Main Insurance Agents Assoc

Main Insurance Agents Assoc shows consistent revenue growth and asset accumulation with no reported officer compensation.

EIN: 10219810 · Hallowell, ME · Updated: 2026-03-28

$1.2MRevenue

$1.2MAssets

75/100Mission Score (Good)

Is Main Insurance Agents Assoc Legit?

Some Concerns

GoodFiling Consistency

GoodSpending Efficiency

GoodTransparency

2 FoundRed Flags

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

Main Insurance Agents Assoc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.

About Main Insurance Agents Assoc

Main Insurance Agents Assoc (EIN: 10219810) is a nonprofit organization based in Hallowell, ME. The organization reported total revenue of $1.2M and total assets of $1.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Main Insurance Agents Assoc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Main Insurance Agents Assoc demonstrates consistent financial growth and stability over the past decade. Revenue has steadily increased from $757,209 in 2015 to $1,187,508 in the latest period, indicating a healthy ability to generate income. Expenses have also risen proportionally, suggesting an expansion of activities. The organization consistently maintains a positive net income, contributing to a growing asset base, which stood at $1,234,591 in the latest filing.

The organization appears to manage its finances prudently, with liabilities remaining relatively low compared to assets. A notable aspect is the reported 0% officer compensation across all available filings, which suggests either a volunteer-led executive team or that compensation is reported under other expense categories, warranting further investigation for complete transparency. Without a detailed breakdown of program, administrative, and fundraising expenses, a precise assessment of spending efficiency is challenging.

Overall, Main Insurance Agents Assoc exhibits strong financial health with consistent revenue growth and asset accumulation. However, the lack of reported officer compensation and the absence of detailed expense breakdowns in the provided data limit a full assessment of its spending efficiency and transparency regarding executive remuneration.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Main Insurance Agents Assoc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 20%
programs: 70%
fundraising: 10%

According to IRS 990 filings, Main Insurance Agents Assoc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.

Executive Compensation Analysis

The organization consistently reports 0% officer compensation across all available filings, which is unusual for an organization of its size with over $1 million in annual revenue. This could indicate a volunteer-led executive team or that executive compensation is categorized differently, which impacts transparency.

Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.

Red Flags

The following concerns were identified during AI analysis of Main Insurance Agents Assoc's IRS 990 filings:

Consistent 0% officer compensation reported, which may obscure actual executive remuneration if it's categorized elsewhere.
NTEE Code is unknown, which limits understanding of its specific mission and peer group for comparison.

Strengths

The following positive indicators were identified for Main Insurance Agents Assoc:

Consistent revenue growth, increasing from $757,209 in 2015 to $1,187,508 in the latest period.
Strong asset growth, from $697,541 in 2015 to $1,234,591 currently, indicating financial stability.
Maintains a positive net income consistently, with revenue exceeding expenses in all reported periods.
Relatively low liabilities compared to assets, suggesting good financial management and solvency.

Frequently Asked Questions about Main Insurance Agents Assoc

Is Main Insurance Agents Assoc a legitimate charity?

Based on AI analysis of IRS 990 filings, Main Insurance Agents Assoc (EIN: 10219810) some concerns. Mission Score: 75/100. 2 red flags identified, 4 strengths noted.

How does Main Insurance Agents Assoc spend its money?

Main Insurance Agents Assoc directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.

Are donations to Main Insurance Agents Assoc tax-deductible?

Main Insurance Agents Assoc is registered as a tax-exempt nonprofit (EIN: 10219810). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.

Is Main Insurance Agents Assoc a good charity?

Based on the provided financial data, Main Insurance Agents Assoc demonstrates strong financial health with consistent revenue growth and asset accumulation. However, without detailed program spending ratios and clarity on executive compensation, a full assessment of its charitable effectiveness is limited.

How has the organization's revenue grown over time?

Main Insurance Agents Assoc has shown consistent revenue growth, increasing from $757,209 in 2015 to $1,187,508 in the latest period, representing a significant increase over the decade.

What is the trend in the organization's assets?

The organization's assets have steadily grown from $697,541 in 2015 to $1,234,591 in the latest period, indicating financial stability and accumulation of resources.

Why is officer compensation reported as 0%?

The consistent reporting of 0% officer compensation across all filings is unusual for an organization of this size. It suggests either a volunteer executive leadership or that compensation is reported under other expense categories, which would require further investigation for complete transparency.

Filing History

IRS 990 filing history for Main Insurance Agents Assoc showing financial trends over 14 years of public records:

Over 14 years of IRS 990 filings (2011–2024), Main Insurance Agents Assoc's revenue has grown by 53.9%, moving from $710K to $1.1M. Total assets increased by 94% over the same period, from $596K to $1.2M. Total functional expenses rose by 32.2%, from $728K to $962K. In its most recent filing year (2024), Main Insurance Agents Assoc reported a surplus of $132K, with revenue exceeding expenses. The organization holds $54K in liabilities against $1.2M in assets (debt-to-asset ratio: 4.6%), resulting in net assets of $1.1M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2024	$1.1M	$962K	$1.2M	$54K	—	View 990
2023	$964K	$951K	$988K	$99K	—	View 990
2022	$941K	$883K	$945K	$83K	—	View 990
2021	$881K	$873K	$1.0M	$116K	—	View 990
2020	$766K	$751K	$913K	$93K	—	View 990
2019	$846K	$836K	$838K	$44K	—	View 990
2018	$854K	$822K	$807K	$26K	—	View 990
2017	$825K	$788K	$797K	$59K	—	View 990
2016	$792K	$763K	$722K	$26K	—	View 990
2015	$757K	$738K	$698K	$39K	—	View 990
2014	$732K	$738K	$684K	$20K	—	View 990
2013	$779K	$765K	$666K	$14K	—	View 990
2012	$757K	$716K	$638K	$17K	—	View 990
2011	$710K	$728K	$596K	$41K	—	View 990

Year-by-Year Financial Summary

2024: Revenue of $1.1M, expenses of $962K, and assets of $1.2M (revenue +13.4% year-over-year).
2023: Revenue of $964K, expenses of $951K, and assets of $988K (revenue +2.5% year-over-year).
2022: Revenue of $941K, expenses of $883K, and assets of $945K (revenue +6.8% year-over-year).
2021: Revenue of $881K, expenses of $873K, and assets of $1.0M (revenue +15.0% year-over-year).
2020: Revenue of $766K, expenses of $751K, and assets of $913K (revenue -9.4% year-over-year).
2019: Revenue of $846K, expenses of $836K, and assets of $838K (revenue -0.9% year-over-year).
2018: Revenue of $854K, expenses of $822K, and assets of $807K (revenue +3.5% year-over-year).
2017: Revenue of $825K, expenses of $788K, and assets of $797K (revenue +4.1% year-over-year).
2016: Revenue of $792K, expenses of $763K, and assets of $722K (revenue +4.7% year-over-year).
2015: Revenue of $757K, expenses of $738K, and assets of $698K (revenue +3.4% year-over-year).
2014: Revenue of $732K, expenses of $738K, and assets of $684K (revenue -6.0% year-over-year).
2013: Revenue of $779K, expenses of $765K, and assets of $666K (revenue +3.0% year-over-year).
2012: Revenue of $757K, expenses of $716K, and assets of $638K (revenue +6.6% year-over-year).
2011: Revenue of $710K, expenses of $728K, and assets of $596K.

Data Sources and Methodology

This transparency report for Main Insurance Agents Assoc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.

IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.