Civic Intelligence

Michigan Basic Property Insurance Association

990 • Fiscal year 2022 • EIN 38-1956049

Jan 01, 2022 to Dec 31, 2022 • Filed on May 12, 2023

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

94th percentile

0.85x

Higher debt load relative to assets than 94% of similar nonprofits.

2022 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

88th percentile

1.12x

Higher debt load relative to revenue than 88% of similar nonprofits.

2022 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2022

Net Margin

69th percentile

14%

Higher net margin than 69% of similar nonprofits.

2022 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

8th percentile

$2,850

Higher top officer pay than 8% of similar nonprofits.

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

2022 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2022

Asset Growth

1st percentile

-34%

Faster asset growth than 1% of similar nonprofits.

2022 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

16th percentile

-11%

Faster revenue growth than 16% of similar nonprofits.

2022 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$16,573,320

Down $8,640,161 (-34%) from 2021

Net Assets

Down

$2,466,693

Down $9,080,019 (-79%) from 2021

Liabilities

Up

$14,106,627

Up $439,858 (+3.2%) from 2021

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin69th percentile

Revenue

Down

$12,632,616

Down $1,638,286 (-11%) from 2021

Expenses

Up

$10,898,573

Up $573,038 (+5.5%) from 2021

Net Income

Down

$1,734,043

Down $2,211,324 (-56%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth1st 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

2022

Assets$16,573,320
Liabilities$14,106,627
Net Assets$2,466,693
Open 2022 Filing

Operations Trend

Revenue Growth16th 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

2022

Revenue$12,632,616
Expenses$10,898,573
Net Income$1,734,043
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 12, 2023
Return Version
2022v5.0
Gross Receipts
$21,115,020
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$24,688,645$14,447,328▼ $10,241,317
Rtn Earn Endowment Incm Other Fnds$11,546,712$2,466,693▼ $9,080,019
Accounts Receivable$1,386,716$1,783,474▲ $396,758
Savings and Temporary Cash Investments$2,389,771$1,535,450▼ $854,321
Land, Buildings, and Equipment, Net$88,233$36,935▼ $51,298
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→ $0
Cash and Non-Interest-Bearing Accounts$-3,344,510$-1,245,871▲ $2,098,639
Total Assets$25,213,481$16,573,320▼ $8,640,161
Other Assets Total$4,626$16,004▲ $11,378
Liabilities
Other Liabilities$13,386,604$13,854,324▲ $467,720
Accounts Payable and Accrued Expenses$273,099$248,410▼ $24,689
Escrow Account Liability$7,066$3,893▼ $3,173
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$13,666,769$14,106,627▲ $439,858
Net Assets / Fund Balance
Total Net Assets Fund Balance$11,546,712$2,466,693▼ $9,080,019
Total Liabilities and Net Assets / Fund Balance$25,213,481$16,573,320▼ $8,640,161

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$36,935$414,851$451,786
Compensation and Service Providers
Top Officer Pay8th percentile

Employees

NameTitleBaseTotal
Muddasar TawakkulBoard of Governors$2,850$2,850
David FieldBoard of Governors$2,250$2,250
Steve RockBoard of Governors$1,650$1,650
Leroy BosticBoard of Governors$1,350$1,350
Solon PhillipsBoard of Governors$1,200$1,200
Michael C LevineBoard of Governors$600$600
Jeffrey O WilliamsBoard of Governors$450$450
Eugene Hawkins IIIBoard of Governors$150$150

Board Members and Trustees

NameTitle
Christopher ClevelandBoard of Governors
Daniel J OsheaBoard of Governors
Janie HathawayBoard of Governors
Katie MacGuidwinBoard of Governors
Linda MaarBoard of Governors
Lisa HicksBoard of Governors
Mark PinkertonBoard of Governors
Michael WykesBoard of Governors
Randy McKeeBoard of Governors
Timothy DillahuntBoard of Governors

