Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1a · Federated campaigns

  $6,500

• 1c · Fundraising events

  $336,750

• 1d · Related organizations

  $3,810,000

• 1f · All other contributions, gifts and grants

  $1,683,742

• 1g · Noncash contributions included above

  $300,356

• 3 · Investment income

  total $3,259,985 · unrelated business -$20,792 · excluded $3,280,777

• 5 · Royalties

  total $377,678 · excluded $377,678

• 7a · Gross sales of assets other than inventory

  securities $10,506,170

• 7b · Less cost or other basis and sales expenses

  securities $8,998,085

• 7c · Gain or loss

  securities $1,508,085

• 7d · Net gain or loss

  total $1,508,085 · unrelated business $24,632 · excluded $1,483,453

• 8a · Fundraising events: gross income

  $63,798

• 8a · Fundraising events: contributions included on line 1c

  $336,750

• 8b · Fundraising events: direct expenses

  $99,592

• 8c · Net income from fundraising events

  total -$35,794 · excluded -$35,794

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $9,242,529 · program services $9,242,529

• 5 · Compensation of officers, directors and key employees

  total $262,013 · management and general $34,154 · fundraising $227,859

• 7 · Other salaries and wages

  total $566,710 · management and general $188,565 · fundraising $378,145

• 8 · Pension plan contributions

  total $29,780 · management and general $11,473 · fundraising $18,307

• 9 · Other employee benefits

  total $101,044 · management and general $35,125 · fundraising $65,919

• 10 · Payroll taxes

  total $56,433 · management and general $16,190 · fundraising $40,243

• 11b · Fees: legal

  total $135,441 · management and general $135,441

• 11c · Fees: accounting

  total $4,400 · management and general $4,400

• 11e · Fees: professional fundraising services

  total $441,440 · fundraising $441,440

• 11f · Fees: investment management

  total $152,186 · management and general $152,186

• 11g · Fees: other

  total $151,419 · management and general $77 · fundraising $151,342

• 12 · Advertising and promotion

  total $56,225 · fundraising $56,225

• 13 · Office expenses

  total $748 · fundraising $748

• 14 · Information technology

  total $32,419 · management and general $3,250 · fundraising $29,169

• 15 · Royalties

  total $63,879 · management and general $63,879

• 16 · Occupancy

  total $1,100 · fundraising $1,100

• 17 · Travel

  total $5,904 · management and general $240 · fundraising $5,664

• 19 · Conferences, conventions and meetings

  total $13,743 · management and general $302 · fundraising $13,441

• 22 · Depreciation, depletion and amortization

  total $4,145 · fundraising $4,145

• 24a · Other expenses: UBI TAXES

  total $25,781 · management and general $25,781

• 24b · Other expenses: EQUIPMENT LEASE & MAINT

  total $7,277 · management and general $474 · fundraising $6,803

• 24c · Other expenses: MEDICAL LAB SUPPLIES

  total $1,653 · management and general $1,653

• 24d · Other expenses: DUES & MEMBERSHIPS

  total $1,529 · management and general $595 · fundraising $934

• 24e · All other expenses

  total -$301 · management and general -$715 · fundraising $414

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $0 · end of year $0

• 2 · Savings and temporary cash investments

  beginning of year $9,180,588 · end of year $4,753,757

• 3 · Pledges and grants receivable

  beginning of year $1,633,243 · end of year $1,554,665

• 4 · Accounts receivable

  beginning of year $159,526 · end of year $97,087

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 7 · Other notes and loans receivable

  beginning of year $0 · end of year $0

• 8 · Inventories for sale or use

  beginning of year $0 · end of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $0 · end of year $0

