MICHIGAN PROPERTY AND CASUALTY GUA… - Form 990 Financial Data

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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

1969

Legal Domicile

Principal Officer

JEFFERY JENKINS

Phone

2484820381

Tax Period

2024-01-01 to 2024-12-31

MICHIGAN PROPERTY AND CASUALTY GUARANTY ASSOCIATION, founded in 1969, is a mid-sized nonprofit that reported $14.7M in total revenue in fiscal year 2024. Revenue surged 30% from the prior year, signaling strong growth momentum. Expenses of $21.0M exceeded revenue, resulting in a 43% operating deficit.

Mission

THE MICHIGAN PROPERTY AND CASUALTY GUARANTY ASSOCIATION ("MPCGA") IS AN UNINCORPORATED ASSOCIATION OF ALL PROPERTY AND CASUALTY INSURERS AUTHORIZED TO TRANSACT INSURANCE IN MICHIGAN. MPCGA WAS CREATED BY AN ACT OF THE MICHIGAN LEGISLATURE, MCL 500.7901 ET SEQ., IN ORDER TO PROTECT THE PUBLIC AGAINST FINANCIAL LOSSES TO POLICYHOLDERS AND CLAIMANTS AS A RESULT OF PROPERTY AND CASUALTY INSURANCE COMPANY INSOLVENCIES. WHEN A MEMBER INSURER BECOMES INSOLVENT, MPCGA HAS A DUTY TO PAY CERTAIN OBLIGATIONS OF THE INSOLVENT INSURER THAT COME WITHIN THE ACT'S DEFINITION OF COVERED CLAIMS. MPCGA DOES NOT HANDLE CLAIMS ARISING OUT OF LIFE OR DISABILITY INSURANCE OR ANNUITY CONTRACTS.

Program Service Accomplishments

Program 1

MPCGA IS AN UNINCORPORATED ASSOCIATION OF ALL PROPERTY AND CASUALTY INSURERS AUTHORIZED TO TRANSACT INSURANCE IN MICHIGAN. MPCGA WAS CREATED BY AN ACT OF THE MICHIGAN LEGISLATURE, MCL 500.7901 ET...

MPCGA IS AN UNINCORPORATED ASSOCIATION OF ALL PROPERTY AND CASUALTY INSURERS AUTHORIZED TO TRANSACT INSURANCE IN MICHIGAN. MPCGA WAS CREATED BY AN ACT OF THE MICHIGAN LEGISLATURE, MCL 500.7901 ET SEQ., IN ORDER TO PROTECT THE PUBLIC AGAINST FINANCIAL LOSSES TO POLICYHOLDERS AND CLAIMANTS AS A RESULT OF PROPERTY AND CASUALTY INSURANCE COMPANY INSOLVENCIES. WHEN A MEMBER INSURER BECOMES INSOLVENT, MPCGA HAS A DUTY TO PAY CERTAIN OBLIGATIONS OF THE INSOLVENT INSURER THAT COME WITHIN THE ACT'S DEFINITION OF COVERED CLAIMS. MPCGA DOES NOT HANDLE CLAIMS ARISING OUT OF LIFE OR DISABILITY INSURANCE OR ANNUITY CONTRACTS.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $8,604,419

Investment Income $6,100,048

Other Revenue $0

TOTAL REVENUE $14,704,467

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,636,358

Fundraising Expenses $0

Other Expenses $19,394,063

TOTAL EXPENSES $21,030,421

Year-over-Year Comparison

	2024	2023	Change
Revenue	$14,704,467	$11,322,292	+0.3%
Expenses	$21,030,421	$13,548,362	+0.6%
Net Income	$-6,325,954	$-2,226,070	+1.8%

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

Governance

Voting Members

Independent Members

Employees

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

$490,533

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES MORITZ	CHAIR	1.00	Officer Director	$0	$0	$0
STEVEN DONNELLY	BOARD MEMBER	1.00	Director	$0	$0	$0
RICHARD L FOX	BOARD MEMBER	1.00	Director	$0	$0	$0
AMY MASS	BOARD MEMBER	1.00	Director	$0	$0	$0
SUZANNE PHILLIPS	BOARD MEMBER	1.00	Director	$0	$0	$0
OMARI SANKOFA	BOARD MEMBER	1.00	Director	$0	$0	$0
MARGARET SCHESKE	BOARD MEMBER	1.00	Director	$0	$0	$0
JEFFERY JENKINS	EXECUTIVE DIRECTOR	38.80	Officer	$230,545	$41,478	$272,023
JOHN ARMENT	DIRECTOR OF FINANCE AND ADMIN.	38.80	Officer	$184,646	$33,864	$218,510
LAURA MYERS	CLAIMS MANAGER	38.80	Highest	$140,965	$33,685	$174,650
LORI RICE	ACCOUNTING MANAGER	38.80	Highest	$124,267	$32,118	$156,385
BEN CZAPIEWSKI	SENIOR CLAIMS ADJUSTER	38.80	Highest	$107,597	$22,769	$130,366

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
2025	No data	No data	No data	No data
2024	$14,704,467	$21,030,421	$128,237,930	$-6,325,954
2023	$11,322,292	$13,548,362	$125,011,204	$-2,226,070
2022	$16,294,916	$32,360,522	$123,183,615	$-16,065,606
2021	$16,019,730	$6,495,992	$169,923,303	$9,523,738
2020	$12,638,878	$9,688,701	$167,155,900	$2,950,177
2019	$26,159,733	$17,220,251	$160,969,224	$8,939,482
2018	$34,507,368	$2,294,873	$142,864,064	$32,212,495

MICHIGAN PROPERTY AND CASUALTY GUARANTY ASSOCIATION