Civic Intelligence

Maine Insurance Guaranty Association

EIN 23-7292624 • 501(c)6 • Boston, MA

Profile

Protect the policyholders & claimants of insolvent insurers in accordance with state statute, Chapter 24-A Section 4433 of the Maine Insurance Laws.

One Bowdoin Square Second FloorBoston, MA 02114-2916

www.gfms.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

5th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)6 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

6th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)6 • $25M-$50M nonprofits • Source year 2024

Net Margin

98th percentile

77%

Higher net margin than 98% of similar nonprofits.

501(c)6 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

6th percentile

$0

Higher top officer pay than 6% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)6 • $25M-$50M nonprofits • Source year 2024

Asset Growth

40th percentile

4.8%

Faster asset growth than 40% of similar nonprofits.

501(c)6 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

95th percentile

189%

Faster revenue growth than 95% of similar nonprofits.

501(c)6 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets5th percentile

Assets

Up

$30,848,271

Up $1,412,276 (+4.8%) from 2023

Liabilities

Flat

$0

Flat from 2023

Net Assets

Up

$30,848,271

Up $1,412,276 (+4.8%) from 2023

Operations
Liabilities / Revenue6th percentileNet Margin98th percentile

Revenue

Up

$1,833,855

Up $1,199,935 (+189%) from 2023

Expenses

Down

$421,579

Down $3,837,493 (-90%) from 2023

Net Income

Up

$1,412,276

Up $5,037,428 (+139%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth40th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$40M$30M$20M$10M$0Assets 2020: $34,699,877Liabilities 2020: $0Net Assets 2020: $34,699,8772020Assets 2021: $35,291,460Liabilities 2021: $0Net Assets 2021: $35,291,4602021Assets 2022: $33,061,147Liabilities 2022: $0Net Assets 2022: $33,061,1472022Assets 2023: $29,435,995Liabilities 2023: $0Net Assets 2023: $29,435,9952023Assets 2024: $30,848,271Liabilities 2024: $0Net Assets 2024: $30,848,2712024

Highlighted filing

2024

Assets$30,848,271
Liabilities$0
Net Assets$30,848,271
Open 2024 Filing

Operations Trend

Revenue Growth95th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0M-$4.0MRevenue 2020: $1,279,957Expenses 2020: $1,960,027Net Income 2020: -$680,0702020Revenue 2021: $3,682,476Expenses 2021: $3,090,893Net Income 2021: $591,5832021Revenue 2022: $511,048Expenses 2022: $2,741,361Net Income 2022: -$2,230,3132022Revenue 2023: $633,920Expenses 2023: $4,259,072Net Income 2023: -$3,625,1522023Revenue 2024: $1,833,855Expenses 2024: $421,579Net Income 2024: $1,412,2762024

Highlighted filing

2024

Revenue$1,833,855
Expenses$421,579
Net Income$1,412,276
Open 2024 Filing

Filings

Most recent year

2024 • Form 990XML pending. An XML filing is linked for this year, but detailed extraction is still pending.

Open filing
Assets
$30,848,271
Liabilities
$0
Net assets
$30,848,271
Revenue
$1,833,855
Expenses
$421,579
Net income
$1,412,276
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$30.8$0.00$30.8$1.83$0.42$1.41
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$29.4$0.00$29.4$0.63$4.26$3.63
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$33.1$0.00$33.1$0.51$2.74$2.23
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$35.3$0.00$35.3$3.68$3.09$0.59
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.7$0.00$34.7$1.28$1.96$0.68
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 9, 2023
Return Version
2022v5.0
Gross Receipts
$17,060,128
Mission and Program Overview

Mission

During the year the Association paid covered claims on behalf of insolvent insurers in accordance with the Maine state statute, Chapter 24-A Section 4433 of the Maine Insurance Laws.

