Civic Intelligence

Michigan Basic Property Insurance Association

990 • Fiscal year 2020 • EIN 38-1956049

Jan 01, 2020 to Dec 31, 2020 • Filed on May 13, 2021

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

67th percentile

0.42x

Higher debt load relative to assets than 67% of similar nonprofits.

2020 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2020

Liabilities / Revenue

78th percentile

0.97x

Higher debt load relative to revenue than 78% of similar nonprofits.

2020 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2020

Net Margin

89th percentile

32%

Higher net margin than 89% of similar nonprofits.

2020 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2020

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.

2020 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2020

Asset Growth

4th percentile

-33%

Faster asset growth than 4% of similar nonprofits.

2020 filings • 501(c)6 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Revenue Growth

76th percentile

3.1%

Faster revenue growth than 76% of similar nonprofits.

2020 filings • 501(c)6 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets67th percentile

Assets

Down

$36,478,347

Down $17,786,806 (-33%) from 2019

Net Assets

Down

$21,047,932

Down $16,812,365 (-44%) from 2019

Liabilities

Down

$15,430,415

Down $974,441 (-5.9%) from 2019

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin89th percentile

Revenue

Up

$15,942,154

Up $483,347 (+3.1%) from 2019

Expenses

Down

$10,878,766

Down $2,425,221 (-18%) from 2019

Net Income

Up

$5,063,388

Up $2,908,568 (+135%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth4th 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

2020

Assets$36,478,347
Liabilities$15,430,415
Net Assets$21,047,932
Open 2020 Filing

Operations Trend

Revenue Growth76th 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

2020

Revenue$15,942,154
Expenses$10,878,766
Net Income$5,063,388
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 13, 2021
Return Version
2020v4.0
Gross Receipts
$33,027,920
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$51,676,043$33,878,255▼ $17,797,788
Rtn Earn Endowment Incm Other Fnds$37,860,297$21,047,932▼ $16,812,365
Savings and Temporary Cash Investments$985,021$3,731,907▲ $2,746,886
Accounts Receivable$1,781,722$1,522,960▼ $258,762
Land, Buildings, and Equipment, Net$108,145$98,162▼ $9,983
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→ $0
Cash and Non-Interest-Bearing Accounts$-316,482$-2,762,865▼ $2,446,383
Total Assets$54,265,153$36,478,347▼ $17,786,806
Other Assets Total$30,704$9,928▼ $20,776
Liabilities
Other Liabilities$16,087,598$15,147,373▼ $940,225
Accounts Payable and Accrued Expenses$307,358$282,097▼ $25,261
Escrow Account Liability$9,900$945▼ $8,955
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$16,404,856$15,430,415▼ $974,441
Net Assets / Fund Balance
Total Net Assets Fund Balance$37,860,297$21,047,932▼ $16,812,365
Total Liabilities and Net Assets / Fund Balance$54,265,153$36,478,347▼ $17,786,806

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$98,162$752,197$850,359
Buildings$0$0$0
Land$0-$0
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$2,100$2,100
Solon PhillipsBoard of Governors$1,650$1,650
Leroy BosticBoard of Governors$1,350$1,350
David FieldBoard of Governors$1,050$1,050
David WalkerBoard of Governors$750$750
David KramerBoard of Governors$300$300
Michael C LevineBoard of Governors$150$150

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
Jeffrey O WilliamsBoard of Governors
Katie Ann JonesBoard of Governors
Linda MaarBoard of Governors
Lisa HicksBoard of Governors
Mark PinkertonBoard of Governors
Randy McKeeBoard of Governors

Highest Paid Contractors

ContractorServicesLocationCompensation
Fabian Sklar King and Liss PC-33450 West Twelve Mile Rd, Farmington Hills, MI 48331$137,735
---$0
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$11,606,046
Investment Income
$4,335,031
Other Revenue
$1,077
All Other Contributions
$0
Change in Net Assets
$5,063,388

Audited Revenue Reconciliation

Revenue per Audited Statements
$15,942,154
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$15,942,154
Total Revenue per Form 990
$15,942,154
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,543,285
Salaries, Compensation, and Employee Benefits$3,324,881
Grants and Similar Amounts Paid$10,600
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,653,998$0$0$2,653,998
Information Technology$640,761$0$0$640,761
Other Employee Benefits$473,021$0$0$473,021
Occupancy$387,081$0$0$387,081
Office Expenses$235,183$0$0$235,183
Fees for Services Accounting$211,854$0$0$211,854
All Other Expenses$210,592$0$0$210,592
Other Expenses$199,619$0$0$199,619
Payroll Taxes$188,262$0$0$188,262
Depreciation Depletion$63,880$0$0$63,880
Fees for Service Investment Mgmnt Fees$56,365$0$0$56,365
Fees for Services Legal$38,595$0$0$38,595
Insurance$37,303$0$0$37,303
Fees for Services Other$36,017$0$0$36,017
Conferences and Meetings$11,860$0$0$11,860
Grants to Domestic Orgs$10,200--$10,200
Current Officers, Directors, Trustees, and Key Employees$9,600$0$0$9,600
Travel$5,311$0$0$5,311
Grants to Domestic Individuals$400--$400
Total Functional Expenses$10,878,766$0$0$10,878,766

