Maine State Employees Assoc Income Protection Plan & Trust Agreement
Maine State Employees Assoc Income Protection Plan & Trust Agreement: Stable Finances, Low Overhead
EIN: 222553196 · Augusta, ME · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $6.9M |
| Total Expenses | $1.9M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $0 |
| Net Assets | $7.1M |
| Transparency Score | 75/100 |
Is Maine State Employees Assoc Income Protection Plan & Trust Agreement Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Maine State Employees Assoc Income Protection Plan & Trust Agreement directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Maine State Employees Assoc Income Protection Plan & Trust Agreement
Maine State Employees Assoc Income Protection Plan & Trust Agreement (EIN: 222553196) is a nonprofit organization based in Augusta, ME. The organization reported total revenue of $6.9M and total assets of $8.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Maine State Employees Assoc Income Protection Plan & Trust Agreement's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Maine State Employees Assoc Income Protection Plan & Trust Agreement is a mid-size nonprofit that has been operating for 41 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -2.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.7M |
| Total Expenses | $1.9M |
| Surplus / Deficit | $-178,553 |
| Total Assets | $7.5M |
| Total Liabilities | $379K |
| Net Assets | $7.1M |
| Operating Margin | -10.3% |
| Debt-to-Asset Ratio | 5.1% |
| Months of Reserves | 47.0 months |
Financial Health Grade: B
In 2023, Maine State Employees Assoc Income Protection Plan & Trust Agreement reported a deficit of $179K with expenses exceeding revenue, holds 47.0 months of operating reserves (strong position), has a debt-to-asset ratio of 5.1% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Maine State Employees Assoc Income Protection Plan & Trust Agreement's revenue has declined at a compound annual growth rate (CAGR) of -2.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -1.6% | +6.4% | +0.4% |
| 2022 | -9.4% | +1.5% | -7.7% |
| 2021 | -0.3% | +4.7% | +2.4% |
| 2020 | +4.1% | -9.8% | +6.6% |
| 2019 | -6.2% | +3.7% | +3.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1985 |
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 State Employees Assoc Income Protection Plan & Trust Agreement 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: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Maine State Employees Assoc Income Protection Plan & Trust Agreement allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% 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 $179K, with expenses exceeding revenue.
- Debt-to-asset ratio: 5.1%.
Executive Compensation Analysis
Executive compensation is reported as $0 across all available filings, suggesting that the organization is managed by volunteers or through an external, non-compensated trust arrangement, which is highly efficient.
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.
Strengths
The following positive indicators were identified for Maine State Employees Assoc Income Protection Plan & Trust Agreement:
- Consistent revenue generation and asset growth over the past several years.
- Extremely low administrative and fundraising overhead, with 0% reported compensation for key personnel.
- Stable financial position with assets consistently exceeding liabilities.
- Clear mission focused on income protection for state employees, reflected in its trust agreement structure.
Frequently Asked Questions about Maine State Employees Assoc Income Protection Plan & Trust Agreement
Is Maine State Employees Assoc Income Protection Plan & Trust Agreement a legitimate charity?
Maine State Employees Assoc Income Protection Plan & Trust Agreement (EIN: 222553196) 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: $6.9M. No red flags identified. 4 strengths noted. Financial health grade: B.
How does Maine State Employees Assoc Income Protection Plan & Trust Agreement spend its money?
Maine State Employees Assoc Income Protection Plan & Trust Agreement directs 90% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Maine State Employees Assoc Income Protection Plan & Trust Agreement tax-deductible?
Maine State Employees Assoc Income Protection Plan & Trust Agreement is registered as a tax-exempt nonprofit (EIN: 222553196). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Maine State Employees Assoc Income Protection Plan & Trust Agreement CEO make?
Maine State Employees Assoc Income Protection Plan & Trust Agreement's highest-compensated officer earns $0 annually. The organization reported $6.9M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Maine State Employees Assoc Income Protection Plan & Trust Agreement's spending goes to programs?
Maine State Employees Assoc Income Protection Plan & Trust Agreement directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Maine State Employees Assoc Income Protection Plan & Trust Agreement located?
Maine State Employees Assoc Income Protection Plan & Trust Agreement is headquartered in Augusta, Maine and files with the IRS under EIN 222553196.
How many years of IRS 990 filings does Maine State Employees Assoc Income Protection Plan & Trust Agreement have?
