The Institute For Transfusion Medicine
- Assets
- $0.0
- Revenue
- $5.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Pittsburgh, PA
- Founding
- 03/2010
- Data as of
- 12/2019
- EIN
- 25-1562714
Organization Overview
The Institute For Transfusion Medicine is located in Pittsburgh, PA. The organization was established in 2010. According to its NTEE Classification (E61) the organization is classified as: Blood Banks, under the broad grouping of Health Care and related organizations. Institute For Transfusion Medicine is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2019, Institute For Transfusion Medicine generated $5.4m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 31.1% each year . All expenses for the organization totaled $3.0m during the year ending 12/2019. While expenses have increased by 2.9% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE BEST IN CLASS BLOOD PRODUCTS AND CLINICAL SERVICES TO MEET THE NEEDS OF THE HEALTHCARE COMMUNITY, PATIENTS & OUR DONORS THROUGH ADVANCED TRANSFUSION MEDICINE PRACTICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INSTITUTE FOR TRANSFUSION MEDICINE (ITXM) IS THE "PARENT" ENTITY OF A HEALTH CARE SYSTEM DEDICATED TO PROVIDING BLOOD AND BLOOD-RELATED PRODUCTS AND SERVICES TO THE COMMUNITY. ITXM PROVIDES CERTAIN SERVICES FOR ITSELF AND FOR ITS AFFILIATED ORGANIZATIONS, INCLUDING ACCOUNTING, PURCHASING, HUMAN RESOURCES, QUALITY ASSURANCE, INFORMATION SYSTEMS, STRATEGIC PLANNING, EDUCATION, MAINTENANCE AND CORPORATE ADMINISTRTATION. THE CONSOLIDATION OF THESE SERVICES IN ONE ENTITY PROVIDES ECONOMIES OF SCALE AND EFFICIENCY SO AS TO IMPROVE THE DELIVERY OF COST EFFECTIVE HEALTH CARE TO THE COMMUNITY AT LARGE. ITXM PROVIDES TRAINING PROGRAMS FOR MEDICAL RESIDENTS AND FELLOWS IN THE AREAS OF TRANSFUSION MEDICINE AND COAGULATION. ITXM IS ALSO INVOLVED IN RESEARCH. ITXM MEDICAL STAFF PARTICIPATE IN IMPORTANT NATIONAL CLINICAL TRIALS IN BLOOD SAFETY, TRANSFUSION AND HEMOSTASIS. EDUCATING THE COMMUNITY IS ALSO A SERVICE PROVIDED BY ITXM. THROUGH AN ACTIVE SPEAKERS' BUREAU AND JOINT PROGRAMS WITH OTHER HEALTH CARE PROVIDERS, ITXM PRESENTS INFORMATION ON THE SAFETY OF BLOOD, BLOOD COMPONENT THERAPY, COAGULATION, THROMBOSIS AND OTHER PERTINENT TOPICS. SINCE IT IS ESTIMATED THAT TWO OUT OF FIVE PEOPLE WILL NEED A BLOOD TRANSFUSION AT SOME POINT IN THEIR LIVES, THESE EDUCATIONAL OPPORTUNITIES HELP CAREGIVERS, PATIENTS AND POTENTIAL RECIPIENTS OF THIS PRECIOUS RESOURCE UNDERSTAND THE BLOOD SUPPLY AND TRANSFUSION ISSUES AND ALLEVIATE SOME OF THE MISCONCEPTIONS RELATED TO TRANSFUSION MEDICINE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert S Cole Chair | OfficerTrustee | 1 | $0 |
Patricia Abrego-Santuc Vice Chair | OfficerTrustee | 1 | $0 |
Paul E Stander MD Secretary/treasurer | OfficerTrustee | 1 | $0 |
Charles Wilcox III Division President | Officer | 5 | $0 |
Bhavi Shah General Counsel/asst Secretary | Officer | 1 | $0 |
Tanya Perry CFO | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
University Of Pittsburgh Research Personnel | 6/29/17 | $419,830 |
Upp-department Of Pathology Physician Services | 6/29/17 | $1,195,476 |
Summit Systems Integration Llc Software Integration | 6/29/17 | $419,353 |
Nixon Peabody Llc Legal Services | 6/29/17 | $478,796 |
Synergy Management Consultants Llc Business Mgmt Consul | 6/29/17 | $1,171,251 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,115,491 |
| Government grants | $236,021 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,351,512 |
| Total Program Service Revenue | $0 |
| Investment income | $1,364,600 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,651,146 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,367,258 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,500,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $331,716 |
| Fees for services: Legal | $262,469 |
| Fees for services: Accounting | -$4,347 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $62,783 |
| Fees for services: Other | $0 |
| Advertising and promotion | $270,000 |
| Office expenses | $10,783 |
| Information technology | $150 |
| Royalties | $0 |
| Occupancy | $37,937 |
| Travel | $2,440 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $822,893 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $83 |
| All other expenses | $0 |
| Total functional expenses | $3,009,555 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $0 |
Grants Awarded
Over the last fiscal year, The Institute For Transfusion Medicine has awarded $2,300,468 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Pittsburgh, PA PURPOSE: ESTABLISH A HEMOSTASIS CLINIC | $1,500,000 |
Pittsburgh, PA PURPOSE: BLOOD PRODUCT RESEARCH STUDY | $499,956 |
Charlottesville, VA PURPOSE: TRANSFUSION SAFETY OFFICER | $215,000 |
UPMC-UNIVERSITY OF PGH PHY PURPOSE: SICKLE CELL TREATMENT | $85,512 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Institute For Transfusion Medicine has recieved totaling $111,000.
| Awarding Organization | Amount |
|---|---|
Blood Science Foundation Pittsburgh, PA PURPOSE: OPERATIONAL SUPPORT AND FELLOWSHIP | $111,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Association Of Blood Banks Bethesda, MD | $24,237,461 | $17,845,261 |
Central Pennsylvania Blood Bank Hummelstown, PA | $15,323,088 | $15,845,054 |
Blood Bank Of Delmarva Inc Newark, DE | $0 | $12,947,614 |
Community Blood Bank Of Erie County Erie, PA | $4,765,344 | $7,315,066 |
Williamsport Area Ambulance Service Cooperative Pittsburgh, PA | $2,645,116 | $6,256,971 |
Pocono Mountain Regional Emergency Medical Services Inc Tobyhanna, PA | $3,234,730 | $3,504,983 |
The Institute For Transfusion Medicine Pittsburgh, PA | $0 | $5,367,258 |
Brooklyn United Methodist Continuum Services Inc Brooklyn, NY | $2,535,884 | $1,632,294 |
Central Jersey Blood Center Inc Summit, NJ | $0 | $410,254 |
Blood Science Foundation Pittsburgh, PA | $54,733,900 | $2,135,841 |
Platelet Disorder Support Association Inc Brecksville, OH | $4,502,272 | $1,820,587 |
Childrens Cancer And Blood Foundation Inc New York, NY | $3,476,465 | $599,415 |