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EIN 38-1956049

Michigan Basic Property Insurance Association

IRS 501(c) type
501(c)(6)
Num. employees
24
City
Farmington Hills
State
Michigan
Year formed
1968
Most recent tax filings
2022-12-01
NTEE code, primary
Y20: Insurance Providers, Services
Description
The Michigan Basic Property Insurance Association provides prompt courteous and efficient service to customers while utilizing resources effectively. Their sole business activity is issuing basic and home property insurance policies for high-risk insurers, with member companies participating collectively.
Total revenues
$12,632,616
2022
Total expenses
$10,898,573
2022
Total assets
$16,573,320
2022
Num. employees
24
2022

Program areas at Michigan Basic Property Insurance Association

The issuance of basic property insurance and home property insurance policies is the sole business related activity of the association. Generally the policies are issued for high-risk insurers. Member property insurance companies participate collectively through their mandatory membership in the association. Assessment paid to the association by member companies are covered through adjustments to the rates for the voluntary market.

Grants made by Michigan Basic Property Insurance Association

GranteeGrant descriptionAmount
Detroit Crime CommissionReward Program$13,000

Personnel at Michigan Basic Property Insurance Association

NameTitle
Michelle MooradianOperations Manager / Manager of Accounting
Rachael YoesFinancial and Information Services Manager

Financials for Michigan Basic Property Insurance Association

RevenuesFYE 12/2022
Total grants, contributions, etc.$0
Program services$10,433,650
Investment income and dividends$400,215
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$1,796,041
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$2,710
Total revenues$12,632,616

Form 990s for Michigan Basic Property Insurance Association

Fiscal year endingDate received by IRSFormPDF link
2022-122023-05-12990View PDF
2021-122022-05-12990View PDF
2020-122021-05-13990View PDF
2019-122021-06-07990View PDF
2019-122021-01-12990OView PDF
...and 10 more Form 990s
Data update history
July 7, 2023
Posted financials
Added Form 990 for fiscal year 2022
June 30, 2023
Updated personnel
Identified 4 new personnel
June 6, 2023
Updated personnel
Identified 1 new personnel
May 26, 2023
Used new vendors
Identified 1 new vendor, including
May 16, 2023
Updated personnel
Identified 4 new personnel
Nonprofit Types
Mutual assistance organizationsInsurance companiesEnvironmental organizations
Issues
No issues found
Characteristics
State / local level
General information
Address
27555 Farmington Rd Suite 315
Farmington Hills, MI 48334
Metro area
Detroit-Warren-Dearborn, MI
County
Oakland County, MI
Website URL
mbpia.com/ 
Phone
(313) 877-7400
IRS details
EIN
38-1956049
Fiscal year end
December
Taxreturn type
Form 990
Year formed
1968
Eligible to receive tax-deductible contributions (Pub 78)
No
Categorization
NTEE code, primary
Y20: Insurance Providers, Services
NAICS code, primary
524126: Direct Property and Casualty Insurance Carriers
Parent/child status
Independent
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