Workers Compensation Reinsurance Association
Public records raise at least one point you should look into before giving.
What it says it does
THE WCRA ENSURES THE AVAILABILITY OF LONGTERM REINSURANCE PROTECTION FOR SERIOUS MINNESOTA WORKERS' COMPENSATION CLAIMS. OUR STAFF OF INNOVATIVE PROFESSIONALS IS DEDICATED TO ACHIEVING THE HIGHEST STANDARD OF EXCELLENCE THROUGH STABLE AND REASONABLE RATES, EXPERT CLAIMS ADMINISTRATION, FINANCIAL STABILITY, AND INFORMATIONAL SERVICES.
- Income
- $260.6 million
- Spending
- $-6.5 million
- Employees
- 34
- Volunteers
- 0
- Highest pay
- $524,805, president & ceo
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. How we rate
Financial health
We do not score finances when yearly spending is very small or the return has too little detail. The ratios stop meaning much at that size.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. How we rate
Governance
This return does not answer enough of the governance questions to score.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (1)
- IN 2024, THE WCRA REIMBURSED 2,690 CLAIM REQUESTS AND PAID $73,440,955 FOR THESE CLAIMS. RESERVES FOR LOSSES AND LOSS EXPENSES DECREASED BY $94,920,757. OVERHEAD EXPENSES ALLOCATED TO LOSS EXPENSES TOTALED $2,471,335. THE WCRA PROVIDES REINSURANCE PROTECTION FOR SERIOUS WORKERS' COMPENSATION LOSSES TO ALL PRIMARY WORKERS' COMPENSATION INSURANCE PROVIDERS AND SELF-INSURED EMPLOYERS IN THE STATE OF MINNESOTA. THE ASSOCIATION PROVIDES FULL INDEMNIFICATION TO ITS MEMBERS FOR WORKERS' COMPENSATION LOSSES IN EXCESS OF A MEMBER'S RETENTION LIMIT, AS PROVIDED FOR UNDER MINNESOTA STATUTES, CHAPTERS 79 AND 176. FOR 2024, REINSURANCE PREMIUMS WERE BILLED TO ITS MEMBERS TO COVER THE ESTIMATED PRESENT VALUE, USING AN ANNUAL DISCOUNT RATE OF 6.5%, OF THE ESTIMATED ULTIMATE LIABILITY FOR MEMBERS' INCURRED LOSSES. PREMIUMS ALSO COVER THE ESTIMATED LOSS EXPENSES, OPERATING, AND ADMINISTRATIVE EXPENSES OF THE WCRA. PREMIUMS ARE INVESTED IN BONDS, EQUITIES, AND OTHER INVESTMENTS WITH AN OBJECTIVE OF EARNING AN ANNUAL 6.5% RETURN. SECURITIES ARE STATED AT FAIR MARKET VALUE, WHILE CERTAIN OTHER ASSETS ARE STATED AT NET ASSET VALUE. THE WCRA ANTICIPATES PAYING FUTURE CLAIMS OF $3.2 BILLION FOR LOSSES AND LOSS EXPENSES INCURRED ON OR BEFORE 12/31/2024. LOSSES PAID FROM WCRA'S 1979 INCEPTION THROUGH 12/31/2024 EQUAL $2.0 BILLION. THE WCRA IS EXEMPT FROM FEDERAL INCOME TAX UNDER IRS SECTION 501(C)(27)(A). TO QUALIFY FOR THIS EXEMPTION, ANY MEMBERSHIP ORGANIZATION MUST MEET ALL THE FOLLOWING REQUIREMENTS: 1) IT WAS ESTABLISHED BY A STATE BEFORE JUNE 1, 1996, EXCLUSIVELY TO REIMBURSE MEMBERS FOR LOSSES UNDER WORKERS' COMPENSATION ACTS; 2) THE STATE REQUIRES THAT THE MEMBERSHIP CONSIST OF ALL PERSONS WHO ISSUE INSURANCE COVERING WORKERS' COMPENSATION LOSSES IN THE STATE AND ALL PERSONS AND GOVERNMENT ENTITIES WHO SELF-INSURE AGAINST THOSE LOSSES; 3) IT OPERATES AS A NONPROFIT ORGANIZATION BY RETURNING SURPLUS INCOME TO ITS MEMBERS OR WORKERS' COMPENSATION POLICYHOLDERS ON A PERIODIC BASIS AND BY REDUCING INITIAL PREMIUMS IN ANTICIPATION OF INVESTMENT INCOME.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(27) organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.
Are donations tax-deductible? Caution.
The IRS master file records contributions to this 501(c)(27) organization as not deductible.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since February 1997.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.