Maine Self Insurance Guaranty Association
Maine Self Insurance Guaranty Association maintains stable assets and low liabilities with no reported officer compensation.
EIN: 10390410 · Portland, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.0M |
| Total Expenses | $208K |
| Program Spending | 70% |
| CEO/Top Officer Pay | $4.5M |
| Net Assets | $4.4M |
| Transparency Score | 75/100 |
Is Maine Self Insurance Guaranty Association Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Maine Self Insurance Guaranty Association directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Maine Self Insurance Guaranty Association
Maine Self Insurance Guaranty Association (EIN: 10390410) is a nonprofit organization based in Portland, ME. The organization reported total revenue of $2.0M and total assets of $4.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Maine Self Insurance Guaranty Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Maine Self Insurance Guaranty Association is a mid-size nonprofit that has been operating for 42 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $175K |
| Total Expenses | $208K |
| Surplus / Deficit | $-33,168 |
| Total Assets | $4.4M |
| Total Liabilities | $34K |
| Net Assets | $4.4M |
| Operating Margin | -19.0% |
| Debt-to-Asset Ratio | 0.8% |
| Months of Reserves | 256.4 months |
Financial Health Grade: B
In 2023, Maine Self Insurance Guaranty Association reported a deficit of $33K with expenses exceeding revenue, holds 256.4 months of operating reserves (strong position), has a debt-to-asset ratio of 0.8% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Maine Self Insurance Guaranty Association's revenue has grown at a compound annual growth rate (CAGR) of 6.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +9.6% | +11.7% | +2.0% |
| 2022 | -9.5% | -0.6% | -6.1% |
| 2021 | -12.5% | -6.5% | -2.4% |
| 2020 | -28.7% | -0.1% | +1.9% |
| 2019 | +69.7% | +8.2% | +1.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1984 |
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 Self Insurance Guaranty Association 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: 25%
- programs: 70%
- fundraising: 5%
According to IRS 990 filings, Maine Self Insurance Guaranty Association allocates its expenses as follows: admin: 25%, programs: 70%, fundraising: 5%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $33K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.8%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that its leadership is either unpaid or compensated through other means not categorized as officer compensation, which is highly unusual for an organization of its asset size ($4.5M+).
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 Self Insurance Guaranty Association's IRS 990 filings:
- Unexplained significant jump in 'Latest Revenue' compared to historical trends.
- Consistent 0% officer compensation for an organization with over $4 million in assets, which may obscure true leadership costs or indicate an unusual operational model.
Strengths
The following positive indicators were identified for Maine Self Insurance Guaranty Association:
- Strong financial stability with assets consistently far exceeding liabilities (e.g., $4.4M assets vs. $33K liabilities in 2023).
- Consistent filing of IRS Form 990s over 13 periods, indicating good transparency practices.
- Predictable and stable historical revenue and expense patterns, suggesting consistent operations.
- No reported officer compensation, potentially indicating a highly efficient or volunteer-led executive structure.
Frequently Asked Questions about Maine Self Insurance Guaranty Association
Is Maine Self Insurance Guaranty Association a legitimate charity?
Maine Self Insurance Guaranty Association (EIN: 10390410) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $2.0M. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Maine Self Insurance Guaranty Association spend its money?
Maine Self Insurance Guaranty Association directs 70% of its spending to programs and services. Fundraising costs 5%. This meets the 65% industry benchmark.
Are donations to Maine Self Insurance Guaranty Association tax-deductible?
Maine Self Insurance Guaranty Association is registered as a tax-exempt nonprofit (EIN: 10390410). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Maine Self Insurance Guaranty Association CEO make?
Maine Self Insurance Guaranty Association's highest-compensated officer earns $4.5M annually. The organization reported $2.0M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Maine Self Insurance Guaranty Association's spending goes to programs?
Maine Self Insurance Guaranty Association directs 70% to programs, 5% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Maine Self Insurance Guaranty Association located?
Maine Self Insurance Guaranty Association is headquartered in Portland, Maine and files with the IRS under EIN 10390410.
How many years of IRS 990 filings does Maine Self Insurance Guaranty Association have?
