BOSTON, MA
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)THE WORKERS COMPENSATION RATING & INSPECTION BUREAU OF MASSACHUSETTS, founded in 1915, is a mid-sized nonprofit that reported $15.9M in total revenue in fiscal year 2023. Expenses of $13.8M left a modest 13% surplus.
THE WORKERS' COMPENSATION RATING & INSPECTION BUREAU OF MASSASCHUSETTS (WCRIBMA) IS A VOLUNTARY NON-PROFIT UNINCORPORATED ASSOCIATION OF INSURERS. PURSUANT TO THE PROVISIONS OF MASSACHUSETTS GENERAL LAWS CHAPTER 152, SECTIONS 52C, 63 AND 65C, WCRIBMA IS LICENSED BY THE MASSACHUSETTS DIVISION OF INSURANCE AS THE RATING ORGANIZATION FOR WORKERS' COMPENSATION INSURANCE IN MASSACHUSETTS; IT IS THE COVERAGE VERIFICATION ENTITY FOR THE MASSACHUSETTS DEPARTMENT OF INDUSTRIAL ACCIDENTS; AND THE ADMINISTRATOR OF THE MASSACHUSETTS WORKERS' COMPENSATION ASSIGNED RISK POOL. THE WCRIBMA ALSO ACTS AS THE STATISTICAL AGENT FOR WORKERS' COMPENSATION DATA ON BEHALF OF THE MASSACHUSETTS DIVISION OF INSURANCE. THE WCRIBMA, WHICH IS GOVERNED BY A CONSTITUTION AND ADHERES TO ANTITRUST GUIDELINES, COLLECTS AND COMPILES PREMIUM AND LOSS STATISTICS FOR USE IN RATE FILINGS AND VARIOUS RATING PLANS THAT ARE APPROVED BY THE MASSACHUSETTS DIVISION OF INSURANCE. ON BEHALF OF ITS MEMBERS AND SUBSCRIBERS, THE WCRIBMA MAKES AND FILES RATES, RULES, CLASSIFICATIONS, RATING PLANS, POLICY FORMS AND ENDORSEMENTS, AND OTHER MATERIAL PERTINENT FOR WORKERS' COMPENSATION AND EMPLOYERS' LIABILITY INSURANCE POLICIES, WHICH ARE REVIEWED AND APPROVED BY THE DIVISION OF INSURANCE.
ON BEHALF OF ITS MEMBERS, THE WCRIBMA SUBMITTED A RATE FILING TO THE MASSACHUSETTS DIVISION OF INSURANCE.
THE WCRIBMA CARRIED OUT ITS RESPONSIBILITIES AS THE STATISTICAL AGENT FOR WORKERS' COMPENSATION DATA ON BEHALF OF THE MASSACHUSETTS DIVISION OF INSURANCE.
THE WCRIBMA PERFORMED ITS DUTIES AS THE COVERAGE VERIFICATION ENTITY FOR THE MASSACHUSETTS DEPARTMENT OF INDUSTRIAL ACCIDENTS.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $15,921,486 | $15,210,321 | +0.0% |
| Expenses | $13,842,640 | $13,638,849 | +0.0% |
| Net Income | $2,078,846 | $1,571,472 | +0.3% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
Financial Distress Indicator
Liquidity & Cash Position
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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| DANIEL R JUDSON | PRESIDENT | 40.00 |
Officer
|
$449,057 | $82,623 | $531,680 |
| CAROLYN BERGH | VP & ACTUARY | 40.00 |
Officer
|
$394,880 | $63,941 | $458,821 |
| DANIEL M CROWLEY | VP CUSTOMER SERVICE | 40.00 |
Officer
|
$244,027 | $110,783 | $354,810 |
| CHRISOPHER TIMBONE | VP CIO | 40.00 |
Officer
|
$235,912 | $116,969 | $352,881 |
| ANTHONY SALIDO | AVP ACTUARY/DATA OPS. DIR. | 40.00 |
Key Emp
|
$251,439 | $63,294 | $314,733 |
| ERIC J WILDMAN | VP, CFO | 40.00 |
Officer
|
$229,713 | $81,313 | $311,026 |
| CHRISTINA VAZAKAS | SENIOR ACTUARIAL ANALYST | 40.00 |
Highest
|
$117,592 | $71,521 | $189,113 |
| SEAN MURPHY | SOFTWARE DEV. MANAGER | 40.00 |
Highest
|
$147,298 | $41,704 | $189,002 |
| CHRISTINE CRONIN | RESIDUAL MKT POOL SPECIALIST | 40.00 |
Highest
|
$111,309 | $74,986 | $186,295 |
| CHRISTOPHER CONNORS | NETWORK ADMINISTRATOR | 40.00 |
Highest
|
$157,199 | $26,968 | $184,167 |
| MARY DEPIERRO | CUSTOMER SERVICES MANAGER | 40.00 |
Highest
|
$125,211 | $55,305 | $180,516 |
| N/A | DIRECTOR | 1.00 |
|
$0 | $0 | $0 |
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$0 | $0 | $0 |
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$0 | $0 | $0 |
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$0 | $0 | $0 |
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$0 | $0 | $0 |
| N/A | DIRECTOR | 1.00 |
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$0 | $0 | $0 |
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$0 | $0 | $0 |
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$0 | $0 | $0 |
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$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $15,921,486 | $13,842,640 | $10,455,207 | $2,078,846 |
| 2022 | $15,210,321 | $13,638,849 | $10,799,284 | $1,571,472 |
| 2021 | $14,107,394 | $12,595,944 | $5,354,102 | $1,511,450 |
| 2020 | $13,044,716 | $12,977,816 | $6,134,233 | $66,900 |
| 2019 | $15,957,644 | $13,365,406 | $6,131,583 | $2,592,238 |
| 2018 | $16,771,478 | $12,666,141 | $5,217,499 | $4,105,337 |
Compare THE WORKERS COMPENSATION RATING & INSPECTION BUREAU OF MASSACHUSETTS with other nonprofits in Massachusetts and across the country.