Highest Paid Contractors

ContractorServicesLocationCompensation
Fabian Sklar King Liss PCLegal Services33450 West Twelve Mile Road, Farmington Hills, MI 48331$131,233
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$10,433,650
Investment Income
$2,196,256
Other Revenue
$2,710
All Other Contributions
$0
Change in Net Assets
$1,734,043

Audited Revenue Reconciliation

Revenue per Audited Statements
$12,632,616
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$12,632,616
Total Revenue per Form 990
$12,632,616
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$8,262,334
Salaries, Compensation, and Employee Benefits$2,620,839
Grants and Similar Amounts Paid$15,400
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,145,913$0$0$2,145,913
Information Technology$617,519$0$0$617,519
Other Employee Benefits$309,106$0$0$309,106
Occupancy$286,084$0$0$286,084
Other Expenses$241,525$0$0$241,525
Fees for Services Accounting$196,965$0$0$196,965
Office Expenses$173,773$0$0$173,773
Payroll Taxes$155,320$0$0$155,320
All Other Expenses$147,737$0$0$147,737
Depreciation Depletion$84,406$0$0$84,406
Insurance$41,111$0$0$41,111
Fees for Services Other$32,715$0$0$32,715
Travel$27,413$0$0$27,413
Fees for Service Investment Mgmnt Fees$27,169$0$0$27,169
Grants to Domestic Orgs$15,400--$15,400
Current Officers, Directors, Trustees, and Key Employees$10,500$0$0$10,500
Fees for Services Legal$7,085$0$0$7,085
Conferences and Meetings$3,450$0$0$3,450
Total Functional Expenses$10,898,573$0$0$10,898,573

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$10,898,573
Total Expenses per Audited Statements$10,898,573
Total Expenses per Form 990$10,898,573
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Detroit Crime CommissionDetroit, MI501(c)(3)Reward Program$13,000
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$5,440,686
Underwriting Accrual$3,610,190
Outstanding Checks to be Escheated$1,920,492
Loss Reserve$1,791,406
Loss Adjustment Expense Reserve$942,000
Advance Premium$149,550
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 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
% Michelle Mooradian
Phone
3138777400
Address
27555 FARMINGTON ROAD SUITE 315, Farmington Hills, MI 48334

Signing Officer

Name
Rachael Yoes
Title
Financial & Information Svcs. Mgr.
Signed
2023-05-12
Discuss with paid preparer
No

Organization Details

Principal Officer
Michelle Mooradian
Formed
1968
Legal Domicile
Mi
Voting Board Members
18
Independent Board Members
18
Employees
24
Volunteers
0
Supplemental Narrative

Additional Explanations

Part XI, Line 9

“| Description:, Explanation:, Amount:| Non Admitted Assets, Current Year Change, $45326| Unrecognized Post Retirement Obligations, Current Year Change, $1545111| Assessments, Assessments Refund Current Year, $-7775057|”

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/PersonNm10Solon Phillips
IRS990/Form990PartVIISectionAGrp/PersonNm11Mark Pinkerton
IRS990/Form990PartVIISectionAGrp/PersonNm12Steve Rock
IRS990/Form990PartVIISectionAGrp/PersonNm13Muddasar Tawakkul
IRS990/Form990PartVIISectionAGrp/PersonNm14Jeffrey O Williams
IRS990/Form990PartVIISectionAGrp/PersonNm15Eugene Hawkins III
IRS990/Form990PartVIISectionAGrp/PersonNm16Michael Wykes
IRS990/Form990PartVIISectionAGrp/PersonNm17Timothy Dillahunt
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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/TitleTxt13Board of Governors
IRS990/Form990PartVIISectionAGrp/TitleTxt14Board of Governors
IRS990/Form990PartVIISectionAGrp/TitleTxt15Board of Governors
IRS990/Form990PartVIISectionAGrp/TitleTxt16Board of Governors
IRS990/Form990PartVIISectionAGrp/TitleTxt17Board of Governors
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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

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$16,573,320
Liabilities
$14,106,627
Net assets
$2,466,693
Revenue
$12,632,616
Expenses
$10,898,573
Net income
$1,734,043
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
2022Detailed filing. Detailed filing data is available for this year.$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
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