International Workers Compensation Foundation Inc
- Assets
- $4.0m
- Revenue
- $897.4k
- Investments
- $0.0
- Employees
- 2
- Location
- Ormond Beach, FL
- Founding
- 08/1989
- Data as of
- 06/2022
- EIN
- 35-1737364
Organization Overview
International Workers Compensation Foundation Inc is located in Ormond Beach, FL. The organization was established in 1989. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. As of 06/2022, International Workers Compensation Foundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International Workers Compensation Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, International Workers Compensation Foundation Inc generated $897.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.2%) each year. All expenses for the organization totaled $1.3m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (2.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CONTINUING PROFESSIONAL EDUCATION THE FOUNDATION SPONSORS WORKERS' COMPENSATION EDUCATIONAL CONFERENCES AND PROMOTES DIALOGUE AMONG, AND OUTREACH TO, PARTICIPANTS IN THE WORKERS' COMPENSATION COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION DEVELOPS AND DISTRIBUTES EDUCATIONAL MATERIALS, SPONSORS CONTINUING EDUCATION SEMINARS PROVIDING EDUCATIONAL CREDIT HOURS TO THE ATTENDEES. DURING THIS FISCAL YEAR THERE WERE 1,699 ATTENDEES AT THE VARIOUS VIRTUAL CONFERENCES AND WORKSHOPS.
IAIABC WORKCOMPARE PROJECT-2021 FUNDING IN SUPPORT OF A REAL-TIME, ON-LINE COMPARATIVE DATABASE FOR THE STATES WORKER'S COMPENSATION AGENCIES COVERING TOPICS SUCH AS AGENCY ORGANIZATION, WHO IS AN EMPLOYEE, MEDICAL MARIJUANA, AND TREATMENT GUIDE-LINES. ADDITIONAL PROGRAM AREAS WILL BE ADDED IN THE FUTURE.
KIDS' CHANCE, INC. OF TENNESSEE, A 501(C)(3) ENTITY. THIS DONATION GOES TOWARDS FUNDING SCHOLARSHIPS FOR CHILDREN OF WORKERS WHO HAVE LOST THEIR LIVES OR BECAME PERMANENTLY DISABLED BY A JOB RELATED INJURY OR ILLNESS THAT IS COVERED BY WORKERS, COMPENSATION LAWS.
NORTH CAROLINA INDUSTRIAL COMMISSION CLE GRANT. GRANT FUNDS ARE USED TO OFFSET COSTS ASSOCIATED WITH NORTH CAROLINA INDUSTRIAL COMMISSION EMPLOYEES ATTENDING THE NORTH CAROLINA EDUCATIONAL CONFERENCE AND RECEIVING CLE CREDIT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric J Oxfeld Secretary/treasurer | OfficerTrustee | 40 | $191,020 |
Bruce Q Morin President | OfficerTrustee | 1 | $0 |
Christine Baker Trustee | Trustee | 0.5 | $0 |
Bruce C Wood Trustee | Trustee | 0.5 | $0 |
Allyn C Tatum Trustee | Trustee | 0.5 | $0 |
Sean Mcnally Trustee | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $859,915 |
| Investment income | $37,503 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $897,418 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $32,979 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $191,020 |
| Compensation of current officers, directors, key employees. | $191,020 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $60,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,531 |
| Payroll taxes | $16,213 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,391 |
| Fees for services: Accounting | $7,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $15,030 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,621 |
| Travel | $709,403 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $188,097 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $109 |
| Insurance | $46,479 |
| All other expenses | $18,361 |
| Total functional expenses | $1,309,234 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $239,771 |
| Savings and temporary cash investments | $3,678,609 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,766 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $59,955 |
| Net Land, buildings, and equipment | $52 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,251 |
| Total assets | $3,988,404 |
| Accounts payable and accrued expenses | $432,894 |
| Grants payable | $0 |
| Deferred revenue | $9,975 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $442,869 |
| Net assets without donor restrictions | $3,545,535 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,988,404 |
Grants Awarded
Over the last fiscal year, International Workers Compensation Foundation Inc has awarded $85,575 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CAL DIVWORKERS'COMP PURPOSE: CONTINUED SUPPORT | $53,575 |
Middleton, WI PURPOSE: SUPPORT RESEARCH PROJECT | $20,000 |
NORTH CAROLINA INDUSTRIAL COMMISSION PURPOSE: SUPPORT RESEARCH PROJECT | $12,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that International Workers Compensation Foundation Inc has recieved totaling $1,000.
| Awarding Organization | Amount |
|---|---|
Bayou Research Institute Baton Rouge, LA PURPOSE: TO PROVIDE SUPPORT FOR OPERATIONS AND FOR SEMINARS, WHICH ARE DESIGNED TO EDUCATE THOSE WHO PARTICIPATE IN STATE WORKERS' COMPENSATION SYSTEMS REGARDING RULES, PROCEDURES, POLICIES AND FORMS | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southern States Police Benevolent Association Inc Mcdonough, GA | $14,043,615 | $16,142,933 |
International Longshoremens Assn S Fl Ila Container Royalty Fund Miami, FL | $14,989,550 | $15,311,387 |
Seafarers International Union Of North American Dania Beach, FL | $23,905,405 | $12,764,369 |
Alabama Farmers Federation Inc Montgomery, AL | $51,185,897 | $13,567,426 |
Florida Police Benevolent Association Inc Tallahassee, FL | $14,595,593 | $11,620,647 |
United Teachers Of Dade Miami Springs, FL | $14,323,353 | $11,858,827 |
International Brotherhood Of Teamsters Atlanta, GA | $23,489,965 | $15,555,730 |
United Food And Commercial Workers International Union Suwanee, GA | $6,071,667 | $10,158,607 |
American Federation Of Teachers Tamarac, FL | $9,473,418 | $9,327,723 |
Georgia Poultry Improvement Association Incorporated Gainesville, GA | $416,382 | $8,139,653 |
Southeastern Carpenters Regional Council Augusta, GA | $21,290,027 | $10,060,840 |
International Longshoremens Association Savannah, GA | $24,720,691 | $10,565,303 |