Civic Intelligence

Versiti Inc.

990 • Fiscal year 2014 • EIN 45-4675354

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 11, 2015

PO Box 2178 638 North 18th StreetMilwaukee, WI 53201-2178

(414) 933-5000

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

80th percentile

0.54x

Higher debt load relative to assets than 80% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

69th percentile

0.31x

Higher debt load relative to revenue than 69% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

40th percentile

0.0%

Higher net margin than 40% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

100th percentile

$1,617,792

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 120.8% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

96th percentile

119%

Faster asset growth than 96% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

92nd percentile

79%

Faster revenue growth than 92% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Assets

Flat

$767,306

Flat from 2014

Net Assets

Flat

$350,000

Flat from 2014

Liabilities

Flat

$417,306

Flat from 2014

Revenue

Flat

$1,339,595

Flat from 2014

Expenses

Flat

$1,339,595

Flat from 2014

Net Income

Flat

$0

Flat from 2014

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150M$100M$50M$0Assets 2012: $0Liabilities 2012: $02012Assets 2013: $351,000Liabilities 2013: $1,000Net Assets 2013: $350,0002013Assets 2014: $767,306Liabilities 2014: $417,306Net Assets 2014: $350,0002014Assets 2014: $767,306Liabilities 2014: $417,306Net Assets 2014: $350,0002014Assets 2015: $1,407,732Liabilities 2015: $1,057,732Net Assets 2015: $350,0002015Assets 2016: $3,839,216Liabilities 2016: $3,489,216Net Assets 2016: $350,0002016Assets 2017: $5,195,368Liabilities 2017: $4,845,368Net Assets 2017: $350,0002017Assets 2018: $7,341,575Liabilities 2018: $6,991,575Net Assets 2018: $350,0002018Assets 2019: $25,190,336Liabilities 2019: $24,840,336Net Assets 2019: $350,0002019Assets 2020: $34,415,361Liabilities 2020: $34,065,361Net Assets 2020: $350,0002020Assets 2021: $31,675,126Liabilities 2021: $31,325,126Net Assets 2021: $350,0002021Assets 2022: $27,720,428Liabilities 2022: $27,370,428Net Assets 2022: $350,0002022Assets 2023: $35,556,690Liabilities 2023: $35,206,690Net Assets 2023: $350,0002023Assets 2024: $112,462,728Liabilities 2024: $112,112,728Net Assets 2024: $350,0002024

Highlighted filing

2014

Assets$767,306
Liabilities$417,306
Net Assets$350,000

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$40M$30M$20M$10M$0-$10MRevenue 2012: $0Expenses 2012: $0Net Income 2012: $02012Revenue 2013: $750,013Expenses 2013: $400,013Net Income 2013: $350,0002013Revenue 2014: $1,339,595Expenses 2014: $1,339,595Net Income 2014: $02014Revenue 2014: $1,339,595Expenses 2014: $1,339,595Net Income 2014: $02014Revenue 2015: $3,420,613Expenses 2015: $3,420,613Net Income 2015: $02015Revenue 2016: $4,099,478Expenses 2016: $4,099,478Net Income 2016: $02016Revenue 2017: $13,500,398Expenses 2017: $13,500,398Net Income 2017: $02017Revenue 2018: $22,776,609Expenses 2018: $22,776,609Net Income 2018: $02018Revenue 2019: $22,864,445Expenses 2019: $22,905,764Net Income 2019: -$41,3192019Revenue 2020: $21,909,569Expenses 2020: $21,972,152Net Income 2020: -$62,5832020Revenue 2021: $28,432,711Expenses 2021: $28,520,357Net Income 2021: -$87,6462021Revenue 2022: $30,159,533Expenses 2022: $29,578,966Net Income 2022: $580,5672022Revenue 2023: $30,813,451Expenses 2023: $31,251,412Net Income 2023: -$437,9612023Revenue 2024: $33,766,172Expenses 2024: $34,047,426Net Income 2024: -$281,2542024

Highlighted filing

2014

Revenue$1,339,595
Expenses$1,339,595
Net Income$0
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 11, 2015
Return Version
2014v5.0
Gross Receipts
$1,339,595
Mission and Program Overview

Mission

The corporation is formed to support charitable, scientific, & educational purposes of versiti wisconsin, inc., versiti illinois, inc., versiti michigan, inc., versiti indiana, inc., & other similar entities engaged in blood transfusion, services or research.

