Wea Insurance Corporation

Nonprofit profile at a glance

EIN
391519322
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Madison, WI, USA
Phone
8002794000
Rating confidence
Limited

Reported finances

Revenue
$22,425,092
Expenses
$14,992,772
Assets
$552,068,528
Liabilities
$476,794,414

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

Leadership & pay

13 people listed

Executive titles in this filing

  • VAUGHN VANCE (PRESIDENT & CEO)
  • BARB RUEGSEGGER (VICE PRESIDENT & CORPORATE SECRETARY)

Highest reported compensation

  • VAUGHN VANCE (PRESIDENT & CEO): $482,324 total reported compensation
  • BARB RUEGSEGGER (VICE PRESIDENT & CORPORATE SECRETARY): $226,318 total reported compensation
  • JIM KRUEGER (CONTROLLER & CORPORATE TREASURER): $22,968 total reported compensation

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

Overview

Mission

Ensuring peace of mind along the healthcare journey through compassionate employees who proudly deliver exceptional services.

What it reported doing in 2024

Performance of services necessary for the operation of the Wisconsin education association insurance trust (wea trust), including the payment of claims and related administrative costs association with trust benefit plans using trust funds.

Operating model

Revenue model
Investment-supported. 90% of the money available for current operations came from recurring investment income.
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: 54
  • Accountability: 95
  • Sustainability: 81
  • Growth: 0

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; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 33.1%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 36.82; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.86; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 2.9%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -7.6% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -0.9% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 10 of 10 board members independent · 8 of 9 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $482K · 13 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $3.4M reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 5 filed schedules · includes foreign activity, executive pay, and related organizations
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 13 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.