Versiti Blood Research Institute Foundation Inc

Nonprofit profile at a glance

EIN
391372542
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Milwaukee, WI, USA
Phone
4149335000
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Rehabilitative Medical Services

Official website

Reported finances

Revenue
$17,317,531
Expenses
$12,431,033
Assets
$142,624,739
Liabilities
$808,137

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

Leadership & pay

26 people listed

Executive titles in this filing

  • CHRIS MISKEL (PRESIDENT & CEO)

Highest reported compensation

  • CHRIS MISKEL (PRESIDENT & CEO): $1,680,265 total reported compensation
  • BART REUTER (EVP & GENERAL COUNSEL): $927,646 total reported compensation
  • ANTHONY WATKINS (EVP&CFO-THRU 3/24;BUS DEV-AS OF 3/24): $778,587 total reported compensation

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

Overview

Mission

(see schedule o)

What it reported doing in 2024

The versiti blood research institute foundation (vbrif) advances scientific discovery and patient care through comprehensive support of blood-related research, education, and community engagement programs. Rooted in its nonprofit mission, the vbrif enables groundbreaking blood research while fostering the next generation of scientists and improving the lives of patients afflicted by blood disorders. In 2024, vbrif-supported researchers published 122 peer-reviewed manuscripts with 45 featuring vbri faculty as lead or senior authors, including 5 publications in journals with impact factors exceeding 30. The vbrif's research spans 5 major programs: transfusion medicine, vascular biology, and cellular therapy; thrombosis and hemostasis; stem cell biology and hematopoiesis; immunology; (continued in schedule o) and translational hematology. Vbrif grant teams processed approximately $41m in new multi-year grants and submitted 112 proposals totaling $140.13m in 2024. Leadership: vbrif supports versiti's leadership in venus (venous thromboembolism network us) and reds-iv-p (recipient epidemiology and donor evaluation study), national programs advancing thrombosis treatment and blood transfusion safety. Vbrif funds specialized shared resources including bioinformatics, flow cytometry, and molecular biology cores. Vbrif also co-leads the mrmc hematology biorepository which provides annotated biological samples for biomarker discovery. Infrastructure and education: operating in an 82,000 square-foot facility, the vbrif supported 213 research staff, including 35 investigators, in 2024. Educational initiatives include graduate training, research symposia, and collaborative partnerships in the milwaukee regional medical center. The vbrif is also undertaking a $79m facility expansion with state funding and private philanthropic support. The initiative will grow research capacity to 167k square feet and strengthen Wisconsin's role as a global center for blood research. By supporting research, education, and scientific collaboration, vbrif catalyzes discovery and improved patient care in hematology and transfusion medicine.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 60
  • Accountability: 87
  • Sustainability: 83
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.2%; rating input score 96
  • Program expense ratio: 86.7%; rating input score 87
  • Fundraising efficiency: $7.73 raised per $1 spent on fundraising; rating input score 31; 31st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 93.3%; rating input score 93; 26th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 28.2%; rating input score 87; 87th percentile among comparable filings
  • Total-asset coverage ratio: 11.47; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 94; 94th percentile among comparable filings
  • Officer compensation ratio: 7.8%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: 4.4% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: 1.8% per year; rating input score 100; 17th percentile among comparable filings
  • Asset growth: 5.1% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: 96.2% of revenue deployed · 86.7% of spending went to programs
  • Governance: 14 of 15 board members independent · 7 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $10.8M in reported program spending
  • Leadership: top reported pay $1.7M · 26 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $138K reported
  • Consistency: 38 of 38 current checks pass
  • Schedules: 10 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 9 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.

Key Signals

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

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 31/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.