THE WORKERS COMPENSATION RATING & INSPECTION BUREAU OF MASSACHUSETTS (EIN 041591010) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1915

Legal Domicile

Principal Officer

DANIEL JUDSON

Phone

6174399030

Tax Period

2023-01-01 to 2023-12-31

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.

Mission

THE WORKERS' COMPENSATION RATING & INSPECTION BUREAU OF MASSASCHUSETTS (WCRIBMA) IS A NON-PROFIT UNINCORPORATED ASSOCIATION OF INSURERS THAT IS LICENSED BY THE MASSACHUSETTS DIVISION OF INSURANCE AS A RATING ORGANIZATION FOR WORKERS' COMPENSATION INSURANCE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $15,462,384

Investment Income $186,914

Other Revenue $272,188

TOTAL REVENUE $15,921,486

Expense Breakdown

Grants Paid $0

Salaries & Benefits $8,047,762

Fundraising Expenses $0

Other Expenses $5,794,878

TOTAL EXPENSES $13,842,640

Year-over-Year Comparison

	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%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

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

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$2,009,218

Total Directors

Key Employees

$314,733

Highest Compensated

reported

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
N/A	DIRECTOR	1.00		$0	$0	$0
N/A	DIRECTOR	1.00		$0	$0	$0
N/A	DIRECTOR	1.00		$0	$0	$0
N/A	DIRECTOR	1.00		$0	$0	$0
N/A	DIRECTOR	1.00		$0	$0	$0
N/A	DIRECTOR	1.00		$0	$0	$0
N/A	DIRECTOR	1.00		$0	$0	$0
N/A	DIRECTOR	1.00		$0	$0	$0
N/A	DIRECTOR	1.00		$0	$0	$0
N/A	DIRECTOR	1.00		$0	$0	$0
N/A	DIRECTOR	1.00		$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

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

THE WORKERS COMPENSATION RATING & INSPECTION BUREAU OF MASSACHUSETTS