Overview
What is Maine Financial Institutions Employee Benefits Trust?
The Maine Financial Institutions Employee Benefits Trust is a nonprofit organization that manages and funds employee benefit plans for various financial institutions in Maine. Established by members of the Maine Bankers Association, this trust offers a comprehensive range of coverage options for their employees. These benefits include health, life, accidental death and dismemberment, hospital, surgical, prescription drug, dental, vision, accident expenses, basic and major medical, long-term and short-term disability coverage, and wellness programs. The trust's mission is to ensure the provision of these benefits for the employees of participating Maine financial institutions.
What are the reviews and ratings of this charity?
The Maine Financial Institutions Employee Benefits Trust is not currently rated by Charity Navigator. The absence of a rating is not indicative of the organization's performance but rather reflects that it has not been evaluated. Charity Navigator typically requires specific criteria to assess nonprofits, including factors such as Accountability & Finance or Impact & Measurement, which are unavailable in this case.
This organization is recognized as an independent entity, but it does not hold a 501(c)(3) status, which affects its eligibility for a Charity Navigator rating. As such, it is classified outside the typical nonprofit framework that allows for evaluations focused on financial transparency and accountability. Consequently, data such as total revenue, expenses, and key personnel salaries are not available.
Without information on functionality, culture, or measurable impact, potential donors or stakeholders may need to rely on other sources or direct communication with the organization for detailed insights into its operations and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Maine Financial Institutions Employee Benefits Trust legitimate?
Maine Financial Institutions Employee Benefits Trust is a legitimate nonprofit organization registered as a 501(c)(9) entity. Maine Financial Institutions Employee Benefits Trust submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Maine Financial Institutions Employee Benefits Trust?
The Maine Financial Institutions Employee Benefits Trust was established to manage and fund employee benefit plans for members of the Maine Bankers Association. This non-profit trust is dedicated to providing various types of coverage, including health, life, disability, and wellness programs, to the employees of participating financial institutions. By offering these comprehensive benefits, the trust aims to support and enhance the well-being of the employees, ultimately contributing to the overall success of the member institutions. In essence, the Maine Financial Institutions Employee Benefits Trust serves as a vital resource for its members, enabling them to provide valuable benefits to their employees and fostering a healthy and productive workforce.
Who is the CEO of Maine Financial Institutions Employee Benefits Trust?
James Roche is the Principal Officer of Maine Financial Institutions Employee Benefits Trust.
What is the revenue of Maine Financial Institutions Employee Benefits Trust?
Maine Financial Institutions Employee Benefits Trust's revenue in 2022 was $30,607,059.
Who are the executives of Maine Financial Institutions Employee Benefits Trust and what are their salaries?
There 7 volunteers at Maine Financial Institutions Employee Benefits Trust.
Here are 10 key members and their salaries:
- Compensation: $0
- Related: $350,585
- Other: $31,562
- Compensation: $0
- Related: $180,464
- Other: $37,384
- Compensation: $0
- Related: $179,824
- Other: $21,752
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Maine Financial Institutions Employee Benefits Trust?
Maine Financial Institutions Employee Benefits Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Maine Financial Institutions Employee Benefits Trust
Maine Financial Institutions Employee Benefits Trust, also known as MFIEBT, is a vital organization dedicated to managing and funding employee benefit plans on behalf of Maine-based financial institutions. These plans are created and maintained by the members of the Maine Bankers Association for their staff.
The mission of MFIEBT is centered around providing comprehensive employee benefit solutions for the financial sector. Through this trust, various benefits including health, life, accidental death and dismemberment, hospital, surgical, prescription drug, dental, vision, accident expenses, basic and major medical, long- and short-term disability coverage, and sponsorship of participation-based wellness programs, are offered to employees of participating Maine Bankers Association members.
MFIEBT serves as a crucial partner for these financial institutions, ensuring their employees have access to essential benefits and programs, ultimately contributing to the overall well-being and satisfaction of their workforce. By streamlining the process of managing and administering these plans, MFIEBT enables its members to focus on their core business operations while providing their employees with valuable benefits and resources.
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Impact
October, 2024
The Maine Financial Institutions Employee Benefits Trust plays a significant role in enhancing employee wellbeing for workers within Maine's banking sector. By funding and administering comprehensive employee benefit plans established by the Maine Bankers Association, it provides essential services that include health insurance, life and accidental death coverage, and long-term and short-term disability insurance.
This trust not only ensures that employees have access to vital health services and financial protection but also promotes wellness through participation-based programs. By offering a range of benefits, it helps financial institutions in Maine attract and retain talent, fostering a healthier and more productive workforce. Overall, the impact of the Maine Financial Institutions Employee Benefits Trust extends beyond individual employees, contributing positively to the overall economic stability and community wellbeing in the state.
This information is meant to be a general summary of Maine Financial Institutions Employee Benefits Trust. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $119,891
- Program Service Revenue: $30,487,168
- Gross Receipts: $30,607,059
Assets and Liabilities:
- Total Assets: $14,437,757
- Total Liabilities: $1,336,925
- Net Assets: $13,100,832
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Premiums Collected
Revenue
$29,676,260
Administrative Income
Revenue
$810,908
Organization Details
Founding Year
2010
Phone
(207) 791-8400Principal Officer
James Roche
Main Address
2 Thomas Drive, Westbrook, ME, 04092
NTEE Category
Code: Y43 - Mutual benefit
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