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Nonprofiteer
← BLOODWORKS

Form 990 for tax year 2023

Filed by BLOODWORKS.

Totals

Total revenue
$159,823,247
Total expenses
$160,043,520
Contributions and grants received
$1,086,985
Grants paid
$517,048
Program service revenue
$157,050,934
Investment income
$777,462
Other revenue
$907,866
Total assets, end of year
$112,280,040
Total liabilities, end of year
$28,747,511
Net assets or fund balances, end of year
$83,532,529
Program services expenses (Part IX)
$135,793,304
Management and general expenses
$23,936,398
Fundraising expenses
$313,818
Program service expenses (Part III)
$135,793,304

Program services were 84.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $1,086,985

  • 2a · Program service revenue: BLOOD AND LABORATORY SERVICE FEES

    total $126,687,328 · related or exempt $126,687,328

  • 2b · Program service revenue: BIOLOGICAL PRODUCT FEES

    total $11,873,224 · related or exempt $11,873,224

  • 2c · Program service revenue: RESEARCH REVENUE

    total $8,997,509 · related or exempt $8,997,509

  • 2d · Program service revenue: APHERESIS THERAPEUTIC FEES

    total $5,447,937 · related or exempt $5,447,937

  • 2e · Program service revenue: OTHER BLOOD BANK SERVICES

    total $2,059,180 · related or exempt $2,059,180

  • 2f · All other program service revenue

    total $1,985,756 · related or exempt $1,985,756

  • 3 · Investment income

    total $800,374 · excluded $800,374

  • 6a · Gross rents

    real property $1,801,714

  • 6b · Less rental expenses

    real property $893,848

  • 6c · Rental income or loss

    real property $907,866

  • 6d · Net rental income or loss

    total $907,866 · excluded $907,866

  • 7a · Gross sales of assets other than inventory

    securities $3,438,658 · other assets $13,967

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

    securities $3,373,605 · other assets $101,932

  • 7c · Gain or loss

    securities $65,053 · other assets -$87,965

  • 7d · Net gain or loss

    total -$22,912 · excluded -$22,912

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $164,671 · program services $164,671

  • 2 · Grants to domestic individuals

    total $352,377 · program services $352,377

  • 5 · Compensation of officers, directors and key employees

    total $4,380,914 · program services $2,590,293 · management and general $1,790,621

  • 7 · Other salaries and wages

    total $70,228,621 · program services $59,248,643 · management and general $10,764,038 · fundraising $215,940

  • 8 · Pension plan contributions

    total $3,846,467 · program services $3,235,196 · management and general $601,680 · fundraising $9,591

  • 9 · Other employee benefits

    total $6,758,428 · program services $5,672,135 · management and general $1,065,961 · fundraising $20,332

  • 10 · Payroll taxes

    total $6,354,800 · program services $5,186,087 · management and general $1,151,599 · fundraising $17,114

  • 11b · Fees: legal

    total $375,511 · management and general $375,511

  • 11c · Fees: accounting

    total $171,200 · management and general $171,200

  • 11f · Fees: investment management

    total $121,670 · management and general $121,670

  • 11g · Fees: other

    total $3,038,101 · program services $2,139,195 · management and general $894,651 · fundraising $4,255

  • 12 · Advertising and promotion

    total $2,975,917 · program services $2,953,697 · management and general $20,045 · fundraising $2,175

  • 13 · Office expenses

    total $4,063,382 · program services $2,073,617 · management and general $1,986,394 · fundraising $3,371

  • 14 · Information technology

    total $5,816,508 · program services $4,833,926 · management and general $966,115 · fundraising $16,467

  • 16 · Occupancy

    total $8,912,930 · program services $8,191,411 · management and general $709,175 · fundraising $12,344

  • 17 · Travel

    total $472,555 · program services $369,093 · management and general $102,245 · fundraising $1,217

  • 19 · Conferences, conventions and meetings

    total $293,705 · program services $128,120 · management and general $165,170 · fundraising $415

