Texas Mutual Insurance Company
501(c)(27)
Strong reserves
Texas Mutual Insurance Company is a 501(c)(27) organization based in Austin, Texas, registered in 2000, with $1,532,187,813 in FY2024 revenue.
2200 Aldrich St, Austin, TX, 78723 EIN 74-2615873 Since 2000
Revenue (FY2024)
$1.5B
▲ 10.5% vs prior year
Expenses (FY2024)
$1.3B
Net assets
$5.0B
Employees
1,102
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Texas Mutual Insurance Company— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating46 mo reserves · +14% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Texas Mutual Insurance Company: 46 mo reserves · +14% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Texas Mutual Insurance Company: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Texas Mutual Insurance Company: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
Show this grade on your website
A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Mission
Established by texas statute to provide a stable, competitive source of workers' compensation insurance for texas employers, acts as an insurer of last resort, and helps to prevent on-the-job injuries and illnesses and minimize their consequences.
Contact & location
Financial trends
Revenue grew from $1.3B (FY2013) to $1.5B (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $3.5BNet assets $5.0B
Operating margin
14.1%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$8.6B
Total liabilities
$3.5B
Net assets
$5.0B
Salaries & benefits
$171.8M
13% of expenses
Board members
9
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $1,532,187,813▲10.5% | $1,316,092,367▲2.4% | $5,047,120,795▲3.5% | $8,566,132,270▲1.7% | 990 |
| 2023 | $1,386,324,608▲6.6% | $1,285,388,595▲6.2% | $4,878,101,725▲3.0% | $8,419,583,416▲2.2% | 990 |
| 2022 | $1,300,355,257▼5.3% | $1,209,915,305▲8.4% | $4,734,795,716▼1.6% | $8,234,972,587▼0.2% | 990 |
| 2021 | $1,373,422,301▲5.1% | $1,116,554,043▲1.9% | $4,811,203,506▲12.5% | $8,249,270,527▲5.4% | 990 |
| 2020 | $1,306,549,522▼6.3% | $1,095,776,895▼6.9% | $4,277,969,655▲6.9% | $7,829,763,414▲2.6% | 990 |
| 2019 | $1,394,588,110▼1.6% | $1,176,764,127▼4.5% | $4,000,001,737▲12.2% | $7,631,590,732▲6.3% | 990 |
| 2018 | $1,417,228,021▲6.2% | $1,231,815,865▲11.8% | $3,565,685,644▲0.9% | $7,177,542,373▲1.6% | 990 |
| 2017 | $1,334,427,425▲3.1% | $1,102,241,054▲13.1% | $3,533,425,890▲11.7% | $7,061,649,960▲6.4% | 990 |
| 2016 | $1,293,722,109▼3.3% | $974,892,160▼7.1% | $3,164,477,316▲13.8% | $6,633,876,390▲5.0% | 990 |
| 2015 | $1,338,360,568▼8.5% | $1,048,929,806▼8.1% | $2,781,853,737▲8.6% | $6,318,486,031▲5.4% | 990 |
| 2014 | $1,463,065,976▲16.4% | $1,141,818,453▲13.0% | $2,561,015,164▲9.9% | $5,997,451,061▲8.7% | 990 |
| 2013 | $1,256,582,687 | $1,010,754,324▲9.5% | $2,330,482,026▲20.5% | $5,517,176,651▲12.8% | 990 |
| 2012 | — | $923,011,364▲14.0% | $1,934,389,003▲15.3% | $4,890,294,385▲11.7% | 990 |
| 2011 | — | $809,923,772▲19.7% | $1,677,216,556▲4.2% | $4,379,959,985▼7.2% | 990 |
| 2010 | — | $676,657,043 | $1,610,178,770 | $4,720,886,660 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Brenda Ward — $1,548,094 (0.12% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Brenda Ward | President & Ceo | 40 | $1,548,094 |
| Leonard Johnson | Svp Investments | 40 | $894,839 |
| Paul Schlaud | Svp Enterprise Affairs & General Counsel | 40 | $818,606 |
| Willard Potter | Svp & Cfo | 40 | $763,584 |
| Michael Hernandez | Chief Data Officer | 40 | $668,030 |
| Jeannette Sprague | Svp & Chief Information Officer | 40 | $617,050 |
