Is The Selective Insurance Group Foundation Legit?
Quick charity verification for The Selective Insurance Group Foundation (EIN: 203539039)
Verdict: The Selective Insurance Group Foundation appears trustworthy
70/100Mission Score
$1.0MRevenue
$270KAssets
3Red Flags
3Strengths
Red Flags
Significant and recurring deficits in recent years (e.g., 2023 expenses of $967,942 vs. revenue of $10,000; 2022 expenses of $714,887 vs. revenue of $259,000).
Highly volatile revenue streams, making financial planning and sustainability challenging.
Sharp decline in assets from $1,449,373 in 2021 to $35,425 in 2023, indicating substantial asset utilization or losses.
Strengths
Consistent 0% officer compensation across all reported years, indicating efficient use of funds for leadership.
Long history of IRS 990 filings (10 filings), demonstrating a commitment to transparency.
Significant revenue generation in some years (e.g., $1,282,000 in 2019, $1,262,100 in 2021), showing capacity for substantial funding.
Spending Breakdown
How The Selective Insurance Group Foundation allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
5%
Admin Costs
Reasonable — admin costs in check
5%
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 The Selective Insurance Group Foundation
Is The Selective Insurance Group Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, The Selective Insurance Group Foundation (EIN: 203539039) appears trustworthy. Mission Score: 70/100. 3 red flags identified, 3 strengths noted.
Is The Selective Insurance Group Foundation a good charity to donate to?
The Selective Insurance Group Foundation has a Mission Score of 70/100. Revenue: $1.0M. Assets: $270K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for The Selective Insurance Group Foundation?
The Employer Identification Number (EIN) for The Selective Insurance Group Foundation is 203539039. 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 The Selective Insurance Group Foundation spend its money?
The Selective Insurance Group Foundation allocates 90% to programs, 5% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify The Selective Insurance Group Foundation's tax-exempt status?
You can verify The Selective Insurance Group Foundation's tax-exempt status using EIN 203539039 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
The Selective Insurance Group Foundation exhibits a fluctuating financial profile, with significant variations in revenue and expenses over the past decade. For instance, in 2023, the organization reported a revenue of $10,000 against expenses of $967,942, indicating a substantial deficit. This contrasts sharply with 2021, where revenue was $1,262,100 and expenses were $545,475, showing a healthy surplus. The foundation's assets have also seen considerable swings, from a high of $1,449,373 in 2021 to a low of $35,425 in 2023. These fluctuations suggest an inconsistent funding model or significant changes in operational scale year-to-year.
Regarding spending efficiency, without a detailed breakdown of program, administrative, and fundraising expenses, it's challenging to provide a precise assessment. However, the consistent reporting of 0% officer compensation across all available filings is a strong indicator of efficient use of funds in terms of executive overhead. The substantial expenses relative to revenue in some years, such as 2023, raise questions about the sustainability of their financial model if such trends continue.
In terms of transparency, the consistent filing of IRS Form 990s over a decade demonstrates a commitment to public disclosure. The absence of officer compensation is a positive transparency signal, as it indicates that leadership is not drawing salaries from the foundation's funds. However, a more detailed breakdown of expenses within the 990s would further enhance transparency regarding how funds are allocated across different activities.