Cause IQ organization profile

WEA Insurance Corporation

WEA Insurance Corporation is a health finance organization based in Madison, WI that was founded in 1985. As of 2019 they had $623 million in revenue and $664 million in assets.

To promote the health and financial security of Trust participants by providing excellent benefit programs and outstanding personal service that respects the dignity and worth of every member. To promote the health and financial security of participan...

EIN:

39-1519322

City:

Madison

State:

Wisconsin

Website:

weatrust.com

Founded:

1985

Type:

501(c)(9)

NTEE:

E83: Health care financing and insurance organizations

Revenue:

$623,900,829

Assets:

$664,672,752

Employees:

271

Fiscal year end:

December

Revenue trends:

Asset trends:

Program areas at WEA Insurance Corporation

Health Insurance programs provide benefits for approximately 46,900 health participants, 275 long-term disability participants, 2,900 vision participants, and 8,200 long term care participants.

Form 990s for WEA Insurance Corporation

Fiscal year ending	Date received by IRS	Form	PDF link
2018-12	Jan 3, 2020	990	View PDF
2017-12	Feb 21, 2019	990	View PDF
2016-12	Mar 14, 2018	990	View PDF
2015-12	Dec 15, 2016	990O	View PDF
2014-12	Sep 23, 2015	990O	View PDF
...and five more Form 990 PDFs

Financials for WEA Insurance Corporation

Field	2018	2017
Federated campaigns	$0	$0
Membership dues	$0	$0
Fundraising event contributions	$0	$0
Related organizations	$0	$0
Government grants (contributions)	$0	$0
Normal grants, contributions, etc.	$0	$0
<em>Non-cash contributions included in above</em>	$0	$0
Total grants, contributions, etc.	$0	$0

Field	2018	2017	% Change
Total grants, contributions, etc.	$0	$0
Program services	$603,790,087	$467,307,480	29.2%
Investment income and dividends	$16,482,232	$13,985,598	17.9%
Tax-exempt bond proceeds	$0	$0
Royalty revenue	$0	$0
Net rental income	$0	$0
Net gain from sale of non-inventory assets	$2,517,095	$3,791,453	-33.6%
Net income from fundraising events	$0	$0
Net income from gaming activities	$0	$0
Net income from sales of inventory	$0	$0
Miscellaneous revenues	$1,111,415	$777,849	42.9%
Total revenues	$623,900,829	$485,862,380	28.4%

Field	2018	2017	% Change
Grants to govts. and orgs. in USA	$57,180	$0	999%
Grants to individuals in USA	$0	$0
Grants to govts., orgs., and individuals outside USA	$0	$0
Benefits paid to or for members	$558,111,020	$433,900,361	28.6%
Compensation of current officers, etc.	$2,540,446	$2,030,915	25.1%
Compensation not included above, to disqualified persons	$0	$0
Non-officer salaries and wages	$16,950,549	$15,067,985	12.5%
Pension/retirement accruals and contributions	$1,020,259	$1,125,047	-9.3%
Other employee benefits	$4,681,754	$4,715,269	-0.7%
Payroll taxes	$1,465,991	$1,465,425	0.0%
Management fees	$0	$0
Legal fees	$305,573	$280,630	8.9%
Accounting fees	$221,364	$1,042,402	-78.8%
Lobbying fees	$135,036	$73,160	84.6%
Pro. fundraising fees	$0	$0
Investment mgmt fees	$1,792,547	$2,299,063	-22.0%
Other fee-for-service	$12,291,504	$10,898,776	12.8%
Advertising and promotion	$169,784	$766,650	-77.9%
Office expenses	$1,294,702	$1,259,357	2.8%
Information tech. expenses	$10,999,161	$11,211,584	-1.9%
Royalty expenses	$0	$0
Occupancy	$2,094,724	$1,976,337	6.0%
Travel	$287,614	$278,406	3.3%
Public official travel and entertainment	$0	$0
Conferences, meetings, etc.	$78,779	$127,958	-38.4%
Interest	$0	$15,314	-100%
Payments to affiliates	$0	$0
Depreciation, amortization, etc.	$125,097	$120,591	3.7%
Insurance	$194,918	$218,063	-10.6%
All other expenses	$-1,167,591	$428,384	-372.6%
Total expenses	$613,650,411	$489,301,677	25.4%

Field	2018	2017	% Change
Cash (non-interest-bearing)	$22,292,139	$10,463,357	113.0%
Savings, short-term investments, etc.	$22,092,550	$28,587,646	-22.7%
Pledges and grants receivable	$0	$0
Accounts receivable	$120,109	$1,945,631	-93.8%
Loans receivable from officers, directors, etc.	$0	$0
Loans receivable from other disqualified persons	$0	$0
Notes and loans receivable	$0	$0
Inventories for use	$0	$0
Prepaid expenses and deferred charges	$1,411,357	$1,369,627	3.0%
Buildings, equipment, etc. post-depreciation	$518,694	$643,005	-19.3%
Investments, publicly traded securities	$592,750,820	$612,540,926	-3.2%
Investments, other securities
Investments, program-related	$10,367,956
Intangible assets	$0	$0
Other assets	$15,119,127	$8,313,934	81.9%
Total assets	$664,672,752	$663,864,126	0.1%

