2024-11-12T12:24:12-06:00 2023-12-31 390758449 WIPFLI LLP 30 LONG CREEK DRIVE SOUTH PORTLAND ME 041062437 990 2023-01-01 010510641 MAINE CENTER FOR ENTERPRISE DEVELOPMENT DBA MAINE CENTER FOR ENTREPRENEURS MAIN 2074051667 PO BOX 8628 PORTLAND ME 04104 TOM RAINEY EXECUTIVE DIRECTOR 2074051667 2024-11-08 1 0 JULIA HOWLAND CPA P01711658 2077745701 2024-11-08 2023 2024-10-15 13:58:12Z MAINE CENTER FOR ENTREPRENEURS TOM RAINEY PO BOX 8628 PORTLAND ME 04104 1351382 0 X WWW.MCED.BIZ X 1997 ME EMPOWERING & ENABLING ME'S NEXT GENERATION OF ENTREPRENEURS THROUGH TRAINING AND MENTORING. 11 11 4 125 0 0 922667 1290673 39730 60709 0 0 0 0 962397 1351382 30500 30500 0 0 456323 480277 0 0 0 533630 812838 1020453 1323615 -58056 27767 318760 360484 265924 279881 52836 80603 X TO CREATE HIGH QUALITY JOBS FOR MAINE THROUGH BEST PRACTICE INCUBATIONS SERVICES THAT SYSTEMATICALLY ASSIST NEW BUSINESSES WITH INTELLECTUAL PROPERTY AND BUSINESS PLAN NEEDS, R&D ACTIVITIES, EARLY STAGE FINANCING AND PRODUCT COMMERCIALIZATION. 1 1 213101 0 0 MARKETSHARE IS THE MOST EXPENSIVE MCE PROGRAM, WITH 2023 EXPENSES TOTALING $213,100.56 AND 28 CLIENT COMPANIES ENROLLED. A PROGRAM DESIGNED FOR MATURE MAINE-BASED FOOD AND BEVERAGE COMPANIES LOOKING TO AGGRESSIVELY EXPAND DISTRIBUTION REGIONALLY AND NATIONALLY, MCE ENGAGES A TEAM OF SUBJECT MATTER EXPERTS TO WORK WITH EACH COMPANY TO PERFORM MARKETING ASSESSMENTS AND IDENTIFY GROWTH PLANS. MEMBER COMPANIES HAD REGULAR MONTHLY TO BI-MONTHLY WORKING AND TRACKING MEETINGS WITH THE PROGRAM MANAGER AND THE MCE MENTOR CONSULTANTS. THROUGHOUT THE YEAR, THE FOCUS OF CLIENT MEMBER MEETINGS IS MARKET DEVELOPMENT AND STRATEGY. TEN COMPANY-SPECIFIC CATEGORY REPORTS WERE PURCHASED AND ANALYZED TO IDENTIFY NEW SALES OPPORTUNITIES, MANY LEADING TO WINS OF NEW ACCOUNTS OR ADDITIONAL ITEMS ADDED TO EXISTING ACCOUNTS. OTHER FOOD AND BEVERAGE INDUSTRY RESOURCES WERE ALSO PURCHASED, COMPILED, AND UTILIZED THROUGHOUT THE YEAR. MARKETSHARE MEMBER COMPANIES ALSO PARTICIPATED IN QUARTERLY WORKSHOPS, THE FOOD PRODUCER SOCIAL, THE SEAFOOD SHOWCASE, AND THE MENTOR HAPPY HOURS IN CONJUNCTION WITH MCE'S CULTIVATOR PROGRAM. MARKETSHARE IS ESTIMATED TO HAVE CREATED 32 NEW JOBS IN MAINE IN 2023. 