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Michigan Workers Compensation Placement Facility FY2020 filing

Not tax-deductible

Livonia, MI501(c)(6)EIN 38-2435776Revenue $3.1M in FY2020

On file with the IRScaom.com19500 Victor Pkwy Ste 475, 48152-1089 · Livonia, MITax-exempt since Dec 1982

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Responsible for the assignment of workers' Compensation policies among Michigan carriers

88¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2020 · 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
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 6.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.5M
81% of total assets
Concern: liabilities are 81% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 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
Spent
$2.4M
To programs
88%
Net assets
$580K
By yearFY2020–FY2024
Revenue
$3.1M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$3.1M
FY2021$2.9M
FY2022$2.8M
FY2023$3.2M
FY2024$3.1M
Expenses
$2.4M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$2.4M
FY2021$2.4M
FY2022$2.3M
FY2023$2.2M
FY2024$2.4M
Net assets
$580K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$580K
FY2021$294K
FY2022$361K
FY2023$807K
FY2024$540K

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $2.1M Management & general 12% · $275K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

15 people listed on the 990.

Part VII, Section A · reportable compensation
Paul Lipscomb
VP, Operations
$0Pt VII · Sec A
$0Pt VII · Sec A
Alan Burns
SVP, Chief Actuary
$0Pt VII · Sec A
Tracey Alfonsi
Board Member
$0Pt VII · Sec A
Dawn Elzinga
Board Member
$0Pt VII · Sec A
Robert Steinheiser
Board Member
$0Pt VII · Sec A
Tim Trafecanty
Board Member
$0Pt VII · Sec A
Ryan Vaughn
Board Member
$0Pt 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.

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Provided by the organization

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1 program · $2.1M · in their own filed words · FY2020
01

The primary function is to place high risk workers' compensation candidates with various carriers in a pool of carriers in order to spread risk among insurance companies

$2.1Mprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.1M
Ln 12
Fees for servicesLn 2g$3.1M
Money outPt IX
$2.4M
Ln 25
Programscol B$2.1M
Managementcol C$275K
Owns and owesPt X
$580K
net assets · Ln 32
Cash and savingsLn 1–2$1.3M
Total assetsLn 16$3.1M
LiabilitiesLn 26$2.5M
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$3.1M
Total revenueLn 12$3.1M
Assets in detailPt X, end of year
CashLn 1$1.3M
Cash and savings togetherLn 1–2$1.3M
Total assetsLn 16$3.1M
LiabilitiesLn 26$2.5M
Net assetsLn 32$580K
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 FY20End FY20
Cash and savingsLn 1–2$1.3M$1.3M
Total assetsLn 16$3.0M$3.1M
LiabilitiesLn 26$2.8M$2.5M
Net assetsLn 32$170K$580K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$706K$706K
Other salaries and wagesLn 7$737K$527K$210K
Pension plan contributionsLn 8$95K$86K$9K
Other employee benefitsLn 9$289K$264K$25K
Payroll taxesLn 10$108K$96K$13K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$11K$11K
Other fees for servicesLn 11g$228K$228K
Office expensesLn 13$24K$19K$5K
Information technologyLn 14$47K$46K$1K
OccupancyLn 16$99K$87K$12K
TravelLn 17$2K$2K
Conferences, conventions and meetingsLn 19$3K$3K
InsuranceLn 23$6K$6K
Other expenses (24a–d)Ln 24$25K$25K
Total functional expensesLn 25$2.4M$2.1M$275K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $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 Viewing $3.1M$2.4M$668K$580K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $3,052,086 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $2,851,007$3,052,086
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $2,851,007$3,052,086
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,021,385$1,935,675
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $500,995$448,614
I-18 Total expensesPrior year $2,522,380$2,384,289
I-19 Revenue less expensesPrior year $328,627$667,797
Part VI · Governance 7 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $3,052,086 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,052,086$3,052,086
VIII-12 Total revenueRelated to mission $3,052,086 · Unrelated business $0 · Excluded from tax $0$3,052,086
Part IX · Statement of functional expenses $2,384,289 across 15 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $706,480$706,480
IX-7 Other salaries and wagesPrograms $526,926 · Management $209,644$736,570
IX-8 Pension plan contributionsPrograms $86,125 · Management $9,206$95,331
IX-9 Other employee benefitsPrograms $264,349 · Management $24,698$289,047
IX-10 Payroll taxesPrograms $95,559 · Management $12,688$108,247
IX-11b Legal feesPrograms $1,832$1,832
IX-11c Accounting feesPrograms $11,338$11,338
IX-11g Other fees for servicesPrograms $228,196$228,196
IX-13 Office expensesPrograms $18,636 · Management $5,262$23,898
IX-14 Information technologyPrograms $46,024 · Management $1,233$47,257
IX-16 OccupancyPrograms $87,408 · Management $11,919$99,327
IX-17 TravelPrograms $2,449$2,449
IX-19 Conferences, conventions and meetingsPrograms $2,750$2,750
IX-23 InsurancePrograms $6,240$6,240
IX-24 Other expenses (24a–d)Programs $25,327$25,327
IX-25 Total functional expensesPrograms $2,109,639 · Management $274,650 · Fundraising $0$2,384,289
Part X · Balance sheet $3,111,369 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $1,322,779$1,335,860
X-4 Accounts receivableStart of year $1,689,353$1,748,948
X-9 Prepaid expenses and deferred chargesStart of year $1,620$26,561
X-16 Total assetsStart of year $3,013,752$3,111,369
X-17 Accounts payable and accrued expensesStart of year $2,843,624$2,531,801
X-26 Total liabilitiesStart of year $2,843,624$2,531,801
X-27 Net assets without donor restrictionsStart of year $170,128$579,568
X-32 Total net assets or fund balancesStart of year $170,128$579,568
X-33 Total liabilities and net assetsStart of year $3,013,752$3,111,369
Part XI · Reconciliation of net assets $579,568 net assets at year end
XI-1 Total revenue$3,052,086
XI-2 Total expenses$2,384,289
XI-3 Revenue less expenses$667,797
XI-4 Net assets at start of year$170,128
XI-9 Other changes in net assets−$258,357
XI-10 Net assets at end of year$579,568

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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