South Bergen Region Vii Workers Compensation Pool

Nonprofit profile at a glance

EIN
222470958
IRS 990 coverage
2016–2019
Forms available
Form 990 2019
Location
Rutherford, NJ, USA
Phone
2019916800
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$2,195,834
Expenses
$1,122,415
Assets
$14,818,446
Liabilities
$6,670,024

Source: IRS Form 990. Selected filing: tax year 2019. Amounts in USD.

Leadership & pay

7 people listed

Highest reported compensation

  • PHIL NISONOFF (TREASURER): $4,000 total reported compensation
  • JOSEPH KELLY (CHAIRPERSON): $1,200 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2019. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

South bergen region vii is a self-administered workers compensation liability pool established under nj statute 18a: 18a-42. The pool provides insurance coverage for the employees of participating school boards.

What it reported doing in 2019

South bergen region vii is a self-administered workers compensation liability pool established under nj statutes 18a: 18a-42. The pool provides insurance coverage for the employees of participating school boards.

Operating model

Revenue model
Earned-program. 89% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 79% of its reported program spending for member benefits.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 56
  • Transparency & Controls: 83
  • Accountability: 100
  • Sustainability: 85
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 44%; rating input score 44
  • Program expense ratio: 96.5%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 8th 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: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 48.9%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 13.2; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.45; rating input score 29; 29th percentile among comparable filings
  • Officer compensation ratio: 0.5%; rating input score 84; 84th percentile among comparable filings

Growth

  • Program expense growth: -18.1% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: 5% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: 5.1% per year; rating input score 100; 47th percentile among comparable filings

Details

  • Where the money goes: 44% of revenue deployed · 96.5% of spending went to programs
  • Governance: 7 of 7 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $4K · 7 people listed
  • Highest-paid contractors: 1 contractor listed · $150K reported
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 4 filing years from 2016 to 2019
  • Contacts: How to reach this organization
  • Money network: 2 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.

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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 44/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 29/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.