2024-01-17T15:26:48-06:00 2022-12-31 390758449 WIPFLI LLP 30 LONG CREEK DRIVE SOUTH PORTLAND ME 041062437 990 2022-01-01 010510641 MAINE CENTER FOR ENTERPRISE DEVELOPMENT DBA MAINE CENTER FOR ENTREPRENEURS MAIN 2077748111 PO BOX 8628 PORTLAND ME 04104 THOMAS RAINEY EXECUTIVE DIRECTOR 2077748111 2024-01-17 1 THOMAS RAINEY 999009999 0 JULIA HOWLAND CPA P01711658 2077745701 2024-01-17 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z MAINE CENTER FOR ENTREPRENEURS THOMAS RAINEY PO BOX 8628 PORTLAND ME 04104 962397 0 X WWW.MCED.BIZ X 1997 ME EMPOWERING & ENABLING ME'S NEXT GENERATION OF ENTREPRENEURS THROUGH TRAINING AND MENTORING. 14 14 5 140 0 0 1015232 922667 37950 39730 0 0 0 0 1053182 962397 30000 30500 0 0 347951 456323 0 0 0 575001 533630 952952 1020453 100230 -58056 380716 318760 269824 265924 110892 52836 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 201486 0 2085 THE MOST EXPENSIVE PROGRAM MCE HAD IN 2022 WAS THE MARKETSHARE PROGRAM WITH $201,485.27 IN 2022 EXPENSES, MARKETSHARE IS FOR MATURE MAINE FOOD AND BEVERAGE COMPANIES LOOKING TO AGGRESSIVELY EXPAND DISTRIBUTION BOTH REGIONALLY AND NATIONALLY. MCE SERVICED 26 MAINE FOOD AND BEVERAGE COMPANIES IN MARKETSHARE'S 2022 PROGRAM. A TEAM OF SUBJECT MATTER EXPERTS WORKS WITH EACH COMPANY TO DO MARKETING ASSESSMENTS AND IDENTIFY GROWTH PLANS. MEMBER COMPANIES HAD REGULAR MONTHLY TO BI-MONTHLY WORKING AND TRACKING MEETINGS WITH THE PROGRAM MANAGER AND MCE MENTOR CONSULTANTS. THE FOCUS OF THESE MEETINGS THROUGHOUT THE YEAR WAS ON MARKET DEVELOPMENT. SEVEN 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 MAINE FOOD PRODUCER SHOWCASE, AND FOOD PRODUCER SOCIAL IN CONJUNCTION WITH MCE'S CULTIVATOR PROGRAM. 195957 30500 37645 MCE'S PROGRAM OFFERINGS IN 2022 MADE UP A TOTAL OF $195,956.96 IN EXPENSES. THOSE PROGRAMS INCLUDED: TOP GUN, THE DMR INITIATIVE, THE VISIONARY LEADERSHIP PROGRAM (VLP), THE BIOSCIENCE CLUSTER, AND THE COMPASS PROGRAM. TOP GUN HAD $116,497.24 IN EXPENSES THAT YEAR. MCE'S LONGEST RUNNING PROGRAM, IN 2022 TOP GUN ASSISTED 24 STARTUPS IN FOUR REGIONS OF THE STATE OF MAINE: PORTLAND, LEWISTON/AUBURN, WATERVILLE, AND BANGOR. THE COMPANIES WERE FROM VARIOUS INDUSTRIES THAT RANGED FROM BIOSCIENCE TO TECHNOLOGY TO FOOD AND BEVERAGE, OUTDOOR GOODS, AND OTHER HEALTHCARE BASED SERVICES. THROUGH TOP GUN, MCE FAST-TRACKS ENTREPRENEURS FROM DIVERSE BACKGROUND AND TEACHES THEM TO CREATE A SCALABLE, SUSTAINABLE BUSINESS WHILE BUILDING PERSONAL AND PROFESSIONAL MENTORING RELATIONSHIPS. TOP GUN CULMINATED IN ITS REGIONAL PITCHOFFS, THEN A STATEWIDE PITCH CONTEST AND TRADE SHOW CELEBRATION WITH APPROXIMATELY 200 ATTENDEES WHILE A CASH PRIZE OF $25,000 WAS AWARDED TO THE COMPANY WITH THE WINNING PITCH. THE DMR INITIATIVE SAW $32,885.44 IN EXPENSES FOLLOWED BY THE BIOSCIENCE PROGRAM WITH $21,001.57, THE COMPASS