Minnesota Workers Compensation Insurers Association Inc

Organization Overview

Minnesota Workers Compensation Insurers Association Inc is located in Minneapolis, MN. The organization was established in 1985. According to its NTEE Classification (Y03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2023, Minnesota Workers Compensation Insurers Association Inc employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnesota Workers Compensation Insurers Association Inc 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 12/2023, Minnesota Workers Compensation Insurers Association Inc generated $8.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $7.8m during the year ending 12/2023. While expenses have increased by 0.9% per year over the past 9 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE TO ITS MEMBERS SERVICES AND INFORMATION REQUIRED UNDER PROVISIONS OF MN STATUTES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDE SERVICES TO INSURANCE COMPANIES LICENSED TO WRITE WORKERS' COMPENSATION INSURANCE IN MINNESOTA TO ENABLE THEM TO COMPLY WITH STATUTORY REQUIREMENTS.


COVER CLAIMS FOR INSURANCE COMPANIES THAT WENT INSOLVENT PRIOR TO 1983.


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Board, Officers & Key Employees

Name (title)Compensation
Ira Feuerlicht
Board Member
$0
Paul Larson
Board Member
$0
Karen Bethea
Board Member
$0
Diana Trent
Board Member
$0
Gary Thaden
Board Member
$0
Amanda Aponte
Board Member
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Spectrum Partners Llc
Database Support
$575,000
Stinson Leonard Street Llp
Legal
$165,000
Slalom Consulting
Software Development
$157,550
Sound Actuarial Consulting
Actuarial Consulting
$118,193
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$8,079,582
Investment income $142,648
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $24,223
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $8,246,453

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