Civic Intelligence

Lifenet Health

EIN 52-1273592 • 501(c)3 • Virginia Beach, VA

Profile

As a leader in organ and tissue transplantation, research and education, saving lives, restoring health and giving hope is our mission.

1864 Concert DriveVirginia Beach, VA 23453

www.lifenethealth.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

59th percentile

0.38x

Higher debt load relative to assets than 59% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

45th percentile

0.42x

Higher debt load relative to revenue than 45% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Net Margin

46th percentile

3.0%

Higher net margin than 46% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

95th percentile

$4,117,970

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Asset Growth

30th percentile

2.1%

Faster asset growth than 30% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Revenue Growth

59th percentile

12%

Faster revenue growth than 59% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Assets

Up

$650,791,984

Up $13,073,941 (+2.1%) from 2023

Liabilities

Down

$249,726,982

Down $7,977,628 (-3.1%) from 2023

Net Assets

Up

$401,065,002

Up $21,051,569 (+5.5%) from 2023

Revenue

Up

$598,564,898

Up $63,086,599 (+12%) from 2023

Expenses

Up

$580,539,536

Up $60,292,322 (+12%) from 2023

Net Income

Up

$18,025,362

Up $2,794,277 (+18%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$800M$600M$400M$200M$0Assets 2010: $157,167,272Liabilities 2010: $66,188,011Net Assets 2010: $90,979,2612010Assets 2011: $180,025,290Liabilities 2011: $84,207,796Net Assets 2011: $95,817,4942011Assets 2012: $185,463,893Liabilities 2012: $79,562,586Net Assets 2012: $105,901,3072012Assets 2013: $204,125,905Liabilities 2013: $88,769,606Net Assets 2013: $115,356,2992013Assets 2014: $217,916,381Liabilities 2014: $106,238,472Net Assets 2014: $111,677,9092014Assets 2015: $248,544,417Liabilities 2015: $115,506,874Net Assets 2015: $133,037,5432015Assets 2016: $326,479,160Liabilities 2016: $129,527,930Net Assets 2016: $196,951,2302016Assets 2017: $373,178,088Liabilities 2017: $136,467,255Net Assets 2017: $236,710,8332017Assets 2018: $402,809,361Liabilities 2018: $135,154,394Net Assets 2018: $267,654,9672018Assets 2019: $434,579,803Liabilities 2019: $140,993,242Net Assets 2019: $293,586,5612019Assets 2020: $503,270,241Liabilities 2020: $174,048,406Net Assets 2020: $329,221,8352020Assets 2021: $516,500,222Liabilities 2021: $161,617,124Net Assets 2021: $354,883,0982021Assets 2022: $551,891,048Liabilities 2022: $189,315,779Net Assets 2022: $362,575,2692022Assets 2023: $637,718,043Liabilities 2023: $257,704,610Net Assets 2023: $380,013,4332023Assets 2024: $650,791,984Liabilities 2024: $249,726,982Net Assets 2024: $401,065,0022024

Highlighted filing

2024

Assets$650,791,984
Liabilities$249,726,982
Net Assets$401,065,002

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600M$400M$200M$0Expenses 2010: $139,895,2512010Expenses 2011: $149,432,6642011Expenses 2012: $171,637,0052012Revenue 2013: $210,955,289Expenses 2013: $203,765,820Net Income 2013: $7,189,4692013Revenue 2014: $210,059,963Expenses 2014: $209,144,869Net Income 2014: $915,0942014Revenue 2015: $260,188,283Expenses 2015: $240,800,853Net Income 2015: $19,387,4302015Revenue 2016: $352,554,205Expenses 2016: $289,255,742Net Income 2016: $63,298,4632016Revenue 2017: $376,123,942Expenses 2017: $336,221,824Net Income 2017: $39,902,1182017Revenue 2018: $418,564,024Expenses 2018: $386,000,217Net Income 2018: $32,563,8072018Revenue 2019: $441,142,112Expenses 2019: $418,080,406Net Income 2019: $23,061,7062019Revenue 2020: $407,112,272Expenses 2020: $376,365,281Net Income 2020: $30,746,9912020Revenue 2021: $455,372,311Expenses 2021: $434,702,789Net Income 2021: $20,669,5222021Revenue 2022: $456,633,012Expenses 2022: $443,032,293Net Income 2022: $13,600,7192022Revenue 2023: $535,478,299Expenses 2023: $520,247,214Net Income 2023: $15,231,0852023Revenue 2024: $598,564,898Expenses 2024: $580,539,536Net Income 2024: $18,025,3622024

