Civic Intelligence

Bloodworks

EIN 91-1019655 • 501(c)3 • Seattle, WA

Profile

Saving lives through research, innovation, education and excellence in blood, medical and laboratory services in partnership with our community.

921 Terry AvenueSeattle, WA 98104-1256

www.bloodworksnw.org

Siviq Scores

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

Liabilities / Assets

50th percentile

0.26x

Higher debt load relative to assets than 50% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

27th percentile

0.18x

Higher debt load relative to revenue than 27% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Net Margin

32nd percentile

-0.1%

Higher net margin than 32% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

80th percentile

$1,007,300

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

501(c)3 • $100M-$250M nonprofits • Source year 2024

Asset Growth

22nd percentile

-0.4%

Faster asset growth than 22% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

36th percentile

3.6%

Faster revenue growth than 36% of similar nonprofits.

501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Down

$112,280,040

Down $436,574 (-0.4%) from 2023

Liabilities

Down

$28,747,511

Down $2,974,561 (-9.4%) from 2023

Net Assets

Up

$83,532,529

Up $2,537,987 (+3.1%) from 2023

Revenue

Up

$159,823,247

Up $5,575,846 (+3.6%) from 2023

Expenses

Up

$160,043,520

Up $9,667,028 (+6.4%) from 2023

Net Income

Down

-$220,273

Down $4,091,182 (-106%) from 2023

Trend Graphs

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2010: $113,619,467Liabilities 2010: $44,817,229Net Assets 2010: $68,802,2382010Assets 2011: $125,522,597Liabilities 2011: $46,801,062Net Assets 2011: $78,721,5352011Assets 2012: $123,331,145Liabilities 2012: $46,223,205Net Assets 2012: $77,107,9402012Assets 2013: $129,109,846Liabilities 2013: $54,367,061Net Assets 2013: $74,742,7852013Assets 2014: $132,304,821Liabilities 2014: $53,495,276Net Assets 2014: $78,809,5452014Assets 2015: $138,760,482Liabilities 2015: $52,219,505Net Assets 2015: $86,540,9772015Assets 2016: $140,073,386Liabilities 2016: $54,481,038Net Assets 2016: $85,592,3482016Assets 2017: $147,198,662Liabilities 2017: $48,339,588Net Assets 2017: $98,859,0742017Assets 2018: $147,232,810Liabilities 2018: $54,054,758Net Assets 2018: $93,178,0522018Assets 2019: $139,133,799Liabilities 2019: $48,805,558Net Assets 2019: $90,328,2412019Assets 2020: $124,042,323Liabilities 2020: $54,214,732Net Assets 2020: $69,827,5912020Assets 2021: $105,722,670Liabilities 2021: $25,451,520Net Assets 2021: $80,271,1502021Assets 2022: $100,462,161Liabilities 2022: $25,552,071Net Assets 2022: $74,910,0902022Assets 2023: $112,716,614Liabilities 2023: $31,722,072Net Assets 2023: $80,994,5422023Assets 2024: $112,280,040Liabilities 2024: $28,747,511Net Assets 2024: $83,532,5292024

Highlighted filing

2024

Assets$112,280,040
Liabilities$28,747,511
Net Assets$83,532,529

Operations Trend

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

$300M$200M$100M$0-$100MExpenses 2010: $148,835,3412010Expenses 2011: $154,032,7262011Expenses 2012: $159,402,3072012Expenses 2013: $155,044,8102013Revenue 2014: $162,925,008Expenses 2014: $161,521,740Net Income 2014: $1,403,2682014Revenue 2015: $175,719,118Expenses 2015: $166,263,363Net Income 2015: $9,455,7552015Revenue 2016: $180,862,852Expenses 2016: $180,800,638Net Income 2016: $62,2142016Revenue 2017: $191,664,483Expenses 2017: $181,195,101Net Income 2017: $10,469,3822017Revenue 2018: $197,932,308Expenses 2018: $203,735,067Net Income 2018: -$5,802,7592018Revenue 2019: $209,722,936Expenses 2019: $213,177,157Net Income 2019: -$3,454,2212019Revenue 2020: $198,443,552Expenses 2020: $213,969,320Net Income 2020: -$15,525,7682020Revenue 2021: $185,761,026Expenses 2021: $173,456,707Net Income 2021: $12,304,3192021Revenue 2022: $134,313,338Expenses 2022: $136,370,220Net Income 2022: -$2,056,8822022Revenue 2023: $154,247,401Expenses 2023: $150,376,492Net Income 2023: $3,870,9092023Revenue 2024: $159,823,247Expenses 2024: $160,043,520Net Income 2024: -$220,2732024