210504 0 5059 THE SEAFOOD / AQUA PROGRAM WAS THE SECOND MOST EXPENSIVE INITIATIVE IN 2023, WITH $210,487.08 IN EXPENSES AND 15 CLIENT COMPANIES ENROLLED. THIS PROGRAM OFFERS THE SAME MARKETSHARE AND CULTIVATOR SERVICES, EXCEPT THE PARTICIPANTS, SUBJECT MATTER EXPERTS, MENTORS, PROGRAM MANAGER, CATEGORY REPORTS, AND TOPICS ARE ALL SEAFOOD/AQUACULTURE RELATED. SEAFOOD/AQUA FOOD COMPANIES COMPRISE A CONSIDERABLE PERCENTAGE OF THE FOOD BUSINESS IN MAINE, AND THESE PARTICIPANTS HAVE BUSINESS NEEDS UNIQUE TO THEIR SPECIFIC INDUSTRY. THE SEAFOOD/AQUA PROGRAM SERVES THIS PARTICULAR BUSINESS NICHE. A PROGRAM MANAGER WITH OVER 50 YEARS OF EXPERIENCE IN THE AQUACULTURE INDUSTRY RECRUITS CLIENTS FOR THE CULTIVATOR OR MARKETSHARE AND MEETS WITH THEM MUCH LIKE THE CULTIVATOR PROJECT MANAGER. SEAFOOD / AQUA CLIENTS GET THE SAME CULTIVATOR PROGRAM BUT WITH THE ADDED SPECIALTY OF SEAFOOD/AQUACULTURE EXPERTS. LIKEWISE, SEAFOOD / AQUA CLIENTS GET THE SAME MARKETSHARE PROGRAM BUT WITH THE BONUS OF ALL REPORTING AND ANALYSIS PERTAINING SOLELY TO THE SEAFOOD INDUSTRY. SEAFOOD/AQUA IS ESTIMATED TO HAVE CREATED 45 NEW JOBS IN MAINE IN 2023. 143724 0 0 AT $143,723.61 IN EXPENSES AND TEN CLIENT COMPANIES PARTAKING, THE CULTIVATOR PROGRAM WAS THE THIRD MOST EXPENSIVE INITIATIVE FOR MCE IN 2023. IN THIS PROGRAM, EACH MEMBER COMPANY IS ASSIGNED A PERSONAL ASSESSMENT TEAM COMPRISED OF THREE SUBJECT MATTER EXPERTS IN MARKETING & SALES, FINANCE, AND OPERATIONS. THE PROGRAM BEGINS WITH AN INITIAL MEETING IN WHICH THE TEAM AND COMPANY COME TOGETHER TO ASSESS THE COMPANY'S BUSINESS. COLLABORATIVELY, THEY WORK TO IDENTIFY GAPS AND NEEDS THE COMPANY HAS THAT ARE PREVENTING THEM FROM SCALING UP TO THE NEXT LEVEL. BASED ON ASSESSMENT RESULTS, THEY CREATE AN AGREED-UPON ACTION PLAN AND ONGOING MILESTONE TRACKING RUBRIC TO ENSURE COMPANY ACCOUNTABILITY FOR DELIVERABLES. ALSO, MCE MATCHES EACH COMPANY WITH APPROPRIATE VOLUNTEER MENTORS FROM MCE'S MAINE MENTOR NETWORK (MMN) TO ADDRESS THEIR NEEDS. COMPANIES MEET BI-WEEKLY WITH MCE'S PROGRAM MANAGER THROUGHOUT THE NEXT 12 MONTHS TO WORK ON THE ACTION PLAN AND TRACK THE MEASURES THE COMPANY TAKES DURING THAT TIME. EACH COMPANY ALSO RECONNECTS WITH THE ENTIRE ASSESSMENT QUARTERLY TO REVIEW THE COMPANY'S EFFORTS OVER THE PAST THREE MONTHS. COMPANIES WILL ALSO ATTEND INDUSTRY-FOCUSED WORKSHOPS AND LEARNING EVENTS TAILORED TO THEIR NEEDS AND INTERESTS. PARTICIPANTS ALSO RECEIVE INCREASED EXPOSURE TO THE BUSINESS COMMUNITY THROUGH PROGRAM MARKETING, NETWORK EVENTS, AND THE ANNUAL FOOD PRODUCER SOCIAL FOR PAST AND PRESENT CULTIVATOR COMPANIES, PROVIDING ADDITIONAL OPPORTUNITIES FOR MAINE'S FOOD AND BEVERAGE COMPANIES TO CONNECT, SHARE, AND PARTNER. IN ADDITION, PROGRAM PARTICIPANTS ALSO GET TO SHOWCASE THEIR BUSINESS TO AN AUDIENCE OF POTENTIAL INVESTORS, BUSINESS LEADERS, AND JOURNALISTS AT THE END OF THE PROGRAM IN THE BIYEARLY FOOD PRODUCER'S SHOWCASE. CULTIVATOR IS ESTIMATED TO HAVE CREATED EIGHT NEW JOBS IN MAINE IN 2023. 