MICHIGAN WORKERS' COMPENSATION PLACEMENT FACILITY (EIN 382435776) - Form 990 Financial Analysis & Trantor Score

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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

1983

Legal Domicile

Principal Officer

DAVE BRUECKMAN

Phone

7344629600

Tax Period

2023-01-01 to 2023-12-31

MICHIGAN WORKERS' COMPENSATION PLACEMENT FACILITY, founded in 1983, is a community nonprofit that reported $3.2M in total revenue in fiscal year 2023. Revenue grew 12% year-over-year, indicating healthy expansion. The organization ran a surplus of $939K, a strong 30% operating margin.

Mission

RESPONSIBLE FOR ADDRESSING ALL PLAN AND POOL ADMINISTRATION DUTIES ASSOCIATED WITH SUPPORTING THE MICHIGAN WORKERS' COMPENSATION RESIDUAL MARKET, I.E. MARKET OF LAST RESORT

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $3,148,522

Investment Income $34,926

Other Revenue $0

TOTAL REVENUE $3,183,448

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,841,038

Fundraising Expenses $0

Program Expenses $1,993,876

Other Expenses $403,270

TOTAL EXPENSES $2,244,308

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,183,448	$2,833,657	+0.1%
Expenses	$2,244,308	$2,339,897	0.0%
Net Income	$939,140	$493,760	+0.9%

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

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

$723,015

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TRACEY MCLENON	BOARD MEMBER	1.00	Director	$0	$0	$0
DAWN ELZINGA	BOARD MEMBER	1.00	Director	$0	$0	$0
AMANDA WARNER	BOARD MEMBER	1.00	Director	$0	$0	$0
ED HANLON	BOARD MEMBER	1.00	Director	$0	$0	$0
RYAN VAUGHN	BOARD MEMBER	1.00	Director	$0	$0	$0
BRIAN MELAS	BOARD MEMBER	1.00	Director	$0	$0	$0
JASON SWEET	BOARD MEMBER	1.00	Director	$0	$0	$0
KYLEE MITCHELL WELLS	BOARD MEMBER	1.00	Director	$0	$0	$0
JAMES RALPH	BOARD MEMBER	1.00	Director	$0	$0	$0
PAUL LIPSCOMB	VP, OPERATIONS	20.50	Officer	$0	$4,798	$149,575
DAVE BRUECKMAN	PRESIDENT	20.50	Officer	$0	$5,309	$320,760
ALAN BURNS	SVP, CHIEF ACTUARY	20.50	Officer	$0	$6,814	$252,680
ALEX BEDOWAY	VP, LEAD ACTUARY	20.50	Highest	$0	$4,193	$166,788
JAYARAJ SUBRAMANIAN	IT MANAGER	20.50	Highest	$0	$3,235	$181,653
MICHAEL C TITHOF	ACTUARY III	20.50	Highest	$0	$4,328	$121,699

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	$3,183,448	$2,244,308	$3,058,469	$939,140
2022	$2,833,657	$2,339,897	$2,370,177	$493,760
2021	$2,865,887	$2,439,465	$2,575,002	$426,422
2020	$3,052,086	$2,384,289	$3,111,369	$667,797
2019	$2,851,007	$2,522,380	$3,013,752	$328,627
2018	$2,799,840	$2,365,993	$3,406,594	$433,847

MICHIGAN WORKERS' COMPENSATION PLACEMENT FACILITY