BLOODWORKS

EIN: 911019655 501(c)(3) Health Care

SEATTLE, WA

Total Revenue
$159,823,247
Total Expenses
$160,043,520
Total Assets
$112,280,040
Net Assets
$83,532,529
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1944
Legal Domicile
WA
Principal Officer
CURT BAILEY
Phone
2062926500
Tax Period
2023-07-01 to 2024-06-30

BLOODWORKS, founded in 1944, is a major nonprofit in the Health Care sector that reported $159.8M in total revenue in fiscal year 2023.

Mission

SAVING LIVES THROUGH RESEARCH, INNOVATION, EDUCATION AND EXCELLENCE IN BLOOD, MEDICAL AND LABORATORY SERVICES IN PARTNERSHIP WITH OUR COMMUNITY.

Program Service Accomplishments

Program 1
Expenses: $125,627,786 Revenue: $148,053,425

RECRUIT DONORS, COLLECT, TEST, PROCESS AND FRACTIONATE WHOLE BLOOD AND COMPONENTS INTO TRANSFUSION READY PRODUCTS (WHOLE BLOOD, RED BLOOD CELLS, PLATELETS, PLASMA AND CRYOPRECIPITATE) FOR USE IN...

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RECRUIT DONORS, COLLECT, TEST, PROCESS AND FRACTIONATE WHOLE BLOOD AND COMPONENTS INTO TRANSFUSION READY PRODUCTS (WHOLE BLOOD, RED BLOOD CELLS, PLATELETS, PLASMA AND CRYOPRECIPITATE) FOR USE IN NEARLY 90 HOSPITALS, PRIMARILY LOCATED IN THE PACIFIC NORTHWEST.

Program 2
Expenses: $10,165,518 Revenue: $8,997,509

WE ARE A RESEARCH INSTITUTE WITH OVER 75 YEARS OF RESEARCH AND DISCOVERIES. BLOODWORKS SCIENTISTS HAVE TRANSFORMED PATIENT CARE WITH BREAKTHROUGHS IN TRANSFUSION MEDICINE, BLOOD BIOLOGY, BLOOD...

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WE ARE A RESEARCH INSTITUTE WITH OVER 75 YEARS OF RESEARCH AND DISCOVERIES. BLOODWORKS SCIENTISTS HAVE TRANSFORMED PATIENT CARE WITH BREAKTHROUGHS IN TRANSFUSION MEDICINE, BLOOD BIOLOGY, BLOOD STORAGE, CANCER THERAPIES, ORGAN TRANSPLANTATION. BLOODWORKS' SCIENTISTS CAN BE FOUND IN MEDICAL SCHOOLS AND AT SCIENTIFIC FORUMS SHARING THE LATEST BLOOD SCIENCE WITH DOCTORS FROM AROUND THE REGION - AND AROUND THE WORLD.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,086,985
Program Service Revenue $157,050,934
Investment Income $777,462
Other Revenue $907,866
TOTAL REVENUE $159,823,247

Expense Breakdown

Grants Paid $517,048
Salaries & Benefits $91,569,230
Fundraising Expenses $313,818
Program Expenses $135,793,304
Other Expenses $67,957,242
TOTAL EXPENSES $160,043,520

Year-over-Year Comparison

2023 2022 Change
Revenue $159,823,247 $154,247,401 +0.0%
Expenses $160,043,520 $150,376,492 +0.1%
Net Income $-220,273 $3,870,909 -1.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Distress Indicator

Liquidity & Cash Position

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

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Governance

Voting Members
11
Independent Members
10
Employees
1005
Volunteers
314

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
6
$1,541,521
Total Directors
11
$1,035,300
Key Employees
7
$2,737,146
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CURT BAILEY PRESIDENT & CEO 40.00
Officer Director
$968,288 $39,012 $1,007,300
VICKI FINSON EXECUTIVE VICE PRESIDENT (THRU 7/23) 40.00
Key Emp
$460,283 $16,474 $476,757
JOSE LOPEZ MD CHIEF SCIENTIFIC OFFICER 40.00
Key Emp
$408,542 $38,566 $447,108
DAVID LIN MD VICE PRESIDENT 40.00
Highest
$424,462 $19,800 $444,262
THERESA NESTER MD CO-CHIEF MEDICAL OFFICER MED SVCS 40.00
Key Emp
$394,120 $38,566 $432,686
KIRSTEN ALCORN MD CO-CHIEF MEDICAL OFFICER MED SVCS 40.00
Key Emp
$391,803 $28,666 $420,469
ROBERT GLEASON TREASURER & CFO (THRU 6/24) 40.00
Officer
$353,586 $53,554 $407,140
SUE NIXON EXECUTIVE VICE PRESIDENT 40.00
Key Emp
$311,183 $27,843 $339,026
JOSEPH VETTO CHIEF INFORMATION OFFICER 40.00
Highest
$294,444 $41,349 $335,793
IDOIA GIMFERRER ASHI MEDICAL DIRECTOR 40.00
Highest
$285,256 $43,238 $328,494
AARON POSEY EXECUTIVE VICE PRESIDENT 40.00
Highest
$294,829 $26,385 $321,214
JING-FEI DONG MD MEMBER, RESEARCH 40.00
Highest
$279,410 $35,207 $314,617
MARK DESTREE EXECUTIVE VICE PRESIDENT 40.00
Key Emp
$270,050 $43,615 $313,665
CHRISTINE DONATELLI CHIEF QUALITY & COMPLIANCE OFFICER 40.00
Key Emp
$272,252 $35,183 $307,435
MAXINE SELLERS SECRETARY 40.00
Officer
$95,880 $15,201 $111,081
MOLLY FIRTH BOARD CHAIR (THRU 1/24) 1.00
Officer Director
$8,000 $0 $8,000
TREVOR GOOBY BOARD VICE CHAIR/ BOARD CHAIR 1.00
Officer Director
$8,000 $0 $8,000
JEFF PERRY CFO (FROM 6/24) 40.00
Officer
$0 $0 $0
CHRISTINE HENNINGSGAARD BOARD TRUSTEE 1.00
Director
$6,000 $0 $6,000
GENE FARRELL MBA BOARD TRUSTEE 1.00
Director
$4,000 $0 $4,000
ORLANDO WILLIAMS BOARD TRUSTEE 1.00
Director
$2,000 $0 $2,000
DREW CORRIGAN BOARD TRUSTEE 1.00
Director
$0 $0 $0
JOYCE JACKSON BOARD TRUSTEE 1.00
Director
$0 $0 $0
MIHO DOUGHERTY MD MPH BOARD TRUSTEE 1.00
Director
$0 $0 $0
KIRSTEN ARANDA SCHWAB MBA BOARD TRUSTEE (THRU 6/24) 1.00
Director
$0 $0 $0
SEAN W SIGMON BOARD TRUSTEE (THRU 6/24) 1.00
Director
$0 $0 $0
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
2025 No data No data No data No data
2024 $159,823,247 $160,043,520 $112,280,040 $-220,273
2023 $154,247,401 $150,376,492 $112,716,614 $3,870,909
2022 $134,313,338 $136,370,220 $100,462,161 $-2,056,882
2021 $185,761,026 $173,456,707 $105,722,670 $12,304,319
2020 $198,443,552 $213,969,320 $124,042,323 $-15,525,768
2019 $209,722,936 $213,177,157 $139,133,799 $-3,454,221
2018 $197,932,308 $203,735,067 $147,232,810 $-5,802,759
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