• 10a · Land, buildings and equipment: cost or other basis

  $54,657

• 10b · Land, buildings and equipment: accumulated depreciation

  $50,791

• 10c · Land, buildings and equipment, net

  beginning of year $8,011 · end of year $3,866

• 11 · Investments: publicly traded securities

  beginning of year $73,994,112 · end of year $90,599,806

• 12 · Investments: other securities

  beginning of year $38,487,580 · end of year $36,864,057

• 13 · Investments: program-related

  beginning of year $0 · end of year $0

• 14 · Intangible assets

  beginning of year $0 · end of year $0

• 15 · Other assets

  beginning of year $0 · end of year $0

• 17 · Accounts payable and accrued expenses

  beginning of year $1,144,589 · end of year $1,501,991

• 18 · Grants payable

  beginning of year $0 · end of year $0

• 19 · Deferred revenue

  beginning of year $0 · end of year $0

• 20 · Tax-exempt bond liabilities

  beginning of year $0 · end of year $0

• 21 · Escrow or custodial account liability

  beginning of year $0 · end of year $0

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $0 · end of year $0

• 24 · Unsecured notes and loans payable

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $0 · end of year $0

• 27 · Net assets without donor restrictions

  beginning of year $114,524,341 · end of year $123,216,504

• 28 · Net assets with donor restrictions

  beginning of year $7,794,130 · end of year $9,154,743

The filer's explanations (Part III)

PART I, LINE 3

TOP MANAGEMENT'S COMPENSATION VBRIF DOES NOT DIRECTLY COMPENSATE ITS EMPLOYEES OR OFFICERS; INSTEAD VBRIF RELIES ON ITS RELATED ENTITIES, VERSITI WISCONSIN, INC. AND VERSITI, INC., TO FACILITATE COMPENSATION OF VBRIF EMPLOYEES AND OFFICERS. VERSITI AND ITS AFFILIATED BLOOD CENTERS GREATLY VALUE THE GENEROUS CONTRIBUTIONS OF THE INDIVIDUALS AND ORGANIZATIONS THAT SUPPORT OUR MISSION WITHIN THE COMMUNITY WE SERVE. IN ORDER TO ENSURE PROPER STEWARDSHIP OF OUR CHARITABLE RESOURCES, VERSITI AND ITS AFFILIATES FOLLOW A FORMALIZED PROCESS TO CONFIRM THAT COMPENSATION PROVIDED TO OUR EXECUTIVE LEADERSHIP TEAM IS FAIR, REASONABLE, AND NOT EXCESSIVE WHEN COMPARED TO OTHER EXECUTIVES. THIS PROCESS ALSO HELPS US ENSURE THAT OUR COMPENSATION PROGRAM SUPPORTS THE RETENTION OF EXPERIENCED HIGHLY-QUALIFIED EXECUTIVES WHO ARE COMMITTED TO OUR MISSION. THE EXECUTIVE COMMITTEE OF THE VERSITI BOARD OF DIRECTORS, ACTING IN ITS CAPACITY AS THE COMPENSATION COMMITTEE, SETS AND MONITORS THE COMPENSATION PHILOSOPHY FOR VERSITI AND THE RELATED ENTITIES THAT IT SUPPORTS, INCLUDING VBRIF. OTHER THAN THE VERSITI PRESIDENT AND CHIEF EXECUTIVE OFFICER, THE EXECUTIVE COMMITTEE DOES NOT INCLUDE MEMBERS OF MANAGEMENT. TO ENSURE THAT THE COMMITTEE IS COMPRISED OF INDIVIDUALS WHO DO NOT HAVE A CONFLICT OF INTEREST WITH RESPECT TO VERSITI COMPENSATION ARRANGEMENTS, THE VERSITI PRESIDENT AND CHIEF EXECUTIVE OFFICER RECUSES HER/HIMSELF FROM ALL DISCUSSIONS AND APPROVALS RELATED TO HER/HIS COMPENSATION. THE VERSITI