126328 30500 0 MCE'S LONGEST-RUNNING PROGRAM, TOP GUN, WAS THE FOURTH MOST EXPENSIVE PROGRAM IN 2023 AT $126,327.59. TOP GUN ASSISTED OVER 30 STARTUPS IN SIX DIFFERENT MAINE REGIONS: PORTLAND, LEWISTON-AUBURN, HOULTON, ELLSWORTH, MACHIAS, AND WATERVILLE. THE COMPANIES WERE FROM VARIOUS INDUSTRIES RANGING FROM BIOSCIENCE AND BIOTECH TO FOOD AND BEVERAGE, TECHNOLOGY, OUTDOOR GOODS, AND OTHER HEALTHCARE-BASED SERVICES. DESIGNED SPECIFICALLY FOR ENTREPRENEURS WANTING TO GROW THEIR BUSINESSES AND ACHIEVE LONG-TERM, SUSTAINABLE SUCCESS. THE TOP GUN PROGRAM CULMINATES IN THE MAINE ENTREPRENEUR SUMMIT (MES), DURING WHICH OVER 250 MAINE-BASED BUSINESSES, LEADERS, ORGANIZATIONS, AND ENTREPRENEURS GATHER TO ATTEND BUSINESS-RELATED WORKSHOPS AND EXPLORE THE TRADE SHOW FEATURING TOP GUN ATTENDEES' PRODUCTS. ALSO AT MES IS THE STATEWIDE PITCH CONTEST WHERE THE TOP ATTENDEES FROM THAT YEAR'S COHORT EACH PITCH THEIR COMPANY TO A PANEL OF JUDGES. THE WINNING TEAM RECEIVES A CASH PRIZE OF $25,000. 120578 0 0 IN ITS INAUGURAL YEAR, THE FOODTECH MAINE PROGRAM COST $120,577.79, MAKING IT THE FIFTH MOST EXPENSIVE MCE INITIATIVE IN 2023. MCE'S NEWEST BUSINESS ACCELERATOR FOCUSED ON DRIVING GROWTH AND INNOVATION IN MAINE'S FOOD, AGRICULTURE, AND AQUACULTURE ECOSYSTEM. FOODTECH MAINE LEVERAGES TECHNOLOGY SOLUTIONS TO IMPROVE EFFICIENCY, SUSTAINABILITY, AND QUALITY IN THE FOOD INDUSTRY AND ENHANCE FOOD AND BEVERAGE PRODUCTS TASTE AND NUTRITIONAL BENEFITS. IT ALSO CONNECTS AND FOSTERS COLLABORATION AMONG EARLY-STAGE AND MID-SIZED COMPANIES INNOVATING AND DEVELOPING AGRI-FOOD INDUSTRY SERVICES OR PRODUCTS TO COMMERCIALIZE AND SCALE THEIR BUSINESS AND GROW THIS INDUSTRY IN MAINE. MAINE'S LONG HISTORY AS A CENTER FOR HIGH-QUALITY FOOD AND BEVERAGE PRODUCTION AND INNOVATION HAS POSITIONED THE STATE TO PLAY A MORE PROMINENT ROLE IN THIS FAST-GROWING NICHE INDUSTRY. STARTING THE PROGRAM STRONG WITH EIGHT COMPANIES, MCE LOOKS TO CONTINUE THE PROGRAM INTO 2025. 