Farmington Hills, MI
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)Michigan Basic Property Insurance Association, founded in 1968, is a mid-sized nonprofit that reported $11.8M in total revenue in fiscal year 2023. Revenue decreased 6% compared to the prior year. Expenses of $11.2M left a modest 6% surplus.
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.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $11,845,327 | $12,632,616 | -0.1% |
| Expenses | $11,173,758 | $10,898,573 | +0.0% |
| Net Income | $671,569 | $1,734,043 | -0.6% |
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
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| Janie Hathaway | Board of Governors | 0.50 |
Director
|
$0 | $0 | $0 |
| Randy McKee | Board of Governors | 0.50 |
Director
|
$0 | $0 | $0 |
| Leroy Bostic | Board of Governors | 0.50 |
Director
|
$1,800 | $0 | $1,800 |
| Christopher Cleveland | Board of Governors | 0.50 |
Director
|
$0 | $0 | $0 |
| David Field | Board of Governors | 0.50 |
Director
|
$1,500 | $0 | $1,500 |
| Erin Fowle | Board of Governors | 0.50 |
Director
|
$0 | $0 | $0 |
| Lisa Hicks | Board of Governors | 0.50 |
Director
|
$0 | $0 | $0 |
| Michael C Levine | Board of Governors | 0.50 |
Director
|
$750 | $0 | $750 |
| Linda Maar | Board of Governors | 0.50 |
Director
|
$0 | $0 | $0 |
| Solon Phillips | Board of Governors | 0.50 |
Director
|
$1,050 | $0 | $1,050 |
| Steve Rock | Board of Governors | 0.50 |
Director
|
$1,650 | $0 | $1,650 |
| Muddasar Tawakkul | Board of Governors | 0.50 |
Director
|
$2,100 | $0 | $2,100 |
| Jeffrey O Williams | Board of Governors | 0.50 |
Director
|
$150 | $0 | $150 |
| Eugene Hawkins III | Board of Governors | 0.50 |
Director
|
$150 | $0 | $150 |
| Michael Wykes | Board of Governors | 0.50 |
Director
|
$0 | $0 | $0 |
| Timothy Dillahunt | Board of Governors | 0.50 |
Director
|
$0 | $0 | $0 |
| Matthew Hillborg | Board of Governors | 0.50 |
Director
|
$0 | $0 | $0 |
| Nathan Powell | Board of Governors | 0.50 |
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $11,845,327 | $11,173,758 | $15,762,775 | $671,569 |
| 2022 | $12,632,616 | $10,898,573 | $16,573,320 | $1,734,043 |
| 2021 | $14,270,902 | $10,325,535 | $25,213,481 | $3,945,367 |
| 2020 | $15,942,154 | $10,878,766 | $36,478,347 | $5,063,388 |
| 2019 | $15,458,807 | $13,303,987 | $54,265,153 | $2,154,820 |
| 2018 | $15,633,024 | $20,692,923 | $49,195,801 | $-5,059,899 |
Compare Michigan Basic Property Insurance Association with other nonprofits in Michigan and across the country.