New Jersey Underwriting Association Retiree Medical Trust

Nonprofit profile at a glance

EIN
465297603
IRS 990 coverage
2015–2025
Forms available
Form 990 2025
Location
Newark, NJ, USA
Phone
9737186022
Rating confidence
Limited
Sector
Insurance Providers

Reported finances

Revenue
$163,440
Expenses
$210,991
Assets
$4,974,641
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

3 people listed

People named in this filing

  • MICHAEL LOSAVIO (DIRECTOR)
  • JENNIFER PEAKS (DIRECTOR)
  • STEVE MUTTERPERL (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The purpose of the New Jersey underwriting association retiree medical trust (the "trust") is to provide a welfare benefits plan for all eligible retirees, as well as their dependents, of the New Jersey insurance underwriting association (the "association"). The icso group health and welfare insurance plan (the "plan") provides payments and reimbursements of qualified medical premiums and expenses incurred by the participants. The payments are for qualifying medical care expenses, defined by section 213(d)(1) of the code, or medical insurance coverage. Membership benefits from the plan are not limited to officers, shareholders, or highly compensated employees. The appointed trustees will be responsible for the managing of the fund.

What it reported doing in 2025

Provide welfare benefits plan for eligible retirees, as well as their dependents, of the New Jersey insurance underwriting association. In 2025, there were 43 participants which were compromised of 35 retirees and 8 spouses.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
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: 70
  • Sustainability: 49
  • Growth: 60

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; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -29.1%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 23.58; rating input score 96; 96th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 1% per year; rating input score 100; 32nd percentile among comparable filings
  • Revenue growth: -21.3% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 5.4% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 3 of 3 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 1 filed schedules
  • Filing history: 11 filing years from 2015 to 2025
  • Contacts: How to reach this organization
  • 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.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Operating margin scored 8/100.
  • High — Growth: Revenue growth scored 0/100.