SELF-INSURERS' SECURITY FUND

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1984

Legal Domicile

Phone

9256271303

Tax Period

2024-07-01 to 2025-06-30

SELF-INSURERS' SECURITY FUND, founded in 1984, is a mid-sized nonprofit that reported $80.7M in total revenue in fiscal year 2024. The organization ran a surplus of $25.8M, a strong 32% operating margin.

Mission

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.

Program Service Accomplishments

Program 1

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.

Program 2

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...

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.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $4,010,879

Investment Income $76,648,699

Other Revenue $0

TOTAL REVENUE $80,659,578

Expense Breakdown

Grants Paid $0

Salaries & Benefits $935,956

Fundraising Expenses $0

Program Expenses $0

Other Expenses $53,875,195

TOTAL EXPENSES $54,811,151

Year-over-Year Comparison

	2024	2023	Change
Revenue	$80,659,578	$76,613,039	+0.1%
Expenses	$54,811,151	$54,236,411	+0.0%
Net Income	$25,848,427	$22,376,628	+0.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,900

Total Directors

$3,500

Key Employees

$572,475

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
WILLIAM LYONS	CHAIRPERSON	1.0	Officer Director	$1,900	$0	$1,900
ED HALL	TRUSTEE	0.0	Director	$0	$0	$0
FRANCISCO CANO	TRUSTEE (as of 1/1/2025)	0.0	Director	$0	$0	$0
JOHN SMOLK	TRUSTEE	0.0	Director	$1,000	$0	$1,000
MARTIN KING	TREASURER	0.0	Director	$0	$0	$0
RAMENEH TORRES	TRUSTEE (as of 1/1/2025)	0.0	Director	$0	$0	$0
STACY BRATCHER	TRUSTEE	0.0	Director	$0	$0	$0
TIM EAST	TRUSTEE	0.0	Director	$600	$0	$600
ADRIANA MERTINAK	DIRECTOR OF FINANCE	40.0	Key Emp	$200,489	$0	$200,489
GRANT HEINTZ	DIRECTOR, MEMBER CREDIT RISK	40.0	Key Emp	$204,631	$0	$204,631
JILL DULICH	DIRECTOR, CLAIMS AND OPERATIONS	32.0	Key Emp	$167,355	$0	$167,355

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$80,659,578	$54,811,151	$905,651,511	$25,848,427
2024	No data	No data	No data	No data
2023	$30,148,061	$5,474,810	$746,398,766	$24,673,251
2022	$58,713,916	$7,322,616	$692,448,736	$51,391,300
2021	$73,239,633	$16,219,243	$783,094,519	$57,020,390
2020	$33,657,217	$9,158,182	$621,157,766	$24,499,035
2019	$65,844,772	$12,398,561	$594,777,287	$53,446,211
2018	$64,252,501	$11,297,212	$543,054,642	$52,955,289