Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 1980.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
85 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
25 people listed on the 990; $5.4M paid to officers and key staff (Part VII, Section A).
Part VII, Section A · reportable compensation
President & CEO
$974,485Pt VII · Sec A
Chief Scientific Officer
$429,395Pt VII · Sec A
Co-Chief Medical Officer Med Svcs
$395,202Pt VII · Sec A
Co-Chief Medical Officer Med Svcs
$393,470Pt VII · Sec A
Executive Vice President
$341,595Pt VII · Sec A
Executive Vice President
$312,866Pt VII · Sec A
Chief Information Officer
$309,880Pt VII · Sec A
Treasurer & CFO
$305,045Pt VII · Sec A
Vice President (thru 6/24)
$294,942Pt VII · Sec A
Chief Quality & Compliance Officer
$290,280Pt VII · Sec A
Member, Assistant
$290,230Pt VII · Sec A
Ashi Medical Director
$290,013Pt VII · Sec A
Former Treasurer & CFO (thru 6/24)
$233,033Pt VII · Sec A
Executive Vice President
$218,648Pt VII · Sec A
Executive Vice President (thru 4/25)
$152,620Pt VII · Sec A
Secretary
$97,093Pt VII · Sec A
Board Chair
$8,000Pt VII · Sec A
Board Vice Chair
$6,000Pt VII · Sec A
Board Trustee
$4,000Pt VII · Sec A
Board Trustee
$4,000Pt VII · Sec A
Board Trustee
$4,000Pt VII · Sec A
Board Trustee
$0Pt VII · Sec A
Board Trustee
$0Pt VII · Sec A
Board Trustee
$0Pt VII · Sec A
Board Trustee
$0Pt VII · Sec A
Curt Bailey’s $974K as President & CEO is at the 52nd percentile of top reported officer pay among 1747 $100M+ health care nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Dr James Aubuchon | — | — | — | — | — | $1,075,608 |
| Curt Bailey | $974,485 | $968,288 | $809,099 | $765,282 | $775,212 | $361,425 |
| Vicki Finson | — | $460,283 | $291,808 | $279,218 | $264,750 | — |
| Jose Lopez MD | $429,395 | $408,542 | $392,961 | $362,984 | $340,138 | $317,168 |
| David Lin MD | $294,942 | $424,462 | $327,663 | $294,122 | $273,076 | — |
| Yanyun Wu MD | — | — | — | — | $146,571 | $416,355 |
| Theresa Nester MD | $395,202 | $394,120 | $364,580 | $338,626 | $282,671 | $247,722 |
| Kirsten Alcorn MD | $393,470 | $391,803 | $357,180 | — | — | — |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
See Bloodworks executive salaries →Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Improves health by researching, innovating, and providing excellent blood, medical, and lab services.
Questions for Bloodworks
Your first name shows with your question. Bloodworks answers here, for everyone.
2 programs · $139.9M · in their own filed words · FY2024
01
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.
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 91-1019655) · Dispute this line$129.2Mprogram expense
02
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.
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 91-1019655) · Dispute this line$10.7Mprogram expense
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
Schedule I · received and paid
Grants received · FY2024
The Scripps Research InstituteFY2024$491K
American Online Giving Foundation INCFY2024$108K
Donor Advised Charitable Giving INCFY2024$64K
Mayo ClinicFY2024$32K
The Seattle FoundationFY2024$8K
Total grants receivedfrom 10 funders$904K
Grants paid · 49 grants · $3.7M · 2019–2024
Unitemized GrantFY2024$290,483
University of WashingtonFY2024$59,511
Washington Institute for CoagulationWA · FY2024$9,609
Baylor College of MedicineTX · FY2024$8,474
Unitemized GrantFY2023$352,377
University of WashingtonFY2023$58,181
Swedish Health ServicesWA · FY2023$57,538
Baylor College of MedicineTX · FY2023$31,004
Washington Institute for CoagulationWA · FY2023$17,948
Unitemized GrantFY2022$431,990
University of WashingtonFY2022$59,053
University of WashingtonFY2022$32,662
Swedish Health ServicesWA · FY2022$32,614
Baylor College of MedicineTX · FY2022$29,989
University of Wisconsin-MadisonFY2022$10,755
Washington Institute for CoagulationWA · FY2022$7,800
University of UtahUT · FY2022$5,200
Unitemized GrantFY2021$438,300
Federal money
Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Jun 2025 · $5.3M federal money spent
Blood Diseases and Resources ResearchDepartment of Health and Human Services · ALN 93.839 · Direct and through Columbia University and 2 more$3.5M
Cardiovascular Diseases ResearchDepartment of Health and Human Services · ALN 93.837 · Through New Health Sciences, INC. and 2 more$606K
21st Century Cures Act - Precision Medicine InitiativeDepartment of Health and Human Services · ALN 93.368 · Through Scripps Research Institute$491K
Military Medical Research and DevelopmentDepartment of Defense · ALN 12.420 · Direct$266K
Allergy and Infectious Diseases ResearchDepartment of Health and Human Services · ALN 93.855 · Through University of Washington$223K
Plus 2 smaller programs.
