Woods Services Workers' Compensation Trust

Nonprofit profile at a glance

EIN
232407907
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Langhorne, PA, USA
Phone
2157504000
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$2,556,568
Expenses
$3,482,170
Assets
$2,903,998
Liabilities
$7,707,851

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

Leadership & pay

5 people listed

Executive titles in this filing

  • TINE HANSEN-TURTON (EX-OFFICIO (Pres/CEO WSOC))

Highest reported compensation

  • TINE HANSEN-TURTON (EX-OFFICIO (Pres/CEO WSOC)): $1,531,144 total reported compensation
  • JULIA PFISTER (TRUSTEE (EVP Chief HR Officer)): $402,080 total reported compensation

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

Overview

Mission

The trust is to be used exclusively to support and benefit woods services, inc. By serving as a repository for woods' funds in order to meet its obligations to provide workers' compensation benefits to its employees.

What it reported doing in 2024

The trust provides, through self-insurance and through certain excess coverage insurance policies, workers' compensation benefits to woods services, inc. Employees or their beneficiaries up to the maximum levels of any final workers' compensation benefits.

Operating model

Revenue model
Earned-program. 96% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 88% of its reported program spending for member benefits.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 77
  • Accountability: 53
  • Sustainability: 20
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 60%; rating input score 60; 9th percentile among comparable filings
  • Governance controls: 4 of 9 controls in place; rating input score 44
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -36.2%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 0.83; rating input score 31; 31st percentile among comparable filings
  • Liabilities to assets ratio: 2.65; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 1.3%; rating input score 79; 79th percentile among comparable filings

Growth

  • Program expense growth: 0.3% per year; rating input score 100; 15th percentile among comparable filings
  • Revenue growth: -1.8% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: 1% per year; rating input score 100; 16th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 3 of 5 board members independent · 4 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.5M in reported program spending
  • Leadership: top reported pay $1.5M · 5 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 26 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.

  • Moderate — Accountability: Governance controls: 5 of 9 not reported.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 31/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.