  • 20 · Interest

    total $98,447 · program services $46,475 · management and general $47,903 · fundraising $4,069

  • 22 · Depreciation, depletion and amortization

    total $5,570,090 · program services $3,382,209 · management and general $2,185,549 · fundraising $2,332

  • 23 · Insurance

    total $1,405,198 · program services $1,161,913 · management and general $239,123 · fundraising $4,162

  • 24a · Other expenses: DRUGS AND SUPPLIES

    total $31,729,192 · program services $31,729,192

  • 24b · Other expenses: TRANSPORTATION

    total $2,912,836 · program services $2,335,054 · management and general $577,748 · fundraising $34

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $12,400,184 · end of year $6,085,407

  • 3 · Pledges and grants receivable

    beginning of year $1,376,608 · end of year $1,835,117

  • 4 · Accounts receivable

    beginning of year $16,926,048 · end of year $20,902,968

  • 8 · Inventories for sale or use

    beginning of year $3,139,975 · end of year $3,450,077

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,541,527 · end of year $2,484,837

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

    $141,965,946

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

    $107,314,773

  • 10c · Land, buildings and equipment, net

    beginning of year $34,226,015 · end of year $34,651,173

  • 11 · Investments: publicly traded securities

    beginning of year $25,790,711 · end of year $29,206,727

  • 13 · Investments: program-related

    beginning of year $525,000 · end of year $525,000

  • 15 · Other assets

    beginning of year $15,790,546 · end of year $13,138,734

  • 17 · Accounts payable and accrued expenses

    beginning of year $15,356,958 · end of year $14,842,759

  • 19 · Deferred revenue

    beginning of year $153,498 · end of year $40,404

  • 24 · Unsecured notes and loans payable

    beginning of year $150,663 · end of year $77,025

  • 25 · Other liabilities

    beginning of year $16,060,953 · end of year $13,787,323

  • 27 · Net assets without donor restrictions

    beginning of year $76,538,172 · end of year $78,951,381

  • 28 · Net assets with donor restrictions

    beginning of year $4,456,370 · end of year $4,581,148

Mission and programs · 2023

Mission

SAVING LIVES THROUGH RESEARCH, INNOVATION, EDUCATION AND EXCELLENCE IN BLOOD, MEDICAL AND LABORATORY SERVICES IN PARTNERSHIP WITH OUR COMMUNITY.

Activities or mission (Part I)

SAVING LIVES THROUGH RESEARCH, INNOVATION, EDUCATION & EXCELLENCE IN BLOOD, MEDICAL & LAB SERVICES.

  • RECRUIT DONORS, COLLECT, TEST, PROCESS AND FRACTIONATE WHOLE BLOOD AND COMPONENTS INTO TRANSFUSION READY PRODUCTS (WHOLE BLOOD, RED BLOOD CELLS, PLATELETS, PLASMA AND CRYOPRECIPITATE) FOR USE IN NEARLY 90 HOSPITALS, PRIMARILY LOCATED IN THE PACIFIC NORTHWEST.

    Expenses $125,627,786 · Revenue $148,053,425

  • WE ARE A RESEARCH INSTITUTE WITH OVER 75 YEARS OF RESEARCH AND DISCOVERIES. BLOODWORKS SCIENTISTS HAVE TRANSFORMED PATIENT CARE WITH BREAKTHROUGHS IN TRANSFUSION MEDICINE, BLOOD BIOLOGY, BLOOD STORAGE, CANCER THERAPIES, ORGAN TRANSPLANTATION. BLOODWORKS' SCIENTISTS CAN BE FOUND IN MEDICAL SCHOOLS AND AT SCIENTIFIC FORUMS SHARING THE LATEST BLOOD SCIENCE WITH DOCTORS FROM AROUND THE REGION - AND AROUND THE WORLD.

    Expenses $10,165,518 · Grants $517,048 · Revenue $8,997,509

As filed on the 2023 return.

