Commonwealth Transfusion Foundation
- Assets
- $29.9m
- Revenue
- $1.5m
- Investments
- $29.2m
- Employees
- 0
- Location
- Glen Allen, VA
- Founding
- 09/1990
- Data as of
- 09/2022
- EIN
- 54-1562993
Organization Overview
Commonwealth Transfusion Foundation is located in Glen Allen, VA. The organization was established in 1990. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Commonwealth Transfusion Foundation 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 09/2022, Commonwealth Transfusion Foundation generated $1.5m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 9.0% each year. All expenses for the organization totaled $2.2m during the year ending 09/2022. While expenses have increased by 14.9% per year over the past 5 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 2015, Commonwealth Transfusion Foundation has awarded 71 individual grants totaling $4,411,816. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
JOURNAL OF BLOOD SERVICE ECONOMICS - FOUNDED THE JOURNAL OF BLOOD SERVICES ECONOMICS AND PUBLISHED THE FIRST EDITION. THE JOURNAL OF BLOOD SERVICES ECONOMICS IS A PEER REVIEW JOURNAL DEVOTED TO PUBLISHING STUDIES RELATED TO ECONOMICS AND MANAGEMENT OF THE US BLOOD INDUSTRY. PRIOR TO THIS THERE WERE NO JOURNALS DEVOTED TO THE BUSINESS ASPECTS OF THE US BLOOD SERVICES INDUSTRY.
SPECIALIST IN BLOOD BANKING (SBB) PROGRAM. IN 1980 THERE WERE 50 SBB PROGRAMS IN THE UNITED STATES. IN 2022 THERE ARE ONLY 6 PROGRAMS OPEN TO THE PUBLIC. AS STATED IN THE COMMISSION ON ACCREDITATION OF ALLIED HEALTH EDUCATION PROGRAMS "INDIVIDUALS BOARD CERTIFIED AS SPECIALISTS IN BLOOD BANKING ARE KNOWLEDGEABLE IN ALL ASPECTS OF BLOOD BANKING, TRANSFUSION MEDICINE, HEMATOPOIETIC, CELLULAR AND GENE THERAPIES, AND TISSUE TRANSPLANTATION. THESE INDIVIDUALS ARE SUBJECT MATTER EXPERTS ON A VARIETY OF SUBJECTS INCLUDING REGULATORY AND QUALITY SYSTEMS, GENETICS, IMMUNOLOGY, BLOOD GROUPS, COLLECTION AND STORAGE OF BLOOD AND COMPONENTS, DONOR PROCESSING, IMMUNE MECHANISMS, COMPONENT THERAPY, TRANSFUSION OF THE NEWBORN, COMPLICATIONS OF TRANSFUSION, GENERAL ADMINISTRATION, PERSONNEL ADMINISTRATION, EDUCATION, AND AUTOMATED DATA PROCESSING. SPECIALISTS IN BLOOD BANKING SERVE IN MANY ROLES WITHIN THE TRANSFUSION MEDICINE FIELD SUCH AS REGULATORY EXPERTS, TECHNICAL/PROCEDURAL ADVISORS, LABORATORY
BLOOD TREATMENT TRENDS IN DEVELOPING COUNTRIES. COMMONWEALTH TRANSFUSION FOUNDATION (CTF) IS WORKING WITH THE ASSOCIATION FOR THE ADVANCEMENT OF BLOOD AND BIOTHERAPIES TO CONDUCT A STUDY TO ASSIST IN ADDRESSING, UNDERSTANDING AND PREDICTING WHICH BLOOD SUPPLY SITES (I.E., HOSPITALS AND BLOOD BANKS) OR COUNTRIES MIGHT BE LIKELY TO ADOPT OR EXPAND BLOOD IRRADIATION CAPABILITIES, AND IF SO, HOW AND WHAT IMPACT ULTRAVIOLET PATHOGEN REDUCTION TECHNOLOGY (UV-PRT) COULD HAVE ON THAT EXPANSION FROM A CLINICAL, OPERATIONAL, AND FINANCIAL PERSPECTIVE. THE STUDY IS BEING CONDUCTED AT THE REQUEST OF THE U.S. OFFICE OF RADIOLOGICAL SECURITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Carden PHD President, C | 40 | $584,517 | |
Freddy Cobb Member | 2 | $0 | |
Randy Beard PHD Member | 1 | $0 | |
Liz Culler MD Treasurer | 1 | $0 | |
William Haugh Mha Vice Chair | 1 | $0 | |
Ron Hall Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $863,633 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $589,812 |
| Capital Gain Net Income | $596,155 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $65,638 |
| Total Revenue | $1,519,083 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $584,517 |
| Other employee salaries and wages | $120,539 |
| Pension plans, employee benefits | $48,887 |
| Interest | $0 |
| Taxes | $19,374 |
| Depreciation | $6,014 |
| Occupancy | $2,344 |
| Travel, conferences, and meetings | $83,621 |
| Printing and publications | $0 |
| Other expenses | $229,777 |
| Total operating and administrative expenses | $1,219,078 |
| Contributions, gifts, grants paid | $968,898 |
| Total expenses and disbursements | $2,187,976 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $561,203 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $86,940 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $29,200,989 |
| Net Land, buildings, and equipment | $3,768 |
| Other assets | $0 |
| Total assets | $29,852,900 |
| Accounts payable and accrued expenses | $13,821 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $161,032 |
| Total liabilities | $174,853 |
Grants Awarded
Over the last fiscal year, Commonwealth Transfusion Foundation has awarded $968,898 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
Mechanicsville, VA PURPOSE: RETIRING OF DEBT AND NAMING OPPORTUN | $600,000 |
VA COMMONWEALTH UNIVERSITY PURPOSE: MLS EDUCATIONAL ASSISTANCE GRANT | $106,000 |
CARILION ROANOKE MEMORIAL HOSPITAL PURPOSE: PURCHASE OF ROTEM INSTRUMENTS | $81,092 |
OLD DOMINION UNIVERSITY PURPOSE: EDUCATIONAL ASSISTANCE PROGRAM | $54,000 |
HEALTHCARE ANALYTICA LLC PURPOSE: TO SUPPORT RESEARCH | $50,000 |
Radford, VA PURPOSE: MLS SCHOLARSHIP | $34,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
C D Spangler Foundation Inc Charlotte, NC | $547,764,463 | $34,692,558 |
De Beaumont Foundation Inc Bethesda, MD | $183,698,152 | $47,357,470 |
Haslam Family Foundation Inc Knoxville, TN | $7,594,271 | $428,205 |
Foundation For The Greatest Good Fulton, MD | $11,551,864 | $19,462,876 |
Young Mens Christian Association Of The Chesapeake Inc Easton, MD | $84,208,847 | $28,289,184 |
The Ezrah Charitable Trust Charlotte, NC | $259,414,844 | $89,054,665 |
Robert E And Jenny D Kirkland Foundation Union City, TN | $287,925,102 | $17,113,043 |
Speer Foundation Brentwood, TN | $160,979,713 | $8,246,449 |
The Haslam 3 Foundation Inc Knoxville, TN | $5,285,692 | $10,045,433 |
Laszlo N Tauber Family Foundation Inc North Bethesda, MD | $0 | $1,758,712 |
Breakthrough Prize In Life Sciences Foundation Washington, DC | $615,230 | $10,652,847 |
Scarlett Family Foundation Nashville, TN | $163,054,305 | $18,551,241 |