Form 990 for tax year 2023

Totals

Total revenue

$1,934,216

Total expenses

$2,069,006

Contributions and grants received

$1,798,367

Grants paid

$704,561

Program service revenue

$127,798

Investment income

$251

Other revenue

$7,800

Total assets, end of year

$1,842,642

Total liabilities, end of year

$1,166,959

Net assets or fund balances, end of year

$675,683

Program services expenses (Part IX)

$1,398,465

Management and general expenses

$447,192

Fundraising expenses

$223,349

Program service expenses (Part III)

$1,398,465

Program services were 67.6% 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 · 2023

• Trade Missions:Each year the Trade Center organizes a gubernatorial trade mission, as well as smaller trade missions. The trade missions provide one-on-one meetings with potential foreign trade partners and unique networking opportunities. Trade missions are particularly useful for first time exporters or companies having difficulty expanding into a particular country or market. The Trade Center arranges all details of the missions including transportation, translators, and business meetings.

  Expenses $891,569 · Grants $704,561 · Revenue $111,276

• Trade Shows and International Conferences:The Trade Center offers group trips and discounts on overseas trade show space through its alliance with other government agencies. This is a convenient way for members to participate in overseas shows and display products internationally. The Maine International Trade Center also hosts international conferences and incoming delegations from overseas. Trade Center members enjoy opportunities to network with foreign buyers, commercial representatives and visiting dignitaries.

  Expenses $210,341 · Revenue $10,787

• Programs and Seminars:The Trade Center's programs are designed to educate Maine companies in all areas of trade. The topics respond to issues of importance to our membership - ranging from the essentials in conducting international business or country/industry-specific regulations, to understanding the state and federal resources that are available for Maine's internationally active business.

  Expenses $168,561 · Revenue $5,735

• Technical Assistance & Trade Counseling:The Trade Center assists its members in researching new markets; reviewing trade regulations, tariffs and logistics, and in product sourcing. The Trade Center's staff is committed to providing quality information and practical advice in selecting markets for our members' products and services. There are a number of resources we have available to the public in our Portland Trade Library, and on our website where trade news and current export data is listed. We have extensive internet research capabilities and on-line database services along with internet reference guides that provide our members with timely information on foreign markets.

  Expenses $127,994

As filed on the 2023 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

• Xodus Group Inc

  $103,453

  Consulting services

• Compotech Inc

  $28,351

  Trade show & International conferences

• Deepwater Buoyancy

  $26,220

  Trade show & International conferences

• Kelson Marine

  $20,482

  Trade show & International conferences; e-commerce & digital marketing; market research & diversification

• Mallard Enterprises

  $18,000

  Trade show & International conferences

• Montalvo Corp

  $17,269

  Trade show & International conferences

• Blue Barn LLC dba Bluet

  $16,227

  Trade show & International conferences; market research & diversification assistance; e-commerce & digital marketing

• Comfort Waters LLC dba Three Of Strong Spirits

  $15,000

  Market research & diversification assistance

• Demers Food Group Inc

  $15,000

  Market research & diversification assistance

• Grimburg Less Lethal

  $15,000

  Market research & diversification assistance

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

• State of Maine

  ME

Provenance

Return type

form_990

Tax year

2023

Filed

12 May 2025

IRS schema version

2023v6.0

Source object

202531349349300848

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.