Michigan Laborers Vacation Fund
Nonprofit profile at a glance
- EIN
- 382106864
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Lansing, MI, USA
- Phone
- 8776452267
- Rating
- 72
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $61,054,118
- Expenses
- $60,409,734
- Assets
- $32,220,852
- Liabilities
- $29,502,250
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
18 people listed
Highest reported compensation
- ALEX ZUREK (SECRETARY): $362,987 total reported compensation
- GENE ALLESSANDRINI Sr (TRUSTEE): $344,680 total reported compensation
- ARLANDAR WASHINGTON (TRUSTEE): $276,956 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Payment of vacation benefits
Operating model
- Revenue model
- Earned-program. 98% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Member-benefit provider. The nonprofit used 100% of its reported program spending for member benefits.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. 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: 87
- Transparency & Controls: 60
- Accountability: 60
- Sustainability: 34
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 97.3%; rating input score 97
- Program expense ratio: 99.2%; rating input score 99
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th 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: 46.7%; rating input score 47; 12th percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- 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: 1.1%; rating input score 38; 38th percentile among comparable filings
- Total-asset coverage ratio: 0.53; rating input score 20; 20th percentile among comparable filings
- Liabilities to assets ratio: 0.92; rating input score 11; 11th percentile among comparable filings
- Officer compensation ratio: 1.1%; rating input score 73; 73rd percentile among comparable filings
Growth
- Program expense growth: 12.8% per year; rating input score 100; 83rd percentile among comparable filings
- Revenue growth: 10.9% per year; rating input score 100; 80th percentile among comparable filings
- Asset growth: 10.3% per year; rating input score 100; 71st percentile among comparable filings
Details
- Where the money goes: 97.3% of revenue deployed · 99.2% of spending went to programs
- Governance: 7 of 15 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $59.9M in reported program spending
- Leadership: top reported pay $363K · 18 people listed · 0 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $301K reported
- Consistency: 22 of 22 current checks pass
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 14 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Related organizations: 6 filed related-organization links
- 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 47/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Moderate — Sustainability: Operating margin scored 38/100.
- High — Sustainability: Total-asset coverage ratio scored 20/100.
- High — Sustainability: Liabilities to assets ratio scored 11/100.