Nonprofit · EIN 01-0510641
MAINE CENTER FOR ENTERPRISE DEVELOPMENT
Tax-exempt · PORTLAND, ME 04104
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,367,620 | $1,358,358 | $9,262 | $319,240 | $229,375 | $89,865 |
| December 31, 2023 | 990 | $1,351,382 | $1,323,615 | $27,767 | $360,484 | $279,881 | $80,603 |
| December 31, 2022 | 990 | $962,397 | $1,020,453 | -$58,056 | $318,760 | $265,924 | $52,836 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $1,352,620
- of which government grants
- $83,900
- Program service revenue
- $15,000
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $30,500
- Compensation of officers, directors and key employees
- $184,755
- Other salaries and wages
- $216,705
- Salaries, compensation and benefits (total)
- $464,864
- Professional fundraising fees
- $0
- Occupancy
- $26,517
- Travel
- $14,945
- Program services (functional)
- $979,576
- Management and general (functional)
- $378,782
Balance sheet and other
- Total assets, start of year
- $360,484
- Total assets, end of year
- $319,240
- Total liabilities, end of year
- $229,375
- Net assets, end of year
- $89,865
- Net assets without donor restrictions
- $89,865
- Gross receipts
- $1,367,620
- Employees
- 4
- Volunteers
- 127
- Year formed
- 1997
- State of legal domicile
- ME
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| THOMAS RAINEY | EXECUTIVE DIRECTOR Officer | 40 | $181,262 | $3,493 |
| ANDREA K SUTER | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| SUSAN MACKAY | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| SKIP BATES | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| SUSAN AHERN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JAKE DANIELE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| STUART DAVIES | DIRECTOR THRU JULY 2024 Trustee or director | 1 | $0 | $0 |
| DOUG DEANGELIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CAL HANCOCK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DANIEL PILTCH | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BURAK SEZEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CORY VARGO | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHRIS VICKERS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KRYSTAL WILLIAMS | DIRECTOR THRU MAR 2024 Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 12 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| TOM RAINEY | EXECUTIVE DIRECTOR Officer | 40 | $154,289 | $3,493 |
| ANDREA K SUTER | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| SUSAN MACKAY | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| SKIP BATES | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| SUSAN AHERN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DOUG DEANGELIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CAL HANCOCK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DANIEL PILTCH | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BURAK SEZEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CORY VARGO | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHRIS VICKERS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KRYSTAL WILLIAMS | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2022: 15 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| THOMAS RAINEY | EXECUTIVE DIRECTOR Officer | 40 | $162,304 | $10,505 |
| CORY VARGO | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| BECKY MCKINNELL | SECRETARY THRU DEC Trustee or director, Officer | 1 | $0 | $0 |
| SUSAN MACKAY | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| ANDREA K SUTER | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| SUSAN AHERN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| SKIP BATES | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TODD KEILLER | DIRECTOR THRU DEC Trustee or director | 1 | $0 | $0 |
| BRIAN WHITNEY | DIRECTOR THRU DEC Trustee or director | 1 | $0 | $0 |
| DANIEL PILTCH | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CAL HANCOCK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BURAK SEZEN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DOUG DEANGELIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CHRIS VICKERS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KRYSTAL WILLIAMS | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 8628, PORTLAND, ME 04104-8628
- Principal officer (990 for 2024)
- THOMAS RAINEY, PO BOX 8628, PORTLAND, ME 04104
- Signed the 990
- THOMAS RAINEY, EXECUTIVE DIRECTOR
- Phone
- (207) 405-1667
- Website
- WWW.MCED.BIZ
- Return prepared by
- WIPFLI ADVISORY LLC
Mission
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.
