MAINE ENERGY MARKETERS ASSOCIATION HEALTH INSURANCE TRUST (EIN 016029907) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1957

Legal Domicile

Phone

2077295298

Tax Period

2023-01-01 to 2023-12-31

MAINE ENERGY MARKETERS ASSOCIATION HEALTH INSURANCE TRUST, founded in 1957, is a community nonprofit that reported $3.3M in total revenue in fiscal year 2023. Revenue decreased 5% compared to the prior year. Expenses of $4.0M exceeded revenue, resulting in a 21% operating deficit.

Mission

TO PROVIDE HEALTH, LIFE, VISON, AND DENTAL BENEFITS TO ITS MEMBERS' EMPLOYEES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $3,295,105

Investment Income $48,059

Other Revenue $0

TOTAL REVENUE $3,343,164

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $600,939

TOTAL EXPENSES $4,031,225

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,343,164	$3,524,878	-0.1%
Expenses	$4,031,225	$3,279,687	+0.2%
Net Income	$-688,061	$245,191	-3.8%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

N/A

Employees

N/A

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$169,566

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TIM FREEMAN	CHAIR	0.50	Officer Director	$0	$0	$0
JOHN HOLMES	VICE CHAIR	0.50	Officer Director	$0	$0	$0
BRANDON PLOURDE	TRUSTEE	0.50	Director	$0	$0	$0
ED SNOOK	TRUSTEE THRU 8/1/23	0.50	Director	$0	$0	$0
DAVID MARCOTTE	TRUSTEE	0.50	Director	$0	$0	$0
BONNILEE V MACDONALD	TRUSTEE	0.50	Director	$0	$0	$0
CHARLES SUMMERS	TRUST ADMINISTRATOR	6.00	Officer	$0	$6,008	$169,566

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$3,343,164	$4,031,225	$1,982,498	$-688,061
2022	$3,524,878	$3,279,687	$2,462,540	$245,191
2021	$3,628,585	$3,444,520	$2,556,150	$184,065
2020	$4,009,412	$3,781,381	$2,455,984	$228,031
2019	$4,078,114	$4,109,391	$2,327,234	$-31,277
2018	$4,025,408	$3,576,994	$1,969,239	$448,414

MAINE ENERGY MARKETERS ASSOCIATION HEALTH INSURANCE TRUST