During the year the Association provided protection to policyholders & claimants of insolvent insurers in accordance with the Maine state statute, Chapter 24-A Section 4433 of the Maine Insurance Laws.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$35,291,460$33,061,147▼ $2,230,313
Investments in Publicly Traded Securities$31,458,688$31,190,169▼ $268,519
Cash and Non-Interest-Bearing Accounts$3,832,772$1,870,978▼ $1,961,794
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$35,291,460$33,061,147▼ $2,230,313
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$35,291,460$33,061,147▼ $2,230,313
Total Liabilities and Net Assets / Fund Balance$35,291,460$33,061,147▼ $2,230,313
Compensation and Service Providers
Top Officer Pay6th percentile

Board Members and Trustees

NameTitle
Adam Robitaille Board Memberrepresenting Farmers P&C Insurance Co.
Doug Taylor Board Memberrepresenting Liberty Mutual Insurance Company
Dave McPherson Board Memberrepresenting MMG Insurance Company
Lincoln J Merrill Chairrepresenting Patriot Insurance Company
Mark Pettingill Vice Chairrepresenting Patrons Oxford Insurance Co.
David D Sutera Board Memberrepresenting Travelers Indemnity Company
William Cahill Board Memberrepresenting Vermont Mutual Insurance Co.

Highest Paid Contractors

ContractorServicesLocationCompensation
Tmesys LLCRx Drug ServicePO Box 850001 Dept 0559, Orlando, FL 32885-0559$109,814
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$529,567
Investment Income
$-18,519
Other Revenue
$0
Change in Net Assets
$-2,230,313

Audited Revenue Reconciliation

Revenue per Audited Statements
$473,740
Revenue Not Reported on Financial Statements
$37,308
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$37,308
Total Revenue per Audited Statements
$473,740
Total Revenue per Form 990
$511,048
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$475,503
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$2,265,858
Fees for Services Management---$388,258
Other Expenses---$44,870
Fees for Services Accounting---$13,056
All Other Expenses---$11,008
Insurance---$10,516
Fees for Services Legal---$5,070
Travel---$2,725
Total Functional Expenses$0$0$0$2,741,361

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,741,361
Expenses per Audited Statements$2,604,052
Total Expenses per Audited Statements$2,604,052
Expenses Not Reported on Financial Statements$137,309
Other Expense Adjustments$137,309
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
Yes
Subject to proxy tax
Yes
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“The Maine Insurance Guaranty Association's management duties are provided by Guaranty Fund Management Services, Inc. (GFMS), a 501(c)(6) organization to provide claims, administration, accounting, and management functions for eight Property & Casualty Insurance Guaranty Associations.”

Form 990, Part VI, Section A, Line 6

“The Maine Insurance Guaranty Association's members are licensed Property & Casualty Insurance Companies which write insurance covered under the Maine Insurance Guaranty Association Act.”

Form 990, Part VI, Section A, Line 7A

“The members of the governing body, the board of directors, are elected by the Insurance Companies that are members of the Maine Insurance Guaranty Association.”

Form 990, Part VI, Section A, Line 7B

“For changes to the "Plan of Operation."”

Form 990, Part VI, Section B, Line 11B

“The Accountant prepares the return. It is reviewed by the Treasurer & VP of Accounting and Finance and the Audit Committee. Outside Tax Professionals are consulted as needed.”

Form 990, Part VI, Section B, Line 12C

“Form is filled out on an annual basis. If a conflict is noted, it is reviewed by the Board of Directors and outside legal counsel as needed.”

Form 990, Part VI, Section B, Line 13

“As a member of Guaranty Fund Management Services, Inc., the Maine Insurance Guaranty Association is subject to GFMS' whistleblower policy.”

Form 990, Part VI, Section B, Line 14

“As a member of Guaranty Fund Management Services, Inc., the Maine Insurance Guaranty Association is subject to GFMS' document retention and destruction policy.”

Form 990, Part VI, Section B, Line 15

“The Maine Insurance Guaranty Association does not have employees. Claims, administration, accounting, and management functions are provided by GFMS under a contractual agreement.”

Form 990, Part VI, Section C, Line 19

“The annual report of the Maine Insurance Guaranty Association is mailed to all of its members and the Commissioner of Insurance. The Financial Statements and the Plan of Operation of the Maine Insurance Guaranty Association are on GFMS' website.”

