Self-Insurers' Security Fund FY2020 filing

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To provide continuity of workers' compensation benefits to injured workers of insolvent, private Self-insured companies at the lowest overall long-term cost, equitably distributed to the Self-insurance community.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
$435K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Pay: Part VII

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $34.3M a year · 58% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Pay to officers and key staff
$435K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
26 mo
of spending, in cash
Plus $573.4M in investments, Pt X · Ln 11–13
Looks good: 25.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$78.0M
13% of total assets
Looks good: liabilities are 13% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$33.7M
Spent
$9.2M
Net assets
$543.1M
By yearFY2020–FY2025
Revenue
$33.7M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$33.7M
FY2021$73.2M
FY2022$58.7M
FY2023$30.1M
FY2024$76.6M
FY2025$80.7M
Expenses
$9.2M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$9.2M
FY2021$16.2M
FY2022$7.3M
FY2023$5.5M
FY2024$54.2M
FY2025$54.8M
Net assets
$543.1M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$543.1M
FY2021$704.0M
FY2022$627.3M
FY2023$691.5M
FY2024$761.3M
FY2025$787.7M

From the FY2020 Form 990 (year ending June 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 1985.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

10 people listed on the 990; $435K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Risk Manager
$164,274Pt VII · Sec A
$140,806Pt VII · Sec A
Claims and Ops. Manager
$125,616Pt VII · Sec A
$1,800Pt VII · Sec A
Trustee
$1,300Pt VII · Sec A
Chairperson and Treasurer
$1,200Pt VII · Sec A
$0Pt VII · Sec A
Director/Delegate
$0Pt VII · Sec A

Compensation history total reportable pay by year · 7 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Grant Heintz$204,631—————
Adriana Mertinak$200,489$160,200$166,036$166,036$155,000$140,806
Grant Heinitz—$195,871$185,610$180,554$165,152$164,274
Jill Dulich$167,355$152,802$138,596$138,596$129,384$125,616
William Lyons$1,900$1,800$2,300$2,300$1,800$1,800
John Smolk$1,000$700$1,200$1,200$2,300$1,300
Tim East$600$900———$1,200

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Self-Insurers' Security Fund executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Self-Insurers' Security Fund is a business league or trade association based in Oakland, CA, formed in 1984.

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2 programs · in their own filed words · FY2019
01

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.

Pt IX · col B
02

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.

Pt IX · col B

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$33.7M
Ln 12
Fees for servicesLn 2g$20.1M
Investment incomeLn 3$13.5M
Money outPt IX
$9.2M
Ln 25
Owns and owesPt X
$543.1M
net assets · Ln 32
Cash and savingsLn 1–2$19.7M
Total assetsLn 16$621.2M
LiabilitiesLn 26$78.0M
PeoplePt VI, VII
10
listed · VII A
PaidVII A6
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$20.1M
Investment incomeLn 3$13.5M
Gains on assetsLn 7$3.9M
Total revenueLn 12$33.7M
Assets in detailPt X, end of year
CashLn 1$19.7M
SavingsLn 2$0
Cash and savings togetherLn 1–2$19.7M
InvestmentsLn 11–13$573.4M
Land, buildings, equipmentLn 10c$35K
Other assetsLn 15$25.9M
Total assetsLn 16$621.2M
LiabilitiesLn 26$78.0M
Net assetsLn 32$543.1M
OperationsPt I, VI
EmployeesI 55
VolunteersI 68
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$34.2M$19.7M
InvestmentsLn 11–13$529.7M$573.4M
Land, buildings, equipmentLn 10c$56K$35K
Total assetsLn 16$594.8M$621.2M
LiabilitiesLn 26$91.1M$78.0M
Net assetsLn 32$503.7M$543.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$173K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$421K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$101K
Payroll taxesLn 10$43K
Management feesLn 11a$0
Legal feesLn 11b$871K
Accounting feesLn 11c$199K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$1.2M
Other fees for servicesLn 11g$493K
Advertising and promotionLn 12$0
Office expensesLn 13$84K
Information technologyLn 14$159K
RoyaltiesLn 15$0
OccupancyLn 16$211K
TravelLn 17$2K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$34K
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$24K
InsuranceLn 23$174K
Other expenses (24a–d)Ln 24$4.9M
All other expensesLn 24e$60K
Total functional expensesLn 25$9.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $80.7M$54.8M$25.8M$787.7M 990 PDF
FY2024 $76.6M$54.2M$22.4M$761.3M 990 PDF
FY2023 $30.1M$5.5M$24.7M$691.5M 990 PDF
FY2022 $58.7M$7.3M$51.4M$627.3M 990 PDF
FY2021 $73.2M$16.2M$57.0M$704.0M 990 PDF
FY2020 Viewing $33.7M$9.2M$24.5M$543.1M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $33,657,217 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $48,785,532$20,118,668
I-10 Investment incomePrior year $17,059,240$13,538,549
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $65,844,772$33,657,217
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $670,427$737,082
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $11,728,134$8,421,100
I-18 Total expensesPrior year $12,398,561$9,158,182
I-19 Revenue less expensesPrior year $53,446,211$24,499,035
Part VI · Governance 7 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $33,657,217 across 8 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $20,118,668$20,118,668
VIII-3 Investment incomeExcluded from tax $9,650,963$9,650,963
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsRelated to mission $3,887,586$3,887,586
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $24,006,254 · Excluded from tax $9,650,963$33,657,217
Part IX · Statement of functional expenses $9,158,182 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$172,673
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$420,769
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$101,078
IX-10 Payroll taxes$42,562
IX-11a Management fees$0
IX-11b Legal fees$871,406
IX-11c Accounting fees$198,501
IX-11d Lobbying fees$0
IX-11f Investment management fees$1,162,125
IX-11g Other fees for services$492,550
IX-12 Advertising and promotion$0
IX-13 Office expenses$84,391
IX-14 Information technology$158,960
IX-15 Royalties$0
IX-16 Occupancy$210,741
IX-17 Travel$2,209
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$34,001
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$24,177
IX-23 Insurance$173,982
IX-24 Other expenses (24a–d)$4,947,966
IX-24e All other expenses$60,091
IX-25 Total functional expenses$9,158,182
Part X · Balance sheet $621,157,766 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $34,238,770$19,698,643
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $384,399$1,446,345
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $157,673$678,128
X-10c Land, buildings and equipment, netStart of year $55,988$35,325
X-11 Publicly traded securitiesStart of year $272,220,197$298,228,766
X-12 Other securitiesStart of year $257,529,252$275,134,838
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $30,191,008$25,935,721
X-16 Total assetsStart of year $594,777,287$621,157,766
X-17 Accounts payable and accrued expensesStart of year $992,097$503,610
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $90,126,349$77,534,394
X-26 Total liabilitiesStart of year $91,118,446$78,038,004
X-27 Net assets without donor restrictionsStart of year $503,658,841$543,119,762
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $503,658,841$543,119,762
X-33 Total liabilities and net assetsStart of year $594,777,287$621,157,766
Part XI · Reconciliation of net assets $543,119,762 net assets at year end
XI-1 Total revenue$33,657,217
XI-2 Total expenses$9,158,182
XI-3 Revenue less expenses$24,499,035
XI-4 Net assets at start of year$503,658,841
XI-5 Net unrealized gains (losses) on investments$14,961,886
XI-10 Net assets at end of year$543,119,762

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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