New Jersey Surplus Lines Insurance Guaranty Fund
NJ Surplus Lines Guaranty Fund: High Assets, Minimal Program Spending
EIN: 222603627 · Basking Ridge, NJ · Updated: 2026-04-04
Is New Jersey Surplus Lines Insurance Guaranty Fund Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
New Jersey Surplus Lines Insurance Guaranty Fund directs 1% of its spending to programs. This falls below the 65% benchmark. Donors may want to investigate further.
About New Jersey Surplus Lines Insurance Guaranty Fund
New Jersey Surplus Lines Insurance Guaranty Fund (EIN: 222603627) is a nonprofit organization based in Basking Ridge, NJ. The organization reported total revenue of $6.1M and total assets of $8.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New Jersey Surplus Lines Insurance Guaranty Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates New Jersey Surplus Lines Insurance Guaranty Fund with a Mission Score of 20 out of 100 (Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 99%
- programs: 1%
- fundraising: 0%
According to IRS 990 filings, New Jersey Surplus Lines Insurance Guaranty Fund allocates its expenses as follows: admin: 99%, programs: 1%, fundraising: 0%. Only 1% is directed toward programs, which may warrant further investigation by donors.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided financial data, making a direct assessment difficult.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of New Jersey Surplus Lines Insurance Guaranty Fund's IRS 990 filings:
- 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
The following positive indicators were identified for New Jersey Surplus Lines Insurance Guaranty Fund:
- Maintains a substantial asset base, indicating financial stability.
- Consistent financial reporting over several years.
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) significant concerns. Mission Score: 20/100. 4 red flags identified, 2 strengths noted.
How does New Jersey Surplus Lines Insurance Guaranty Fund spend its money?
New Jersey Surplus Lines Insurance Guaranty Fund directs 1% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to New Jersey Surplus Lines Insurance Guaranty Fund tax-deductible?
New Jersey Surplus Lines Insurance Guaranty Fund is registered as a tax-exempt nonprofit (EIN: 222603627). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does New Jersey Surplus Lines Insurance Guaranty Fund do?
New Jersey Surplus Lines Insurance Guaranty Fund is a nonprofit organization in the Unknown sector, located in Basking Ridge, New Jersey. It is classified under NTEE code Unknown.
How much revenue does New Jersey Surplus Lines Insurance Guaranty Fund have?
New Jersey Surplus Lines Insurance Guaranty Fund reported total revenue of $6,096,712. Based on 13 IRS 990 filings on record.
What are New Jersey Surplus Lines Insurance Guaranty Fund's total assets?
New Jersey Surplus Lines Insurance Guaranty Fund holds total assets of $8,786,220 as reported in IRS 990 filings.
Where is New Jersey Surplus Lines Insurance Guaranty Fund located?
New Jersey Surplus Lines Insurance Guaranty Fund is based in Basking Ridge, New Jersey.
What is New Jersey Surplus Lines Insurance Guaranty Fund's EIN?
New Jersey Surplus Lines Insurance Guaranty Fund's Employer Identification Number (EIN) is 222603627. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is New Jersey Surplus Lines Insurance Guaranty Fund?
New Jersey Surplus Lines Insurance Guaranty Fund is classified under NTEE code Unknown (Unknown).
Is New Jersey Surplus Lines Insurance Guaranty Fund a registered 501(c)(3)?
New Jersey Surplus Lines Insurance Guaranty Fund appears in IRS records (EIN: 222603627). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does New Jersey Surplus Lines Insurance Guaranty Fund file IRS Form 990?
Yes, New Jersey Surplus Lines Insurance Guaranty Fund has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was New Jersey Surplus Lines Insurance Guaranty Fund's revenue in 2023?
In the 202312 filing period, New Jersey Surplus Lines Insurance Guaranty Fund reported total revenue of $482,063, total expenses of $52,113, and net assets of $8,497,664.
Is New Jersey Surplus Lines Insurance Guaranty Fund's revenue growing or declining?
New Jersey Surplus Lines Insurance Guaranty Fund's revenue is growing. Revenue went from $69,463 (202212) to $482,063 (202312), a +594.0% change. Based on 13 filings on record.
What is New Jersey Surplus Lines Insurance Guaranty Fund's most recent 990 filing?
The most recent IRS Form 990 filing for New Jersey Surplus Lines Insurance Guaranty Fund covers tax period 202312. It shows revenue of $482,063, expenses of $52,113, total assets of $8,497,664, and liabilities of $6,868.
How much does New Jersey Surplus Lines Insurance Guaranty Fund spend on programs vs administration?
Based on IRS 990 analysis, New Jersey Surplus Lines Insurance Guaranty Fund allocates approximately 1% of expenses to program services, 99% to administrative costs, and 0% to fundraising. Overhead costs appear high relative to program spending.
Is New Jersey Surplus Lines Insurance Guaranty Fund a trustworthy charity?
