California Self-Insurers' Security Fund

Legal name: Self-insurers' Security Fund

Nonprofit profile at a glance

EIN
680049924
IRS 990 coverage
2009–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Oakland, CA, US
Phone
(510) 879-6035
Rating confidence
Limited

Official website

Reported finances

Revenue
$80,659,578
Expenses
$54,811,151
Assets
$905,651,511
Liabilities
$117,971,074

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

Leadership & pay

11 people listed

Highest reported compensation

  • GRANT HEINTZ (DIRECTOR, MEMBER CREDIT RISK): $204,631 total reported compensation
  • ADRIANA MERTINAK (DIRECTOR OF FINANCE): $200,489 total reported compensation
  • JILL DULICH (DIRECTOR, CLAIMS AND OPERATIONS): $167,355 total reported compensation

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

Overview

Mission

To ensure the continuity of workers' compensation benefits of self-insured companies that have defaulted on their workers' compensation obligations – usually due to bankruptcy.

What it reported doing in 2024

Alternative security program assessments - self-insured corporations meeting certain minimum credit quality standards are assessed annual fees for participation in the asp program in lieu of posting a security deposit. The asp program provides protection to self-insured employers in the case of any future defaults. Sisf uses the assessments to provide funds for any future defaults and to purchase catastrophe coverage/hedge instruments for certain loss exposures associated with the program.

Operating model

Revenue model
Investment-supported. 79% 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: 76
  • Accountability: 95
  • Sustainability: 89
  • 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; 68th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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; 77th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 32%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 16.52; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 78; 78th percentile among comparable filings
  • Officer compensation ratio: 1.1%; rating input score 73; 73rd percentile among comparable filings

Growth

  • Program expense growth: 275.4% per year; rating input score 100; 100th percentile among comparable filings
  • Revenue growth: -2.9% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 6.4% per year; rating input score 100; 47th percentile among comparable filings

Details

  • What they do: 2 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 8 of 8 board members independent · 8 of 9 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $205K · 11 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.1M reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.