Washington Counties Insurance Fund
- Assets
- $13.5m
- Revenue
- $51.7m
- Investments
- $0.0
- Employees
- 11
- Location
- Tumwater, WA
- Founding
- 02/1965
- Data as of
- 12/2022
- EIN
- 91-6060979
Organization Overview
Washington Counties Insurance Fund is located in Tumwater, WA. The organization was established in 1965. 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 Counties Insurance Fund employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Washington Counties Insurance Fund is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2022, Washington Counties Insurance Fund generated $51.7m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $51.0m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.8%) per year over the past 8 years. 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
PROVIDE INSURANCE BENEFITS FOR WASHINGTON COUNTIES' ELIGIBLE EMPLOYEES
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE INSURANCE BENEFITS FOR WASHINGTON COUNTIES' ELIGIBLE EMPLOYEES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Arne Mortensen Trustee | Trustee | 1 | $0 |
Lexi Wingfield Trustee | Trustee | 1 | $0 |
Gene Strong Chair | OfficerTrustee | 1 | $0 |
Jerome Delvin Trustee | Trustee | 1 | $0 |
Amber Phinney Trustee | Trustee | 1 | $0 |
John Slaughter Trustee | Trustee | 1 | $0 |
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 | $49,603,446 |
| Investment income | $112,220 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $51,700,231 |
| 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. | $330,064 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $408,410 |
| Pension plan accruals and contributions | $1,173 |
| Other employee benefits | $59,158 |
| Payroll taxes | $16,524 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,344 |
| Fees for services: Accounting | $20,717 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $194,000 |
| Advertising and promotion | $33,106 |
| Office expenses | $73,467 |
| Information technology | $17,706 |
| Royalties | $0 |
| Occupancy | $33,419 |
| Travel | $47,363 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $42,993 |
| Interest | $1,503 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $55,193 |
| Insurance | $57,592 |
| All other expenses | $20,489 |
| Total functional expenses | $50,968,343 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,116,808 |
| Savings and temporary cash investments | $5,388,549 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $829,984 |
| 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 | $54,158 |
| Net Land, buildings, and equipment | $735,892 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,332,325 |
| Total assets | $13,457,716 |
| Accounts payable and accrued expenses | $359,203 |
| 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 | $3,587,988 |
| Total liabilities | $3,947,191 |
| 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 | $9,510,525 |
| Total liabilities and net assets/fund balances | $13,457,716 |