Workers Compensation Reinsurance Association
501(c)(27)
Declining revenue
Workers Compensation Reinsurance Association is a 501(c)(27) organization based in Saint Paul, Minnesota, registered in 1997, with $260,552,944 in FY2024 revenue.
400 Robert St N Ste 1700, Saint Paul, MN, 55101 EIN 41-1357750 Since 1997
Revenue (FY2024)
$260.6M
▲ 38.4% vs prior year
Expenses (FY2024)
-$6.5M
Net assets
$2.3B
Employees
34
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 Workers Compensation Reinsurance Association— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
—Financial health25% of the ratingNo headline financials
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. Not scored for Workers Compensation Reinsurance Association— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). 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 Workers Compensation Reinsurance Association: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
BTransparency10% of the rating3 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 Workers Compensation Reinsurance Association: 3 of 5 disclosure signals earns a B on this criterion. See the exact thresholds →
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Mission
Indemnify serious workers' compensation claims
Contact & location
- Address
- 400 Robert St N Ste 1700, Saint Paul, MN, 55101
- City
- Saint Paul
- State
- Minnesota
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from -$24.9M (FY2013) to $260.6M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $1.5BNet assets $2.3B
Operating margin
102.5%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$3.8B
Total liabilities
$1.5B
Net assets
$2.3B
Salaries & benefits
$5.1M
Board members
13
13 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $260,552,944▲38.4% | -$6,535,237▼113% | $2,250,106,273▲20.9% | $3,753,979,130▲7.7% | 990 |
| 2023 | $188,204,787▼41.4% | $49,160,664▼8.8% | $1,860,771,040▲28.3% | $3,484,949,959▲16.2% | 990 |
| 2022 | $321,335,040▼15.2% | $53,879,972▲3.5% | $1,450,335,060▼22.6% | $2,999,849,537▼27.3% | 990 |
| 2021 | $379,015,449▲35.6% | $52,075,229▲430% | $1,874,551,135▼2.1% | $4,127,132,929▲15.2% | 990 |
| 2020 | $279,534,324▲49.6% | $9,821,063▼84.3% | $1,914,918,749▲36.2% | $3,581,217,851▲14.4% | 990 |
| 2019 | $186,807,436▲36.6% | $62,690,152▼2.3% | $1,406,295,942▲55.5% | $3,131,801,764▲18.1% | 990 |
| 2018 | $136,794,780▼17.5% | $64,154,099▼16.5% | $904,325,162▼12.7% | $2,652,078,476▼5.9% | 990 |
| 2017 | $165,902,168▲3.6% | $76,847,219▲3185% | $1,035,378,642▲53.7% | $2,817,868,050▲4.9% | 990 |
| 2016 | $160,191,798▲11.4% | $2,339,447▼95.6% | $673,796,476▲48.8% | $2,686,662,919▲13.7% | 990 |
| 2015 | $143,769,554▲7.0% | $52,983,837▲2.6% | $452,776,642▲4.8% | $2,363,019,737▼1.7% | 990 |
| 2014 | $134,374,590▲640% | $51,642,229▼34.8% | $431,904,495▲54.1% | $2,404,396,711▲6.5% | 990 |
| 2013 | -$24,863,801 | $79,212,027▼53.8% | $280,329,397▲83.6% | $2,256,812,046▲5.8% | 990 |
| 2012 | — | $171,428,924 | $152,660,485 | $2,133,224,593 | 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)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| James Heer | President & Ceo | 50 | $378,016 |
| Alison Khan | Vp & Actuary | 40 | $263,198 |
| Cynthia Smith | Vp of Operations/corp Secretry | 60 | $251,451 |
| Dave Mckee | Vp & Cfo Treasurer | 45 | $215,014 |
| Tony Tio | Actuary | 40 | $209,930 |
| Daniel Lovhaug | Vp It & Security Officer | 50 | $189,291 |
| Natalie Haefner | Vp of Claims and Injury Mgmt | 50 | $171,639 |
| Evan Cordes | Legal Counsel As of 2/24 | 40 | $169,827 |
| Sean Nagel | Enterprise Architect | 40 | $168,387 |
| Ray Mularie | Business Sys Analyst V | 40 | $131,921 |
| Peter Foley | Membership Audit Supervisor | 40 | $125,401 |
| Kenneth Peterson | Director | 2 | $14,250 |
| James Oukrop | Director | 2 | $12,500 |
| William Mccarthy | Director | 2 | $11,500 |
| Terrence Miller | Director | 2 | $9,850 |
| Richard Long | Director | 2 | $9,750 |
| Sheila Brown | Director | 2 | $9,700 |
| Allison Waggoner | Director | 2 | $9,500 |
| Daniel Greensweig | Director | 2 | $9,500 |
| Samuel Nolley | Director | 2 | $7,500 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Jp Morgan Institutional Investments | Portfolio Management | $2,074,606 |
| Outsystems Inc | Custom Software | $1,408,038 |
| Blackrock Financial | Portfolio Management | $912,710 |
| Pimco | Portfolio Management | $904,402 |
| Northern Trust | Ptfl Mgmt & Cust Fee | $537,497 |
Frequently asked questions
- Is Workers Compensation Reinsurance Association a legitimate nonprofit?
- Yes. Workers Compensation Reinsurance Association is a 501(c)(27) organization registered with the U.S. Internal Revenue Service under EIN 41-1357750, based in Saint Paul, Minnesota.
- What is Workers Compensation Reinsurance Association's EIN?
- Workers Compensation Reinsurance Association's Employer Identification Number (EIN) is 41-1357750.
- How much revenue does Workers Compensation Reinsurance Association report?
- Workers Compensation Reinsurance Association reported $260,552,944 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much does Workers Compensation Reinsurance Association's highest-paid employee make?
- The highest reported compensation on Workers Compensation Reinsurance Association's latest Form 990 is $378,016, paid to James Heer (President & Ceo).
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Data for Workers Compensation Reinsurance Association (EIN 41-1357750) 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.