National Workers Compensation Reinsurance Association Nfp

Nonprofit profile at a glance

EIN
262812823
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Chicago, IL, USA
Phone
3124431823
Rating confidence
Limited
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$5,912,456
Expenses
$5,912,456
Assets
$1,169,023
Liabilities
$1,169,023

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

14 people listed

People named in this filing

  • GERALD CHIDDICK (DIRECTOR)
  • MARISUE NEWMAN (DIRECTOR)
  • EDWARD HANLON (CHAIR THRU JUNE 2024, DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

National workers compensation reinsurance association nfp (the association) was organized and is operated to promote and represent the common business interests and improve business conditions among workers compensation insurance companies. The association assists workers compensation insurance companies to comply with the state plans and facilitates the statutory obligation to participate in the involuntary market. The association oversees the administration and monitors compliance of the quota share reinsurance arrangement with the state plans and the involuntary market laws of those states that have determined the quota share reinsurance arrangement with the state plans and the involuntary market laws of those states that have determined the quota share reinsurance arrangement is in compliance with the state requirements.

What it reported doing in 2024

The association oversees the administration and monitors compliance of the quota share reinsurance arrangements with the state plans and the involuntary market laws of those states that have determined the quota share reinsurance arrangement is in compliance with the state plans.

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 90
  • Accountability: 94
  • Sustainability: 29
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 0.2; rating input score 6; 6th percentile among comparable filings
  • Liabilities to assets ratio: 1; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 2.7% per year; rating input score 100; 25th percentile among comparable filings
  • Asset growth: 1.9% per year; rating input score 100; 19th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 12 of 12 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 14 people listed
  • Highest-paid contractors: 2 contractors listed · $5.4M reported
  • Consistency: 10 of 10 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Sustainability: Operating margin scored 33/100.
  • High — Sustainability: Total-asset coverage ratio scored 6/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.