Overview
What is Lifebanc?
Lifebanc is a renowned nonprofit organization based in Cleveland, Ohio, established in 1986. Focused on saving and healing lives, they specialize in organ, eye, and tissue donation. With a mission to make donation an honor and personal responsibility, Lifebanc serves a population of over four million people in Northeast Ohio and collaborates with 80 hospitals in a 20-county area. Their team, including volunteers and staff, educates the public about donation, encourage designation, and offer grief support services to families. Governed by a volunteer board of directors, Lifebanc has saved countless lives, with 205 organ donations and 821 tissue and eye donations recorded in 2022. Their extensive care for donor families includes grief support and anonymous communication between families and recipients. Despite the rising number of donors, there is still a critical organ shortage in the US, with over 103,000 people waiting for a transplant and over 1,300 in Northeast Ohio. The best chance for those still waiting is by increasing the number of organ, eye, and tissue donor registrations. In 2022, over 60,000 new registrations were recorded in Northeast Ohio.
Official website here: www.lifebanc.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 96%, Four-Star out of Four Star rating.
Lifebanc has achieved a remarkable Four-Star rating from Charity Navigator, reflecting its high level of accountability and financial management. The organization scored a perfect 100% in categories such as having a majority of independent board members and maintaining a strong financial oversight structure. Its impressive program expense ratio of 90.02% indicates that a significant portion of its funds is directed toward its programs rather than administrative costs.
The charity exhibits robust governance practices, including documented policies for conflict of interest and whistleblower protection, as well as compliance with document retention standards. The organization has no history of material diversion of assets, further enhancing its reputation for integrity. Lifebanc's fiscal metrics show a healthy liabilities to assets ratio, indicating sound financial stability.
While the overall rating is highly favorable, users might look for additional qualitative feedback on Lifebanc's impact and effectiveness. Nonetheless, the quantitative data underscores a strong commitment to transparency and responsible stewardship of resources, making Lifebanc a trustworthy nonprofit in its field.
This AI summary has been generated from information found on Charity Navigator.
Is Lifebanc legitimate?
Lifebanc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lifebanc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $786,266
Professional Fundraising Fees: $0
Other Salaries and Wages: $9,870,613
For more financial information, click here
Official website here: www.lifebanc.org
What is the mission statement of Lifebanc?
Lifebanc is a nonprofit organization dedicated to saving and healing lives through organ, eye, and tissue donation. Their mission is to inspire a culture where donation is embraced as an honor and a personal responsibility. With a history dating back to 1986, Lifebanc has been a leader in the field, serving a population of over four million people and working with 80 hospitals in a 20-county area. The organization educates the public about donation, encourages individuals to make donation decisions, and offers grief support services to families. In 2022, a record number of people in Northeast Ohio gave the gift of life through organ and tissue donation, resulting in 557 organs donated that saved the lives of 484 people. Despite the increase in donors, there remains a critical organ shortage in the United States, with over 103,000 people waiting for a life-saving organ transplant across the country. Lifebanc helps coordinate anonymous communication between donor families and recipients and facilitated over 600 communications in 2022. The best chance for those still waiting for a transplant is by increasing the number of people who register their wishes to be an organ, eye, and tissue donor.
Official website here: www.lifebanc.org
Who is the CEO of Lifebanc?
Barbara Drobney is the Board Member of Lifebanc. The CEO's salary of Lifebanc is $511,699 and their total compensation is $553,011.
Official website here: www.lifebanc.org
What is the revenue of Lifebanc?
Lifebanc's revenue in 2022 was $62,281,854.
Official website here: www.lifebanc.org
Who are the executives of Lifebanc and what are their salaries?
The average compensation at Lifebanc during 2022 was $57,918. There are 184 employees and 112 volunteers at Lifebanc.
Here are 26 key members and their salaries (Lifebanc's CEO's salary is $511,699 and their total compensation is $553,011):
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Official website here: www.lifebanc.org
Where can I find the form 990 for Lifebanc?
