Civic Intelligence

Michigan Basic Property Insurance Association

990 • Fiscal year 2018 • EIN 38-1956049

Jan 01, 2018 to Dec 31, 2018 • Filed on Apr 04, 2019

Organization Profilewww.mbpia.com

View Organization Page

3245 East JeffersonDetroit, MI 48207-4222

(313) 877-7400

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

49th percentile

0.33x

Higher debt load relative to assets than 49% of similar nonprofits.

2018 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2018

Liabilities / Revenue

82nd percentile

1.04x

Higher debt load relative to revenue than 82% of similar nonprofits.

2018 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2018

Net Margin

6th percentile

-32%

Higher net margin than 6% of similar nonprofits.

2018 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2018

Top Officer Pay

9th percentile

$2,250

Higher top officer pay than 9% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2018

Asset Growth

13th percentile

-9.8%

Faster asset growth than 13% of similar nonprofits.

2018 filings • 501(c)6 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Revenue Growth

13th percentile

-15%

Faster revenue growth than 13% of similar nonprofits.

2018 filings • 501(c)6 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets49th percentile

Assets

Down

$49,195,801

Down $5,324,876 (-9.8%) from 2017

Net Assets

Down

$32,963,924

Down $2,160,158 (-6.2%) from 2017

Liabilities

Down

$16,231,877

Down $3,164,718 (-16%) from 2017

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin6th percentile

Revenue

Down

$15,633,024

Down $2,685,406 (-15%) from 2017

Expenses

Up

$20,692,923

Up $7,401,069 (+56%) from 2017

Net Income

Down

-$5,059,899

Down $10,086,475 (-201%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth13th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60M$40M$20M$0-$20MAssets 2010: $55,352,181Liabilities 2010: $43,647,469Net Assets 2010: $11,704,7122010Assets 2011: $36,429,930Liabilities 2011: $38,674,878Net Assets 2011: -$2,244,9482011Assets 2012: $38,797,509Liabilities 2012: $36,754,515Net Assets 2012: $2,042,9942012Assets 2013: $42,744,445Liabilities 2013: $26,306,581Net Assets 2013: $16,437,8642013Assets 2014: $47,090,808Liabilities 2014: $27,276,220Net Assets 2014: $19,814,5882014Assets 2015: $49,489,075Liabilities 2015: $24,204,987Net Assets 2015: $25,284,0882015Assets 2016: $50,569,587Liabilities 2016: $22,561,207Net Assets 2016: $28,008,3802016Assets 2017: $54,520,677Liabilities 2017: $19,396,595Net Assets 2017: $35,124,0822017Assets 2018: $49,195,801Liabilities 2018: $16,231,877Net Assets 2018: $32,963,9242018Assets 2019: $54,265,153Liabilities 2019: $16,404,856Net Assets 2019: $37,860,2972019Assets 2020: $36,478,347Liabilities 2020: $15,430,415Net Assets 2020: $21,047,9322020Assets 2021: $25,213,481Liabilities 2021: $13,666,769Net Assets 2021: $11,546,7122021Assets 2022: $16,573,320Liabilities 2022: $14,106,627Net Assets 2022: $2,466,6932022Assets 2023: $15,762,775Liabilities 2023: $12,762,884Net Assets 2023: $2,999,8912023Assets 2024: $19,780,351Liabilities 2024: $14,463,374Net Assets 2024: $5,316,9772024

