Maine Oil Dealers Association Insurance Trust
Maine Oil Dealers Association Insurance Trust shows stable finances with recent deficit, no reported officer compensation.
EIN: 16029907 · Brunswick, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4.3M |
| Total Expenses | $4.0M |
| Program Spending | 85% |
| Net Assets | $1.5M |
| Transparency Score | 75/100 |
Is Maine Oil Dealers Association Insurance Trust Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Maine Oil Dealers Association Insurance Trust directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Maine Oil Dealers Association Insurance Trust
Maine Oil Dealers Association Insurance Trust (EIN: 16029907) is a nonprofit organization based in Brunswick, ME. The organization reported total revenue of $4.3M and total assets of $2.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Maine Oil Dealers Association Insurance Trust's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Maine Oil Dealers Association Insurance Trust is a mid-size nonprofit that has been operating for 58 years, with 14 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.3M |
| Total Expenses | $4.0M |
| Surplus / Deficit | $-688,061 |
| Total Assets | $2.0M |
| Total Liabilities | $436K |
| Net Assets | $1.5M |
| Operating Margin | -20.6% |
| Debt-to-Asset Ratio | 22.0% |
| Months of Reserves | 5.9 months |
Financial Health Grade: B
In 2023, Maine Oil Dealers Association Insurance Trust reported a deficit of $688K with expenses exceeding revenue, holds 5.9 months of operating reserves (adequate), has a debt-to-asset ratio of 22.0% (moderate leverage).
Financial Trends
Over 14 years of filings (2011–2023), Maine Oil Dealers Association Insurance Trust's revenue has grown at a compound annual growth rate (CAGR) of 1.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -5.2% | +22.9% | -19.5% |
| 2022 | -2.9% | -4.8% | -3.7% |
| 2021 | -9.5% | -8.9% | +4.1% |
| 2020 | -1.7% | -8.0% | +5.5% |
| 2019 | +1.3% | +14.9% | +18.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1968 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Maine Oil Dealers Association Insurance Trust 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Maine Oil Dealers Association Insurance Trust allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $688K, with expenses exceeding revenue.
- Debt-to-asset ratio: 22.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, suggesting either that no officers receive compensation or that compensation is reported in a different section of the 990 not summarized here. This indicates either strong financial stewardship or a need for deeper scrutiny into compensation reporting practices.
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 Maine Oil Dealers Association Insurance Trust's IRS 990 filings:
- Recent deficit in 2023 ($3,343,164 revenue vs. $4,031,225 expenses)
- Lack of detailed functional expense breakdown in summary data
Strengths
The following positive indicators were identified for Maine Oil Dealers Association Insurance Trust:
- Consistent financial reporting over 14 filings
- Generally stable asset base relative to liabilities (e.g., $1,982,498 assets vs. $436,291 liabilities in 2023)
- No reported officer compensation, indicating potential for low overhead or volunteer leadership
- History of revenue exceeding expenses in most periods (e.g., 2022 revenue $3,524,878 vs. expenses $3,279,687)
Frequently Asked Questions about Maine Oil Dealers Association Insurance Trust
Is Maine Oil Dealers Association Insurance Trust a legitimate charity?
Maine Oil Dealers Association Insurance Trust (EIN: 16029907) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 75/100. It has 14 years of IRS 990 filings on record. Total revenue: $4.3M. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Maine Oil Dealers Association Insurance Trust spend its money?
Maine Oil Dealers Association Insurance Trust directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Maine Oil Dealers Association Insurance Trust tax-deductible?
Maine Oil Dealers Association Insurance Trust is registered as a tax-exempt nonprofit (EIN: 16029907). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Maine Oil Dealers Association Insurance Trust's spending goes to programs?
Maine Oil Dealers Association Insurance Trust directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Maine Oil Dealers Association Insurance Trust located?
Maine Oil Dealers Association Insurance Trust is headquartered in Brunswick, Maine and files with the IRS under EIN 16029907.
How many years of IRS 990 filings does Maine Oil Dealers Association Insurance Trust have?
Maine Oil Dealers Association Insurance Trust has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $4.3M in total revenue.
What constitutes the 'program' spending for an insurance trust?
For an insurance trust like the Maine Oil Dealers Association Insurance Trust, 'program' spending would primarily consist of insurance claims paid out to members, risk management services, and other direct benefits provided to its beneficiaries. Without detailed functional expense data, the exact breakdown is not available in this summary.