Lifebanc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lifebanc.org
Learn more at the official website: www.lifebanc.org
Mission Statement of Lifebanc
Lifebanc, a nonprofit organization based in Northeast Ohio, is dedicated to saving and healing lives through organ, eye, and tissue donation. With a rich history dating back to 1986, this esteemed organization has become a leader in the field and is highly respected both regionally and nationally. Lifebanc serves a population of over four million people and works with 80 hospitals in a 20-county area.
The mission of Lifebanc is to save lives by facilitating organ and tissue donation. They strive to make donation an honor and a personal responsibility. Guided by values such as service, teamwork, integrity, commitment, innovation, and quality, Lifebanc's team and volunteers work diligently to educate the public about the importance of donation and offer grief support services to families touched by donation.
In 2022, a record number of Northeast Ohioans gave the gift of life through organ donation, and an additional 821 individuals donated tissue and eyes. These generous donors resulted in 557 organs being donated, saving the lives of 484 people. The impact of donated tissue is significant, as it saves lives in various ways, including repairing damaged hearts and restoring sight to tens of thousands of people.
Lifebanc extends its care to the families of donors, offering extensive support services beginning at their moment of need and continuing for up to two years after the donation. These services include individual counseling, group counseling, and a host of other activities. In 2022, Lifebanc communicated with over 2,500 families, providing 945 hours of individual counseling and offering five 10-week support groups and four one-time seminars.
Although there has been an increase in organ, eye, and tissue donors, there is still a critical organ shortage in the United States. Over 103,000 people are currently waiting for a life-saving organ transplant across the country, and over 1,300 are waiting in Northeast Ohio alone. In 2022, 200 people in Northeast Ohio either died waiting for an organ or became too sick to transplant. To increase the number of people who receive the life-saving transplant they need, Lifebanc encourages more individuals to register their wishes to be an organ, eye, and tissue donor. In 2022, over 60,000 people in Northeast Ohio registered for the first time on the Ohio Donor Registry.
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Impact
October, 2024
Lifebanc has a profound impact on the lives of individuals and families in Northeast Ohio through its pivotal role in organ, eye, and tissue donation. Since its inception in 1986, Lifebanc has emerged as a leader in the field, contributing to the significant increase in donations and thus saving lives. In 2022 alone, Lifebanc facilitated the donation of 557 organs, impacting the lives of 484 recipients. This marks a notable 40% rise in lives saved by organ donors since 2014, highlighting the organization’s effectiveness and outreach.
Lifebanc's efforts extend beyond organ donation to an extensive network of educational programs aimed at raising awareness about the importance of organ and tissue donation. By working with over 80 hospitals across a 20-county area, Lifebanc reaches a population of more than four million, encouraging individuals to make informed choices about their donation decisions. Their strategic approach involves not just educational outreach but also providing robust support services to donor families, which includes counseling and group support lasting up to two years post-donation.
The organization also facilitates meaningful connections between donor families and recipients. In 2022, over 600 communications were coordinated, fostering a sense of closure and gratitude among those affected by the donation process. Lifebanc addresses the critical organ shortage in the United States, where over 103,000 individuals await life-saving transplants, emphasizing the urgent need for more registrations. Their proactive initiatives led to 60,000 new registrations on the Ohio Donor Registry in just one year.
Through its commitment to service, teamwork, and innovation, Lifebanc pursues a future where donation is recognized as both an honor and a personal responsibility. The impact of Lifebanc resonates throughout the region, significantly enhancing the lives of many while aiming to alleviate the ongoing shortage of organs available for transplant.
This information is meant to be a general summary of Lifebanc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $378,566
- Program Service Revenue: $61,382,395
- Gross Receipts: $62,448,730
Assets and Liabilities:
- Total Assets: $51,659,681
- Total Liabilities: $12,005,744
- Net Assets: $39,653,937
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
HUMAN ORGAN AND TISSUE PROCUREMEN
Revenue
$56,409,354
MEDICARE REIMBURSEMENT
Revenue
$4,973,041
Organization Details
Founding Year
1986
Phone
(216) 752-5433Principal Officer
Barbara Drobney
Main Address
4775 RICHMOND ROAD, CLEVELAND, OH, 441285919
Website
www.lifebanc.orgNTEE Category
Code: E65 - Health
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