Maine Guaranteed Access Reinsurance Association
99% goes to programs $0 to raise $100 Strong reserves Declining revenue
Maine Guaranteed Access Reinsurance Association is a 501(c)(4) organization based in Portland, Maine, registered in 2015, with $79,759,393 in FY2024 revenue. CharityIndex grades it A, and it directs about 99% of spending to programs.
254 Commercial Street, Portland, ME, 04101 EIN 45-4331075 Since 2015
Revenue (FY2024)
$79.8M
▼ 16.0% vs prior year
Health median: $840K
Expenses (FY2024)
$61.1M
Net assets
$53.5M
Employees
0
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
A+Program efficiency40% of the rating99% to programs · $0 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Maine Guaranteed Access Reinsurance Association: 99% to programs · $0 to raise $100 earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating11 mo reserves · +23% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Maine Guaranteed Access Reinsurance Association: 11 mo reserves · +23% margin earns a A on this criterion. See the exact thresholds →
BGovernance25% of the rating4 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Maine Guaranteed Access Reinsurance Association: 4 of 6 checks met earns a B on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Maine Guaranteed Access Reinsurance Association: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
A reinsurance program for the high risk segment of maine's individual health insurance market.
Contact & location
- Address
- 254 Commercial Street, Portland, ME, 04101
- City
- Portland
- State
- Maine
- Category
- Health Care
- Subcategory
- Health Care Financing
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $9.1M (FY2014) to $79.8M (FY2024) across 11 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $33.4MNet assets $53.5M
Operating margin
23.4%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$87.0M
Total liabilities
$33.4M
Net assets
$53.5M
Salaries & benefits
$0
0% of expenses
Board members
12
12 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $79,759,393▼16.0% | $61,102,268▼50.3% | $53,516,185▲46.1% | $86,951,138▼11.8% | 990 |
| 2023 | $94,901,712▲26.6% | $122,907,117▲30.8% | $36,619,778▼41.9% | $98,613,951▼9.2% | 990 |
| 2022 | $74,938,407▼27.6% | $93,959,932▲31.0% | $63,031,602▼25.6% | $108,620,526▼2.5% | 990 |
| 2021 | $103,548,873▲6.8% | $71,737,354▲2.1% | $84,665,102▲51.1% | $111,387,710▲29.5% | 990 |
| 2020 | $96,950,323▼26.4% | $70,257,159▼34.0% | $56,017,294▲87.4% | $86,020,616▲23.8% | 990 |
| 2019 | $131,643,917▲149952% | $106,418,865▲22821% | $29,890,698▲541% | $69,477,258▲1382% | 990 |
| 2018 | $87,732▲110% | $464,295▲5.6% | $4,665,646▼7.5% | $4,687,939▼8.1% | 990 |
| 2017 | $41,806▼91.0% | $439,607▲107% | $5,042,209▼7.3% | $5,099,362▼6.3% | 990 |
| 2016 | $462,947▲833% | $212,499▲23.9% | $5,440,010▲4.8% | $5,441,025▲4.8% | 990 |
| 2015 | $49,615▼99.5% | $171,537▼96.5% | $5,189,562▼2.3% | $5,193,531▼16.5% | 990 |
| 2014 | $9,123,557 | $4,958,729 | $5,311,484 | $6,219,913 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Ben Johnston | Treasurer (from 04/2024) | 2 | — |
| Bruce Nicholson | Director | 2 | — |
| Christopher Howard | Secretary/clerk | 2 | — |
| Dan Demeritt | Director | 2 | — |
| David Reagan | Treasurer (left 04/2024) | 2 | — |
| Dr David Howes | Director | 2 | — |
| Ellen Schneiter | Director | 2 | — |
| Eric Jermyn | Director | 2 | — |
| James Lyon | Director | 2 | — |
| Jolan F Ippolito | Chair | 2 | — |
| Kate Skouteris | Director (from 10/2024) | 2 | — |
| Kevin Lewis | Director | 2 | — |
| Scott Cremens | Director | 2 | — |
| Terry Brann | Director | 2 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| River 9 Consulting Inc | Administrative Services | $350,500 |
| Milliman | Actuarial Services | $218,802 |
| Pierce Atwood LLP | Legal Services | $135,700 |
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Compare Maine Guaranteed Access Reinsurance Association
Frequently asked questions
- Is Maine Guaranteed Access Reinsurance Association a legitimate nonprofit?
- Yes. Maine Guaranteed Access Reinsurance Association is a 501(c)(4) organization registered with the U.S. Internal Revenue Service under EIN 45-4331075, based in Portland, Maine.
- What is Maine Guaranteed Access Reinsurance Association's EIN?
- Maine Guaranteed Access Reinsurance Association's Employer Identification Number (EIN) is 45-4331075.
- How much revenue does Maine Guaranteed Access Reinsurance Association report?
- Maine Guaranteed Access Reinsurance Association reported $79,759,393 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Maine Guaranteed Access Reinsurance Association's spending goes to programs?
- Maine Guaranteed Access Reinsurance Association spends about 99% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Maine Guaranteed Access Reinsurance Association have?
- CharityIndex grades Maine Guaranteed Access Reinsurance Association A, based on program efficiency and fundraising cost.
- How much does Maine Guaranteed Access Reinsurance Association's highest-paid employee make?
- The highest reported compensation on Maine Guaranteed Access Reinsurance Association's latest Form 990 is $0, paid to Ben Johnston (Treasurer (from 04/2024)).
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Data for Maine Guaranteed Access Reinsurance Association (EIN 45-4331075) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.