Highlighted filing

2024

Revenue$598,564,898
Expenses$580,539,536
Net Income$18,025,362

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$651$250$401$599$581$18.0
2023Detailed filing. Detailed filing data is available for this year.$638$258$380$535$520$15.2
2022Detailed filing. Detailed filing data is available for this year.$552$189$363$457$443$13.6
2021Detailed filing. Detailed filing data is available for this year.$517$162$355$455$435$20.7
2020Detailed filing. Detailed filing data is available for this year.$503$174$329$407$376$30.7
2019Detailed filing. Detailed filing data is available for this year.$435$141$294$441$418$23.1
2018Detailed filing. Detailed filing data is available for this year.$403$135$268$419$386$32.6
2017Detailed filing. Detailed filing data is available for this year.$373$136$237$376$336$39.9
2016Detailed filing. Detailed filing data is available for this year.$326$130$197$353$289$63.3
2015Detailed filing. Detailed filing data is available for this year.$249$116$133$260$241$19.4
2014Detailed filing. Detailed filing data is available for this year.$218$106$112$210$209$0.92
2013Detailed filing. Detailed filing data is available for this year.$204$88.8$115$211$204$7.19
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$185$79.6$106$172
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$180$84.2$95.8$149
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$157$66.2$91.0$140
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 3, 2025
Return Version
2024v5.2
Gross Receipts
$768,516,495
Mission and Program Overview

Mission

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Inventories for Sale or Use$244,490,895$239,878,664▼ $4,612,231
Land, Buildings, and Equipment, Net$86,528,697$86,813,679▲ $284,982
Accounts Receivable$70,499,419$76,727,496▲ $6,228,077
Investments in Publicly Traded Securities$51,547,317$52,844,777▲ $1,297,460
Intangible Assets$49,946,529$44,428,802▼ $5,517,727
Savings and Temporary Cash Investments$27,574,275$37,906,773▲ $10,332,498
Cash and Non-Interest-Bearing Accounts$19,865,496$17,730,808▼ $2,134,688
Prepaid Expenses and Deferred Charges$6,502,696$8,705,029▲ $2,202,333
Investments Program Related$5,116,477$5,116,477→ $0
Investments Other Securities$8,611,981$4,097,775▼ $4,514,206
Other Notes and Loans Receivable, Net$250,000$200,000▼ $50,000
Total Assets$637,718,043$650,791,984▲ $13,073,941
Other Assets Total$66,784,261$76,341,704▲ $9,557,443
Liabilities
Accounts Payable and Accrued Expenses$118,743,895$111,753,722▼ $6,990,173
Unsecured Notes Loans Payable$70,650,000$74,150,000▲ $3,500,000
Other Liabilities$48,219,426$43,178,710▼ $5,040,716
Tax Exempt Bond Liabilities$18,210,000$16,980,000▼ $1,230,000
Deferred Revenue$1,881,289$3,664,550▲ $1,783,261
Total Liabilities$257,704,610$249,726,982▼ $7,977,628
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$380,013,433$401,065,002▲ $21,051,569
Total Net Assets Fund Balance$380,013,433$401,065,002▲ $21,051,569
Total Liabilities and Net Assets / Fund Balance$637,718,043$650,791,984▲ $13,073,941

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$42,830,380$78,003,711$120,834,091
Buildings$21,709,728$31,256,548$52,966,276
Leasehold Improvements$16,986,196$17,796,991$34,783,187
Land$4,935,348-$4,935,348
Other Land Buildings$352,027$3,216,166$3,568,193
Other Assets Org$15,536,018--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mr Rony ThomasCEOFT$1,129,919$2,988,051$4,117,970
Mr Douglas WilsonExecutive VPFT$548,573$636,120$1,184,693
Mr Alan BortnickChief Administrative OfficerFT$389,884$538,394$928,278
Mr Daniel OsborneChief Growth OfficerFT$395,625$524,097$919,722
Mr Michael PooleEvp, Global OperationsFT$362,958$513,914$876,872
Mr James BibbsChief Human Resources OfficerFT$356,146$509,921$866,067
Mr J Philip JonesVP/secretary/CFOFT$404,554$384,959$789,513
Mr Darrell JesseeVP, Ls Commercial OperationsFT$371,269$382,763$754,032
Dr John HerreChairman-$55,000-$55,000
Dr Lee RileyDirector-$36,500-$36,500
Dr Adam LandsmanDirector-$27,500-$27,500
Dr John CardeaVice Chairman-$27,500-$27,500
Dr Kevin BonnerDirector-$27,500-$27,500
Dr Lenneal HendersonDirector-$27,500-$27,500
Dr Mark ReynoldsDirector-$27,500-$27,500
Mr F Blair WimbushDirector-$27,500-$27,500
Mrs Linda CrossDirector-$27,500-$27,500
Mrs Yvonne WildDirector-$27,500-$27,500
Rev Jonathan BartonDirector-$27,500-$27,500
Dr Gerald BowersDirector (ended 11/02/24)-$26,000-$26,000