Why is officer compensation consistently reported as 0%?
The consistent reporting of 0% for officer compensation could mean that the organization's officers are uncompensated volunteers, or that their compensation is reported under different expense categories (e.g., as part of administrative salaries if they are also employees) and not specifically identified as 'officer compensation' on the summarized 990 data. Further review of the full 990 forms would be necessary to clarify this.
What caused the deficit in the 2023 fiscal period?
In the 2023 fiscal period, expenses of $4,031,225 exceeded revenue of $3,343,164. The specific reasons for this deficit are not detailed in the provided summary but could be due to higher-than-expected insurance claims, increased operational costs, or a temporary dip in premium income. This is a single-year event following several years of surpluses or near-balance.
Filing History
IRS 990 filing history for Maine Oil Dealers Association Insurance Trust showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2023), Maine Oil Dealers Association Insurance Trust's revenue has grown by 18.5%, moving from $2.8M to $3.3M. Total assets increased by 324.3% over the same period, from $467K to $2.0M. Total functional expenses rose by 40%, from $2.9M to $4.0M. In its most recent filing year (2023), Maine Oil Dealers Association Insurance Trust reported a deficit of $688K, with expenses exceeding revenue. The organization holds $436K in liabilities against $2.0M in assets (debt-to-asset ratio: 22.0%), resulting in net assets of $1.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.3M | $4.0M | $2.0M | $436K | — | — |
| 2022 | $3.5M | $3.3M | $2.5M | $275K | — | View 990 |
| 2021 | $3.6M | $3.4M | $2.6M | $487K | — | View 990 |
| 2020 | $4.0M | $3.8M | $2.5M | $498K | — | — |
| 2019 | $4.1M | $4.1M | $2.3M | $638K | — | View 990 |
| 2018 | $4.0M | $3.6M | $2.0M | $306K | — | View 990 |
| 2017 | $4.0M | $2.9M | $1.6M | $335K | — | View 990 |
| 2016 | $1.2M | $1.3M | $172K | $50K | — | View 990 |
| 2016 | $3.5M | $3.7M | $214K | $0 | — | — |
| 2015 | $3.2M | $3.2M | $416K | $0 | — | View 990 |
| 2014 | $3.0M | $3.0M | $430K | $0 | — | View 990 |
| 2013 | $3.2M | $3.2M | $446K | $0 | — | View 990 |
| 2012 | $3.0M | $3.0M | $439K | $0 | — | View 990 |
| 2011 | $2.8M | $2.9M | $467K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.3M, expenses of $4.0M, and assets of $2.0M (revenue -5.2% year-over-year).
- 2022: Revenue of $3.5M, expenses of $3.3M, and assets of $2.5M (revenue -2.9% year-over-year).
- 2021: Revenue of $3.6M, expenses of $3.4M, and assets of $2.6M (revenue -9.5% year-over-year).
- 2020: Revenue of $4.0M, expenses of $3.8M, and assets of $2.5M (revenue -1.7% year-over-year).
- 2019: Revenue of $4.1M, expenses of $4.1M, and assets of $2.3M (revenue +1.3% year-over-year).
- 2018: Revenue of $4.0M, expenses of $3.6M, and assets of $2.0M (revenue +1.3% year-over-year).
- 2017: Revenue of $4.0M, expenses of $2.9M, and assets of $1.6M (revenue +231.2% year-over-year).
- 2016: Revenue of $1.2M, expenses of $1.3M, and assets of $172K (revenue -65.8% year-over-year).
- 2016: Revenue of $3.5M, expenses of $3.7M, and assets of $214K (revenue +8.8% year-over-year).
- 2015: Revenue of $3.2M, expenses of $3.2M, and assets of $416K (revenue +8.5% year-over-year).
- 2014: Revenue of $3.0M, expenses of $3.0M, and assets of $430K (revenue -6.9% year-over-year).
- 2013: Revenue of $3.2M, expenses of $3.2M, and assets of $446K (revenue +6.6% year-over-year).
- 2012: Revenue of $3.0M, expenses of $3.0M, and assets of $439K (revenue +6.2% year-over-year).
- 2011: Revenue of $2.8M, expenses of $2.9M, and assets of $467K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Maine Oil Dealers Association Insurance Trust:
Data Sources and Methodology
This transparency report for Maine Oil Dealers Association Insurance Trust 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.