Commonwealth Transfusion Foundation
- Assets
- $31.6m
- Revenue
- $7.6m
- Investments
- $31.0m
- Employees
- 0
- Location
- Glen Allen, VA
- Founding
- 09/1990
- Data as of
- 09/2023
- 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 09/2023, Commonwealth Transfusion Foundation generated $7.6m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 33.9% each year . All expenses for the organization totaled $2.2m during the year ending 09/2023. While expenses have increased by 1.9% per year over the past 4 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 76 individual grants totaling $4,132,751. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
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
CESIUM PROJECT WITH AABB - DURING FYE 2023 COMPLETED PROJECT WITH AABB TO BUILD CASE FOR ALTERNATIVES TO CESIUIM FOR PATHOGEN REDUCTION IN DEVELOPING NATIONS. VISITED ZAMBIA WITH RESEARCH TEAM FOR FINAL DATA COLLECTIONS, AND TO COMPLETE FINAL REPORT. FINAL REPORT COMPLETED AND SUBMITTED IN JUNE 2023. PROJECT IS COMPLETED.
CELLULAR THERAPY CERTIFICATION - AT THE REQUEST OF KEY BLOOD INDUSTRY REPRESENTATIVES, CTF BEGAN INVESTIGATION OF A PROGRAM TO TRAIN AND CERTIFY BLOOD CENTER STAFF TO MEET THE DEMAND CREATED BY CELLULAR THERAPIES. CTF HOSTED A PLANNING SESSION IN JULY 2023 FOR THE INDUSTRY. CTF HAS FOLLOWED UP ON THE RECOMMENDATIONS FROM THAT MEETING BY CREATING AND ISSUING RFP FOR PROGRAM DEVELOPMENT. THIS PROJECT WILL CONTINUE INTO FYE 2024.
CELLULAR THERAPY CERTIFICATION - AT THE REQUEST OF KEY BLOOD INDUSTRY REPRESENTATIVES, CTF BEGAN INVESTIGATION OF A PROGRAM TO TRAIN AND CERTIFY BLOOD CENTER STAFF TO MEET THE DEMAND CREATED BY CELLULAR THERAPIES. CTF HOSTED A PLANNING SESSION IN JULY 2023 FOR THE INDUSTRY. CTF HAS FOLLOWED UP ON THE RECOMMENDATIONS FROM THAT MEETING BY CREATING AND ISSUING RFP FOR PROGRAM DEVELOPMENT. THIS PROJECT WILL CONTINUE INTO FYE 2024.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joe Fielden Chair | 1 | $0 | |
William Haugh Mha Vice Chair | 1 | $0 | |
Ron Hall Secretary | 1 | $0 | |
Liz Culler MD Treasurer | 1 | $0 | |
Freddy Cobb Member | 1 | $0 | |
Randy Beard PHD Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $10 |
| Dividends & Interest | $725,502 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $6,837,568 |
| Capital Gain Net Income | $6,837,568 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $22,331 |
| Total Revenue | $7,585,411 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $605,714 |
| Other employee salaries and wages | $139,393 |
| Pension plans, employee benefits | $48,238 |
| Interest | $0 |
| Taxes | $104,008 |
| Depreciation | $5,028 |
| Occupancy | $3,185 |
| Travel, conferences, and meetings | $29,079 |
| Printing and publications | $0 |
| Other expenses | $349,132 |
| Total operating and administrative expenses | $1,466,661 |
| Contributions, gifts, grants paid | $739,595 |
| Total expenses and disbursements | $2,206,256 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $411,531 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $141,807 |
| 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 | $67,061 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $30,967,489 |
| Net Land, buildings, and equipment | $7,517 |
| Other assets | $0 |
| Total assets | $31,595,405 |
| Accounts payable and accrued expenses | $33,016 |
| 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 | $140,543 |
| Total liabilities | $173,559 |
Grants Awarded
Over the last fiscal year, Commonwealth Transfusion Foundation has awarded $739,595 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
VA COMMONWEALTH UNIVERSITY PURPOSE: MLS EDUCATIONAL ASSISTANCE GRANT | $181,750 |
OLD DOMINION UNIVERSITY PURPOSE: EDUCATIONAL ASSISTANCE PROGRAM | $75,500 |
RADFORD UNIVERSITY FOUNDATION PURPOSE: MLS SCHOLARSHIP | $58,750 |
AUGUSTA HEALTH FOUNDATION PURPOSE: MLS SCHOLARSHIP | $9,500 |
THEMISTOCLIS KARAOLI PURPOSE: AABB SCHOLARSHIP | $1,188 |
KIMBERLY ROSE PURPOSE: AABB SCHOLARSHIP | $1,025 |