Civic Intelligence

Maine Workers Compensation Policyholder Trust

EIN 47-7212082 • 501(c)4 • Augusta, ME

Profile

To use the funds in the Trust on matters pertaining to workers' compensation in Maine in a manner that benefits those Maine employees that purchased workers' compensation insurance between September 1995 and November 2001.

45 Melville St 1Augusta, ME 04330

n/a

Siviq Scores

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

Liabilities / Assets

19th percentile

0.00x

Higher debt load relative to assets than 19% of similar nonprofits.

501(c)4 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

24th percentile

0.01x

Higher debt load relative to revenue than 24% of similar nonprofits.

501(c)4 • $10M-$25M nonprofits • Source year 2022

Net Margin

89th percentile

67%

Higher net margin than 89% of similar nonprofits.

501(c)4 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

10th percentile

-12%

Faster asset growth than 10% of similar nonprofits.

501(c)4 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

6th percentile

-49%

Faster revenue growth than 6% of similar nonprofits.

501(c)4 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Assets

Down

$12,978,623

Down $1,733,673 (-12%) from 2021

Liabilities

Up

$3,939

Up $456 (+13%) from 2021

Net Assets

Down

$12,974,684

Down $1,734,129 (-12%) from 2021

Revenue

Down

$326,317

Down $309,233 (-49%) from 2021

Expenses

Down

$108,939

Down $12,873 (-11%) from 2021

Net Income

Down

$217,378

Down $296,360 (-58%) from 2021

Trend Graphs

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2018: $9,725,606Liabilities 2018: $3,186Net Assets 2018: $9,722,4202018Assets 2019: $13,270,827Liabilities 2019: $3,878Net Assets 2019: $13,266,9492019Assets 2020: $14,175,857Liabilities 2020: $58Net Assets 2020: $14,175,7992020Assets 2021: $14,712,296Liabilities 2021: $3,483Net Assets 2021: $14,708,8132021Assets 2022: $12,978,623Liabilities 2022: $3,939Net Assets 2022: $12,974,6842022

Highlighted filing

2022

Assets$12,978,623
Liabilities$3,939
Net Assets$12,974,684

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0Revenue 2018: $3,100,117Expenses 2018: $210,358Net Income 2018: $2,889,7592018Revenue 2019: $3,121,769Expenses 2019: $145,446Net Income 2019: $2,976,3232019Revenue 2020: $384,801Expenses 2020: $222,568Net Income 2020: $162,2332020Revenue 2021: $635,550Expenses 2021: $121,812Net Income 2021: $513,7382021Revenue 2022: $326,317Expenses 2022: $108,939Net Income 2022: $217,3782022

Highlighted filing

2022

Revenue$326,317
Expenses$108,939
Net Income$217,378

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 9, 2023
Return Version
2022v5.0
Gross Receipts
$1,001,786
Mission and Program Overview

Mission

To use the funds in the Trust on matters pertaining to workers' compensation in Maine in a manner that benefits those Maine employees that purchased workers' compensation insurance between September 1995 and November 2001.

To utilize funds to assist Maine employers and organizations with activities that will help build a stronger, safer, healthier, and more successful future workforce and economy within the State of Maine.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$14,708,813$12,974,684▼ $1,734,129
Investments in Publicly Traded Securities$14,117,947$12,616,340▼ $1,501,607
Savings and Temporary Cash Investments$593,258$353,867▼ $239,391
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Land, Buildings, and Equipment, Net$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$14,712,296$12,978,623▼ $1,733,673
Other Assets Total$1,091$8,416▲ $7,325
Liabilities
Accounts Payable and Accrued Expenses$3,483$3,939▲ $456
Other Liabilities$0$0→ $0
Total Liabilities$3,483$3,939▲ $456
Net Assets / Fund Balance
Total Net Assets Fund Balance$14,708,813$12,974,684▼ $1,734,129
Total Liabilities and Net Assets / Fund Balance$14,712,296$12,978,623▼ $1,733,673
Compensation and Service Providers

Board Members and Trustees

NameTitle
-Trustee
-Administrator
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$326,317
Other Revenue
$0
Change in Net Assets
$217,378
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$71,439
Grants and Similar Amounts Paid$37,500
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Service Investment Mgmnt Fees-$43,729-$43,729
Grants to Domestic Orgs$37,500--$37,500
Fees for Services Other$0$11,625$0$11,625
Fees for Services Legal-$10,586-$10,586
Fees for Services Accounting-$5,125-$5,125
Conferences and Meetings-$339-$339
Other Expenses$35--$35
Total Functional Expenses$37,535$71,404$0$108,939
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Maine Business Education PartnershipAugusta, ME501(c)(3)Workforce Research Project$37,500
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
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
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 13 WRITTEN WHISTLEBLOWER POLICY

Due to the organization's size, management does not believe that it is necessary to have a written whistleblower policy.

Form 990, Part VI, Line 15 PROCESS FOR DETERMINING COMPENSATION

At this time the organization does not compensate any individuals, therefore questions 15a and 15b have been intentionally answered 'no'.

Form 990, Part VI, Line 14 DOCUMENT RETENTION AND DESTRUCTION POLICY

Due to the organization's size, management does not believe that it is necessary to have a document retention and destruction policy in place.

