Workers Compensation Research Institute
- Assets
- $14.7m
- Revenue
- $8.1m
- Investments
- $0.0
- Employees
- 29
- Location
- Cambridge, MA
- Founding
- 06/1986
- Data as of
- 06/2022
- EIN
- 36-3264285
Organization Overview
Workers Compensation Research Institute is located in Cambridge, MA. The organization was established in 1986. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 06/2022, Workers Compensation Research Institute employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Workers Compensation Research Institute 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, Workers Compensation Research Institute generated $8.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $8.2m during the year ending 06/2022. 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
THE PRIMARY EXEMPT PURPOSE OF THE ORGANIZATION IS TO PERFORM INDEPENDENT RESEARCH AND CONDUCT OBJECTIVE STUDIES AND ANALYSES TO PROVIDE OBJECTIVE, CREDIBLE, HIGH-QUALITY RESEARCH AND INFORMATION ON PUBLIC POLICY ISSUES INVOLVING WORKERS' COMPENSATION SYSTEMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INSTITUTE WAS ESTABLISHED TO GATHER, ANALYZE, AND DISSEMINATE RELIABLE INFORMATION TO LEGISLATORS, ADMINISTRATORS, TASK FORCES, AND INDUSTRY GROUPS INTERESTED IN IMPROVING WORKERS' COMPENSATION SYSTEMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr John Ruser President And CEO | Officer | 40 | $501,190 |
Ramona Tanabe Executive Vice President A | Officer | 40 | $395,366 |
Andrew Kenneally Communications Director | 40 | $181,074 | |
Olyesa Fomenko Economist | 40 | $168,727 | |
Rui Yang Senior Public Polic Analyst | 40 | $166,859 | |
Eric Harrision Data Development Director | 40 | $166,169 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Milliman Usa Data Processing | 6/29/22 | $450,000 |
Davies & Monahan Pc Accountant | 6/29/22 | $116,494 |
Technical Automation Computer Consultant | 6/29/22 | $711,610 |
Russell Reynolds Associates Inc Recruiter | 6/29/22 | $104,800 |
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 | $7,455,285 |
| Investment income | $405,899 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $288,289 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,149,473 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $1,005,083 |
| Compensation of current officers, directors, key employees. | $160,813 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,411,761 |
| Pension plan accruals and contributions | $251,354 |
| Other employee benefits | $401,362 |
| Payroll taxes | $280,165 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,268 |
| Fees for services: Accounting | $192,017 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $79,512 |
| Fees for services: Other | $347,360 |
| Advertising and promotion | $0 |
| Office expenses | $14,283 |
| Information technology | $966,611 |
| Royalties | $0 |
| Occupancy | $709,280 |
| Travel | $25,046 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $107,214 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $181,774 |
| Insurance | $87,613 |
| All other expenses | $0 |
| Total functional expenses | $8,226,464 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,531,157 |
| Savings and temporary cash investments | $151,544 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $215,514 |
| 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 | $218,438 |
| Net Land, buildings, and equipment | $691,943 |
| Investments—publicly traded securities | $11,872,261 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $46,680 |
| Total assets | $14,727,537 |
| Accounts payable and accrued expenses | $934,536 |
| Grants payable | $0 |
| Deferred revenue | $2,107,345 |
| 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 | $3,041,881 |
| Net assets without donor restrictions | $11,685,656 |
| 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 | $14,727,537 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Centers For Care Health Plan Bronx, NY | $49,972,187 | $33,212,808 |
Lufthansa German Airlines Long Term Disability Benefits Pl Tr Uniondale, NY | $2,508,054 | $15,798,770 |
Welfare Fund Heat And Frost Insulators Local 12 Long Island City, NY | $34,847,538 | $18,361,265 |
First Medical Insurance Compant A Risk Retention Group Colchester, VT | $102,134,145 | $15,354,853 |
Centers For Care Health Plan co Bronx Funding LLC Bronx, NY | $25,788,041 | $17,894,242 |
Rvc Insurance Company Inc Rockville Centre, NY | $295,933,062 | $29,353,576 |
Workers Compensation Rating & Inspection Bureau Of Massachusetts Boston, MA | $5,354,102 | $14,107,394 |
Granite Group Insurance Trust Barre, VT | $1,580,238 | $11,150,658 |
Bakers Union Local 453 Welfare Fund Mount Kisco, NY | $6,346,834 | $11,690,505 |
Insurance Fraud Bureau Of Massachusetts Boston, MA | $5,432,137 | $11,153,060 |
New Hampshire Bankers Association Insurance Trust Concord, NH | $1,655,893 | $8,712,913 |
Massachusetts Insurers Insolvency Fund Boston, MA | $220,667,916 | $27,762,839 |