MICHIGAN CATASTROPHIC CLAIMS ASSOCIATION U S: Form 990, tax year 2022
View the entire original 990 at ProPublica ↗
- Organization
- MICHIGAN CATASTROPHIC CLAIMS ASSOCIATION U S (EIN 38-2227794)
- Tax period
- 2022-07-01 to 2023-06-30
- Filed
- 2024-05-15
- IRS object ID
- 202431369349317478
- Schema version
- 2022v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-05-15T19:52:03+00:00 | ReturnTs |
| Tax Period End | 2023-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 346565596 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ERNST & YOUNG US LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2100 ONE PPG PLACE | AddressLine1Txt |
| City | PITTSBURGH | CityNm |
| State Abbreviation | PA | StateAbbreviationCd |
| ZIP | 15222 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2022-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 382227794 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MICHIGAN CATASTROPHIC CLAIMS ASSOCIATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | MICH | BusinessNameControlTxt |
| Phone | 7349532779 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 17584 LAUREL PARK DRIVE NORTH | AddressLine1Txt |
| City | LIVONIA | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 481523982 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | BRANDON PACH | PersonNm |
| Person Title | CONTROLLER | PersonTitleTxt |
| Phone | 7349532779 | PhoneNum |
| Signature | 2024-05-16 | SignatureDt |
| Discuss With Paid Preparer | Yes (true) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | BRANDON | PersonFirstNm |
| Person Last | PACH | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (true) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Eileen Webb | PreparerPersonNm |
| PTIN | P01641852 | PTIN |
| Phone | 4126447800 | PhoneNum |
| Preparation | 2023-05-17 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2022 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
Principal Ofcr Business Name PrincipalOfcrBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BRANDON PACH | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 17584 LAUREL PARK DRIVE NORTH | AddressLine1Txt |
| City | LIVONIA | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 481523982 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $3,347,434,930 | GrossReceiptsAmt |
| Group Return For Affiliates | false | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.MICHIGANCATASTROPHIC.COM | WebsiteAddressTxt |
| Type Of Organization Assoc | Yes (X) | TypeOfOrganizationAssocInd |
| Formation | 1978 | FormationYr |
| Legal Domicile State | MI | LegalDomicileStateCd |
| Activity Or Mission | REVIEW OF PERSONAL INJURY PROTECTION CLAIMS REPORTED BY MEMBERS AND INDEMNIFICATION OF ULTIMATE MEMBER LOSS UNDER STATUTORY REQUIRED PERSONAL PROTECTION INSURANCE COVERAGES. | ActivityOrMissionDesc |
| Voting Members Governing Body | 5 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 5 | VotingMembersIndependentCnt |
| Total Employee | 50 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $492,001,046 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $540,910,222 | CYProgramServiceRevenueAmt |
| PY Investment Income | $1,252,027,573 | PYInvestmentIncomeAmt |
| CY Investment Income | $762,710,513 | CYInvestmentIncomeAmt |
| PY Other Revenue | $26 | PYOtherRevenueAmt |
| CY Other Revenue | $178 | CYOtherRevenueAmt |
| PY Total Revenue | $1,744,028,645 | PYTotalRevenueAmt |
| CY Total Revenue | $1,303,620,913 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $4,875,262 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $23,808,640 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $4,423,248,713 | PYOtherExpensesAmt |
| CY Other Expenses | -$311,658,384 | CYOtherExpensesAmt |
| PY Total Expenses | $4,428,123,975 | PYTotalExpensesAmt |
| CY Total Expenses | -$287,849,744 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$2,684,095,330 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $1,591,470,657 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $21,855,296,718 | TotalAssetsBOYAmt |
