Pennsylvania Compensation Rating Bureau
- Assets
- $10.4m
- Revenue
- $13.5m
- Investments
- $40.0k
- Employees
- 116
- Location
- Philadelphia, PA
- Founding
- 01/1991
- Data as of
- 12/2021
- EIN
- 23-0958260
Organization Overview
Pennsylvania Compensation Rating Bureau is located in Philadelphia, PA. The organization was established in 1991. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Pennsylvania Compensation Rating Bureau employed 116 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pennsylvania Compensation Rating Bureau is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Pennsylvania Compensation Rating Bureau generated $13.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $12.6m during the year ending 12/2021. While expenses have increased by 2.6% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PENNSYLVANIA COMPENSATION RATING BUREAU (PCRB) IS THE LICENSED RATING ORGANIZATION FOR THE PROMULGATION AND DETERMINATION OF WORKERS' COMPENSATION INSURANCE RATING VALUES AND CLASSIFICATION SYSTEM USED BY INSURERS, AGENTS, AND EMPLOYERS IN THE COMMONWEALTH OF PENNSYLVANIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COLLECTING, EDITING, AND MAINTAINING WORKERS' COMPENSATION EXPERIENCE DATA FOR NON-COAL MINE COMMERCIAL MARKETS IN PENNSYLVANIA.
PROMULGATION, APPLICATION AND ENFORCEMENT OF RISK CLASSIFICATIONS, UNDERWRITING RULES, RATING VALUES AND RATING PLANS APPLICABLE TO WORKERS' COMPENSATION INSURANCE WRITTEN IN PENNSYLVANIA.
PREPARATION, SUBMISSION AND DEFENSE OF REGULATORY FILINGS TO AMEND AND/OR MAINTAIN RISK CLASSIFICATIONS, UNDERWRITING RULES, RATING VALUES AND RATING PLANS APPLICABLE TO WORKERS' COMPENSATION INSURANCE WRITTEN IN PENNSYLVANIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brent Otto VP Actuarial | Officer | 30 | $446,493 |
William V Taylor President | Officer | 30 | $298,873 |
Bonita Piacentino Sr. Vice Pre | Officer | 30 | $271,438 |
John E Panczner VP And Treas | Officer | 30 | $208,815 |
Kenneth Creighton Chief Actuar | Officer | 30 | $198,728 |
Alexander Pagan Cio | Officer | 30 | $186,798 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
30 S 17th Street Property Owner Llc Rent | 12/30/21 | $734,995 |
Windmill Software Software Dev. | 12/30/21 | $640,975 |
Z Consulting Software Dev. | 12/30/21 | $250,000 |
Mainline Information Technology | 12/30/21 | $154,122 |
Farragut Software Dev. | 12/30/21 | $246,116 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $13,439,978 |
| 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 | $13,439,978 |
| Total Program Service Revenue | $0 |
| Investment income | $13,817 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$35,995 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,500,527 |
| 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. | $3,802,928 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,418,891 |
| Pension plan accruals and contributions | $1,865,916 |
| Other employee benefits | $1,518,494 |
| Payroll taxes | $697,622 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $142,595 |
| Fees for services: Accounting | $63,535 |
| 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 | $89,664 |
| Information technology | $965,920 |
| Royalties | $0 |
| Occupancy | $601,453 |
| Travel | $107,523 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $190,087 |
| Insurance | $75,759 |
| All other expenses | -$3,300,982 |
| Total functional expenses | $12,637,591 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $396,513 |
| Savings and temporary cash investments | $249,418 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $786,701 |
| 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 | $505,411 |
| Net Land, buildings, and equipment | $5,732,415 |
| Investments—publicly traded securities | $2,335,448 |
| Investments—other securities | $40,027 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $399,032 |
| Total assets | $10,444,965 |
| Accounts payable and accrued expenses | $1,070,872 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $9,334,375 |
| Total liabilities | $10,405,247 |
| Net assets without donor restrictions | $39,718 |
| 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 | $10,444,965 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Securities Industry And Financial Markets Association Inc New York, NY | $42,827,387 | $47,657,181 |
34th Street Partnership Inc New York, NY | $17,652,180 | $14,359,330 |
Grand Central Partnership Inc New York, NY | $10,906,247 | $13,880,529 |
Pennsylvania Compensation Rating Bureau Philadelphia, PA | $10,444,965 | $13,500,527 |
Greenpoint Manufacturing And Design Center Local Development Corp Gmdc Brooklyn, NY | $54,916,417 | $14,539,539 |
Can Do Inc Hazleton, PA | $88,120,031 | $19,938,198 |
York County Economic Alliance York, PA | $4,435,375 | $9,671,986 |
Ascendus Inc New York, NY | $45,777,812 | $14,588,685 |
Bridgeway Capital Inc Pittsburgh, PA | $100,800,088 | $11,446,748 |
Altoona-Blair County Development Corporation Altoona, PA | $122,969,142 | $33,416,279 |
Greater Wilkes-Barre Industrial Fund Inc Wilkesbarre, PA | $1,685,287 | $7,409,722 |
Broad Hollow Bioscience Park Inc Farmingdale, NY | $30,625,721 | $3,689,454 |