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Main Insurance Agents Assoc

Not tax-deductible

Hallowell, ME501(c)(6)Mutual / membership EIN 01-0219810Revenue $1.1M in FY2025

On file with the IRSmaineagents.com17 Carriage Ln, 04347-3051 · Hallowell, METax-exempt since Nov 1955

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To represent, support, and promote independent Insurance Agents.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
Run by 15 volunteers and 4 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $57K a year · 6% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$161K
to officers and key staff · 15% of spending
Looks good: pay to officers and key staff is 15% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Plus $954K in investments, Pt X · Ln 11–13
Fine: 1.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $45K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$45K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.1M
+5% vs prior year
Spent
$1.1M
Net assets
$1.2M
By yearFY2021–FY2025
Revenue
$1.1M
FY2025▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2021$881K
FY2022$941K
FY2023$964K
FY2024$1.1M
FY2025$1.1M
Expenses
$1.1M
FY2025▲ +12%
Tap a bar for its year
Expenses by fiscal year
FY2021$873K
FY2022$883K
FY2023$951K
FY2024$962K
FY2025$1.1M
Net assets
$1.2M
FY2025▲ +8%
Tap a bar for its year
Net assets by fiscal year
FY2021$892K
FY2022$862K
FY2023$888K
FY2024$1.1M
FY2025$1.2M

From the FY2025 Form 990 (year ending August 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 1955.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

17 people listed on the 990; $161K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Lisa Veregge
President/CEO
$161,435Pt VII · Sec A
Harold Clark
Director
$0Pt VII · Sec A
Stacey Chenevert
Director (termed 12/2024)
$0Pt VII · Sec A
$0Pt VII · Sec A
Jim Chalmers
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Lisa Veregge$161,435$138,495$135,656$134,462$133,223

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Main Insurance Agents Assoc executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Advocates for and supports independent insurance agents.

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Provided by the organization

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3 programs · in their own filed words · FY2024
01

Legislation and regulations affecting insurance agents are monitored by the association and appropriate input on behalf of agents is given.

Pt IX · col B
02

Dues are paid to the national independent insurance agents of america which in turn supports independent agents at a national level.

Pt IX · col B
03

Educational meetings, conventions and seminars are provided for members.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Trusted Choice INCFY2024$45K
Total grants receivedfrom 1 funder$45K
Grants paid · 2 grants · $80K · 2020–2020
University of Southern Maine FoundationME · FY2020$40,000
Thomas CollegeME · FY2020$40,000

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.1M
Ln 12
Fees for servicesLn 2g$547K
Other incomeLn 4–11$398K
Investment incomeLn 3$204K
Money outPt IX
$1.1M
Ln 25
Owns and owesPt X
$1.2M
net assets · Ln 32
Cash and savingsLn 1–2$167K
Total assetsLn 16$1.2M
LiabilitiesLn 26$45K
PeoplePt VI, VII
17
listed · VII A
PaidVII A1
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$547K
Investment incomeLn 3$204K
Other incomeLn 4–11$398K
Gains on assetsLn 7$17K
Total revenueLn 12$1.1M
Assets in detailPt X, end of year
CashLn 1$165K
SavingsLn 2$2K
Cash and savings togetherLn 1–2$167K
InvestmentsLn 11–13$954K
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$30K
Total assetsLn 16$1.2M
LiabilitiesLn 26$45K
Net assetsLn 32$1.2M
OperationsPt I, VI
EmployeesI 54
VolunteersI 615
Fiscal year endsHeaderAugust
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$156K$167K
InvestmentsLn 11–13$899K$954K
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$1.2M$1.2M
LiabilitiesLn 26$54K$45K
Net assetsLn 32$1.1M$1.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$185K
Other salaries and wagesLn 7$301K
Other employee benefitsLn 9$53K
Payroll taxesLn 10$36K
Accounting feesLn 11c$12K
Investment management feesLn 11f$6K
Advertising and promotionLn 12$102K
Office expensesLn 13$4K
OccupancyLn 16$42K
TravelLn 17$29K
Conferences, conventions and meetingsLn 19$145K
InsuranceLn 23$3K
Other expenses (24a–d)Ln 24$128K
All other expensesLn 24e$31K
Total functional expensesLn 25$1.1M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $1.1M$1.1M$73K$1.2M 990 PDF
FY2024 $1.1M$962K$132K$1.1M 990 PDF
FY2023 $964K$951K$13K$888K 990 PDF
FY2022 $941K$883K$58K$862K 990 PDF
FY2021 $881K$873K$8K$892K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $1,149,516 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $537,153$547,105
I-10 Investment incomePrior year $187,419$204,445
I-11 Other revenuePrior year $369,096$397,966
I-12 Total revenuePrior year $1,093,668$1,149,516
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $489,425$574,569
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $472,472$502,369
I-18 Total expensesPrior year $961,897$1,076,938
I-19 Revenue less expensesPrior year $131,771$72,578
Part VI · Governance 14 of 14 board members independent, no flags
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,149,516 across 5 lines filed
Lines not itemized here account for $10,352 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $547,105$547,105
VIII-3 Investment incomeExcluded from tax $187,535$187,535
VIII-7 Net gain or loss on sales of assetsExcluded from tax $16,910$16,910
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $342,368 · Unrelated business $45,246$387,614
VIII-12 Total revenueRelated to mission $893,020 · Unrelated business $52,051 · Excluded from tax $204,445$1,149,516
Part IX · Statement of functional expenses $1,076,938 across 14 lines filed
IX-5 Pay of current officers, directors and key staff$184,855
IX-7 Other salaries and wages$300,697
IX-9 Other employee benefits$53,150
IX-10 Payroll taxes$35,867
IX-11c Accounting fees$12,500
IX-11f Investment management fees$6,371
IX-12 Advertising and promotion$101,726
IX-13 Office expenses$3,787
IX-16 Occupancy$42,000
IX-17 Travel$29,168
IX-19 Conferences, conventions and meetings$144,543
IX-23 Insurance$3,472
IX-24 Other expenses (24a–d)$127,749
IX-24e All other expenses$31,053
IX-25 Total functional expenses$1,076,938
Part X · Balance sheet $1,234,591 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $150,526$165,095
X-2 Savings and temporary cash investmentsStart of year $5,895$1,722
X-4 Accounts receivableStart of year $51,810$75,314
X-9 Prepaid expenses and deferred chargesStart of year $20,264$8,354
X-10c Land, buildings and equipment, netStart of year $0$0
X-11 Publicly traded securitiesStart of year $679,606$734,964
X-12 Other securitiesStart of year $219,142$219,142
X-15 Other assetsStart of year $30,000$30,000
X-16 Total assetsStart of year $1,157,243$1,234,591
X-17 Accounts payable and accrued expensesStart of year $18,408$25,773
X-19 Deferred revenueStart of year $15,192$9,410
X-25 Other liabilitiesStart of year $20,000$10,000
X-26 Total liabilitiesStart of year $53,600$45,183
X-27 Net assets without donor restrictionsStart of year $1,103,643$1,189,408
X-32 Total net assets or fund balancesStart of year $1,103,643$1,189,408
X-33 Total liabilities and net assetsStart of year $1,157,243$1,234,591
Part XI · Reconciliation of net assets $1,189,408 net assets at year end
XI-1 Total revenue$1,149,516
XI-2 Total expenses$1,076,938
XI-3 Revenue less expenses$72,578
XI-4 Net assets at start of year$1,103,643
XI-5 Net unrealized gains (losses) on investments$13,187
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,189,408

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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