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← GEORGIA SCHOOL BOARDS ASSOCIATION WORKERS COMPENSATION FUND

Form 990 for tax year 2023

Filed by GEORGIA SCHOOL BOARDS ASSOCIATION WORKERS COMPENSATION FUND.

Totals

Total revenue
$20,644,938
Total expenses
$17,673,011
Contributions and grants received
$0
Grants paid
$33,225
Program service revenue
$15,523,971
Investment income
$5,120,967
Other revenue
$0
Total assets, end of year
$91,941,475
Total liabilities, end of year
$26,805,834
Net assets or fund balances, end of year
$65,135,641
Program services expenses (Part IX)
$16,697,828
Management and general expenses
$975,183
Fundraising expenses
$0
Program service expenses (Part III)
$16,697,828

Program services were 94.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: FUND CONTRIBUTIONS

    total $15,523,971 · related or exempt $15,523,971

  • 3 · Investment income

    total $4,043,811 · excluded $4,043,811

  • 7a · Gross sales of assets other than inventory

    securities $48,024,012

  • 7b · Less cost or other basis and sales expenses

    securities $46,946,856

  • 7c · Gain or loss

    securities $1,077,156

  • 7d · Net gain or loss

    total $1,077,156 · excluded $1,077,156

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $33,225 · program services $33,225

  • 11a · Fees: management

    total $689,762 · management and general $689,762

  • 11b · Fees: legal

    total $11,000 · management and general $11,000

  • 11c · Fees: accounting

    total $28,124 · management and general $28,124

  • 11f · Fees: investment management

    total $200,881 · management and general $200,881

  • 11g · Fees: other

    total $2,149,056 · program services $2,149,056

  • 13 · Office expenses

    total $10,722 · management and general $10,722

  • 14 · Information technology

    total $101,485 · program services $101,485

  • 17 · Travel

    total $2,535 · management and general $2,535

  • 19 · Conferences, conventions and meetings

    total $979 · management and general $979

  • 23 · Insurance

    total $29,744 · management and general $29,744

  • 24a · Other expenses: ESTIMATED AND INCURRED

    total $12,151,954 · program services $12,151,954

  • 24b · Other expenses: SURPLUS DISTRIBUTIONS

    total $1,314,536 · program services $1,314,536

  • 24c · Other expenses: EXCESS INSURANCE EXPENS

    total $864,641 · program services $864,641

  • 24d · Other expenses: WCF BOARD ASSESSMENT

    total $82,931 · program services $82,931

  • 24e · All other expenses

    total $1,436 · management and general $1,436

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $36,364,149 · end of year $38,326,179

  • 4 · Accounts receivable

    beginning of year $1,486,510 · end of year $1,112,878

  • 9 · Prepaid expenses and deferred charges

    beginning of year $89,877 · end of year $252,708

  • 11 · Investments: publicly traded securities

    beginning of year $48,141,907 · end of year $51,933,028

  • 15 · Other assets

    beginning of year $267,612 · end of year $316,682

  • 17 · Accounts payable and accrued expenses

    beginning of year $116,975 · end of year $136,442

  • 19 · Deferred revenue

    beginning of year $27,700 · end of year $20,398

  • 25 · Other liabilities

    beginning of year $25,598,288 · end of year $26,648,994

  • 27 · Net assets without donor restrictions

    beginning of year $60,607,092 · end of year $65,135,641

Mission and programs · 2023

Mission

THE MISSION OF THE GEORGIA SCHOOL BOARDS ASSOCIATION WORKERS' COMPENSATION FUND IS TO PARTNER WITH LOCAL SCHOOL SYSTEMS TO PROTECT ASSETS AND MINIMIZE LOSSES THROUGH SUPERIOR CUSTOMIZED ALTERNATIVES TO TRADITIONAL INSURANCE WHILE MAINTAINING FINANCIAL INTEGRITY.

Activities or mission (Part I)

SEE SCHEDULE O FOR COMPLETE DESCRIPTION.THE MISSION OF THE GEORGIA SCHOOL BOARDS ASSOCIATION WORKERS'COMPENSATION FUND IS TO PARTNER WITH LOCAL SCHOOL SYSTEMS TO PROTECTASSETS AND MINIMIZE LOSSES THROUGH SUPERIOR CUSTOMIZED ALTERNATIVES TOTRADITIONAL INSURANCE WHILE MAINTAINING FINANCIAL INTEGRITY.