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$10,878,766
Total Expenses per Audited Statements$10,878,766
Total Expenses per Form 990$10,878,766
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$9,500
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$6,053,638
Unearned Premium$5,619,401
Loss Reserve$2,333,283
Loss Adjustment Expense Reserve$721,000
Outstanding Checks to be Escheated$271,247
Advance Premium$148,804
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 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, Line 6

“Association with Members 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, Line 7A

“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, Line 11B

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

Part VI, Line 12C

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

Part VI, 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
Signed
2021-05-13
Discuss with paid preparer
No

Organization Details

Principal Officer
D Jane Howard-Carlson
Formed
1968
Legal Domicile
Mi
Voting Board Members
18
Independent Board Members
18
Employees
33
Volunteers
0
Supplemental Narrative

Additional Explanations

Part XI, Line 9

“| Description:, Explanation:, Amount:| Current Year Change, Non Admitted Assets, $-169466| Current Year Change, Unrecognized Post Retirement Obligations, $-106976| Assessments Refund Current Year, Assessments, $-20700000|”

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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IRS990/Form990PartVIISectionAGrp/PersonNm0Katie Ann Jones
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/PersonNm7David Kramer
IRS990/Form990PartVIISectionAGrp/PersonNm8Michael C Levine
IRS990/Form990PartVIISectionAGrp/PersonNm9Linda Maar
IRS990/Form990PartVIISectionAGrp/PersonNm10Amy Mass
IRS990/Form990PartVIISectionAGrp/PersonNm11Daniel J Oshea
IRS990/Form990PartVIISectionAGrp/PersonNm12Andrea Phillips
IRS990/Form990PartVIISectionAGrp/PersonNm13Solon Phillips
IRS990/Form990PartVIISectionAGrp/PersonNm14Mark Pinkerton
IRS990/Form990PartVIISectionAGrp/PersonNm15Steve Rock
IRS990/Form990PartVIISectionAGrp/PersonNm16Muddasar Tawakkul
IRS990/Form990PartVIISectionAGrp/PersonNm17Jeffrey O Williams
IRS990/Form990PartVIISectionAGrp/PersonNm18David Walker
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
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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
IRS990/Form990PartVIISectionAGrp/TitleTxt16Board of Governors
IRS990/Form990PartVIISectionAGrp/TitleTxt17Board of Governors
IRS990/Form990PartVIISectionAGrp/TitleTxt18Board of Governors
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IRS990/GamingActivitiesInd0false
IRS990/GamingDirectExpensesAmt00
IRS990/GamingGrossIncomeAmt00
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IRS990/GovernmentGrantsAmt00
IRS990/GrantAmt010600
IRS990/GrantsPayableGrp/BOYAmt00
IRS990/GrantsPayableGrp/EOYAmt00
IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt0400
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt0400
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt010200
IRS990/GrantsToDomesticOrgsGrp/TotalAmt010200
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IRS990/GrantsToOrganizationsInd0true
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossAmountSalesAssetsGrp/OtherAmt00
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt020411654
IRS990/GrossReceiptsAmt033027920
IRS990/GrossRentsGrp/PersonalAmt00
IRS990/GrossRentsGrp/RealAmt00
IRS990/GrossSalesOfInventoryAmt00
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IRS990/IncludeFIN48FootnoteInd0false
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IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
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IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt00
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IRS990/InformationTechnologyGrp/TotalAmt0640761
IRS990/InsuranceGrp/FundraisingAmt00
IRS990/InsuranceGrp/ManagementAndGeneralAmt00
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IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InterestGrp/FundraisingAmt00
IRS990/InterestGrp/ManagementAndGeneralAmt00
IRS990/InterestGrp/ProgramServicesAmt00
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IRS990/InventoriesForSaleOrUseGrp/BOYAmt00
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
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IRS990/InvestmentsProgramRelatedGrp/EOYAmt00
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IRS990/InvestmentsPubTradedSecGrp/EOYAmt033878255
IRS990/IRPDocumentCnt0226
IRS990/IRPDocumentW2GCnt00
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IRS990/LandBldgEquipBasisNetGrp/EOYAmt098162
IRS990/LandBldgEquipCostOrOtherBssAmt0850359
IRS990/LegalDomicileStateCd0MI
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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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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$36,478,347
Liabilities
$15,430,415
Net assets
$21,047,932
Revenue
$15,942,154
Expenses
$10,878,766
Net income
$5,063,388
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
2020Detailed filing. Detailed filing data is available for this year.$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
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