Michigan Automobile Insurance Placement Facility
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2011 | 7,575,316 | 8,427,423 | −852,107 | 3.5 | 7% |
| 2012 | 8,592,592 | 10,305,493 | −1,712,901 | 2.5 | 8% |
| 2013 | 261,336,991 | 269,620,023 | −8,283,032 | -0.1 | 0% |
| 2014 | 32,551,760 | 53,284,428 | −20,732,668 | -1.7 | 2% |
| 2015 | 34,131,990 | 40,268,221 | −6,136,231 | -0.7 | 3% |
| 2016 | 41,381,632 | 53,320,982 | −11,939,350 | -0.8 | 3% |
| 2017 | 41,960,512 | 63,438,471 | −21,477,959 | -0.9 | 3% |
| 2018 | 39,020,728 | 46,092,692 | −7,071,964 | -0.6 | 4% |
| 2019 | 33,230,187 | 37,676,285 | −4,446,098 | 0.1 | 5% |
| 2020 | 24,180,833 | 19,902,491 | 4,278,342 | 5.5 | 10% |
| 2021 | 26,699,927 | 31,927,372 | −5,227,445 | 5.7 | 7% |
| 2022 | 24,306,711 | 20,553,385 | 3,753,326 | 13.1 | 14% |
| 2023 | 18,880,748 | 23,195,140 | −4,314,392 | 12.2 | 14% |
In its most recent public year (2023), this organization spent $4,314,392 more than it brought in. Its reserves stood at about 12.2 months of spending, up from 3.5 in 2011. Staff pay was 14% of spending.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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