Filing and Contact Details

Filer

Filer Name
Maine Insurance Guaranty Association
EIN
23-7292624
Phone
6142277020
Address
One Bowdoin Square Second Floor, Boston, MA 02114-2916

Signing Officer

Name
Heather Holland
Title
Treasurer
Phone
6176034775
Signed
2023-11-09

Organization Details

Principal Officer
Barbara Petersen Law
Formed
1970
Legal Domicile
Ma
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0
Supplemental Narrative

Financial Statement Notes

Schedule D, Part XI, Line 4B

“The Maine Insurance Guaranty Association has audited financial statements under the Modified-Cash Basis of accounting. The amount under other reflects the net adjustments to convert the financial statements from Modified-Cash Basis of accounting to the Cash Basis of accounting.”

Schedule D, Part XII, Line 4B

“The Maine Insurance Guaranty Association has audited financial statements under the Modified-Cash Basis of accounting. The amount under other reflects the net adjustments to convert the financial statements from Modified-Cash Basis of accounting to the Cash Basis of accounting.”

Raw XML AppendixShowing 400 of 479 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt00
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt00
IRS990/AccountsReceivableGrp/BOYAmt00
IRS990/AccountsReceivableGrp/EOYAmt00
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0During the year the Association provided protection to policyholders & claimants of insolvent insurers in accordance with the Maine state statute, Chapter 24-A Section 4433 of the Maine Insurance Laws.
IRS990/AdvertisingGrp/TotalAmt00
IRS990/AllOtherExpensesGrp/TotalAmt011008
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BenefitsToMembersGrp/TotalAmt02265858
IRS990/BooksInCareOfDetail/PersonNm0Heather Holland
IRS990/BooksInCareOfDetail/PhoneNum06172277020
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0One Bowdoin Square Second Floor
IRS990/BooksInCareOfDetail/USAddress/CityNm0Boston
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MA
IRS990/BooksInCareOfDetail/USAddress/ZIPCd0021142916
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CapStkTrPrinCurrentFundsGrp/BOYAmt00
IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt00
IRS990/CashNonInterestBearingGrp/BOYAmt03832772
IRS990/CashNonInterestBearingGrp/EOYAmt01870978
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt01
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt00
IRS990/CompDisqualPersonsGrp/TotalAmt00
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd00
IRS990/CompensationProcessOtherInd00
IRS990/ConferencesMeetingsGrp/TotalAmt00
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/ContractorCompensationGrp/CompensationAmt0109814
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt0PO Box 850001 Dept 0559
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm0Orlando
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd0FL
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd0328850559
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt0Tmesys LLC
IRS990/ContractorCompensationGrp/ServicesDesc0Rx Drug Service
IRS990/ContriRptFundraisingEventAmt00
IRS990/CostOfGoodsSoldAmt00
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt02265858
IRS990/CYContributionsGrantsAmt00
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt0-18519
IRS990/CYOtherExpensesAmt0475503
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt0529567
IRS990/CYRevenuesLessExpensesAmt0-2230313
IRS990/CYSalariesCompEmpBnftPaidAmt00
IRS990/CYTotalExpensesAmt02741361
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0511048
IRS990/DecisionsSubjectToApprovaInd01
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DeferredRevenueGrp/BOYAmt00
IRS990/DeferredRevenueGrp/EOYAmt00
IRS990/DelegationOfMgmtDutiesInd01
IRS990/DepreciationDepletionGrp/TotalAmt00
IRS990/Desc0During the year the Association provided protection to policyholders and claimants of insolvent insurers in accordance with the Maine state statute.
IRS990/DescribedInSection501c3Ind00
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IRS990/DonatedServicesAndUseFcltsAmt00
IRS990/DonorAdvisedFundInd00
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd01
IRS990/EmployeeCnt00
IRS990/EscrowAccountLiabilityGrp/BOYAmt00
IRS990/EscrowAccountLiabilityGrp/EOYAmt00
IRS990/ExpenseAmt02265858
IRS990/FamilyOrBusinessRlnInd00
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IRS990/FeesForServicesAccountingGrp/TotalAmt013056
IRS990/FeesForServicesLegalGrp/TotalAmt05070
IRS990/FeesForServicesLobbyingGrp/TotalAmt00
IRS990/FeesForServicesManagementGrp/TotalAmt0388258
IRS990/FeesForServicesOtherGrp/TotalAmt00
IRS990/FeesForServicesProfFundraising/TotalAmt00
IRS990/FeesForSrvcInvstMgmntFeesGrp/TotalAmt00
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignGrantsGrp/TotalAmt00
IRS990/ForeignOfficeInd00
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IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt41
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IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt61
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/PersonNm0Lincoln J Merrill Chair
IRS990/Form990PartVIISectionAGrp/PersonNm1Mark Pettingill Vice Chair
IRS990/Form990PartVIISectionAGrp/PersonNm2William Cahill Board Member
