2024-06-18T11:45:50-05:00 2023-12-31 382029668 GJC CPA'S & ADVISORS 1001 WOODWARD AVENUE SUITE 850 DETROIT MI 482261904 990 2023-01-01 237231188 MICHIGAN PROPERTY AND CASUALTY GUARANTY ASSOCIATION MICH 2484820381 39810 GRAND RIVER AVENUE 120 NOVI MI 483752139 JEFFERY JENKINS EXECUTIVE DIRECTOR 2484820381 2024-06-18 1 JEFFERY JENKINS 999009999 1 MICHAEL R NICHOLAS P00966144 3139652655 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z JEFFERY JENKINS 39810 GRAND RIVER AVENUE 120 NOVI MI 483752139 64106045 0 X WWW.MPCGA.COM X 1969 MI TO REVIEW, ADJUST, AND MAKE PAYMENTS OF COVERED CLAIMS FROM MEMBER INSOLVENT PROPERTY AND CASUALTY INSURANCE COMPANIES THAT WERE LICENSED IN THE STATE OF MICHIGAN 7 7 11 0 0 0 0 0 11343208 8853405 4951708 2468887 0 0 16294916 11322292 0 0 0 0 1702394 1661751 0 0 0 30658128 11886611 32360522 13548362 -16065606 -2226070 123183615 125011204 44208464 41149758 78975151 83861446 X THE MICHIGAN PROPERTY AND CASUALTY GUARANTY ASSOCIATION ("MPCGA") IS AN UNINCORPORATED ASSOCIATION OF ALL PROPERTY AND CASUALTY INSURERS AUTHORIZED TO TRANSACT INSURANCE IN MICHIGAN. MPCGA WAS CREATED BY AN ACT OF THE MICHIGAN LEGISLATURE, MCL 500.7901 ET SEQ., IN ORDER TO PROTECT THE PUBLIC AGAINST FINANCIAL LOSSES TO POLICYHOLDERS AND CLAIMANTS AS A RESULT OF PROPERTY AND CASUALTY INSURANCE COMPANY INSOLVENCIES. WHEN A MEMBER INSURER BECOMES INSOLVENT, MPCGA HAS A DUTY TO PAY CERTAIN OBLIGATIONS OF THE INSOLVENT INSURER THAT COME WITHIN THE ACT'S DEFINITION OF COVERED CLAIMS. MPCGA DOES NOT HANDLE CLAIMS ARISING OUT OF LIFE OR DISABILITY INSURANCE OR ANNUITY CONTRACTS. 0 0 MPCGA IS AN UNINCORPORATED ASSOCIATION OF ALL PROPERTY AND CASUALTY INSURERS AUTHORIZED TO TRANSACT INSURANCE IN MICHIGAN. MPCGA WAS CREATED BY AN ACT OF THE MICHIGAN LEGISLATURE, MCL 500.7901 ET SEQ., IN ORDER TO PROTECT THE PUBLIC AGAINST FINANCIAL LOSSES TO POLICYHOLDERS AND CLAIMANTS AS A RESULT OF PROPERTY AND CASUALTY INSURANCE COMPANY INSOLVENCIES. WHEN A MEMBER INSURER BECOMES INSOLVENT, MPCGA HAS A DUTY TO PAY CERTAIN OBLIGATIONS OF THE INSOLVENT INSURER THAT COME WITHIN THE ACT'S DEFINITION OF COVERED CLAIMS. MPCGA DOES NOT HANDLE CLAIMS ARISING OUT OF LIFE OR DISABILITY INSURANCE OR ANNUITY CONTRACTS. 0 0 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 269 0 1 11 1 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 0 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MI X X JOHN ARMENT 2484820381 39810 GRAND RIVER AVENUE SUITE 120 NOVI MI 483752139 JAMES MORITZ CHAIR 1.00 X X 0 0 0 STEVEN DONNELLY BOARD MEMBER 1.00 X 0 0 0 RICHARD L FOX BOARD MEMBER 1.00 X 0 0 0 AMY MASS BOARD MEMBER 1.00 X 0 0 0 SUZANNE PHILLIPS BOARD MEMBER 1.00 X 0 0 0 OMARI SANKOFA BOARD MEMBER 1.00 X 0 0 0 MARGARET SCHESKE BOARD MEMBER 1.00 X 0 0 0 JEFFERY JENKINS EXECUTIVE DIRECTOR 38.80 X 223540 0 38571 JOHN ARMENT DIRECTOR OF FINANCE AND ADMIN. 