The auditor reported no findings.
Year ending Jun 2024 · $5.4M federal money spent
Blood Diseases and Resources ResearchDepartment of Health and Human Services · ALN 93.839 · Direct and through Columbia University and 2 more$2.9M
21st Century Cures Act - Precision Medicine InitiativeDepartment of Health and Human Services · ALN 93.368 · Through Scripps Research Institute$738K
Military Medical Research and DevelopmentDepartment of Defense · ALN 12.420 · Direct$622K
Cardiovascular Diseases ResearchDepartment of Health and Human Services · ALN 93.837 · Through University of Texas-Houston and 1 more$497K
Biomedical Research and Research TrainingDepartment of Health and Human Services · ALN 93.859 · Through University of Maryland$430K
Plus 2 smaller programs.
The auditor reported no findings.
Year ending Jun 2023 · $4.2M federal money spent
Blood Diseases and Resources ResearchDepartment of Health and Human Services · ALN 93.839 · Direct and through Columbia University and 2 more$2.8M
Trans-Nih Research SupportDepartment of Health and Human Services · ALN 93.310 · Through Scripps Research Institute$560K
Military Medical Research and DevelopmentDepartment of Defense · ALN 12.420 · Direct$441K
Biomedical Research and Research TrainingDepartment of Health and Human Services · ALN 93.859 · Through University of Maryland$298K
Cardiovascular Diseases ResearchDepartment of Health and Human Services · ALN 93.837 · Through Oregon Health & Sciences University (1 of 2 Sponsors) and 2 more$75K
The auditor reported no findings.
Year ending Jun 2022 · $5.0M federal money spent
Blood Diseases and Resources ResearchDepartment of Health and Human Services · ALN 93.839 · Direct and through Columbia University and 3 more$3.6M
Trans-Nih Research SupportDepartment of Health and Human Services · ALN 93.310 · Through Scripps Research Institute$706K
Military Medical Research and DevelopmentDepartment of Defense · ALN 12.420 · Direct and through U.s. Army Medical Command Fast-Track Drugs and Biologics$639K
Cardiovascular Diseases ResearchDepartment of Health and Human Services · ALN 93.837 · Through Oregon Health & Science University$83K
The auditor reported no findings.
By the numbers
The FY2025 990, line by line.
Download 990
1The main four
Money inPt VIII
$167.5M
Ln 12
Fees for servicesLn 2g$164.7M
Gifts and grantsLn 1h$1.1M
Investment incomeLn 3$1.1M
Money outPt IX
$165.1M
Ln 25
Programscol B$139.9M
Managementcol C$24.8M
Fundraisingcol D$383K
Owns and owesPt X
$89.0M
net assets · Ln 32
Cash and savingsLn 1–2$10.6M
Total assetsLn 16$116.9M
LiabilitiesLn 26$27.9M
PeoplePt VI, VII
25
listed · VII A
PaidVII A21
Voting boardVI 1a10
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.1M
Noncash giftsLn 1g$101K
Fees for servicesLn 2g$164.7M
Investment incomeLn 3$1.1M
Other incomeLn 4–11$640K
Gains on assetsLn 7−$256K
Total revenueLn 12$167.5M
Assets in detailPt X, end of year
SavingsLn 2$10.6M
Cash and savings togetherLn 1–2$10.6M
Pledges and grants receivableLn 3$2.5M
Accounts receivableLn 4$21.6M
Inventories for sale or useLn 8$3.8M
Prepaid expenses and deferred chargesLn 9$3.0M
Land, buildings, equipmentLn 10c$32.6M
InvestmentsLn 11–13$33.4M
Other assetsLn 15$9.5M
Total assetsLn 16$116.9M
LiabilitiesLn 26$27.9M
Net assetsLn 32$89.0M
OperationsPt I, VI
EmployeesI 51,041
VolunteersI 6342
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$101K
Investment feesPt IX, Sch D
Investment fees, as reportedPt IX 11f$135K
Share of the $3.7M endowmentSch D 1g3.7%
Typical, median of 2,202 orgs0.44%
EndowmentSch D · Pt V
| Line | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|
| End of yearLn 1g | $3.7M | $3.7M | $3.6M | $3.2M | $3.4M |
| AddedLn 1b | $12K | $12K | $12K | $253K | $12K |
| SpentLn 1d–1f | $402K | $349K | $283K |
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $6.1M | $10.6M |
| InvestmentsLn 11–13 | $29.7M | $33.4M |
