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Michigan Workers Compensation Placement Facility

Not tax-deductible

Livonia, MI501(c)(6)EIN 38-2435776

Responsible for the assignment of workers' compensation policies among michigan carriers

$734K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $640K a year · 21% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$734K
to officers and key staff · 31% of spending
Concern: pay to officers and key staff is 31% of spending; over 30%.
Pt VII · Sec A
Cash reserves
12 mo
of spending, in cash
Looks good: 11.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.2M
80% of total assets
Worth a look: liabilities are 80% of assets; over 65%.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.1M
-4% vs prior year
Spent
$2.4M
Net assets
$540K
By yearFY2020–FY2024
Revenue
$3.1M
FY2024▼ -4%
Revenue by fiscal year
FY2020$3.1M
FY2021$2.9M
FY2022$2.8M
FY2023$3.2M
FY2024$3.1M
Expenses
$2.4M
FY2024▲ +7%
Expenses by fiscal year
FY2020$2.4M
FY2021$2.4M
FY2022$2.3M
FY2023$2.2M
FY2024$2.4M
Net assets
$540K
FY2024▼ -33%
Net assets by fiscal year
FY2020$580K
FY2021$294K
FY2022$361K
FY2023$807K
FY2024$540K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1982.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

18 people listed on the 990; $734K paid to officers and key staff.

Part VII, Section A · reportable compensation
$175,358Pt VII · Sec A
Alan Burns
SVP, Chief Actuary
$141,813Pt VII · Sec A
$103,261Pt VII · Sec A
Alex Bedoway
Director, Actuarial & Data Reporting
$95,539Pt VII · Sec A
Paul Lipscomb
VP, Operations
$80,582Pt VII · Sec A
Michael C Tithof
Actuary III
$69,989Pt VII · Sec A
Jayan Thomas
Senior Developer II
$61,794Pt VII · Sec A
Amanda Warner
Board Member
$2,000Pt VII · Sec A
See Michigan Workers Compensation Placement Facility executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Assigns workers' compensation policies among Michigan insurance carriers.

Provided by the organization

This section is blank until Michigan Workers Compensation Placement Facility claims this page.

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1 program service, described in the organization's own filed words · FY2024.
01

The MWCPF (the facility) is primarily focused on reviewing potential insurance applicants and assigning them to one of their contracted servicing carriers consistent with their established quota share.

Pt IX · col B

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By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.1M
Ln 12
Fees for servicesLn 2g$3.0M
Investment incomeLn 3$66K
Money outPt IX
$2.4M
Ln 25
Owns and owesPt X
$540K
net assets · Ln 32
Cash and savingsLn 1–2$2.4M
Total assetsLn 16$2.7M
LiabilitiesLn 26$2.2M
PeoplePt VI, VII
18
listed · VII A
PaidVII A11
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$3.0M
Investment incomeLn 3$66K
Total revenueLn 12$3.1M
Assets in detailPt X, end of year
CashLn 1$2.4M
Cash and savings togetherLn 1–2$2.4M
Total assetsLn 16$2.7M
LiabilitiesLn 26$2.2M
Net assetsLn 32$540K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$2.2M$2.4M
Total assetsLn 16$3.1M$2.7M
LiabilitiesLn 26$2.3M$2.2M
Net assetsLn 32$807K$540K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$452K
Other salaries and wagesLn 7$1.1M
Pension plan contributionsLn 8$168K
Other employee benefitsLn 9$218K
Payroll taxesLn 10$109K
Legal feesLn 11b$11K
Accounting feesLn 11c$24K
Other fees for servicesLn 11g$56K
Office expensesLn 13$18K
Information technologyLn 14$6K
OccupancyLn 16$98K
TravelLn 17$8K
Conferences, conventions and meetingsLn 19$3K
InsuranceLn 23$17K
Other expenses (24a–d)Ln 24$87K
Total functional expensesLn 25$2.4M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $3.1M$2.4M$673K$540K 990 PDF
FY2023 $3.2M$2.2M$939K$807K 990 PDF
FY2022 $2.8M$2.3M$494K$361K 990 PDF
FY2021 $2.9M$2.4M$426K$294K 990 PDF
FY2020 $3.1M$2.4M$668K$580K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $3,066,700 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,000,916$3,000,916
VIII-3 Investment incomeExcluded from tax $65,784$65,784
VIII-12 Total revenueRelated to mission $3,000,916 · Unrelated business $0 · Excluded from tax $65,784$3,066,700
Part IX · Statement of functional expenses $2,393,847 across 15 lines filed
IX-5 Pay of current officers, directors and key staff$451,989
IX-7 Other salaries and wages$1,120,366
IX-8 Pension plan contributions$167,946
IX-9 Other employee benefits$217,657
IX-10 Payroll taxes$109,280
IX-11b Legal fees$10,555
IX-11c Accounting fees$24,063
IX-11g Other fees for services$55,823
IX-13 Office expenses$18,187
IX-14 Information technology$5,779
IX-16 Occupancy$97,573
IX-17 Travel$7,811
IX-19 Conferences, conventions and meetings$2,820
IX-23 Insurance$16,524
IX-24 Other expenses (24a–d)$87,474
IX-25 Total functional expenses$2,393,847
Part X · Balance sheet $2,698,248 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $2,177,657$2,356,239
X-4 Accounts receivableStart of year $845,878$341,090
X-9 Prepaid expenses and deferred chargesStart of year $34,934$919
X-16 Total assetsStart of year $3,058,469$2,698,248
X-17 Accounts payable and accrued expensesStart of year $2,251,911$2,067,440
X-19 Deferred revenue$90,537
X-26 Total liabilitiesStart of year $2,251,911$2,157,977
X-27 Net assets without donor restrictionsStart of year $806,558$540,271
X-32 Total net assets or fund balancesStart of year $806,558$540,271
X-33 Total liabilities and net assetsStart of year $3,058,469$2,698,248
Part XI · Reconciliation of net assets $540,271 net assets at year end
XI-1 Total revenue$3,066,700
XI-2 Total expenses$2,393,847
XI-3 Revenue less expenses$672,853
XI-4 Net assets at start of year$806,558
XI-8 Prior period adjustments−$30,306
XI-9 Other changes in net assets−$908,834
XI-10 Net assets at end of year$540,271

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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