Michigan Electrical Employees Insurance Fund
501(c)(9)
100% goes to programs Strong reserves Growing revenue
Michigan Electrical Employees Insurance Fund is a 501(c)(9) organization based in Madison Hts, Michigan, registered in 1956, with $61,804,185 in FY2023 revenue. CharityIndex grades it A, and it directs about 100% of spending to programs.
1423 E 12 Mile Rd, Madison Hts, MI, 48071 EIN 38-2106878 Since 1956
Revenue (FY2023)
$61.8M
▲ 31.0% vs prior year
Expenses (FY2023)
$57.2M
Net assets
$53.2M
Employees
0
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
A+Program efficiency40% of the rating100% to programs
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Michigan Electrical Employees Insurance Fund: 100% to programs earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating11 mo reserves · +7% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Michigan Electrical Employees Insurance Fund: 11 mo reserves · +7% margin earns a A on this criterion. See the exact thresholds →
AGovernance25% of the rating5 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Michigan Electrical Employees Insurance Fund: 5 of 6 checks met earns a A on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Michigan Electrical Employees Insurance Fund: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
Provide health and welfare benefits.
Contact & location
- Address
- 1423 E 12 Mile Rd, Madison Hts, MI, 48071
- City
- Madison Hts
- State
- Michigan
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $30.7M (FY2013) to $61.8M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $15.9MNet assets $53.2M
Operating margin
7.4%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$69.0M
Total liabilities
$15.9M
Net assets
$53.2M
Salaries & benefits
$0
0% of expenses
Board members
8
2 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $61,804,185▲31.0% | $57,219,337▲24.7% | $53,163,376▲21.0% | $69,030,982▲23.2% | 990 |
| 2022 | $47,187,873▲6.0% | $45,892,148▲13.4% | $43,940,801▲9.1% | $56,022,223▲9.9% | 990 |
| 2021 | $44,503,451▼4.1% | $40,456,172▼13.4% | $40,263,327▼12.0% | $50,991,660▼13.9% | 990 |
| 2020 | $46,423,003▲22.6% | $46,698,461▲24.9% | $45,772,459▲6.4% | $59,225,707▲14.3% | 990 |
| 2019 | $37,852,895▼1.0% | $37,383,409▼4.7% | $43,002,484▲5.5% | $51,816,663▲3.1% | 990 |
| 2018 | $38,222,490▲2.6% | $39,242,173▲5.0% | $40,753,656▼0.6% | $50,280,389▼2.9% | 990 |
| 2017 | $37,253,227▲12.1% | $37,358,967▲4.2% | $41,002,186▼0.1% | $51,807,636▲2.2% | 990 |
| 2016 | $33,219,606▲4.0% | $35,848,114▲8.3% | $41,036,554▼4.3% | $50,672,457▼3.2% | 990 |
| 2015 | $31,942,573▼6.3% | $33,114,073▲13.6% | $42,880,447▲0.7% | $52,346,423▲3.3% | 990 |
| 2014 | $34,105,483▲11.1% | $29,158,142▲1.8% | $42,573,148▼2.1% | $50,690,633▼0.3% | 990 |
| 2013 | $30,688,121 | $28,636,554▲7.6% | $43,466,206▲14.1% | $50,857,279▲14.4% | 990 |
| 2012 | — | $26,610,558▼0.5% | $38,100,557▲2.9% | $44,464,671▲0.6% | 990 |
| 2011 | — | $26,744,779▲3.0% | $37,038,686▲6.6% | $44,215,563▲3.0% | 990 |
| 2010 | — | $25,973,855▼0.8% | $34,735,583▲5.1% | $42,937,803▲4.3% | 990 |
| 2009 | — | $26,172,727 | $33,065,538 | $41,160,696 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Aaron Pangborn | Secretary | 1 | — |
| Andy Mosswer | Trustee | 1 | — |
| Bryan Benton | Trustee | 1 | — |
| David Fashbaugh | Trustee | 1 | — |
| Evan Allardyce | Trustee | 1 | — |
| Jonas Talbott | Trustee | 1 | — |
| Kurtis Monroe | Trustee | 1 | — |
| Neil Parish | Chairman | 1 | — |
| Paul Kelley | Trustee | 1 | — |
| Steven Cook | Trustee | 1 | — |
| Thomas Hogan | Trustee | 1 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Blue Cross Blue Shield of Michigan | Claim Admin | $2,577,501 |
| Wilson Mcshane | Tpa Admin | $660,472 |
| Morgan Stanley Smith Barney LLC | Custodian | $468,472 |
| Reinhart Boerner Van Deuren Sc | Legal | $154,810 |
Frequently asked questions
- Is Michigan Electrical Employees Insurance Fund a legitimate nonprofit?
- Yes. Michigan Electrical Employees Insurance Fund is a 501(c)(9) organization registered with the U.S. Internal Revenue Service under EIN 38-2106878, based in Madison Hts, Michigan.
- What is Michigan Electrical Employees Insurance Fund's EIN?
- Michigan Electrical Employees Insurance Fund's Employer Identification Number (EIN) is 38-2106878.
- How much revenue does Michigan Electrical Employees Insurance Fund report?
- Michigan Electrical Employees Insurance Fund reported $61,804,185 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Michigan Electrical Employees Insurance Fund's spending goes to programs?
- Michigan Electrical Employees Insurance Fund spends about 100% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Michigan Electrical Employees Insurance Fund have?
- CharityIndex grades Michigan Electrical Employees Insurance Fund A, based on program efficiency and fundraising cost.
- How much does Michigan Electrical Employees Insurance Fund's highest-paid employee make?
- The highest reported compensation on Michigan Electrical Employees Insurance Fund's latest Form 990 is $0, paid to Aaron Pangborn (Secretary).
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Data for Michigan Electrical Employees Insurance Fund (EIN 38-2106878) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.