IRS990/Form990PartVIISectionAGrp/PersonNm3Dave McPherson Board Member
IRS990/Form990PartVIISectionAGrp/PersonNm4Adam Robitaille Board Member
IRS990/Form990PartVIISectionAGrp/PersonNm5David D Sutera Board Member
IRS990/Form990PartVIISectionAGrp/PersonNm6Doug Taylor Board Member
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/TitleTxt0representing Patriot Insurance Company
IRS990/Form990PartVIISectionAGrp/TitleTxt1representing Patrons Oxford Insurance Co.
IRS990/Form990PartVIISectionAGrp/TitleTxt2representing Vermont Mutual Insurance Co.
IRS990/Form990PartVIISectionAGrp/TitleTxt3representing MMG Insurance Company
IRS990/Form990PartVIISectionAGrp/TitleTxt4representing Farmers P&C Insurance Co.
IRS990/Form990PartVIISectionAGrp/TitleTxt5representing Travelers Indemnity Company
IRS990/Form990PartVIISectionAGrp/TitleTxt6representing Liberty Mutual Insurance Company
IRS990/Form990ProvidedToGvrnBodyInd01
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IRS990/GamingActivitiesInd00
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IRS990/GrantAmt00
IRS990/GrantsPayableGrp/BOYAmt00
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IRS990/GrantsToOrganizationsInd00
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IRS990/GrossRentsGrp/RealAmt00
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IRS990/IncmFromInvestBondProceedsGrp/TotalRevenueColumnAmt00
IRS990/IncmFromInvestBondProceedsGrp/UnrelatedBusinessRevenueAmt00
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IRS990/IndependentVotingMemberCnt07
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/TotalAmt00
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IRS990/IntangibleAssetsGrp/BOYAmt00
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IRS990/InterestGrp/TotalAmt00
IRS990/InventoriesForSaleOrUseGrp/BOYAmt00
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IRS990/InvestmentExpenseAmt00
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IRS990/InvestmentIncomeGrp/UnrelatedBusinessRevenueAmt00
IRS990/InvestmentInJointVentureInd00
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IRS990/InvestmentsProgramRelatedGrp/EOYAmt00
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IRS990/InvestmentsPubTradedSecGrp/EOYAmt031190169
IRS990/IRPDocumentCnt021
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0MA
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt00
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IRS990/LessRentalExpensesGrp/PersonalAmt00
IRS990/LessRentalExpensesGrp/RealAmt00
IRS990/LoanOutstandingInd00
IRS990/LoansFromOfficersDirectorsGrp/BOYAmt00
IRS990/LoansFromOfficersDirectorsGrp/EOYAmt00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd01
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0Protect the policyholders & claimants of insolvent insurers in accordance with state statute, Chapter 24-A Section 4433 of the Maine Insurance Laws.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt00
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt00
IRS990/NetAssetsOrFundBalancesBOYAmt035291460
IRS990/NetAssetsOrFundBalancesEOYAmt033061147
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt00
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0-400123
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-400123
IRS990/NetGainOrLossInvestmentsGrp/UnrelatedBusinessRevenueAmt00
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/UnrelatedBusinessRevenueAmt00
IRS990/NetIncomeFromGamingGrp/ExclusionAmt00
IRS990/NetIncomeFromGamingGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/UnrelatedBusinessRevenueAmt00
IRS990/NetIncomeOrLossGrp/ExclusionAmt00
IRS990/NetIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/UnrelatedBusinessRevenueAmt00
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt00
IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/UnrelatedBusinessRevenueAmt00
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/TotalAmt00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt00
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0NCIGF Fee
IRS990/OtherExpensesGrp/TotalAmt044870
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd00
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Barbara Petersen Law
IRS990/PriorPeriodAdjustmentsAmt00
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0524298
IRS990/ProgramServiceRevenueGrp/BusinessCd1524298
IRS990/ProgramServiceRevenueGrp/BusinessCd2524298
IRS990/ProgramServiceRevenueGrp/Desc0Member Assessment
IRS990/ProgramServiceRevenueGrp/Desc1Recovery
IRS990/ProgramServiceRevenueGrp/Desc2Member Assessment Administrative
IRS990/ProgramServiceRevenueGrp/ExclusionAmt00
IRS990/ProgramServiceRevenueGrp/ExclusionAmt10
IRS990/ProgramServiceRevenueGrp/ExclusionAmt20
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0351687
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1171877
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt26003
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0351687
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1171877
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt26003
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt10
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt20
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt02582895
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0393331