| Kim Haugaard | Svp Policyholder Services | 40 | $601,452 |
| Jeffrey Lentz | Svp Underwriting | 40 | $590,893 |
| Jo Betsy Norton | Svp Public Affairs | 40 | $587,783 |
| Lawrence Martin | Svp Human Resources | 40 | $568,370 |
| Elise Teeter | Svp & General Auditor | 40 | $487,942 |
| Nathan Scott | Vp Investments | 40 | $457,618 |
| Phoebe Murphy | Chief Actuary & Vp of Enterprise Analytics | 40 | $454,180 |
| Shannon Pounds | Vp & Associate General Counsel | 40 | $443,987 |
| Lisa Evans | Vp Distribution & Customer Engagement | 40 | $440,227 |
| Peppia Sherrouse | Vp Claim Operations | 40 | $431,117 |
| Beverly Harris | Vp Corporate Strategy & Product | 40 | $429,062 |
| Anthony Seraphim | Vp Digital Transformation | 40 | $423,453 |
| Richard Dabney | Vp Corporate Underwriting | 40 | $422,478 |
| Erica Sanchez | Vp & Controller | 40 | $422,072 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Occupational Health Centers of | Medical and Healthcare | $16,512,441 |
| Techhealth Inc | Medical and Healthcare | $13,463,253 |
| Memorial Hermann Hospital Heal | Medical and Healthcare | $10,521,195 |
| Align Networks Inc | Medical and Healthcare | $9,130,497 |
| Tmc Provider Group Pllc | Medical and Healthcare | $3,537,358 |
Grants made · $14.8M in FY2024
172 grants totaling $14.8M in FY2024 — showing the 15 largest. All grants made by Texas Mutual Insurance Company →
| Recipient | Purpose | Amount |
|---|---|---|
| Texas 2036 | Generational learning | $600,000 |
| Communities Foundation of Texas | Workforce development & safety training | $500,000 |
| United Way of Greater Houston | Generational learning | $450,000 |
| Texsar Inc | Disaster relief funds | $375,000 |
| The State Firemens and Fire Marshals Association of Texas | Workforce development & safety training | $300,000 |
| United Way For Greater Austin | Generational learning | $250,000 |
| Worksource Greater Austin Area Workforce Board | Workforce development & safety training | $220,000 |
| The Dallas Foundation | Workforce development & safety training | $200,000 |
| The University of Texas Health Science Center At Houston | Generational learning | $150,000 |
| University of Texas Health Science Center At Tyler | Generational learning | $150,000 |
| Ronald Mcdonald House Charities of Central Texas Inc | Generational learning | $150,000 |
| Torch Foundation | Generational learning | $142,000 |
| Asset Funders Network | Generational learning | $125,000 |
| Avance Inc | Generational learning | $125,000 |
| The Aspen Institute Inc | Workforce development & safety training | $101,333 |
Frequently asked questions
- Is Texas Mutual Insurance Company a legitimate nonprofit?
- Yes. Texas Mutual Insurance Company is a 501(c)(27) organization registered with the U.S. Internal Revenue Service under EIN 74-2615873, based in Austin, Texas.
- What is Texas Mutual Insurance Company's EIN?
- Texas Mutual Insurance Company's Employer Identification Number (EIN) is 74-2615873.
- How much revenue does Texas Mutual Insurance Company report?
- Texas Mutual Insurance Company reported $1,532,187,813 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much does Texas Mutual Insurance Company's highest-paid employee make?
- The highest reported compensation on Texas Mutual Insurance Company's latest Form 990 is $1,548,094, paid to Brenda Ward (President & Ceo).
More nonprofits in Austin
Explore more
Data for Texas Mutual Insurance Company (EIN 74-2615873) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.