Workers Compensation Research Institute
- Assets
- $14.2m
- Revenue
- $7.7m
- Investments
- $0.0
- Employees
- 29
- Location
- Cambridge, MA
- Founding
- 06/1986
- Data as of
- 06/2023
- 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 06/2023, 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 06/2023, Workers Compensation Research Institute generated $7.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $8.5m during the year ending 06/2023. While expenses have increased by 0.2% per year over the past 8 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
2023
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 |
|---|---|---|---|
Paul Kearney Director | Trustee | 0 | $0 |
Russell J Pass Director | Trustee | 0 | $0 |
Steve Perroots Director | Trustee | 0 | $0 |
Denise Zoe Algire Director | Trustee | 0 | $0 |
Debra Kane Director | Trustee | 0 | $0 |
Ira Feuerlicht Director | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Milliman Usa Data Processing | 6/29/23 | $450,358 |
Technical Automation Computer Consultant | 6/29/23 | $448,855 |
Davies & Monahan Pc Accountant | 6/29/23 | $107,234 |
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 | $7,302,796 |
| Investment income | $407,888 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,144 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,708,540 |
| 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. | $1,322,926 |
| Compensation of current officers, directors, key employees. | $238,055 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,361,480 |
| Pension plan accruals and contributions | $263,922 |
| Other employee benefits | $402,482 |
| Payroll taxes | $284,209 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,527 |
| Fees for services: Accounting | $187,093 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $79,736 |
| Fees for services: Other | $330,711 |
| Advertising and promotion | $0 |
| Office expenses | $21,779 |
| Information technology | $808,292 |
| Royalties | $0 |
| Occupancy | $677,475 |
| Travel | $101,148 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $195,809 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $231,037 |
| Insurance | $99,578 |
| All other expenses | $0 |
| Total functional expenses | $8,499,598 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $843,695 |
| Savings and temporary cash investments | $133,073 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $163,013 |
| 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 | $216,287 |
| Net Land, buildings, and equipment | $625,705 |
| Investments—publicly traded securities | $12,197,263 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $46,680 |
| Total assets | $14,225,716 |
| Accounts payable and accrued expenses | $750,907 |
| Grants payable | $0 |
| Deferred revenue | $2,093,565 |
| 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 | $2,844,472 |
| Net assets without donor restrictions | $11,381,244 |
| 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 | $14,225,716 |