Maine Automobile Insurance Plan
- Assets
- $11.6k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Johnston, RI
- Founding
- 06/1972
- Data as of
- 12/2023
- EIN
- 23-7174076
Organization Overview
Maine Automobile Insurance Plan is located in Johnston, RI. The organization was established in 1972. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maine Automobile Insurance Plan 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 12/2023, Maine Automobile Insurance Plan generated $67.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (7.2%) each year. All expenses for the organization totaled $66.1k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (5.2%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
TO MAKE MOTOR VEHICLE INSURANCE AVAILABLE FOR PERSONSNOT ABLE TO OBTAIN COVERAGE IN THE VOLUNTARY MARKET.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Gov Comm Member | 0.1 | $0 | |
Name Not Listed Gov Comm Member | 0.1 | $0 | |
Name Not Listed Gov Comm Member | 0.1 | $0 | |
Name Not Listed Gov Comm Member | 0.1 | $0 | |
Name Not Listed Gov Comm Member | 0.1 | $0 | |
Name Not Listed Gov Comm Member | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $66,670 |
| Investment income | $816 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $67,486 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $49,100 |
| Professional fees and other payments to independent contractors | $14,513 |
| Occupancy, rent, utilities, and maintenance | $1,943 |
| Printing, publications, postage, and shipping | $255 |
| Other expenses | $264 |
| Total expenses | $66,075 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $9,941 |
| Other assets | $0 |
| Total assets | $11,641 |
| Total liabilities | $34,715 |
| Net assets or fund balances | -$23,074 |