Highlighted filing

2024

Revenue$159,823,247
Expenses$160,043,520
Net Income-$220,273

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$112$28.7$83.5$160$160$0.22
2023Detailed filing. Detailed filing data is available for this year.$113$31.7$81.0$154$150$3.87
2022Detailed filing. Detailed filing data is available for this year.$100$25.6$74.9$134$136$2.06
2021Detailed filing. Detailed filing data is available for this year.$106$25.5$80.3$186$173$12.3
2020Detailed filing. Detailed filing data is available for this year.$124$54.2$69.8$198$214$15.5
2019Detailed filing. Detailed filing data is available for this year.$139$48.8$90.3$210$213$3.45
2018Detailed filing. Detailed filing data is available for this year.$147$54.1$93.2$198$204$5.80
2017Detailed filing. Detailed filing data is available for this year.$147$48.3$98.9$192$181$10.5
2016Detailed filing. Detailed filing data is available for this year.$140$54.5$85.6$181$181$0.06
2015Summary only. Only limited summary data is available for this year.$139$52.2$86.5$176$166$9.46
2014Detailed filing. Detailed filing data is available for this year.$132$53.5$78.8$163$162$1.40
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$129$54.4$74.7$155
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$123$46.2$77.1$159
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$126$46.8$78.7$154
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$114$44.8$68.8$149
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 8, 2025
Return Version
2023v6.0
Gross Receipts
$164,192,632
Mission and Program Overview

Mission

Saving lives through research, innovation, education and excellence in blood, medical and laboratory services in partnership with our community.

Saving lives through research, innovation, education & excellence in blood, medical & lab services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$34,226,015$34,651,173▲ $425,158
Investments in Publicly Traded Securities$25,790,711$29,206,727▲ $3,416,016
Accounts Receivable$16,926,048$20,902,968▲ $3,976,920
Savings and Temporary Cash Investments$12,400,184$6,085,407▼ $6,314,777
Inventories for Sale or Use$3,139,975$3,450,077▲ $310,102
Prepaid Expenses and Deferred Charges$2,541,527$2,484,837▼ $56,690
Pledges and Grants Receivable$1,376,608$1,835,117▲ $458,509
Investments Program Related$525,000$525,000→ $0
Total Assets$112,716,614$112,280,040▼ $436,574
Other Assets Total$15,790,546$13,138,734▼ $2,651,812
Liabilities
Accounts Payable and Accrued Expenses$15,356,958$14,842,759▼ $514,199
Other Liabilities$16,060,953$13,787,323▼ $2,273,630
Unsecured Notes Loans Payable$150,663$77,025▼ $73,638
Deferred Revenue$153,498$40,404▼ $113,094
Total Liabilities$31,722,072$28,747,511▼ $2,974,561
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$76,538,172$78,951,381▲ $2,413,209
Net Assets With Donor Restrictions$4,456,370$4,581,148▲ $124,778
Total Net Assets Fund Balance$80,994,542$83,532,529▲ $2,537,987
Total Liabilities and Net Assets / Fund Balance$112,716,614$112,280,040▼ $436,574