| Total Assets EOY | $21,617,618,962 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $25,530,466,219 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $23,666,991,658 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | -$3,675,169,501 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | -$2,049,372,696 | NetAssetsOrFundBalancesEOYAmt |
| Mission | SEE SCHEDULE O | MissionDesc |
| Significant New Program Srvc | false | SignificantNewProgramSrvcInd |
| Significant Change | false | SignificantChangeInd |
| Desc | THE MICHIGAN CATASTROPHIC CLAIMS ASSOCIATION (MCCA), A PRIVATE NON-PROFIT UNINCORPORATED ASSOCIATION, WAS CREATED BY THE STATE LEGISLATURE IN 1978 BY PUBLIC ACT 136 OF 1978, WHICH AMENDED THE NO-FAULT LAW BY ADDING SECTION 3104 EFFECTIVE JULY 1, 1978. MICHIGAN'S UNIQUE AUTO INSURANCE NO-FAULT LAW PROVIDES UNLIMITED LIFETIME COVERAGE FOR MEDICAL EXPENSES WHICH RESULT FROM AUTO ACCIDENTS. THE MCCA REIMBURSES AUTO NO-FAULT INSURANCE COMPANIES FOR EACH PERSONAL INJURY PROTECTION (PIP) MEDICAL CLAIM PAID IN EXCESS OF A SET AMOUNT. CURRENTLY THAT AMOUNT IS $600,000. THE INSURANCE COMPANY PAYS THE ENTIRE CLAIM BUT IS REIMBURSED BY THE MCCA FOR MEDICAL COSTS OVER $600,000. ALL AUTO INSURANCE COMPANIES OPERATING IN MICHIGAN ARE ASSESSED TO COVER THE CATASTROPHIC MEDICAL CLAIMS OCCURRING IN MICHIGAN. THOSE ASSESSMENTS ARE GENERALLY PASSED ON TO AUTO INSURANCE POLICYHOLDERS. THE 2022-2023 ASSESSMENT WAS $86.00 PER VEHICLE. | Desc |
| Total Program Service Expenses | $0 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | false | DescribedInSection501c3Ind |
| Schedule B Required | false | ScheduleBRequiredInd |
| Political Campaign Acty | false | PoliticalCampaignActyInd |
| Subject To Proxy Tax | false | SubjectToProxyTaxInd |
| Donor Advised Fund | false | DonorAdvisedFundInd |
| Conservation Easements | false | ConservationEasementsInd |
| Collections Of Art | false | CollectionsOfArtInd |
| Credit Counseling | false | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | false | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (true) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (true) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | false | ReportProgramRelatedInvstInd |
| Report Other Assets | false | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (true) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | false | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | false | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | false | ConsolidatedAuditFinclStmtInd |
| School Operating | false | SchoolOperatingInd |
| Foreign Office | false | ForeignOfficeInd |
| Foreign Activities | Yes (true) | ForeignActivitiesInd |
| More Than5000 K To Org | false | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividualsInd |
| Professional Fundraising | false | ProfessionalFundraisingInd |
| Fundraising Activities | false | FundraisingActivitiesInd |
| Gaming Activities | false | GamingActivitiesInd |
| Operate Hospital | false | OperateHospitalInd |
| Grants To Organizations | false | GrantsToOrganizationsInd |
| Grants To Individuals | false | GrantsToIndividualsInd |
| Schedule J Required | Yes (true) | ScheduleJRequiredInd |
| Tax Exempt Bonds | false | TaxExemptBondsInd |
| Loan Outstanding | false | LoanOutstandingInd |
| Grant To Related Person | false | GrantToRelatedPersonInd |
| Business Rln With Org Mem | false | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | false | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | false | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | false | DeductibleNonCashContriInd |
| Deductible Art Contribution | false | DeductibleArtContributionInd |
| Terminate Operations | false | TerminateOperationsInd |
| Partial Liquidation | false | PartialLiquidationInd |
| Disregarded Entity | false | DisregardedEntityInd |
| Related Entity | false | RelatedEntityInd |
| Related Organization Ctrl Ent | false | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | false | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (true) | ScheduleORequiredInd |
| Info In Schedule O Part V | Yes (X) | InfoInScheduleOPartVInd |
| IRP Document | 38 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (true) | BackupWthldComplianceInd |
