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US Public Safety Citizen@PubSafetyHero · Feb 19, 2026

The American Red Cross made $3.2 billion last year. 🩸 67% of that revenue came from charging hospitals a processing…

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Summary

The American Red Cross generated $3.2 billion in revenue in FY2023, with 67% ($2.17 billion) coming from processing fees charged to hospitals for blood donated for free by volunteers. The organization operates primarily as a biomedical services company supplying 40% of the U.S. blood supply, with CEO compensation at $873,211 and improving financial metrics including growing net assets and declining debt.

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  1. #1

    The American Red Cross made $3.2 billion last year. 🩸 67% of that revenue came from charging hospitals a processing fee for blood that people donated for free. All of this is in their IRS Form 990. Thread 🧵

    US Public Safety Citizen@PubSafetyHero · Feb 19, 2026

    There's a nonprofit every American knows. Millions donate to it — blood and dollars — every year. We pulled their IRS Form 990. The numbers behind the brand are not what the brand suggests. Thread tomorrow morning. 🧵

  2. #2

    Here's how it works: • Donors give blood voluntarily — free • Red Cross collects, tests & processes it • Hospitals pay a "processing fee" • That fee = $2,167,924,872 in FY2023 IRS Form 990, Part VIII, Line 2 | EIN 53-0196605

  3. #3

    By revenue, the American Red Cross is primarily a biomedical services company operating inside a nonprofit structure. They supply an estimated 40% of the U.S. blood supply. That's $3.2B/year in total revenue. Most Americans don't know this.

  4. #4

    CEO Gail McGovern earned $873,211 in FY2023. 💰 That's ~10x the average Red Cross employee salary. Her pay has grown 40% since FY2017 ($621,956 → $873,211). Source: Form 990, Part VII, Schedule J | EIN 53-0196605

  5. #5

    The top 15 officers and employees took home ~$7.84 million combined in FY2023. COO: $780,995 President, Biomedical: $728,500 CFO: $638,189 All from their Form 990, Part VII | EIN 53-0196605

  6. #6

    17,410 employees. Workforce compensation: ~$1.27 billion in FY2023 — their single largest expense. That's 42.7% of total functional expenses. Source: Form 990, Part IX | EIN 53-0196605

  7. #7

    The Red Cross carries $512.7 million in unsecured debt. Against $3.02 billion in net assets. Debt-to-net-assets: ~17% — manageable, but worth knowing. Source: Form 990, Part X | EIN 53-0196605 (FY2023)

  8. #8

    How much does the Red Cross get from the government? $54 million in grants — just 1.68% of total revenue. They're not a government-funded agency. They run on blood processing fees and donor contributions. Source: Form 990, Part VIII | EIN 53-0196605

  9. #9

    Their direct fundraising events ran at a LOSS in FY2023. Raised: $3,103,039 Spent: $3,952,668 Net: -$849,629 (Note: this is Part VIII, Line 8 — fundraising events only, not the full $919M donation program) Source: Form 990, Part VIII, Lines 8a–8c

  10. #10

    Top 5 contractors in FY2023: $66 million total. • $26M — printing & mailing (One & All) • $11M — marketing (Generator Media Analytics) • $10M — tech consulting (Mindtree) • $10M — courier (Dropoff Inc) Source: Form 990, Part VII, Section B

  11. #11

    To be fair — their balance sheet is improving: • Net assets: $2.37B (FY2021) → $3.02B (FY2023) = +$651M • Total liabilities DECLINED from $1.30B to $1.01B • 3-year revenue surplus in all 3 years analyzed Source: Form 990, Part X | EIN 53-0196605

  12. #12

    All of this is public record. IRS Form 990, EIN 53-0196605. Search it free: ProPublica Nonprofit Explorer → projects.propublica.org/nonprofits/org… Before you donate blood or money — know how the machine works.