Compensation Advisory Organization of Michigan

Nonprofit profile at a glance

EIN
382435780
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Livonia, MI, USA
Phone
7344629600
Rating confidence
Limited

Official website

Reported finances

Revenue
$3,809,045
Expenses
$2,305,318
Assets
$5,402,044
Liabilities
$3,343,621

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

Leadership & pay

19 people listed

Executive titles in this filing

  • DAVE BRUECKMAN (PRESIDENT)

Highest reported compensation

  • DAVE BRUECKMAN (PRESIDENT): $355,926 total reported compensation
  • ALAN BURNS (SENIOR VP & CHEIF ACTUARY): $293,056 total reported compensation
  • JAYARAJ SUBRAMANIAN (CIO): $212,959 total reported compensation

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

Overview

Mission

Michigan's data collection organization (dco) responsible for collecting workers' compensation policy and claim data for use in promulgating experience modification factors, publishing voluntary loss costs for Michigan's voluntary property & casualty insurance market and establishing rates for residual market. Caom is authorized through the data collection agency to support the voluntary wc market and oversee the residual market which is supported by the Michigan workers' compensation placement facility (mwcpf)

What it reported doing in 2024

Caom supported their data collection responsibilities through their unit statistical reporting and financial data call initiatives. Recently, caom instituted a new indemnity data call in order to obtain detailed policy and claim information on indemnity claims that will facilitate estimating the impact of future legislative changes. In addition to the data collection, caom continues promulgating experience modification factors for the industry. Finally, caom serves as the plan administrator for the Michigan workers' compensation placement facility which provides workers' compensation coverage for business unable to procure insurance through the voluntary market

Operating model

Revenue model
Earned-program. 98% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 71
  • Accountability: 100
  • Sustainability: 64
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 39.5%; rating input score 89; 89th percentile among comparable filings
  • Total-asset coverage ratio: 2.34; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0.62; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 33.9%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: -3.9% per year; rating input score 0; 6th percentile among comparable filings
  • Revenue growth: -0% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: -10.7% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 9 of 9 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $356K · 19 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 4/100.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.