107466 0 0 FINALLY, THE MAINE BIOSCIENCE CLUSTER INITIATIVE WAS MCE'S LEAST EXPENSIVE PROGRAM IN 2023 AT $107,465.84. THIS PROGRAM FOCUSES ON PROVIDING MAINE BIOTECH, DIGITAL HEALTH, LIFE SCIENCES, AND MEDICAL DEVICE ENTREPRENEURS WITH THE TOOLS AND RESOURCES THEY NEED TO ACCELERATE THEIR BUSINESS. THE PROGRAM PROVIDES PARTICIPANTS WITH INDUSTRY EXPERTISE, HIGHLY COLLABORATIVE AND DYNAMIC LEARNING OPPORTUNITIES, TAILORED PROFESSIONAL RESOURCES, AND BUSINESS CONNECTIONS, ALL AT AN AFFORDABLE FLAT RATE. COMPANIES WORK CLOSELY WITH A PROGRAM MANAGER WITH OVER 20 YEARS OF EXPERIENCE IN HEALTHCARE SERVICES, MEDICAL DEVICES, AND LIFE SCIENCES ENTREPRENEURIAL EXPERIENCE. THE MANAGER WORKS ONE-ON-ONE WITH MEMBER COMPANIES TO UNDERSTAND THEIR BUSINESS NEEDS AND CONNECT THEM TO APPROPRIATE MCE, PARTNER, AND INDUSTRY RESOURCES. 56805 0 55650 COMPASS, DMR INITIATIVE AND FISIONARY LEADERSHIP PROGRAM ARE THE OTHER PROGRAMS. 411177 30500 55650 978506 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 40 0 1 4 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 X PHILBROOK AND ASSOCIATES 2075949460 PO BOX 1149 ROCKLAND ME 04841 ANDREA K SUTER CHAIR 1.00 X X 0 0 0 SUSAN MACKAY VICE CHAIR 1.00 X X 0 0 0 SKIP BATES TREASURER 1.00 X X 0 0 0 SUSAN AHERN DIRECTOR 1.00 X 0 0 0 DOUG DEANGELIS DIRECTOR 1.00 X 0 0 0 CAL HANCOCK DIRECTOR 1.00 X 0 0 0 DANIEL PILTCH DIRECTOR 1.00 X 0 0 0 BURAK SEZEN DIRECTOR 1.00 X 0 0 0 CORY VARGO DIRECTOR 1.00 X 0 0 0 CHRIS VICKERS DIRECTOR 1.00 X 0 0 0 KRYSTAL WILLIAMS DIRECTOR 1.00 X 0 0 0 TOM RAINEY EXECUTIVE DIRECTOR 40.00 X 154289 0 3493 154289 0 3493 1 0 1 0 JANINE BISAILLON-CARYMONTSERRAT GROUP 36 BRENTWOOD ROAD CAPE ELIZABETH ME 04107 MARKETSHARE PROGRAM MANAGER 136235 1 148113 1142560 1290673 VARIOUS PROGRAMS 611430 55650 55650 SEAFOOD CAPACITY PROGR 611430 5059 5059 60709 1351382 60709 0 0 X 30500 30500 157782 102328 55454 246709 170293 76416 14776 2239 12537 33641 33641 27369 27369 74 74 390396 295476 94920 17286 10752 6534 1626 1626 6726 6726 25251 25251 16215 16215 2723 2723 1294 1294 PROGRAM EXPENSES 350695 350695 552 8 544 1323615 978506 345109 0 125594 128370 189866 228364 3300 3750 318760 360484 67339 78297 198585 201584 265924 279881 X 52836 80603 52836 80603 318760 360484 27767 0 X 0 0 0 X 683527 850601 1015232 922667 1290673 4762700 31467 20854 37950 39730 60709 190710 714994 871455 1053182 962397 1351382 4953410 0 0 0 4953410 714994 871455 1053182 962397 1351382 4953410 1.00000 1.00000 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 OCEAN FARM SUPPLY LLC 753 RIVER ROAD UNIT 1 BRUNSWICK ME 04011 853826127 5000 0 2023 TOP GUN MICHAEL SHEEHAN MEMORIAL AWARD