LIFENET HEALTH

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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

1982

Legal Domicile

Principal Officer

RONY THOMAS

Phone

7574644761

Tax Period

2023-01-01 to 2023-12-31

LIFENET HEALTH, founded in 1982, is a major nonprofit in the Health Care sector that reported $535.5M in total revenue in fiscal year 2023. Revenue grew 17% year-over-year, indicating healthy expansion.

Mission

LIFENET HEALTH, ESTABLISHED IN 1982, IS A NON-PROFIT LIFE SCIENCES ORGANIZATION THAT PROVIDES ALLOGRAFTS FOR USE IN MOST SURGICAL DISCIPLINES; FACILITATES ORGAN DONATION AND TRANSPLANTATION; PROVIDES DONATED CELLS AND TISSUES FOR BIOMEDICAL RESEARCH; AND SERVES AS A SOURCE OF PUBLIC ADVOCACY AND EDUCATION FOR ORGAN AND TISSUE DONATION. LIFENET HEALTH IS ONE OF THE WORLD'S LARGEST PROVIDERS OF ALLOGRAFT BIOLOGICS, DISTRIBUTING MORE THAN 1,046,265 IN 2023. LIFENET HEALTH IS THE FEDERALLY DESIGNATED ORGAN PROCUREMENT ORGANIZATION FOR MOST OF VIRGINIA, AS WELL AS AREAS OF NORTH CAROLINA AND WEST VIRGINIA. IN 2023, LIFENET HEALTH FACILITATED 686 ORGAN TRANSPLANTS. LIFENET HEALTH COLLABORATES WITH HOSPITALS AND TISSUE RECOVERY PARTNERS ACROSS THE COUNTRY TO SERVE THE NEEDS OF HOSPITALS AND PATIENTS AROUND THE GLOBE. LIFENET HEALTH HAS DEVELOPED KEY INNOVATIONS SUCH AS PROPRIETARY AND PATENTED CLEANING, DECELLULARIZATION, AND COMPOSITE ALLOGRAFT TECHNOLOGIES. LIFENET HEALTH'S GLOBAL HEADQUARTERS IS LOCATED IN VIRGINIA BEACH, VIRGINIA WITH ADDITIONAL FACILITIES THROUGHOUT THE UNITED STATES. LIFENET HEALTH'S MISSION STATEMENT IS "SAVING LIVES. RESTORING HEALTH. GIVING HOPE." PLEASE VISIT OUR WEBSITE TO LEARN MORE ABOUT OUR MISSION, WWW.LIFENETHEALTH.ORG.

Program Service Accomplishments

Program 1

Expenses: $368,578,995 Revenue: $455,402,545

PROCESSING AND DISTRIBUTION OF HUMAN ALLOGRAFT TISSUE FOR TRANSPLANTATION.

Program 2

Expenses: $65,891,949 Revenue: $77,621,427

ORGAN RECOVERY AND TRANSPLANTATION SERVICES.

Program 3

Expenses: $4,385,662 Revenue: $180,651

ORGAN AND TISSUE CALL CENTER SERVICES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $94,966

Program Service Revenue $532,431,988

Investment Income $2,178,710

Other Revenue $772,635

TOTAL REVENUE $535,478,299

Expense Breakdown

Grants Paid $136,202

Salaries & Benefits $172,272,725

Fundraising Expenses $0

Program Expenses $438,856,606

Other Expenses $347,838,287

TOTAL EXPENSES $520,247,214

Year-over-Year Comparison

	2023	2022	Change
Revenue	$535,478,299	$456,633,012	+0.2%
Expenses	$520,247,214	$443,032,293	+0.2%
Net Income	$15,231,085	$13,600,719	+0.1%

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

1680

Volunteers

400

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

$4,142,534

Total Directors

$3,703,780

Key Employees

$974,606

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MR RONY THOMAS	CEO	40.00	Officer Director	$2,948,491	$569,789	$3,518,280
DR JOHN HERRE	CHAIRMAN	3.00	Officer Director	$27,500	$0	$27,500
DR GERALD BOWERS	DIRECTOR	2.00	Director	$15,000	$0	$15,000
DR JOHN CARDEA	VICE CHAIRMAN	2.00	Director	$11,500	$0	$11,500
REV JONATHAN BARTON	DIRECTOR	2.00	Director	$11,500	$0	$11,500
MRS LINDA CROSS	DIRECTOR	2.00	Director	$15,000	$0	$15,000
DR MARK REYNOLDS	DIRECTOR	2.00	Director	$15,000	$0	$15,000
DR LENNEAL HENDERSON	DIRECTOR	2.00	Director	$15,000	$0	$15,000
DR LEE RILEY	DIRECTOR	2.00	Director	$15,000	$0	$15,000
DR ADAM LANDSMAN	DIRECTOR	2.00	Director	$15,000	$0	$15,000
MRS ANN LANGE	DIRECTOR (END 11/11/23)	2.00	Director	$0	$0	$0
DR KEVIN BONNER	DIRECTOR	2.00	Director	$15,000	$0	$15,000
MRS YVONNE WILD	DIRECTOR	2.00	Director	$15,000	$0	$15,000
MR F BLAIR WIMBUSH	DIRECTOR	2.00	Director	$15,000	$0	$15,000
DR WILLIAM GREER	DIRECTOR (END 8/30/23)	2.00	Director	$0	$0	$0
MR J PHILIP JONES	VP/SECRETARY/CFO	40.00	Officer	$428,549	$168,205	$596,754
MR DOUG WILSON	EXECUTIVE VP	40.00	Key Emp	$830,337	$144,269	$974,606
MR DARRELL JESSEE	CHIEF COMMERCIAL OFFICER	40.00	Highest	$540,051	$111,121	$651,172
MR MICHAEL POOLE	EVP, GLOBAL OPERATIONS	40.00	Highest	$553,690	$134,489	$688,179
MR ALAN BORTNICK	SVP, ADMINISTRATION	40.00	Highest	$567,125	$161,538	$728,663
MR DANIEL OSBORNE	CHIEF GROWTH OFFICER	40.00	Highest	$589,595	$159,599	$749,194
MR MICHAEL PLEW	SVP, QUALITY & RC	40.00	Highest	$562,848	$61,027	$623,875

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	No data	No data	No data	No data
2023	$535,478,299	$520,247,214	$637,718,043	$15,231,085
2022	$456,633,012	$443,032,293	$551,891,048	$13,600,719
2021	$455,372,311	$434,702,789	$516,500,222	$20,669,522
2020	$407,112,272	$376,365,281	$503,270,241	$30,746,991
2019	$441,142,112	$418,080,406	$434,579,803	$23,061,706
2018	$418,564,024	$386,000,217	$402,809,361	$32,563,807