Maine Guaranteed Access Reinsurance Association
Portland, ME 04101 · IRS data through FY2024
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2024 | $79,759,393 | $61,102,268 | $53,516,185 |
| FY2023 | $94,901,712 | $122,907,117 | $36,619,778 |
| FY2022 | $74,938,407 | $93,959,932 | $63,031,602 |
| FY2021 | $103,548,873 | $71,737,354 | $84,665,102 |
| FY2020 | $96,950,323 | $70,257,159 | $56,017,294 |
| FY2019 | $131,643,917 | $106,418,865 | $29,890,698 |
| FY2018 | $87,732 | $464,295 | $4,665,646 |
| FY2017 | $41,806 | $439,607 | $5,042,209 |
| FY2016 | $462,947 | $212,499 | $5,440,010 |
| FY2015 | $49,615 | $171,537 | $5,189,562 |
| FY2014 | $9,123,557 | $4,958,729 | $5,311,484 |
Form 990 filings
The returns filed by Maine Guaranteed Access Reinsurance Association (EIN 45-4331075), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $45,726,151 | 57% |
| Program service revenue | $29,141,368 | 37% |
| Other revenue | $4,891,874 | 6% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $60,283,091 | 99% |
| Management & general | $819,177 | 1% |
| Fundraising | $0 | 0% |
What the numbers show
- Contributions & grants made up 57% of total revenue in FY2024.
- Program services accounted for 99% of functional expenses, management & general 1%, and fundraising 0%.
- 99% of functional expenses went to program services in FY2024. That is the highest share among 50 Health Care organizations in ME.
- Net assets covered about 10.5 months of expenses at the end of the reporting year. That puts it in the 58th percentile among 189 Health Care organizations in ME.
- Total revenue was higher than 91.6% of 191 Health Care organizations in ME.
- Total revenue rose from $9,123,557 in FY2014 to $79,759,393 in FY2024. Revenue increased in 5 and decreased in 5 of 10 year-over-year comparisons.
- Expenses exceeded revenue in 5 of 11 reported years (FY2015, FY2017, FY2018, FY2022, FY2023).
- The highest revenue on record here is $131,643,917 in FY2019.
- Net assets grew from $5,311,484 to $53,516,185 between FY2014 and FY2024.
- Contributions and grants made up 0% of revenue in FY2014 and 57% in FY2024.
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
A reinsurance program for the high risk segment of Maine's individual health insurance market.
IRS status
| Ruling year | 2015 |
| Subsection | 501(c)(4) |
| Program area (NTEE) | E800 — Health Care (in ME) |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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