MICHIGAN AUTOMOBILE INSURANCE PLACEMENT FACILITY

EIN: 386090344

JOHNSTON, RI

Total Revenue
$18,880,748
Total Expenses
$23,195,140
Total Assets
$84,840,333
Net Assets
$23,624,449
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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
1943
Legal Domicile
MI
Phone
4019462310
Tax Period
2023-01-01 to 2023-12-31

MICHIGAN AUTOMOBILE INSURANCE PLACEMENT FACILITY, founded in 1943, is a mid-sized nonprofit that reported $18.9M in total revenue in fiscal year 2023. Revenue fell 22% from the prior year — a significant decline worth monitoring. Expenses of $23.2M exceeded revenue, resulting in a 23% operating deficit.

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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 $19,162,646
Investment Income $-284,131
Other Revenue $2,233
TOTAL REVENUE $18,880,748

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,846,224
Fundraising Expenses $0
Other Expenses $19,348,916
TOTAL EXPENSES $23,195,140

Year-over-Year Comparison

2023 2022 Change
Revenue $18,880,748 $24,306,711 -0.2%
Expenses $23,195,140 $20,553,385 +0.1%
Net Income $-4,314,392 $3,753,326 -2.1%
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
11
Independent Members
11
Employees
35
Volunteers
7

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
1
$351,777
Total Directors
11
$2,531
Key Employees
0
$0
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A Gov Comm Member 1.00
Director
$0 $0 $0
N/A Gov Comm Member 1.00
Director
$0 $0 $0
N/A Gov Comm Member 1.00
Director
$0 $0 $0
N/A Gov Comm Member 1.00
Director
$0 $0 $0
N/A Gov Comm Member 1.00
Director
$0 $0 $0
N/A Gov Comm Member 1.00
Director
$0 $0 $0
N/A Gov Comm Member 1.00
Director
$0 $0 $0
Will Lemanski Gov Comm Member 1.00
Director
$495 $0 $495
Ray Moulden Gov Comm Member 1.00
Director
$1,032 $0 $1,032
Dr George Goff Gov Comm Member 1.00
Director
$509 $0 $509
Robert Macdonald Gov Comm Member 1.00
Director
$495 $0 $495
Kimberly Bezy Executive Director 37.50
Officer
$294,066 $57,711 $351,777
Holli LaJoice Director of Assigned Claims 37.50
Highest
$164,743 $44,348 $209,091
Bret Scott Operations Manager 37.50
Highest
$138,296 $40,315 $178,611
Cindie Dulaney Director of Finance & Administration 37.50
Highest
$127,578 $33,527 $161,105
Colleen Walker Litigation Manager 37.50
Highest
$117,846 $16,615 $134,461
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 $18,880,748 $23,195,140 $84,840,333 $-4,314,392
2022 $24,306,711 $20,553,385 $97,151,002 $3,753,326
2021 $26,699,927 $31,927,372 $95,743,135 $-5,227,445
2020 $24,180,833 $19,902,491 $83,189,393 $4,278,342
2019 $33,230,187 $37,676,285 $94,286,862 $-4,446,098
2018 $39,020,728 $46,092,692 $98,585,260 $-7,071,964
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