Me Credit Union League Ins Tr
- Assets
- $1.9m
- Revenue
- $8.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Westbrook, ME
- Founding
- Data as of
- 03/2024
- EIN
- 83-6759671
Organization Overview
Me Credit Union League Ins Tr is located in Westbrook, ME. According to its NTEE Classification (Y43) the organization is classified as: Voluntary Employees Beneficiary Associations (Non-Government), 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. ME Credit Union League Ins Tr is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 03/2024, ME Credit Union League Ins Tr generated $8.5m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $7.6m during the year ending 03/2024. While expenses have increased by 11.1% per year over the past 4 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HEALTH BENEFITS TO ITS MEMBERS' EMPLOYEES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADMINISTERS A GROUP HEALTH PROGRAM FOR THE BENEFIT OF THE MEMBERS OF MAINE CREDIT UNION LEAGUE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kim Daigle Administrator | Officer | 4 | $0 |
Christina Carter Chair | OfficerTrustee | 1 | $0 |
Cathy Bond Thru 033124 Trustee | Trustee | 1 | $0 |
Joe Moses Trustee | Trustee | 1 | $0 |
Ryan Poulin Trustee | Trustee | 1 | $0 |
Deb White-Rideout Trustee | Trustee | 1 | $0 |
Financial Statements
| 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 | $8,432,211 |
| Investment income | $59,842 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,233 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,493,286 |
| 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 | $6,563,343 |
| 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 | $0 |
| Fees for services: Legal | $74,649 |
| Fees for services: Accounting | $30,025 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,610 |
| Fees for services: Other | $32,000 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $7,659 |
| All other expenses | $87,227 |
| Total functional expenses | $7,573,386 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $920,733 |
| Savings and temporary cash investments | $0 |
| 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 | $71,607 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $732,670 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $167,459 |
| Total assets | $1,892,469 |
| Accounts payable and accrued expenses | $89,705 |
| 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 | $649,613 |
| Total liabilities | $739,318 |
| Net assets without donor restrictions | $0 |
| 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 | $1,153,151 |
| Total liabilities and net assets/fund balances | $1,892,469 |