Form 990 for tax year 2023
Filed by MICHIGAN AUTOMOBILE INSURANCE PLACEMENT FACILITY.
Totals
- Total revenue
- $18,880,748
- Total expenses
- $23,195,140
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $19,162,646
- Investment income
- -$284,131
- Other revenue
- $2,233
- Total assets, end of year
- $84,840,333
- Total liabilities, end of year
- $61,215,884
- Net assets or fund balances, end of year
- $23,624,449
- 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 $14,985,345 · unrelated business $0 · excluded $0
-
2b · Program service revenue: Assigned Claims Service Income
total $4,177,301 · unrelated business $0 · excluded $0
-
3 · Investment income
total $1,224,133 · unrelated business $0 · excluded $0
-
7a · Gross sales of assets other than inventory
securities $56,676,268
-
7b · Less cost or other basis and sales expenses
securities $58,184,532
-
7c · Gain or loss
securities -$1,508,264
-
7d · Net gain or loss
total -$1,508,264 · related or exempt -$1,508,264 · unrelated business $0 · excluded $0
-
11a · Other revenue: Misc.
total $2,233 · related or exempt $2,233 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$2,233
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $342,792 · program services $0 · management and general $0 · fundraising $0
-
7 · Other salaries and wages
total $2,858,291 · program services $0 · management and general $0 · fundraising $0
-
8 · Pension plan contributions
total $292,444 · program services $0 · management and general $0 · fundraising $0
-
9 · Other employee benefits
total $349,169 · program services $0 · management and general $0 · fundraising $0
-
10 · Payroll taxes
total $3,528 · program services $0 · management and general $0 · fundraising $0
-
11a · Fees: management
total $213,726 · program services $0 · management and general $0 · fundraising $0
-
11b · Fees: legal
total $59,661 · program services $0 · management and general $0 · fundraising $0
-
13 · Office expenses
total $59,304 · program services $0 · management and general $0 · fundraising $0
-
14 · Information technology
total $532,158 · program services $0 · management and general $0 · fundraising $0
-
16 · Occupancy
total $1,011,417 · program services $0 · management and general $0 · fundraising $0
-
17 · Travel
total $5,085 · program services $0 · management and general $0 · fundraising $0
-
23 · Insurance
total $131,041 · program services $0 · management and general $0 · fundraising $0
-
24a · Other expenses: Losses
total $8,981,028 · program services $0 · management and general $0 · fundraising $0
-
24b · Other expenses: Servicing Carrier Fees
total $3,130,477 · program services $0 · management and general $0 · fundraising $0
-
24c · Other expenses: Loss Adjustment Fees
total $2,653,540 · program services $0 · management and general $0 · fundraising $0
-
24d · Other expenses: Assigned Claims Plan Assessment
total $1,163,298 · program services $0 · management and general $0 · fundraising $0
-
24e · All other expenses
total $1,408,181 · program services $0 · management and general $0 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year -$282,204 · end of year -$171,049
-
2 · Savings and temporary cash investments
beginning of year $27,966,177 · end of year $18,855,639
-
4 · Accounts receivable
beginning of year $20,764,592 · end of year $25,205,226
-
11 · Investments: publicly traded securities
beginning of year $48,408,555 · end of year $40,639,181
-
15 · Other assets
beginning of year $293,882 · end of year $311,336
-
17 · Accounts payable and accrued expenses
beginning of year $16,186,555 · end of year $2,396,377
-
25 · Other liabilities
beginning of year $58,543,127 · end of year $58,819,507
-
31 · Retained earnings, endowment or other funds
beginning of year $22,421,320 · end of year $23,624,449
Mission and programs · 2023
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 2023 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
- $495
- From this org
- $495
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Ray Moulden
Gov Comm Member
- Total calculated
- $1,032
- From this org
- $1,032
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Dr George Goff
Gov Comm Member
- Total calculated
- $509
- From this org
- $509
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Robert Macdonald
Gov Comm Member
- Total calculated
- $495
- From this org
- $495
- From related orgs
- $0
- Other
- $0
- Hours/week
- 1
-
Kimberly Bezy
Executive Director
- Total calculated
- $351,777
- From this org
- $294,066
- From related orgs
- $0
- Other
- $57,711
- Hours/week
- 37.5
Schedule J breakdown matched by us
- Base
- $246,869
- Bonus
- $47,198
- Other
- $0
- Deferred
- $37,611
- Nontaxable benefits
- $22,175
- Filer's total
- $353,853
-
Holli LaJoice
Director of Assigned Claims
- Total calculated
- $209,091
- From this org
- $164,743
- From related orgs
- $0
- Other
- $44,348
- Hours/week
- 37.5
Schedule J breakdown matched by us
- Base
- $144,997
- Bonus
- $19,746
- Other
- $0
- Deferred
- $22,840
- Nontaxable benefits
- $22,664
- Filer's total
- $210,247
-
Bret Scott
Operations Manager
- Total calculated
- $178,611
- From this org
- $138,296
- From related orgs
- $0
- Other
- $40,315
- Hours/week
- 37.5
Schedule J breakdown matched by us
- Base
- $125,334
- Bonus
- $12,962
- Other
- $0
- Deferred
- $19,001
- Nontaxable benefits
- $22,136
- Filer's total
- $179,433
-
Cindie Dulaney
Director of Finance & Administration
- Total calculated
- $161,105
- From this org
- $127,578
- From related orgs
- $0
- Other
- $33,527
- Hours/week
- 37.5
Schedule J breakdown matched by us
- Base
- $127,578
- Bonus
- $0
- Other
- $0
- Deferred
- $13,033
- Nontaxable benefits
- $21,372
- Filer's total
- $161,983
-
Colleen Walker
Litigation Manager
- Total calculated
- $134,461
- From this org
- $117,846
- From related orgs
- $0
- Other
- $16,615
- Hours/week
- 37.5
Schedule J breakdown matched by us
- Base
- $110,496
- Bonus
- $7,350
- Other
- $0
- Deferred
- $16,215
- Nontaxable benefits
- $1,140
- Filer's total
- $135,201
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
- 2023
- Filed
- 15 October 2024
- IRS schema version
- 2023v5.1
- Source object
- 202413079349300801
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.