On its IRS Form 990 tax return for 2011 (for the calendar year ending December 31, 2011) the WCIRB failed to identify William (Bill) Mudge, WCIRB’s new president effective December 19, 2011, as its principal officer. Instead, it listed Robert G. Mike, who was acknowledged in the WCIRB Annual Report for 2011 as having retired effective December 1, 2011, as its principal officer.
The WCIRB did not include Mr. Mudge in its listings of current officers in Part VII nor in Schedule 3 (Compensation Information). The WCIRB failed to identify some officers it did list as “Former” officers (based on the retirement information it reported in its Annual Report for 2011). The IRS Form 990 readily accommodates transitions within organizations and specifically requires the listing of current and former officers within the tax year.
The WCIRB wasn't in a rush its tax return. It had filed for an extension to file its tax return and waited until November 2012 to actually file.
While William Mudge’s late start date in 2011 may have limited the amount of regular compensation he received it did not preclude it, including the opportunity for many of the payment types subject to reporting on the tax return.
Though William Mudge has been reported to be an Eagle Scout he apparently does not have an eagle eye with regard to the WCIRB’s tax returns.
The WCIRB expects its member insurance companies to report correctly yet it failed in its own reporting.
The WCIRB expects its member insurance companies to report correctly yet it failed in its own reporting.
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