Public Charity

MAINE CENTER FOR ENTERPRISE DEVELOPMENT DBA MAINE CENTER FOR ENTREPRENEURS

MAINE CENTER FOR ENTERPRISE DEVELOPMENT DBA MAINE CENTER FOR ENTREPRENEURS is a Public Charity headquartered in PORTLAND, ME. Financial data from the 2024 filing: $1.4M revenue, $1.4M expenses, $319K total assets. 26 publicly reported grants to this organization, totaling roughly $5.3M, appear in IRS filings.

EIN: 010510641 PORTLAND, ME Latest filing: 2024
Total Revenue$1.4M
Total Expenses$1.4M
Total Assets$319K
Grant Records26
Funding Total$5.3M
Filing Years2020–2024

Mission

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.

Where $100 goes at Maine Center for Enterprise Development DBA Maine Center for Entrepreneurs

How Maine Center for Enterprise Development DBA Maine Center for Entrepreneurs divides every $100 it spends, from its own Form 990 filings, averaged across 7 years.

$72 Programs the work itself
$28 Management running the organization
$0 Fundraising none reported

No fundraising costs are reported. That often means fundraising runs through a separate affiliated organization that files its own return.

Inside the $72 for programs

$24
Marketshare is the most expensive mce program, with 2024 expenses totaling $332,597 and 41 client companies enrolled
34% of program spending · Reported in the filing: 78 jobs
$17
At $228,499 in expenses and 14 client companies partaking, the cultivator program was the second most expensive initiative for mce in 2024
23% of program spending · Reported in the filing: 28 jobs
$11
The foodtech maine program cost $151,664 making it the third most expensive mce initiative in 2024
16% of program spending

Plus 3 more programs. Cost per person served and the full program breakdown are on the full profile.

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Source: Form 990 filings with the IRS, latest fiscal year 2024. Shares are from the organization's reported expenses. Data by Imperigo; not affiliated with the IRS.

Sample Grants Received

2024
AWARD TO INVEST IN BUSINESS ACCELERATION PROGRAMS DELIVERED BY MAINE CENTER FOR ENTREPRENEURS TO MAINE FOOD, BIOSCIENCE AND FOOD TECH COMPANIES
$762,947
2024
2024 Maine Food Producers Showcase and Golden Fork Awards; FoodTech Maine; MOU.
$234,382
2024
TO SUPPORT MANAGEMENT OF MAINE'S BUSINESS INCUBATORS PROGRAM
$59,613
2023
AWARD TO INVEST IN BUSINESS ACCELERATION PROGRAMS DELIVERED BY MAINE CENTER FOR ENTREPRENEURS TO MAINE FOOD, BIOSCIENCE AND FOOD TECH COMPANIES
$867,935
2023
MCE is seeking matching funding to support an application to EDA's Build to Scale Program to establish a Maine Bioscience Cluster Initiative to serve Maine's emerging life sciences innovators. MCE will scale our existing Top Gun and Cultivator programs and develop specific curricula to serve biosciences companies from "idea stage" to startup, and through scale-up. MCE will partner with TechPlace and the Union River Center for Innovation to host a Top Gun like accelerator at each location annually. In addition, we will hire a "Bioinnovate Champion" to support, nuture, and educate bioscience researchers and entrepreneurs on taking their innovation from the lab to the market. Finally, MCE will work with established bioscience companies to help them gain marketshare, expand markets, and become more profitable.
$100,000

Showing up to 5 of 26 total records — full history available with membership.

Officers & Directors

CHAIR Andrea K Suter
DIRECTOR Burak Sezen
DIRECTOR Cal Hancock
DIRECTOR Chris Vickers
DIRECTOR Cory Vargo
DIRECTOR Daniel Piltch

Officer compensation and complete director data available with membership.

Top Grant Purposes

General Support
$2,625,127 9 grants
Food Assistance & Nutrition
$1,865,264 3 grants
Economic Development
$469,048 10 grants
Environment & Conservation
$100,000 1 grant
Education
$100,000 1 grant

Financial Trends

Year Revenue Expenses Assets
2024 $1.4M $1.4M $319K
2023 $1.4M $1.3M $360K
2022 $962K $1.0M $319K
2021 $1.1M $953K $381K
2020 $871K $818K $293K

Between 2020 and 2024, reported annual revenue grew from $871K to $1.4M (+57%), with total assets most recently reported at $319K.

Interactive year-over-year charts and full filing details available with membership.

See the full picture for MAINE CENTER FOR ENTERPRISE DEVELOPMENT DBA MAINE CENTER FOR ENTREPRENEURS

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