Support charitable, scientific, & educational purposes of the Bloodcenter of Wisconsin, Inc. & other similar entities engaged in blood transfusion, services or research.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$350,000$350,000→ $0
Accounts Receivable$0$142,761▲ $142,761
Cash and Non-Interest-Bearing Accounts$1,000$142,285▲ $141,285
Prepaid Expenses and Deferred Charges$0$76,260▲ $76,260
Land, Buildings, and Equipment, Net$0$56,000▲ $56,000
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$351,000$767,306▲ $416,306
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$1,000$417,306▲ $416,306
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$1,000$417,306▲ $416,306
Net Assets / Fund Balance
Unrestricted Net Assets$350,000$350,000→ $0
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$350,000$350,000→ $0
Total Liabilities and Net Assets / Fund Balance$351,000$767,306▲ $416,306

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$56,000$0$56,000
Investment Program Related Org$350,000--
Compensation and Service Providers

Employees

NameTitleOtherTotal
John D OliverioBoard Member$380,755$380,755
Jeffrey S McdonaldBoard Member$380,410$380,410
John PerrasBoard Member$341,545$341,545

Board Members and Trustees

NameTitle
Peter ZieglerChairman
Jacquelyn FredrickPresident & CEO
Richard Anderson MdVice Chairman
Richard GallagherVice Chairman
Bill RietschaBoard Member
Chuck DowneyBoard Member
Corey B RubensteinBoard Member
Dale KentBoard Member
Richard J FotschBoard Member
Robert H ManegoldBoard Member
Thomas Hauske JrBoard Member
Maureen KwiecinskiCorporate Assistant Secretary
James M RauhCorporate Secretary
Jeffrey D AllenFormer Exec VP Strategy/CFO
Anthony WatkinsSr VP & CFO
Dennis MestrichTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Sandler Ship LLCIntegration Consult-$269,654
Landor LLCBranding Development-$185,000
Catholic Healthcare Auditinternal audit-$108,535
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,317,646
Investment Income
$21,872
Other Revenue
$77
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,281,928
Salaries, Compensation, and Employee Benefits$57,667
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other-$435,393-$435,393
Advertising-$196,490-$196,490
Insurance-$192,048-$192,048
Fees for Services Accounting-$140,296-$140,296
Fees for Services Legal-$123,167-$123,167
Other Salaries and Wages-$57,667-$57,667
Conferences and Meetings-$46,741-$46,741
Office Expenses-$2,091-$2,091
Other Expenses-$416-$416
Total Functional Expenses$0$1,339,595$0$1,339,595
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI, SECTION A, Line 2

BUSINESS RELATIONSHIP Dale Kent and Peter Ziegler have a business relationship. Part VI, Section A, Line 2 Significant Changes to Governing Documents Centers for Transfusion & Transplant Medicine, Inc. added Michigan Blood as a supported organization to its Amended and Restated Bylaws .

Part VI, SECTION B, Line 11B

FORM 990 REVIEW Centers for Transfusion & Transplant Medicine, Inc. utilizes Grant Thornton LLP to complete the IRS Form 990 and related schedules. Following completion, they are reviewed by the Controller, Sr. Vice President and CFO and the President and CEO. The draft forms are then reviewed by the Compliance and Audit Committee prior to submission to the IRS. The full board is provided a copy of the form 990 prior to filing.