| Employee | 50 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (true) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | false | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | Yes (true) | ForeignFinancialAccountInd |
| Foreign Country | CJ | ForeignCountryCd |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | false | TaxablePartyNotificationInd |
| Nondeductible Contributions | false | NondeductibleContributionsInd |
| Indoor Tanning Services | false | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | false | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | false | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 5 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 5 | IndependentVotingMemberCnt |
| Family Or Business Rln | false | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | false | DelegationOfMgmtDutiesInd |
| Change To Org Documents | false | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (true) | MembersOrStockholdersInd |
| Election Of Board Members | false | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (true) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (true) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (true) | MinutesOfCommitteesInd |
| Officer Mailing Address | false | OfficerMailingAddressInd |
| Local Chapters | false | LocalChaptersInd |
| Form990 Provided To Gvrn Body | false | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (true) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (true) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (true) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (true) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (true) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (true) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (true) | CompensationProcessOtherInd |
| Investment In Joint Venture | false | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BRANDON PACH | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 7349532779 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 17584 LAUREL PARK DRIVE NORTH | AddressLine1Txt |
| City | LIVONIA | CityNm |
| State Abbreviation | MI | StateAbbreviationCd |
| ZIP | 481523982 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | Yes (X) | NoListedPersonsCompensatedInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (12 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| Anthony Ptasznik | ||||||||
| Director & Vice Chair | 1.0 | 0.0 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| Ted Reinbold | ||||||||
| Director & Chair | 1.0 | 0.0 | Yes (X) | Yes (X) | $0 | $0 | $0 | |
| Erin Fogarty | ||||||||
| Director | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| John Parsons | ||||||||
| Director | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| Paul Mueller | ||||||||
| Director | 1.0 | 0.0 | Yes (X) | $0 | $0 | $0 | ||
| James D Lunsted | ||||||||
| Controller | 40.0 | 0.0 | Yes (X) | $247,238 | $0 | $38,596 | ||
| R Kevin Clinton | ||||||||
| Executive Director | 40.0 | 0.0 | Yes (X) | $477,823 | $0 | $28,602 | ||
| Joseph Erhardt | ||||||||
| Assistant Executive Director | 40.0 | 0.0 | $453,617 | $0 | $33,600 | Yes (X) | ||
| Kathryn Miller | ||||||||
| General Counsell | 40.0 | 0.0 | $310,320 | $0 | $42,932 | Yes (X) | ||
| Laura Kocot | ||||||||
| Claims Manager | 40.0 | 0.0 | $184,283 | $0 | $46,653 | Yes (X) | ||
| Wendy Horbal | ||||||||
| Claims Manager | 40.0 | 0.0 | $183,323 | $0 | $50,290 | Yes (X) | ||
| William Mangold | ||||||||
| IT Manager | 40.0 | 0.0 | $201,314 | $0 | $53,302 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,057,918 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $293,975 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 24 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | false | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (true) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | false | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | Address Line2ContractorAddress/USAddress/AddressLine2Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|---|
| Mondrian Investment Partners | ||||||
| 1105 N Market Street | Suite 1118 | Wilmington | DE | 19801 | Investment Management | $4,498,032 |
| Centric Consulting LLC | ||||||
| PO Box 75581 | Cleveland | OH | 441014755 | IT Support | $3,516,532 | |
