Maine Life and Health Insurance Guaranty Association

Nonprofit profile at a glance

EIN
222656121
IRS 990 coverage
2020–2025
Forms available
Form 990 2025
Location
South China, ME, USA
Phone
2076331090
Rating
88
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,308,068
Expenses
$4,137,694
Assets
$1,983,463
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

11 people listed

People named in this filing

  • JANNA K REARICK (Chairman Unum Life)
  • BENJAMIN JOHNSTON (Treasurer Anthem)
  • SCOTT E SEBASTIAN (Director United Heal)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

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

What it reported doing in 2025

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.

Operating model

Revenue model
Earned-program. 95% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 94% of its reported program spending for member benefits.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 94
  • Sustainability: 27
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -216.3%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 0.48; rating input score 24; 24th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 88; 88th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: 61.7% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 42.1% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 29.3% per year; rating input score 100; 89th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 11 of 11 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $4.1M in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Highest-paid contractors: 1 contractor listed · $143K reported
  • Consistency: 19 of 19 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 6 filing years from 2020 to 2025
  • Contacts: How to reach this organization
  • 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 — Sustainability: Operating margin scored 0/100.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.
  • High — Sustainability: Total-asset coverage ratio scored 24/100.