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$20,490,158$42,327,621$62,817,779
Equipment$6,238,355$50,772,348$57,010,703
Other Land Buildings$3,017,410$8,394,114$11,411,524
Leasehold Improvements$3,395,363$5,820,690$9,216,053
Land$1,509,887-$1,509,887
Other Assets Org$13,138,734--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$3,563,103$12,000▲ $428,906$348,584$3,655,425
2022$3,192,072$12,000▲ $359,031-$3,563,103
2021$3,372,908$252,677▼ $433,513-$3,192,072
2020$3,357,519$12,000▲ $285,917$282,528$3,372,908
2019$3,342,638$12,000▲ $250,073$247,192$3,357,519
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Curt BaileyPresident & CEOFT$824,045$183,255$1,007,300
Vicki FinsonExecutive Vice President (thru 7/23)FT$188,446$288,311$476,757
Jose Lopez MdChief Scientific OfficerFT$388,721$58,387$447,108
David Lin MdVice PresidentFT$321,589$122,673$444,262
Theresa Nester MdCo-chief Medical Officer Med SvcsFT$353,867$78,819$432,686
Kirsten Alcorn MdCo-chief Medical Officer Med SvcsFT$353,904$66,565$420,469
Robert GleasonTreasurer & CFO (thru 6/24)FT$333,420$73,720$407,140
Sue NixonExecutive Vice PresidentFT$294,526$44,500$339,026
Joseph VettoChief Information OfficerFT$279,251$56,542$335,793
Idoia GimferrerAshi Medical DirectorFT$284,749$43,745$328,494
Aaron PoseyExecutive Vice PresidentFT$272,010$49,204$321,214
Jing-fei Dong MdMember, ResearchFT$278,630$35,987$314,617
Mark DestreeExecutive Vice PresidentFT$248,664$65,001$313,665
Christine DonatelliChief Quality & Compliance OfficerFT$256,283$51,152$307,435
Maxine SellersSecretaryFT$95,880$15,201$111,081
Molly FirthBoard Chair (thru 1/24)-$8,000-$8,000
Trevor GoobyBoard Vice Chair/ Board Chair-$8,000-$8,000
Christine HenningsgaardBoard Trustee-$6,000-$6,000
Gene Farrell MbaBoard Trustee-$4,000-$4,000
Orlando WilliamsBoard Trustee-$2,000-$2,000

Board Members and Trustees

NameTitle
Drew CorriganBoard Trustee
Joyce JacksonBoard Trustee
Miho Dougherty Md MphBoard Trustee
Kirsten Aranda Schwab MbaBoard Trustee (thru 6/24)
Sean W SigmonBoard Trustee (thru 6/24)
Jeff PerryCFO (from 6/24)

Highest Paid Contractors

ContractorServicesLocationCompensation
Media PlusMarketing Consultant160 ROY STREET, Seattle, WA 98109$558,937
Ds Connect LLCMarketing Consultant15122 SE 107TH STREET, Renton, WA 98509$464,144
Degree 37 LLCConsultants14594 NW TREE TOP LANE, Seabeck, WA 98380$441,232
Blood Bank Computer SystemsSoftware Maintenance7206 VANDERMARK RD E, Bonney Lake, WA 98391$379,334
Northwest Loss Prevention INCSecurity Services13300 BOTHELL EVERETT HIGHWAY SUIT, Mill Creek, WA 98104$372,097
Revenue and Support

Revenue Composition

Contributions and Grants
$1,086,985
Program Service Revenue
$157,050,934
Investment Income
$777,462
Other Revenue
$907,866
All Other Contributions
$1,086,985
Change in Net Assets
$-220,273

Audited Revenue Reconciliation

Revenue per Audited Statements
$159,701,577
Revenue Not Reported on Financial Statements
$121,670
Revenue Not Reported on Form 990
$3,652,108
Total Revenue per Audited Statements
$163,353,685
Total Revenue per Form 990
$159,823,247
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$91,569,230
Other Expenses$67,957,242
Grants and Similar Amounts Paid$517,048
Total Fundraising Expense$313,818
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$59,248,643$10,764,038$215,940$70,228,621
Occupancy$8,191,411$709,175$12,344$8,912,930
Other Employee Benefits$5,672,135$1,065,961$20,332$6,758,428
Payroll Taxes$5,186,087$1,151,599$17,114$6,354,800
Information Technology$4,833,926$966,115$16,467$5,816,508
Depreciation Depletion$3,382,209$2,185,549$2,332$5,570,090
Current Officers, Directors, Trustees, and Key Employees$2,590,293$1,790,621-$4,380,914
Office Expenses$2,073,617$1,986,394$3,371$4,063,382
Pension Plan Contributions$3,235,196$601,680$9,591$3,846,467
Fees for Services Other$2,139,195$894,651$4,255$3,038,101
Advertising$2,953,697$20,045$2,175$2,975,917
Other Expenses$2,335,054$577,748$34$2,912,836
Insurance$1,161,913$239,123$4,162$1,405,198
Travel$369,093$102,245$1,217$472,555
Fees for Services Legal-$375,511-$375,511
Grants to Domestic Individuals$352,377--$352,377
Conferences and Meetings$128,120$165,170$415$293,705
Fees for Services Accounting-$171,200-$171,200
Grants to Domestic Orgs$164,671--$164,671
Fees for Service Investment Mgmnt Fees-$121,670-$121,670
Interest$46,475$47,903$4,069$98,447
Total Functional Expenses$135,793,304$23,936,398$313,818$160,043,520