| Dodge & Cox | ||||||
| 555 California Street | 40th Floor | San Francisco | CA | 941041501 | Investment Management | $3,205,365 |
| Invesco Secured Management | ||||||
| 22469 Network Place | Chicago | IL | 606731220 | Investment Management | $2,866,912 | |
| Federated Hermes | ||||||
| PO Box 641531 | Pittsburgh | PA | 152641531 | Investment Management | $2,858,348 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 23 | CntrctRcvdGreaterThan100KCnt |
| Federated Campaigns | $0 | FederatedCampaignsAmt |
| Membership Dues | $0 | MembershipDuesAmt |
| Fundraising | $0 | FundraisingAmt |
| Related Organizations | $0 | RelatedOrganizationsAmt |
| Government Grants | $0 | GovernmentGrantsAmt |
| All Other Contributions | $0 | AllOtherContributionsAmt |
| Noncash Contributions | $0 | NoncashContributionsAmt |
| Total Contributions | $0 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PREMIUMS EARNED | Desc |
| Business | 524298 | BusinessCd |
| Total Revenue Column | $540,910,222 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $540,910,222 | RelatedOrExemptFuncIncomeAmt |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $540,910,222 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $672,885,862 | TotalRevenueColumnAmt |
| Exclusion | $672,885,862 | ExclusionAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $2,133,638,668 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $2,043,814,017 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $89,824,651 | SecuritiesAmt |
| Other | $0 | OtherAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $89,824,651 | TotalRevenueColumnAmt |
| Exclusion | $89,824,651 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Miscellaneous Income | Desc |
| Total Revenue Column | $178 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $178 | RelatedOrExemptFuncIncomeAmt |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $178 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,303,620,913 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $540,910,400 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $762,710,513 | ExclusionAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,081,968 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $17,565,056 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $540,392 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,300,604 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,320,620 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,537,154 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $352,471 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $22,057,822 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,190,407 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $174,712 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,031,288 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $892,987 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,430 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,475 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | -$53,686 | TotalAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,077,938 | TotalAmt |
Other Expenses OtherExpensesGrp (2 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| LOSSES INCURRED | -$346,211,286 |
| ALLOCATED LOSS ADJUSTMENT | -$3,720,096 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | -$287,849,744 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $507,720,272 | BOYAmt |
| EOY | $324,208,427 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,116,639 | BOYAmt |
| EOY | $7,161,253 | EOYAmt |
Receivables From Officers Etc ReceivablesFromOfficersEtcGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $586,683 | BOYAmt |
| EOY | $527,685 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $382,586 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $373,056 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $28,154 | BOYAmt |
| EOY | $9,530 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $18,191,374,334 | BOYAmt |
| EOY | $18,350,301,805 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,538,600,230 | BOYAmt |
| EOY | $2,613,514,576 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $602,870,406 | BOYAmt |