RMT TECH LLC DBA REACH MY TEACH 36 RUNNELS ST PORTLAND ME 04103 870923410 25000 0 2023 TOP GUN SHOWCASE PRIZE 2 PART I, LINE 2: MCE DOES NOT MONITOR THE USE OF THE PRIZE MONEY NOR DO WE REQUIRE ANY OF OUR AWARDEES TO REPORT ON HOW THEY SPEND THEIR PRIZE MONEY, SIMPLY A VERBAL ACKNOWLEDGEMENT FROM THEM, UPON RECEIPT OF THE PRIZE, THAT THE PRIZE MONEY WILL BE SPENT ON SOME ASPECT OF BUILDING THEIR BUSINESS IN MAINE. THIS SPEND COULD BE ANYTHING THAT HELPS MOVE THEIR COMPANY TO THE NEXT LEVEL - LAUNCHING A CROWDFUNDING CAMPAIGN, CONDUCTING MARKET RESEARCH OR NEW MACHINERY PURCHASES, ARE SOME EXAMPLES. X 0 0 0 0 0 0 0 1 0 TOM RAINEY EXECUTIVE DIRECTOR 147151 0 7138 0 0 0 0 0 3493 0 157782 0 0 0 PART I, LINE 7 TOM RAINEY RECEIVED A BONUS THAT WAS DETERMINED BY THE BOARD OF DIRECTORS BASED ON PERFORMANCE. FORM 990, PART III, LINE 2 YES, IN 2023, MCE BEGAN THE FOODTECH MAINE INITIATIVE, MCE'S NEWEST BUSINESS ACCELERATOR FOCUSED ON DRIVING GROWTH AND INNOVATION IN MAINE'S FOOD, AGRICULTURE, AND AQUACULTURE ECOSYSTEM. THE FOODTECH MAINE PROGRAM LEVERAGES TECHNOLOGY SOLUTIONS TO IMPROVE EFFICIENCY, SUSTAINABILITY, AND QUALITY IN THE FOOD INDUSTRY AND ENHANCES FOOD AND BEVERAGE PRODUCTS TASTE AND NUTRITIONAL BENEFITS. MCE CONNECTS AND FOSTERS COLLABORATION AMONG EARLY-STAGE AND MID-SIZED COMPANIES WITH A PRODUCT OR SERVICE THAT UTILIZES TECHNOLOGY, INNOVATION, OR SCIENCE IN THE AGRI-FOOD INDUSTRY. OUR PROGRAM PROVIDES TAILORED PROFESSIONAL RESOURCES, INDUSTRY EXPERTISE AND COACHING, AND NETWORK-BUILDING OPPORTUNITIES TO ENABLE PARTICIPATING COMPANIES TO COMMERCIALIZE AND SCALE THEIR BUSINESS AND GROW MAINE'S FOODTECH ECOSYSTEM. WE SERVED EIGHT FOOD TECH COMPANIES DURING 2023. THE PROGRAM GENERATED APPROXIMATELY $142,000 IN GROSS INCOME FOR THE YEAR. MCE SOUGHT AND SECURED ADDITIONAL FUNDING IN 2023 TO ENSURE WE COULD OFFER THE PROGRAM THROUGH 2024 AND INTO EARLY 2025. IN ADDITION, THE BIOSCIENCE CLUSTER (WHICH SPENT ABOUT NINE MONTHS ON HOLD DURING 2022) WAS BACK UP AGAIN IN APRIL 2023 AFTER THE EDA APPROVED OUR PROPOSED RE-BUDGET AT THE END OF 2022. IN THE FIRST QUARTER, MCE ENGAGED A NEW CONTRACTOR TO LEAD THE BIOSTARTUP PROGRAM, AN INITIATIVE UNDER THE BIOSCIENCE CLUSTER PURVIEW. BIOSTARTUP FOCUSES ON PROVIDING MAINE BIOTECH, DIGITAL HEALTH, LIFE SCIENCES, AND MEDICAL DEVICE ENTREPRENEURS WITH THE TOOLS AND RESOURCES THEY NEED TO ACCELERATE THEIR BUSINESS. WE DO THIS BY PROVIDING PARTICIPANTS ACCESS TO HIGHLY