EXECUTIVE COMMITTEE REVIEWS EXECUTIVE COMPENSATION ARRANGEMENTS TO ENSURE SUCH ARRANGEMENTS ARE FAIR, REASONABLE, AND NOT EXCESSIVE WHEN COMPARED TO SIMILARLY-SITUATED EXECUTIVES. EXECUTIVE COMPENSATION ARRANGEMENTS ARE REVIEWED FOR REASONABLENESS AND APPROVED BY THE EXECUTIVE COMMITTEE ANNUALLY IN ACCORDANCE WITH THE VERSITI REASONABLENESS REVIEW POLICY. IN ORDER TO ASSESS THE REASONABLENESS OF EXECUTIVE COMPENSATION ARRANGEMENTS, THE EXECUTIVE COMMITTEE OBTAINS AND REVIEWS APPROPRIATE COMPARABILITY DATA COLLECTED BY THE HUMAN RESOURCE DEPARTMENT AND/OR A QUALIFIED INDEPENDENT COMPENSATION CONSULTANT. THE EXECUTIVE 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 COMMITTEE'S REVIEW, RECOMMENDATIONS AND APPROVALS ARE DOCUMENTED CONCURRENTLY IN THE COMMITTEE MINUTES, WHICH ARE SUBSEQUENTLY REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE AS REASONABLE, ACCURATE AND COMPLETE. THE COMMITTEE CHAIR VERBALLY COMMUNICATES TO THE VERSITI BOARD OF DIRECTORS A CONFIRMATION OF COMPENSATION REASONABLENESS AND TEH OVERALL DUE DILIGENCE PROCESS. VERSITI AND VERSITI WISCONSIN HAVE INCENTIVE PROGRAMS FOR EXECUTIVES, DIRECTORS, MANAGEMENT, INVESTIGATORS AND STAFF DESCRIBED IN DETAILED WRITTEN POLICIES APPROVED BY THE EXECUTIVE COMMITTEE ANNUALLY. EVALUATION AND COMPENSATION REVIEW -CEO - EACH YEAR, THE EXECUTIVE 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 - THE BOARD OF DIRECTORS HAS DELAGATED TO THE VERSITI/VERSITI WISCONSIN CEO THE PERFORMANCE ASSESSMENT AND COMPENSATION DECISIONS FOR HIS/HER TEAM AND LEADERS ELIGIBLE FOR THE VERSITI LEADERSHIP INCENTIVE PLAN. DURING THE MAY MEETING, THE EXECUTIVE COMMITTEE REVIEWS THE INCENTIVES (SHORT AND LONG-TERM) PAYOUTS AND MERIT INCREASES ASSIGNED TO THE EXECUTIVE TEAM AS PART OF THE ANNUAL COMPENSATION REASONABILITY REVIEW CONDUCTED BY AON CONSULTANTS. THE EXECUTIVE COMMITTEE REVIEWS AND APPROVES THE SALARY INCREASES AND INCENTIVE PAYOUTS OF THE CEO BEFORE PAYMENT. EXECUTIVES ARE POSITIONED WITHIN THE APPROPRIATE SALARY RANGE BASED UPON THE: -EXECUTIVE'S KNOWLEDGE, COMPETENCIES, AND EXPERIENCE, -PERFORMANCE OF THE EXECUTIVE'S AREAS OF RESPONSIBILITY, -THE EXECUTIVE'S CONTRIBUTION TO OVERALL PERFORMANCE -THE IMPORTANCE OF RETAINING THE EXECUTIVE, -INTERNAL EQUITY CONSIDERATIONS, -THE FINANCIAL RESOURCES AVAILABLE, AND -EXECUTIVE BASE SALARY INCREASES PROVIDED IN THE COMPETITIVE MARKET

PART I, LINES 5A, 5B, 6A, 6B AND 7:

NON-FIXED PAYMENTS INCENTIVE PAYOUT OPPORTUNITIES, BASED ON PERCENTAGE OF BASE PAY RATE, ARE AVAILABLE TO CERTAIN EMPLOYEES OF THE FILING ORGANIZATION. WHILE LEVELS OF THE INCENTIVE PAYOUT OPPORTUNITY ARE FIXED AND DETERMINED PERCENTAGES OF BASE COMPENSATION, THE INCENTIVE PAYOUT IS DETERMINED, IN PART, ON THE CONSOLIDATED REVENUE AND NET EARNINGS OF OPERATING DIVISIONS. THE INCENTIVE PAYOUT IS SUBJECT TO THE REVIEW OF ACCOMPLISHMENTS/OBJECTIVES AND THE ULTIMATE DETERMINATION OF INCENTIVE COMPENSATION IS SUBJECT TO PRESIDENT/CEO AND EXECUTIVE COMMITTEE OF THE BOARD APPROVAL.