| EOY | $321,895,686 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,855,296,718 | BOYAmt |
| EOY | $21,617,618,962 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $345,177,697 | BOYAmt |
| EOY | $17,993,155 | EOYAmt |
Loans From Officers Directors LoansFromOfficersDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $25,185,288,522 | BOYAmt |
| EOY | $23,648,998,503 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $25,530,466,219 | BOYAmt |
| EOY | $23,666,991,658 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$3,675,169,501 | BOYAmt |
| EOY | -$2,049,372,696 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | -$3,675,169,501 | BOYAmt |
| EOY | -$2,049,372,696 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,855,296,718 | BOYAmt |
| EOY | $21,617,618,962 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $1,591,470,657 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $191,066,852 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$156,740,704 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | false | AccountantCompileOrReviewInd |
| FS Audited | Yes (true) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (true) | AuditCommitteeInd |
| Federal Grant Audit Required | false | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $382,586 | OtherCostOrOtherBasisAmt |
| Depreciation | $373,056 | DepreciationAmt |
| Book Value | $9,530 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $9,530 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (3 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| PRIVATE EQUITY FUNDS | $1,176,275,181 | F |
| HIGH YIELD BANK LOANS | $1,221,595,815 | F |
| PRIVATE CREDIT | $215,643,580 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $2,613,514,576 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (4 entries)
| DescDesc | AmtAmt |
|---|---|
| UNPAID LOAN RESERVE | $22,915,664,000 |
| UNPAID LOSS ADJUSTMENT EXPENSE RESERVE | $314,989,000 |
| UNEARNED ASSESSMENTS | $126,836,000 |
| PAYABLE FOR SECURITIES LENDING | $291,509,503 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $23,648,998,503 | TotalLiabilityAmt |
Schedule F IRS990ScheduleF
Account Activities Outside US AccountActivitiesOutsideUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Region | Central America and the Caribbean | RegionTxt |
| Offices | 0 | OfficesCnt |
| Employee | 0 | EmployeeCnt |
| Type Of Activities Conducted | Investments | TypeOfActivitiesConductedTxt |
| Region Total Expenditures | $1,176,275,178 | RegionTotalExpendituresAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Offices | 0 | SubtotalOfficesCnt |
| Subtotal Employees | 0 | SubtotalEmployeesCnt |
| Continuation Total Office | 0 | ContinuationTotalOfficeCnt |
| Continuation Total Employee | 0 | ContinuationTotalEmployeeCnt |
| Total Office | 0 | TotalOfficeCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Subtotal Spent | $1,176,275,178 | SubtotalSpentAmt |
| Continuation Spent | $0 | ContinuationSpentAmt |
| Total Spent | $1,176,275,178 | TotalSpentAmt |
| Transfer To Foreign Corp | Yes (true) | TransferToForeignCorpInd |
| Interest In Foreign Trust | false | InterestInForeignTrustInd |
| Foreign Corp Ownership | Yes (true) | ForeignCorpOwnershipInd |
| Passive Foreign Investmest Co | false | PassiveForeignInvestmestCoInd |
| Foreign Partnership | Yes (true) | ForeignPartnershipInd |
| Boycott Countries | false | BoycottCountriesInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements | FormAndLineReferenceDesc |
| Explanation | CENTRAL AMERICA AND THE CARIBBEAN-Accrual | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | false | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | false | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | false | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (7 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| R Kevin Clinton | ||||||||||||||
| Executive Director | $373,563 | $0 | $90,250 | $0 | $14,010 | $0 | $27,278 | $0 | $1,324 | $0 | $506,425 | $0 | $0 | $0 |
| James D Lunsted | ||||||||||||||
| Controller | $219,608 | $0 | $23,820 | $0 | $3,810 | $0 | $22,377 | $0 | $16,219 | $0 | $285,834 | $0 | $0 | $0 |
| Joseph Erhardt | ||||||||||||||
