Michigan Automobile Insurance Placement Facility in Livonia, Michigan (MI)

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Michigan Automobile Insurance Placement Facility
Employer Identification Number (EIN)386090344
Name of OrganizationMichigan Automobile Insurance Placement Facility
In Care of NameAipso
Address17456 Laurel Park 130e, Livonia, MI 48152-3981
ActivitiesUnderwriting municipal insurance
SubsectionBoard of Trade
Ruling Date05/1949
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationAssociation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2008
Assets$10,000,000 to $49,999,999
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$46,920,901
Amount of Income$58,505,558
Form 990 Revenue Amount$16,047,167
National Taxonomy of Exempt Entities (NTEE)Mutual/Membership Benefit Organizations, Other: Mutual Insurance Company or Association



Amount of income in 2008: $58,505,558
Michigan Automobile Insurance Placement Facility:  $58,505,558
Other organizations performing similar types of work:  $267,094

Assets in 2008: $46,920,901
This organization:  $46,920,901
Other organizations performing similar types of work:  $511,820

Expenses in 2006: $20,189,556
This organization:  $20,189,556
Other organizations performing similar types of work:  $10,546,762

Income to expenses ratio in 2006: 1.2
Michigan Automobile Insurance Placement Facility:  1.2
Other organizations performing similar types of work:  1.2

Number of employees in 2006: 9
Michigan Automobile Insurance Placement Facility:  9
Other organizations performing similar types of work:  198

Employees paid over $50,000 in 2006: 11.1%
Michigan Automobile Insurance Placement Facility:  11.1%
Other organizations performing similar types of work:  11.1%

Financial snapshot ($)

