Overview
What is Njea Affiliates Risk Purchasing Group A Nj Nonprofit Corporation?
Njea Affiliates Risk Purchasing Group A Nj Nonprofit Corporation is a federally recognized, nonprofit organization located at 180 West State Street, Trenton, New Jersey. Its primary purpose is to establish and maintain a risk purchasing group, solely and exclusively benefiting its members, all of whom are affiliated with the New Jersey Education Association, including the New Jersey Education Association itself. This risk purchasing group aims to provide insurance coverage and risk management services for its members, operating under the umbrella of a federally qualified insurance risk pool.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 53%, One-Star out of Four Star rating.
Njea Affiliates Risk Purchasing Group A Nj Nonprofit Corporation has received a low score of 53%, indicating significant concerns regarding its accountability and financial practices. Notably, the organization lacks independent board members, which is critical for ensuring transparency and accountability. Additionally, several essential policies, such as those regarding conflicts of interest and whistleblower protections, are missing, which raises further concerns about governance.
Despite these weaknesses, the organization shows a strong commitment to its mission, as evidenced by a program expense ratio of 99.98%. This suggests that nearly all its funds are directed towards its programs rather than administrative costs. Furthermore, there are no material diversions of assets reported, indicating a level of financial integrity concerning the management of resources.
However, the absence of crucial governance documents and policies, along with the lack of independent board oversight, could potentially hinder the nonprofit's effectiveness and public trust. To improve its standing, Njea Affiliates Risk Purchasing Group should focus on enhancing its governance structure and transparency measures.
This AI summary has been generated from information found on Charity Navigator.
Is Njea Affiliates Risk Purchasing Group A Nj Nonprofit Corporation legitimate?
Njea Affiliates Risk Purchasing Group A Nj Nonprofit Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Njea Affiliates Risk Purchasing Group A Nj Nonprofit Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Njea Affiliates Risk Purchasing Group A Nj Nonprofit Corporation?
Njea Affiliates Risk Purchasing Group A Nj Nonprofit Corporation exists with a mission to establish and maintain a risk purchasing group primarily for the benefit of its members, all of whom are affiliated with the New Jersey Education Association, including the New Jersey Education Association itself. The group's primary objective is to provide a platform for risk management and sharing among its members, thereby offering potential cost savings and mitigating risks associated with their operations. This collective approach to risk management can prove beneficial for the group's members by pooling resources and sharing experiences, ultimately enhancing their overall operational efficiency and stability.
Who is the CEO of Njea Affiliates Risk Purchasing Group A Nj Nonprofit Corporation?
Petal Robertson is the Director of Njea Affiliates Risk Purchasing Group A Nj Nonprofit Corporation.
What is the revenue of Njea Affiliates Risk Purchasing Group A Nj Nonprofit Corporation?
Njea Affiliates Risk Purchasing Group A Nj Nonprofit Corporation's revenue in 2022 was $161,134.
Who are the executives of Njea Affiliates Risk Purchasing Group A Nj Nonprofit Corporation and what are their salaries?
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $291,289
- Other: -$106,217
- Compensation: $0
- Related: $266,885
- Other: $3,097
- Compensation: $0
- Related: $87,980
- Other: $40,896
- Compensation: $0
- Related: $241,815
- Other: -$33,797
- Compensation: $0
- Related: $411,864
- Other: -$385,830
Where can I find the form 990 for Njea Affiliates Risk Purchasing Group A Nj Nonprofit Corporation?
Njea Affiliates Risk Purchasing Group A Nj Nonprofit Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Njea Affiliates Risk Purchasing Group A Nj Nonprofit Corporation
Njea Affiliates Risk Purchasing Group A Nj Nonprofit Corporation is established with a mission to serve the exclusive benefit of its members, all of whom are affiliated with the New Jersey Education Association, including the New Jersey Education Association itself. The organization's primary objective is the maintenance of a risk purchasing group, a concept that allows its members to pool their resources and risks to potentially secure better insurance coverage and more favorable rates. By operating as a risk purchasing group, Njea Affiliates Risk Purchasing Group A Nj Nonprofit Corporation provides its members with a collective strength that can help mitigate the financial impact of potential insurance claims, thereby offering a valuable service to its affiliated educators.
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Impact
October, 2024
Njea Affiliates Risk Purchasing Group A Nj Nonprofit Corporation plays a crucial role in providing a risk purchasing group specifically designed to benefit its members who are affiliated with the New Jersey Education Association. By focusing on this targeted group, it ensures that educational professionals have access to tailored insurance solutions that meet their unique needs and challenges.
The impact of this organization is multi-faceted. It enhances the financial stability of its members by allowing them to pool their resources and secure better insurance rates and coverage options. This collaborative approach not only alleviates the financial burden on individual educators and their institutions but also fosters a sense of community among members who share common professional interests.
Additionally, by focusing on the education sector, Njea Affiliates Risk Purchasing Group helps to create a safer and more secure environment for both educators and students. This includes comprehensive risk management strategies that can mitigate potential liabilities, enabling educators to focus more effectively on their teaching and less on concerns about unforeseen risks.
Overall, the organization's commitment to supporting members through effective risk management positively influences the broader educational landscape in New Jersey, contributing to the overall well-being of schools and the communities they serve.
This information is meant to be a general summary of Njea Affiliates Risk Purchasing Group A Nj Nonprofit Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Gross Receipts: $161,134
Assets and Liabilities:
- Total Assets: $9,833
- Total Liabilities: $593
- Net Assets: $9,240
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Organization Details
Founding Year
2014
Phone
(609) 599-4561Principal Officer
Petal Robertson
Main Address
180 WEST STATE ST, TRENTON, NJ, 08607
NTEE Category
Code: B12 - Education
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