  • DEVELOP, IMPLEMENT, AND ADMINISTER A PROGRAM OF WORKERS' COMPENSATION SELF INSURANCE FOR ITS MEMBER ORGANIZATIONS.GSBA WORKERS' COMPENSATION FUND OFFERS PROTECTION THROUGH ITS GROUP-SELF-INSURANCE PLANS FOR WORKERS' COMPENSATION. THE ORGANIZATION PARTNERS WITH GEORGIA PUBLIC SCHOOL SYSTEMS AND GOES FAR BEYOND THE NORMAL SERVICE FROM A COMMERCIAL INSURANCE BROKER. THE STAFF BUILDS RELATIONSHIPS WITH ITS MEMBERS AND PROVIDES TRAINING AND INFORMATION TO ASSIST MEMBERS IN SUCCESSFULLY MANAGING THEIR RISKS.THE GSBA WORKERS' COMPENSATION FUND PROVIDES SCHOOL DISTRICTS AN ALTERNATIVE TO PURCHASING TRADITIONAL INSURANCE. KEEPING EMPLOYEES ON THE JOB, WHETHER IT'S IN THE CLASSROOM, ON THE SCHOOL BUS, OR IN THE CAFETERIA, THROUGH TARGETED LOSS PREVENTION STRATEGIES AND COMPREHENSIVE CLAIMS MANAGEMENT, IS THE KEY TO CONTINUED SUCCESS.

    Expenses $16,697,828 · Grants $33,225 · Revenue $15,523,971

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Valarie V Wilson

    EXECUTIVE DIRECTOR

    Total calculated
    $336,553
    From this org
    $0
    From related orgs
    $290,612
    Other
    $45,941
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    $0 + $282,228 related
    Bonus
    $0 + $715 related
    Other
    $0 + $7,669 related
    Deferred
    $0 + $29,768 related
    Nontaxable benefits
    $0 + $16,173 related
    Filer's total
    $0 + $336,553 related