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$160,815,698
Total Expenses per Form 990$160,043,520
Expenses per Audited Statements$159,921,850
Expenses Not Reported on Form 990$893,848
Expenses Not Reported on Financial Statements$121,670
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
University of WashingtonSeattle, WAPublic UniversityMolecular and Translational Studies in Hematologic Disorders$58,181
Swedish Medical CenterSeattle, WA501(c)3Cold-stored Platelets to Treat Bleeding in Cardiac Surgery Patients$57,538
Baylor College of MedicineHouston, TX501(c)3Willibrand Factor in Traumatic Brain Injury$31,004
Wa Institute for CoagulationSeattle, WA501(c)3Von Willibrand Facotr in Pregnancy (vip) Study$17,948
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
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Obligations$13,787,323
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

Internally, data for the form 990 is prepared by the accounting department and reviewed by the controller and the chief financial officer. The form 990 is then prepared by our cpa firm. In addition to internal review, the draft form 990 is provided to members of the board of trustees for their review.

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

Bloodworks has all human resource policies (including conflict of interest) online and accessible. Any changes are highlighted and sent to all employees. Upon hire and upon major policy changes, employee signs acknowledgement form to evidence that they are responsible to read and become acquainted with the policies. Annually board members must sign a form and disclose conflicts of interest. These are reviewed by the board chair and president. If a conflict of interest exists, an interested person may make a presentation, but must leave the meeting during any discussion of the matter. The chairperson may, if appropriate, appoint a disinterested person to investigate alternatives. The board or committee shall exercise due diligence to determine whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement that does not create a conflict of interest.

Form 990, Part VI, Section B, Line 15

The compensation committee of the board reviews and approves the president's compensation based on research of other comparable organizations and industry standards performed by a compensation consulting firm. In march 2023, an outside consulting firm provided trends in both performance increases and bonuses for ceos. The board used this information in the president's compensation review. Key employee and officer salaries are reviewed against market data with consideration of internal equity. Market data includes annual survey from industry association and comparison to additional regional and national market data approximately every two to three years. In addition, medical staff salaries are reviewed against university ranges for physicians of like specialties.

Form 990, Part VI, Section C, Line 19

Governing documents and audited financial statements are available upon request. Bloodworks has all human resource policies (including conflict of interest) online and accessible.

Filing and Contact Details

Filer

Filer Name
Bloodworks
EIN
91-1019655
Phone
2062926500
Address
921 TERRY AVENUE, SEATTLE, WA 98104-1256

Signing Officer

Name
Jeff Perry
Title
CFO
Phone
2069541042
Signed
2025-05-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Curt Bailey
Formed
1944
Legal Domicile
Wa
Voting Board Members
11
Independent Board Members
10
Employees
1,005
Volunteers
314

Preparer

Firm
Moss Adams Llp
Address
999 THIRD AVENUE SUITE 2800, SEATTLE, WA 98104
Preparer
Emina O Cresswell CPA
Phone
2063026500
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Passthrough investments 2,474.

Financial Statement Notes

PART V, LINE 4:

Intended use of endowment fund earnings is for medical research as well as an annual lecture series.

PART X, LINE 2:

The organization is a not-for-profit corporation and has been recognized as tax-exempt pursuant to section 501(c)(3) of the internal revenue code. The organization is exempt from federal income tax under section 501(c)(3) of the internal revenue code except to the extent of unrelated business taxable income as defined under irc sections 511 through 515. Any unrelated business income generated is not significant; therefore, no provision for income taxes has been recorded. The organization has adopted accounting for uncertain tax positions. The accounting standards prescribes a recognition threshold and measurement process for uncertain tax positions. As of june 30, 2024 and 2023, the organization had no uncertain tax positions requiring accrual.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Rental expenses netted with rental revenue 893,848. Joint venture investment book/tax adjustment 2,474.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Rental expenses netted with rental revenue 893,848.

Raw XML AppendixShowing 400 of 1,079 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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