Innovative Blood Resources
- Assets
- $46.4m
- Revenue
- $62.7m
- Investments
- $1.3m
- Employees
- 561
- Location
- St Paul, MN
- Founding
- 12/1949
- Data as of
- 03/2019
- EIN
- 41-0693869
Organization Overview
Innovative Blood Resources is located in St Paul, MN. The organization was established in 1949. According to its NTEE Classification (E61) the organization is classified as: Blood Banks, under the broad grouping of Health Care and related organizations. As of 03/2019, Innovative Blood Resources employed 561 individuals. Innovative Blood Resources 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 03/2019, Innovative Blood Resources generated $62.7m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $62.6m during the year ending 03/2019. While expenses have increased by 2.6% 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
SAVING LIVES BY PROVIDING BLOOD AND BIOMEDICAL SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INNOVATIVE BLOOD RESOURCES (IBR) IS A NONPROFIT COMMUNITY BLOOD CENTER THAT SERVES AS THE MAJOR SUPPLIER OF BLOOD AND BLOOD COMPONENTS TO 50 HOSPITALS IN THE TWIN CITIES METRO AREA, NORTHERN MINNESOTA, NORTHWESTERN WISCONSIN, AND NEBRASKA. INNOVATIVE BLOOD RESOURCES IS A LEADER IN TRANSFUSION MEDICINE, PROVIDING EXPERT TECHNICAL SERVICES TO CLIENTS THROUGHOUT THE COUNTRY. AMONG THE SERVICES INNOVATIVE BLOOD RESOURCES PROVIDES ARE CONSULTING, REFERENCE LABORATORY WORK, VIROLOGY TESTING, RESEARCH, AND ORGAN AND MARROW TRANSPLANTATION SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donald C Berglund Former CEO Of Ibr | 0 | $806,366 | |
Jeffrey D Allen Chief Operating Officer | Officer | 50 | $555,180 |
Jed B Gorlin MD Vp, Medical & Quality Affairs | 50 | $343,468 | |
Nancy L Van Buren MD Associate Medical Director | 50 | $265,601 | |
Katherine M Geist Vp, Donor Services | 50 | $192,504 | |
Ellen C Disalvo President Ncbb Division | 50 | $186,213 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Midnite Express Overnight Courier | 3/30/19 | $490,273 |
Mcgough Facility Management Facility Maintenance | 3/30/19 | $481,998 |
Cardinal Health Overnight Courier | 3/30/19 | $329,284 |
Laboratory Corp Of America Blood Testing | 3/30/19 | $173,924 |
Hybrid Courier Service Local Courier | 3/30/19 | $158,230 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $175,082 |
| Investment income | $440,901 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $52,527 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $62,700,542 |
| Statement of Expenses | |
|---|---|
| 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. | $335,689 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,695,227 |
| Pension plan accruals and contributions | $694,203 |
| Other employee benefits | $3,545,821 |
| Payroll taxes | $1,555,683 |
| Fees for services: Management | $1,500,000 |
| Fees for services: Legal | $6,723 |
| Fees for services: Accounting | $49,234 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $62,321 |
| Fees for services: Other | $440,222 |
| Advertising and promotion | $257,254 |
| Office expenses | $2,686,385 |
| Information technology | $930,172 |
| Royalties | $0 |
| Occupancy | $1,720,547 |
| Travel | $500,301 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $58,254 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,832,024 |
| Insurance | $292,732 |
| All other expenses | $0 |
| Total functional expenses | $62,557,904 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $574,532 |
| Savings and temporary cash investments | $6,549,707 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,799,259 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,331,887 |
| Prepaid expenses and deferred charges | $728,992 |
| Investments—publicly traded securities | $11,082,525 |
| Investments—other securities | $1,332,564 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $46,399,796 |
| Accounts payable and accrued expenses | $6,646,731 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $837,519 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $48,113 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $670,818 |
| Total liabilities | $8,203,181 |
| Net assets without donor restrictions | $38,130,674 |
| Net assets with donor restrictions | $65,941 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $38,196,615 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Innovative Blood Resources has recieved totaling $11,000.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $5,500 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $5,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Impactlife Davenport, IA | $53,227,230 | $87,660,123 |
Innovative Blood Resources St Paul, MN | $46,399,796 | $62,700,542 |
Lifeserve Blood Center Des Moines, IA | $80,703,832 | $54,407,994 |
Community Blood Center Inc Appleton, WI | $38,245,245 | $21,183,323 |
Blood Center Of Northcentral Wisconsin Inc Wausau, WI | $5,598,313 | $2,668,833 |
American Donor Services Inc Cottage Grove, MN | $2,480,593 | $2,191,857 |
Hemophilia Of Iowa Inc Des Moines, IA | $412,563 | $133,363 |
Dak-Minn Blood Bank Grand Forks, ND | $328,595 | $112,668 |
Blood Banks Association Of New York State Inc St Paul, MN | $63,487 | $0 |