Highlighted filing

2018

Assets$49,195,801
Liabilities$16,231,877
Net Assets$32,963,924
Open 2018 Filing

Operations Trend

Revenue Growth13th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$40M$20M$0-$20MExpenses 2010: $39,379,2092010Expenses 2011: $30,186,8132011Expenses 2012: $27,270,4852012Revenue 2013: $28,261,469Expenses 2013: $23,643,810Net Income 2013: $4,617,6592013Revenue 2014: $26,763,688Expenses 2014: $19,655,124Net Income 2014: $7,108,5642014Revenue 2015: $23,282,000Expenses 2015: $17,032,074Net Income 2015: $6,249,9262015Revenue 2016: $20,690,870Expenses 2016: $18,280,443Net Income 2016: $2,410,4272016Revenue 2017: $18,318,430Expenses 2017: $13,291,854Net Income 2017: $5,026,5762017Revenue 2018: $15,633,024Expenses 2018: $20,692,923Net Income 2018: -$5,059,8992018Revenue 2019: $15,458,807Expenses 2019: $13,303,987Net Income 2019: $2,154,8202019Revenue 2020: $15,942,154Expenses 2020: $10,878,766Net Income 2020: $5,063,3882020Revenue 2021: $14,270,902Expenses 2021: $10,325,535Net Income 2021: $3,945,3672021Revenue 2022: $12,632,616Expenses 2022: $10,898,573Net Income 2022: $1,734,0432022Revenue 2023: $11,845,327Expenses 2023: $11,173,758Net Income 2023: $671,5692023Revenue 2024: $13,447,771Expenses 2024: $10,883,167Net Income 2024: $2,564,6042024

Highlighted filing

2018

Revenue$15,633,024
Expenses$20,692,923
Net Income-$5,059,899
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Apr 4, 2019
Return Version
2018v3.1
Gross Receipts
$21,440,613
Mission and Program Overview

Mission

The mission of Michigan Basic Property Insurance Association is to provide prompt courteous and efficient service to our customers; be aware of the responsibility we have to our member companies and policyholders to utilize resources effectively; provide a work environment that recognizes creativity and promotes teamwork; and be sensitive to the needs of the community.

The mission of Michigan Basic Property Insurance Association is to provide prompt, courteous, and efficient service to our customers; be aware of the responsibility we have to our member companies and policyholders to utilize resources effectively; provide a work environment that recognizes creativity and promotes teamwork; and be sensitive to the needs of the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$47,912,707$42,959,884▼ $4,952,823
Rtn Earn Endowment Incm Other Fnds$35,124,082$32,963,924▼ $2,160,158
Land, Buildings, and Equipment, Net$4,005,571$4,052,889▲ $47,318
Accounts Receivable$2,279,875$1,917,139▼ $362,736
Savings and Temporary Cash Investments$763,216$803,796▲ $40,580
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Cash and Non-Interest-Bearing Accounts$-449,736$-549,940▼ $100,204
Total Assets$54,520,677$49,195,801▼ $5,324,876
Other Assets Total$9,044$12,033▲ $2,989
Liabilities
Other Liabilities$18,930,493$15,955,735▼ $2,974,758
Accounts Payable and Accrued Expenses$413,874$267,451▼ $146,423
Escrow Account Liability$52,228$8,691▼ $43,537
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$19,396,595$16,231,877▼ $3,164,718
Net Assets / Fund Balance
Total Net Assets Fund Balance$35,124,082$32,963,924▼ $2,160,158
Total Liabilities and Net Assets / Fund Balance$54,520,677$49,195,801▼ $5,324,876

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,439,475$3,034,416$5,473,891
Land$1,510,554-$1,510,554
Other Land Buildings$102,860$858,698$961,558
Equipment$0$0$0
Leasehold Improvements$0$0$0
Compensation and Service Providers
Top Officer Pay9th percentile

Employees

NameTitleBaseTotal
Muddasar TawakkulBoard of Governors$2,250$2,250
Steve RockBoard of Governors$1,650$1,650
David WalkerBoard of Governors$1,200$1,200
Leroy BosticBoard of Governors$1,200$1,200
Solon PhillipsBoard of Governors$1,200$1,200
David FieldBoard of Governors$750$750

Board Members and Trustees

NameTitle
Amy MassBoard of Governors
Andrea PhillipsBoard of Governors
Christopher ClevelandBoard of Governors
Danel J OSheaBoard of Governors
Janie HathawayBoard of Governors
John PfisterBoard of Governors
Katie Ann JonesBoard of Governors
Linda MaarBoard of Governors
Lisa HIcksBoard of Governors
Randy McKeeBoard of Governors