| Land, buildings, equipmentLn 10c | $34.7M | $32.6M |
| Total assetsLn 16 | $112.3M | $116.9M |
| LiabilitiesLn 26 | $28.7M | $27.9M |
| Net assetsLn 32 | $83.5M | $89.0M |
5Every line
Statement of functional expensesPt IX · every line
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $78K | $78K | ||
| Grants to domestic individualsLn 2 | $290K | $290K | ||
| Pay of officers and key staff (Part IX, line 5)Ln 5 | $4.3M | $2.4M | $1.9M | |
| Other salaries and wagesLn 7 | $73.1M | $61.9M | $11.0M | $269K |
| Pension plan contributionsLn 8 | $4.0M | $3.3M | $678K | $590 |
| Other employee benefitsLn 9 | $7.3M | $6.1M | $1.2M | $27K |
| Payroll taxesLn 10 | $6.7M | $5.3M | $1.3M | $21K |
| Legal feesLn 11b | $611K | $611K | ||
| Accounting feesLn 11c | $204K | $204K | ||
| Lobbying feesLn 11d | $19K | $19K | ||
| Investment management feesLn 11f | $135K | $135K | ||
| Other fees for servicesLn 11g | $2.7M | $2.0M | $698K | $368 |
| Advertising and promotionLn 12 | $3.3M | $3.3M | $41K | $10K |
| Office expensesLn 13 | $4.1M | $2.2M | $1.9M | $3K |
| Information technologyLn 14 | $6.1M | $5.0M | $1.0M | $21K |
| OccupancyLn 16 | $9.1M | $8.3M | $749K | $16K |
| TravelLn 17 | $556K | $461K | $95K | |
| Conferences, conventions and meetingsLn 19 | $338K | $150K | $186K | $730 |
| InterestLn 20 | $114K | $31K | $77K | $6K |
| Depreciation, depletion and amortizationLn 22 | $5.4M | $3.2M | $2.3M | $4K |
| InsuranceLn 23 | $1.4M | $1.2M | $245K | $5K |
| Other expenses (24a–d)Ln 24 | $35.2M | $34.7M | $485K | |
| Total functional expensesLn 25 | $165.1M | $139.9M | $24.8M | $383K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest ViewingFiled with the IRS May 8, 2026 | $167.5M | $165.1M | $2.5M | $89.0M | 990 PDF |
| FY2024Filed with the IRS May 9, 2025 | $159.8M | $160.0M | −$220K | $83.5M | 990 PDF |
| FY2023Filed with the IRS May 3, 2024 | $154.2M | $150.4M | $3.9M | $81.0M | 990 PDF |
| FY2022Filed with the IRS May 10, 2023 | $134.3M | $136.4M | −$2.1M | $74.9M | 990 PDF |
| FY2021Filed with the IRS May 9, 2022 | $185.8M | $173.5M | $12.3M | $80.3M | 990 PDF |
| FY2020Filed with the IRS May 4, 2021 | $198.4M | $214.0M | −$15.5M | $69.8M | 990 PDF |
Schedules filed Part IV
A · Public support
B · Donors
C · Political and lobbying
D · Assets and endowments
I · Grants
J · Pay
M · Noncash
O · Explanations
R · Related orgs
See the full FY2025 990
Part I · Summary $167,526,090 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,086,985$1,114,093
I-9 Program service revenuePrior year $157,050,934$164,669,504
I-10 Investment incomePrior year $777,462$847,100
I-11 Other revenuePrior year $907,866$895,393
I-12 Total revenuePrior year $159,823,247$167,526,090
I-13 Grants and similar amounts paidPrior year $517,048$368,077
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $91,569,230$95,394,333
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $67,957,242$69,290,905
I-18 Total expensesPrior year $160,043,520$165,053,315
I-19 Revenue less expensesPrior year −$220,273$2,472,775
Part VI · Governance 9 of 10 board members independent, no flags
VI-1a Voting members of the governing body10
VI-1b Independent voting members9
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $167,526,090 across 8 lines filed
Lines not itemized here account for $1,479,108 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$1,114,093
VIII-1g Noncash contributions (included above)$101,444
VIII-1h Total contributions, gifts and grants$1,114,093
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $163,190,396$163,190,396
VIII-3 Investment incomeExcluded from tax $1,102,712$1,102,712
VIII-6 Net rental income or lossExcluded from tax $895,393$895,393
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$255,612−$255,612
VIII-12 Total revenueRelated to mission $164,669,504 · Unrelated business $0 · Excluded from tax $1,742,493$167,526,090
