Civic Intelligence

Wcribma - Veba

990 • Fiscal year 2011 • EIN 75-6752444

Jan 01, 2011 to Dec 31, 2011 • Filed on Aug 14, 2012

101 Arch Street 5th Floor02110-1130
Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

34th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2011 filings • 501(c)9 • $1M-$5M nonprofits • Source year 2011

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2011

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2011

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2011

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2011

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Assets

$2,013,807

No earlier filing loaded for comparison.

Net Assets

$2,013,807

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue

-

No earlier filing loaded for comparison.

Expenses

$0

No earlier filing loaded for comparison.

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$10M$5.0M$0Assets 2011: $2,013,807Liabilities 2011: $0Net Assets 2011: $2,013,8072011Assets 2012: $2,237,031Liabilities 2012: $0Net Assets 2012: $2,237,0312012Assets 2013: $2,569,083Liabilities 2013: $0Net Assets 2013: $2,569,0832013Assets 2014: $2,754,075Liabilities 2014: $0Net Assets 2014: $2,754,0752014Assets 2015: $2,752,833Liabilities 2015: $0Net Assets 2015: $2,752,8332015Assets 2016: $2,932,560Liabilities 2016: $0Net Assets 2016: $2,932,5602016Assets 2017: $4,823,032Liabilities 2017: $0Net Assets 2017: $4,823,0322017Assets 2018: $5,905,747Liabilities 2018: $0Net Assets 2018: $5,905,7472018Assets 2019: $6,897,972Liabilities 2019: $0Net Assets 2019: $6,897,9722019Assets 2020: $7,588,963Liabilities 2020: $0Net Assets 2020: $7,588,9632020Assets 2021: $8,284,874Liabilities 2021: $0Net Assets 2021: $8,284,8742021Assets 2022: $6,827,463Liabilities 2022: $0Net Assets 2022: $6,827,4632022Assets 2023: $7,632,637Liabilities 2023: $0Net Assets 2023: $7,632,6372023Assets 2024: $8,212,278Liabilities 2024: $0Net Assets 2024: $8,212,2782024

Highlighted filing

2011

Assets$2,013,807
Liabilities$0
Net Assets$2,013,807

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0-$100KExpenses 2011: $02011Expenses 2012: $02012Revenue 2013: $57,612Expenses 2013: $0Net Income 2013: $57,6122013Revenue 2014: $67,559Expenses 2014: $0Net Income 2014: $67,5592014Revenue 2015: $65,006Expenses 2015: $0Net Income 2015: $65,0062015Revenue 2016: $67,889Expenses 2016: $0Net Income 2016: $67,8892016Revenue 2017: $90,461Expenses 2017: $0Net Income 2017: $90,4612017Revenue 2018: $146,323Expenses 2018: $0Net Income 2018: $146,3232018Revenue 2019: $163,593Expenses 2019: $158,072Net Income 2019: $5,5212019Revenue 2020: $147,867Expenses 2020: $167,965Net Income 2020: -$20,0982020Revenue 2021: $152,368Expenses 2021: $172,342Net Income 2021: -$19,9742021Revenue 2022: $157,811Expenses 2022: $178,749Net Income 2022: -$20,9382022Revenue 2023: $183,269Expenses 2023: $181,622Net Income 2023: $1,6472023Revenue 2024: $209,745Expenses 2024: $202,268Net Income 2024: $7,4772024

Highlighted filing

2011

Revenue-
Expenses$0
Net Income-
Jump To
Filing Snapshot
Filing Period
Jan 1, 2011 to Dec 31, 2011
Signed
Aug 14, 2012
Return Version
2011v1.2
Gross Receipts
$1,847,683
Mission and Program Overview

Mission

**see schedule o**the organization is described in irc section 501(c)(9) as a voluntary employees' beneficiary association that receives and holds in trust amounts contributed by the employer at its discretion, or by covered individuals in the plan to fund its obligation to provide medical benefits. On december 31, 2004, the trust account for the organization was established by its related tax exempt organization, the workers' compensation rating and inspection bureau of massachusetts (the wcribma).

