POLICE OFFICERS ASSOCIATION OF MICHIGAN INC VEBA

EIN: 208587844 Mutual Benefit

REDFORD, MI

Total Revenue
$191,312
Total Expenses
$131,299
Total Assets
$3,808,853
Net Assets
$3,808,853
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2005
Legal Domicile
MI
Principal Officer
JAMES TIGNANELLI
Phone
3139379000
Tax Period
2023-01-01 to 2023-12-31

POLICE OFFICERS ASSOCIATION OF MICHIGAN INC VEBA, founded in 2005, is a small nonprofit in the Mutual Benefit sector that reported $191K in total revenue in fiscal year 2023. Revenue surged 99% from the prior year, signaling strong growth momentum. The organization ran a surplus of $60K, a strong 31% operating margin.

Mission

TO PROVIDE MEDICAL AND HEALTH CARE BENEFITS FOR RETIREES OF POLICE OFFICERS ASSOCIATION OF MICHIGAN.

Program Service Accomplishments

Program 1

TO PROVIDE MEDICAL AND HEALTH CARE BENEFITS FOR RETIREES OF POLICE OFFICERS ASSOCIATION OF MICHIGAN.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $72,000
Investment Income $119,312
Other Revenue $0
TOTAL REVENUE $191,312

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $131,299
TOTAL EXPENSES $131,299

Year-over-Year Comparison

2023 2022 Change
Revenue $191,312 $96,031 +1.0%
Expenses $131,299 $53,406 +1.5%
Net Income $60,013 $42,625 +0.4%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
2
Independent Members
N/A
Employees
N/A
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
2
$394,606
Total Directors
2
$394,606
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JAMES TIGNANELLI PRESIDENT 1.00
Officer Director
$0 $43,877 $246,050
KEVIN LOFTIS TREASURER 1.00
Officer Director
$0 $19,377 $148,556
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $191,312 $131,299 $3,808,853 $60,013
2022 $96,031 $53,406 $3,517,235 $42,625
2021 $195,383 $115,449 $3,966,302 $79,934
2020 $159,046 $89,449 $3,875,891 $69,597
2019 $261,095 $124,683 $3,608,311 $136,412
2018 $128,407 $89,803 $3,104,365 $38,604
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