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Nonprofiteer
← MICHIGAN AUTOMOBILE INSURANCE PLACEMENT FACILITY

Form 990 for tax year 2022

Filed by MICHIGAN AUTOMOBILE INSURANCE PLACEMENT FACILITY.

Totals

Total revenue
$24,306,711
Total expenses
$20,553,385
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$24,405,972
Investment income
-$99,261
Other revenue
$0
Total assets, end of year
$97,151,002
Total liabilities, end of year
$74,729,682
Net assets or fund balances, end of year
$22,421,320
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: Premiums Earned

    total $21,124,220 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Assigned Claims Service Income

    total $3,281,752 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $927,390 · unrelated business $0 · excluded $0

  • 7a · Gross sales of assets other than inventory

    securities $38,665,965

  • 7b · Less cost or other basis and sales expenses

    securities $39,692,616

  • 7c · Gain or loss

    securities -$1,026,651

  • 7d · Net gain or loss

    total -$1,026,651 · related or exempt -$1,026,651 · unrelated business $0 · excluded $0

  • 11a · Other revenue: Misc.

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11b · Other revenue: Servicing Carrier Write Off

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $325,687 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $2,496,987 · program services $0 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $223,558 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $321,513 · program services $0 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $206,460 · program services $0 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $216,500 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $28,052 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $87,109 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $68,387 · program services $0 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $646,297 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $240,117 · program services $0 · management and general $0 · fundraising $0

  • 17 · Travel

    total $7,647 · program services $0 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $184,324 · program services $0 · management and general $0 · fundraising $0

  • 24a · Other expenses: Loss Adjustment Expenses

    total $1,491,260 · program services $0 · management and general $0 · fundraising $0

  • 24b · Other expenses: Losses

    total $6,632,782 · program services $0 · management and general $0 · fundraising $0

  • 24c · Other expenses: Servicing carrier fees

    total $4,214,290 · program services $0 · management and general $0 · fundraising $0

  • 24d · Other expenses: Commissions

    total $837,268 · program services $0 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $2,325,147 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $245,659 · end of year -$282,204

  • 2 · Savings and temporary cash investments

    beginning of year $15,951,457 · end of year $27,966,177

  • 4 · Accounts receivable

    beginning of year $29,754,701 · end of year $20,764,592

  • 11 · Investments: publicly traded securities

    beginning of year $49,573,789 · end of year $48,408,555

  • 15 · Other assets

    beginning of year $217,529 · end of year $293,882

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,301,151 · end of year $16,186,555

  • 25 · Other liabilities

    beginning of year $77,264,639 · end of year $58,543,127

  • 31 · Retained earnings, endowment or other funds

    beginning of year $15,177,345 · end of year $22,421,320

Mission and programs · 2022

Mission

See attached note.

  • See attached note.

  • The Michigan Assigned Claims Plan (MACP) provides Personal Injury Protection benefits required by Michigan No Fault Statute to eligible parties that sustained injuries resulting from a motor vehicle accident. The MACP completes an initial determination of eligibility for each claim and eligible claims are then assigned to a Servicing Insurer to make final determination of coverage. If the injured party is eligible for benefits, the assigned Servicing Insurer processes the claim on behalf of the MACP

As filed on the 2022 return.

Listed in Part VII

  • Allstate Ins Co

    Gov Comm Member

    Total calculated
    $0
    Hours/week
    1

  • Amerisure Mutual Ins Co

    Gov Comm Member

    Total calculated
    $0
    Hours/week
    1

  • Auto Club Ins Association

    Gov Comm Member

    Total calculated
    $0
    Hours/week
    1

  • Auto-Owners Ins Co

    Gov Comm Member

    Total calculated
    $0
    Hours/week
    1

  • Hanover Ins Co

    Gov Comm Member

    Total calculated
    $0
    Hours/week
    1

  • Farm Bureau Ins

    Gov Comm Member

    Total calculated
    $0
    Hours/week
    1

  • State Farm Mutual Auto Ins

    Gov Comm Member

    Total calculated
    $0
    Hours/week
    1

  • Will Lemanski

    Gov Comm Member

    Total calculated
    $330
    From this org
    $330
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Ray Moulden

    Gov Comm Member

    Total calculated
    $495
    From this org
    $495
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • John Lindemayer

    Gov Comm Member

    Total calculated
    $660
    From this org
    $660
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Robert Macdonald

    Gov Comm Member

    Total calculated
    $820
    From this org
    $820
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Kimberly Bezy

    Executive Director

    Total calculated
    $338,821
    From this org
    $277,360
    From related orgs
    $0
    Other
    $61,461
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $231,010
    Bonus
    $46,350
    Other
    $0
    Deferred
    $41,320
    Nontaxable benefits
    $23,166
    Filer's total
    $341,846

  • Holli LaJoice

    Director of Assigned Claims

    Total calculated
    $193,730
    From this org
    $153,376
    From related orgs
    $0
    Other
    $40,354
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $137,296
    Bonus
    $16,080
    Other
    $0
    Deferred
    $22,551
    Nontaxable benefits
    $20,007
    Filer's total
    $195,934

  • Bret Scott

    Operations Manager

    Total calculated
    $151,418
    From this org
    $116,644
    From related orgs
    $0
    Other
    $34,774
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $106,287
    Bonus
    $10,357
    Other
    $0
    Deferred
    $16,133
    Nontaxable benefits
    $20,223
    Filer's total
    $153,000

  • Colleen Walker

    Litigation Manager

    Total calculated
    $116,159
    From this org
    $100,967
    From related orgs
    $0
    Other
    $15,192
    Hours/week
    37.5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
9 November 2023
IRS schema version
2022v5.0
Source object
202333199349302403

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