Maine State Employees Assoc Income Protection Plan & Trust Agreement 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 $6.9M in total revenue.
What does Maine State Employees Assoc Income Protection Plan & Trust Agreement do?
Maine State Employees Assoc Income Protection Plan & Trust Agreement is a nonprofit organization in the Unknown sector, located in Augusta, Maine. It is classified under NTEE code Unknown.
How much revenue does Maine State Employees Assoc Income Protection Plan & Trust Agreement have?
Maine State Employees Assoc Income Protection Plan & Trust Agreement reported total revenue of $6,891,698. Based on 13 IRS 990 filings on record.
What are Maine State Employees Assoc Income Protection Plan & Trust Agreement's total assets?
Maine State Employees Assoc Income Protection Plan & Trust Agreement holds total assets of $8,172,258 as reported in IRS 990 filings.
Where is Maine State Employees Assoc Income Protection Plan & Trust Agreement located?
Maine State Employees Assoc Income Protection Plan & Trust Agreement is based in Augusta, Maine.
What is Maine State Employees Assoc Income Protection Plan & Trust Agreement's EIN?
Maine State Employees Assoc Income Protection Plan & Trust Agreement's Employer Identification Number (EIN) is 222553196. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Maine State Employees Assoc Income Protection Plan & Trust Agreement?
Maine State Employees Assoc Income Protection Plan & Trust Agreement is classified under NTEE code Unknown (Unknown).
Is Maine State Employees Assoc Income Protection Plan & Trust Agreement a registered 501(c)(3)?
Maine State Employees Assoc Income Protection Plan & Trust Agreement appears in IRS records (EIN: 222553196). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Maine State Employees Assoc Income Protection Plan & Trust Agreement file IRS Form 990?
Yes, Maine State Employees Assoc Income Protection Plan & Trust Agreement has 13 IRS Form 990 filings on record. The most recent covers tax period 202306.
What was Maine State Employees Assoc Income Protection Plan & Trust Agreement's revenue in 2023?
In the 202306 filing period, Maine State Employees Assoc Income Protection Plan & Trust Agreement reported total revenue of $1,730,669, total expenses of $1,909,222, and net assets of $7,481,111.
Is Maine State Employees Assoc Income Protection Plan & Trust Agreement's revenue growing or declining?
Maine State Employees Assoc Income Protection Plan & Trust Agreement's revenue is relatively stable. Revenue went from $1,759,021 (202206) to $1,730,669 (202306), a -1.6% change. Based on 13 filings on record.
What is Maine State Employees Assoc Income Protection Plan & Trust Agreement's most recent 990 filing?
The most recent IRS Form 990 filing for Maine State Employees Assoc Income Protection Plan & Trust Agreement covers tax period 202306. It shows revenue of $1,730,669, expenses of $1,909,222, total assets of $7,481,111, and liabilities of $378,524.
How much does Maine State Employees Assoc Income Protection Plan & Trust Agreement spend on programs vs administration?
Based on IRS 990 analysis, Maine State Employees Assoc Income Protection Plan & Trust Agreement allocates approximately 90% of expenses to program services, 5% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Maine State Employees Assoc Income Protection Plan & Trust Agreement a trustworthy charity?
Based on AI analysis of IRS 990 data, Maine State Employees Assoc Income Protection Plan & Trust Agreement appears trustworthy. Mission Score: 75/100 (Good). No red flags identified. 4 strengths noted.
What are Maine State Employees Assoc Income Protection Plan & Trust Agreement's strengths?
Positive indicators for Maine State Employees Assoc Income Protection Plan & Trust Agreement include: Consistent revenue generation and asset growth over the past several years.. Extremely low administrative and fundraising overhead, with 0% reported compensation for key personnel.. Stable financial position with assets consistently exceeding liabilities.. Clear mission focused on income protection for state employees, reflected in its trust agreement structure.. These findings are derived from AI analysis of the organization's financial filings.
How does Maine State Employees Assoc Income Protection Plan & Trust Agreement compensate executives?
Executive compensation is reported as $0 across all available filings, suggesting that the organization is managed by volunteers or through an external, non-compensated trust arrangement, which is highly efficient. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Maine State Employees Assoc Income Protection Plan & Trust Agreement?
