Each year, millions of people donate blood at blood centers run by not-for-profit organizations such as the American Red Cross, which supply blood products to hospitals. Many people can also give blood plasma and receive cash compensation from for-profit pharmaceutical companies, which use plasma to develop and manufacture medical products. Blood donations raise interesting accounting issues. How should the blood and plasma donations be accounted for by a not-for-profit organization and a for-profit company, respectively? How are these similar transactions manifested differently in their financial statements? Is the accounting treatment consistent with the objectives of the entities? What are the ethical and social issues in paying for plasma donation? The case leverages students' familiarity with accounting standards for business enterprises to deepen their understanding of not-for-profit accounting. The case also challenges students to think critically about accounting concepts and improve their Codification research skills.