Versiti Inc
- Assets
- $27.7m
- Revenue
- $30.2m
- Investments
- $0.0
- Employees
- 9
- Location
- Milwaukee, WI
- Founding
- 06/2012
- Data as of
- 12/2022
- EIN
- 45-4675354
Organization Overview
Versiti Inc is located in Milwaukee, WI. The organization was established in 2012. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 12/2022, Versiti Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Versiti 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 Inc generated $30.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 33.0% each year . All expenses for the organization totaled $29.6m during the year ending 12/2022. While expenses have increased by 32.6% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
(SEE SCHEDULE O)VERSITI SUPPORTS CHARITABLE, SCIENTIFIC AND EDUCATIONAL PURPOSES OF ITS AFFILIATES AND OTHER SIMILAR ENTITIES ENGAGED IN BLOOD TRANSFUSION, SERVICES AND RESEARCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VERSITI SUPPORTS VERSITI WISCONSIN, VERSITI ILLINOIS, VERSITI MICHIGAN AND VERSITI INDIANA BY PROVIDING VARIOUS CENTRALIZED MANAGEMENT AND ADMINISTRATIVE FUNCTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Miskel President & CEO | OfficerTrustee | 1 | $0 |
Thomas Hauske Jr Chair | OfficerTrustee | 1 | $0 |
Fred Geilfuss Vice Chair; Legal Advisor | OfficerTrustee | 1 | $0 |
Sherry Husa Secretary | OfficerTrustee | 1 | $0 |
John Perras Treasurer | OfficerTrustee | 1 | $0 |
Coreen Dicus-Johnson JD Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Oracle America Inc Software Support | 12/30/22 | $749,719 |
Ci Design Inc Media Consulting | 12/30/22 | $446,860 |
Grant Thornton Accounting | 12/30/22 | $303,662 |
Title 21 Software Inc Software Support | 12/30/22 | $232,350 |
Ceridian Software Support | 12/30/22 | $223,521 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $30,038,768 |
| Investment income | $81,250 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,002 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,159,533 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $500 |
| Grants and other assistance to domestic individuals. | $105,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,162,512 |
| Fees for services: Accounting | $452,374 |
| Fees for services: Lobbying | $89,956 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $52,872 |
| Fees for services: Other | $2,007,077 |
| Advertising and promotion | $642,158 |
| Office expenses | $13,792 |
| Information technology | $2,252,974 |
| Royalties | $0 |
| Occupancy | $9,287 |
| Travel | $399,714 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $150,933 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $688,984 |
| Insurance | $1,628,127 |
| All other expenses | $42,121 |
| Total functional expenses | $29,578,966 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,328,340 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,787,054 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,810,371 |
| Net Land, buildings, and equipment | $1,617,136 |
| Investments—publicly traded securities | $2,598,527 |
| Investments—other securities | $0 |
| Investments—program-related | $350,000 |
| Intangible assets | $0 |
| Other assets | $229,000 |
| Total assets | $27,720,428 |
| Accounts payable and accrued expenses | $24,902,598 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,467,830 |
| Total liabilities | $27,370,428 |
| Net assets without donor restrictions | $350,000 |
| 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 | $27,720,428 |