Versiti Inc
- Assets
- $31.7m
- Revenue
- $28.4m
- Investments
- $0.0
- Employees
- 9
- Location
- Milwaukee, WI
- Founding
- 06/2012
- Data as of
- 12/2021
- EIN
- 45-4675354
Organization Overview
Versiti Inc is located in Milwaukee, WI. The organization was established in 2012. According to its NTEE Classification (E11) the organization is classified as: Single Organization Support, under the broad grouping of Health Care and related organizations. As of 12/2021, Versiti Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Versiti Inc 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 12/2021, Versiti Inc generated $28.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 35.3% each year . All expenses for the organization totaled $28.5m during the year ending 12/2021. While expenses have increased by 35.4% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
(SEE SCHEDULE O)VERSITI SUPPORTS CHARITABLE, SCIENTIFIC AND EDUCATIONAL PURPOSES OF ITS AFFILIATES AND OTHER SIMILAR ENTITIES ENGAGED IN BLOOD TRANSFUSION, SERVICES AND RESEARCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VERSITI SUPPORTS VERSITI WISCONSIN, VERSITI ILLINOIS, VERSITI MICHIGAN AND VERSITI INDIANA BY PROVIDING VARIOUS CENTRALIZED MANAGEMENT AND ADMINISTRATIVE FUNCTIONS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Perras Treasurer | OfficerTrustee | 1 | $0 |
Thomas Hauske Jr Chair | OfficerTrustee | 1 | $0 |
L Alan Whaley Secretary | OfficerTrustee | 1 | $0 |
Fred Geilfuss Vice Chair; Legal Advisor | OfficerTrustee | 1 | $0 |
Chris Miskel President & CEO | OfficerTrustee | 1 | $0 |
Bart Reuter Evp & General Counsel | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ceridian Hr Software Support | 12/30/21 | $648,768 |
Oracle America Inc Software Consulting | 12/30/21 | $789,435 |
Foley & Lardner Legal Services | 12/30/21 | $213,141 |
Omnisource Marketing Group Marketing | 12/30/21 | $170,369 |
Ci Design Inc Media Consulting | 12/30/21 | $1,173,398 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $28,367,000 |
| Investment income | $61,988 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,723 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,432,711 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $43,000 |
| 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 | $0 |
| Fees for services: Legal | $289,705 |
| Fees for services: Accounting | $429,460 |
| Fees for services: Lobbying | $2,086 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $53,307 |
| Fees for services: Other | $3,194,292 |
| Advertising and promotion | $967,900 |
| Office expenses | $35,191 |
| Information technology | $1,946,208 |
| Royalties | $0 |
| Occupancy | $8,680 |
| Travel | $184,771 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,068 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $490,132 |
| Insurance | $1,272,227 |
| All other expenses | $228,676 |
| Total functional expenses | $28,520,357 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,959,720 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,477,985 |
| 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 | $1,001,064 |
| Net Land, buildings, and equipment | $1,822,163 |
| Investments—publicly traded securities | $3,000,194 |
| Investments—other securities | $0 |
| Investments—program-related | $350,000 |
| Intangible assets | $0 |
| Other assets | $64,000 |
| Total assets | $31,675,126 |
| Accounts payable and accrued expenses | $28,878,780 |
| 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 | $2,446,346 |
| Total liabilities | $31,325,126 |
| Net assets without donor restrictions | $350,000 |
| 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 | $31,675,126 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Versiti Inc has recieved totaling $18.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $18 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Edward Health Ventures Naperville, IL | $136,057,032 | $72,129,789 |
Sinai Health System Chicago, IL | $281,453,478 | $93,419,606 |
Freeport Regional Health Care Found Ation Freeport, IL | $44,647,544 | $45,400,897 |
Teamsters Local 346 Health Fund Trust Bloomington, MN | $55,790,921 | $66,782,892 |
Ann & Robert H Lurie Childrens Hospital Of Chicago Foundation Chicago, IL | $630,869 | $58,277,786 |
Healthpartners Institute Minneapolis, MN | $92,324,263 | $47,741,048 |
Cincinnati Bell Health And Welfare Trust Milwaukee, WI | $10,960 | $35,872,247 |
Childrens Hospital Of Wisconsin Foundation Inc Milwaukee, WI | $1,206,475,471 | $94,444,184 |
International Brotherhood Of Elec Workers 683 Health & Welfare Fund Lansing, MI | $27,261,838 | $34,571,326 |
Milwaukee Regional Medical Center Thermal Service Inc Milwaukee, WI | $234,655,372 | $32,150,552 |
Midwest Medical Center Galena, IL | $42,348,172 | $34,873,960 |
Versiti Inc Milwaukee, WI | $31,675,126 | $28,432,711 |