Workers Compensation Reinsurance Association

Organization Overview

Workers Compensation Reinsurance Association is located in St Paul, MN. The organization was established in 1997. 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 12/2021, Workers Compensation Reinsurance Association employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Workers Compensation Reinsurance Association is a 501(c)(27) and as such, is described as a "State-Sponsored Workers' Compensation Reinsurance Organization" by the IRS.

For the year ending 12/2021, Workers Compensation Reinsurance Association generated $379.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.9% each year . All expenses for the organization totaled $52.1m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

INDEMNIFY SERIOUS WORKERS' COMPENSATION CLAIMS

Describe the Organization's Program Activity:

Part 3 - Line 4a

IN 2021, THE WCRA REIMBURSED 3,087 CLAIM REQUESTS AND PAID $65,541,620 FOR THESE CLAIMS. RESERVES FOR LOSSES AND LOSS EXPENSES DECREASED BY $27,283,212. OVERHEAD EXPENSES ALLOCATED TO LOSS EXPENSES TOTALED $1,810,591.


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Board, Officers & Key Employees

Name (title)Compensation
James Heer
President & CEO
$322,567
Lynn Carroll
VP & Actuary
$273,338
Cynthia Smith
VP Of Operations/corp Secretry
$221,313
Tony Tio
Actuary
$197,256
Dave Mckee
VP & Cfo/treasurer
$181,739
Natalie Haefner
VP Of Claims And Injury Mgmt
$155,514

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Jp Morgan Institutional Investments
Portfolio Management
$2,390,166
Pimco
Portfolio Management
$1,197,089
Blackrock Financial
Portfolio Management
$780,698
Peregrine
Portfolio Management
$720,077
Rsm Us Llp
App Development Spt
$814,097
View All Vendors

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$46,724,608
Investment income $52,543,050
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $279,747,791
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $379,015,449

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