Michigan Basic Property Insurance Association

Nonprofit profile at a glance

EIN
381956049
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Farmington Hills, MI, USA
Phone
3138777400
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$15,467,768
Expenses
$11,065,743
Assets
$17,654,453
Liabilities
$14,287,344

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

17 people listed

Highest reported compensation

  • Muddasar Tawakkul (Board of Governors): $2,400 total reported compensation
  • David Field (Board of Governors): $1,500 total reported compensation
  • Steve Rock (Board of Governors): $1,500 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of Michigan Basic Property Insurance Association is to provide prompt courteous and efficient service to our customers; be aware of the responsibility we have to our member companies and policyholders to utilize resources effectively; provide a work environment that recognizes creativity and promotes teamwork; and be sensitive to the needs of the community.

What it reported doing in 2025

The issuance of basic property insurance and home property insurance policies is the sole business related activity of the association. Generally the policies are issued for high-risk insurers. Member property insurance companies participate collectively through their mandatory membership in the association. Assessments paid to the association by member companies are covered through adjustments to the rates for the voluntary market.

Operating model

Revenue model
Other-operating. 97% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 64
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73.2%; rating input score 73
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • 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; 64th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 28.5%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 1.6; rating input score 44; 44th percentile among comparable filings
  • Liabilities to assets ratio: 0.81; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 0.1%; rating input score 92; 92nd percentile among comparable filings

Growth

  • Program expense growth: -6.8% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: -7.8% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -5.7% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 73.2% of revenue deployed · 100% of spending went to programs
  • Governance: 17 of 17 board members independent · 5 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $11.1M in reported program spending
  • Leadership: top reported pay $2K · 17 people listed
  • Consistency: 43 of 43 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 16 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 44/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.