Assets of Maine congressional delegation reported

Posted June 18, 2010, at 9:35 a.m.

AUGUSTA, Maine — U.S. Sen. Olympia Snowe continues to be the wealthiest among Maine’s four congressional members, according to newly released financial disclosure reports.

Figures in the non-partisan, Washington-based LegiStorm website lists all assets, income and investments for members, excluding their $174,000 annual congressional salary and benefits and their home residences.

Annual reports, made public Wednesday, showed the delegation members’ wealth in 2009.

Filings say Republican Snowe and her husband, former Maine Gov. John McKernan, have assets worth between $12 million and $46 million. The couple’s largest asset is common stock in Education Management Corp. and falls in the category of being worth between $5 million and $25 million.

Snowe’s report details a wide array of annuities, equity funds and other investments. Her net worth is about the same as it was in last year’s report.

Republican Sen. Susan Collins’ report lists assets between $110,000 and $300,000, about the same as the previous filing. Her assets include an annuity, a pair of IRAs and two bank accounts.

Democratic Rep. Chellie Pingree, who represents the 1st District, listed assets of between $600,000 and $1.25 million. She earns no income from the bed and breakfast she owns on North Haven, an island in Penobscot Bay, but she has eliminated the mortgage debt she listed in the previous year’s report.

Democratic Rep. Mike Michaud, who represents the 2nd District, had assets between $222,000 and $690,000 listed in the report. It showed he earns rental income on two properties in East Millinocket and one in Augusta totaling $12,500 to $35,000. He also owns 6.5 acres in Medway, worth between $1,000 and $15,000.

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