Maine Association of Retirees Inc
Nonprofit profile at a glance
- EIN
- 010370896
- IRS 990 coverage
- 2014–2024
- Forms available
- Form 990 2024
- Location
- Augusta, ME, USA
- Phone
- 2075821960
- Rating
- 46
- Verdict
- MIXED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $559,275
- Expenses
- $485,329
- Assets
- $1,034,426
- Liabilities
- $1,310
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
10 people listed
Executive titles in this filing
- WILLIAM LAUBENSTEIN (PRESIDENT)
Highest reported compensation
- DIANE BAILEY (EXECUTIVE DI): $53,709 total reported compensation
- PATRICIA CASTONGUAY (TREASURER): $27,641 total reported compensation
- DAWN KLIPHAN (SECRETARY): $250 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The associations's primary purpose is to protect and expand the rights and benefits of Maine's retired teachers, and state, county and municipal government employees who receive a pension through Maine public employees retirement system (Maine pers), and to support a fiscally sound retirement system. To fulfill the association's mission with a variety of communication channels including newsletters, website, committee, regional and annual meetings, and to advance for the membership's retiree pension plan and its benefits through testimony at state legislative hearings, communication with congressional delegation, information sharing with the governor, public communications, and participation in relevant associations, coalitions, and meetings.
What it reported doing in 2024
Advocates for state and federal legislation that benefits Maine's retirees receiving pensions thorugh Maine pers using in house staff and professional lobbyists. Mar testifies at hearings, and provides information to our membership, legislators, the governor, regulatory agencies, and the public on issues affecting retiree benefit.
Operating model
- Revenue model
- Membership-supported. 71% of the money available for current operations came from membership dues.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 80
- Accountability: 80
- Sustainability: 62
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 88.9%; rating input score 89; 4th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 88.9%; rating input score 89; 22nd percentile among comparable filings
- Governance controls: 6 of 9 controls in place; rating input score 67
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 13.2%; rating input score 67; 67th percentile among comparable filings
- Total-asset coverage ratio: 2.13; rating input score 66; 66th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 79; 79th percentile among comparable filings
- Officer compensation ratio: 17.1%; rating input score 19; 19th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 3.6% per year; rating input score 100; 34th percentile among comparable filings
- Asset growth: 6.3% per year; rating input score 100; 45th percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 8 of 9 board members independent · 6 of 9 filing controls reported
- Programs: 4 filed program accomplishments
- Leadership: top reported pay $54K · 10 people listed
- Consistency: 11 of 12 current checks pass · 1 finding to review
- Schedules: 3 filed schedules
- Filing history: 11 filing years from 2014 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- Review — Accountability: Governance controls: 2 of 8 not reported.
- High — Sustainability: Officer compensation ratio scored 19/100.