PROGRAM FOR BUSINESSES DEALING WITH OUTDOOR RECREATION ENTREPRENEURS AT $18,557.36 AND THE VLP AT $7,015.35, 180452 0 0 CULTIVATOR MEASURED $180,452.21 IN 2022 EXPENSES. THAT YEAR, CULTIVATOR SERVICED 13 MAINE FOOD AND BEVERAGE COMPANIES. EACH COMPANY WAS ASSIGNED AN ASSESSMENT TEAM OF THREE SUBJECT MATTER EXPERTS IN THE AREAS OF MARKETING & SALES, FINANCE, AND OPERAIONS. THE GROUP PERFORMED A DEEP DIVE ASSESSMENT OF THE COMPANY'S BUSINESS, CREATED STRATEGIC PRIORITIES, AND A SPECIFIC ACTION PLAN FOR EACH COMPANY TO IMPLEMENT. EACH COMPANY HAS BI-WEEKLY MEETINGS THE MCE'S PROGRAM MANAGER THROUGHOUT THE YEAR TO WORK ON THE ACTION PLAN AND TRACK ACTIONS TAKE THROUGHOUT THE CALENDAR YEAR. EACH COMPANY ALSO HAS QUARTERLY MEETINGS WITH THE ASSESSMENT TEAM. MCE ALSO HOSTS SEVERAL INDUSTRY-SPECIFIC QUARTERLY MEETINGS WITH THE LARGER ASSESSMENT TEAM. MCE ALSO HOSTS SEVERAL INDUSTRY-SPECIFIC QUARTERLY WORKSHOPS/WEBINAR SERIES FOR ALL CULTIVATOR COMPANIES. TOPICS INCLUDE FUNDING YOUR FOOD AND BEVERAGE BUSINESS, DEVELOPING A SALES TEAM, THE FUTURE OF THE FOOD INDUSTRY, AND BEST PRACTICES FOR PRICING AND PACKAGING CHANGES. IN 2022, MDE ALSO HOSTED OUR FIRST MAINE FOOD PRODUCER SHOWCASE WITH 40 CULTIVATOR COMPANIES (FROM BOTH THAT YEAR'S COHORT AND PREVIOUS YEARS' COMPANY PARTICIPANTS) FROM ACROSS 13 MAINE COUNTIES. THESE COMPANIES COVERED FOOD CATEGORIES FROM GRAINS, PRODUCE, PROTEINS, PASTA, SAUCES, SEAFOOD, SWEETS, SNACKS, AND BEVERAGES. OVER 300 PEOPLE ATTENDED THE EVENT INCLUDING BUYERS, INVESTORS, BUSINESS RESOURCES, AND MEDIA. MCE ALSO HOSTED A FOOD PRODUCER SOCIAL FOR PAST AND PRESENT CULTIVATOR COMPANIES, PROVIDING ADDITIONAL OPPORTUNITIES FOR MAINE'S FOOD AND BEVERAGE COMPANIES TO CONNECT, SHARE, AND PARTNER. 100130 0 0 THE SEAFOOD CAPACITY EXPANSION, THE THIRD ARM OF THE FOOD ACCELERATOR PROGRAMS HAD $100,129.94 IN EXPENSES. SEAFOOD-AQUA IS ESSENTIALLY THE SAME AS MARKETSHARE AND CULTIVATOR, HOWEVER, ALL THE COMPANIES SERVED UNDER THIS PROGRAM ARE DIRECTLY RELATED TO SEAFOOD OR OTHER MAINE BUSINESSES IN THE BLUE ECONOMY. THIS INCLUDES EVERYTHING FROM FISHERMEN AND COMPANIES THAT SELL FROZEN SEAFOOD TO LARGE GROCERS TO THOSE IN THE SEAWEED HARVEST OR OYSTER BUSINESS. MCE HIRED A SUBJECT MATTER EXPERT IN THIS FIELD TO CONSULT SPECIFICALLY WITH BLUE ECONOMY BUSINESSES IN 2021 AND THE FRUITS OF HER LABOR WERE FELT IN 2022. NOT ONLY DID COSTS INCREASE DUE TO THAT FACT THAT MCE COULD SIGN ON SO MANY SEAFOOD BASED BUSINESSES, BUT FUNDING DID AS WELL. THERE WERE MANY PEOPLE AND COMPANIES LOOK TO PROVIDE FINANCIAL SUPPORT TO THIS PROGRAM. MARKETSHARE PROVIDES MARKET DATA SPECIFICALLY TO EACH MEMBER'S SEAFOOD/AQUA BUSINESS WHILE CULTIVATOR PROVIDES TREMENDOUS CONNECTIONS TO SUCCESSFUL ENTREPRENEURS VIA THEIR ASSESSMENT TEAMS. 