Form 990 for tax year 2023

Totals

Total revenue

$1,351,382

Total expenses

$1,323,615

Contributions and grants received

$1,290,673

Grants paid

$30,500

Program service revenue

$60,709

Investment income

$0

Other revenue

$0

Total assets, end of year

$360,484

Total liabilities, end of year

$279,881

Net assets or fund balances, end of year

$80,603

Program services expenses (Part IX)

$978,506

Management and general expenses

$345,109

Fundraising expenses

$0

Program service expenses (Part III)

$978,506

Program services were 73.9% 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

• 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.

  Expenses $213,101

• 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.

  Expenses $210,504 · Revenue $5,059

• 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.

  Expenses $143,724

• 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.

  Expenses $126,328 · Grants $30,500

• 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.

  Expenses $120,578

• 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.

  Expenses $107,466

• COMPASS, DMR INITIATIVE AND FISIONARY LEADERSHIP PROGRAM ARE THE OTHER PROGRAMS.

  Expenses $56,805 · Revenue $55,650

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

• RMT TECH LLC DBA REACH MY TEACH

  $25,000

  2023 TOP GUN SHOWCASE PRIZE

• OCEAN FARM SUPPLY LLC

  $5,000

  2023 TOP GUN MICHAEL SHEEHAN MEMORIAL AWARD

Provenance

Return type

form_990

Tax year

2023

Filed

8 November 2024

IRS schema version

2023v5.1

Source object

202433179349304318

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

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