Versiti Wisconsin Inc
- Assets
- $141.9m
- Revenue
- $220.8m
- Investments
- $17.9m
- Employees
- 1,301
- Location
- Milwaukee, WI
- Founding
- 07/1994
- Data as of
- 12/2022
- EIN
- 39-0807235
Organization Overview
Versiti Wisconsin Inc is located in Milwaukee, WI. The organization was established in 1994. According to its NTEE Classification (E61) the organization is classified as: Blood Banks, under the broad grouping of Health Care and related organizations. As of 12/2022, Versiti Wisconsin Inc employed 1,301 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Versiti Wisconsin Inc 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 12/2022, Versiti Wisconsin Inc generated $220.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $207.3m during the year ending 12/2022. While expenses have increased by 3.9% per year over the past 8 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.
Since 2014, Versiti Wisconsin Inc has awarded 39 individual grants totaling $50,940,570. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
(SEE SCHEDULE O) VERSITI WISCONSIN, INC. (VERSITI WISCONSIN) IS A BLOOD HEALTH INNOVATOR WHO ENHANCES LIVES THROUGH DISCOVERY, DIAGNOSIS AND TREATMENT. VERSITI EXPANDS THE FRONTIERS OF PATIENT HEALTH THROUGH THE INTEGRATION OF SCIENCE, MEDICINE AND SERVICE.
Describe the Organization's Program Activity:
VERSITI OPERATES THE COMPREHENSIVE CENTER FOR BLEEDING DISORDERS (CCBD), UNDER A FEDERAL SUBAWARD AGREEMENT OF THE SOCIAL SECURITY ACT. CCBD PROVIDES CRITICAL SERVICES TO BLEEDING AND CLOTTING DISORDER PATIENTS AND THEIR FAMILIES. AS A COVERED ENTITY UNDER THE FEDERAL 340B DRUG DISCOUNT PROGRAM, VERSITI IS ELIGIBLE TO ACCESS CERTAIN SPECIALTY PHARMACEUTICALS AT DISCOUNTED PRICING. PHARMACEUTICAL NET INCOME IS PROGRAM INCOME AND FUNDS ARE RESTRICTED TO ACTIVITIES AND EXPENDITURES THAT FURTHER ELIGIBLE PROJECTS AND PROGRAM OBJECTIVES; INCLUDING PATIENT CARE, EDUCATION, SUPPORT SERVICES, APPROVED GRANT RESEARCH AND OTHER COSTS. VERSITI PROVIDES THESE SPECIALTY PHARMACY PRODUCTS TO HOME CARE PATIENTS AND HOSPITAL SYSTEMS. DURING 2022, 17,695 VIALS OF SPECIALTY PHARMACY PRODUCTS WERE PROVIDED.
A. VERSITI WISCONSIN, INC. (VERSITI) PROVIDES CLINICAL DIAGNOSTIC TESTING SERVICES TO HOSPITALS, PHYSICIAN OFFICES AND OTHER REFERENCE LABORATORIES. DURING 2022, 130,638 TESTS WERE PERFORMED.B. VERSITI ORGAN AND TISSUE DONATION COMBINES PROCUREMENT SERVICES AND EDUCATION TO ENHANCE THE LIVES OF PATIENTS AND PROVIDES GUIDANCE TO THE FAMILIES OF POTENTIAL DONORS. DURING 2022, 380 ORGANS WERE TRANSPLANTED AND 526 MUSKULOSKELETAL DONORS WERE SEEN.C. VERSITI MEDICAL SERVICES PROVIDES MEDICAL AND THERAPEUTIC SERVICES IN PARTNERSHIP WITH LOCAL HOSPITALS. DURING 2022, 3,668 THERAPEUTIC PROCEDURES WERE PERFORMED.D. VERSITI DONOR TESTING LABORATORY PROVIDES INFECTIOUS DISEASE TESTING TO DETERMINE DONOR SUITABILITY AND PRODUCT SAFETY FOR VERSITI AFFILIATES AND OTHER BLOOD CENTER PARTNERS.THE COMBINED TOTALS FOR DIAGNOSTIC LABORATORY, ORGAN AND TISSUE DONATION, MEDICAL SERVICES, AND DONOR TESTING LABORATORY ARE SUMMARIZED BELOW.
VERSITI RECRUITS VOLUNTEER BLOOD DONORS, COLLECTS, PROCESSES AND DISTRIBUTES BLOOD AND BLOOD COMPONENTS TO PROVIDE A SAFE AND RELIABLE SUPPLY OF BLOOD FOR HOSPITALS AND OTHER BLOOD CENTERS SERVED. DURING 2022, 153,460 BLOOD UNITS WERE COLLECTED.