| Assistant Executive Director | $353,937 | $0 | $87,500 | $0 | $12,180 | $0 | $18,396 | $0 | $15,204 | $0 | $487,217 | $0 | $0 | $0 |
| Kathryn Miller | ||||||||||||||
| General Counsell | $271,750 | $0 | $27,080 | $0 | $11,490 | $0 | $20,030 | $0 | $22,902 | $0 | $353,252 | $0 | $0 | $0 |
| William Mangold | ||||||||||||||
| IT Manager | $180,894 | $0 | $18,440 | $0 | $1,980 | $0 | $19,533 | $0 | $33,769 | $0 | $254,616 | $0 | $0 | $0 |
| Laura Kocot | ||||||||||||||
| Claims Manager | $166,553 | $0 | $17,040 | $0 | $690 | $0 | $17,041 | $0 | $29,612 | $0 | $230,936 | $0 | $0 | $0 |
| Wendy Horbal | ||||||||||||||
| Claims Manager | $164,993 | $0 | $17,040 | $0 | $1,290 | $0 | $15,292 | $0 | $34,998 | $0 | $233,613 | $0 | $0 | $0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (11 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part III, Line 1 | MICHIGAN CATASTROPHIC CLAIMS ASSOCIATION ("MCCA") WAS ESTABLISHED BY PUBLIC ACT 136 OF 1978, WHICH AMENDED THE NO-FAULT LAW BY ADDING SECTION 3104 EFFECTIVE JULY 1, 1978. THE LEGISLATURE CREATED MCCA BECAUSE SMALLER INSURANCE COMPANIES HAD DIFFICULTY OBTAINING REINSURANCE FOR MICHIGAN'S AUTOMOBILE NO-FAULT POLICIES, WHICH PROVIDED FOR UNLIMITED LIFETIME MEDICAL BENEFITS FOR PEOPLE WHO ARE CATASTROPHICALLY INJURED IN AUTO ACCIDENTS. THE MCCA IS AN UNINCORPORATED NON-PROFIT ASSOCIATION OF WHICH EVERY INSURER THAT SELLS AUTOMOBILE OR MOTORCYCLE COVERAGE IN MICHIGAN IS REQUIRED TO BE A MEMBER. THE MCCA IS FUNDED BY AN ANNUAL PREMIUM ASSESSMENT TO ITS MEMBER INSURANCE COMPANIES BASED ON THE NUMBER OF POLICIES COVERING AUTOMOBILES AND MOTORCYCLES WRITTEN IN MICHIGAN. THE MCCA IS REQUIRED TO ASSESS AN AMOUNT EACH YEAR THAT IS SUFFICIENT TO COVER THE LIFETIME CLAIMS OF ALL PERSONS CATASTROPHICALLY INJURED IN THAT YEAR AND IN ADDITION, MAY ADJUST FUTURE ASSESSMENTS FOR EXCESSES OR DEFICIENCIES IN PRIOR ASSESSMENTS. THESE ASSESSMENTS PROVIDE FUNDS FOR THE INDEMNIFICATION OF THOSE MEMBERS AGAINST ULTIMATE LOSS SUSTAINED UNDER STATUTORY REQUIRED PERSONAL PROTECTION INSURANCE IN EXCESS OF THE APPLICABLE AMOUNT SET FORTH IN SECTION 3104(2) OF THE MICHIGAN INSURANCE CODE. BEGINNING JULY 1, 2002, AS A RESULT OF THE ENACTMENT OF PUBLIC ACT 3 OF 2001, THE MEMBER RETENTION LEVEL INCREASED FROM $250,000 TO $300,000 AND THEN GRADUALLY INCREASED ON AN INCREMENTAL BASIS OVER A TEN-YEAR PERIOD UNTIL A $500,000 LEVEL WAS REACHED ON JULY 1, 2011. THEREAFTER, BEGINNING JULY 1, 2013, THE RETENTION WILL BE INCREASED EACH ODD NUMBERED YEAR BY 6% OR THE CONSUMER PRICE INDEX, WHICHEVER IS LESS. THE MEMBER RETENTION LEVEL FOR THE PERIOD JULY 1, 2021, THROUGH JUNE 30, 2023, IS $600,000, AND THE MEMBER RETENTION LEVEL FOR THE PERIOD JULY 1, 2023, THROUGH JUNE 30, 2025, IS $635,000. EFFECTIVE JUNE 11, 2019, PUBLIC ACTS 21 AND 22 OF 2019, PROVIDED FOR REFORMS IN MICHIGAN'S NO-FAULT AUTO INSURANCE LAW. FOR AUTO INSURANCE POLICIES ISSUED OR RENEWED AFTER JULY 1, 2020, DRIVERS WILL HAVE THE CHOICE OF THE FOLLOWING NO-FAULT MEDICAL BENEFIT COVERAGE LEVELS: $50,000 (IF A DRIVER IS ENROLLED IN MEDICAID), $250,000, $500,000, OR UNLIMITED. DRIVERS WITH QUALIFYING HEALTH INSURANCE COVERAGE MAY CHOOSE TO OPT OUT OF PERSONAL INJURY PROTECTION (PIP) MEDICAL BENEFITS ALTOGETHER. UNDER THE NEW LAW, the MCCA CONTINUES TO BE LIABLE FOR REIMBURSEMENT OF CATASTROPHIC INJURY BENEFITS PAYABLE UNDER POLICIES ISSUED OR RENEWED BEFORE JULY 2, 2020, AND FOR POLICIES AFTER JULY 1, 2020, WHERE DRIVERS MAINTAIN UNLIMITED NO-FAULT PIP MEDICAL BENEFITS. THE NEW LAW INCLUDES A MEDICARE-BASED FEE SCHEDULE THAT WILL GOVERN PAYMENTS TO MEDICAL PROVIDERS, INCLUDING DOCTORS, HOSPITALS, CLINICS AND REHABILITATION FACILITIES, FOR TREATMENT RENDERED AFTER JULY 1, 2021. FOR PRODUCTS, SERVICES AND ACCOMMODATIONS PROVIDED AFTER JULY 1, 2021, FOR WHICH THERE IS NO MEDICARE AMOUNT PAYABLE, PAYMENTS WILL BE REDUCED TO 55% OF THE PROVIDERS CHARGE DESCRIPTION MASTER IN EFFECT ON JANUARY 1, 2019, OR, IF THE PROVIDER DID NOT HAVE A CHARGE DESCRIPTION MASTER ON THAT DATE, 55% OF THE AVERAGE AMOUNT THE PROVIDER CHARGED ON THAT DATE. THE PERCENTAGE DECREASES TO 54% ON JULY 1, 2022, AND 52.5% ON JULY 1, 2023. ALTHOUGH MOST OF THE COST CONTROLS IN THE NEW LAW DO NOT TAKE EFFECT UNTIL JULY 2021, ACTUARIAL STANDARDS