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.
Spending Breakdown
How New Jersey Surplus Lines Insurance Guaranty Fund allocates its funds across programs, administration, and fundraising.
1%
Program Spending
Concerning — less than half to programs
99%
Admin Costs
High — over 25% on administration
0%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about New Jersey Surplus Lines Insurance Guaranty Fund
Is New Jersey Surplus Lines Insurance Guaranty Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, New Jersey Surplus Lines Insurance Guaranty Fund (EIN: 222603627) has notable concerns. Mission Score: 20/100. 4 red flags identified, 2 strengths noted.
Is New Jersey Surplus Lines Insurance Guaranty Fund a good charity to donate to?
New Jersey Surplus Lines Insurance Guaranty Fund has a Mission Score of 20/100. Revenue: $6.1M. Assets: $8.8M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for New Jersey Surplus Lines Insurance Guaranty Fund?
The Employer Identification Number (EIN) for New Jersey Surplus Lines Insurance Guaranty Fund is 222603627. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does New Jersey Surplus Lines Insurance Guaranty Fund spend its money?
New Jersey Surplus Lines Insurance Guaranty Fund allocates 1% to programs, 99% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify New Jersey Surplus Lines Insurance Guaranty Fund's tax-exempt status?
You can verify New Jersey Surplus Lines Insurance Guaranty Fund's tax-exempt status using EIN 222603627 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
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.