Revenue for 2006

Assets at end of 2006

Income-Producing Activities for 2006

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2000200120022003200420052006
Total revenue$41,889,937$40,849,020$65,223,528$63,579,283$42,391,011$30,260,272$24,695,233
Contributions, gifts, grants, and similar amounts received$0$0$0$0$0$0$0
Contributions to donor advised funds$0
Direct public support$0$0$0$0$0$0$0
Indirect public support$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$37,066,889$35,818,582$62,180,212$59,637,119$39,547,577$28,013,715$23,002,675
Membership dues and assessments$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$4,703,503$5,023,414$3,041,723$3,903,095$2,425,670$2,531,938$279,499
Dividends and interest from securities$0$0$0$0$0$0$1,877,312
Net rental income or (loss)$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$0$0$0$0$414,379$-291,036$-467,268
Gross amount from sales of assets other than inventory$0$0$0$0$67,750,725$30,497,748$32,864,700
Less: cost or other basis and sales expenses$0$0$0$0$67,336,346$30,788,784$33,331,968
Net income or (loss) from special events and activities$0$0$0$0$0$0$0
Gross revenue$0$0$0$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0
Other revenue$119,545$7,024$1,593$39,069$3,385$5,655$3,015
Total expenses$48,846,352$39,866,425$100,539,479$66,351,862$42,300,834$14,634,747$20,189,556
Program services$0$0$0$0$0$0$0
Management and general$0$0$0$0$0$0$0
Fundraising$0$0$0$0$0$0$0
Payments to affiliates$0$0$0$0$0$0$0
Net assets or fund balances at end of year$893,242$620,776$-718,425$-2,775,982$1,164,301$1,437,058$1,686,899
Excess or (deficit) for the year$-6,956,415$982,595$-35,315,951$-2,772,579$90,177$15,625,525$4,505,677
Net assets or fund balances at beginning of year$6,609,760$893,242$620,776$-718,425$-2,775,982$1,164,302$1,437,058
Other changes in net assets or fund balances$1,239,897$-1,255,061$33,976,750$715,022$3,850,106$-15,352,769$-4,255,836
Statement of Functional Expenses (for 2006)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$20,189,556$0$0$0
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$115,360$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$443,466$0$0$0
Pension plan contributions not included above$58,335$0$0$0
Employee benefits not included above$1,973,136$0$0$0
Payroll taxes$40,817$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$76,095$0$0$0
Legal fees$7,866$0$0$0
Supplies$6,060$0$0$0
Telephone$13,164$0$0$0
Postage and shipping$18,866$0$0$0
Occupancy$138,636$0$0$0
Equipment rental and maintenance$107,303$0$0$0
Printing and publications$10,944$0$0$0
Travel$20,370$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$17,159,138$0$0$0
Balance Sheets
2000200120022003200420052006
Total assets$84,903,414$84,529,313$108,871,371$99,880,141$89,605,940$79,507,807$63,757,487
Cash - non-interest-bearing$1,706,835$176,757$172,245$539,316$104,404$215,183$397,602
Savings and temporary cash investments$5,928,740$6,016,993$8,726,952$5,810,651$12,071,825$7,540,124$7,734,974
Accounts receivable less allowance for doubtful accounts$14,779,453$24,934,923$56,080,804$31,691,020$22,245,107$16,250,712$14,996,040
Pledges receivable less allowance for doubtful accounts$0$0$0$0$0$0$0
Grants receivable$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$0
Inventories for sale or use$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$565$6,603$13,750$4,342$4,497$6,592$7,915
Investments - publicly-traded securities$40,056,969
Investments - other securities$61,512,792$52,355,855$43,377,693$59,611,556$54,523,248$54,851,335$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0
Investments - other$0$0$0$0$0$0$0
Land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0
Other assets, including program-related investments$975,029$1,038,182$499,927$2,223,256$656,859$643,861$563,987
Total liabilities$84,010,172$83,908,537$109,589,796$102,656,123$88,441,638$78,070,749$62,070,588
Accounts payable and accrued expenses$5,212,626$12,014,562$6,772,533$13,735,711$7,407,544$19,386,268$8,746,362
Grants payable$0$0$0$0$0$0$0
Deferred revenue$0$0$0$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0
Mortgages and other notes payable$0$0$0$0$0$0$0
Other liabilities$78,797,546$71,893,975$102,817,263$88,920,412$81,034,094$58,684,481$53,324,226
Total liabilities and net assets/fund balances$84,903,414$84,529,313$108,871,371$99,880,141$89,605,940$79,507,807$63,757,487
Total net assets or fund balances$893,242$620,776$-718,425$-2,775,982$1,164,302$1,437,058$1,686,899
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
2000200120022003200420052006
Total revenue$0$0$0$0$0$0$0
Total revenue, gains, and other support per audited financial statements$0$0$0$0$0$0$0
Other expenses$0$0$0$0$0$0$0
Net unrealized gains on investments$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
2000200120022003200420052006
Total expenses$0$0$0$0$0$0$0
Total expenses and losses per audited financial statements$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Other expenses$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
1$2,050$0$0
1$1,200$0$0
1$150$0$0
40$115,360$17,378$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings11
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?No
Did the organization make only in-house lobbying expenditures of $2,000 or less?Yes
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?No
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20069
Analysis of Income-Producing Activities (for 2006)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$0$24,695,233
Program service revenue
Program service revenue 1000000$000$0$23,762,552
Program service revenue 2000000$000$0$-759,877
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$279,499
Dividends and interest from securities000000$000$0$1,877,312
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$-467,268
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$3,015
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2006)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2006)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2006)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it is
Support Schedule
1999200020012002200320042005
Total$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2006)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1California Life Insurance Guaranty Association10780 Santa Monica Blvd 815, Los Angeles, CA 90025-4749CA1993-03$96,340,473
2Michigan Automobile Insurance Placement Facility17456 Laurel Park 130e, Livonia, MI 48152-3981MI1949-05$58,505,558
3National Association Of Independent InsurersDes Plaines, IL 60018IL$34,466,567
4R & D Insurance Company Ltdinternational$337,083
5Health Ohio IncColumbus, OH 43215OH$185,398
6Advanced Physician Insurance Risk Retention Group Inc2700 N 3rd St Ste 3050, Phoenix, AZ 85004-4620AZ2008-09$664,528
7Associated Insurance Company575 S Saliman Rd, Carson City, NV 89701-5000NV2005-06$634,568
8Highlander Insurance Ltd1635 N Greenfield Rd Ste 115, Mesa, AZ 85205-4010AZ2007-01$618,066
9Amy Property & Casualty InsuranceLandsome Rd Box 727 The Valley, Austriainternational2007-12$523,621
10Bdp Reinsurance Company Ltd2700 N 3rd St Ste 3050, Phoenix, AZ 85004-4620AZ2005-05$512,285
11Bessemer Casualty Corp6725 Woodbridge Dr, Boca Raton, FL 33434-4271FL2009-08$472,115
12Caguas Casualty CorpRoad Town Tortola, British Virgin Islandsinternational2007-06$366,943
13Amcare Health Plans Of Texas Inc, Johnson Jean Receiver3767 Forest Ln Ste 124 425, Dallas, TX 75244-7100TX2005-08$357,487
14Austinland Reinsurance Limited307 N Michigan Ave Ste 405, Chicago, IL 60601-5318IL2005-07$325,081
15Far West Reinsurance Limited3650 White Alder, Sonoma, CA 95476-8963CA2005-10$251,044
16Cape Cod Reinsurance Co LtdPO BOX 140249, Irving, TX 75014-0249TX2007-07$210,800
17Empire Casualty CorpRoad Town Tortola, British Virgin Islandsinternational2007-06$183,606
18Bonaco Reinsurance Co Ltd3650 White Alder, Sonoma, CA 95476-8963CA2005-06$160,691
19Choice Reinsurance Co Ltd1568 S Western Skies Dr, Gilbert, AZ 85296-4326AZ2005-08$104,952
20Chair City Reco Ltd3650 White Alder, Sonoma, CA 95476-8963CA2005-06$90,600
21Cheek Enterprises Re Ltd, Global Corporate & Trust Management1640 N Main St, Miami, OK 74354-2721OK2005-06$50,074
22Fnis Reinsurance Ltd701 N Washington St, Kokomo, IN 46901-3313IN2005-08$28,949
Number of organizations performing similar types of work
Arizona10
California12
Florida1
Illinois10
Indiana1
Kansas2
Maine1
Michigan2
Missouri3
North Carolina3
Nevada2
Ohio1
Oklahoma1
Tennessee1
Texas6
Utah2
West Virginia1
International10
Total69

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