REQUIRE THE INCLUSION OF THE EFFECTS OF THE NEW LAW IN RESERVE ESTIMATES, AS IT IS EXPECTED TO REDUCE FUTURE PAYMENTS, WHICH REDUCE THE NEEDED RESERVES AS OF JUNE 30, 2020. THE LIABILITIES FOR LOSS AND LOSS ADJUSTMENT EXPENSE RESERVES AS OF JUNE 30, 2021, of $21,230,339,000 REFLECT A REDUCTION OF $4,396,465,000 DUE TO THE IMPACT OF COST CONTROLS. AS OF JUNE 30, 2021, THE MCCA'S ASSETS OF $27.290 BILLION EXCEEDED ITS THEN ESTIMATED LIABILITIES OF $22.254 BILLION, RESULTING IN AN ESTIMATED SURPLUS OF $5.036 BILLION. THUS, THE MCCA'S ASSETS EXCEEDED ITS ESTIMATED LIABILITIES BY APPROXIMATELY 22.63% AS OF JUNE 30, 2021. THE ESTIMATED SURPLUS RESULTED FROM REALIZED AND EXPECTED SAVINGS FROM REFORMS TO MICHIGAN's NO-FAULT INSURANCE LAW AND HIGHER THAN PROJECTED INVESTMENT RETURNS. IN NOVEMBER 2021, THE MCCA'S BOARD OF DIRECTORS UNANIMOUSLY DETERMINED THAT IT COULD FUND ALL ANTICIPATED LIABILITIES WHILE RETURNING APPROXIMATELY $3.000 BILLION OF ITS ESTIMATED SURPLUS TO ITS MEMBER INSURANCE COMPANIES TO REFUND TO POLICYHOLDERS. THE REMAINING SURPLUS BALANCE WAS RETAINED IN AN EFFORT TO ENSURE THAT THE MCCA CAN CONTINUE TO PROVIDE REIMBURSMENTS FOR PERSONAL PROTECTION INSURANCE BENEFITS IN THE EVENT OF UNFORESEEN CIRCUMSTANCES THAT MIGHT ARISE. BASED ON TOTAL APPLICABLE POLICIES IN-FORCE AS OF OCTOBER 31, 2021, THE MCCA DISTRIBUTED A LARGE PORTION OF ITS ESTIMATED SURPLUS TO ITS MEMBERS ON MARCH 9, 2022. MEMBERS WERE THEN RESPONSIBLE TO RETURN THOSE FUNDS TO POLICYHOLDERS ($400 PER VEHICLE AND $80 PER HISTORICAL VEHICLE) NO LATER THAN MAY 9, 2022. ON AUGUST 25, 2022, THE MICHIGAN COURT OF APPEALS DECISION IN ANDARY V USAA CASUALTY INSURANCE CO., COURT OF APPEALS DOCKET NO. 356487, HELD THAT THE FAMILY ATTENDANT CARE HOURLY LIMITS AND THE MEDICAL FEE SCHEDULE CREATED AS PART OF THE 2019 CHANGE TO MICHIGAN's NO-FAULT ACT CANNOT BE APPLIED TO LOSSES OCCURRING BEFORE JUNE 11, 2019. THIS INCREASED ESTIMATED LIABILITIES FOR LOSS AND LOSS ADJUSTMENT EXPENSE RESERVES AS OF JUNE 30, 2022, BY $3.709 BILLION. THE COST CONTROLS FOR LOSSES OCCURRING JUNE 11, 2019, AND AFTER AND THE IMPACT OF ORDER OF PRIORITY CHANGES DECREASED ESTIMATED LIABILITIES FOR LOSS AND LOSS ADJUSTMENT EXPENSE RESERVES AS OF JUNE 30, 2022, BY $0.995 BILLION. THE ESTIMATED LIABILITIES FOR LOSS AND LOSS ADJUSTMENT EXPENSE RESERVE AS OF JUNE 30, 2022, OF $24.646 BILLION REFLECT THESE CHANGES. ON SEPTEMBER 29, 2022, THE MICHIGAN SUPREME COURT DENIED A MOTION TO STAY THE ANDARY DECISION BUT AGREED TO HEAR THE CASE AND SCHEDULED ORAL ARGUMENTS IN MARCH 2023. AS OF JUNE 30, 2022, THE MCCA's ASSETS OF $21.855 BILLION WAS LESS THAN ITS THEN ESTIMATED LIABILITIES OF $25.530 BILLION, RESULTING IN AN ESTIMATED DEFICIT OF $3.675 BILLION. ON JULY 31, 2023, THE MICHIGAN SUPREME COURT ISSUED A DECISION THAT (1) UPHELD THE ANDARY DECISION THAT THE 2019 AMENDMENTS DO NOT APPLY TO CLAIMS ARISING UNDER POLICIES ISSUED BEFORE THE JUNE 19 AMENDMENTS (REVISED STATUTE DOES NOT APPLY RETROACTIVELY), AND (2) REVERSED THE COURT OF APPEALS DECISION TO REMAND THE CASE TO THE TRIAL COURT TO DETERMINE IF THE STATUTE IS CONSTITUTIONAL AS TO CLAIMS ARISING UNDER POLICIES ISSUED ON AND AFTER JUNE 11, 2019 (REVISED STATUTE APPLIES PROSPECTIVELY). THE ESTIMATED LIABILITIES FOR LOSS AND LOSS ADJUSTMENT EXPENSE RESERVES AS OF JUNE 30, 2023, OF $23.231 BILLION REFLECT THE MICHIGAN SUPREME COURT DECISION. AS OF JUNE 30, 2023, THE MCCA's ASSETS OF $21.618 BILLION WAS LESS THAN ITS THEN ESTIMATED LIABILTIES OF $23.667 BILLION, RESULTING IN AN ESTIMATED DEFICIT OF $2.054 BILLION. |
| Form 990, Part VI, Line 6 Classes of members or stockholders | THE ASSOCIATION IS A PRIVATE UNINCORPORATED NON-PROFIT ASSOCIATION OF WHICH EVERY INSURER THAT SELLS AUTOMOBILE OR MOTORCYCLE COVERAGE IN MICHIGAN IS REQUIRED TO BE A MEMBER. |
| Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders | CHANGES TO THE MCCA PLAN OF OPERATION REQUIRE APPROVAL OF THE STATE OF MICHIGAN DIRECTOR OF THE DEPARTMENT OF INSURANCE AND FINANCIAL SERVICES AND A MAJORITY VOTE OF THE MEMBER COMPANIES. |
| Form 990, Part VI, Line 11b Review of form 990 by governing body | AN INDEPENDENT PAID PREPARER PREPARES FORM 990, WHICH IS THEN REVIEWED BY MANAGEMENT. UPON COMPLETION OF THE REVIEW PROCESS, AN ELECTRONIC COPY IS MAILED TO THE AUDIT COMMITTEE CHAIR, GENERAL COUNSEL AND TO THE CHAIR OF THE BOARD OF DIRECTORS. OTHER DIRECTORS MAY REQUEST A COPY OF THE FORM. |
