Texas Mutual Insurance Company

Texas Mutual Insurance Company Overview

Texas Mutual Insurance Company is located in Austin, TX. The organization was established in 2000. 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 12/2019, Texas Mutual Insurance Company employed 1,095 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Texas Mutual Insurance Company 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 12/2019, Texas Mutual Insurance Company generated $1.4b in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $1.2b during the year ending 12/2019. While expenses have increased by 2.3% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Since 2017, Texas Mutual Insurance Company has awarded 1,342 individual grants totaling $13,131,379. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2019

Describe the Organization's Mission:

Part 3 - Line 1

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.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE COMPANY WROTE OVER 79,000 WORKERS' COMPENSATION POLICIES IN 2019 COVERING APPROXIMATELY 1.5 MILLION TEXAS EMPLOYEES. DURING THE YEAR, OVER 51,000 CLAIMS WERE PROCESSED AND APPROXIMATELY $446 MILLION IN MEDICAL AND INCOME BENEFITS WERE PAID OUT TO INJURED WORKERS.


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Texas Mutual Insurance Company Board, Officers & Key Employees

Name (title)Compensation
Richard Gergasko
President & CEO
$996,264
William Mclellan
SVP Information Technology
$548,189
Brenda Ward
Chief Operating Officer
$532,201
Perry Barron
SVP & CFO
$511,359
Leonard Johnson
SVP Investments
$508,453
Mary Nichols
SVP & General Counsel
$499,664

Texas Mutual Insurance Company Vendors

Vendor Name (Service)Compensation
Dell Financial Services Lp
Professional Services
$3,650,289
Amy Wick Marketing Communication
Professional Services
$4,396,355
Rulesware Llc
Professional Services
$3,244,096
Combined Agents Of America
Independent Agency
$3,128,145
Coventry Healthcare Workers Co
Professional Services
$2,824,951
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$1,093,530,380
Investment income $241,181,709
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $336,622
Net Gain/Loss on Asset Sales $58,734,802
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,394,588,110

Texas Mutual Insurance Company Grants Awarded

Over the last fiscal year, Texas Mutual Insurance Company has awarded $2,657,152 in support to 274 organizations.

Grant RecipientAmount

AESCIT CORPORATION

PURPOSE: Tropical Storm Imelda Relief

$10,000

A-1 SHEET METAL & AIR CONDITIONING INC

PURPOSE: Tropical Storm Imelda Relief

$10,000

AGS SOLUTIONS INC

PURPOSE: Tropical Storm Imelda Relief

$10,000

A B LADDER COMPANY INC

PURPOSE: Tropical Storm Imelda Relief

$10,000

AC PARTS & SUPPLY

PURPOSE: Tropical Storm Imelda Relief

$10,000

ADVANCED TRANSPORTATION LLC

PURPOSE: Tropical Storm Imelda Relief

$10,000
View Grant Profile

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