- The organization consistently reports 0% compensation for officers, directors, trustees, and key employees, indicating a volunteer-led or externally managed structure. - Detailed financial statements are available through public filings, showing consistent revenue and expense patterns over several years. - The trust agreement nature suggests a clear mandate for income protection, which is reflected in its stable financial operations. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
Given the consistent reporting of $0 for executive compensation and the nature of a 'Trust Agreement,' what is the operational model for this organization, and how are administrative functions managed without paid leadership?
The operational model likely involves a volunteer board of trustees overseeing the trust, with administrative functions potentially outsourced to a third-party administrator or managed by state employee volunteers, ensuring minimal overhead and direct benefit to members.
How does the 'Income Protection Plan' specifically function, and what are the primary mechanisms through which it provides income protection to Maine State Employees?
While the filings provide financial data, the specific mechanisms of the income protection plan (e.g., disability insurance, supplemental income, etc.) are not detailed. Further investigation into the trust's governing documents would be needed to understand the exact benefits and distribution methods.
Filing History
IRS 990 filing history for Maine State Employees Assoc Income Protection Plan & Trust Agreement showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Maine State Employees Assoc Income Protection Plan & Trust Agreement's revenue has declined by 30.2%, moving from $2.5M to $1.7M. Total assets increased by 27.4% over the same period, from $5.9M to $7.5M. Total functional expenses fell by 12.5%, from $2.2M to $1.9M. In its most recent filing year (2023), Maine State Employees Assoc Income Protection Plan & Trust Agreement reported a deficit of $179K, with expenses exceeding revenue. The organization holds $379K in liabilities against $7.5M in assets (debt-to-asset ratio: 5.1%), resulting in net assets of $7.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.7M | $1.9M | $7.5M | $379K | — | View 990 |
| 2022 | $1.8M | $1.8M | $7.5M | $141K | — | View 990 |
| 2021 | $1.9M | $1.8M | $8.1M | $97K | — | — |
| 2020 | $1.9M | $1.7M | $7.9M | $131K | — | View 990 |
| 2019 | $1.9M | $1.9M | $7.4M | $109K | — | View 990 |
| 2018 | $2.0M | $1.8M | $7.1M | $112K | — | View 990 |
| 2017 | $2.2M | $2.0M | $7.0M | $98K | — | View 990 |
| 2016 | $2.2M | $2.2M | $6.9M | $87K | — | View 990 |
| 2015 | $2.3M | $1.8M | $6.8M | $72K | — | View 990 |
| 2014 | $2.1M | $1.9M | $6.3M | $87K | — | View 990 |
| 2013 | $2.3M | $2.0M | $6.2M | $94K | — | View 990 |
| 2012 | $2.4M | $2.2M | $6.1M | $65K | — | View 990 |
| 2011 | $2.5M | $2.2M | $5.9M | $73K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.7M, expenses of $1.9M, and assets of $7.5M (revenue -1.6% year-over-year).
- 2022: Revenue of $1.8M, expenses of $1.8M, and assets of $7.5M (revenue -9.4% year-over-year).
- 2021: Revenue of $1.9M, expenses of $1.8M, and assets of $8.1M (revenue -0.3% year-over-year).
- 2020: Revenue of $1.9M, expenses of $1.7M, and assets of $7.9M (revenue +4.1% year-over-year).
- 2019: Revenue of $1.9M, expenses of $1.9M, and assets of $7.4M (revenue -6.2% year-over-year).
- 2018: Revenue of $2.0M, expenses of $1.8M, and assets of $7.1M (revenue -8.7% year-over-year).
- 2017: Revenue of $2.2M, expenses of $2.0M, and assets of $7.0M (revenue -1.4% year-over-year).
- 2016: Revenue of $2.2M, expenses of $2.2M, and assets of $6.9M (revenue -4.2% year-over-year).
- 2015: Revenue of $2.3M, expenses of $1.8M, and assets of $6.8M (revenue +8.4% year-over-year).
- 2014: Revenue of $2.1M, expenses of $1.9M, and assets of $6.3M (revenue -5.5% year-over-year).
- 2013: Revenue of $2.3M, expenses of $2.0M, and assets of $6.2M (revenue -4.1% year-over-year).
- 2012: Revenue of $2.4M, expenses of $2.2M, and assets of $6.1M (revenue -4.9% year-over-year).
- 2011: Revenue of $2.5M, expenses of $2.2M, and assets of $5.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Maine State Employees Assoc Income Protection Plan & Trust Agreement:
Data Sources and Methodology
This transparency report for Maine State Employees Assoc Income Protection Plan & Trust Agreement 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.