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0507998
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt03289145
IRS990/PYRevenuesLessExpensesAmt0591583
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt03090893
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03682476
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-2230313
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt00
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/ExclusionAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt035291460
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt033061147
IRS990/SavingsAndTempCashInvstGrp/BOYAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleC/AgreeCarryoverPriorYearInd00
IRS990ScheduleC/OnlyInHouseLobbyingInd01
IRS990ScheduleC/SubstantiallyAllDuesNondedInd00
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt00
IRS990ScheduleD/DonatedServicesUseFcltsAmt00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0137309
IRS990ScheduleD/ExpensesSubtotalAmt02604052
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt00
IRS990ScheduleD/InvestmentExpensesNotIncldAmt00
IRS990ScheduleD/LossesReportedAmt00
IRS990ScheduleD/NetUnrealizedGainsInvstAmt00
IRS990ScheduleD/OtherExpensesIncludedAmt00
IRS990ScheduleD/OtherExpensesNotIncludedAmt0137309
IRS990ScheduleD/OtherRevenueAmt00
IRS990ScheduleD/OtherRevenuesNotIncludedAmt037308
IRS990ScheduleD/PriorYearAdjustmentsAmt00
IRS990ScheduleD/RecoveriesPriorYearGrantsAmt00
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt037308
IRS990ScheduleD/RevenueSubtotalAmt0473740
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Maine Insurance Guaranty Association has audited financial statements under the Modified-Cash Basis of accounting. The amount under other reflects the net adjustments to convert the financial statements from Modified-Cash Basis of accounting to the Cash Basis of accounting.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1The Maine Insurance Guaranty Association has audited financial statements under the Modified-Cash Basis of accounting. The amount under other reflects the net adjustments to convert the financial statements from Modified-Cash Basis of accounting to the Cash Basis of accounting.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part XI, Line 4b
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule D, Part XII, Line 4b
IRS990ScheduleD/TotalExpensesPerForm990Amt02741361
IRS990ScheduleD/TotalRevenuePerForm990Amt0511048
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0473740
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02604052
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Maine Insurance Guaranty Association's management duties are provided by Guaranty Fund Management Services, Inc. (GFMS), a 501(c)(6) organization to provide claims, administration, accounting, and management functions for eight Property & Casualty Insurance Guaranty Associations.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Maine Insurance Guaranty Association's members are licensed Property & Casualty Insurance Companies which write insurance covered under the Maine Insurance Guaranty Association Act.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The members of the governing body, the board of directors, are elected by the Insurance Companies that are members of the Maine Insurance Guaranty Association.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3For changes to the "Plan of Operation."
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Accountant prepares the return. It is reviewed by the Treasurer & VP of Accounting and Finance and the Audit Committee. Outside Tax Professionals are consulted as needed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Form is filled out on an annual basis. If a conflict is noted, it is reviewed by the Board of Directors and outside legal counsel as needed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6As a member of Guaranty Fund Management Services, Inc., the Maine Insurance Guaranty Association is subject to GFMS' whistleblower policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7As a member of Guaranty Fund Management Services, Inc., the Maine Insurance Guaranty Association is subject to GFMS' document retention and destruction policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8The Maine Insurance Guaranty Association does not have employees. Claims, administration, accounting, and management functions are provided by GFMS under a contractual agreement.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9The annual report of the Maine Insurance Guaranty Association is mailed to all of its members and the Commissioner of Insurance. The Financial Statements and the Plan of Operation of the Maine Insurance Guaranty Association are on GFMS' website.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section A, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section A, Line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Section B, Line 13
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part VI, Section B, Line 14
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd01
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt00
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt00

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