Highest Paid Contractors

ContractorServicesLocationCompensation
Depuy Orthopaedics INCProduct Representation700 ORTHOPAEDIC DRIVE, Warsaw, IN 46582$66,957,890
Arthrex INCProduct Representation1370 CREEKSIDE BLVD, Naples, FL 34108$34,529,222
Avid Medical INCMedical Supplies9000 WESTMOUNT DRIVE, Toano, VA 23168$10,157,732
American Foundation For Donation & TransOrgan Recovery8154 FOREST HILL AVE, Richmond, VA 23235$7,604,886
Center For Organ Recovery & EducationOrgan Recovery204 SIGMA DRIVE, Pittsburgh, PA 15238$7,203,345
Revenue and Support

Revenue Composition

Contributions and Grants
$175,716
Program Service Revenue
$587,707,741
Investment Income
$3,602,675
Other Revenue
$7,078,766
Change in Net Assets
$18,025,362
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$384,215,297
Salaries, Compensation, and Employee Benefits$196,223,115
Grants and Similar Amounts Paid$101,124
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$184,818,554$2,609,225-$187,427,779
Other Salaries and Wages$128,929,292$19,002,792-$147,932,084
Other Expenses$20,997,939$1,757,838-$22,755,777
Other Employee Benefits$18,964,829$2,613,113-$21,577,942
All Other Expenses$15,986,708$4,975,913-$20,962,621
Information Technology$66,129$13,988,837-$14,054,966
Depreciation Depletion$5,325,222$7,961,926-$13,287,148
Occupancy$5,971,667$7,257,779-$13,229,446
Payroll Taxes$8,860,706$1,362,230-$10,222,936
Pension Plan Contributions$8,908,533$1,107,818-$10,016,351
Travel$7,073,274$482,006-$7,555,280
Current Officers, Directors, Trustees, and Key Employees-$6,473,802-$6,473,802
Interest-$5,903,099-$5,903,099
Insurance$34,422$3,305,597-$3,340,019
Fees for Services Legal$33,265$2,541,310-$2,574,575
Conferences and Meetings$1,000,507$501,796-$1,502,303
Office Expenses$1,176,982$306,342-$1,483,324
Fees for Services Accounting-$422,880-$422,880
Advertising$339,953--$339,953
Fees for Service Investment Mgmnt Fees-$211,754-$211,754
Grants to Domestic Orgs$101,124--$101,124
Total Functional Expenses$496,197,866$84,341,670$0$580,539,536
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Cornerstone FoundationSuperior, CO501(c)(3)Tissues Donated for Surgical Procedures$0
Standing StraightOrinda, CA501(c)(3)Tissues Donated for Surgical Procedures$0
World Pediatric ProjectRichmond, VA501(c)(3)Tissues Donated for Surgical Procedures$0

International Summary

Offices
0
Employees
10
Spending
$1,154,516

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
North AmericaProgram ServicesSales Representation04$475,052
South AmericaProgram ServicesSales Representation02$266,715
Middle East and North AfricaProgram ServicesSales Representation01$235,500
South AsiaProgram ServicesSales Representation03$177,249
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Payable$35,624,377
Finance Lease Payable$4,872,459
Other Liabilities$2,564,356
Fair Value of Interest Rate Swap$117,518

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACity of Virginia Beach Development Authority2010-12-21$30,000,000New facilities & other capital

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$30,000,000$17,910,000$13,020,000$431,500

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
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

Form 990, Part VI, Section B, Line 11B

990 review the company contracts with an independent accounting firm to complete the 990. The 990 is reviewed by the cfo and ceo prior to filing with the irs. The 990 is approved by the chairman of the board of directors as proxy for the full board per resolution of the board. Distribution of the 990 is transmitted to the full board before filing.

Form 990, Part VI, Section B, Line 12C

Conflict of interest policy the company has a conflict of interest policy (ga-120-011) designed to protect the company's interest when it is entering or contemplating entry into a transaction that might benefit the interest of its members. The policy covers all interested persons who are defined as any principal officer, board member, employee and their immediate family, and third parties that are involved in the decision making process and has a direct or indirect financial interest. Upon commencement and annually thereafter, all employees must complete a "conflict of interest questionnaire and update whenever employee affiliations change. After disclosure of the financial interest, the compliance officer will investigate and determine the final actions necessary to address the conflict. Form 990, part vi, section b, line 13: whistleblower policy the company has a whistleblower policy (ga-120-012) designed to promote and enable employees to raise issues internally before seeking resolution outside of the organization.