COLLABORATIVE INDUSTRY EXPERTS, LEADING TO DYNAMIC LEARNING OPPORTUNITIES, TAILORED PROFESSIONAL RESOURCES, AND BUSINESS CONNECTIONS AT A VERY LOW FLAT RATE. MCE SERVED SIX BIOSTARTUP CLIENT COMPANIES IN 2023. ALSO RETURNING IN 2023 WAS THE BIOINNOVATE PROGRAM, ANOTHER INITIATIVE UNDER THE BIOSCIENCE CLUSTER UMBRELLA. THE BIOINNOVATE PROGRAM ALSO PROVIDES MAINE BIOTECH COMPANIES WITH EXPERT GUIDANCE; HOWEVER, COMPANIES IN THIS PROGRAM HAVE DEVELOPED OR ARE DEVELOPING INNOVATIONS THAT QUALIFY FOR INTELLECTUAL PROPERTY PROTECTION. OUR CONTRACTOR REVIEWS EACH COMPANY'S INTELLECTUAL PROPERTY RIGHTS TO DETERMINE THE LIKELIHOOD OF OBTAINING PATENTS AND/OR LICENSING DESIGNS TO OTHER BIOMEDICAL COMPANIES. PAIRING INNOVATORS WITH THE RIGHT LEGAL AND PROFESSIONAL PARTNERS IS ANOTHER SERVICE OFFERED. DURING 2023, MCE ENGAGED 17 CLIENTS IN THE BIOINNOVATE PROGRAM. AS A WHOLE, THE BIOSCIENCE CLUSTER GENERATED APPROXIMATELY $195,000 IN GROSS INCOME FOR THE YEAR. DUE TO THE 9-MONTH DELAY IN 2022, MCE PETITIONED THE EDA IN NOVEMBER 2023 FOR AN EXTENSION, ALLOWING THE PROGRAM TO CONTINUE UNTIL SEPTEMBER 2024. IN DECEMBER 2023, MCE RECEIVED EDA APPROVAL, ENSURING THE PROGRAM RUNS UNTIL SEPTEMBER 2024. MCE ALSO RECEIVED FUNDING IN 2023 TO BRING THE VISIONARY LEADERSHIP PROGRAM BACK IN 2024. WE BEGAN PLANNING ADDITIONAL CONTRACTOR AND EMPLOYEE SUPPORT TO ENGAGE AND RECRUIT MAINE SMALL BUSINESS LEADERS INTO THE PROGRAM FOR A JANUARY 2024 START DATE. THIS INCLUDES CONTENT CREATION, GENERATING A SYLLABUS, AND ONBOARDING CLIENT COMPANIES. THIS WILL BRING ABOUT $20,000 IN GROSS REVENUE TO MCE IN 2024. FORM 990, PART III, LINE 3 YES, IN 2023, MCE'S VISIONARY LEADERSHIP PROGRAM TOOK A YEAR'S HIATUS FROM OUR PROGRAM OFFERINGS DUE TO A LACK OF FUNDING. ALSO, MCE'S COMPASS PROGRAM, WHICH WORKED WITH SMALL BUSINESSES IN THE OUTDOOR RECREATION ECONOMY, DID NOT RETURN IN 2023 DUE TO A LACK OF FUNDING. BASED ON THE INCOME THE PROGRAMS GENERATED FOR MCE IN 2022, THIS RESULTED IN ABOUT A $52,500 LOSS IN GROSS REVENUE FOR MCE IN 2023. FORM 990, PART VI, SECTION B, LINE 11B OPERATIONS MANAGER, EXECUTIVE DIRECTOR AND TREASURER REVIEW THE 990 BEFORE FILING. THE DRAFT 990 IS ALSO SENT TO BOARD OF DIRECTORS BEFORE FILING. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 11G PROFESSIONAL SERVICES & CONTRACTORS: PROGRAM SERVICE EXPENSES 295,476. MANAGEMENT AND GENERAL EXPENSES 94,920. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 390,396.