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.
Executive compensation
Form 990 · Part VII & Schedule J · 4 reported individuals · Filing year 2024
Percentile bands compare each position's total pay with the same role at Mutual & Membership Benefit organizations nationwide.
| Position | Total |
|---|---|
Chief Operating Officer 10th to 25th percentilevs all sectors nationwide | $41k $44k |
VP & Treasurer Vice President 75th to 90th percentile | $35k $38k |
President 25th percentile to median | $35k $37k |
Past SVP & Treasurer Senior Vice President Below 10th percentilevs all sectors nationwide | $11k $12k |
Teal figures restate each filed amount in 2026 dollars.
Estimated with BLS CPI-U for the Northeast region, restating filed pay into May 2026 dollars. A restatement of past pay, not current or projected pay.
Plus 7 unpaid individuals.
Top pay as a share of expenses
In 2024, the highest total compensation at Maine Financial Institutions Employee Benefits Trust equaled 0.1% of the organization's total expenses. The median for mutual & membership benefit organizations is 4%.
Based on 1,353 mutual & membership benefit organizations, each measured at its most recent filing year with reported expenses and compensation.
Up 2%
from 2023
From $40k in 2023 to $41k in 2024.
Estimated with BLS CPI-U for the Northeast region, restating filed pay into May 2026 dollars. A restatement of past pay, not current or projected pay.
Chief Operating Officer pay rose 2% from 2023 to 2024, while revenue rose 1%.
- Chief Executive Officer pay rose 4% from 2023 to 2024.
- Senior Vice President pay fell 47% from 2023 to 2024.
Pay for the position itself, not any one person. The officeholder may have changed between 2023 and 2024.
Revenue and expenses over time
Maine Financial Institutions Employee Benefits Trust reported revenue and expenses across 2 filing years.
What Mutual & Membership Benefit executives earn
Comparable mutual & membership benefit organizations nationwide pay their highest-earning executive a median of $26,876.
These are mutual & membership benefit sector-wide figures, not this organization's reported pay. Based on 1,359 organizations across 1,359 filings (2021 – 2024).
See full Mutual & Membership Benefit compensation data →Common questions about Maine Financial Institutions Employee Benefits Trust
What does the Chief Operating Officer of Maine Financial Institutions Employee Benefits Trust earn?
In 2024, the Chief Operating Officer of Maine Financial Institutions Employee Benefits Trust received $40,629 in total compensation. This pay is in the bottom quarter for Chief Operating Officer roles among nonprofits nationwide, across all sectors, above the lowest 10% of comparable filings. Based on IRS Form 990 data.
How does Chief Operating Officer pay at Maine Financial Institutions Employee Benefits Trust compare with similar nonprofits?
Compared with the same role at nonprofits nationwide, across all sectors, the 2024 pay of the Chief Operating Officer at Maine Financial Institutions Employee Benefits Trust falls between the 10th and 25th percentiles. In 2024, the highest total compensation at Maine Financial Institutions Employee Benefits Trust equaled 0.1% of the organization's total expenses. The median for mutual & membership benefit organizations is 4%.
What are Maine Financial Institutions Employee Benefits Trust's revenue and expenses?
In 2024, Maine Financial Institutions Employee Benefits Trust reported $35M in total revenue and $35M in total expenses on its IRS Form 990.
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