Maine Self Insurance Guaranty Association has 13 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 $2.0M in total revenue.
Why is officer compensation consistently reported as 0%?
The IRS 990 filings consistently show 0% officer compensation, which is unusual for an organization managing over $4 million in assets. This could mean officers are volunteers, compensated by a related entity, or their compensation is reported in a different category.
What caused the significant increase in 'Latest Revenue' to $2,029,529 compared to historical annual revenues of ~$200,000?
The latest reported revenue is substantially higher than the historical annual revenues. This discrepancy requires clarification to understand if it represents a one-time event, a change in accounting, or a new operational phase for the organization.
What are the primary 'expenses' for an organization like the Maine Self Insurance Guaranty Association?
Given its name, the organization likely incurs expenses related to managing a guaranty fund, which could include legal fees, claims processing, administrative overhead, and investment management fees, rather than direct program service delivery typical of other nonprofits.
Filing History
IRS 990 filing history for Maine Self Insurance Guaranty Association showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Maine Self Insurance Guaranty Association's revenue has grown by 114.8%, moving from $81K to $175K. Total assets decreased by 4.6% over the same period, from $4.7M to $4.4M. Total functional expenses rose by 245.4%, from $60K to $208K. In its most recent filing year (2023), Maine Self Insurance Guaranty Association reported a deficit of $33K, with expenses exceeding revenue. The organization holds $34K in liabilities against $4.4M in assets (debt-to-asset ratio: 0.8%), resulting in net assets of $4.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $175K | $208K | $4.4M | $34K | — | View 990 |
| 2022 | $159K | $186K | $4.4M | $990 | — | View 990 |
| 2021 | $176K | $187K | $4.6M | $51K | — | — |
| 2020 | $201K | $200K | $4.8M | $54K | — | — |
| 2019 | $282K | $200K | $4.7M | $55K | — | View 990 |
| 2018 | $166K | $185K | $4.6M | $81K | — | View 990 |
| 2017 | $164K | $210K | $4.7M | $123K | — | View 990 |
| 2016 | $209K | $219K | $4.9M | $331K | — | View 990 |
| 2015 | $176K | $203K | $5.2M | $645K | — | View 990 |
| 2014 | $197K | $195K | $4.6M | $14K | — | View 990 |
| 2013 | $154K | $208K | $4.7M | $120K | — | View 990 |
| 2012 | $59K | $88K | $4.7M | $30K | — | View 990 |
| 2011 | $81K | $60K | $4.7M | $2K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $175K, expenses of $208K, and assets of $4.4M (revenue +9.6% year-over-year).
- 2022: Revenue of $159K, expenses of $186K, and assets of $4.4M (revenue -9.5% year-over-year).
- 2021: Revenue of $176K, expenses of $187K, and assets of $4.6M (revenue -12.5% year-over-year).
- 2020: Revenue of $201K, expenses of $200K, and assets of $4.8M (revenue -28.7% year-over-year).
- 2019: Revenue of $282K, expenses of $200K, and assets of $4.7M (revenue +69.7% year-over-year).
- 2018: Revenue of $166K, expenses of $185K, and assets of $4.6M (revenue +1.3% year-over-year).
- 2017: Revenue of $164K, expenses of $210K, and assets of $4.7M (revenue -21.5% year-over-year).
- 2016: Revenue of $209K, expenses of $219K, and assets of $4.9M (revenue +18.4% year-over-year).
- 2015: Revenue of $176K, expenses of $203K, and assets of $5.2M (revenue -10.5% year-over-year).
- 2014: Revenue of $197K, expenses of $195K, and assets of $4.6M (revenue +27.7% year-over-year).
- 2013: Revenue of $154K, expenses of $208K, and assets of $4.7M (revenue +162.4% year-over-year).
- 2012: Revenue of $59K, expenses of $88K, and assets of $4.7M (revenue -27.6% year-over-year).
- 2011: Revenue of $81K, expenses of $60K, and assets of $4.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Maine Self Insurance Guaranty Association:
Data Sources and Methodology
This transparency report for Maine Self Insurance Guaranty Association 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.