMBER OF PEOPLE WHO REGISTER THEIR WISHES TO BE AN ORGAN, EYE AND TISSUE DONOR.
ANNUALLY, LIFEBANC VOLUNTEERS AND STAFF EDUCATE MORE THAN 100,000 STUDENTS AND ADULTS IN AN EFFORT TO PROVIDE ACCURATE INFORMATION, ENGAGE THE PUBLIC AND INCREASE THE NUMBER OF REGISTERED ORGAN, EYE AND TISSUE DONORS. LIFEBANC ALSO PROVIDES BEREAVEMENT SUPPORT AND SERVICES TO FAMILIES TOUCHED BY DONATION.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Cheryl Bailey Board Member | Trustee | 1 | $0 |
Renee Bennett - Member Cc Board Member | Trustee | 1 | $0 |
Margarita Diaz Board Member | Trustee | 1 | $0 |
Daneen Mace-Vadjunecmhhs Rn-Onc Tcr Board Member | Trustee | 1 | $0 |
Paul Malie Board Member | Trustee | 1 | $0 |
Tania Markarian DDS Board Member | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
American Fdtn For Donation And Transplan Import Services | 12/30/23 | $5,039,318 |
Gift Of Life- Michigan Import Services | 12/30/23 | $4,721,250 |
Indiana Donor Network Import Services | 12/30/23 | $4,089,500 |
Center For Organ Recovery & Ed Import Services | 12/30/23 | $3,487,227 |
Gift Of Life Donor Program Import Services | 12/30/23 | $2,286,118 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $7,251 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $722,670 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $729,921 |
Total Program Service Revenue | $77,723,859 |
Investment income | $480,647 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $207,943 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $79,308,005 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $908,116 |
Compensation of current officers, directors, key employees. | $105,264 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $14,926,981 |
Pension plan accruals and contributions | $761,505 |
Other employee benefits | $4,274,803 |
Payroll taxes | $1,208,543 |
Fees for services: Management | $0 |
Fees for services: Legal | $56,406 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $81,600 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $106,759 |
Fees for services: Other | $486,232 |
Advertising and promotion | $0 |
Office expenses | $115,634 |
Information technology | $1,277,604 |
Royalties | $0 |
Occupancy | $185,591 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $102,887 |
Interest | $156,243 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $606,703 |
Insurance | $454,217 |
All other expenses | $1,319,266 |
Total functional expenses | $76,721,579 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $3,865,466 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $18,305,364 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $343,656 |
Prepaid expenses and deferred charges | $556,151 |
Net Land, buildings, and equipment | $12,078,445 |
Investments—publicly traded securities | $21,656,899 |
Investments—other securities | $3,580,471 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $134,177 |
Total assets | $60,520,629 |
Accounts payable and accrued expenses | $11,539,978 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $3,937,580 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $15,477,558 |
Net assets without donor restrictions | $45,043,071 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $60,520,629 |