Maine Life and Health Insurance Guaranty Association

EIN: 222656121

South China, ME

Total Revenue
$1,308,068
Total Expenses
$4,137,694
Total Assets
$1,983,463
Net Assets
$1,983,463
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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
1983
Legal Domicile
ME
Principal Officer
Donald W Sirois
Phone
2076331090
Tax Period
2025-01-01 to 2025-12-31

Maine Life and Health Insurance Guaranty Association, founded in 1983, is a community nonprofit that reported $1.3M in total revenue in fiscal year 2025. Revenue fell 67% from the prior year — a significant decline worth monitoring. Expenses of $4.1M exceeded revenue, resulting in a 216% operating deficit.

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

Program Service Accomplishments

Program 1
Expenses: $4,137,694 Revenue: $1,308,068

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...

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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.

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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 $1,239,112
Investment Income $68,084
Other Revenue $872
TOTAL REVENUE $1,308,068

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $4,137,694
Other Expenses $254,378
TOTAL EXPENSES $4,137,694

Year-over-Year Comparison

2025 2024 Change
Revenue $1,308,068 $3,986,846 -0.7%
Expenses $4,137,694 $553,992 +6.5%
Net Income $-2,829,626 $3,432,854 -1.8%
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

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Governance

Voting Members
11
Independent Members
11
Employees
N/A
Volunteers
N/A

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
0
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JANNA K REARICK Chairman Unum Life 2.00
$0 $0 $0
BENJAMIN JOHNSTON Treasurer Anthem 3.00
$0 $0 $0
SCOTT E SEBASTIAN Director United Heal 1.00
$0 $0 $0
THOMAS D CROHAN Vice Cha John Hancock 1.00
$0 $0 $0
CHRISTOPHER B ZIMMERMAN Director National L 1.00
$0 $0 $0
LINCOLN J MERRILL DirectorPatriot Insur 1.00
$0 $0 $0
CARRIE HARTGEN DirectorLincoln Finan 1.00
$0 $0 $0
GREGORY M REDMOND SecretaryProtective L 1.00
$0 $0 $0
DAVID A ROSE DirectorMetropolitan 1.00
$0 $0 $0
WILLIAM BOURASSA JR DirectorHarvard Pilgr 1.00
$0 $0 $0
ERIC DUPONT DirectorGuardian Life 1.00
$0 $0 $0
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 $1,308,068 $4,137,694 $1,983,463 $-2,829,626
2024 No data No data No data No data
2023 $721,962 $251,946 $1,380,235 $470,016
2022 $6,445 $235,446 $910,219 $-229,001
2021 $806,595 $248,743 $1,139,220 $557,852
2020 $3,554 $241,184 $581,368 $-237,630
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