Based on AI analysis of IRS 990 data, New Jersey Surplus Lines Insurance Guaranty Fund has notable concerns. Mission Score: 20/100 (Poor). 4 red flags identified. 2 strengths noted.
What are the red flags for New Jersey Surplus Lines Insurance Guaranty Fund?
The following concerns were identified: 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.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are New Jersey Surplus Lines Insurance Guaranty Fund's strengths?
Positive indicators for New Jersey Surplus Lines Insurance Guaranty Fund include: Maintains a substantial asset base, indicating financial stability.. Consistent financial reporting over several years.. These findings are derived from AI analysis of the organization's financial filings.
How does New Jersey Surplus Lines Insurance Guaranty Fund compensate executives?
Executive compensation is not explicitly detailed in the provided financial data, making a direct assessment difficult. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is New Jersey Surplus Lines Insurance Guaranty Fund?
• 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. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
Given the organization's name and financial structure, what specific 'surplus lines insurance' activities or benefits does it provide to the public or its beneficiaries, beyond simply holding funds?
The data suggests the organization primarily functions as a guaranty fund, likely holding assets to protect policyholders in case of insurer insolvency. However, the specific mechanisms of this protection and any direct public benefits are not detailed in the provided financial figures, which show very low program expenses.
With administrative expenses consistently dwarfing program expenses (e.g., $52,113 admin vs. $6,868 program in 2023), what are the primary components of these administrative costs, and how do they directly support the organization's stated purpose?
The financial data does not break down administrative expenses. Without further detail, it's difficult to ascertain if these costs are for essential oversight, legal compliance, asset management, or other operational necessities for a guaranty fund. The disproportionate ratio raises questions about efficiency.
Filing History
IRS 990 filing history for New Jersey Surplus Lines Insurance Guaranty Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), New Jersey Surplus Lines Insurance Guaranty Fund's revenue has grown by 304.5%, moving from $119K to $482K. Total assets decreased by 16% over the same period, from $10.1M to $8.5M. Total functional expenses fell by 89.5%, from $496K to $52K. In its most recent filing year (2023), New Jersey Surplus Lines Insurance Guaranty Fund reported a surplus of $430K, with revenue exceeding expenses. The organization holds $7K in liabilities against $8.5M in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $8.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $482K | $52K | $8.5M | $7K | — | — |
| 2022 | $69K | $52K | $8.1M | $3K | — | View 990 |
| 2021 | $74K | $57K | $8.0M | $6K | — | View 990 |
| 2020 | $117K | $43K | $8.0M | $1K | — | — |
| 2019 | $1.1M | $146K | $8.0M | $1K | — | View 990 |
| 2018 | $3.0M | $117K | $7.0M | $9K | — | View 990 |
| 2017 | $96K | $8.2M | $4.1M | $6K | — | View 990 |
| 2016 | $114K | $90K | $12.2M | $1K | — | View 990 |
| 2015 | $1.1M | $109K | $12.2M | $38K | — | View 990 |
| 2014 | $122K | $53K | $11.2M | $10K | — | View 990 |
| 2013 | $1.1M | $46K | $11.1M | $7K | — | View 990 |
| 2012 | $75K | $101K | $10.1M | $6K | — | View 990 |
| 2011 | $119K | $496K | $10.1M | $3K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $482K, expenses of $52K, and assets of $8.5M (revenue +594.0% year-over-year).
- 2022: Revenue of $69K, expenses of $52K, and assets of $8.1M (revenue -6.7% year-over-year).
- 2021: Revenue of $74K, expenses of $57K, and assets of $8.0M (revenue -36.4% year-over-year).
- 2020: Revenue of $117K, expenses of $43K, and assets of $8.0M (revenue -89.5% year-over-year).
- 2019: Revenue of $1.1M, expenses of $146K, and assets of $8.0M (revenue -62.2% year-over-year).
- 2018: Revenue of $3.0M, expenses of $117K, and assets of $7.0M (revenue +2984.6% year-over-year).
- 2017: Revenue of $96K, expenses of $8.2M, and assets of $4.1M (revenue -16.1% year-over-year).
- 2016: Revenue of $114K, expenses of $90K, and assets of $12.2M (revenue -90.1% year-over-year).
- 2015: Revenue of $1.1M, expenses of $109K, and assets of $12.2M (revenue +838.8% year-over-year).
- 2014: Revenue of $122K, expenses of $53K, and assets of $11.2M (revenue -88.4% year-over-year).
- 2013: Revenue of $1.1M, expenses of $46K, and assets of $11.1M (revenue +1303.5% year-over-year).
- 2012: Revenue of $75K, expenses of $101K, and assets of $10.1M (revenue -36.8% year-over-year).
- 2011: Revenue of $119K, expenses of $496K, and assets of $10.1M.
Data Sources and Methodology
This transparency report for New Jersey Surplus Lines Insurance Guaranty Fund is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.