2024-11-01T12:44:33-05:00 2023-12-31 381910111 UHY ADVISORS GREAT LAKES INC 455 E EISENHOWER SUITE 102 ANN ARBOR MI 48108 990 2023-01-01 382435780 COMPENSATION ADVISORY ORGANIZATION OF MICHIGAN COMP 7344629600 19500 VICTORY PARKWAY DRIVE 475 LIVONIA MI 48152 DAVE BRUECKMAN PRESIDENT 7344629600 2024-11-01 1 0 MICHAEL SANTICCHIA P00046899 7342131040 2024-11-01 2023 2024-10-15 13:58:12Z DAVE BRUECKMAN 19500 VICTORY PARKWAY DRIVE 475 LIVONIA MI 48152 3572363 0 X WWW.CAOM.COM X 1983 MI MICHIGAN'S AUTHORIZED WORKERS' COMPENSATION (WC) DATA COLLECTION ORGANIZATION (DCO) SUPPORTING THE VOLUNTARY PROPERTY & CASUALTY INSURANCE INDUSTRY AND MANAGING THE WC RESIDUAL MARKET THROUGH THE MICHIGAN WORKERS' COMPENSATION PLACEMENT FACILITY (MWCPF) 9 9 32 0 7328 0 0 0 3208646 3540014 24858 1338 7193 7328 3240697 3548680 0 0 0 0 1652376 1592437 0 0 0 475717 517251 2128093 2109688 1112604 1438992 4551303 4709210 3499751 2911111 1051552 1798099 X MICHIGAN'S DATA COLLECTION ORGANIZATION (DCO) RESPONSIBLE FOR COLLECTING WORKERS' COMPENSATION POLICY AND CLAIM DATA FOR USE IN PROMULGATING EXPERIENCE MODIFICATION FACTORS, PUBLISHING VOLUNTARY LOSS COSTS FOR MICHIGAN'S VOLUNTARY PROPERTY & CASUALTY INSURANCE MARKET AND ESTABLISHING RATES FOR RESIDUAL MARKET. CAOM IS AUTHORIZED THROUGH THE DATA COLLECTION AGENCY TO SUPPORT THE VOLUNTARY WC MARKET AND OVERSEE THE RESIDUAL MARKET WHICH IS SUPPORTED BY THE MICHIGAN WORKERS' COMPENSATION PLACEMENT FACILITY (MWCPF) 0 0 1889699 CAOM SUPPORTED THEIR DATA COLLECTION RESPONSIBILITIES THROUGH THEIR UNIT STATISTICAL REPORTING AND FINANCIAL DATA CALL INITIATIVES. RECENTLY, CAOM INSTITUTED A NEW INDEMNITY DATA CALL IN ORDER TO OBTAIN DETAILED POLICY AND CLAIM INFORMATION ON INDEMNITY CLAIMS THAT WILL FACILITATE ESTIMATING THE IMPACT OF FUTURE LEGISLATIVE CHANGES. IN ADDITION TO THE DATA COLLECTION, CAOM CONTINUES PROMULGATING EXPERIENCE MODIFICATION FACTORS FOR THE INDUSTRY. FINALLY, CAOM SERVES AS THE PLAN ADMINISTRATOR FOR THE MICHIGAN WORKERS' COMPENSATION PLACEMENT FACILITY WHICH PROVIDES WORKERS' COMPENSATION COVERAGE FOR BUSINESS UNABLE TO PROCURE INSURANCE THROUGH THE VOLUNTARY MARKET 1889699 0 0 0 0 0 0 0 0 0 1 1 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 1 0 0 1 25 0 32 1 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MI X X X DAVE BRUECKMAN 7344629600 17197 N LAUREL PARK DRIVE STE 311 LIVONIA MI 48152 KERI KITTMAN BOARD MEMBER 1.00 X 0 0 0 APRIL SMITH BOARD MEMBER 1.00 X 0 0 0 CHRIS DOEBLER BOARD MEMBER 1.00 X 0 0 0 BRIAN MELAS BOARD MEMBER 1.00 1.00 X 0 0 0 STEVE CROFTON BOARD MEMBER 1.00 X 0 0 0 BETTY CARBONE BOARD MEMBER 1.00 X 0 0 0 WIL EDIE BOARD MEMBER 1.00 1.00 X 0 0 0 MARISUE NEWMAN BOARD MEMBER 1.00 X 0 0 0 ED HANLON BOARD MEMBER 1.00 1.00 X 0 0 0 DAVE BRUECKMAN PRESIDENT 17.00 20.50 X 315451 0 5309 ALAN BURNS SVP, CHIEF ACTUARY 17.00 20.50 X 245866 0 6814 PAUL LIPSCOMB VP, OPERATIONS 17.00 20.50 X 144777 0 4798 ALEX BEDOWAY VP, LEAD ACTUARY 17.00 20.50 X 162595 0 4193 JAYARAJ SUBRAMANIAN IT MANAGER 17.00 20.50 X 178418 0 3235 MICHAEL C TITHOF ACTUARY III 17.00 20.50 X 117371 0 4328 1164478 0 28677 6 0 1 0 0 MEMBER ASSESSMENTS 524298 3160064 3160064 OTHER FEES 524298 270700 270700 MEMBERSHIP FEES 524298 109250 109250 3540014 25021 25021 23683 -23683 -23683 -23683 EQUIPMENT USAGE 524298 7328 7328 7328 3548680 3516331 7328 25021 X 258048 258048 900125 757158 142967 98677 86540 12137 253427 227250 26177 82160 74176 7984 16296 16296 24800 24800 272520 272520 32943 28066 4877 49364 49364 73992 48145 25847 9743 9743 2375 2375 13323 13323 18174 18174 EQUIPMENT MAINTENANCE A 2050 2050 SUBSCRIPTIONS 1624 1624 PROPERTY TAXES 47 47 2109688 1889699 219989 0 536184 493992 2650793 2845505 15329 5570 1503342 1307118 56562 196224 1114560 1163842 177875 4077 4551303 4709210 203013 177377 3296738 2733734 3499751 2911111 X 1051552 1798099 1051552 1798099 4551303 4709210 X 1438992 137090 -5579 -823956 X X 0 1 X 1 0 1503342 1307118 196224 196224 INVESTMENT IN CDX LLC 1000 C INVESTMENT - MONEY MARKET, BOND 1162842 F 1163842 ACCRUED POST-RETIREMENT BENEFIT OBLIGATION LIABILITY 1466353 ACCRUED PENSION LIABILITY 1263304 OPERATING LEASE LIABILITY 4077 2733734 X 3790823 137090 110632 247722 3543101 5579 5579 3548680 3049855 934588 934588 2115267 -5579 -5579 2109688 PART X, LINE 2: THE ORGANIZATION ADOPTED ASC GUIDANCE REGARDING ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES THAT CLARIFIES THE ACCOUNTING FOR INCOME TAXES BY PRESCRIBING THE MINIMUM RECOGNITION THRESHOLD AN INCOME TAX POSITION IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS AND APPLIES TO ALL INCOME TAX POSITIONS. EACH INCOME TAX POSITION IS ASSESSED USING A TWO-STEP PROCESS. A DETERMINATION IS FIRST MADE AS TO WHETHER IT IS MORE LIKELY THAN NOT THAT THE INCOME TAX POSITION WILL BE SUSTAINED, BASED UPON TECHNICAL MERITS, UPON EXAMINATION BY THE TAXING AUTHORITIES. IF THE INCOME TAX POSITION IS EXPECTED TO MEET THE MORE LIKELY THAN NOT CRITERIA, THE BENEFIT RECORDED IN THE FINANCIAL STATEMENTS EQUALS THE LARGEST AMOUNT THAT IS GREATER THAN 50% LIKELY TO BE REALIZED UPON ITS ULTIMATE SETTLEMENT. AT DECEMBER 31, 2022, THERE WERE NO UNCERTAIN TAX POSITIONS THAT REQUIRED ACCRUAL. PART XI, LINE 2D - OTHER ADJUSTMENTS: ROU RELATED LEASE INCOME 110,632. PART XII, LINE 2D - OTHER ADJUSTMENTS: PRIOR YEAR REAPPORTIONMENT 823,956. ROU RELATED LEASE EXPENSE 110,632. X X 0 0 0 DAVE BRUECKMAN PRESIDENT 311665 0 0 0 3786 0 0 0 5309 0 320760 0 0 0 ALAN BURNS SVP, CHIEF ACTUARY 242856 0 0 0 3010 0 0 0 6814 0 252680 0 0 0 JAYARAJ SUBRAMANIAN IT MANAGER 177161 0 0 0 1257 0 0 0 3235 0 181653 0 0 0 ALEX BEDOWAY VP, LEAD ACTUARY 161888 0 0 0 707 0 0 0 4193 0 166788 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS VOTING MEMBERS FORM 990, PART VI, SECTION A, LINE 7A ALL BOARD MEMBERS MAY VOTE OR ELECT OTHER MEMBERS FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED AND VERIFIED BY THE PRESIDENT AND THE OFFICE MANAGER PRIOR TO NOTIFYING THE GOVERNING BOARD MEMBERS