Maine Financial Institutions Employee Benefits Trust

EIN: 016133041 Mutual Benefit

Westbrook, ME

Total Revenue
$37,072,317
Total Expenses
$35,715,300
Total Assets
$12,983,519
Net Assets
$12,050,383
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2010
Legal Domicile
ME
Principal Officer
James Roche
Phone
2077918400
Tax Period
2025-01-01 to 2025-12-31

Maine Financial Institutions Employee Benefits Trust, founded in 2010, is a mid-sized nonprofit in the Mutual Benefit sector that reported $37.1M in total revenue in fiscal year 2025. Expenses of $35.7M left a modest 4% surplus.

Mission

The VEBA trust was formed for the purpose of funding and administering employee benefit plans established and maintained by members of the Maine Bankers Association for their respective 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%)

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Financial Overview (2025)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $36,717,461
Investment Income $354,856
Other Revenue $0
TOTAL REVENUE $37,072,317

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $35,715,300
TOTAL EXPENSES $35,715,300

Year-over-Year Comparison

2025 2024 Change
Revenue $37,072,317 $35,016,697 +0.1%
Expenses $35,715,300 $34,973,651 +0.0%
Net Income $1,357,017 $43,046 +30.5%
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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Governance

Voting Members
9
Independent Members
9
Employees
N/A
Volunteers
10

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
4
$866,071
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Timothy Thompson Chair 1.00
Officer Director
$0 $0 $0
Jeanne Hulit Trustee 1.00
Director
$0 $0 $0
Stephen deCastro Trustee 1.00
Director
$0 $0 $0
Robert Montgomery-Rice Trustee 1.00
Director
$0 $0 $0
Matt Nightingale Trustee 1.00
Director
$0 $0 $0
David Cohen Trustee 1.00
Director
$0 $0 $0
Lannie Moffatt Trustee 1.00
Director
$0 $0 $0
Glenn Hutchinson Trustee 1.00
Director
$0 $0 $0
Mark Jones Trustee 1.00
Director
$0 $0 $0
Blaine Boudreau Past Trustee 1.00
Director
$0 $0 $0
James J Roche President 0.47
Officer
$0 $23,320 $475,822
Marcia M Ferguson Chief Operating Officer 27.99
Officer
$0 $21,507 $232,262
Liza M Wells VP & Treasurer 11.61
Officer
$0 $18,023 $157,987
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
2025 $37,072,317 $35,715,300 $12,983,519 $1,357,017
2024 $35,016,697 $34,973,651 $12,000,177 $43,046
2023 $34,804,942 $37,255,454 $12,584,943 $-2,450,512
2022 $30,607,059 $31,450,649 $14,437,757 $-843,590
2021 $31,217,132 $29,318,033 $15,345,410 $1,899,099
2020 $29,142,977 $26,198,158 $13,742,668 $2,944,819
2019 $27,862,085 $28,713,268 $10,807,821 $-851,183
2018 $34,637,360 $34,343,811 $12,572,132 $293,549
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