Highest Paid Contractors

ContractorServicesLocationCompensation
Fabian Sklar & King PCLegal Services33450 West Twelve Mile Road, Farmington HIlls, MI 48331$545,004
Marc Goldman & AssociatesLegal Services30300 Northwestern Hwy Ste 321, Farmington Hills, MI 48334$126,588
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$14,292,439
Investment Income
$1,338,153
Other Revenue
$2,432
All Other Contributions
$0
Change in Net Assets
$-5,059,899
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$17,508,784
Salaries, Compensation, and Employee Benefits$3,161,354
Grants and Similar Amounts Paid$22,785
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,792,869$0$0$2,792,869
Information Technology$1,235,053$0$0$1,235,053
Other Expenses$650,532$0$0$650,532
All Other Expenses$407,165$0$0$407,165
Occupancy$323,076$0$0$323,076
Office Expenses$220,478$0$0$220,478
Payroll Taxes$208,424$0$0$208,424
Fees for Services Accounting$194,129$0$0$194,129
Other Employee Benefits$151,211$0$0$151,211
Fees for Service Investment Mgmnt Fees$59,220$0$0$59,220
Travel$44,810$0$0$44,810
Insurance$32,472$0$0$32,472
Depreciation Depletion$31,299$0$0$31,299
Fees for Services Other$24,810$0$0$24,810
Grants to Domestic Orgs$22,675--$22,675
Fees for Services Legal$20,263$0$0$20,263
Conferences and Meetings$13,355$0$0$13,355
Current Officers, Directors, Trustees, and Key Employees$8,850$0$0$8,850
Grants to Domestic Individuals$110--$110
Total Functional Expenses$20,692,923$0$0$20,692,923
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Detroit Crime CommissionDetroit, MI501(c)(3)Reward Program$21,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Unearned Premium$6,617,748
Underwriting Accrual$5,530,787
Loss Reserve$2,664,372
Loss Adjustment Expense Reserve$781,000
Outstanding Check to be Escheated$190,430
Advance Premium$165,053
Due To Affilates$6,345
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI, Section A, Line 6

“Michigan Basic Property Insurance Association is a trade association of all insurance companies licensed by Michigan to write property lines of business within the state. These companies elect ten company representatives and two public members into the governing body. The other six members of the governing body are appointed by the Michigan Insurance Commissioner.”

Part VI, Section A, Line 7A

“| Class of the Person:, Nature of their rights:| Trade Association, Michigan Basic Property Insurance Association is a trade association of all insurance companies licensed by Michigan to write property lines of business within the state. These companies elect ten company representatives and two public members into the governing body. The other six members of the governing body are appointed by the Michigan Insurance Commissioner.|”

Part VI, Section B, Line 11B

“The Form 990 is prepared by the organization's accounting department and then reviewed by the accounting manager.”

Part VI, Section B, Line 12C

“Biannually, the association circulates and recovers with acknowledgement an authenticated conflict of interest questionnaire.”

Part VI, Section C, Line 19

“The organization makes the governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Michigan Basic Property Insurance Association
EIN
38-1956049
In Care Of
% D Jane Howard Carlson
Phone
3138777400
Address
3245 East Jefferson, Detroit, MI 48207-4222

Signing Officer

Name
Michelle Mooradian
Title
Manager of Accounting
Phone
3138777032
Signed
2019-04-04

Organization Details

Formed
1968
Legal Domicile
Mi
Voting Board Members
16
Independent Board Members
16
Employees
35
Volunteers
0
Supplemental Narrative

Additional Explanations

Part XI, Line 9

“| Description:, Explanation:, Amount:| Non Admitted Assets, Current Year Change, $35451| Unrecognized Post Retirement Obligations, Current Year Change, $402142| Unrecognized Pension Obligations, Current Year Change, $-3319469| Pension Obligation Settlement, Reclassification of Unrecognized Loss, $8239656|”

