Maine Life And Health Insurance Guaranty Association is located in South China, ME. The organization was established in 1986. According to its NTEE Classification (E80) the organization is classified as: Health (General & Financing), under the broad grouping of Health Care and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maine Life And Health Insurance Guaranty Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Maine Life And Health Insurance Guaranty Association generated $806.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.2% each year. All expenses for the organization totaled $248.7k during the year ending 12/2021. While expenses have increased by 2.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ASSOCIATION WAS ESTABLISHED TO PROVIDE CERTAIN PROTECTIONS TO POLICYHOLDERS OF IMPAIRED OR INSOLVENT INSURERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE YEAR, MAINE LIFE AND HEALTH INSURANCE GUARANTY ASSOCIATION PROVIDED CERTAIN PROTECTIONS TO POLICYHOLDERS OF IMPAIRED OR INSOLVENT INSURERS IN ACCORDANCE WITH TITLE 24-A SECTION 4601 OF THE MAINE INSURANCE CODE.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Benjamin Johnston Treasurer Anthem | 2 | $0 | |
John G Lemoine Chairman Unum Life | 3 | $0 | |
Randi Reichel Secretary Unitedheal | 1 | $0 | |
Keith Jones Vice Chair National L | 1 | $0 | |
Thomas D Crohan Director John Hancock | 1 | $0 | |
Steve Rahn Directorlincoln Finan | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $0 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
Total Program Service Revenue | $804,570 |
Investment income | $1,621 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $806,595 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $52,346 |
Compensation of current officers, directors, key employees. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $120,000 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $7,750 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $1,273 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $0 |
Travel | $798 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $873 |
All other expenses | $0 |
Total functional expenses | $248,743 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $815,783 |
Savings and temporary cash investments | $323,437 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $0 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $1,139,220 |
Accounts payable and accrued expenses | $0 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $0 |
Net assets without donor restrictions | $1,139,220 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $1,139,220 |
Organization Name | Assets | Revenue |
---|---|---|
Delta Dental Plan Of Vermont Inc Concord, NH | $39,409,288 | $93,240,875 |
Maine Guaranteed Access Reinsurance Association Portland, ME | $111,387,710 | $103,548,873 |
New England Telehealth Consortium Bangor, ME | $1,337,342 | $3,057,335 |
New Hampshire Health Information Organization Corporation Concord, NH | $99,559 | $1,471,668 |
Gst Health Benefit Trust Weare, NH | $5,000 | $1,018,394 |
New Hampshire Life And Health Insurance Guaranty Association Bedford, NH | $1,509,742 | $566,509 |
Restore Hope Lyme, NH | $60,142 | $246,026 |
Maine Life And Health Insurance Guaranty Association South China, ME | $1,139,220 | $806,595 |
Robbie Foundation Scarborough, ME | $131,378 | $0 |
North Country Aco Littleton, NH | $3,080 | $0 |