Civic Intelligence

Michigan Basic Property Insurance Association

990 • Fiscal year 2021 • EIN 38-1956049

Jan 01, 2021 to Dec 31, 2021 • Filed on May 12, 2022

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

85th percentile

0.54x

Higher debt load relative to assets than 85% of similar nonprofits.

2021 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2021

Liabilities / Revenue

79th percentile

0.96x

Higher debt load relative to revenue than 79% of similar nonprofits.

2021 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2021

Net Margin

80th percentile

28%

Higher net margin than 80% of similar nonprofits.

2021 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2021

Top Officer Pay

7th percentile

$2,700

Higher top officer pay than 7% of similar nonprofits.

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

2021 filings • 501(c)6 • $25M-$50M nonprofits • Source year 2021

Asset Growth

2nd percentile

-31%

Faster asset growth than 2% of similar nonprofits.

2021 filings • 501(c)6 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Revenue Growth

19th percentile

-10%

Faster revenue growth than 19% of similar nonprofits.

2021 filings • 501(c)6 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets85th percentile

Assets

Down

$25,213,481

Down $11,264,866 (-31%) from 2020

Net Assets

Down

$11,546,712

Down $9,501,220 (-45%) from 2020

Liabilities

Down

$13,666,769

Down $1,763,646 (-11%) from 2020

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin80th percentile

Revenue

Down

$14,270,902

Down $1,671,252 (-10%) from 2020

Expenses

Down

$10,325,535

Down $553,231 (-5.1%) from 2020

Net Income

Down

$3,945,367

Down $1,118,021 (-22%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth2nd 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

2021

Assets$25,213,481
Liabilities$13,666,769
Net Assets$11,546,712
Open 2021 Filing

Operations Trend

Revenue Growth19th 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

2021

Revenue$14,270,902
Expenses$10,325,535
Net Income$3,945,367
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 12, 2022
Return Version
2021v4.0
Gross Receipts
$24,527,529
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$33,878,255$24,688,645▼ $9,189,610
Rtn Earn Endowment Incm Other Fnds$21,047,932$11,546,712▼ $9,501,220
Savings and Temporary Cash Investments$3,731,907$2,389,771▼ $1,342,136
Accounts Receivable$1,522,960$1,386,716▼ $136,244
Land, Buildings, and Equipment, Net$98,162$88,233▼ $9,929
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→ $0
Cash and Non-Interest-Bearing Accounts$-2,762,865$-3,344,510▼ $581,645
Total Assets$36,478,347$25,213,481▼ $11,264,866
Other Assets Total$9,928$4,626▼ $5,302
Liabilities
Other Liabilities$15,147,373$13,386,604▼ $1,760,769
Accounts Payable and Accrued Expenses$282,097$273,099▼ $8,998
Escrow Account Liability$945$7,066▲ $6,121
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$15,430,415$13,666,769▼ $1,763,646
Net Assets / Fund Balance
Total Net Assets Fund Balance$21,047,932$11,546,712▼ $9,501,220
Total Liabilities and Net Assets / Fund Balance$36,478,347$25,213,481▼ $11,264,866

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$88,233$791,660$879,893
Buildings$0$0$0
Land$0-$0
Equipment$0$0$0
Leasehold Improvements$0$0$0
Compensation and Service Providers
Top Officer Pay7th percentile

Employees

NameTitleBaseTotal
Muddasar TawakkulBoard of Governors$2,700$2,700
David FieldBoard of Governors$1,350$1,350
Leroy BosticBoard of Governors$1,350$1,350
Solon PhillipsBoard of Governors$1,350$1,350
Steve RockBoard of Governors$1,350$1,350
Michael C LevineBoard of Governors$1,200$1,200
Jeffrey O WilliamsBoard of Governors$600$600

Board Members and Trustees

NameTitle
Andrea PhillipsBoard of Governors
Christopher ClevelandBoard of Governors
Daniel J OsheaBoard of Governors
Janie HathawayBoard of Governors
Katie MacGuidwinBoard of Governors
Kelly R OttBoard 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
$11,110,974
Investment Income
$3,153,323
Other Revenue
$6,605
All Other Contributions
$0
Change in Net Assets
$3,945,367

