Michigan Automobile Insurance Placement Facility

Organization Overview

Michigan Automobile Insurance Placement Facility is located in Johnston, RI. The organization was established in 1949. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. As of 12/2021, Michigan Automobile Insurance Placement Facility employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan Automobile Insurance Placement Facility is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.

For the year ending 12/2021, Michigan Automobile Insurance Placement Facility generated $26.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.4%) each year. All expenses for the organization totaled $31.9m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

SEE ATTACHED NOTE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

SEE ATTACHED NOTE.


THE MICHIGAN ASSIGNED CLAIMS PLAN (MACP) PROVIDES PERSONAL INJURY PROTECTION BENEFITS REQUIRED BY MICHIGAN NO FAULT STATUTE TO ELIGIBLE PARTIES THAT SUSTAINED INJURIES RESULTING FROM A MOTOR VEHICLE ACCIDENT. THE MACP COMPLETES AN INITIAL DETERMINATION OF ELIGIBILITY FOR EACH CLAIM AND ELIGIBLE CLAIMS ARE THEN ASSIGNED TO A SERVICING INSURER TO MAKE FINAL DETERMINATION OF COVERAGE. IF THE INJURED PARTY IS ELIGIBLE FOR BENEFITS, THE ASSIGNED SERVICING INSURER PROCESSES THE CLAIM ON BEHALF OF THE MACP


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$25,517,983
Investment income $724,818
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $418,100
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $26,699,927

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