38.80 X 181133 0 32303 LAURA MYERS CLAIMS MANAGER 38.80 X 134409 0 31087 LORI RICE ACCOUNTING MANAGER 38.80 X 118969 0 29479 BEN CZAPIEWSKI SENIOR CLAIMS ADJUSTER 38.80 X 102576 0 21086 760627 0 152526 5 0 1 0 0 INDEMNIFICATION RECEIPTS 524298 6572819 6572819 LIQUIDATION RECOVERIES 524298 2137371 2137371 SUBROGATION RECEIPTS 524298 143215 143215 8853405 3299871 3299871 51952769 52783753 -830984 -830984 -830984 11322292 8022421 0 3299871 479874 722256 220256 121211 118154 84565 45683 35983 63840 117831 6124 8597 15439 46756 LOSS ADJUSTMENTS 8454335 MEMBER REFUNDS 2779423 MEMBERSHIP DUES 162520 EQUIPMENT MAINTENANCE 65515 13548362 151763 51764 4405530 3502842 61648 65719 443747 420016 24898 23731 116100967 118191113 2438809 3176035 123183615 125011204 128559 169788 44079905 40979970 44208464 41149758 X 0 0 0 0 78975151 83861446 78975151 83861446 123183615 125011204 -2226070 7112365 0 X X 0 1 X 1 0 1 1 0 16688 16688 0 182567 161106 21461 244492 242222 2270 23731 LOSS AND LOSS ADJUSTMENT EXPENSE RESERVES 40787711 OPERATING LEASE LIABILITIES 192259 40979970 X 4606258 0 4606258 6716034 6716034 11322292 6832328 0 6832328 6716034 6716034 13548362 PART X, LINE 2: MPCGA'S MANAGEMENT IS NOT AWARE OF ANY UNCERTAIN TAX POSITIONS OR UNRECOGNIZED TAX BENEFITS AS OF DECEMBER 31, 2023 OR 2022. PART XI, LINE 4B - OTHER ADJUSTMENTS: INDEMNIFICATION RECEIPTS 6,572,819. SUBROGATION RECEIPTS 143,215. PART XII, LINE 4B - OTHER ADJUSTMENTS: INDEMNIFICATION RECEIPTS 6,572,819. SUBROGATION RECEIPTS 143,215. X X X X 0 0 0 JEFFERY JENKINS EXECUTIVE DIRECTOR 223540 0 0 0 0 0 11565 0 27006 0 262111 0 0 0 JOHN ARMENT DIRECTOR OF FINANCE AND ADMIN. 181133 0 0 0 0 0 9405 0 22898 0 213436 0 0 0 LAURA MYERS CLAIMS MANAGER 134409 0 0 0 0 0 6945 0 24142 0 165496 0 0 0 FORM 990, PART VI, SECTION A, LINE 7B APPOINTMENTS OF A SERVICING FACILITY MUST BE APPROVED BY THE STATE OF MICHIGAN DEPARTMENT OF INSURANCE AND FINANCIAL SERVICES ("MDIFS") COMMISSIONER/DIRECTOR. ALSO, CHANGES TO THE PLAN OF OPERATIONS REQUIRE APPROVAL OF THE MDIFS COMMISSIONER/DIRECTOR AND A MAJORITY VOTE OF THE MEMBER COMPANIES. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT REVIEWS FORM 990, WHICH IS PREPARED BY AN OUTSIDE C.P.A. FIRM. THE REPORT WILL THEN BE PRESENTED AND REVIEWED BY THE CHAIR OF THE AUDIT COMMITTEE. THE REPORT WILL ALSO BE FORWARDED TO THE BOARD OF GOVERNORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL EMPLOYEES, BOARD MEMBERS, AND COMMITTEE MEMBERS ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST STATEMENT ANNUALLY. ANY REPORTED CONFLICTS ARE REVIEWED BY THE EXECUTIVE DIRECTOR, CORPORATE COUNSEL, AND THE CHAIR OF THE BOARD OF GOVERNORS. FORM 990, PART VI, SECTION B, LINE 15 A HUMAN RESOURCES CONSULTANT IS RETAINED EVERY TWO TO THREE YEARS TO VALIDATE THE MARKET RANGES FOR EACH POSITION. MPCGA'S MANAGEMENT ASKS FOR A SALARY "POOL" BASED ON MARKET RESEARCH. THE MPCGA COMPENSATION COMMITTEE (WHICH CONSISTS OF THREE MEMBERS OF THE BOARD OF GOVERNORS) REVIEWS THE DATA AND RECOMMENDS SALARY ADJUSTMENTS THAT THE FULL BOARD DISCUSSES AND VOTES ON. BASED ON A PERFORMANCE MODEL, THE SALARY POOL IS THEN DISTRIBUTED BY MPCGA'S MANAGEMENT TO THE EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE STATUTE THAT CREATED MPCGA IS AVAILABLE ON THE ORGANIZATION'S WEBSITE, AS ARE THE INCOME STATEMENT AND BALANCE SHEET. FORM 990, PART XII, ITEM 1: MPCGA USES A MODIFIED CASH BASIS OF ACCOUNTING TO PREPARE FORM 990 AND ITS AUDITED FINANCIAL STATEMENTS THAT IS IN ACCORDANCE WITH RECOMMENDED FINANCIAL REPORTING GUIDELINES ISSUED BY THE NATIONAL CONFERENCE OF INSURANCE GUARANTY FUNDS.