Innovative Hematology, Inc.

Legal name: Innovative Hematology Inc

Nonprofit profile at a glance

EIN
923243582
IRS 990 coverage
2024–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Indianapolis, IN, USA
Phone
317-871-0010
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Health Treatment Facilities, Primarily Outpatient

Official website

Reported finances

Revenue
$35,925,598
Expenses
$20,046,752
Assets
$177,482,430
Liabilities
$11,162,553

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

24 people listed

Executive titles in this filing

  • AMY SHAPIRO MD (PRESIDENT/CEO/MED DIR)
  • NANCY HOARD (EXECUTIVE DIRECTOR)

Highest reported compensation

  • AMY SHAPIRO MD (PRESIDENT/CEO/MED DIR): $1,095,913 total reported compensation
  • DAVID HEDRICK (HEMATOLOGIST): $664,379 total reported compensation
  • BRANDON HARDESTY (HEMATOLOGIST): $662,648 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Innovative Hematology is dedicated to providing the most advanced treatment and best outcomes for patients with blood disorders, serving patients, their families, and their communities through a wide range of services, collaborative care teams, and clinical research.

What it reported doing in 2024

Innovative hematology is a non-profit, tax-exempt organization with the mission of providing the highest quality comprehensive services and holistic care to patients with bleeding, clotting, and other hematologic disorders, and to their families. Innovative hematology was established in 2024 and serves both adult and pediatric patients throughout the state of Indiana. Innovative hematology utilizes a multidisciplinary approach to treating patients with complex medical problems and participates in clinical research and education of medical students, residents, fellows, patients, families, and community members. Innovative hematology engages in significant outreach activities throughout Indiana, the u.s. And the world including participation in the Indiana university school of medicine-moi university school of medicine partnership in eldoret, kenya.

Operating model

Revenue model
Investment-supported. 75% of the money available for current operations came from recurring investment income.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 81
  • Accountability: 79
  • Sustainability: 80
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 87.2%; rating input score 87
  • Fundraising efficiency: $6.03 raised per $1 spent on fundraising; rating input score 25; 25th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 10th percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 97.6%; rating input score 98; 28th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 63.6%; rating input score 64; 11th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 44.2%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 8.85; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 30.8%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • What they do: 7 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 100% of revenue deployed · 87.2% of spending went to programs
  • Governance: 7 of 11 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $17.5M in reported program spending
  • Leadership: top reported pay $1.1M · 24 people listed · 6 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $129K reported
  • Consistency: 34 of 35 current checks pass · 1 finding to review
  • Schedules: 10 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Contacts: How to reach this organization
  • Money network: 25 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 25/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.