BAC of Michigan Health and Welfare Fund

Nonprofit profile at a glance

EIN
382073681
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Troy, MI, USA
Phone
2488286000
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$28,700,107
Expenses
$26,174,955
Assets
$29,305,455
Liabilities
$10,567,358

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

21 people listed

Highest reported compensation

  • Paul Dunford (TRUSTEE): $195,744 total reported compensation
  • BRETT GIERAK (CHAIRMAN): $174,049 total reported compensation
  • CHAD MORRISON (TRUSTEE): $155,777 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See schedule o

What it reported doing in 2024

The Fund provides for health, medical, dental and vision benefits to eligible participants and their dependents.

Operating model

Revenue model
Earned-program. 97% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 91% of its reported program spending for member benefits.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and program spending has grown recently. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 59
  • Accountability: 36
  • Sustainability: 56
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.7%; rating input score 89
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 8th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 31.2%; rating input score 31; 7th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 8.8%; rating input score 65; 65th percentile among comparable filings
  • Total-asset coverage ratio: 1.12; rating input score 40; 40th percentile among comparable filings
  • Liabilities to assets ratio: 0.36; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 2.1%; rating input score 76; 76th percentile among comparable filings

Growth

  • Program expense growth: 10.7% per year; rating input score 100; 73rd percentile among comparable filings
  • Revenue growth: 10.7% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 10.3% per year; rating input score 100; 66th percentile among comparable filings

Details

  • Where the money goes: 88.7% of revenue deployed · 100% of spending went to programs
  • Governance: 5 of 16 board members independent · 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $26.2M in reported program spending
  • Leadership: top reported pay $196K · 21 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 27 of 28 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Independent voting board scored 31/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 40/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.