100130 0 0 678025 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 53 0 1 5 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 14 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 CORY VARGO TREASURER 1.00 X X 0 0 0 BECKY MCKINNELL SECRETARY THRU DEC 1.00 X X 0 0 0 SUSAN MACKAY VICE CHAIR 1.00 X X 0 0 0 ANDREA K SUTER CHAIR 1.00 X X 0 0 0 SUSAN AHERN DIRECTOR 1.00 X 0 0 0 SKIP BATES DIRECTOR 1.00 X 0 0 0 TODD KEILLER DIRECTOR THRU DEC 1.00 X 0 0 0 BRIAN WHITNEY DIRECTOR THRU DEC 1.00 X 0 0 0 DANIEL PILTCH DIRECTOR 1.00 X 0 0 0 CAL HANCOCK DIRECTOR 1.00 X 0 0 0 BURAK SEZEN DIRECTOR 1.00 X 0 0 0 DOUG DEANGELIS 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 THOMAS RAINEY EXECUTIVE DIRECTOR 40.00 X 162304 0 10505 162304 0 10505 1 0 1 0 JANINE BISAILLON-CARYMONTSERRAT GROUP 36 BRENTWOOD ROAD CAPE ELIZABETH ME 04107 MARKETSHARE PROGRAM MANAGER 115200 1 90019 832648 922667 VARIOUS PROGRAMS 611430 39730 39730 39730 962397 39730 0 0 X 30500 30500 172809 116371 56438 218102 146873 71229 7606 5122 2484 30803 20743 10060 27003 18184 8819 35 35 196790 54707 142083 8567 738 7829 5285 5285 6313 6313 22243 22243 3686 3686 3512 3512 2880 2880 PROGRAM EXPENSES 281101 281101 OTHER EXPENSES 3218 3218 1020453 678025 342428 0 199116 125594 178300 189866 3300 3300 380716 318760 60474 67339 209350 198585 269824 265924 X 110892 52836 110892 52836 380716 318760 -58056 0 X 0 0 0 X 520453 683527 850601 1015232 922667 3992480 33400 31467 20854 37950 39730 163401 553853 714994 871455 1053182 962397 4155881 0 0 0 4155881 553853 714994 871455 1053182 962397 4155881 1.00000 1.00000 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 OCEAN INNOVATION LLC 21 BOWMORE LANE YARMOUTH ME 04096 863999480 25000 0 2022 TOP GUN SHOWCASE PRIZE 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 THOMAS RAINEY EXECUTIVE DIRECTOR 154976 0 7328 0 0 0 7300 0 3205 0 172809 0 0 0 PART I, LINE 7 THOMAS RAINEY RECEIVED A BONUS THAT WAS DETERMINED BY THE BOARD OF DIRECTORS BASED ON PERFORMANCE. FORM 990, PART III, LINE 2 IN 2022, MCE SOUGHT FUNDING AND BEGAN PLANNING ADDITIONAL CONTRACTOR SUPPORT TO ENGAGE AND RECRUIT MORE FOOD INDUSTRY TECHNOLOGY BUSINESSES. WE PLAN TO LAUNCH THAT MULTI-YEAR PILOT PROGRAM CALLED "FOODTECH MAINE" IN 2023. WE ALSO CONTINUED OUR VISIONARY LEADERSHIP PROGRAM, WHICH TRAINS EMERGING BUSINESS LEADERS. FORM 990, PART III, LINE 3 THE BIOSCIENCE CLUSTER SPENT ABOUT 9 MONTHS OF 2022 ON HOLD WHILE THE PROGRAM WAS REBUDGETED FOR EDA APPROVAL. THIS WAS A SIGNIFICANT CHANGE BOTH IN THE BIOSCIENCE SERVICES MCE OFFERED AS WELL AS THE INCOME MCE RECEIVED IN 2022. HOWEVER, BOTH THE BIOINNOVATE PROGRAM AND THE BIOSTARTUP PROGRAM (BOTH OF WHICH FALL UNDER THE BIOSCIENCE CLUSTER) WILL BE OFFERED AGAIN 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 54,707. MANAGEMENT AND GENERAL EXPENSES 142,083. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 196,790.