Audited Revenue Reconciliation

Revenue per Audited Statements
$14,270,902
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$14,270,902
Total Revenue per Form 990
$14,270,902
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,141,230
Salaries, Compensation, and Employee Benefits$3,176,271
Grants and Similar Amounts Paid$8,034
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,565,935$0$0$2,565,935
Information Technology$627,988$0$0$627,988
Other Employee Benefits$418,064$0$0$418,064
Occupancy$297,787$0$0$297,787
Fees for Services Accounting$220,092$0$0$220,092
Other Expenses$212,760$0$0$212,760
All Other Expenses$188,356$0$0$188,356
Payroll Taxes$181,322$0$0$181,322
Office Expenses$173,697$0$0$173,697
Depreciation Depletion$86,106$0$0$86,106
Fees for Service Investment Mgmnt Fees$40,396$0$0$40,396
Insurance$35,985$0$0$35,985
Fees for Services Other$33,514$0$0$33,514
Fees for Services Legal$20,956$0$0$20,956
Current Officers, Directors, Trustees, and Key Employees$10,950$0$0$10,950
Conferences and Meetings$10,457$0$0$10,457
Grants to Domestic Orgs$7,793--$7,793
Travel$1,234$0$0$1,234
Grants to Domestic Individuals$241--$241
Total Functional Expenses$10,325,535$0$0$10,325,535

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$10,325,535
Total Expenses per Audited Statements$10,325,535
Total Expenses per Form 990$10,325,535
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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$5,566,894
Unearned Premium$5,400,687
Loss Reserve$1,588,402
Loss Adjustment Expense Reserve$507,000
Outstanding Checks to be Escheated$185,389
Advance Premium$136,208
Unapplied Cash$2,024
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, 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, 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 11A

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

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 an 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
2022-05-12
Discuss with paid preparer
No

Organization Details

Principal Officer
D Jane Howard-Carlson
Formed
1968
Legal Domicile
Mi
Voting Board Members
17
Independent Board Members
17
Employees
28
Volunteers
0
Supplemental Narrative

Additional Explanations

Part XI, Line 9

“| Description:, Explanation:, Amount:| Current Year Change, Non Admitted Assets, $32087| Current Year Change, Unrecognized Post Retirement Obligations, $164545| Assessments Refund Current Year, Assessments, $-12700000|”

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/PersonNm0Randy McKee
IRS990/Form990PartVIISectionAGrp/PersonNm1Daniel J Oshea
IRS990/Form990PartVIISectionAGrp/PersonNm2Leroy Bostic
IRS990/Form990PartVIISectionAGrp/PersonNm3Christopher Cleveland
IRS990/Form990PartVIISectionAGrp/PersonNm4David Field
IRS990/Form990PartVIISectionAGrp/PersonNm5Janie Hathaway
IRS990/Form990PartVIISectionAGrp/PersonNm6Lisa Hicks
IRS990/Form990PartVIISectionAGrp/PersonNm7Michael C Levine
IRS990/Form990PartVIISectionAGrp/PersonNm8Linda Maar
IRS990/Form990PartVIISectionAGrp/PersonNm9Katie MacGuidwin
IRS990/Form990PartVIISectionAGrp/PersonNm10Kelly R Ott
IRS990/Form990PartVIISectionAGrp/PersonNm11Andrea Phillips
IRS990/Form990PartVIISectionAGrp/PersonNm12Solon Phillips
IRS990/Form990PartVIISectionAGrp/PersonNm13Mark Pinkerton
IRS990/Form990PartVIISectionAGrp/PersonNm14Steve Rock
IRS990/Form990PartVIISectionAGrp/PersonNm15Muddasar Tawakkul
IRS990/Form990PartVIISectionAGrp/PersonNm16Jeffrey O Williams
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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
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IRS990/GrantsToDomesticIndividualsGrp/TotalAmt0241
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt07793
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IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
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IRS990/GrossReceiptsAmt024527529
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IRS990/GrossRentsGrp/RealAmt00
IRS990/GrossSalesOfInventoryAmt00
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IRS990/InfoInScheduleOPartXIInd0X
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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

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$25,213,481
Liabilities
$13,666,769
Net assets
$11,546,712
Revenue
$14,270,902
Expenses
$10,325,535
Net income
$3,945,367
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
2021Detailed filing. Detailed filing data is available for this year.$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
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. 2021 filings • 501(c)6 • $25M-$50M nonprofits