Listed in Part VII

  • Curt Bailey

    PRESIDENT & CEO

    Total calculated
    $1,007,300
    From this org
    $968,288
    From related orgs
    $0
    Other
    $39,012
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $824,045
    Bonus
    $135,843
    Other
    $8,400
    Deferred
    $13,200
    Nontaxable benefits
    $25,812
    Filer's total
    $1,007,300

  • Vicki Finson

    EXECUTIVE VICE PRESIDENT (THRU 7/23)

    Total calculated
    $476,757
    From this org
    $460,283
    From related orgs
    $0
    Other
    $16,474
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $188,446
    Bonus
    $20,852
    Other
    $250,985
    Deferred
    $6,919
    Nontaxable benefits
    $9,555
    Filer's total
    $476,757

  • Jose Lopez MD

    CHIEF SCIENTIFIC OFFICER

    Total calculated
    $447,108
    From this org
    $408,542
    From related orgs
    $0
    Other
    $38,566
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $388,721
    Bonus
    $19,521
    Other
    $300
    Deferred
    $29,700
    Nontaxable benefits
    $8,866
    Filer's total
    $447,108

  • David Lin MD

    VICE PRESIDENT

    Total calculated
    $444,262
    From this org
    $424,462
    From related orgs
    $0
    Other
    $19,800
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $321,589
    Bonus
    $102,393
    Other
    $480
    Deferred
    $19,800
    Nontaxable benefits
    $0
    Filer's total
    $444,262

  • Theresa Nester MD

    CO-CHIEF MEDICAL OFFICER MED SVCS

    Total calculated
    $432,686
    From this org
    $394,120
    From related orgs
    $0
    Other
    $38,566
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $353,867
    Bonus
    $39,773
    Other
    $480
    Deferred
    $29,700
    Nontaxable benefits
    $8,866
    Filer's total
    $432,686

  • Kirsten Alcorn MD

    CO-CHIEF MEDICAL OFFICER MED SVCS

    Total calculated
    $420,469
    From this org
    $391,803
    From related orgs
    $0
    Other
    $28,666
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $353,904
    Bonus
    $37,333
    Other
    $566
    Deferred
    $19,800
    Nontaxable benefits
    $8,866
    Filer's total
    $420,469

  • Robert Gleason

    TREASURER & CFO (THRU 6/24)

    Total calculated
    $407,140
    From this org
    $353,586
    From related orgs
    $0
    Other
    $53,554
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $333,420
    Bonus
    $18,853
    Other
    $1,313
    Deferred
    $29,700
    Nontaxable benefits
    $23,854
    Filer's total
    $407,140

  • Sue Nixon

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $339,026
    From this org
    $311,183
    From related orgs
    $0
    Other
    $27,843
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $294,526
    Bonus
    $15,877
    Other
    $780
    Deferred
    $18,507
    Nontaxable benefits
    $9,336
    Filer's total
    $339,026

  • Joseph Vetto

    CHIEF INFORMATION OFFICER

    Total calculated
    $335,793
    From this org
    $294,444
    From related orgs
    $0
    Other
    $41,349
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $279,251
    Bonus
    $14,413
    Other
    $780
    Deferred
    $18,683
    Nontaxable benefits
    $22,666
    Filer's total
    $335,793

  • Idoia Gimferrer

    ASHI MEDICAL DIRECTOR

    Total calculated
    $328,494
    From this org
    $285,256
    From related orgs
    $0
    Other
    $43,238
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $284,749
    Bonus
    $0
    Other
    $507
    Deferred
    $17,942
    Nontaxable benefits
    $25,296
    Filer's total
    $328,494

  • Aaron Posey

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $321,214
    From this org
    $294,829
    From related orgs
    $0
    Other
    $26,385
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $272,010
    Bonus
    $22,339
    Other
    $480
    Deferred
    $17,519
    Nontaxable benefits
    $8,866
    Filer's total
    $321,214

  • Jing-Fei Dong MD

    MEMBER, RESEARCH

    Total calculated
    $314,617
    From this org
    $279,410
    From related orgs
    $0
    Other
    $35,207
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $278,630
    Bonus
    $0
    Other
    $780
    Deferred
    $25,582
    Nontaxable benefits
    $9,625
    Filer's total
    $314,617