  • Steve Barnette

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Karen Armstrong

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Bryon Jones

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Staci Newsome

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Scott Cowart

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Ron Hopkins

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Paul Brooksher

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Lora McAdams

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Adam Hathaway

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • BALDWIN COUNTY SCHOOLS

    EDUCATION · GA

  • BLECKLEY COUNTY SCHOOLS

    EDUCATION · GA

  • BRANTLEY COUNTY SCHOOLS

    EDUCATION · GA

  • BREMEN CITY SCHOOLS

    EDUCATION · GA

  • BRYAN COUNTY SCHOOLS

    EDUCATION · GA

  • BUTTS COUNTY SCHOOLS

    EDUCATION · GA

  • CALHOUN CITY SCHOOLS

    EDUCATION · GA

  • CARROLL COUNTY SCHOOLS

    EDUCATION · GA

  • CENTRAL SAVANNAH RIVER AREA RESA

    EDUCATION · GA

  • CHARLTON COUNTY SCHOOLS

    EDUCATION · GA

  • CHATTAHOOCHEE COUNTY SCHOOLS

    EDUCATION · GA

  • CHICKAMAUGA CITY SCHOOLS

    EDUCATION · GA

  • CITY SCHOOLS OF DECATUR

    EDUCATION · GA

  • CLARKE COUNTY SCHOOLS

    EDUCATION · GA

  • COLQUITT COUNTY SCHOOLS

    EDUCATION · GA

  • COMMERCE CITY SCHOOLS

    EDUCATION · GA

  • DADE COUNTY SCHOOLS

    EDUCATION · GA

  • DALTON PUBLIC SCHOOLS

    EDUCATION · GA

  • DAWSON COUNTY SCHOOLS

    EDUCATION · GA

  • DODGE COUNTY SCHOOLS

    EDUCATION · GA

  • DOOLY COUNTY SCHOOLS

    EDUCATION · GA

  • DOUGLAS COUNTY SCHOOLS

    EDUCATION · GA

  • ECHOLS COUNTY SCHOOLS

    EDUCATION · GA

  • ELBERT COUNTY SCHOOLS

    EDUCATION · GA

  • EMANUEL COUNTY SCHOOLS

    EDUCATION · GA

  • FAYETTE COUNTY SCHOOLS

    EDUCATION · GA

  • FLOYD COUNTY SCHOOLS

    EDUCATION · GA

  • GILMER COUNTY SCHOOLS

    EDUCATION · GA

  • GLYNN COUNTY SCHOOLS

    EDUCATION · GA

  • GRIFFIN SPALDING COUNTY SCHOOLS

    EDUCATION · GA

  • GSBA

    PROVIDES LEADERSHIP, ADVOCACY AND SERVICES TO LOCAL SCHOOL SYSTEMS. · GA

  • HABERSHAM COUNTY SCHOOLS

    EDUCATION · GA

  • HARALSON COUNTY SCHOOLS

    EDUCATION · GA

  • HART COUNTY SCHOOLS

    EDUCATION · GA

  • HEARD COUNTY SCHOOLS

    EDUCATION · GA

  • JACKSON COUNTY SCHOOLS

    EDUCATION · GA

  • JASPER COUNTY SCHOOLS

    EDUCATION · GA

  • JEFF DAVIS COUNTY SCHOOLS

    EDUCATION · GA

  • JEFFERSON CITY SCHOOLS

    EDUCATION · GA

  • LAMAR COUNTY SCHOOLS

    EDUCATION · GA

  • LINCOLN COUNTY SCHOOLS

    EDUCATION · GA

  • LONG COUNTY SCHOOLS

    EDUCATION · GA

  • LUMPKIN COUNTY SCHOOLS

    EDUCATION · GA

  • MACON COUNTY SCHOOLS

    EDUCATION · GA

  • MARIETTA CITY SCHOOLS

    EDUCATION · GA

  • MERIWETHER COUNTY SCHOOLS

    EDUCATION · GA

  • MITCHELL COUNTY SCHOOLS

    EDUCATION · GA

  • MORGAN COUNTY SCHOOLS

    EDUCATION · GA

  • MUSCOGEE COUNTY SCHOOLS

    EDUCATION · GA

  • NORTHEAST GA RESA

    EDUCATION · GA

  • NORTHWEST GA RESA

    EDUCATION · GA

  • OCONEE COUNTY SCHOOLS

    EDUCATION · GA

  • OGLETHORPE COUNTY SCHOOLS

    EDUCATION · GA

  • PAULDING COUNTY SCHOOLS

    EDUCATION · GA

  • PIERCE COUNTY SCHOOLS

    EDUCATION · GA

  • PUTNAM COUNTY SCHOOLS

    EDUCATION · GA

  • QUITMAN COUNTY SCHOOLS

    EDUCATION · GA

  • RABUN COUNTY SCHOOLS

    EDUCATION · GA

  • SCREVEN COUNTY SCHOOLS

    EDUCATION · GA

  • SEMINOLE COUNTY SCHOOLS

    EDUCATION · GA

  • SOCIAL CIRCLE CITY SCHOOLS

    EDUCATION · GA

  • STEPHENS COUNTY SCHOOLS

    EDUCATION · GA

  • TATTNALL COUNTY SCHOOLS

    EDUCATION · GA

  • TAYLOR COUNTY SCHOOLS

    EDUCATION · GA

  • TIFT COUNTY SCHOOLS

    EDUCATION · GA

  • TOOMBS COUNTY SCHOOLS

    EDUCATION · GA

  • TOWNS COUNTY SCHOOLS

    EDUCATION · GA

  • TRION CITY SCHOOLS

    EDUCATION · GA

  • TURNER COUNTY SCHOOLS

    EDUCATION · GA

  • UNION COUNTY SCHOOLS

    EDUCATION · GA

  • VALDOSTA CITY SCHOOLS

    EDUCATION · GA

  • WAYNE COUNTY SCHOOLS

    EDUCATION · GA

  • WEBSTER COUNTY SCHOOLS

    EDUCATION · GA

  • WHEELER COUNTY SCHOOLS

    EDUCATION · GA

  • WHITE COUNTY SCHOOLS

    EDUCATION · GA

  • WHITFIELD COUNTY SCHOOLS

    EDUCATION · GA

  • WORTH COUNTY SCHOOLS

    EDUCATION · GA

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202443199349313124

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