Form 990, Part VI, Section B, Line 15

Compensation compensation ranges for officers, key employees and management are reviewed by an independent compensation consultant at least annually. The consultant provides comparative salary for the industry for all positions within the company. The independent board reviews the salary information and/or at risk compensation provided by the consultant and sets compensation for the ceo and documents its decisions contemporaneously in the form of board minutes.

Form 990, Part VI, Section C, Line 19

Public disclosure of financial statements, etc. The company does not make its audited financial statements, conflict of interest policy or governing documents available to the public.

FORM 990, PART VI, LINE 8A:

Board meetings the bod members met on the following dates: april 24, 2024, august 7, 2024 & november 02, 2024. The minutes of the meetings are documented and stored electronically. Form 990, part vi, line 10a: local chapters & affiliates lifenet health has no local chapters, branches, or affiliates.

Filing and Contact Details

Filer

Filer Name
Lifenet Health
EIN
52-1273592
Phone
7574644761
Address
1864 CONCERT DRIVE, VIRGINIA BEACH, VA 23453

Signing Officer

Name
J Philip Jones
Title
Secretary/CFO
Phone
7574644761
Signed
2025-11-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rony Thomas
Formed
1982
Legal Domicile
Va
Voting Board Members
12
Independent Board Members
11
Employees
1,721
Volunteers
105

Preparer

Firm
Kpmg Llp
Address
8350 BROAD STREET SUITE 900, MCLEAN, VA 22102
Preparer
Brian Kearns
Phone
7032868000
Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 1:

Lifenet health, established in 1982, is a non-profit life sciences organization that provides allografts for use in most surgical disciplines; facilitates organ donation and transplantation; provides donated cells and tissues for biomedical research; and serves as a source of public advocacy and education for organ and tissue donation. Lifenet health is one of the world's largest providers of allograft biologics, distributing more than 1,349,729 in 2024. Lifenet health is the federally designated organ procurement organization for most of virginia, as well as areas of north carolina and west virginia. In 2024, lifenet health facilitated 788 organ transplants. Lifenet health collaborates with hospitals and tissue recovery partners across the country to serve the needs of hospitals and patients around the globe. Lifenet health has developed key innovations such as proprietary and patented cleaning, decellularization, and composite allograft technologies. Lifenet health's global headquarters is located in virginia beach, virginia with additonal facilities throughout the united states. Lifenet health's mission statement is "saving lives. Restoring health. Giving hope." please visit our website to learn more about our mission, www.lifenethealth.org.

FORM 990, PART III, LINE 1:

Lifenet health, established in 1982, is a non-profit life sciences organization that provides allografts for use in most surgical disciplines; facilitates organ donation and transplantation; provides donated cells and tissues for biomedical research; and serves as a source of public advocacy and education for organ and tissue donation. Lifenet health is one of the world's largest providers of allograft biologics, distributing more than 1,349,729 in 2024. Lifenet health is the federally designated organ procurement organization for most of virginia, as well as areas of north carolina and west virginia. In 2024, lifenet health facilitated 788 organ transplants. Lifenet health collaborates with hospitals and tissue recovery partners across the country to serve the needs of hospitals and patients around the globe. Lifenet health has developed key innovations such as proprietary and patented cleaning, decellularization, and composite allograft technologies. Lifenet health's global headquarters is located in virginia beach, virginia with additonal facilities throughout the united states. Lifenet health's mission statement is "saving lives. Restoring health. Giving hope." please visit our website to learn more about our mission, www.lifenethealth.org.

Form 990, Part IX, Line 11G

Commissions: program service expenses 128,021,218. Management and general expenses 0. Fundraising expenses 0. Total expenses 128,021,218. Organ: program service expenses 52,243,264. Management and general expenses 0. Fundraising expenses 0. Total expenses 52,243,264. Other professional: program service expenses 4,554,072. Management and general expenses 2,609,225. Fundraising expenses 0. Total expenses 7,163,297.

FORM 990, PART XI, LINE 9:

Change in fv of interest rate swap -145,957.

Financial Statement Notes

PART X, LINE 2:

The company applies the provisions of fasb asc 740, income taxes, in accounting for uncertainty in income taxes. Asc 740 provides guidance on when tax positions are recognized in an entity's financial statements and how the values of these positions are determined. There is currently no impact on the consolidated financial statements as a result of the application of asc 740.

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IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt3AMERICAN FOUNDATION FOR DONATION & TRANS
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IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
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