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Filing year 2024

Michigan Basic Property Insurance Association

Farmington Hills, Michigan·EIN 38-1956049·6
Total revenue
$13.4M
Total assets
$19.8M
Total expenses
$10.9M
Reported officers
17
Mission

The mission of Michigan Basic Property Insurance Association is to provide prompt courteous and efficient service to our customers; be aware of the responsibility we have to our member companies and policyholders to utilize resources effectively; provide a work environment that recognizes creativity and promotes teamwork; and be sensitive to the needs of the community.

Executive compensation

Form 990 · Schedule J · 7 reported individuals · Filing year 2024

Board of Governors
board member
$2k
$3k
Board of Governors
board member
$2k
$2k
Board of Governors
board member
$2k
$2k
Board of Governors
board member
$1k
$1k
Board of Governors
board member
$1k
$1k
Board of Governors
board member
$600
$633
Board of Governors
board member
$150
$158

Teal figures restate each filed amount in 2026 dollars.

Estimated with Detroit-Warren-Dearborn, MI metro-area CPI-U, restating filed pay into April 2026 dollars. A restatement of past pay, not current or projected pay.

Plus 10 unpaid individuals.

Financial trend

Revenue and expenses over time

Michigan Basic Property Insurance Association reported revenue and expenses across 2 filing years.

RevenueExpenses
$11.8M
$11.2M
2023
$13.4M
$10.9M
2024
Total revenue and total expenses from IRS Form 990 filings.
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