Mississippi Workers Compensation Individual Self-insurer Guaranty Asso

Nonprofit profile at a glance

EIN
581914219
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Jackson, MS, USA
Phone
6016314252
Rating confidence
Limited
Sector
Insurance Providers

Reported finances

Revenue
$156,980
Expenses
$-30,367
Assets
$1,622,500
Liabilities
$345,012

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • JAMES W SNIDER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JAMES W SNIDER (EXECUTIVE DIRECTOR): $88,812 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide a mechanism for the payment of covered claims under the workers compensation law, avoid excessive delay in payment and to avoid financial loss to claimants because of the insolvency of the self-insurer, to assist in preventation of s/i insolvencies.

What it reported doing in 2024

The organization continued to administer and pay covered claims for defaulted member yellow freight/roadway express and successfully resolved and closedmultiple claims.

Operating model

Revenue model
Donor-supported. 62% of the money available for current operations came from contributions and gifts.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 90
  • Accountability: 90
  • Sustainability: 2
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: Limited
  • Total-asset coverage ratio: Limited
  • Liabilities to assets ratio: 0.21; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -40.4% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: -21.6% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -2.6% per year; rating input score 0; 16th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $89K · 8 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 7 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Sustainability: Liabilities to assets ratio scored 19/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.