Civic Intelligence

Michigan Basic Property Insurance Association

990 • Fiscal year 2019 • EIN 38-1956049

Jan 01, 2019 to Dec 31, 2019 • Filed on Jul 16, 2020

Organization Profilewww.mbpia.com

View Organization Page

27555 Farmington Road Suite 315Farmington Hills, MI 48334

(313) 877-7400

Siviq Scores

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

Liabilities / Assets

52nd percentile

0.30x

Higher debt load relative to assets than 52% of similar nonprofits.

2019 filings • 501(c)6 • $50M-$100M nonprofits • Source year 2019

Liabilities / Revenue

90th percentile

1.06x

Higher debt load relative to revenue than 90% of similar nonprofits.

2019 filings • 501(c)6 • $50M-$100M nonprofits • Source year 2019

Net Margin

77th percentile

14%

Higher net margin than 77% of similar nonprofits.

2019 filings • 501(c)6 • $50M-$100M nonprofits • Source year 2019

Top Officer Pay

6th percentile

$2,550

Higher top officer pay than 6% of similar nonprofits.

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

2019 filings • 501(c)6 • $50M-$100M nonprofits • Source year 2019

Asset Growth

54th percentile

10%

Faster asset growth than 54% of similar nonprofits.

2019 filings • 501(c)6 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Revenue Growth

28th percentile

-1.1%

Faster revenue growth than 28% of similar nonprofits.

2019 filings • 501(c)6 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets52nd percentile

Assets

Up

$54,265,153

Up $5,069,352 (+10%) from 2018

Net Assets

Up

$37,860,297

Up $4,896,373 (+15%) from 2018

Liabilities

Up

$16,404,856

Up $172,979 (+1.1%) from 2018

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin77th percentile

Revenue

Down

$15,458,807

Down $174,217 (-1.1%) from 2018

Expenses

Down

$13,303,987

Down $7,388,936 (-36%) from 2018

Net Income

Up

$2,154,820

Up $7,214,719 (+143%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth54th 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

2019

Assets$54,265,153
Liabilities$16,404,856
Net Assets$37,860,297
Open 2019 Filing

Operations Trend

Revenue Growth28th 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

2019

Revenue$15,458,807
Expenses$13,303,987
Net Income$2,154,820
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jul 16, 2020
Return Version
2019v5.0
Gross Receipts
$19,943,375
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$42,959,884$51,676,043▲ $8,716,159
Rtn Earn Endowment Incm Other Fnds$32,963,924$37,860,297▲ $4,896,373
Accounts Receivable$1,917,139$1,781,722▼ $135,417
Savings and Temporary Cash Investments$803,796$985,021▲ $181,225
Land, Buildings, and Equipment, Net$4,052,889$108,145▼ $3,944,744
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→ $0
Cash and Non-Interest-Bearing Accounts$-549,940$-316,482▲ $233,458
Total Assets$49,195,801$54,265,153▲ $5,069,352
Other Assets Total$12,033$30,704▲ $18,671
Liabilities
Other Liabilities$15,955,735$16,087,598▲ $131,863
Accounts Payable and Accrued Expenses$267,451$307,358▲ $39,907
Escrow Account Liability$8,691$9,900▲ $1,209
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$16,231,877$16,404,856▲ $172,979
Net Assets / Fund Balance
Total Net Assets Fund Balance$32,963,924$37,860,297▲ $4,896,373
Total Liabilities and Net Assets / Fund Balance$49,195,801$54,265,153▲ $5,069,352

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$108,145$711,010$819,155
Buildings$0$0$0
Land$0-$0
Equipment$0$0$0
Leasehold Improvements$0$0$0
Compensation and Service Providers
Top Officer Pay6th percentile

Employees

NameTitleBaseTotal
Muddasar TawakkulBoard of Governors$2,550$2,550
David WalkerBoard of Governors$1,500$1,500
Leroy BosticBoard of Governors$1,350$1,350
Steve RockBoard of Governors$1,350$1,350
David FieldBoard of Governors$1,050$1,050
Solon PhillipsBoard of Governors$1,050$1,050

Board Members and Trustees

NameTitle
Amy MassBoard of Governors
Andrea PhillipsBoard of Governors
Christopher ClevelandBoard of Governors
Daniel J OSheaBoard of Governors
Janie HathawayBoard of Governors
Katie Ann JonesBoard of Governors
Linda MaarBoard of Governors
Lisa HicksBoard of Governors
Mark PinkertonBoard of Governors
Randy McKeeBoard of Governors
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$12,631,114
Investment Income
$2,824,771
Other Revenue
$2,922
All Other Contributions
$0
Change in Net Assets
$2,154,820

