Medic Inc
- Assets
- $27.2m
- Revenue
- $20.1m
- Investments
- $0.0
- Employees
- 172
- Location
- Knoxville, TN
- Founding
- 03/1981
- Data as of
- 04/2021
- EIN
- 62-0598756
Organization Overview
Medic Inc, operating under the name Medic Regional Blood Center, is located in Knoxville, TN. The organization was established in 1981. 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 04/2021, Medic Regional Blood Center employed 172 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Medic Regional Blood Center 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 04/2021, Medic Regional Blood Center generated $20.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $17.2m during the year ending 04/2021. While expenses have increased by 0.2% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENHANCE THE WELL-BEING OF OUR COMMUNITY BY PROVIDING A SAFE, ADEQUATE AND ECONOMICAL SUPPLY OF BLOOD AND BLOOD RELATED PRODUCTS AND SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLECTION, PROCESSING AND DISTRIBUTION OF BLOOD PRODUCTS AND COMPONENTS AND RELATED SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James L Decker CEO | Officer | 40 | $307,310 |
Tom Watkins DO Cmo | Officer | 40 | $239,263 |
Debbie Carper CFO | Officer | 40 | $167,947 |
Martha Cox Cqo | Officer | 40 | $141,857 |
Tracie Savage Director Of Donor Services | 40 | $134,407 | |
Stephen Smith Manager Lab Process And Co | 40 | $111,255 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Creative Testing Solutions Lab Testing Services | 4/29/21 | $2,085,473 |
Priority Delivery Inc Courier Delivery Expense | 4/29/21 | $307,167 |
Gpi Usa Inc Software Support/maintenance | 4/29/21 | $159,355 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $507,912 |
| Investment income | $370,471 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $80,855 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,082,325 |
| Statement of Expenses | |
|---|---|
| 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. | $990,784 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,590,887 |
| Pension plan accruals and contributions | $167,790 |
| Other employee benefits | $932,428 |
| Payroll taxes | $435,390 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $48,400 |
| Fees for services: Accounting | $30,730 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $385,455 |
| Advertising and promotion | $0 |
| Office expenses | $345,657 |
| Information technology | $214,567 |
| Royalties | $0 |
| Occupancy | $367,963 |
| Travel | $557 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,250 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $475,265 |
| Insurance | $153,370 |
| All other expenses | $0 |
| Total functional expenses | $17,172,666 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $521,019 |
| Savings and temporary cash investments | $3,151,706 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,203,704 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $348,953 |
| Prepaid expenses and deferred charges | $281,554 |
| Investments—publicly traded securities | $15,199,810 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $371,961 |
| Total assets | $27,172,218 |
| Accounts payable and accrued expenses | $2,702,316 |
| Grants payable | $0 |
| Deferred revenue | $15,556 |
| 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 | $0 |
| Total liabilities | $2,717,872 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $24,454,346 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Medic Inc has recieved totaling $31.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $31 |
Endowment Analysis
| Beg. Balance | $2,000 |
| Ending Balance | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Blood Assurance Inc Chattanooga, TN | $35,720,753 | $39,790,129 |
Kentucky Blood Center Inc Lexington, KY | $45,903,202 | $36,301,055 |
Mississippi Blood Services Inc Flowood, MS | $18,677,236 | $21,854,166 |
Medic Inc Knoxville, TN | $27,172,218 | $20,082,325 |
Community Blood Center Of The Ozarks Springfield, MO | $29,264,230 | $16,189,941 |
Walter L Shepeard Community Blood Center Inc Augusta, GA | $11,216,147 | $12,429,097 |
West Tenn Regional Blood Center Inc Jackson, TN | $12,478,368 | $10,176,969 |
Western Kentucky Regional Blood Center Inc Owensboro, KY | $3,296,168 | $3,404,497 |
South Central Association Of Blood Banks Lexington, KY | $202,047 | $265,009 |
Lloyd-Goodwin Foundation Inc Suwanee, GA | $312,540 | $4,041 |