Program accomplishments
- MARKETSHARE IS THE MOST EXPENSIVE MCE PROGRAM, WITH 2024 EXPENSES TOTALING $332,597 AND 41 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 78 NEW JOBS IN MAINE IN 2024.Expenses $332,597
- AT $228,499 IN EXPENSES AND 14 CLIENT COMPANIES PARTAKING, THE CULTIVATOR PROGRAM WAS THE SECOND MOST EXPENSIVE INITIATIVE FOR MCE IN 2024. 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 28 NEW JOBS IN MAINE IN 2024.Expenses $228,499
- THE FOODTECH MAINE PROGRAM COST $151,664 MAKING IT THE THIRD MOST EXPENSIVE MCE INITIATIVE IN 2024. THIS MCE 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. SIX COMPANIES PARTICIPATED IN THE PROGRAM IN 2024, MCE LOOKS TO CONTINUE THE PROGRAM INTO 2025.Expenses $151,644
- MCE'S LONGEST-RUNNING PROGRAM, TOP GUN, WAS THE FOURTH MOST EXPENSIVE PROGRAM IN 2024 AT $136,439. TOP GUN ASSISTED OVER 36 STARTUPS IN FIVE DIFFERENT MAINE REGIONS: PORTLAND, LEWISTON-AUBURN, HOULTON/MACHIAS, ELLSWORTH, 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.Expenses $136,439 · grants $30,500 · revenue $15,000
- THE MAINE BIOSCIENCE CLUSTER INITIATIVE WAS MCE'S FIFTH MOST EXPENSIVE PROGRAM IN 2024 AT $109,785. 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.Expenses $109,785
- THE LEAST EXPENSIVE OF MCE'S SIGNIFICANT PROGRAMS IS THE VISIONARY LEADERSHIP PROGRAM WITH EXPENSES OF $20,612 IN 2024. THE VISIONARY LEADERSHIP PROGRAM WAS A COLLABORATION WITH MCE, THE UNIVERSITY OF MAINE GRADUATE AND PROFESSIONAL CENTER AND BANGOR SAVINGS BANK. THE PROGRAM PROVIDES DEVELOPMENT OPPORTUNITIES FOR LEADERS OF STARTUPS AND SMALL BUSINESSES IN MAINE. THROUGH MONTHLY VIRTUAL MEETINGS, THE PROGRAM BUILDS A STRONG PEER GROUP, TEACHES LEADERSHIP SKILLS AND TOOLS FOR TODAY'S BUSINESS CHALLENGES, AND INTRODUCES PARTICIPANTS TO EXPERIENCED MAINE BUSINESS AND THOUGHT LEADERS.Expenses $20,612
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Check at the IRS |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 01-0510641
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1997
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Unknown (Z99)
- Assets (IRS master file)
- $358,879
- Income (IRS master file)
- $1,261,330
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,367,620 | $1,358,358 | $319,240 | XML |
| 990 | December 2023 | $1,351,382 | $1,323,615 | $360,484 | XML |
| 990 | December 2022 | $962,397 | $1,020,453 | $318,760 | XML |
| 990 | December 2021 | $1,053,182 | $952,952 | $380,716 | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 01-0510641).
Questions about MAINE CENTER FOR ENTERPRISE DEVELOPMENT
- What is the EIN of MAINE CENTER FOR ENTERPRISE DEVELOPMENT?
- The employer identification number (EIN) of MAINE CENTER FOR ENTERPRISE DEVELOPMENT is 01-0510641.
- Is MAINE CENTER FOR ENTERPRISE DEVELOPMENT tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1997.
- Are donations to MAINE CENTER FOR ENTERPRISE DEVELOPMENT tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does MAINE CENTER FOR ENTERPRISE DEVELOPMENT file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of MAINE CENTER FOR ENTERPRISE DEVELOPMENT due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did MAINE CENTER FOR ENTERPRISE DEVELOPMENT last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of MAINE CENTER FOR ENTERPRISE DEVELOPMENT?
- The 990 for the year ended December 31, 2024 names THOMAS RAINEY.
- Who are the officers and directors of MAINE CENTER FOR ENTERPRISE DEVELOPMENT?
- The 990 for the year ended December 31, 2024 lists 14 people; 1 received compensation from the organization, the highest $181,262 (THOMAS RAINEY, EXECUTIVE DIRECTOR).
- How much revenue does MAINE CENTER FOR ENTERPRISE DEVELOPMENT have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,367,620, expenses of $1,358,358 and total assets of $319,240 at year end.
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