Audited Revenue Reconciliation

Revenue per Audited Statements
$15,458,807
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$15,458,807
Total Revenue per Form 990
$15,458,807
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$9,906,143
Salaries, Compensation, and Employee Benefits$3,389,481
Grants and Similar Amounts Paid$8,363
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,799,436$0$0$2,799,436
Information Technology$1,068,270$0$0$1,068,270
Occupancy$411,594$0$0$411,594
Other Employee Benefits$373,107$0$0$373,107
Other Expenses$310,502$0$0$310,502
Fees for Services Accounting$232,935$0$0$232,935
Payroll Taxes$208,088$0$0$208,088
Office Expenses$206,398$0$0$206,398
All Other Expenses$198,625$0$0$198,625
Fees for Services Other$60,524$0$0$60,524
Fees for Service Investment Mgmnt Fees$59,067$0$0$59,067
Travel$42,154$0$0$42,154
Insurance$37,915$0$0$37,915
Depreciation Depletion$37,617$0$0$37,617
Fees for Services Legal$18,500$0$0$18,500
Conferences and Meetings$9,512$0$0$9,512
Current Officers, Directors, Trustees, and Key Employees$8,850$0$0$8,850
Grants to Domestic Orgs$8,100--$8,100
Grants to Domestic Individuals$263--$263
Total Functional Expenses$13,303,987$0$0$13,303,987

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$13,303,987
Total Expenses per Audited Statements$13,303,987
Total Expenses per Form 990$13,303,987
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Detroit Crime CommissionDetroit, MI501(c)(3)Reward Program$6,500
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
Underwriting Accrual$6,215,713
Unearned Premium$6,083,607
Loss Reserve$2,554,828
Loss Adjustment Expense Reserve$839,000
Outstanding Checks to be Escheated$198,729
Advance Premium$195,721
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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 operations manager.”

Part VI, Section B, Line 12C

“Biannually, the association circulates and recovers with acknowledgement and 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
27555 FARMINGTON ROAD SUITE 315, Farmington Hills, MI 48334

Signing Officer

Name
Michelle Mooradian
Title
Operations Manager
Phone
3138777032
Signed
2020-07-16
Discuss with paid preparer
No

Organization Details

Principal Officer
D Jane Howard-Carlson
Formed
1968
Legal Domicile
Mi
Voting Board Members
16
Independent Board Members
16
Employees
34
Volunteers
0
Supplemental Narrative

Additional Explanations

Part XI, Line 9

“| Description:, Explanation:, Amount:| Non Admitted Assets, Current Year Change, $-103580| Unrecognized Post Retirement Obligations, Current Year Change, $-1075477|”

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/PersonNm1Randy McKee
IRS990/Form990PartVIISectionAGrp/PersonNm2Leroy Bostic
IRS990/Form990PartVIISectionAGrp/PersonNm3Christopher Cleveland
IRS990/Form990PartVIISectionAGrp/PersonNm4David Field
IRS990/Form990PartVIISectionAGrp/PersonNm5Janie Hathaway
IRS990/Form990PartVIISectionAGrp/PersonNm6Lisa Hicks
IRS990/Form990PartVIISectionAGrp/PersonNm7Linda Maar
IRS990/Form990PartVIISectionAGrp/PersonNm8Amy Mass
IRS990/Form990PartVIISectionAGrp/PersonNm9Daniel J OShea
IRS990/Form990PartVIISectionAGrp/PersonNm10Andrea Phillips
IRS990/Form990PartVIISectionAGrp/PersonNm11Solon Phillips
IRS990/Form990PartVIISectionAGrp/PersonNm12Mark Pinkerton
IRS990/Form990PartVIISectionAGrp/PersonNm13Steve Rock
IRS990/Form990PartVIISectionAGrp/PersonNm14Muddasar Tawakkul
IRS990/Form990PartVIISectionAGrp/PersonNm15David Walker
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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
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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/GainOrLossGrp/SecuritiesAmt0212638
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IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt0400000
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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/ManagementAndGeneralAmt20
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt30

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$54,265,153
Liabilities
$16,404,856
Net assets
$37,860,297
Revenue
$15,458,807
Expenses
$13,303,987
Net income
$2,154,820
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
2019Detailed filing. Detailed filing data is available for this year.$54.3$16.4$37.9$15.5$13.3$2.15
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2019 filings • 501(c)6 • $50M-$100M nonprofits