Filing and Contact Details

Filer

EIN
75-6752444
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IRS990ScheduleJ/Form990ScheduleJPartIII/Explanation0The ADMINISTRATORS and key employees of the organization's related tax exempt organization, the Workers' Compensation Rating and Inspection Bureau of Massachusetts (Bureau), perform administrative and investment management functions for the organization. THE ASSOCIATION DOES NOT COMPENSATE ANY ADMINISTRATORS OR KEY EMPLOYEES WHO PROVIDE THESE SERVICES. The Bureau establishes compensation using independent compensation consultants in addition to obtaining approval by its Governing Committee or Budget/Personnel Overview Committee AND GOVERNING COMMITTEE
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IRS990ScheduleO/GeneralExplanation/Explanation0THE ORGANIZATION IS DESCRIBED IN IRC SECTION 501(C)(9) AS A VOLUNTARY EMPLOYEES' BENEFICIARY ASSOCIATION THAT RECEIVES AND HOLDS IN TRUST AMOUNTS CONTRIBUTED BY EMPLOYERS AND COVERED INDIVIDUALS TO FUND ITS OBLIGATION TO PROVIDE RETIREE MEDICAL AND LIFE INSURANCE BENEFITS. ON DECEMBER 23, 2004, THE TRUST ACCOUNT FOR THE ORGANIZATION WAS ESTABLISHED BY ITS RELATED TAX EXEMPT ORGANIZATION, THE WORKERS' COMPENSATION RATING AND INSPECTION BUREAU OF MASSACHUSETTS (BUREAU).
IRS990ScheduleO/GeneralExplanation/Explanation1THE WORKERS' COMPENSATION RATING AND INSPECTION BUREAU OF MASSACHUSETTS (BUREAU) IS A TAX-EXEMPT ENTITY UNDER IRC SECTION 501(C) (6). ON DECEMBER 23, 2004, THE BUREAU FORMED WORKERS' COMPENSATION RATING AND INSPECTION BUREAU OF MASSACHUSETTS VEBA, WHICH LATER BECAME KNOWN AS WCRIBMA - VEBA. THE "MEMBERS" OF THE BUREAU ARE THE INSURANCE COMPANIES LICENSED TO WRITE WORKERS' COMPENSATION INSURANCE IN MASSACHUSETTS. EACH YEAR, AT THE BUREAU'S ANNUAL MEETING, THE MEMBERS ELECT NINE (9) MEMBERS OF THE BUREAU TO SERVE ON THE GOVERNING COMMITTEE. THOSE ELECTED MEMBERS THEN APPOINT THREE (3) NON-MEMBER REPRESENTATIVES TO SERVE ON THE GOVERNING COMMITTEE. THE BUREAU MAINTAINS RECORDS OF GOVERNING COMMITTEE MEETINGS, AND AT EACH ANNUAL MEETING THE MEMBERS OF THE BUREAU RATIFIES, CONFIRMS, AND APPROVES ALL ACTS OF THE GOVERNING COMMITTEE.
IRS990ScheduleO/GeneralExplanation/Explanation2MEMBERS OF THE TAX FIRM (CURRENTLY KPMG LLP) INITIALLY DISCUSS, PREPARE AND REVIEW THE RETURN WITH STAFF OF THE ORGANIZATION'S RELATED TAX EXEMPT ORGANIZATION, THE WORKERS' COMPENSATION RATING AND INSPECTION BUREAU OF MASSACHUSETTS (BUREAU). ONCE THE TAX RETURN IS FULLY ANALYZED AND REVIEWED BY THE BUREAU STAFF, A PAPER COPY IS DISTRIBUTED TO THE MEMBERS OF THE BUREAU'S BUDGET/PERSONNEL OVERVIEW COMMITTEE IN ADVANCE OF A SPECIFIED MEETING. SUBSEQUENTLY, KPMG'S TAX GROUP REPRESENTATIVES MEET WITH THE STAFF AND MEMBERS OF THE BUDGET/PERSONNEL OVERVIEW COMMITTEE IN ORDER TO ENSURE ALL PERSONS HAVE HAD AN OPPORTUNITY TO ASK QUESTIONS AND DISCUSS THE CONTENT OF THE TAX RETURN, PRIOR TO THE DEADLINE. AFTER THE BUDGET/PERSONNEL OVERVIEW COMMITTEE MEMBERS COMPLETE THEIR REVIEW AND APPROVAL OF THE FORM, IT IS SENT TO THE ENTIRE GOVERNING COMMITTEE OF THE BUREAU FOR THEIR REVIEW AND COMMENT PRIOR TO THE FILING OF THE FORM.