  • Mark Destree

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $313,665
    From this org
    $270,050
    From related orgs
    $0
    Other
    $43,615
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $248,664
    Bonus
    $21,386
    Other
    $0
    Deferred
    $25,634
    Nontaxable benefits
    $17,981
    Filer's total
    $313,665

  • Christine Donatelli

    CHIEF QUALITY & COMPLIANCE OFFICER

    Total calculated
    $307,435
    From this org
    $272,252
    From related orgs
    $0
    Other
    $35,183
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $256,283
    Bonus
    $15,189
    Other
    $780
    Deferred
    $17,202
    Nontaxable benefits
    $17,981
    Filer's total
    $307,435

  • Maxine Sellers

    SECRETARY

    Total calculated
    $111,081
    From this org
    $95,880
    From related orgs
    $0
    Other
    $15,201
    Hours/week
    40

  • Molly Firth

    BOARD CHAIR (THRU 1/24)

    Total calculated
    $8,000
    From this org
    $8,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Trevor Gooby

    BOARD VICE CHAIR/ BOARD CHAIR

    Total calculated
    $8,000
    From this org
    $8,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Jeff Perry

    CFO (FROM 6/24)

    Total calculated
    $0
    Hours/week
    40

  • Christine Henningsgaard

    BOARD TRUSTEE

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Gene Farrell MBA

    BOARD TRUSTEE

    Total calculated
    $4,000
    From this org
    $4,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Orlando Williams

    BOARD TRUSTEE

    Total calculated
    $2,000
    From this org
    $2,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Drew Corrigan

    BOARD TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Joyce Jackson

    BOARD TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Miho Dougherty MD MPH

    BOARD TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Kirsten Aranda Schwab MBA

    BOARD TRUSTEE (THRU 6/24)

    Total calculated
    $0
    Hours/week
    1

  • Sean W Sigmon

    BOARD TRUSTEE (THRU 6/24)

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Health or social club dues or initiation fees
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 7 · Other non-fixed payments

Answered no

  • 1b · Written policy on the line-1a expenses
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
DURING THE MONTH OF JUNE 2023, BLOODWORKS PAID $2,900 PER PERSON IN SOCIAL CLUB INITIATION FEES AND DUES FOR THREE EXECUTIVES, TOTALLING $8,700. THIS WAS TREATED AS TAXABLE FRINGE BENEFITS TO THE EMPLOYEES AND SUBJECT TO WITHHOLDING FOR INCOME TAX, SOCIAL SECURITY AND MEDICARE FOR THE TAX YEAR 2023.
PART I, LINE 4A
VICKY FINSON RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $250,555 IN 2023.
PART I, LINE 7
THE BOARD DETERMINES ACHIEVEMENT AND APPROPRIATE PAYMENT FOR BONUSES DUE THE CEO, AS SPECIFIED IN HIS CONTRACT. ALL OTHER EMPLOYEE BONUSES, WHERE APPLICABLE, ARE STRUCTURED AND PAID BASED ON MANAGEMENT DETERMINATION OF ELIGIBILITY AND ACHIEVEMENT OF STATED GOALS. THE BOARD OF TRUSTEES COMPENSATION AND TALENT COMMITTEE PROVIDES OVERSIGHT AND GUIDANCE TO THE CEO IN HIS ADMINISTRATION OF EXECUTIVE TEAM INCENTIVE BONUSES. HUMAN RESOURCES REVIEWS AND MAINTAINS EMPLOYMENT AGREEMENTS (CEO) AND OFFER LETTERS (AT-WILL EMPLOYEES - ALL EXCEPT THE CEO).

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CHARITABLE REMAINDER TRUST (1)

    CHARITABLE TRUST · WA

Provenance

Return type
form_990
Tax year
2023
Filed
8 May 2025
IRS schema version
2023v6.0
Source object
202501299349303725

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