Overview
What is Michigan Basic Property Insurance Association?
Michigan Basic Property Insurance Association is a Farmington Hills, Michigan-based nonprofit organization dedicated to issuing basic property and home insurance policies, primarily for high-risk insurers. Member insurance companies collaborate through their mandatory membership in the association, with assessment payments contributing to its operations. The mission of Michigan Basic Property Insurance Association encompasses providing efficient customer service, utilizing resources effectively, fostering a creative work environment, and addressing community needs. The organization employs a team of 24 individuals to carry out these objectives.
Official website here: www.mbpia.com
Is Michigan Basic Property Insurance Association legitimate?
Michigan Basic Property Insurance Association is a legitimate nonprofit organization registered as a 501(c)(6) entity. Michigan Basic Property Insurance Association submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $10,500
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,145,913
For more financial information, click here
Official website here: www.mbpia.com
What is the mission statement of Michigan Basic Property Insurance Association?
The Michigan Basic Property Insurance Association is dedicated to delivering prompt, courteous, and efficient service to its customers. Aware of its responsibility to utilize resources effectively for the benefit of both member companies and policyholders, the organization fosters a work environment that values creativity and encourages teamwork. Sensitivity towards the needs of the community is also a priority for Michigan Basic Property Insurance Association.
Official website here: www.mbpia.com
Who is the CEO of Michigan Basic Property Insurance Association?
Michelle Mooradian is the Principal Officer of Michigan Basic Property Insurance Association.
Official website here: www.mbpia.com
What is the revenue of Michigan Basic Property Insurance Association?
Michigan Basic Property Insurance Association's revenue in 2022 was $12,632,616.
Official website here: www.mbpia.com
Who are the executives of Michigan Basic Property Insurance Association and what are their salaries?
The average compensation at Michigan Basic Property Insurance Association during 2022 was $89,851. There are 24 employees at Michigan Basic Property Insurance Association.
Here are 18 key members and their salaries:
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- Compensation: $1,350
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- Compensation: $2,250
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- Compensation: $1,200
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- Compensation: $1,650
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- Compensation: $2,850
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- Compensation: $450
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- Compensation: $150
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Official website here: www.mbpia.com
Where can I find the form 990 for Michigan Basic Property Insurance Association?
Michigan Basic Property Insurance Association's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mbpia.com
Learn more at the official website: www.mbpia.com
Mission Statement of Michigan Basic Property Insurance Association
Michigan Basic Property Insurance Association, or MBPIA, is a mission-driven organization committed to delivering prompt, courteous, and efficient services to its customers. The association places great importance on its responsibility to effectively utilize resources for the benefit of its member companies and policyholders. In addition, MBPIA values a creative and collaborative work environment that fosters teamwork. The organization is deeply concerned with the needs of the community and strives to respond sensitively to its requirements.
By prioritizing prompt and courteous service, MBPIA seeks to build trust and confidence among its customers. The association recognizes the significance of its role in the lives of policyholders and is dedicated to handling their needs with the utmost care and attention. Furthermore, MBPIA is mindful of the importance of working efficiently and effectively, ensuring that resources are utilized in a way that maximizes their impact.
MBPIA's work environment is one that encourages creativity and collaboration, allowing team members to bring their unique ideas and perspectives to the table. This approach not only leads to innovative solutions but also fosters a strong sense of camaraderie and team spirit. Additionally, by being sensitive to the needs of the community, MBPIA demonstrates its commitment to being more than just a business; it is an integral part of the social fabric that makes a difference in people's lives.
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Impact
October, 2024
The Michigan Basic Property Insurance Association plays a crucial role in ensuring access to basic property insurance for individuals and businesses facing high risks. By facilitating the issuance of basic insurance policies, it helps protect homeowners and property owners who may struggle to find coverage in the voluntary market. This, in turn, stabilizes communities by providing a safety net that mitigates the financial impact of property damage or loss.
Through its collective approach, the Association enables member property insurance companies to collaborate in addressing high-risk scenarios, ensuring that the resources are used effectively and that policyholders receive timely and efficient service. By promoting a work environment that values creativity and teamwork, the Association strengthens its internal operations, ultimately benefitting the communities it serves. Moreover, by being responsive to the needs of the community, the Michigan Basic Property Insurance Association contributes to financial stability and peace of mind for many individuals facing challenges in securing property insurance.
This information is meant to be a general summary of Michigan Basic Property Insurance Association. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $2,196,256
- Program Service Revenue: $10,433,650
- Gross Receipts: $21,115,020
Assets and Liabilities:
- Total Assets: $16,573,320
- Total Liabilities: $14,106,627
- Net Assets: $2,466,693
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Direct Property and Casualty Insurance Carriers
Revenue
$10,433,650
Organization Details
Founding Year
1968
Phone
(313) 877-7400Principal Officer
Michelle Mooradian
Main Address
27555 FARMINGTON ROAD SUITE 315, Farmington Hills, MI, 48334
Website
www.mbpia.comNTEE Category
Code: Y20 - Mutual benefit
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