Innovative Transfusion Medicine Inc
- Assets
- $6.7m
- Revenue
- $41.6m
- Investments
- $0.0
- Employees
- 111
- Location
- Coral Springs, FL
- Founding
- 02/2019
- Data as of
- 12/2021
- EIN
- 83-0904582
Organization Overview
Innovative Transfusion Medicine Inc is located in Coral Springs, FL. The organization was established in 2019. 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 12/2021, Innovative Transfusion Medicine Inc employed 111 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Innovative Transfusion Medicine 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, Innovative Transfusion Medicine Inc generated $41.6m in total revenue. All expenses for the organization totaled $37.4m during the year ending 12/2021. While expenses have increased by 212.0% per year over the past 4 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
IMPROVE HEALTH COMMUNITY THROUGH WORK AND RESEARCH WITH BLOOD AND BLOOD PRODUCTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INNOVATIVE TRANSFUSION MEDICINE ("ITM") IS A FLORIDA CHARITABLE ORGANIZATION AS DESCRIBED IN THE INTERNAL REVENUE CODE (IRC) SECTION 501(C)(3) THAT PROVIDES FOR THE RECRUITMENT, COLLECTION, PROCESSING AND DISTRIBUTION OF BLOOD AND BLOOD PRODUCTS TO MEET THE NEEDS OF THE COMMUNITY. IMPROVE HEALTH OF COMMUNITY THROUGH WORK AND RESEARCH WITH BLOOD AND BLOOD PRODUCTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Enrique Sotolongo Chief Operations Officer | OfficerTrustee | 3 | $101,250 |
Robert Mckie Chief Financial Officer | OfficerTrustee | 35 | $62,308 |
Dr Arcadio Oliva Medical Director | Trustee | 3 | $27,000 |
Jennifer Hurley Member | Trustee | 12 | $0 |
Gregory Chiklis Member | Trustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Qualtex Labs Testing Services | 12/30/21 | $1,143,254 |
Jb Management Maintenance Mgmt & Maintenance | 12/30/21 | $217,276 |
Haemonetics Testing Services | 12/30/21 | $208,435 |
Macopharma Equipment | 12/30/21 | $142,175 |
Ic-medical Research Networx Llc Db Contracted Services | 12/30/21 | $426,735 |
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 | $2,849,304 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,849,304 |
| Total Program Service Revenue | $38,888,493 |
| Investment income | $73 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$195,915 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $41,552,267 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 | $2,933,545 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $73,998 |
| Payroll taxes | $113,059 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $117,995 |
| Fees for services: Accounting | $1,072 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $464,934 |
| Advertising and promotion | $5,573,733 |
| Office expenses | $475,217 |
| Information technology | $200,470 |
| Royalties | $0 |
| Occupancy | $662,739 |
| Travel | $64,226 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $107 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $362,044 |
| Insurance | $50,689 |
| All other expenses | $62,482 |
| Total functional expenses | $37,430,258 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,045,439 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $698,741 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $177,438 |
| Inventories for sale or use | $154,952 |
| Prepaid expenses and deferred charges | $93,227 |
| Net Land, buildings, and equipment | $1,585,038 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $945,454 |
| Other assets | $23,624 |
| Total assets | $6,723,913 |
| Accounts payable and accrued expenses | $1,298,033 |
| 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 | $1,298,033 |
| 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 | $5,425,880 |
| Total liabilities and net assets/fund balances | $6,723,913 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lifesouth Community Blood Centers Inc Gainesville, FL | $90,664,002 | $120,702,410 |
Innovative Transfusion Medicine Inc Coral Springs, FL | $6,723,913 | $41,552,267 |
Suncoast Communities Blood Bank Inc Bradenton, FL | $21,571,666 | $21,750,691 |
Walter L Shepeard Community Blood Center Inc Augusta, GA | $11,216,147 | $12,429,097 |
Florida Hemophilia Association Inc Fort Lauderdale, FL | $1,088,748 | $442,077 |
Lloyd-Goodwin Foundation Inc Suwanee, GA | $312,540 | $4,041 |