Is New Jersey Surplus Lines Insurance Guaranty Fund Legit?
Quick charity verification for New Jersey Surplus Lines Insurance Guaranty Fund (EIN: 222603627)
Verdict: New Jersey Surplus Lines Insurance Guaranty Fund has notable concerns
20/100Mission Score
$6.1MRevenue
$8.8MAssets
4Red Flags
2Strengths
Red Flags
Extremely low program spending relative to total expenses and assets (e.g., $6,868 in program expenses vs. $52,113 in total expenses in 2023).
Significant administrative expenses without clear justification for their magnitude given the limited program activity.
Lack of clear mission statement or program details in the provided data.
Large asset base ($8,786,220 in 2023) with minimal apparent charitable output.
Strengths
Maintains a substantial asset base, indicating financial stability.
Consistent financial reporting over several years.
AI Transparency Report
New Jersey Surplus Lines Insurance Guaranty Fund is a unknown nonprofit based in Basking Ridge, New Jersey, with reported revenue of $6.1M and assets of $8.8M. Our AI analysis assigns a Mission Score of 20/100 (Poor). Approximately 1% of spending goes to programs, 99% to administration, and 0% to fundraising. • The organization's primary function appears to be maintaining a fund rather than active program delivery. • Financial filings show consistent administrative expenses relative to minimal program spending. • Transparency regarding the specific use of administrative funds is limited. Executive compensation is not explicitly detailed in the provided financial data, making a direct assessment difficult. Revenue has grown +305% across 13 filing periods.