Self Insurers Security Fund
501(c)(6)
78% goes to programs Strong reserves
Self Insurers Security Fund is a 501(c)(6) organization based in Oakland, California, registered in 1985, with $76,613,039 in FY2023 revenue. CharityIndex grades it A, and it directs about 78% of spending to programs.
555 12th St Ste 680, Oakland, CA, 94607 EIN 68-0049924 Since 1985
Revenue (FY2023)
$76.6M
▲ 154.1% vs prior year
Expenses (FY2023)
$54.2M
Net assets
$761.3M
Employees
5
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
B+Program efficiency40% of the rating78% to programs
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Self Insurers Security Fund: 78% to programs earns a B+ on this criterion. See the exact thresholds →
B+Financial health25% of the rating168 mo reserves · +29% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Self Insurers Security Fund: 168 mo reserves · +29% margin earns a B+ on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Self Insurers Security Fund: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Self Insurers Security Fund: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
See schedule o
What they do
Security deposits and recoveries - sisf receives revenue from surety bonds and deposits when the organization assumes, as stipulated in the labor code, the responsibility to administer the funds necessary to pay workers' compensation obligations against an insolvent self-insurer.
Contact & location
- Address
- 555 12th St Ste 680, Oakland, CA, 94607
- City
- Oakland
- State
- California
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $58.1M (FY2013) to $76.6M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $94.1MNet assets $761.3M
Operating margin
29.2%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$855.5M
Total liabilities
$94.1M
Net assets
$761.3M
Salaries & benefits
$901K
2% of expenses
Board members
7
7 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $76,613,039▲154% | $54,236,411▲891% | $761,322,618▲10.1% | $855,452,206▲14.6% | 990 |
| 2022 | $30,148,061▼48.7% | $5,474,810▼25.2% | $691,459,727▲10.2% | $746,398,766▲7.8% | 990 |
| 2021 | $58,713,916▼19.8% | $7,322,616▼54.9% | $627,301,055▼10.9% | $692,448,736▼11.6% | 990 |
| 2020 | $73,239,633▲118% | $16,219,243▲77.1% | $703,973,245▲29.6% | $783,094,519▲26.1% | 990 |
| 2019 | $33,657,217▼48.9% | $9,158,182▼26.1% | $543,119,762▲7.8% | $621,157,766▲4.4% | 990 |
| 2018 | $65,844,772▲2.5% | $12,398,561▲9.7% | $503,658,841▲15.7% | $594,777,287▲9.5% | 990 |
| 2017 | $64,252,501▼35.6% | $11,297,212▲284% | $435,482,502▲17.1% | $543,054,642▲6.9% | 990 |
| 2016 | $99,799,642▲22.6% | -$6,142,584▼117% | $371,745,531▲30.3% | $507,864,413▲4.5% | 990 |
| 2015 | $81,377,479▲13.3% | $37,105,501▲98.1% | $285,224,825▲16.5% | $486,132,958▲5.8% | 990 |
| 2014 | $71,840,714▲23.7% | $18,729,012▲215% | $244,847,718▲17.5% | $459,451,758▼5.1% | 990 |
| 2013 | $58,070,012 | -$16,223,283▼110% | $208,428,956▲77.4% | $484,384,283▼0.4% | 990 |
| 2012 | — | $165,130,150▲26668% | $117,513,024 | $486,523,335▲32.1% | 990 |
| 2011 | — | $616,905▼99.7% | $117,507,236▲89.3% | $368,235,198▼3.7% | 990 |
| 2010 | — | $213,614,637▲383% | $62,090,227▼58.8% | $382,315,477▲38.3% | 990 |
| 2009 | — | $44,222,701 | $150,806,345 | $276,457,674 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Grant Heinitz — $195,871 (0.36% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Grant Heinitz | Director, Member Credit Risk | 40 | $195,871 |
| Adriana Mertinak | Director of Finance | 40 | $160,200 |
| Jill Dulich | Director, Claims and Operation | 32 | $152,802 |
| William Lyons | Chairperson | 1 | $1,800 |
| Tim East | Trustee | 0 | $900 |
| John Smolk | Treasurer | 1 | $700 |
| Ed Hall | Trustee | 0 | — |
| Martin King | Trustee | 0 | — |
| Stacy Bratcher | Trustee | 0 | — |
| Toni Allen | Trustee | 0 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Marsh USA Inc | Consulting | $1,331,492 |
| Nixon Peabody LLP | Legal | $816,662 |
| Charles Taylor Tpa | Tpa | $497,602 |
| Tristar Risk Management | Tpa | $483,511 |
| Bdo | Audit and Tax | $203,505 |
Frequently asked questions
- Is Self Insurers Security Fund a legitimate nonprofit?
- Yes. Self Insurers Security Fund is a 501(c)(6) organization registered with the U.S. Internal Revenue Service under EIN 68-0049924, based in Oakland, California.
- What is Self Insurers Security Fund's EIN?
- Self Insurers Security Fund's Employer Identification Number (EIN) is 68-0049924.
- How much revenue does Self Insurers Security Fund report?
- Self Insurers Security Fund reported $76,613,039 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Self Insurers Security Fund's spending goes to programs?
- Self Insurers Security Fund spends about 78% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Self Insurers Security Fund have?
- CharityIndex grades Self Insurers Security Fund A, based on program efficiency and fundraising cost.
- How much does Self Insurers Security Fund's highest-paid employee make?
- The highest reported compensation on Self Insurers Security Fund's latest Form 990 is $195,871, paid to Grant Heinitz (Director, Member Credit Risk).
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Data for Self Insurers Security Fund (EIN 68-0049924) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.