IRS990ScheduleO/GeneralExplanation/Explanation3THE ORGANIZATION IS INTEGRALLY RELATED TO THE TAX EXEMPT WORKERS' COMPENSATION RATING AND INSPECTION BUREAU OF MASSACHUSETTS (BUREAU) AND THEREFORE FOLLOWS THE BUREAU'S CONFLICT OF INTEREST POLICY. THE BUREAU MAINTAINS BOTH A WORKERS' COMPENSATION RATING AND INSPECTION BUREAU OF MASSACHUSETTS CONFLICT OF INTEREST POLICY FOR EMPLOYEES AND A WORKERS' COMPENSATION RATING AND INSPECTION BUREAU OF MASSACHUSETTS CONFLICT OF INTEREST POLICY FOR OFFICERS AND MEMBERS OF THE GOVERNING COMMITTEE ("POLICIES"). UNDER THESE POLICIES, EMPLOYEES, OFFICERS AND MEMBERS OF THE GOVERNING COMMITTEE ARE REQUIRED TO EXECUTE (AND SUBMIT TO THE BUREAU'S GENERAL COUNSEL) AN ANNUAL STATEMENT WHICH STATES THAT THEY RECEIVED, READ, AND UNDERSTAND THE CONFLICT OF INTEREST POLICY; THEY UNDERSTAND THAT THE BUREAU IS A NON-PROFIT ENTITY, WHICH MUST NOT ENGAGE IN ACTIVITIES THAT COULD JEPOPARDIZE ITS TAX-EXEMPT STATUS; THAT THE BUREAU MUST BE OPERATED FOR THE PURPOSES STATED IN THE BUREAU'S CONSTITUTION AND THE ASSIGNED RISK POOL PLAN OF OPERATION; AND THAT THE BUREAU MUST BE OPERATED AT ALL TIMES IN ACCORDANCE WITH THE ANTITRUST LAWS. THEY AGREE TO COMPLY WITH THE POLICY AND ACKNOWLEDGE THAT, EXCEPT AS INDICATED ON THE SPACE PROVIDED ON THE ANNUAL STATEMENT, THEY HAVE NOTHING TO DISCLOSE WHICH IS IN CONFLICT WITH THE ESTABLISHED POLICY. SHOULD ANY CHANGE OCCUR IN THEIR SITUATION, THEY SHALL SUBMIT A FURTHER STATEMENT COVERING THE SAME. ONCE EACH YEAR THE BUREAU'S GENERAL COUNSEL WILL ALSO REMIND EMPLOYEES, OFFICERS AND MEMBERS OF THE GOVERNING COMMITTEE OF THEIR OBLIGATON TO SUBMIT A FURTHER STATEMENT IF ANY CHANGE OCCURS IN THEIR SITUATION. IF ANY ANNUAL STATEMENT CONTAINS A DISCLOSURE OF A CONFLICT, OR IF A FURTHER STATEMENT IS SUBMITTED, THE GENERAL COUNSEL WILL FOLLOW THE PROCEDURES SET FORTH IN THE POLICIES. THE ORGANIZATION ALSO FOLLOWS THE BUREAU'S WHISTLEBLOWER POLICY AND DOCUMENT RETENTION AND DESTRUCTION POLICY.
IRS990ScheduleO/GeneralExplanation/Explanation4THE ORGANIZATION'S ADMINISTRATORS ARE ALSO OFFICERS OF THEIR RELATED TAX EXEMPT ORGANIZATION, THE WORKERS' COMPENSATION RATING AND INSPECTION BUREAU OF MASSACHUSETTS (BUREAU). COMPENSATION FOR THESE INDIVIDUALS IS DETERMINED ACCORDING TO THE BUREAU'S CONSTITUTION. IN ACCORDANCE WITH THE BUREAU'S CONSTITUTION, THE GOVERNING COMMITTEE DIRECTLY DETERMINES THE SALARY OF THE PRESIDENT. AS PART OF THE BUDGET PROCESS, THE GOVERNING COMMITTEE ESTABLISHED A SALARY ADMINISTRATION PROGRAM TO IDENTIFY AND PAY THE APPROPRIATE COMPETITIVE LEVEL OF COMPENSATION TO THE BUREAU PRESIDENT. THE COMPENSATION THAT IS ESTABLISHED IS BASED ON COMPARABLE INDUSTRY DATA. THE PROGRAM INCLUDES ANNUAL SALARY RANGE ADJUSTMENTS TO REMAIN CURRENT WITH THE MARKET VALUE OF THE POSITION. AT THE END OF EACH FISCAL YEAR, THE GOVERNING COMMITTEE CHAIR AND VICE CHAIR REVIEW THE PERFORMANCE OF THE BUREAU PRESIDENT AND, ALONG WITH THE FULL GOVERNING COMMITTEE, ESTABLISH THE NEW COMPENSATION FOR THAT POSITION