Washington Surveying & Rating Bureau
- Assets
- $7.9m
- Revenue
- $11.0m
- Investments
- $20.0k
- Employees
- 61
- Location
- Renton, WA
- Founding
- 10/2002
- Data as of
- 12/2022
- EIN
- 74-3049163
Organization Overview
Washington Surveying & Rating Bureau is located in Renton, WA. The organization was established in 2002. 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 12/2022, Washington Surveying & Rating Bureau employed 61 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Washington Surveying & 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 12/2022, Washington Surveying & Rating Bureau generated $11.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $10.8m during the year ending 12/2022. While expenses have increased by 5.6% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FILING, LOSS COSTS, AND UNDERWRITING SERVICES TO SUBSCRIBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WASHINGTON SURVEYING & RATING BUREAU IS AN INDEPENDENT, AUTHORITATIVE RESOURCE FOR PROPERTY UNDERWRITING AND LOSS COST INFORMATION FOR THE INSURANCE INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karl Newman President, CEO & Director | OfficerTrustee | 40 | $372,605 |
Bryan Stanwood VP & Chief Experience Officer | Officer | 40 | $271,493 |
Cori Medrano VP & COO | Officer | 40 | $272,174 |
Barbara Jo Hillyer VP & CFO | Officer | 35 | $281,068 |
James Antush Vp, Compliance & Actuarial Services | Officer | 16 | $0 |
Robert Ferrell VP Public Protection & Operations | Officer | 40 | $155,601 |
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 | $10,761,352 |
| Investment income | $73,796 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$18,654 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,984,995 |
| 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. | $2,143,659 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,458,375 |
| Pension plan accruals and contributions | $230,942 |
| Other employee benefits | $602,325 |
| Payroll taxes | $475,706 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,582 |
| Fees for services: Accounting | $22,004 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $393,968 |
| Advertising and promotion | $929 |
| Office expenses | $130,388 |
| Information technology | $448,665 |
| Royalties | $0 |
| Occupancy | $105,705 |
| Travel | $211,864 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $47,097 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $41,204 |
| Total functional expenses | $10,793,584 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,134,127 |
| Savings and temporary cash investments | $3,196,284 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,552,093 |
| Investments—other securities | $20,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,902,504 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $7,902,504 |
| Total liabilities and net assets/fund balances | $7,902,504 |