Versiti

Legal name: Versiti Michigan Inc

Nonprofit profile at a glance

EIN
381550001
IRS 990 coverage
2010–2024
Official website data refreshed
Aug 2026
Forms available
Form 990 2024
Location
Milwaukee, WI, USA
Phone
6167742300
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Blood Supply Related

Official website

Reported finances

Revenue
$74,790,441
Expenses
$69,635,492
Assets
$49,437,276
Liabilities
$5,218,402

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

Leadership & pay

37 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
  • BRIAN BAUTISTA (EVP & CHIEF OPERATING OFFICER): $866,357 total reported compensation

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

Overview

Mission

Versiti is a fusion of donors, scientific curiosity and precision medicine that recognizes the gifts of blood and life are precious. We are passionate about improving the lives of patients and helping our healthcare partners thrive.

What it reported doing in 2024

Versiti Michigan recruits volunteer blood donors and collects, processes, and distributes blood products as part of its mission to provide a safe and reliable blood supply for hospitals and healthcare systems across Michigan. In 2024, versiti Michigan collected total red blood cells and platelets of 176,848, serving 71 hospitals through 4,965 community blood drives that engaged 74,562 volunteer donors. Partnerships: versiti Michigan launched a new partnership with the detroit lions, hosting blood drives at ford field with goals of 250+ donors per event, and participated in the we give blood drive with abbott and the big ten conference. (continued in schedule o)community outreach: versiti Michigan engaged communities through the black health coalition festival, grand rapids hispanic festival, hispanic center loteria night, and the #knowscd sickle cell disease awareness campaign. Diagnostic testing: versiti Michigan provides diagnostic testing services including hematology, coagulation, and molecular diagnostics, conducting 13,160 tests in 2024. Msi: the medical services institute performed 1,947 therapeutic procedures and operates the clinical trials & research office to advance patient care. Through dedicated volunteer donors and strategic partnerships, versiti Michigan maintains a robust blood supply enabling hospitals to provide critical care and lifesaving treatments throughout the region.

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 86
  • Accountability: 96
  • Sustainability: 50
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.2%; rating input score 79
  • Program expense ratio: 85.2%; rating input score 85
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 25th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 94.4%; rating input score 94; 46th 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: 6.9%; rating input score 64; 64th percentile among comparable filings
  • Total-asset coverage ratio: 0.71; rating input score 28; 28th percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: 4.5%; rating input score 21; 21st percentile among comparable filings

Growth

  • Program expense growth: 3.5% per year; rating input score 100; 26th percentile among comparable filings
  • Revenue growth: 4.6% per year; rating input score 100; 38th percentile among comparable filings
  • Asset growth: 3.3% per year; rating input score 100; 23rd percentile among comparable filings

Details

  • What they do: 5 programs and campaigns described on the official site · 3 operating locations identified
  • Where the money goes: 79.2% of revenue deployed · 85.2% of spending went to programs
  • Governance: 17 of 18 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $59.4M in reported program spending
  • Leadership: top reported pay $1.7M · 37 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $994K reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 12 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 16 filed money-flow records
  • Related organizations: 6 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 — Sustainability: Total-asset coverage ratio scored 28/100.
  • High — Sustainability: Officer compensation ratio scored 21/100.