BASED ON MARKET DRIVEN SALARY RANGE DATA AND MEASURED PERFORMANCE. THE COMMITTEE ALSO SETS GOALS AND PERFORMANCE MEASURES FOR THE FOLLOWING YEAR. PURSUANT TO THE BUREAU CONSTITUTION, THE COMPENSATION OF ALL OTHER BUREAU OFFICERS, AS WELL AS ALL OTHER BUREAU EMPLOYEES, IS ESTABLISHED AS PART OF THE ANNUAL BUDGET APPROVAL PROCESS WHEREBY THE BUDGET/ PERSONNEL OVERVIEW COMMITTEE REVIEWS AND DISCUSSES THE EMPLOYEE SALARY ADMINISTRATION PROGRAM WHICH WAS APPROVED BY THE BUDGET/ PERSONNEL OVERVIEW COMMITTEE AND GOVERNING COMMITTEE. THE BUDGET INCLUDES RECOMMENDATIONS OF ANY REQUIRED SALARY RANGE MOVEMENTS AS WELL AS THE MERIT INCREASE GUIDELINES FOR THE UPCOMING YEAR. THE SALARY ADMINISTRATION PROGRAM IS UPDATED ANNUALLY. THE COMPENSATION DATA THAT IS INCLUDED IN THE SALARY ADMINISTRATION PROGRAM FOR OFFICERS IS PROVIDED BY TWO (2) INDEPENDENT THIRD PARTY COMPENSATION CONSULTING FIRMS. THESE INDEPENDENT CONSULTANTS CONDUCT SURVEYS OF OTHER EMPLOYERS, WITH AN EMPHASIS ON EMPLOYERS IN THE INSURANCE-RELATED INDUSTRIES WHO ARE IN THE NORTHEAST AND, WHENEVER POSSIBLE, THOSE WITH SIMILAR REVENUES TO THE BUREAU. AS A RESULT, THE COMPENSATION OF THE BUREAU'S MOST SENIOR EXECUTIVES IS CONSISTENT WITH THE PREVAILING MARKET RATES FOR SIMILAR POSITIONS. AFTER THE BUDGET/PERSONNEL OVERVIEW COMMITTEE VOTES TO APPROVE THE SALARY BUDGET, INCLUDING ANY AMENDMENTS THEY MAY MAKE, IT IS THEN PRESENTED TO THE GOVERNING COMMITTEE FOR REVIEW AND DISCUSSION AS PART OF THE FULL BUREAU BUDGET. AFTER REVIEW, DISCUSSIONS AND ANY FURTHER AMENDMENTS, THE GOVERNING COMMITTEE VOTES ON THE BUDGET.
IRS990ScheduleO/GeneralExplanation/Explanation5A DESCRIPTION OF THE ORGANIZATION'S CONFLICT OF INTEREST POLICY AND THE FINANCIAL AND GOVERNING INFORMATION OF THE ORGANIZATION ARE REPORTED IN THE FORM 990, WHICH IS AVAILABLE AT WWW.GUIDESTAR.ORG.
IRS990ScheduleO/GeneralExplanation/Explanation6PRIMARY ACTIVITY - INSURANCE RATING ORGANIZATION
IRS990ScheduleO/GeneralExplanation/Explanation7UNREALIZED GAIN FROM INVESTMENT ACTIVITY $(357,469)
IRS990ScheduleO/GeneralExplanation/Explanation8NAME:AIM MUTUAL INS. CO. TITLE:DIRECTOR HOURS:1
IRS990ScheduleO/GeneralExplanation/Explanation9NAME:ASSOCIATED INDUSTRIES OF MA TITLE:DIRECTOR HOURS:1
IRS990ScheduleO/GeneralExplanation/Explanation10NAME:ATLANTIC CHARTER INS. CO. TITLE:DIRECTOR HOURS:1
IRS990ScheduleO/GeneralExplanation/Explanation11NAME:CHARTIS INS. CO. TITLE:DIRECTOR HOURS:1
IRS990ScheduleO/GeneralExplanation/Explanation12NAME:HARTFORD ACCIDENT AND INDEMNITY TITLE:DIRECTOR HOURS:1
IRS990ScheduleO/GeneralExplanation/Explanation13NAME:LIBERTY MUTUAL INS. CO. TITLE:DIRECTOR HOURS:1
IRS990ScheduleO/GeneralExplanation/Explanation14NAME:MAGNA CARTA COMPANIES TITLE:DIRECTOR HOURS:1
IRS990ScheduleO/GeneralExplanation/Explanation15NAME:MA ASSOCIATION OF INSURANCE AGENTS TITLE:DIRECTOR HOURS:1
IRS990ScheduleO/GeneralExplanation/Explanation16NAME:MASS. AFL/CIO TITLE:DIRECTOR HOURS:1
IRS990ScheduleO/GeneralExplanation/Explanation17NAME:MEADOWBROOK INS. GROUP TITLE:DIRECTOR HOURS:1
IRS990ScheduleO/GeneralExplanation/Explanation18NAME:TRAVELERS INS. CO. TITLE:DIRECTOR HOURS:1
