2026-04-16T19:05:47-07:00 2025-06-30 990 2024-07-01 820987230 MAINE CENTER VENTURES MAIN 2075815846 c/o UMS BOT 15 Estabrooke Drive Orono ME 04469 Seth Goodall Chief Executive Officer 2078379203 2026-04-16 1 2024 2025-03-06 01:10:19Z Seth Goodall University of Maine System 300 Fore Street Portland ME 04102 19298 0 X X 2017 ME Support and promote the University of Maine Graduate & Professional Center through fundraising, branding, and engagement with Maine enterprises and employers to identify training needs, create experiential education opportunities for students, and develop incubator and accelerator programs. 9 5 0 9 0 0 0 2400 0 0 4098 16898 0 0 4098 19298 24764 83042 0 0 0 0 0 0 0 0 0 24764 83042 -20666 -63744 364807 301063 0 0 364807 301063 X Support and promote the University of Maine Graduate & Professional Center ("Maine Center") of the University of Maine System through fundraising, marketing, and engagement with Maine enterprises and employers to identify and address training needs, create experiential education opportunities for Maine Center students, and develop incubator and accelerator programs. 0 1 59802 59802 0 Maine Center Ventures supported operations of the University of Maine Graduate & Professional Center ("Maine Center") of its supported organization, the University of Maine System, by making a contribution to the Maine Center's general operations and special initiatives. 20736 20736 0 Maine Center Ventures supported operations of the University of Maine Graduate & Professional Center ("Maine Center") of its supported organization, the University of Maine System, by making a contribution to the Maine Center's gift program for faculty, visiting scholars, adjunct professors, and instruction costs. 2504 2504 0 Maine Center Ventures supported operations of the University of Maine Graduate & Professional Center ("Maine Center") of its supported organization, the University of Maine System, by making a contribution to the Maine Center's gift program for student fellowships, externships, practicums, and scholarships. 0 0 0 83042 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 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 9 5 1 0 0 0 0 1 0 1 1 0 0 1 1 0 1 0 1 1 0 0 X Ryan Low - Treasurer 2075815846 15 Estabrooke Drive Orono ME 04469 Dannel Malloy Chair, Board of Directors 1 60 X 0 592234 35796 Joan Ferrini-Mundy Director 0.25 60 X 0 563019 36436 Ryan Low Treasurer 1.00 60.00 X 0 322030 75732 Jacqueline Edmondson Director 0.25 60.00 X 0 317407 65648 Leigh Saufley Director 0.25 60.00 X 0 300267 59151 Paul Chan Secretary (resigned June 2025) 0.25 60.00 X 0 260858 53365 Seth Goodall Chief Executive Officer 1.00 60.00 X 0 228500 65674 Samantha Warren Former Secretary 0.00 60.00 X 0 187804 61299 Amon Purinton Secretary 0.25 60.00 X 0 144013 55866 Patricia Riley Director 0.25 10.00 X 0 0 0 Bobby Monks Director (resigned June 2025) 0.25 0.00 X 0 0 0 Lisa Eames Director 0.25 2.00 X 0 0 0 Owen McCarthy Director (resigned Feb. 2025) 0.25 2.00 X 0 0 0 Quincy Hentzel Director 0.25 0.00 X 0 0 0 Elise Baldacci Director 0.25 2.00 X 0 0 0 Lori Dwyer Director 0.25 0.00 X 0 0 0 0 2916132 508967 0 1 1 0 0 0 0 0 0 0 2400 0 2400 0 16898 16898 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 19298 16898 0 0 83042 83042 83042 83042 0 0 364807 301063 0 0 364807 301063 0 0 0 0 X 0 0 364807 301063 364807 301063 364807 301063 -63744 0 0 0 0 0 X 0 0 0 X X X 1 University of Maine System Inc 016000769 2 1 83042 0 1 83042 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 University of Maine System Inc Controllers Office Lewiston Hall 65 Texas Ave Bangor ME 04401 016000769 501(c)(3) 83042 0 Fund Maine Center projects and initiatives. 1 0 Schedule I, Part I, Line 2 Maine Center Ventures ("MCV") makes grants only in support of the University of Maine Graduate and Professional Center ("Maine Center") at its supported organization, the University of Maine System ("UMS"). As MCV develops its annual budget, it works with the UMS management to determine which initiatives of the Maine Center need funding support for the upcoming fiscal year. Management and support staff at MCV have view only access the the UMS' general ledger system and receive periodic financial reports from UMS on how the grant monies have been spent to-date. 0 0 0 0 0 0 0 0 0 Dannel Malloy Chair, Board of Directors 0 398852 0 51211 0 142171 0 34500 0 1296 0 628030 0 0 Joan Ferrini-Mundy Director 0 428017 0 105575 0 29427 0 34500 0 1936 0 599455 0 0 Ryan Low Treasurer 0 291830 0 25000 0 5200 0 29942 0 45790 0 397762 0 0 Jacqueline Edmondson Director 0 298879 0 0 0 18528 0 30907 0 34741 0 383055 0 0 Leigh Saufley Director 0 270459 0 0 0 29808 0 27417 0 31734 0 359418 0 Paul Chan Secretary (resigned June 2025) 0 258337 0 0 0 2521 0 26136 0 27229 0 314223 0 0 Seth Goodall Chief Executive Officer 0 216496 0 11676 0 328 0 23498 0 42176 0 294174 0 0 Samantha Warren Former Secretary 0 181637 0 6000 0 167 0 18878 0 