Prior to 1998, Ausir, you'd be right. Up until that year, only around 1,000 Quenya words were known. These were published in Nancy Martsch's "Basic Quenya" book. However, with the publication of the Qenya Lexicon in 1998, thousands of additional entries (4,109) were added. These entries are, I assure you, quite official, and fully authorized by the Tolkien estate. But if you are basing your opinion on the old situation, I hope you will consider a visit to some Tolkien language sites. Yes, of course, there are still a few gaps in the vocabulary. There are not, however, many words made up by fans in any of the translations I have seen, such as the Bible translations I linked to yesterday, or in other translations.
Maybe there's enough words to cover Middle-earth topics and such, but certainly none for writing about modern stuff...