IRS990ScheduleO/GeneralExplanation/Explanation19NAME:ZURICH AMERICAN INSURANCE COMPANY TITLE:DIRECTOR HOURS:1
IRS990ScheduleO/GeneralExplanation/Explanation20NAME:PAUL F MEAGHER TITLE:PRESIDENT HOURS:40
IRS990ScheduleO/GeneralExplanation/Explanation21NAME:RICHARD G ALMON TITLE:VP FINANCE & ADMINISTRATION HOURS:40
IRS990ScheduleO/GeneralExplanation/Identifier0STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS
IRS990ScheduleO/GeneralExplanation/Identifier1GOVERNING BODY AND MANAGEMENT
IRS990ScheduleO/GeneralExplanation/Identifier2FORM 990 REVIEW PROCESS
IRS990ScheduleO/GeneralExplanation/Identifier3CONFLICT OF INTEREST POLICY
IRS990ScheduleO/GeneralExplanation/Identifier4COMPENSATION POLICY
IRS990ScheduleO/GeneralExplanation/Identifier5DISCLOSURE OF DOCUMENTS
IRS990ScheduleO/GeneralExplanation/Identifier6IDENTIFICATION OF RELATED TAX-EXEMPT ORGANIZATIONS
IRS990ScheduleO/GeneralExplanation/Identifier7RECONCILIATION OF NET ASSETS
IRS990ScheduleO/GeneralExplanation/Identifier8HOURS DEVOTED FOR RELATED ORGANIZATION
IRS990ScheduleO/GeneralExplanation/Identifier9HOURS DEVOTED FOR RELATED ORGANIZATION
IRS990ScheduleO/GeneralExplanation/Identifier10HOURS DEVOTED FOR RELATED ORGANIZATION
IRS990ScheduleO/GeneralExplanation/Identifier11HOURS DEVOTED FOR RELATED ORGANIZATION
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IRS990ScheduleO/GeneralExplanation/Identifier15HOURS DEVOTED FOR RELATED ORGANIZATION
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IRS990ScheduleO/GeneralExplanation/Identifier17HOURS DEVOTED FOR RELATED ORGANIZATION
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IRS990ScheduleO/GeneralExplanation/Identifier19HOURS DEVOTED FOR RELATED ORGANIZATION
IRS990ScheduleO/GeneralExplanation/Identifier20HOURS DEVOTED FOR RELATED ORGANIZATION
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IRS990ScheduleO/GeneralExplanation/ReturnReference0PART III, LINE 1
IRS990ScheduleO/GeneralExplanation/ReturnReference1PART VI, SECTION A, LINES 6-7B
IRS990ScheduleO/GeneralExplanation/ReturnReference2PART VI, SECTION B, LINE 11A
IRS990ScheduleO/GeneralExplanation/ReturnReference3PART VI, SECTION B, LINE 12
IRS990ScheduleO/GeneralExplanation/ReturnReference4PART VI, SECTION B, LINE 15
IRS990ScheduleO/GeneralExplanation/ReturnReference5PART VI, SECTION C, LINE 19
IRS990ScheduleO/GeneralExplanation/ReturnReference6SCHEDULE R, PART II, COLUMN (B)
IRS990ScheduleO/GeneralExplanation/ReturnReference7FORM 990, PART XI, LINE 5
IRS990ScheduleO/GeneralExplanation/ReturnReference8FORM 990 PART VII
IRS990ScheduleO/GeneralExplanation/ReturnReference9FORM 990 PART VII
IRS990ScheduleO/GeneralExplanation/ReturnReference10FORM 990 PART VII
IRS990ScheduleO/GeneralExplanation/ReturnReference11FORM 990 PART VII
IRS990ScheduleO/GeneralExplanation/ReturnReference12FORM 990 PART VII
IRS990ScheduleO/GeneralExplanation/ReturnReference13FORM 990 PART VII
IRS990ScheduleO/GeneralExplanation/ReturnReference14FORM 990 PART VII
IRS990ScheduleO/GeneralExplanation/ReturnReference15FORM 990 PART VII