42421 0 249103 0 0 Amon Purinton Secretary 0 142892 0 1000 0 121 0 14870 0 40996 0 199879 0 0 Schedule J, Part I, Line 3 No responses have been provided for lines 1a thru 3 as Maine Center Ventures does not have employees, but rather contracts with its related organization, the University of Maine System, to provide the services of CEO and supporting positions to carry out Maine Center Ventures' mission. Form 990, Part III, Line 3 In its earliest years of operations, Maine Center Ventures ("MCV") received a significant grant that was utilized with fundraising dollars to support and promote the University of Maine Graduate & Professional Center ("Maine Center") of the University of Maine Systems ("UMS") in accordance with MCV's mission. This support enabled the Maine Center to become established and to expand enrollment in its academic programs and to engage with Maine enterprises. Like fiscal years 2023 and 2024, in fiscal year 2025 MCV's operations were minimal as the UMS primarily supported its Maine Center through other means. MCV's CEO and Board of Directors continue to work together to determine how MCV can best support the Maine Center going forward. Form 990, Part VI, Section A, Line 2 A business relationship exists between the following Maine Center Ventures' directors and officers as of June 30, 2025, as they hold positions/titles at the University of Maine System ("UMS"), an organization supported by Maine Center Ventures ("MCV"): Dannel Malloy, Chancellor; Joan Ferrini-Mundy, President; Ryan Low, VC for Finance and Strategic AI Integration; Jacqueline Edmondson, President; Leigh Sauffley, President; Paul Chan, General Counsel; Seth Goodall, Chief Executive Officer; Amon Purinton, General Counsel; Patricia Riley, Trustee; Lisa Eames, Trustee; Owen McCarthy, Trustee; and Elise Baldacci, Trustee. Form 990, Part VI, Section A, Line 7a According to Maine Center Ventures' bylaws, its Board of Directors shall consist of the following persons: (a) the University of Maine System ("UMS") Chancellor, who shall serve as the Chair of the Board of Directors; (b) the President of the University of Maine, or as his or her delegate, the University of Maine Chief Academic Officer; (c) the President of the University of Southern Maine, or as his or her delegate, the University of Southern Maine Chief Academic Officers; (d) the Dean of the University of Maine School of Law; (e) three members of the Board of Trustees of UMS, to be named by the UMS Board Chair; and (f) at least five other members from the Maine business, legal, and public/policy governance communities who shall initially be selected and appointed by the UMS Board Chair upon recommendation of the UMS Chancellor. Form 990, Part VI, Section B, Line 11b Form 990 is prepared by the Director of Accounting for the University of Maine System who advises Maine Center Ventures' staff on accounting and tax matters. Once the Form 990 is substantially complete, a draft is posted on a Google drive and a link to the drive is emailed to each of Maine Center Ventures' current board members and officers for comment prior to filing of the form. Form 990, Part VI, Section B, Line 12c Maine Center Ventures' ("MCV") secretary monitors compliance with the conflict of interest policy on a case by case basis. The only vote taken by MCV's board of directors that recommends commitment of financial resources, occurs once annually to recommend approval of MCV's annual budget. The budget must then be approved by the board of MCV's supported organization, the University of Maine System ("UMS"). The MCV board members who also serve on the UMS' board provide an annual conflict of interest disclosure to the clerk of the UMS' board of trustees. Form 990, Part VI, Section B, Line 15 As shown in Part VII, the CEO and other officers of Maine Center Ventures ("MCV") are not compensated by the organization. The treasurer and secretary are not compensated for their services to MCV. The CEO is actually an employee of and compensated by the related organization, the University of Maine System ("UMS"). The CEO reports to the UMS' chancellor and was hired following UMS' hiring policies and practices which include the following: written job descriptions; a process for rating the responsibilities, qualifications, and impact of the position to determine a reasonable salary range; advertising for position at a local, state, and/or national level; review of resumes; interview of candidates; reference checks; and written offer. Form 990, Part VI, Section C, Line 19 Maine Center Ventures' public records, including governing documents, conflict of interest policy, and financial statements, are available for inspection or disclosure upon public request to Maine Center Ventures' secretary. University of Maine System Inc Controllers Office Lewiston Hall 65 Texas Ave Bangor ME 04401 016000769 Higher Education ME 501(c)(3) 2 N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0