Part VI, SECTION B, Line 12C

Conflicts of interest policy centers for transfusion and transplant medicine, inc. Maintains a written conflict of interest policy. On an annual basis, current directors and officers are asked to complete a disclosure form based on irs requirements that includes the following: whether they have any direct or indirect relationship either through business or family member with bloodcenter of wisconsin. Whether they received compensation from any organization that shares common ownership or control with bloodcenter of wisconsin. Whether they have served as an officer, director, key employee, partner or member of an entity (or shareholder of a professional corporation) doing business with bloodcenter of wisconsin. These answers are accumulated, summarized and evaluated by management to determine if any conflicts exist. Identified conflicts are addressed in accordance with the written policy.

Part VI, SECTION B, Line 15A and 15B

COMPENSATION PROCESS Centers for Transfusion & Transplant Medicine, Inc. does not directly compensate its employees / officers. The filing organization relies on a related entity, BloodCenter of Wisconsin, to facilitate its compensation. The Executive Committee of the BloodCenter of Wisconsin (BCW) Board of Directors, acting in its capacity as the Compensation Committee, sets and monitors the compensation philosophy for the organization. Other than the BCW President & Chief Executive Officer, the Executive/Compensation Committee does not include members of management and is comprised entirely of individuals who do not have a conflict of interest with respect to BCW compensation arrangements. The BCW President & Chief Executive Officer recuses her/himself from all discussions and approvals related to her/his compensation. Executive compensation arrangements are reviewed for reasonableness and approved by the Executive/Compensation Committee annually. The Executive/Compensation Committee assesses the reasonableness of executive compensation arrangements after it obtains and reviews appropriate data for comparability from the Human Resource Department and an independent compensation consultant. The Executive/Compensation Committee engages a qualified independent compensation consultant annually. The independent consultant performs an analysis of compensation levels at regional and national organizations of comparable size, scope and structure and provides the Committee with comprehensive data on the availability of similar services within the geographic area, compensation surveys, written offers from similar institutions, and other information relevant to comparability of compensation. The Executive/Compensation Committee's review, recommendations and approvals are documented concurrently in the Committee minutes, which are subsequently reviewed and approved by the Executive/Compensation Committee as reasonable, accurate and complete. BloodCenter of Wisconsin has an incentive program for Executives, Directors, Management, Investigators and Staff described in detailed written policies approved by the Executive/Compensation Committee annually. Evaluation and Compensation Review -CEO - Each year, the Executive/Compensation Committee evaluates the CEO's performance against established objectives, determines incentive payment and merit increase based upon performance and market data provided by the third party compensation consultant, and works with the CEO to establish objectives for the next year. -Executives - Each year, the Executive/Compensation reviews the performance of each Executive and their individual goals, reviews and approves recommended compensation ranges, and approves final salary and incentive payments. Executives are positioned within the appropriate salary range based on the: -Executive's knowledge, competencies, and experience, -Performance of the Executive's areas of responsibility, -The Executive's contribution to overall BloodCenter of Wisconsin performance, -The importance of retaining the Executive, -Internal equity considerations, -The financial resources available -Executive base salary increases provided in the competitive market

Part VI, section C, Line 19

ORGANIZATION'S DOCUMENTS OPEN TO THE PUBLIC The organization makes its governing documents, conflict of interest policy, and financial statements available upon request to the public. Viewing is done on the organization's premises.

Filing and Contact Details

Filer

Filer Name
Centers for Transfusion & Transplant
EIN
45-4675354
In Care Of
% PAUL MATSON
Phone
4149335000
Address
PO Box 2178 638 North 18th Street, Milwaukee, WI 53201-2178

Signing Officer

Name
Jacquelyn Fredrick
Title
president
Phone
4149335000
Signed
2015-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jacquelyn Fredrick
Formed
2012
Legal Domicile
Wi
Voting Board Members
16
Independent Board Members
13
Employees
0
Volunteers
13

Preparer

Firm
Grant Thornton LLP
Address
100 E Wisconsin Ave, Milwaukee, WI 53202
Preparer
Daniel V Romano
Phone
4142898200
Supplemental Narrative