Part IX · Statement of functional expenses $165,053,315 across 22 lines filed
IX-1 Grants to domestic organizationsPrograms $77,594$77,594
IX-2 Grants to domestic individualsPrograms $290,483$290,483
IX-5 Pay of officers and key staff (Part IX, line 5)Programs $2,372,365 · Management $1,907,627$4,279,992
IX-7 Other salaries and wagesPrograms $61,856,129 · Management $11,013,729 · Fundraising $269,476$73,139,334
IX-8 Pension plan contributionsPrograms $3,317,927 · Management $677,868 · Fundraising $590$3,996,385
IX-9 Other employee benefitsPrograms $6,110,338 · Management $1,183,610 · Fundraising $26,603$7,320,551
IX-10 Payroll taxesPrograms $5,318,210 · Management $1,318,553 · Fundraising $21,308$6,658,071
IX-11b Legal feesManagement $610,838$610,838
IX-11c Accounting feesManagement $203,500$203,500
IX-11d Lobbying feesManagement $19,326$19,326
IX-11f Investment management feesManagement $135,073$135,073
IX-11g Other fees for servicesPrograms $1,970,388 · Management $698,123 · Fundraising $368$2,668,879
IX-12 Advertising and promotionPrograms $3,257,552 · Management $40,620 · Fundraising $10,126$3,308,298
IX-13 Office expensesPrograms $2,242,382 · Management $1,863,863 · Fundraising $3,116$4,109,361
IX-14 Information technologyPrograms $5,046,770 · Management $1,000,960 · Fundraising $20,599$6,068,329
IX-16 OccupancyPrograms $8,327,106 · Management $749,438 · Fundraising $15,742$9,092,286
IX-17 TravelPrograms $461,283 · Management $95,180$556,463
IX-19 Conferences, conventions and meetingsPrograms $150,484 · Management $186,302 · Fundraising $730$337,516
IX-20 InterestPrograms $30,933 · Management $77,070 · Fundraising $5,519$113,522
IX-22 Depreciation, depletion and amortizationPrograms $3,171,239 · Management $2,265,859 · Fundraising $3,609$5,440,707
IX-23 InsurancePrograms $1,190,705 · Management $244,581 · Fundraising $5,138$1,440,424
IX-24 Other expenses (24a–d)Programs $34,701,859 · Management $484,524$35,186,383
IX-25 Total functional expensesPrograms $139,893,747 · Management $24,776,644 · Fundraising $382,924$165,053,315
Part X · Balance sheet $116,926,915 assets, 19 lines filed
X-2 Savings and temporary cash investmentsStart of year $6,085,407$10,551,148
X-3 Pledges and grants receivableStart of year $1,835,117$2,452,128
X-4 Accounts receivableStart of year $20,902,968$21,567,715
X-8 Inventories for sale or useStart of year $3,450,077$3,805,595
X-9 Prepaid expenses and deferred chargesStart of year $2,484,837$3,018,998
X-10c Land, buildings and equipment, netStart of year $34,651,173$32,617,698
X-11 Publicly traded securitiesStart of year $29,206,727$32,892,576
X-13 Program-related investmentsStart of year $525,000$496,611
X-15 Other assetsStart of year $13,138,734$9,524,446
X-16 Total assetsStart of year $112,280,040$116,926,915
X-17 Accounts payable and accrued expensesStart of year $14,842,759$17,679,904
X-19 Deferred revenueStart of year $40,404$54,967
X-24 Unsecured notes and loans payableStart of year $77,025$0
X-25 Other liabilitiesStart of year $13,787,323$10,178,702
X-26 Total liabilitiesStart of year $28,747,511$27,913,573
X-27 Net assets without donor restrictionsStart of year $78,951,381$84,571,013
X-28 Net assets with donor restrictionsStart of year $4,581,148$4,442,329
X-32 Total net assets or fund balancesStart of year $83,532,529$89,013,342
X-33 Total liabilities and net assetsStart of year $112,280,040$116,926,915
Part XI · Reconciliation of net assets $89,013,342 net assets at year end
XI-1 Total revenue$167,526,090
XI-2 Total expenses$165,053,315
XI-3 Revenue less expenses$2,472,775
XI-4 Net assets at start of year$83,532,529
XI-5 Net unrealized gains (losses) on investments$2,995,825
XI-9 Other changes in net assets$12,213
XI-10 Net assets at end of year$89,013,342
Form 990 e-file FY2025 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File
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