Form 990, Part VI, Line 3 Delegation of management duties

The organization has a management services agreement with Maine Workers' Compensation Residual Market Pool for management and administrative services. The administrator of the organization, John Lambert, is an employee of, and is compensated by, Maine Workers' Compensation Residual Market Pool.

Form 990, Part VI, Line 8B Documentation of meetings held by committees of governing body

There are no committees with authority to act on behalf of the governing body.

Form 990, Part VI, Line 11B Review of form 990 by governing body

The Board of Directors receives a complete copy of the Form 990 for their review prior to filing.

Form 990, Part VI, Line 19 Required documents available to the public

The organization makes its governing documents available for public inspection upon request.

Filing and Contact Details

Filer

Filer Name
Maine Workers Compensation Policyholder Trust
EIN
47-7212082
Phone
2076231149
Address
45 Melville St 1, Augusta, ME 04330

Signing Officer

Name
Peter Gore
Title
Trustee
Signed
2023-11-09
Discuss with paid preparer
Yes

Organization Details

Formed
2015
Legal Domicile
Me
Voting Board Members
3
Independent Board Members
2
Employees
0
Volunteers
3

Preparer

Firm
Crowe Llp
Address
9600 Brownsboro Road Suite 400, Louisville, KY 40241-3902
Preparer
Rachel Spurlock
Phone
5023263996
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G Other Fees

Other professional services - Total Expense: 11625, Program Service Expense: , Management and General Expenses: 11625, Fundraising Expenses: ;

Raw XML Appendix328 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.

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IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0Mari O'Neil
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
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IRS990/Form990PartVIISectionAGrp/TitleTxt2Trustee
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IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/FormationYr02015
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IRS990/GainOrLossGrp/OtherAmt00
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IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0true
IRS990/GrantToRelatedPersonInd0false
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IRS990/IndoorTanningServicesInd0false
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IRS990/InvestmentIncomeGrp/ExclusionAmt0282902
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0282902
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt00
IRS990/InvestmentsProgramRelatedGrp/BOYAmt00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt014117947
IRS990/InvestmentsPubTradedSecGrp/EOYAmt012616340
IRS990/IRPDocumentCnt00
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IRS990/LandBldgEquipAccumDeprecAmt00
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IRS990/LandBldgEquipBasisNetGrp/EOYAmt00
IRS990/LandBldgEquipCostOrOtherBssAmt00
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IRS990/LoanOutstandingInd0false
IRS990/LoansFromOfficersDirectorsGrp/BOYAmt00
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IRS990/LocalChaptersInd0false
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0Trustees of the organization are employees of the organizations to which grants were awarded and have oversight to monitor the use of the funds for their intended purpose. The organization receives reports from the grantee organizations detailing the use of the funds.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DUE TO THE ORGANIZATION'S SIZE, MANAGEMENT DOES NOT BELIEVE THAT IT IS NECESSARY TO HAVE A WRITTEN WHISTLEBLOWER POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AT THIS TIME THE ORGANIZATION DOES NOT COMPENSATE ANY INDIVIDUALS, THEREFORE QUESTIONS 15A AND 15B HAVE BEEN INTENTIONALLY ANSWERED 'NO'.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DUE TO THE ORGANIZATION'S SIZE, MANAGEMENT DOES NOT BELIEVE THAT IT IS NECESSARY TO HAVE A DOCUMENT RETENTION AND DESTRUCTION POLICY IN PLACE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The organization has a management services agreement with Maine Workers' Compensation Residual Market Pool for management and administrative services. The administrator of the organization, John Lambert, is an employee of, and is compensated by, Maine Workers' Compensation Residual Market Pool.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4There are no committees with authority to act on behalf of the governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The Board of Directors receives a complete copy of the Form 990 for their review prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Other professional services - Total Expense: 11625, Program Service Expense: , Management and General Expenses: 11625, Fundraising Expenses: ;
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 13 WRITTEN WHISTLEBLOWER POLICY
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 15 PROCESS FOR DETERMINING COMPENSATION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 14 DOCUMENT RETENTION AND DESTRUCTION POLICY
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 3 Delegation of management duties
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 8b Documentation of meetings held by committees of governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 11b Review of form 990 by governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 19 Required documents available to the public
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part IX, Line 11g Other Fees
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IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt00
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt037535
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0326317
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0326317
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt03
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt014712296
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt012978623
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt045 Melville St 1
IRS990/USAddress/CityNm0Augusta
IRS990/USAddress/StateAbbreviationCd0ME
IRS990/USAddress/ZIPCd004330
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0n/a
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Peter Gore
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Trustee
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Maine Workers Compensation Policyholder Trust
ReturnHeader/Filer/BusinessNameControlTxt0MAIN
ReturnHeader/Filer/EIN0477212082
ReturnHeader/Filer/PhoneNum02076231149
ReturnHeader/Filer/USAddress/AddressLine1Txt045 Melville St 1
ReturnHeader/Filer/USAddress/CityNm0Augusta
ReturnHeader/Filer/USAddress/StateAbbreviationCd0ME
ReturnHeader/Filer/USAddress/ZIPCd004330
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0350921680
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CROWE LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt09600 Brownsboro Road Suite 400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Louisville
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0402413902
ReturnHeader/PreparerPersonGrp/PhoneNum05023263996
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Rachel Spurlock
ReturnHeader/ReturnTs02023-11-09T10:49:53+00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Peter
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Gore
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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