Additional Explanations

Form 990 Part IX Line 11G

Description:consultant total fees:435123

Form 990 Part IX Line 11G

Description:other fees total fees:270

Financial Statement Notes

Part X

Income Taxes CTTM, BloodCenter, Heartland, Michigan and the Foundation have all received tax determination letters confirming that the organizations qualify as tax-exempt organizations under Section 501(c)(3) of the Internal Revenue Code (the Code). Management believes that there are no material uncertain tax positions that require recognition in the consolidated financial statements. CTTM, BloodCenter, Heartland, Michigan and the Foundation, while generally exempt from income tax, are subject to tax on income unrelated to their exempt purposes, unless that income is otherwise excluded by the Code. BloodCenter and the Foundation have filed federal and State of Wisconsin income tax returns to report unrelated business income through 2009 and are no longer subject to tax authority examinations for years prior to 2009 under the federal and state statute. Management has determined that there is no unrelated business income to report for BloodCenter or the Foundation for 2010 through 2014 and income tax returns are not required to be filed. Therefore, as the statute of limitations will remain open for returns not filed, tax years 2010 through 2014 will remain open to audit for both federal and state purposes. Heartland and Michigan have not historically filed any unrelated business income tax returns, therefore, tax years remain open for years in which an income tax return has not been filed. CTTM has not filed any unrelated business income tax returns, therefore, the years since 2012, the year of inception, are still open to examination. The Organization recognizes, if necessary, interest and penalties related to unrecognized tax benefits in the provision for income taxes. There were no interest or penalties related to income taxes that have been accrued or recognized as of and for the years ended December 31, 2014 and 2013.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt4VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt5CORPORATE SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16CORPORATE ASSISTANT SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt17Sr VP & CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt18Former Exec VP Strategy/CFO
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IRS990/FormationYr02012
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IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
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IRS990/InvestmentsProgramRelatedGrp/EOYAmt0350000
IRS990/InvestmentsPubTradedSecGrp/BOYAmt00
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IRS990/IRPDocumentW2GCnt00
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IRS990/LandBldgEquipCostOrOtherBssAmt056000
IRS990/LegalDomicileStateCd0WI
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IRS990/LoansFromOfficersDirectorsGrp/BOYAmt00
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IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0THE CORPORATION IS FORMED TO SUPPORT CHARITABLE, SCIENTIFIC, & EDUCATIONAL PURPOSES OF BLOODCENTER OF WISCONSIN, INC., AURORA AREA BLOOD BANK, MICHIGAN BLOOD, & OTHER SIMILAR ENTITIES ENGAGED IN BLOOD TRANSFUSION, SERVICES OR RESEARCH.
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetAssetsOrFundBalancesEOYAmt0350000
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IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
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IRS990/PrincipalOfficerNm0Jacquelyn Fredrick
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IRS990/PYTotalProfFndrsngExpnsAmt00
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0true
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IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$112$112$0.35$33.8$34.0$0.28
2023Summary only. Only limited summary data is available for this year.$35.6$35.2$0.35$30.8$31.3$0.44
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.7$27.4$0.35$30.2$29.6$0.58
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$31.7$31.3$0.35$28.4$28.5$0.09
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$34.4$34.1$0.35$21.9$22.0$0.06
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.2$24.8$0.35$22.9$22.9$0.04
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.34$6.99$0.35$22.8$22.8$0.00
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.20$4.85$0.35$13.5$13.5$0.00
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.84$3.49$0.35$4.10$4.10$0.00
2015Summary only. Only limited summary data is available for this year.$1.41$1.06$0.35$3.42$3.42$0.00
2014Detailed filing. Detailed filing data is available for this year.$0.77$0.42$0.35$1.34$1.34$0.00
2014Summary only. Only limited summary data is available for this year.$0.77$0.42$0.35$1.34$1.34$0.00
2013Detailed filing. Detailed filing data is available for this year.$0.35$0.00$0.35$0.75$0.40$0.35
2012Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00