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$8.21$0.00$8.21$0.21$0.20$0.01
2023Detailed filing. Detailed filing data is available for this year.$7.63$0.00$7.63$0.18$0.18$0.00
2022Detailed filing. Detailed filing data is available for this year.$6.83$0.00$6.83$0.16$0.18$0.02
2021Detailed filing. Detailed filing data is available for this year.$8.28$0.00$8.28$0.15$0.17$0.02
2020Detailed filing. Detailed filing data is available for this year.$7.59$0.00$7.59$0.15$0.17$0.02
2019Detailed filing. Detailed filing data is available for this year.$6.90$0.00$6.90$0.16$0.16$0.01
2018Detailed filing. Detailed filing data is available for this year.$5.91$0.00$5.91$0.15$0.00$0.15
2017Detailed filing. Detailed filing data is available for this year.$4.82$0.00$4.82$0.09$0.00$0.09
2016Detailed filing. Detailed filing data is available for this year.$2.93$0.00$2.93$0.07$0.00$0.07
2015Detailed filing. Detailed filing data is available for this year.$2.75$0.00$2.75$0.07$0.00$0.07
2014Detailed filing. Detailed filing data is available for this year.$2.75$0.00$2.75$0.07$0.00$0.07
2013Detailed filing. Detailed filing data is available for this year.$2.57$0.00$2.57$0.06$0.00$0.06
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.24$0.00$2.24$0.00
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.01$0.00$2.01$0.00