2024-10-24T11:30:33-05:00 2023-12-31 010523282 Berry Dunn McNeil & Parker LLC 2211 Congress St Portland ME 04102 990 2023-01-01 016133041 Maine Financial Institutions Employee Benefits Trust MAIN 2077918400 2 Thomas Drive Westbrook ME 04092 Liza M Wells Vice President & Treasurer 2077918400 2024-10-22 1 1 Joseph R Byrne P01289281 2077752387 2024-10-22 2023 2024-10-15 13:58:12Z James Roche 2 Thomas Drive Westbrook ME 04092 34804942 0 X N/A X 2010 ME 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. 7 7 0 8 0 0 0 0 30487168 34465029 119891 339913 0 0 30607059 34804942 0 0 0 0 0 0 0 0 0 31450649 37255454 31450649 37255454 -843590 -2450512 14437757 12584943 1336925 1934623 13100832 10650320 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. 0 0 The Maine Financial Institutions Employee Benefits Trust funds and administers the Maine Bankers Association Employee Benefit Plan (the Plan) established and maintained by certain Maine financial institutions for their respective employees.The Plan offers 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 sponsors participation based wellness programs for participating members of Maine Bankers Association. 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 2 0 1 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 1 1 0 X Liza M Wells 2077918400 2 Thomas Drive Westbrook ME 04092 Timothy Thompson Chair 1.00 1.00 X X 0 0 0 Jeanne Hulit Trustee 1.00 1.00 X 0 0 0 Stephen deCastro Trustee 1.00 1.00 X 0 0 0 Blaine Boudreau Trustee 1.00 1.00 X 0 0 0 Robert Montgomery-Rice Trustee 1.00 1.00 X 0 0 0 William Tracy Past Trustee 1.00 1.00 X 0 0 0 Matt Nightingale Trustee 1.00 0.00 X 0 0 0 David Cohen Trustee 1.00 0.00 X 0 0 0 James J Roche President 0.47 37.03 X 0 432861 33231 Marcia M Ferguson Chief Operating Officer 32.35 5.15 X 0 198320 39867 Marc P Owen SVP & Treasurer 12.19 25.31 X 0 196241 21176 0 827422 94274 0 0 1 0 Maine Bankers Association 2 Thomas Drive Westbrook ME 04092 Mgmt. Administrative 808242 Wellness Workdays 21 Fottler Road Suite 101 Hingham MA 02043 Wellness Program Admin. 505607 2 Premiums Collected 525100 34397016 34397016 Administrative Income 561000 68013 68013 34465029 339913 339913 34804942 34465029 0 339913 24480 67638 19771 2697 21056 Insurance Premiums for 35437525 Administrative Expense 945413 Wellness Program 720224 Miscellaneous Expenses 16650 37255454 168675 160293 13804543 12149686 199688 18167 264851 256797 14437757 12584943 1233732 1845810 103193 88813 1336925 1934623 X 13100832 10650320 13100832 10650320 14437757 12584943 -2450512 0 X 0 1 X 1 0 0 Premiums in Suspense 88382 Advance from Carrier 431 88813 X 34804942 0 34804942 0 34804942 36649565 0 36649565 605889 605889 37255454 Part X, Line 2: Management has determined that the Plan has no uncertain tax positions that require adjustment to the financial statements. The Plan is currently open to examination under the statute of limitations by the Internal Revenue Service for the years ended December 31, 2020 through 2023. Part XII, Line 4b - Other Adjustments: Change in Amounts Payable to Insurance Companies 605,889. 0 0 0 James J Roche President 0 330656 0 85000 0 17205 0 19416 0 13815 0 466092 0 0 Marcia M Ferguson Chief Operating Officer 0 167820 0 30000 0 500 0 10460 0 29407 0 238187 0 0 Marc P Owen SVP & Treasurer 0 167922 0 28000 0 319 0 9887 0 11289 0 217417 0 0 Part I, Line 3 Maine Bankers Association, a related organization, establishes the compensation for the Organization's President. Maine Bankers Association uses a variety of resources to establish compensation as follows: 1. Compensation Committee 2. Compensation survey/study 3. Approval by the board/compensation committee Form 990, Part VI, Section B, line 11b The Form 990 is always reviewed first by the Vice President & Treasurer and Chief Operating Officer, and then by the Organization's President to ensure the accuracy of the data and the accuracy of the information disclosed, before the return is signed. The VP/Treasurer ties the financial numbers to the internally prepared management reports and reviews the information disclosed for any changes in internal policy or position from the prior year's return. Form 990, Part VI, Section B, line 15 The Organization has no employees, and does not pay compensation to its officers and directors. The Organization's officers are compensated by the Maine Bankers Association, a related organization. Compensation is reviewed and approved by members of the governing body of Maine Bankers Association. Form 990, Part VI, Section C, line 19 The Organization makes its governing documents and financial statements available to the public upon request. Maine Bankers Association 2 Thomas Drive Westbrook ME 04092 010155360 Trade Association ME 501(c)(6) 0 Aroostook County Federal Savings & Loan Auburn Savings Bank FSB Bangor Savings Bank Bar Harbor Bankshares Bar Harbor Savings & Loan Bath Savings Institution Bigelow Investment Advisors First Federal Savings & Loan Association of Bath First National Bank Franklin Savings Bank Gorham Savings Bank Katahdin Trust Company Maine Community Bank Partners Bank Portland Trust Company Rockland Savings & Loan Association Saco & Biddeford Savings Institution Skowhegan Savings Bank Spinnaker Trust Association Services Inc 2 Thomas Drive Westbrook ME 04092 010507289 Administration Services ME N/A C 0 Community Banks Insurance Agency 2 Thomas Drive Westbrook ME 04092 010517638 Insurance Services ME N/A C 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0