VERSITI RESEARCH ADVANCES THE SCIENTIFIC AND MEDICAL UNDERSTANDING OF BLOOD BIOLOGY AND BLOOD DISEASE TO IMPROVE HEALTH. DURING 2022, VERSITI HAD 40 INVESTIGATORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Miskel President & CEO | OfficerTrustee | 21 | $567,313 |
Brian Bautista Evp & Chief Operating Officer | Officer | 22 | $297,280 |
Bart Reuter Evp & General Counsel | Officer | 21 | $274,726 |
Gitesh Dubal Evp & Chief Marketing Officer | Officer | 22 | $250,616 |
Anthony Watkins Evp & Chief Financial Officer | Officer | 16 | $247,116 |
Michael Deininger MD Evp & Chief Scientific Officer | Officer | 48 | $530,569 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Medical College Of Wisconsin Inc Physician Services | 12/30/22 | $3,094,799 |
Cerner Corporation Software Support | 12/30/22 | $749,518 |
Milwaukee Regional Medical Center Facility Services | 12/30/22 | $609,711 |
Coverall North America Inc Cleaning Services | 12/30/22 | $506,082 |
Gift Of Hope Organ Recovery Services | 12/30/22 | $488,840 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $8,273,184 |
| Government grants | $21,118,751 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,430,964 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $31,822,899 |
| Total Program Service Revenue | $183,233,449 |
| Investment income | $1,484,098 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$11,881 |
| Net Gain/Loss on Asset Sales | $4,057,295 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $220,819,216 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,178,503 |
| 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. | $3,476,227 |
| Compensation of current officers, directors, key employees. | $2,014,709 |
| Compensation to disqualified persons | $146,600 |
| Other salaries and wages | $62,360,026 |
| Pension plan accruals and contributions | $3,103,124 |
| Other employee benefits | $9,832,424 |
| Payroll taxes | $4,640,009 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $274,937 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $27,698 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,009 |
| Fees for services: Other | $23,146,671 |
| Advertising and promotion | $450,441 |
| Office expenses | $135,651 |
| Information technology | $2,178,379 |
| Royalties | $13,080 |
| Occupancy | $4,662,204 |
| Travel | $2,060,184 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $436,014 |
| Interest | $392 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,062,108 |
| Insurance | $143,606 |
| All other expenses | $1,679,477 |
| Total functional expenses | $207,344,800 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,225,979 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,463,590 |
| Accounts receivable, net | $35,985,416 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $9,531,534 |
| Prepaid expenses and deferred charges | $586,811 |
| Net Land, buildings, and equipment | $31,100,051 |
| Investments—publicly traded securities | $40,113,083 |
| Investments—other securities | $17,881,849 |
| Investments—program-related | $0 |
| Intangible assets | $939,531 |
| Other assets | $1,035,640 |
| Total assets | $141,863,484 |
| Accounts payable and accrued expenses | $18,514,949 |
| Grants payable | $0 |
| Deferred revenue | $329,670 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,891,714 |
| Total liabilities | $26,736,333 |
| Net assets without donor restrictions | $115,127,151 |
| 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 | $141,863,484 |
Grants Awarded
Over the last fiscal year, Versiti Wisconsin Inc has awarded $4,139,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
VERSITI BLOOD RESEARCH INSTITUTE FOUNDATION INC PURPOSE: RESEARCH | $4,010,000 |
AMERICAN HEART ASSOCIATION PURPOSE: RESEARCH | $15,000 |
GREAT LAKES HEMOPHILIA FOUNDATION INC PURPOSE: PATIENT FINANCIAL ASSISTANCE | $114,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Versiti Wisconsin Inc Milwaukee, WI | $141,863,484 | $220,819,216 |
Impactlife Davenport, IA | $53,227,230 | $87,660,123 |
Versiti Michigan Inc Grand Rapids, MI | $40,583,920 | $65,203,787 |
Innovative Blood Resources St Paul, MN | $46,399,796 | $62,700,542 |
Versiti Illinois Inc Aurora, IL | $75,130,707 | $62,973,404 |
Lifeserve Blood Center Johnston, IA | $80,851,188 | $47,032,025 |
Community Blood Center Inc Appleton, WI | $32,424,281 | $20,016,205 |
Northern Illinois Blood Bank Inc Rockford, IL | $12,381,329 | $11,193,471 |
Blood Center Of Northcentral Wisconsin Inc Wausau, WI | $5,589,265 | $3,775,847 |
American Donor Services Inc Cottage Grove, MN | $2,320,257 | $1,621,890 |
Hemophilia Of Iowa Inc Des Moines, IA | $421,465 | $189,415 |
Educational & Scientific Fdtn Of The Ill State Medical Society Inc Chicago, IL | $2,298,972 | $114,545 |
Blood Banks Association Of New York State Inc St Paul, MN | $56,136 | $0 |
Comprehensive Bleeding Disorders Center Dunlap, IL | $776,923 | $0 |
Blood4us Naperville, IL | $1,050 | $0 |