| Form 990, Part VI, Line 12c Conflict of interest policy | ALL EMPLOYEES, BOARD MEMBERS AND STANDING COMMITTEE MEMBERS ARE REQUIRED TO COMPLETE A CONFLICT-OF-INTEREST DISCLOSURE STATEMENT ANNUALLY. IN THE EVENT THAT A CONFLICT OF INTEREST ARISES, FOR A DIRECTOR, STANDING COMMITTEE MEMBER OR EMPLOYEE, THAT INDIVIDUAL IS REQUIRED TO PROMPTLY INFORM THE EXECUTIVE DIRECTOR OF THE MCCA. IN THE EVENT THAT AN ACTUAL OR POTENTIAL CONFLICT ARISES FOR THE EXECUTIVE DIRECTOR, THAT INDIVIDUAL IS REQUIRED TO PROMPTLY INFORM THE CHAIR OF THE BOARD OF DIRECTORS OF THE MCCA. ANY REPORTED CONFLICTS ARE REVIEWED BY THE EXECUTIVE DIRECTOR, THE CHAIR OF THE AUDIT COMMITTEE, AND THE CHAIR OF THE BOARD OF DIRECTORS, AND A RECORD IS KEPT OF EACH CONFLICT WHEN THE INTEREST BECOMES SUBJECT TO AND REQUIRES ACTION. ADDITIONALLY, ALL DIRECTORS ARE REQUIRED TO RECUSE THEMSELVES FROM ANY BOARD ACTION OR DECISION THAT INVOLVES THEIR COMPANY OR PERSONAL INTERESTS, INCLUDING NOT VOTING ON THE MATTER, NOT TAKING ACTION AND NOT USING PERSONAL INFLUENCE ON THE MATTER. |
| Form 990, Part VI, Line 15a Process to establish compensation of top management official | A HUMAN RESOURCES CONSULTANT IS RETAINED ON AN AS NEEDED BASIS TO VALIDATE THE MARKET SALARY RANGES FOR EACH POSITION. THE MCCA PERSONNEL COMMITTEE REVIEWS THE DATA AND MAKES A RECOMMENDATION OF ANY ADJUSTMENTS THAT THE FULL BOARD OF DIRECTORS DISCUSSES AND VOTES ON. IN ADDITION, ON AN ANNUAL BASIS, THE PERSONNEL COMMITTEE REVIEWS NATIONAL COMPARABILITY DATA REGARDING THE AVERAGE SALARY RANGE AND MERIT INCREASES AND MAKES A RECOMMENDATION THAT THE FULL BOARD OF DIRECTORS DISCUSSES AND VOTES ON. |
| Form 990, Part VI, Line 15b Process to establish compensation of other employees | A HUMAN RESOURCES CONSULTANT IS RETAINED ON AN AS NEEDED BASIS TO VALIDATE THE MARKET SALARY RANGES FOR EACH POSITION. THE MCCA PERSONNEL COMMITTEE REVIEWS THE DATA AND MAKES A RECOMMENDATION OF ANY ADJUSTMENTS THAT THE FULL BOARD OF DIRECTORS DISCUSSES AND VOTES ON. IN ADDITION, ON AN ANNUAL BASIS, THE PERSONNEL COMMITTEE REVIEWS NATIONAL COMPARABILITY DATA REGARDING THE AVERAGE SALARY RANGE AND MERIT INCREASES AND MAKES A RECOMMENDATION THAT THE FULL BOARD OF DIRECTORS DISCUSSES AND VOTES ON. |
| Form 990, Part VI, Line 19 Required documents available to the public | THE MCCA'S FORM 990 AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. THE MCCA'S GOVERNING DOCUMENTS (THE STATUTE THAT CREATED THE MCCA AND THE PLAN OF OPERATION) AND THE FINANCIAL STATEMENTS ARE AVAILABLE ON THE MCCA'S PUBLIC WEBSITE. |
| Form 990, Part IX, Column (A) LINES 22, 24a & 24b | EXPLANATIONS FOR NEGATIVE EXPENSES FOR LINE 22, DEPRECIATION, AND LINES FOR LOSSES INCURRED & ALLOCATED LOSS ADJUSTMENT EXPENSES, MCCA IS REFLECTING NEGATIVE EXPENSES DUE TO THE CHANGE IN UNALLOCATED LOSS ADJUSTMENT EXPENSE RESERVES FROM FISCAL YEAR 2022 TO FISCAL YEAR 2023 IN WHICH THE DECREASE IN UNALLOCATED EXPENSE RESERVES WAS GREATER THAN THE AMOUNT PAID IN FISCAL YEAR 2023 |
| Form 990, Part XI, Line 9 Other changes in net assets or fund balances | OTHER REALIZED ADJUSTMENTS AS A RESULT OF ASSET IMPAIRMENT - -XXX-XX-XXXX; CHANGE IN UNRECOGNIZED PENSION LIABILITY - 409635; SURPLUS DISTRIBUTION TO MEMBERS - -22688717; |
| Form 990, Part XII, Line 2b PART XII AND PART IV, LINE 12 | THE ORGANIZATION DID NOT RECEIVE AN AUDITED FINANCIAL STATEMENT FOR THE YEAR FOR WHICH IT IS COMPLETING THIS RETURN THAT WAS PREPARED IN ACCORDANCE WITH GAAP. THE ORGANIZATION RECEIVED AN AUDITED FINANCIAL STATEMENT FOR THE YEAR FOR WHICH IT IS COMPLETING THIS RETURN THAT WAS PREPARED IN ACCORDANCE WITH STATUTORY ACCOUNTING PRACTICES AS PRESCRIBED OR PERMITTED BY THE STATE OF MICHIGAN'S DEPARTMENT OF INSURANCE AND FINANCIAL SERVICES. PRESCRIBED STATUTORY ACCOUNTING PRACTICES INCLUDE THE NATIONAL ASSOCIATION OF INSURANCE COMMISSIONERS' STATEMENTS OF STATUTORY ACCOUNTING PRINCIPLES, AS WELL AS STATE LAWS, REGULATIONS AND GENERAL ADMINISTRATIVE RULES. PERMITTED STATUTORY ACCOUNTING PRACTICES ENCOMPASS ALL ACCOUNTING PRACTICES NOT SO PRESCRIBED. |