OF ITS AVAILABILITY. THE GOVERNING BOARD MEMBERS MAY REQUEST A COPY FOR THEIR REVIEW AND/OR RAISE ANY QUESTIONS AT THE SEPTEMBER GOVERNING BOARD MEETING PRIOR TO FILING THE RETURN FORM 990, PART VI, SECTION B, LINE 12C GOVERNING BOARD MEMBERS ARE ANNUALLY REQUIRED TO SIGN A CONFLICT OF INTEREST STATEMENT ACKNOWLEDGING THAT THEY DO NOT HAVE ANY CONFLICTS OF INTEREST SERVING ON THE BOARD. FURTHER, SINCE THE BOARD IS COMPRISED OF MEMBER CARRIERS, BOARD REPRESENTATIVES ARE ASKED TO ABSTAIN FROM VOTING IF THE ISSUE BEING DISCUSSED COULD IMPACT THEIR COMPANY FORM 990, PART VI, SECTION B, LINE 15 THE GOVERNING BOARDS REVIEW THE PRESIDENT & CEO'S SALARY ANNUALLY AND DETERMINES ANY INCREASE OR BONUS. THE BOARD CHAIR SENDS THAT SALARY INFORMATION TO THE OFFICE MANAGER - ADMINISTRATIVE AND COPIES THE ORGANIZATION'S LEGAL COUNSEL TO ENSURE THAT THE INFORMATION IS NOT COMPROMISED. MANAGEMENT AND STAFF ARE EVALUATED AGAINST BENCHMARKED JOB DESCRIPTIONS ON AN ANNUAL BASIS. THE ORGANIZATION'S SALARY BUDGET IS REVIEWED BY THE OPERATIONS COMMITTEE PRIOR TO SUBMITTING THE ENTIRE ANNUAL BUDGET TO THE GOVERNING BOARD FOR APPROVAL FORM 990, PART VI, SECTION C, LINE 18 THE IRS POSTS FORM 990 TO ITS WEBSITE. ALL GOVERNING BOARD MEMBERS ARE MADE AWARE OF A PENDING 990 FILING AND OFFERED A COPY SHOULD THEY WISH TO REVIEW. ADDITIONALLY, FORM 990 IS MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST TO THE ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE PUBLICLY AVAILABLE ON OUR WEBSITE (WWW.CAOM.COM ). THE CONFLICT OF INTEREST POLICY IS MADE AVAILABLE TO EMPLOYEES IN THE EMPLOYEE HANDBOOK. ALL EMPLOYEES HAVE ACCESS TO THIS DOCUMENT THROUGH INTERNAL FILE SHARING. THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED TO BOARD AND COMMITTEE MEMBERS ANNUALLY AND MUST BE SIGNED TO ENSURE THOSE MEMBERS HAVE NO CONFLICT OF INTEREST WHILE SITTING ON THE BOARD. THE CONFLICT OF INTEREST POLICY IS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. FINANCIAL STATEMENTS ARE REVIEWED AND APPROVED ANNUALLY BY THE AUDIT COMMITTEE AND THE JOINT GOVERNING BOARD. FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 17,220. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 17,220. COOPERATIVE JOINT VENTURES: PROGRAM SERVICE EXPENSES 255,300. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 255,300. FORM 990, PART XI, LINE 9: PRIOR YEAR REAPPORTIONMENT -823,956. PART XII, LINE 2C THE PROCESS FOR THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR HAVE NOT CHANGED DURING THE YEAR. MICHIGAN WORKERS COMPENSATION PLACEMENT FACILITY 17197 N LAUREL PARK DRIVE LIVONIA MI 48152 382435776 PLACE HIGH RISK WORKERS COMP INSUREDS WITH VARIOUS CARRIERS TO SPREAD RISK MI 501(C)(6) N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 MICHIGAN WORKERS' COMPENSATION PLACEMENT FACILITY N 198097 ACTUAL EXPENSES MICHIGAN WORKERS' COMPENSATION PLACEMENT FACILITY O 1841036 ACTUAL EXPENSES MICHIGAN WORKERS' COMPENSATION PLACEMENT FACILITY Q 205175 ACTUAL EXPENSES