New Jersey Property Liability

Organization Overview

New Jersey Property Liability is located in Basking Ridge, NJ. The organization was established in 1985. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2021, New Jersey Property Liability employed 121 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Jersey Property Liability is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.

For the year ending 12/2021, New Jersey Property Liability generated $113.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $99.7m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

NJPLIGA WAS CREATED BY NJSA 17:30A-1 ET SEQ. THE STATUTE ESTABLISHES A MECHANISM FOR THE PAYMENT OF "COVERED CLAIMS" OF INSOLVENT INSURANCE COMPANIES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

NJPLIGA WAS CREATED BY NJSA 17:30A-1 ET SEQ. THE STATUTE ESTABLISHES A MECHANISM FOR THE PAYMENT OF "COVERED CLAIMS" OF INSOLVENT INSURANCE COMPANIES. NJPLIGA IS FUNDED THROUGH MEMBER COMPANY ASSESSMENTS. THE STATUTE REQUIRES ALL INSURANCE COMPANIES LICENSED IN THE STATE OF NEW JERSEY WHICH WRITE ANY KIND OF INSURANCE TO WHICH THE NEW JERSEY PROPERTY-LIABILITY INSURANCE GUARANTY ASSOCIATION ACT APPLIES, TO BE MEMBERS OF NJPLIGA.


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Outside Vendors & Contractors

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Bayada Home Healthcare Inc
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$3,398,628
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A Plus Home Care Inc
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$444,518
Bancroft
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Angelic Healthcare Services Inc
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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$111,259,427
Investment income $2,251,156
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$106,297
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $113,404,286

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