Financial Statement Notes

Part IV, line 2B

“Michigan Basic Property Insurance Association collects and redistributes money received from employees for charity and money received from employees or former employees for benefits. The Association also collects and redistributes the portion of premium that is payable as commission earned by the insurance agents.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm0David Field
IRS990/Form990PartVIISectionAGrp/PersonNm1Janie Hathaway
IRS990/Form990PartVIISectionAGrp/PersonNm2Lisa HIcks
IRS990/Form990PartVIISectionAGrp/PersonNm3Katie Ann Jones
IRS990/Form990PartVIISectionAGrp/PersonNm4John Pfister
IRS990/Form990PartVIISectionAGrp/PersonNm5Amy Mass
IRS990/Form990PartVIISectionAGrp/PersonNm6Linda Maar
IRS990/Form990PartVIISectionAGrp/PersonNm7Leroy Bostic
IRS990/Form990PartVIISectionAGrp/PersonNm8Christopher Cleveland
IRS990/Form990PartVIISectionAGrp/PersonNm9Solon Phillips
IRS990/Form990PartVIISectionAGrp/PersonNm10Steve Rock
IRS990/Form990PartVIISectionAGrp/PersonNm11Muddasar Tawakkul
IRS990/Form990PartVIISectionAGrp/PersonNm12David Walker
IRS990/Form990PartVIISectionAGrp/PersonNm13Randy McKee
IRS990/Form990PartVIISectionAGrp/PersonNm14Danel J OShea
IRS990/Form990PartVIISectionAGrp/PersonNm15Andrea Phillips
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Board of Governors
IRS990/Form990PartVIISectionAGrp/TitleTxt1Board of Governors
IRS990/Form990PartVIISectionAGrp/TitleTxt2Board of Governors
IRS990/Form990PartVIISectionAGrp/TitleTxt3Board of Governors
IRS990/Form990PartVIISectionAGrp/TitleTxt4Board of Governors
IRS990/Form990PartVIISectionAGrp/TitleTxt5Board of Governors
IRS990/Form990PartVIISectionAGrp/TitleTxt6Board of Governors
IRS990/Form990PartVIISectionAGrp/TitleTxt7Board of Governors
IRS990/Form990PartVIISectionAGrp/TitleTxt8Board of Governors
IRS990/Form990PartVIISectionAGrp/TitleTxt9Board of Governors
IRS990/Form990PartVIISectionAGrp/TitleTxt10Board of Governors
IRS990/Form990PartVIISectionAGrp/TitleTxt11Board of Governors
IRS990/Form990PartVIISectionAGrp/TitleTxt12Board of Governors
IRS990/Form990PartVIISectionAGrp/TitleTxt13Board of Governors
IRS990/Form990PartVIISectionAGrp/TitleTxt14Board of Governors
IRS990/Form990PartVIISectionAGrp/TitleTxt15Board of Governors
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IRS990/FundraisingGrossIncomeAmt00
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IRS990/GamingDirectExpensesAmt00
IRS990/GamingGrossIncomeAmt00
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IRS990/GrantsToDomesticOrgsGrp/TotalAmt022675
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IRS990/GrantsToOrganizationsInd0true
IRS990/GrantToRelatedPersonInd0false
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IRS990/IncludeFIN48FootnoteInd0false
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IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIInd0X
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IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt00
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IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InterestGrp/FundraisingAmt00
IRS990/InterestGrp/ManagementAndGeneralAmt00
IRS990/InterestGrp/ProgramServicesAmt00
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IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0The mission of Michigan Basic Property Insurance Association is to provide prompt, courteous, and efficient service to our customers; be aware of the responsibility we have to our member companies and policyholders to utilize resources effectively; provide a work environment that recognizes creativity and promotes teamwork; and be sensitive to the needs of the community.
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IRS990/OtherExpensesGrp/Desc0Realized Loss on Pension Obligation
IRS990/OtherExpensesGrp/Desc1Incurred Losses

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$49,195,801
Liabilities
$16,231,877
Net assets
$32,963,924
Revenue
$15,633,024
Expenses
$20,692,923
Net income
-$5,059,899
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.8$14.5$5.32$13.4$10.9$2.56
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.8$12.8$3.00$11.8$11.2$0.67
2022Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$16.6$14.1$2.47$12.6$10.9$1.73
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$25.2$13.7$11.5$14.3$10.3$3.95
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$36.5$15.4$21.0$15.9$10.9$5.06
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$54.3$16.4$37.9$15.5$13.3$2.15
2018Detailed filing. Detailed filing data is available for this year.$49.2$16.2$33.0$15.6$20.7$5.06
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$54.5$19.4$35.1$18.3$13.3$5.03
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$50.6$22.6$28.0$20.7$18.3$2.41
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$49.5$24.2$25.3$23.3$17.0$6.25
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$47.1$27.3$19.8$26.8$19.7$7.11
2013Detailed filing. Detailed filing data is available for this year.$42.7$26.3$16.4$28.3$23.6$4.62
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$38.8$36.8$2.04$27.3
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$36.4$38.7$2.24$30.2
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$55.4$43.6$11.7$39.4