Form 990 for tax year 2024

Totals

Total revenue

$1,367,620

Total expenses

$1,358,358

Contributions and grants received

$1,352,620

Grants paid

$30,500

Program service revenue

$15,000

Investment income

$0

Other revenue

$0

Total assets, end of year

$319,240

Total liabilities, end of year

$229,375

Net assets or fund balances, end of year

$89,865

Program services expenses (Part IX)

$979,576

Management and general expenses

$378,782

Fundraising expenses

$0

Program service expenses (Part III)

$979,576

Program services were 72.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Mission and programs · 2024

• 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

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

• NOR'EASTER OYSTER CO

  $25,000

  2024 TOP GUN SHOWCASE PRIZE

• DELTACOM COFFEE LLC

  $5,000

  2024 TOP GUN MICHAEL SHEEHAN MEMORIAL AWARD

Provenance

Return type

form_990

Tax year

2024

Filed

5 November 2025

IRS schema version

2024v5.2

Source object

202523149349305027

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