VERSITI MICHIGAN INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1955

Legal Domicile

Principal Officer

CHRIS MISKEL

Phone

6167742300

Tax Period

2024-01-01 to 2024-12-31

VERSITI MICHIGAN INC, founded in 1955, is a mid-sized nonprofit in the Health Care sector that reported $74.8M in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $69.6M left a modest 7% surplus.

Mission

VERSITI MICHIGAN, INC. (VERSITI) IS A BLOOD HEALTH INNOVATOR WHICH ENHANCES LIVES THROUGH DISCOVERY, DIAGNOSIS AND TREATMENT. VERSITI EXPANDS THE FRONTIERS OF PATIENT HEALTH THROUGH THE INTEGRATION OF SCIENCE, MEDICINE AND SERVICE.

Program Service Accomplishments

Program 1

Expenses: $59,357,594 Revenue: $73,832,938

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...

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.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $566,685

Program Service Revenue $73,832,938

Investment Income $139,594

Other Revenue $251,224

TOTAL REVENUE $74,790,441

Expense Breakdown

Grants Paid $92,680

Salaries & Benefits $32,710,131

Fundraising Expenses $0

Program Expenses $59,357,594

Other Expenses $36,832,681

TOTAL EXPENSES $69,635,492

Year-over-Year Comparison

	2024	2023	Change
Revenue	$74,790,441	$69,044,445	+0.1%
Expenses	$69,635,492	$65,377,053	+0.1%
Net Income	$5,154,949	$3,667,392	+0.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

621

Volunteers

196

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$9,265,179

Total Directors

$1,680,265

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRIS MISKEL	PRESIDENT & CEO	11.00	Officer Director	$324,520	$57,669	$1,680,265
FRED GEILFUSS	CHAIR	1.00	Officer Director	$0	$0	$0
L ALAN WHALEY	VICE CHAIR	1.00	Officer Director	$0	$0	$0
COREEN DICUS-JOHNSON JD	SECRETARY	1.00	Officer Director	$0	$0	$0
RON MILLER	TREASURER	1.00	Officer Director	$0	$0	$0
NICHOLAS BAUER	BOARD MEMBER	1.00	Director	$0	$0	$0
DAVID GINSBURG MD	BOARD MEMBER	1.00	Director	$0	$0	$0
CECELIA GORE	BOARD MEMBER	1.00	Director	$0	$0	$0
GAIL HANSON	BOARD MEMBER	1.00	Director	$0	$0	$0
THOMAS HAUSKE JR	BOARD MEMBER	1.00	Director	$0	$0	$0
SHERRY HUSA	BOARD MEMBER	1.00	Director	$0	$0	$0
DALE KENT	BOARD MEMBER	1.00	Director	$0	$0	$0
ROBERT H MANEGOLD	BOARD MEMBER	1.00	Director	$0	$0	$0
JEFFREY S MCDONALD	BOARD MEMBER	1.00	Director	$0	$0	$0
MAGGEY OPLINGER	BOARD MEMBER	1.00	Director	$0	$0	$0
JOHN PERRAS	BOARD MEMBER	1.00	Director	$0	$0	$0
KATHY THORNTON-BIAS	BOARD MEMBER - THRU 6/24	1.00	Director	$0	$0	$0
GREG WESLEY	BOARD MEMBER	1.00	Director	$0	$0	$0
PETER ZIEGLER	BOARD MEMBER	1.00	Director	$0	$0	$0
BRIAN BAUTISTA	EVP & CHIEF OPERATING OFFICER	11.00	Officer	$162,553	$53,592	$866,357
GITESH DUBAL	EVP & CHIEF MKTG. OFF. - THRU 4/24	11.00	Officer	$81,412	$23,781	$430,841
ANTHONY WATKINS	EVP&CFO-THRU 3/24;BUS DEV-AS OF 3/24	11.00	Officer	$149,743	$29,876	$778,587
JAMES WEIDNER	EVP & CHIEF HR OFFICER	11.00	Officer	$114,320	$56,792	$628,394
LYNNE BRIGGS	VP & CHIEF INFORMATION OFFICER	11.00	Officer	$96,373	$52,622	$534,488
BART REUTER	EVP & GENERAL COUNSEL	11.00	Officer	$172,320	$66,046	$927,646
BRADLEY PIETZ	EVP & CHIEF LABORATORY OFFICER	11.00	Officer	$120,183	$65,430	$666,345
JESSICA DROUILLARD	VP & CHIEF QUALITY OFFICER	11.00	Officer	$55,208	$18,905	$294,942
MICHAEL DEININGER MD	EVP & CHIEF SCIENTIFIC OFFICER	1.00	Officer	$0	$39,231	$709,841
BARBARA BRYANT	EVP & CHIEF MED. OFF. - THRU 8/24	1.00	Officer	$0	$25,848	$473,670
GRETCHEN JAMESON	EVP & CHIEF MKTG. OFF. - AS OF 4/24	11.00	Officer	$44,083	$15,013	$235,428
DEREK TYUS	EVP & CHIEF FINANCIAL OFF. - AS 3/24	11.00	Officer	$90,460	$48,353	$500,657
MATTHEW ANDERSON MD	EVP & CHIEF MED. OFF. - AS OF 7/24	1.00	Officer	$0	$65,850	$537,718
TIMOTHY PANCIOLI DO	ASSOCIATE MEDICAL DIRECTOR	55.00	Highest	$253,383	$42,360	$295,743
PERPETUE U BARIYANGA	SR REG NURSE THERAPEUTIC SERVICES	55.00	Highest	$178,958	$26,969	$205,927
KRISTIN RONCHETTI-BRENNER	AVP & SR DIRECTOR DONOR SERVICES	55.00	Highest	$177,260	$10,140	$187,400
MICHELLE MAMBY	SR REG NURSE THERAPEUTIC SERVICES	55.00	Highest	$174,672	$24,965	$199,637
DAWN KAISER	DIRECTOR DONOR SERVICES	55.00	Highest	$151,232	$36,868	$188,100

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$74,790,441	$69,635,492	$49,437,276	$5,154,949
2023	$69,044,445	$65,377,053	$44,741,001	$3,667,392
2022	$65,203,787	$63,869,912	$40,583,920	$1,333,875
2021	$66,476,683	$63,171,008	$40,816,832	$3,305,675
2020	$59,930,263	$58,580,268	$38,388,950	$1,349,995
2019	$58,063,694	$59,125,807	$33,870,208	$-1,062,113