Field	2018	2017	% Change
Accounts payable and accrued expenses	$24,835,566	$21,397,985	16.1%
Grants payable	$0	$0
Deferred revenue	$17,448,802	$20,801,915	-16.1%
Tax-exempt bond liabilities	$0	$0
Escrow or custodial account liability	$0	$0
Loans payable to officers and disqualified persons	$0	$0
Secured mortgages and notes payable to unrelated third parties	$0	$0
Unsecured notes and loans payable to unrelated third parties	$0	$0
Other liabilities	$456,807,554	$446,152,334	2.4%
Total liabilities	$499,091,922	$488,352,234	2.2%

Field	2018	2017
Unrestricted net assets	$0	$0
Temporarily restricted net assets	$0	$0
Permanently restricted net assets	$0	$0

Vendors for WEA Insurance Corporation

Vendor	Services	Amount paid	Date
DNN / DotNetNuke	Content management system software		2020-06-23
█████ ███	Tax accounting		2019-02-13
██████████	Marketing software		2018-10-10
█████████ ████████	Software		2018-10-10
██████████ ████████ ███	Information Technology Company	$1,396,570	2017-12-01
█████████ ██████████ ███████ ███	Pharmacy Benefit Manager	$38,900,259	2017-12-01
██ █████████ █████████ ███	Agency Commissions	$1,676,864	2017-12-01
███ ████ ███████████ ███	Property Management	$1,869,524	2017-12-01
...and eight more vendors

Personnel at WEA Insurance Corporation

Name	Title	Compensation	Most recent data
Michael Quist	Chief Executive Officer and President	$406,076	Dec. 31, 2018
Dawn Witek	Vice President of Accounting and Finance / Finance and Accounting	$160,467	Jan. 3, 2020
██████ ███████	Vice President of Human Resources	$148,589	Dec. 31, 2018
█████ ██████ ███████	Director of Human Resources	$128,671	Dec. 31, 2018
██████ █████	General Counsel	$217,528	Dec. 31, 2018
████████ ██████	Director of Customer Solutions	$149,313	Dec. 31, 2018
██████ █████	Director of Provider Contracting and Network Management	$148,421	Dec. 31, 2018
███████ ████	Senior Director of Insurance Operations	$162,109	Dec. 31, 2018
████ █████	Former Chief Executive Officer and President	$411,140	Dec. 31, 2018
███████ ██████████	Corporate Secretary	$92,932	Dec. 31, 2018
...and five more key personnel

Peer health care financing and insurance organizations

	Name	Type	Revenue	Location
1	1199 SEIU NBF for Home Care Employees	501(c)(9)	$213 million	New York, NY
2	1199SEIU Greater New York Benefit Fund	501(c)(9)	$208 million	New York, NY
3	American Foreign Service Protective Association (AFSPA)	501(c)(9)	$390 million	Washington, DC
4	Building Service 32BJ Health Fund	501(c)(9)	$1.4 billion	New York, NY
5	Common Ground Healthcare Cooperative	501(c)(29)	$566 million	Brookfield, WI
6	Children's Community Health Plan (CCHP)	501(c)(3)	$460 million	Milwaukee, WI
7	Delta Dental of Wisconsin	501(c)(4)	$754 million	Stevens Point, WI
8	Security Health Plan of Wisconsin	501(c)(4)	$1.3 billion	Marshfield, WI
9	Northeast Carpenters Health Fund	501(c)(9)	$318 million	Edison, NJ
10	Michigan Conference of Teamsters Welfare Fund	501(c)(9)	$293 million	Detroit, MI
11	American Postal Workers Union Health Plan (APWU)	501(c)(9)	$1.3 billion	Glen Burnie, MD
12	District Council 37 Health and Security Plan Trust	501(c)(9)	$224 million	New York, NY
13	United Federation of Teachers Welfare Fund	501(c)(9)	$445 million	New York, NY
14	Midwest Operating Engineers Welfare Fund	501(c)(9)	$232 million	Countryside, IL
15	Directors Guild of America - Producer Health Plan	501(c)(9)	$160 million	Los Angeles, CA
16	Michigan Education Special Services Association	501(c)(9)	$587 million	East Lansing, MI
17	Motion Picture Industry Pension and Health Plans (MPIPHP)	501(c)(9)	$854 million	Studio City, CA
18	Physicians Health Plan	501(c)(4)	$206 million	Lansing, MI
19	Tufts Health Public Plans	501(c)(4)	$2.1 billion	Watertown, MA
20	Maine Community Health Options	501(c)(29)	$424 million	Lewiston, ME
21	Delta Dental of Missouri	501(c)(4)	$623 million	St Louis, MO
22	Sharp Health Plan	501(c)(4)	$789 million	San Diego, CA
23	Independent Health Association	501(c)(4)	$1.4 billion	Buffalo, NY
24	Capital District Physicians Health Plan (CDPHP)	501(c)(4)	$1.5 billion	Albany, NY
25	1199seiu National Benefit Fund for Health and Human Service Employees	501(c)(9)	$1.5 billion	New York, NY

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Cause IQ organization profile

WEA Insurance Corporation

Program areas at WEA Insurance Corporation

Form 990s for WEA Insurance Corporation

Financials for WEA Insurance Corporation

Vendors for WEA Insurance Corporation

Personnel at WEA Insurance Corporation

Peer health care financing and insurance organizations

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