COMPENSATION ADVISORY ORGANIZATION… - 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

1983

Legal Domicile

Principal Officer

DAVE BRUECKMAN

Phone

7344629600

Tax Period

2023-01-01 to 2023-12-31

COMPENSATION ADVISORY ORGANIZATION OF MICHIGAN, founded in 1983, is a community nonprofit that reported $3.5M in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. The organization ran a surplus of $1.4M, a strong 41% operating margin.

Mission

MICHIGAN'S DATA COLLECTION ORGANIZATION (DCO) RESPONSIBLE FOR COLLECTING WORKERS' COMPENSATION POLICY AND CLAIM DATA FOR USE IN PROMULGATING EXPERIENCE MODIFICATION FACTORS, PUBLISHING VOLUNTARY LOSS COSTS FOR MICHIGAN'S VOLUNTARY PROPERTY & CASUALTY INSURANCE MARKET AND ESTABLISHING RATES FOR RESIDUAL MARKET. CAOM IS AUTHORIZED THROUGH THE DATA COLLECTION AGENCY TO SUPPORT THE VOLUNTARY WC MARKET AND OVERSEE THE RESIDUAL MARKET WHICH IS SUPPORTED BY THE MICHIGAN WORKERS' COMPENSATION PLACEMENT FACILITY (MWCPF)

Program Service Accomplishments

Program 1

Expenses: $1,889,699

CAOM SUPPORTED THEIR DATA COLLECTION RESPONSIBILITIES THROUGH THEIR UNIT STATISTICAL REPORTING AND FINANCIAL DATA CALL INITIATIVES. RECENTLY, CAOM INSTITUTED A NEW INDEMNITY DATA CALL IN ORDER TO...

CAOM SUPPORTED THEIR DATA COLLECTION RESPONSIBILITIES THROUGH THEIR UNIT STATISTICAL REPORTING AND FINANCIAL DATA CALL INITIATIVES. RECENTLY, CAOM INSTITUTED A NEW INDEMNITY DATA CALL IN ORDER TO OBTAIN DETAILED POLICY AND CLAIM INFORMATION ON INDEMNITY CLAIMS THAT WILL FACILITATE ESTIMATING THE IMPACT OF FUTURE LEGISLATIVE CHANGES. IN ADDITION TO THE DATA COLLECTION, CAOM CONTINUES PROMULGATING EXPERIENCE MODIFICATION FACTORS FOR THE INDUSTRY. FINALLY, CAOM SERVES AS THE PLAN ADMINISTRATOR FOR THE MICHIGAN WORKERS' COMPENSATION PLACEMENT FACILITY WHICH PROVIDES WORKERS' COMPENSATION COVERAGE FOR BUSINESS UNABLE TO PROCURE INSURANCE THROUGH THE VOLUNTARY MARKET

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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 $3,540,014

Investment Income $1,338

Other Revenue $7,328

TOTAL REVENUE $3,548,680

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,592,437

Fundraising Expenses $0

Program Expenses $1,889,699

Other Expenses $517,251

TOTAL EXPENSES $2,109,688

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,548,680	$3,240,697	+0.1%
Expenses	$2,109,688	$2,128,093	0.0%
Net Income	$1,438,992	$1,112,604	+0.3%

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

$723,015

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KERI KITTMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
APRIL SMITH	BOARD MEMBER	1.00	Director	$0	$0	$0
CHRIS DOEBLER	BOARD MEMBER	1.00	Director	$0	$0	$0
BRIAN MELAS	BOARD MEMBER	1.00	Director	$0	$0	$0
STEVE CROFTON	BOARD MEMBER	1.00	Director	$0	$0	$0
BETTY CARBONE	BOARD MEMBER	1.00	Director	$0	$0	$0
WIL EDIE	BOARD MEMBER	1.00	Director	$0	$0	$0
MARISUE NEWMAN	BOARD MEMBER	1.00	Director	$0	$0	$0
ED HANLON	BOARD MEMBER	1.00	Director	$0	$0	$0
DAVE BRUECKMAN	PRESIDENT	17.00	Officer	$315,451	$5,309	$320,760
ALAN BURNS	SVP, CHIEF ACTUARY	17.00	Officer	$245,866	$6,814	$252,680
PAUL LIPSCOMB	VP, OPERATIONS	17.00	Officer	$144,777	$4,798	$149,575
ALEX BEDOWAY	VP, LEAD ACTUARY	17.00	Highest	$162,595	$4,193	$166,788
JAYARAJ SUBRAMANIAN	IT MANAGER	17.00	Highest	$178,418	$3,235	$181,653
MICHAEL C TITHOF	ACTUARY III	17.00	Highest	$117,371	$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	$3,548,680	$2,109,688	$4,709,210	$1,438,992
2022	$3,240,697	$2,128,093	$4,551,303	$1,112,604
2021	$3,366,678	$2,206,587	$4,498,883	$1,160,091
2020	$3,388,894	$2,250,362	$5,913,184	$1,138,532
2019	$3,324,678	$2,278,333	$5,655,528	$1,046,345
2018	$3,277,413	$2,115,674	$5,600,979	$1,161,739

COMPENSATION ADVISORY ORGANIZATION OF MICHIGAN